中级宏观经济学（双语）（山东联盟）智慧树知到期末考试答案章节答案2024年山东财经大学

中级宏观经济学（双语）（山东联盟）智慧树知到期末考试答案+章节答案2024年山东财经大学Crowding

out

occurs

when

an

increase

in

government

spending

increases

the

interest

rate

and

investment

decreases.

（

）

答案:对In

the

long

run,

the

level

of

output

is

determined

by

the

amounts

of

capital

and

labor

and

the

available

technology.（

）

答案:对The

characteristic

of

the

classical

model

that

the

money

supply

does

not

affect

real

variables

is

called

the

quantity

theory

of

money.

（

）

答案:错If

the

production

function

exhibits

decreasing

returns

to

scale

in

the

steady

state,

an

increase

in

the

rate

of

population

would

lead

to

growth

in

total

output

and

growth

in

output

per

worker.（

）

答案:错With

a

Cobb-douglas

production

function,

the

share

of

output

going

to

labor

is

independent

of

the

amount

of

labor.

（

）

答案:对In

the

Solow

growth

model,

the

steady-state

occurs

when

consumption

per

worker

is

maximized.（

）

答案:错Wage

rigidity

prevents

labor

demand

and

labor

supply

from

reaching

the

equilibrium

level.（

）

答案:对According

to

the

neoclassical

theory

of

distribution,

if

firms

are

competitive

and

subject

to

constant

returns

to

scale,

total

income

in

the

economy

is

distributed

between

the

labor

and

capital

used

in

production,

according

to

their

marginal

productivities.

（

）

答案:对If

an

economy

is

in

a

steady

state

with

no

population

growth

or

technological

change

and

the

capital

stock

is

below

the

Golden

Rule,

if

the

saving

rate

is

increased,

output

per

capita

will

rise

and

consumption

per

capita

will

first

decline

and

then

rise

above

its

initial

level.（

）

答案:对The

assumption

of

constant

velocity

in

the

quantity

equation

is

the

equivalent

of

the

assumption

of

a

constant

demand

for

real

balances

per

unit

of

output.（

）

答案:对The

Keynesian-cross

analysis

assumes

planned

investment

is

fixed,

whereas

the

IS

analysis

assumes

it

depends

on

the

interest

rate.（

）

答案:对The

unemployment

resulting

from

wage

rigidity

and

job

rationing

is

called

structural

unemployment.

（

）

答案:对In

the

Solow

growth

model

,

the

economy

ends

up

with

a

steady-state

level

regardless

of

the

starting

level

of

capital.（

）

答案:对The

assumption

of

flexible

prices

is

a

more

plausible

assumption

when

applied

to

price

changes

that

occur

in

the

short

run.（

）

答案:错which

of

following

arguments

about

floating-exchange-rate

system

are

wrong:

（

）

答案:makes

international

trade

less

difficult.###helps

prevent

excessive

growth

in

the

money

supply.###minimizes

destabilizing

speculation

by

international

investors.Which

of

the

following

could

NOT

be

examples

of

structural

unemployment?（

）

答案:Vickie

lost

her

job

as

a

graphic

artist

at

a

movie

studio

because

she

did

not

have

training

in

computer-generated

animation.###Tim

is

looking

for

a

job

with

flexible

hours

but

has

not

been

offered

one

yet.###Fatima

lost

her

job

at

a

packing

plant

but

has

not

looked

very

intensively

for

a

new

job

because

she

still

has

2

months

of

unemployment

insurance

benefits

left.Which

of

the

following

are

the

effect

of

expected

inflation?

（

）

答案:leads

to

taxing

of

nominal

capital

gains

that

are

not

real.###leads

to

shoeleather

costs.###increases

menu

costs.In

the

Solow

growth

model

of

an

economy

with

population

growth

but

no

technological

change,

the

break-even

level

of

investment

must

do

all

of

the

following

（

）

答案:provide

capital

for

new

workers.###keep

the

level

of

capital

per

worker

constant.###offset

the

depreciation

of

existing

capital.Efficiency-wage

theories

suggest

that

a

firm

may

pay

workers

more

than

the

market-clearing

wage

for

the

following

reasons

:

（

）

答案:reduce

labor

turnover.###improve

the

quality

of

the

firm's

labor

force.###increase

worker

effort.The

quantity

theory

of

money

assumes

that:

（

）

答案:velocity

is

constant.In

the

two-sector

endogenous

growth

model,

the

steady-state

stock

of

physical

capital

is

determined

by

_____,

and

the

growth

in

the

stock

of

knowledge

is

determined

by

_____.

（

）

答案:the

saving

rate;

the

fraction

of

labor

in

universitiesIf

a

country

chooses

to

have

free

capital

flows

and

to

maintain

a

fixed

exchange

rate,

then

it

must:

（

）

答案:give

up

the

use

of

monetary

policy

for

purposes

of

domestic

stabilization.A

short-run

aggregate

supply

curve

shows

fixed

______,

and

a

long-run

aggregate

supply

curve

shows

fixed

______.

（

）

答案:prices;

output

答案:C;

BUnlike

the

real

world,

the

classical

model

with

fixed

output

assumes

that:

（

）

答案:all

factors

of

production

are

fully

utilized.The

neoclassical

theory

of

distribution:

（

）

答案:is

a

theory

of

how

national

income

is

divided

among

the

factors

of

production.In

a

small

open

economy,

starting

from

a

position

of

balanced

trade,

if

the

government

increases

the

income

tax,

this

produces

a

tendency

toward

a

trade

______

and

______

net

capital

outflow.

（

）

答案:surplus;

positiveIn

the

long

run,

according

to

the

quantity

theory

of

money

and

the

classical

macroeconomic

theory,

if

velocity

is

constant,

then

______

determines

real

GDP

and

______

determines

nominal

GDP.

（

）

答案:the

productive

capability

of

the

economy;

the

money

supplyAccording

to

the

Mundell-Fleming

model,

import

restrictions

in

an

economy

with

flexible

exchange

rates

cause

net

exports

to

______

and

in

an

economy

with

fixed

exchange

rates

import

restrictions

cause

net

exports

to

______.

（

）

答案:remain

unchanged;

increaseIf

the

per-worker

production

function

is

given

by

y

=

k1/2,

the

saving

rate

(s)

is

0.2,

and

the

depreciation

rate

is

0.1,

then

the

steady-state

ratio

of

capital

to

labor

is:

（

）

答案:4.30

If

domestic

saving

exceeds

domestic

investment,

then

net

exports

are

______

and

net

capital

outflows

are

______.

（

）

答案:positive;

positiveThe

real

interest

rate

is

equal

to

the:

（

）

答案:nominal

interest

rate

minus

the

inflation

rate.In

a

small

open

economy

with

a

floating

exchange

rate,

the

exchange

rate

will

depreciate

if:

（

）

答案:taxes

are

decreased.In

the

Keynesian-cross

model,

actual

expenditures

differ

from

planned

expenditures

by

the

amount

of:

（

）

答案:unplanned

inventory

investment.In

a

small

open

economy,

if

the

world

real

interest

rate

is

above

the

rate

at

which

national

saving

equals

domestic

investment,

then

there

will

be

a

trade

______

and

______

net

capital

outflow.

（

）

答案:surplus;

positiveThe

steady-state

level

of

capital

occurs

when

the

change

in

the

capital

stock

(k)

equals:

（

）

答案:0.According

to

the

classical

theory

of

money,

reducing

inflation

will

not

make

workers

richer

because

firms

will

increase

product

prices

______

each

year

and

give

workers

______

raises.

（

）

答案:less;

smallerAccording

to

the

quantity

theory

and

the

Fisher

equation,

if

the

money

growth

increases

by

3

percent

and

the

real

interest

rate

equals

2

percent,

then

the

nominal

interest

rate

will

increase:

（

）

答案:5

percent.Any

policy

aimed

at

lowering

the

natural

rate

of

unemployment

must

either

______

the

rate

of

job

separation

or

______

the

rate

of

job

finding.

（

）

答案:reduce;

increaseWhen

the

Fed

makes

an

open-market

sale,

it:

（

）

答案:decreases

the

monetary

base

(B).In

the

Keynesian-cross

model,

a

decrease

in

the

interest

rate

______

planned

investment

spending

and

______

the

equilibrium

level

of

income.

（

）

答案:increases;

increasesStartingfromlong-runequilibrium,ifthevelocityofmoneyincreases(dueto,forexample,theinventionofautomatictellermachines)andnoactionistakenbythegovernment：

答案:outputwillriseintheshortrunandpriceswillriseinthelongrun.Inthelongrun,thelevelofoutputisdeterminedbythe:

答案:amountsofcapitalandlaborandtheavailabletechnology.Aggregatesupplyistherelationshipbetweenthequantityofgoodsandservicessuppliedandthe:

答案:pricelevel.Theassumptionofconstantvelocityinthequantityequationistheequivalentoftheassumptionofaconstant:

答案:demandforrealbalancesperunitofoutput.Thelong-runaggregatesupplycurveisverticalatthelevelofoutput:

答案:atwhichunemploymentisatitsnaturalrate.Ifshort-runequilibriumintheMundell-FlemingmodelisrepresentedbyagraphwithYalongthehorizontalaxisandtheexchangeratealongtheverticalaxis,thentheLM*curve:

答案:isverticalbecausetheexchangeratedoesnotenterintotheLM*equation.Tomaintainafixed-exchange-ratesystem,iftheexchangeratemovesbelowthefixed-exchange-ratelevel,thenthecentralbankmust:

答案:sellforeigncurrencyfromreserves.AccordingtotheMundell-Flemingmodel,importrestrictionsinaneconomywithflexibleexchangeratescausenetexportsto______andinaneconomywithfixedexchangeratesimportrestrictionscausenetexportsto____.

答案:remainunchanged;increaseInasmallopeneconomywithafloatingexchangerate,ifthegovernmentincreasesthemoneysupply,theninthenewshort-runequilibriumthe:

答案:exchangeratefallsandnetexportsincrease.IntheMundell-Flemingmodel,thedomesticinterestrateisdeterminedbythe:

答案:worldinterestrate.IntheIS?LMmodelwhentaxationincreases,inshort-runequilibrium,theinterestrate______andoutput______.

答案:falls;fallsIfrealmoneybalancesentertheIS?LMmodelboththroughthetheoryofliquiditypreferenceandthePigoueffect,thenafallinthepricelevelwillshift:

答案:boththeLMandtheIScurves.Ataxcutshiftsthe______totheright,andtheaggregatedemandcurve__

答案:IS;shiftstotherightUsingtheIS-LManalysis,iftheLMcurveisnothorizontal,themultiplierforanincreaseingovernmentspendingis______foranincreaseingovernmentpurchasesusingtheKeynesian-crossanalysis.

答案:smallerthanthemultiplierAneconomicchangethatdoesnotshifttheaggregatedemandcurveisachangein:

答案:thepricelevel.AnIScurveshowscombinationsof:

答案:interestratesandincomethatbringequilibriuminthemarketforgoodsandservices.IntheKeynesian-crossmodel,actualexpendituresdifferfromplannedexpendituresbytheamountof:

答案:unplannedinventoryinvestment.Iftheinterestrateisabovetheequilibriumvalue,the:

答案:supplyofrealbalancesexceedsthedemand.AlonganygivenIScurve:

答案:bothgovernmentspendingandtaxratesarefixed.TwointerpretationsoftheIS-LMmodelarethatthemodelexplains:

答案:thedeterminationofincomeintheshortrunwhenpricesarefixed,orwhatshiftstheaggregatedemandcurve.IntheKeynesian-crossmodel,adecreaseintheinterestrate______plannedinvestmentspendingand______theequilibriumlevelofincome

答案:increases;increasesIfanaggregatedemandcurveisdrawnwithrealGDP(Y)alongthehorizontalaxisandthepricelevel(P)alongtheverticalaxis,usingthequantitytheoryofmoneyasatheoryofaggregatedemand,thiscurveslopes______totherightandgets______asitmovesfarthertotheright.

答案:downward;flatterAshort-runaggregatesupplycurveshowsfixed______,andalong-runaggregatesupplycurveshowsfixed______.

答案:prices;outputAssumethattheeconomystartsfromlong-runequilibrium.IftheFederalReserveincreasesthemoneysupply,then______increase(s)intheshortrunand______increase(s)inthelongrun.

答案:output;pricesMonetaryneutralityisacharacteristicoftheaggregatedemand朼ggregatesupplymodelin:

答案:inthelongrun,butnotintheshortrun.Ifthelong-runaggregatesupplycurveisvertical,thenchangesinaggregatedemandaffect:

答案:pricesbutnotlevelofoutput.Ifaneconomyisinasteadystatewithnopopulationgrowthortechnologicalchangeandthemarginalproductofcapitalislessthanthedepreciationrate:

答案:steady-stateconsumptionperworkerwouldbehigherinasteadystatewithalowersavingrate.TheGoldenRulelevelofthesteady-statecapitalstock:

答案:impliesachoiceofaparticularsavingrate.WhenaneconomybeginsabovetheGoldenRule,reachingtheGoldenRule:

答案:produceshigherconsumptionatalltimesinthefuture.IfaneconomyisinasteadystatewithasavingratebelowtheGoldenRulelevel,effortstoincreasethesavingrateresultin:

答案:bothhigherper-capitaoutputandhigherper-capitadepreciation,buttheincreaseinper-capitaoutputwouldbegreater.IntheSolowgrowthmodelofaneconomywithpopulationgrowthbutnotechnologicalchange,thebreak-evenlevelofinvestmentmustdoallofthefollowingexcept:

答案:equalthemarginalproductivityofcapital(MPK).IntheSolowgrowthmodel,thesteadystatelevelofoutputperworkerwouldbehigherifthe_____increasedorthe_____decreased.

答案:savingrate;depreciationrateIntheSolowgrowthmodelthesavingratedeterminestheallocationofoutputbetween:

答案:investmentandconsumption.IntheSolowgrowthmodel,withagivenproductionfunction,depreciationrate,savingrate,andnotechnologicalchange,higherratesofpopulationgrowthproduce:

答案:highersteady-stategrowthratesoftotaloutput.TwoeconomiesareidenticalexceptthatthelevelofcapitalperworkerishigherinHighlandthaninLowland.Theproductionfunctionsinbotheconomiesexhibitdiminishingmarginalproductofcapital.Anextraunitofcapitalperworkerincreasesoutputperworker:

答案:moreinLowland.IntheSolowgrowthmodel,thesteady-stateoccurswhen:

答案:capitalperworkerisconstant.Theunemploymentresultingfromwagerigidityandjobrationingiscalled______unemployment.

答案:structuralTheminimumwage:

答案:hasitsgreatestimpactonteenageunemployment.Apolicythatdecreasesthejobseparationrate_____thenaturalrateofunemployment.

答案:willdecreaseWhichofthefollowingisthebestexampleofstructuralunemployment?

答案:Kirbyisseekingajobasanairlinepilot,butthehighunionwagesintheindustryhavelimitedthenumberofjobsavailable.Anypolicyaimedatloweringthenaturalrateofunemploymentmusteither______therateofjobseparationor______therateofjobfinding.

答案:reduce;increaseIfpurchasing-powerparityholds,thenchangesindomesticsavingwill_____therealexchangerate.

答案:notchangeInasmallopeneconomy,ifexportsequal$5billionandimportsequal$7billion,thenthereisatrade______and______netcapitaloutflow.

答案:deficit;negativeIfdomesticsavingexceedsdomesticinvestment,thennetexportsare______andnetcapitaloutflowsare______.

答案:positive;positiveStartingfromatradebalance,iftheworldinterestratefalls,then,holdingotherfactorsconstant,inasmallopeneconomytheamountofdomesticinvestmentwill_____andnetexportswill_____.

答案:increase;decreaseNetcapitaloutflowisequalto:

答案:nationalsavingminusdomesticinvestment.Accordingtotheclassicaldichotomy,whenthemoneysupplydecreases,_____willdecrease.

答案:thepricelevelInthelongrun,accordingtothequantitytheoryofmoneyandtheclassicalmacroeconomictheory,ifvelocityisconstant,then______determinesrealGDPand______determinesnominalGDP.

答案:theproductivecapabilityoftheeconomy;themoneysupplyIfthedemandforrealmoneybalancesisproportionaltorealincome,velocitywill:

答案:remainconstant.Thequantityequationformoney,byitself:

答案:maybethoughtofasadefinitionforvelocityofmoney.Theconceptofmonetaryneutralityintheclassicalmodelmeansthatanincreaseinthemoneysupplywillincrease:

答案:nominalinterestrates.WhentheFederalReserveconductsanopen-marketpurchase,itbuysbondsfromthe:

答案:public.Inafractional-reservebankingsystem,bankscreatemoneywhenthey:

答案:makeloans.Money'sliquidityreferstotheeasewithwhich:

答案:moneycanbeconvertedintogoodsandservices.WhentheFedmakesanopen-marketsale,it:

答案:decreasesthemonetarybase(B).Ifthecurrency-epositratioequals0.5andthereserve-epositratioequals0.1,thenthemoneymultiplierequals

答案:2.5.Atanyparticularpointintime,theoutputoftheeconomy:

答案:isfixedbecausethesuppliesofcapitalandlaborandthetechnologyarefixed.InaCobb-douglasproductionfunctionthemarginalproductoflaborwillincreaseif:

答案:thequ