经济学原理对应练习 35
Chapter 35
The Short-Run Trade-off between Inflation and Unemployment Multiple Choice
1. Closely watched indicators such as the inflation rate and unemployment are released each month by the
a. Bureau of the Budget.
b. Bureau of Labor Statistics.
c. Department of the Treasury.
d. President's Council of Economic Advisors.
ANS: B PTS: 1 DIF: 1 REF: 35-1
TOP: Bureau of Labor Statistics MSC: Definitional
2. The misery index is calculated as the
a. inflation rate plus the unemployment rate.
b. unemployment rate minus the inflation rate.
c. actual inflation rate minus the expected inflation rate.
d. natural unemployment rate plus the long-run inflation rat
e.
ANS: A PTS: 1 DIF: 1 REF: 35-1
TOP: Misery index MSC: Definitional
3. The misery index is supposed to measure the
a. social cost of unemployment.
b. health of the economy.
c. lost output associated with a particular unemployment rate.
d. short-run tradeoff between inflation and unemployment.
ANS: B PTS: 1 DIF: 1 REF: 35-1
TOP: Misery index MSC: Definitional
4. One determinant of the natural rate of unemployment is the
a. rate of growth of the money supply.
b. minimum wage rate.
c. expected inflation rate.
d. All of the above are correct.
ANS: B PTS: 1 DIF: 1 REF: 35-1
TOP: Natural rate of unemployment MSC: Definitional
5. One determinant of the long-run average unemployment rate is the
a. market power of unions, while the inflation rate depends primarily upon government spending.
b. minimum wage, while the inflation rate depends primarily upon the money supply growth rate.
c. rate of growth of the money supply, while the inflation rate depends primarily upon the market power of unions.
d. existence of efficiency wages, while the inflation rate depends primarily upon the extent to which firms are
competitive.
ANS: B PTS: 1 DIF: 1 REF: 35-1
TOP: Long-run Phillips curve MSC: Interpretive
6. In the long run, the inflation rate depends primarily on
a. the ability of unions to raise wages.
b. government spending.
c. the money supply growth rate.
d. the monopoly power of firms.
ANS: C PTS: 1 DIF: 2 REF: 35-1
TOP: Inflation MSC: Definitional
1432
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1433
7. In the long run,
a. the natural rate of unemployment depends primarily on the level of aggregate demand.
b. inflation depends primarily upon the money supply growth rate.
c. there is a tradeoff between the inflation rate and the natural rate of unemployment.
d. All of the above are correct.
ANS: B PTS: 1 DIF: 2 REF: 35-1
TOP: Long-run Phillips curve MSC: Interpretive
8. There is a
a. short-run tradeoff between inflation and unemployment.
b. short-run tradeoff between the actual unemployment rate and the natural rate of unemployment.
c. long-run tradeoff between inflation and unemployment.
d. long-run tradeoff between the actual unemployment rate and the natural rate of unemployment.
ANS: A PTS: 1 DIF: 1 REF: 35-1
TOP: Phillips curve MSC: Definitional
9. If policymakers decrease aggregate demand, the price level
a. falls, but unemployment rises.
b. and unemployment fall.
c. and unemployment rise.
d. rises, but unemployment falls.
ANS: A PTS: 1 DIF: 1 REF: 35-1
TOP: Short-run Phillips curve | Contractionary policy MSC: Analytical
10. If policymakers increase aggregate demand, the price level
a. falls, but unemployment rises.
b. and unemployment fall.
c. and unemployment rise.
d. rises, but unemployment falls.
ANS: D PTS: 1 DIF: 1 REF: 35-1
TOP: Short-run Phillips curve | Expansionary policy MSC: Analytical
11. In the short run, policy that changes aggregate demand changes
a. both unemployment and the price level.
b. neither unemployment nor the price level.
c. only unemployment.
d. only the price level.
ANS: A PTS: 1 DIF: 1 REF: 35-1
TOP: Short-run equilibrium MSC: Applicative
12. If the government raises government expenditures, in the short run, prices
a. rise and unemployment falls.
b. fall and unemployment rises.
c. and unemployment rise.
d. and unemployment fall.
ANS: A PTS: 1 DIF: 2 REF: 35-1
TOP: Fiscal policy MSC: Analytical
13. If the central bank increases the money supply, in the short run, prices
a. rise and unemployment falls.
b. fall and unemployment rises.
c. and unemployment rise.
d. and unemployment fall.
ANS: A PTS: 1 DIF: 2 REF: 35-1
TOP: Expansionary policy MSC: Analytical
1434 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
14. Unemployment would decrease and prices increase if
a. aggregate demand shifted right.
b. aggregate demand shifted left.
c. aggregate supply shifted right.
d. aggregate supply shifted left.
ANS: A PTS: 1 DIF: 2 REF: 35-1
TOP: Short-run equilibrium MSC: Applicative
15. If policymakers expand aggregate demand, then in the long run
a. prices will be higher and unemployment will be lower.
b. prices will be higher and unemployment will be unchanged.
c. prices and unemployment will be unchange
d.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 2 REF: 35-1
TOP: Long-run aggregate supply | Expansionary policy MSC: Analytical
16. If policymakers decrease aggregate demand, then in the long run
a. prices will be lower and unemployment will be higher.
b. prices will be lower and unemployment will be unchanged.
c. inflation and unemployment will be unchange
d.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 2 REF: 35-1
TOP: Long-run aggregate supply | Contractionary policy MSC: Analytical
17. In the long run, policy that changes aggregate demand changes
a. both unemployment and the price level.
b. neither unemployment nor the price level.
c. only unemployment.
d. only the price level.
ANS: D PTS: 1 DIF: 2 REF: 35-1
TOP: Long-run Phillips curve MSC: Analytical
18. In 2001, Congress and President Bush instituted tax cuts. According to the short-run Phillips curve this change
should have
a. reduced inflation and unemployment.
b. raised inflation and unemployment.
c. reduce inflation and raised unemployment.
d. raised inflation and reduced unemployment.
ANS: D PTS: 1 DIF: 1 REF: 35-1
TOP: Short-run Phillips curve MSC: Applicative
19. The short-run relationship between inflation and unemployment is often called
a. the Classical Dichotomy.
b. Money Neutrality.
c. the Phillips curve.
d. the Keynesian cross.
ANS: C PTS: 1 DIF: 1 REF: 35-1
TOP: Phillips curve MSC: Definitional
20. Phillips found a
a. positive relation between unemployment and inflation in the United Kingdom.
b. positive relation between unemployment and inflation in the United States.
c. negative relation between unemployment and inflation in the United States.
d. negative relation between unemployment and inflation in the United Kingdom.
ANS: D PTS: 1 DIF: 2 REF: 35-1
TOP: Phillips curve MSC: Definitional
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1435
21. Phillips found a negative relation between
a. output and unemployment.
b. output and employment.
c. wage inflation and output.
d. wage inflation and unemployment.
ANS: D PTS: 1 DIF: 1 REF: 35-1
TOP: Phillips curve MSC: Definitional
22. A. W. Phillips' findings were based on data
a. from 1861-1957 for the United Kingdom.
b. from 1861-1957 for the United States.
c. mostly from the post-World War II period in the United Kingdom.
d. mostly from the post-World War II period in the United States.
ANS: A PTS: 1 DIF: 2 REF: 35-1
TOP: Phillips curve MSC: Definitional
23. If the short-run Phillips curve were stable, which of the following would be unusual?
a. an increase in government spending and a fall in unemployment
b. an increase in inflation and a decrease in output
c. a decrease in the inflation rate and a rise in the unemployment rate
d. a decrease in the money supply and a rise in unemployment.
ANS: B PTS: 1 DIF: 2 REF: 35-1
TOP: Short-run Phillips curve MSC: Interpretive
24. Samuelson and Solow reasoned that when aggregate demand was high, unemployment was
a. low, so there was upward pressure on wages and prices.
b. low, so there was downward pressure on wages and prices.
c. high, so there was upward pressure on wages and prices.
d. high, so there was downward pressure on wages and prices.
ANS: A PTS: 1 DIF: 2 REF: 35-1
TOP: Phillips curve MSC: Analytical
25. Samuelson and Solow reasoned that when aggregate demand was low, unemployment was
a. high, so there was upward pressure on wages and prices.
b. high, so there was downward pressure on wages and prices.
c. low, so there was upward pressure on wages and prices.
d. low, so there was downward pressure on wages and prices.
ANS: B PTS: 1 DIF: 2 REF: 35-1
TOP: Phillips curve MSC: Analytical
26. Suppose that a central bank increases the money supply. According to the logic of the Phillips curve this should make
a. prices, output, and employment rise.
b. prices and output rise, employment fall.
c. prices rise and output and employment fall.
d. prices fall, output, and employment ris
e.
ANS: A PTS: 1 DIF: 1 REF: 35-1
TOP: Phillips curve MSC: Analytical
27. Suppose that the money supply increases. In the short run this increases employment according to
a. both the short-run Phillips curve and the aggregate demand and aggregate supply model.
b. neither the short-run Phillips curve nor the aggregate demand and aggregate supply model.
c. the short-run Phillips curve, but not the aggregate demand and supply model.
d. the aggregate demand and aggregate supply model, but not the short-run Phillips curv
e.
ANS: A PTS: 1 DIF: 2 REF: 35-1
TOP: Short-run Phillips curve | Aggregate demand and supply MSC: Interpretive
1436 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
28. Suppose that the money supply increases. In the short run, this increases prices according to
a. both the short-run Phillips curve and the aggregate demand and aggregate supply model.
b. neither the short-run Phillips curve nor the aggregate demand and aggregate supply model.
c. the short-run Phillips curve, but not the aggregate demand and aggregate supply model.
d. the aggregate demand and aggregate supply model but not the short-run Phillips curv
e.
ANS: A PTS: 1 DIF: 2 REF: 35-1
TOP: Phillips curve | Aggregate demand and supply MSC: Interpretive
29. Samuelson and Solow believed that the Phillips curve
a. implied that low unemployment was associated with low inflation.
b. indicated that the aggregate supply and aggregate demand model was incorrect.
c. offered policymakers a menu of possible economic outcomes from which to choose.
d. All of the above are correct.
ANS: C PTS: 1 DIF: 2 REF: 35-1
TOP: Phillips curve MSC: Definitional
30. The economy will move to a point on the short-run Phillips curve where unemployment is lower if
a. the inflation rate decreases.
b. the government increases its expenditures.
c. the Fed decreases the money supply.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 1 REF: 35-1
TOP: Short-run Phillips curve MSC: Analytical
31. Which of the following would we not expect if government policy moved the economy up along a given short-run
Phillips curve?
a. Ravi reads in the newspaper that the central bank recently raised the money supply.
b. Tony gets more job offers.
c. Louis makes smaller increases in the prices at his health food store.
d. Jessica's nominal wage increase is larger.
ANS: C PTS: 1 DIF: 1 REF: 35-1
TOP: Short-run Phillips curve MSC: Interpretive
32. The government of Libertina considers two policies. Policy A would shift AD right by 200 units while policy B
would shift AD right by 100 units. According to the short-run Phillips curve policy A will lead
a. to a lower unemployment rate and a lower inflation rate than policy B.
b. to a lower unemployment rate and a higher inflation rate than policy B.
c. to a higher unemployment rate and lower inflation rate than policy B.
d. to a higher unemployment rate and higher inflation rate than policy B.
ANS: B PTS: 1 DIF: 1 REF: 35-1
TOP: Phillips curve MSC: Analytical
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1437 Use the pair of diagrams below to answer the following questions.
Figure 35-1
33. Refer to Figure 35-1. If the economy starts at c and 1, then in the short run, an increase in the money supply growth
rate moves the economy to
a. a and 1.
b. b and 2.
c. c and 3.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 2 REF: 35-1
TOP: Short-run Phillips curve | Aggregate demand and supply MSC: Analytical
34. Refer to Figure 35-1. If the economy starts at c and 1, then in the short run, an increase in government expenditures
moves the economy to
a. b and 2.
b. b and 3.
c. d and 3.
d. None of the above is correct.
ANS: A PTS: 1 DIF: 2 REF: 35-1
TOP: Short-run Phillips curve | Aggregate demand and supply MSC: Analytical
35. Refer to Figure 35-1. If the economy starts at c and 1, then in the short run, a decrease in taxes moves the economy
to
a. d and 2.
b. d and 3.
c. back to c and 1.
d. None of the above is correct.
ANS: D PTS: 1 DIF: 2 REF: 35-1
TOP: Short-run Phillips curve | Aggregate demand and supply MSC: Analytical
36. Refer to Figure 35-1. If the economy starts at c and 1, then in the short run, a decrease in aggregate demand moves
the economy to
a. a and 2.
b. d and 3.
c. e and 3.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 1 REF: 35-1
TOP: Short-run Phillips curve | Aggregate demand and supply MSC: Analytical
1438 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
37. Refer to Figure 35-1. If the economy starts at c and 1, then in the short run, a decrease in the money supply moves
the economy to
a. e and 1.
b. d and 2.
c. d and 3.
d. None of the above is correct.
ANS: C PTS: 1 DIF: 2 REF: 35-1
TOP: Short-run Phillips curve | Aggregate demand and supply MSC: Analytical
38. Refer to Figure 35-1. If the economy starts at c and 1, then in the short run, a decrease in government expenditures
moves the economy to
a. d and 2
b. d and 3.
c. e and 3.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 2 REF: 35-1
TOP: Short-run Phillips curve | Aggregate demand and supply MSC: Analytical
39. Refer to Figure 35-1. If the economy starts at c and 1, then in the short run, an increase in taxes moves the economy
to
a. b and 2.
b. d and 3.
c. e and 2.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 2 REF: 35-1
TOP: Phillips curve | Aggregate demand and supply MSC: Analytical
40. In 1968, economist Milton Friedman published a paper criticizing the Phillips curve on the grounds that
a. it seemed to work for wages but not for inflation.
b. monetary policy was ineffective in combating inflation.
c. the Phillips curve did not apply in the long run.
d. Phillips had made errors in collecting his data.
ANS: C PTS: 1 DIF: 2 REF: 35-1
TOP: Inflation expectations | Phillips curve MSC: Definitional
41. In the short run
a. unemployment and inflation are positively related. In the long run they are largely unrelated problems.
b. and in the long run inflation and unemployment are positively related.
c. unemployment and inflation are negatively relate
d. In the long run they are largely unrelated problems.
d. and in the long run inflation and unemployment are negatively related.
ANS: C PTS: 1 DIF: 1 REF: 35-1
TOP: Phillips curve MSC: Definitional
42. In the late 1960s, economist Edmund Phelps published a paper that
a. argued that there was no long-run tradeoff between inflation and unemployment.
b. disproved Friedman's claim that monetary policy was ineffective in controlling inflation.
c. showed the optimal point on the Phillips curve was at an unemployment rate of 5 percent and an inflation rate of
2 percent.
d. argued that the Phillips curve was stable and that it would not shift.
ANS: A PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Definitional
43. Friedman and Phelps argued
a. that in the long run, monetary growth did not influence those factors that determine the economy's unemployment
rate.
b. that the Phillips curve could be exploited in the long run by using monetary, but not fiscal policy.
c. that the short-run Phillips curve was very steep, but not vertical.
d. that there was neither a short-run nor long-run tradeoff between inflation and unemployment.
ANS: A PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Definitional
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1439
44. According to classical macroeconomic theory, in the long run
a. monetary growth affects both real and nominal variables.
b. the only real variable affected by monetary growth is the unemployment rate.
c. a number of factors that affect unemployment are influenced by monetary growth.
d. monetary growth affects nominal but not real variables.
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Classical theory MSC: Interpretive
45. Milton Friedman argued that the Fed's control over the money supply could be used to peg
a. the level or growth rate of a nominal variable, but not the level or growth rate of a real variable.
b. the level of a nominal or real variable, but not the growth rate of a real or nominal variable.
c. the level or growth rate of a real variable, but not the level or growth rate of a nominal variable.
d. both levels and growth rates of both real and nominal variables.
ANS: A PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Interpretive
46. Friedman argued that the Fed could use monetary policy to peg a rate for
a. nominal exchange rates.
b. real GDP.
c. unemployment.
d. None of the above is correct.
ANS: A PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Interpretive
47. In responding to the Phillips curve hypothesis, Friedman argued that the Fed can peg the
a. unemployment rate.
b. inflation rate.
c. growth rate of real national income.
d. All of the above are correct.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Interpretive
48. In the long run, if the Fed decreases the rate at which it increases the money supply,
a. inflation and unemployment will be higher.
b. inflation will be higher and unemployment will be lower.
c. inflation will be lower and unemployment will be higher.
d. None of the above is correct.
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
49. In the long run, if the Fed increases the rate at which it increases the money supply,
a. inflation will be higher.
b. unemployment will be lower.
c. real GDP will be higher.
d. All of the above are correct.
ANS: A PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Definitional
50. In the long run, which of the following would shift the long-run Phillips curve to the right?
a. an increase in the minimum wage
b. a decrease in tax rates
c. an increase in the money supply
d. a decrease in the money supply
ANS: A PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Applicative
1440 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
51. The natural rate of unemployment
a. is constant over time.
b. varies over time, but can’t be changed by the government.
c. is the unemployment rate that the economy tends to move to in the long run.
d. depends on the rate at which the Fed increases the money supply.
ANS: C PTS: 1 DIF: 1 REF: 35-2
TOP: Natural rate of unemployment MSC: Definitional
52. The natural rate of unemployment
a. is constant over time.
b. varies over time, but can’t be changed b y the government.
c. is the socially desirable rate of unemployment.
d. does not depend on the rate at which the Fed increases the money supply.
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Natural rate of unemployment MSC: Definitional
53. Which of the following leads to a higher level of unemployment in the long run?
a. both an increase in the size of the money supply and an increase in the money supply growth rate.
b. an increase in the size of the money supply but not an increase in the money supply growth rate.
c. an increase in the money supply growth rate, but not an increase in the size of the money supply.
d. neither an increase in the size of the money supply nor an increase in the money supply growth rat
e.
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Definitional
54. The existence of sticky wages leads to a positive relationship between the actual price level and the quantity of output
supplied
a. in both the short and long run.
b. in the short run, but not the long run.
c. in the long run, but not the short run.
d. in neither the short nor the long run.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Definitional
55. Which of the following is correct concerning the long-run Phillips curve?
a. Its position is determined primarily by monetary factors.
b. If it shifts right, long-run aggregate supply shifts right.
c. It cannot be changed by any government policy.
d. Its position depends on the natural rate of unemployment.
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Interpretive
56. If efficiency wages became more common,
a. both the long-run Phillips curve and the long-run aggregate supply curve would shift right.
b. both the long-run Phillips curve and the long-run aggregate supply curve would shift left.
c. the long-run Phillips curve would shift right, and the long-run aggregate supply curve would shift left.
d. the long-run Phillips curve would shift left, and the long-run aggregate supply curve would shift right.
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Long-run aggregate supply MSC: Analytical
57. Which of the following is upward sloping?
a. both the long-run and the short-run Phillips curve
b. neither the long-run nor the short-run Phillips curve
c. the long-run Phillips curve, but not the short-run Phillips curve
d. the short-run Phillips curve, but not the long-run Phillips curve
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve | Long-run aggregate supply MSC: Definitional
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1441
58. Which of the following is downward sloping?
a. both the long-run Phillips curve and the short-run Phillips curve
b. neither the long-run Phillips curve nor the short-run Phillips curve
c. the long-run Phillips curve, but not the short-run Phillips curve
d. the short-run Phillips curve, but not the long-run Phillips curve
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Short-run Phillips curve | Long-run Phillips curve MSC: Definitional
59. Which of the following is upward sloping?
a. both the long-run Phillips curve and the long-run aggregate supply curve
b. neither the long-run Phillips curve nor the long-run aggregate supply curve
c. the long-run Phillips curve, but not the long-run aggregate supply curve
d. the short-run Phillips curve, but not the long-run aggregate supply curve
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Short-run Phillips curve | Long-run Phillips curve MSC: Definitional
60. Suppose that money supply growth increases. In the long run, this increases employment according to
a. both the long-run Phillips curve and the aggregate demand and aggregate supply model
b. neither the long-run Phillips curve nor the aggregate demand and aggregate supply model
c. the long-run Phillips curve, but not the long-run aggregate supply curve
d. the long-run aggregate supply curve, but not the long-run Phillips curve
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Short-run Phillips curve | Long-run Phillips curve MSC: Definitional
61. Suppose the central bank pursues an expansionary monetary policy. In the short-run the effects of this are shown by
a. moving to the left along the short-run Phillips curve.
b. moving to the right along the short-run Phillips curve.
c. shifting the short run Phillips curve right.
d. shifting the short run Phillips curve left.
ANS: A PTS: 1 DIF: 2 REF: 35-2
TOP: Short-run Phillips curve MSC: Definitional
62. Suppose that the central bank reduces the growth rate of the money supply. In the short-run the effects of this are
shown by
a. moving to the left along the short-run Phillips curve.
b. moving to the right along the short-run Phillips curve.
c. shifting the short run Phillips curve right.
d. shifting the short run Phillips curve left.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Short-run Phillips curve MSC: Definitional
63. A movement to the left along a given short-run Phillips curve could be caused by
a. a reduction in the natural rate of unemployment or expansionary monetary policy.
b. expansionary monetary policy, but not a reduction in the natural rate of unemployment.
c. either a reduction in the natural rate of unemployment or a contractionary monetary policy.
d. contractionary monetary policy, but not a reduction in the natural rate of unemployment.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Short-run Phillips curve MSC: Definitional
64. A movement to the right along a given short-run Phillips curve could be caused by
a. an increase in the natural rate of unemployment or expansionary monetary policy.
b. expansionary monetary policy, but not an increase in the natural rate of unemployment.
c. an increase in the natural rate of unemployment or a contractionary monetary policy.
d. contractionary monetary policy, but not an increase in the natural rate of unemployment.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Short-run Phillips curve MSC: Definitional
1442 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
65. A policy change that changes the natural rate of unemployment changes
a. neither the long-run Phillips curve nor the long-run aggregate supply curve.
b. both the long-run Phillips curve and the long-run aggregate supply curve.
c. the long-run Phillips curve, but not the long-run aggregate supply curve.
d. the long-run aggregate supply curve, but not the long-run Phillips curv
e.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Long-run aggregate supply MSC: Applicative
66. How would a decrease in the natural rate of unemployment affect the long-run Phillips curve?
a. It would shift the long-run Phillips curve right.
b. It would shift the long-run Phillips curve left.
c. There would be an upward movement along a given long-run Phillips curve.
d. There would be a downward movement along a given long-run Philips curv
e.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Natural rate of unemployment MSC: Applicative
67. Which of the following would shift the long-run Phillips curve right?
a. expansionary fiscal policy.
b. an increase in the inflation rate.
c. increases in unemployment compensation.
d. None of the above is correct.
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Applicative
68. For a number of years Canada and many European countries have had higher average unemployment rates than the
United States. This suggests that these countries
a. have higher average inflation rates than the United States.
b. have long-run Phillips curves to the right of the United States’.
c. may have less generous unemployment compensation or lower minimum wages.
d. All of the above are consistent with the evidence on unemployment rates.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
69. Germany has a higher natural rate of unemployment than the United States. This suggests that
a. Germany is at a higher point on its long-run Phillips curve and so has higher inflation than the United States.
b. Germany is at a lower point on its long-run Phillips curve and so has lower inflation than the United States.
c. Germany's Phillips curve is to the left of that of the United States, possibly because they have higher inflation.
d. Germany's Phillips curve is to the right of that of the United States, possibly because they have more generous
unemployment compensation.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Natural rate of unemployment MSC: Applicative
70. If the natural rate of unemployment falls,
a. both the short-run and long-run Phillips curves shift left.
b. the short-run Phillips curve shifts left, the long-run Phillips curve is unchanged.
c. the short-run Phillips curve is unchanged, the long-run Phillips curve shifts right.
d. the short-run and the long-run Phillips curves shift right.
ANS: A PTS: 1 DIF: 3 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
71. The position of the long-run Phillips curve and the long-run aggregate supply curve both depend on
a. the natural rate of unemployment and monetary growth.
b. the natural rate of unemployment, but not monetary growth.
c. monetary growth, but not the natural rate of unemployment.
d. neither monetary growth nor the natural rate of unemployment.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Long-run aggregate supply MSC: Applicative
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1443 72. If the long-run Phillips curve shifts to the right, for any given rate of money growth and inflation the economy will
have
a. higher unemployment and lower output.
b. higher unemployment and higher output.
c. lower unemployment and lower output.
d. lower unemployment and higher output.
ANS: A PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
73. If the long-run Phillips curve shifts to the left, for any given rate of money growth and inflation the economy will
have
a. higher unemployment and lower output.
b. higher unemployment and higher output.
c. lower unemployment and lower output.
d. lower unemployment and higher output.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
74. If the minimum wage increased, then at any given rate of inflation
a. both output and employment would be higher.
b. neither output nor employment would be higher.
c. output would be higher and unemployment would be lower.
d. output would be lower and unemployment would be higher.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Minimum wage MSC: Analytical
Use the graph below to answer the following questions.
Figure 35-2
75. Refer to Figure 35-2. Curve 1 is the
a. long-run aggregate supply curve.
b. short-run aggregate supply curve.
c. long-run Phillips curve.
d. short-run Phillips curv
e.
ANS: C PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Definitional
1444 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
76. Refer to Figure 35-2. Curve 2 is the
a. long-run Phillips curve.
b. short-run Phillips curve.
c. long-run aggregate demand curve.
d. short-run aggregate demand curv
e.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Definitional
77. Refer to Figure 35-2. If the economy starts at c and the money supply growth rate increases, in the short run the
economy
a. moves to
b.
b. moves to d.
c. moves to e.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Short-run Phillips curve MSC: Analytical
78. Refer to Figure 35-2. If the economy starts at c and the money supply growth rate decreases, in the short run the
economy
a. moves to
b.
b. stays at
c.
c. moves to e.
d. None of the above is correct.
ANS: A PTS: 1 DIF: 2 REF: 35-2
TOP: Short-run Phillips curve MSC: Analytical
79. Refer to Figure 35-2. If the economy starts at c and the money supply growth rate increases, in the long run the
economy
a. stays at c.
b. moves to b.
c. moves to e.
d. None of the above is correct.
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
80. Refer to Figure 35-2. The money supply growth rate is greatest at
a. a.
b. b.
c. c.
d. e.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1445 Use the two graphs in the diagram to answer the following questions.
Figure 35-3
81. Refer to Figure 35-3. Starting from c and 3, in the short run an unexpected increase in money supply growth moves
the economy to
a. a and 1.
b. b and 2.
c. back to c and 3.
d. d and 4.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Expansionary policy MSC: Analytical
82. Refer to Figure 35-3. Starting from c and 3, in the short run, an unexpected decrease in money supply growth moves
the economy to
a. a and 1.
b. b and 2.
c. back to c and 3.
d. d and 4.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Contractionary policy MSC: Analytical
83. Refer to Figure 35-3. Starting from c and 3, in the long run, an increase in money supply growth moves the economy
to
a. a and 1.
b. back to c and 3.
c. d and 4.
d. e and 5.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Expansionary policy MSC: Analytical
84. Refer to Figure 35-3. Starting from c and 3, in the long run, a decrease in money supply growth moves the economy
to
a. a and 1.
b. back to c and 3.
c. d and 4.
d. e and 5.
ANS: A PTS: 1 DIF: 2 REF: 35-2
TOP: Contractionary policy MSC: Analytical
1446 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
85. Refer to Figure 35-3. The economy would move from 3 to 5
a. in the short run if money supply growth increased unexpectedly.
b. in the short run if money supply growth decreased unexpectedly.
c. in the long run if money supply growth increases.
d. in the long run if money supply growth decreases.
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Expansionary policy MSC: Analytical
86. Refer to Figure 35-3. The economy would move from c to b
a. in the short run if money supply growth increased unexpectedly.
b. in the short run if money supply growth decreased unexpectedly.
c. in the long run if money supply growth increases.
d. in the long run if money supply growth decreases.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Contractionary policy MSC: Analytical
Figure 35-4
87. Refer to figure 35-4. Suppose the economy starts at 5% unemployment and 3% inflation and expected inflation
remains at 3%. Which one of the following points could the economy move to in the short run if the Federal Reserve pursues a more expansionary monetary policy?
a. 7% unemployment and 1% inflation
b. 7% unemployment and 3% inflation
c. 3% unemployment and 5% inflation
d. 3% unemployment and 7% inflation
ANS: C PTS: 1 DIF: 3 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
88. Refer to figure 35-4. If the economy starts at 5% unemployment and 5% inflation then if the Federal Reserve
pursues a contractionary monetary policy, in the short run the economy moves to
a. 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 5% inflation.
b. 3% unemployment and 5% inflation. In the long run the economy moves to 5% unemployment and 3% inflation.
c. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 5% inflation.
d. 7% unemployment and 3% inflation. In the long run the economy moves to 5% unemployment and 3% inflation. ANS: D PTS: 1 DIF: 3 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1447
89. On a given short-run Phillips curve which of the following is held constant?
a. the level of GDP
b. actual inflation
c. expected inflation
d. employment
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Short-run Phillips curve MSC: Analytical
90. A change in expected inflation shifts
a. the short-run Phillips curve, but not the long run Phillips curve.
b. the long-run Phillips curve, but not the long run Phillips curve.
c. neither the short-run nor the long-run Phillips curve.
d. both the short-run and long-run Phillips curve right.
ANS: A PTS: 1 DIF: 1 REF: 35-2
TOP: Inflation expectations | Phillips curve MSC: Applicative
91. An increase in expected inflation shifts
a. the long-run Phillips curve right.
b. the short-run Phillips curve right.
c. neither the short-run nor long-run Phillips curve right.
d. both the short-run and long-run Phillips curve right.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Inflation expectations | Phillips curve MSC: Applicative
92. A decrease in expected inflation shifts
a. the long-run Phillips curve left.
b. the short-run Phillips curve left.
c. neither the short-run nor long-run Phillips curve left.
d. both the short-run and long-run Phillips curve left.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Inflation expectations | Phillips curve MSC: Applicative
93. An increase in expected inflation shifts the
a. short-run Phillips curve right.
b. short-run Phillips curve left.
c. long-run Phillips curve right.
d. long-run Phillips curve left.
ANS: A PTS: 1 DIF: 1 REF: 35-2
TOP: Inflation expectations | Phillips curve MSC: Applicative
94. If inflation expectations rise, the short-run Phillips curve shifts
a. right, so that at any inflation rate unemployment is higher in the short run than before.
b. left, so that at any inflation rate unemployment is higher in the short run than before.
c. right, so that at any inflation rate unemployment is lower in the short run than before.
d. left, so that at any inflation rate unemployment is lower in the short run than befor
e.
ANS: A PTS: 1 DIF: 2 REF: 35-2
TOP: Inflation expectations MSC: Analytical
95. If inflation expectations decline, than the short-run Phillips curve shifts
a. left, meaning that at any given inflation rate unemployment will be lower in the short run than before.
b. right, meaning that at any given inflation rate unemployment will be lower in the short run than before.
c. right, meaning that at any given inflation rate unemployment will be higher in the short run than before.
d. left, meaning that at any given inflation rate unemployment will be higher in the short run than befor
e.
ANS: A PTS: 1 DIF: 3 REF: 35-2
TOP: Inflation expectations MSC: Applicative
1448 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
96. According to Phelps and Friedman, in the short run, an increase in the money supply
a. raises prices and unemployment.
b. raises prices and reduces unemployment.
c. reduces prices and raises unemployment.
d. None of the above is correct.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Expansionary policy MSC: Interpretive
97. Friedman and Phelps argued that
a. if peoples' inflation expectations were fixed, then an increase in the money supply growth rate could not change
output in the short or long run.
b. if peoples' inflation expectations were fixed, then a decrease in the money supply growth rate could raise output
and unemployment in the short run.
c. any change in unemployment created by making aggregate demand increase more rapidly is temporary because
people eventually revise their inflation expectations.
d. None of the above is correct.
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Analytical
98. The analysis of Friedman and Phelps can be summarized in the following equation where a is positive number:
a. Unemployment Rate = Natural Rate of Unemployment - a(Actual Inflation - Expected Inflation).
b. Unemployment Rate = Natural Rate of Unemployment - a(Expected Inflation - Actual Inflation).
c. Unemployment Rate = Expected Rate of Inflation - a(Actual Inflation - Expected Inflation).
d. Unemployment Rate = Actual Rate of Inflation - a(Actual Unemployment - Expected Unemployment). ANS: A PTS: 1 DIF: 2 REF: 35-2
TOP: Phillips curve equation MSC: Interpretive
99. According to Friedman and Phelps, the unemployment rate is above the natural rate when actual inflation
a. is greater than expected inflation.
b. is less than expected inflation.
c. equals expected inflation.
d. low whether its greater than or less than expected.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Natural rate of unemployment | Phillips curve MSC: Interpretive
100. According to Friedman and Phelps's analysis of the Phillips curve,
a. the unemployment rate will be below its natural rate whenever inflation is negative.
b. the unemployment rate will be below its natural rate whenever inflation is positive.
c. the unemployment rate will be below its natural rate only if inflation is less than expecte
d.
d. the unemployment rate will be below its natural rate only if inflation is greater than expected.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Natural rate of unemployment MSC: Definitional
101. According to Friedman and Phelps, the unemployment rate
a. depends on neither actual or expected inflation.
b. is below its natural rate when actual inflation is greater than expected inflation.
c. is below its natural rate when actual inflation is less than expected inflation.
d. is below its natural rate when actual inflation equals expected inflation.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Natural rate of unemployment | Phillips curve MSC: Interpretive
102. According to Friedman and Phelps, policymakers face a tradeoff between inflation and unemployment
a. only in the long run.
b. only in the short run.
c. in neither the long run nor short run.
d. in both the short run and long run.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Phillips curve MSC: Definitional
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1449 103. Friedman and Phelps concluded that
a. in the long run the Phillips curve is downward sloping which is consistent with classical theory.
b. in the long run the Philips curve is downward sloping which is inconsistent with classical theory.
c. in the long run the Phillips curve is vertical which is consistent with classical theory.
d. in the long run the Phillips curve is vertical which is inconsistent with classical theory.
ANS: C PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Definitional
104. Policymakers
a. can not exploit a tradeoff between inflation and unemployment in either the short or long run.
b. can exploit a tradeoff between inflation and unemployment in the short run but not in the long run.
c. can exploit a tradeoff between inflation and unemployment in both the short run and the long run.
d. can exploit a tradeoff between inflation and unemployment in the long run, but not the short run.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Long-run Phillips curve MSC: Interpretive
105. A policy intended to take reduce unemployment by taking advantage of a tradeoff between inflation and unemployment leads to
a. both higher inflation and higher unemployment in the long run.
b. higher inflation and no reduction in unemployment in the long run.
c. the same inflation rate and lower unemployment in the long run.
d. higher inflation and lower unemployment in the long run
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Expansionary policy MSC: Interpretive
106. A central bank sets out to reduce unemployment by changing the money supply growth rate. The long-run Phillips curve shows that in comparison to their original rates that this policy will eventually lead to
a. an increase in both the inflation rate and the unemployment rate.
b. an increase in the inflation rate and a reduction in the unemployment rate.
c. no change in either the inflation rate or the unemployment rate.
d. an increase in the inflation rate and no reduction in the unemployment rat
e.
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Expansionary policy MSC: Interpretive
107. In the long run, an increase in the money supply
a. leaves prices and unemployment unchanged.
b. raises prices and unemployment.
c. raises prices and leaves unemployment unchange
d.
d. leaves prices unchanged and reduces unemployment.
ANS: C PTS: 1 DIF: 1 REF: 35-2
TOP: Expansionary policy MSC: Analytical
108. The short-run Phillips curve intersects the long-run Phillips curve where
a. expected inflation is greater than actual inflation.
b. expected inflation equals actual inflation.
c. the quantity of goods and services demanded equals the quantity supplie
d.
d. the quantity of labor demanded equals the quantity supplied.
ANS: B PTS: 1 DIF: 1 REF: 35-2
TOP: Phillips curve | Inflation expectations MSC: Definitional
109. If the economy is at the point where the short-run Phillips curve intersects the long-run Phillips curve,
a. unemployment equals the natural rate and expected inflation equals actual inflation.
b. unemployment is above the natural rate and expected inflation equals actual inflation.
c. unemployment equals the natural rate and expected inflation is greater than actual inflation.
d. None of the above is necessarily correct.
ANS: A PTS: 1 DIF: 1 REF: 35-2
TOP: Phillips curve | Inflation expectations MSC: Analytical
1450 Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment
110. The position of the long-run Phillips curve depends on
a. the inflation rate and the natural rate of unemployment.
b. the inflation rate but not the natural rate of unemployment.
c. the natural rate of unemployment, but not the inflation rate.
d. neither the natural rate of unemployment nor the inflation rat
e.
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve MSC: Interpretive
111. In the long run, a decrease in the money supply growth rate
a. increases inflation and shifts the short-run Phillips curve right.
b. increases inflation and shifts the short-run Phillips curve left.
c. decreases inflation and shifts the short-run Philips curve right.
d. decreases inflation and shifts the short-run Phillips curve left.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Phillips curve | Contractionary policy MSC: Analytical
112. In the long run, an increase in the money supply growth rate
a. increases inflation and shifts the short-run Phillips curve right.
b. increases inflation and shifts the short-run Phillips curve left.
c. decreases inflation and shifts the short-run Philips curve right.
d. decreases inflation and shifts the short-run Phillips curve left.
ANS: A PTS: 1 DIF: 2 REF: 35-2
TOP: Phillips curve | Expansionary policy MSC: Analytical
113. In the long run, a decrease in the money supply growth rate
a. shifts both the long-run and the short-run Phillips curves right.
b. shifts the long-run Phillips curve left and the short-run Phillips curve right.
c. shifts the long-run Phillips curve right and the short-run Phillips curve left.
d. None of the above is correct.
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Phillips curve | Contractionary policy MSC: Applicative
114. In the long run, an increase in the money supply growth rate
a. shifts both the long-run and the short-run Phillips curves right.
b. shifts the long-run Phillips curve left and the short-run Phillips curve right.
c. shifts the long-run Phillips curve right and the short-run Phillips curve left.
d. None of the above is correct.
ANS: D PTS: 1 DIF: 1 REF: 35-2
TOP: Phillips curve | Expansionary policy MSC: Applicative
115. The long-run response to a decrease in the money supply growth rate is shown by shifting
a. the short-run and long-run Phillips curves left.
b. the short-run and long-run Phillips curves right.
c. only the short-run Phillips curve left.
d. only the short-run Phillips curve right.
ANS: C PTS: 1 DIF: 2 REF: 35-3
TOP: Phillips curve | Contractionary policy MSC: Applicative
116. The long-run response to an increase in the growth rate of the money supply is shown by shifting
a. the short-run and long-run Phillips curves left.
b. the short-run and long-run Phillips curves right.
c. only the short-run Phillips curve left.
d. only the short-run Phillips curve right.
ANS: D PTS: 1 DIF: 2 REF: 35-3
TOP: Phillips curve | Expansionary policy MSC: Applicative
Chapter 35 /The Short-Run Trade-off between Inflation and Unemployment 1451 117. In the long run a reduction in the money supply growth rate effects
a. the inflation rate and the natural rate of unemployment.
b. the inflation rate, but not the natural rate of unemployment.
c. neither the inflation rate nor the natural rate of unemployment.
d. the natural rate of unemployment, but not the inflation rat
e.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Contractionary policy MSC: Analytical
118. In the long run an increase in the money supply growth rate effects
a. the inflation rate and the natural rate of unemployment.
b. the inflation rate, but not the natural rate of unemployment.
c. neither the inflation rate nor the natural rate of unemployment.
d. the natural rate of unemployment, but not the inflation rat
e.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Expansionary policy MSC: Analytical
119. Suppose the Fed decreased the growth rate of the money supply. Which of the following would be lower in the long run?
a. both the natural rate of unemployment and the inflation rate
b. the natural rate of unemployment, but not the inflation rate
c. the inflation rate, but not the natural rate of unemployment
d. neither the natural unemployment rate nor the inflation rate
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Contractionary policy MSC: Analytical
120. Suppose the Fed increased the growth rate of the money supply. Which of the following would be higher in the long run?
a. both the natural rate of unemployment and the inflation rate
b. the natural rate of unemployment, but not the inflation rate
c. the inflation rate, but not the natural rate of unemployment
d. neither the natural unemployment rate nor the inflation rate
ANS: C PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Expansionary policy MSC: Analytical
121. Suppose the Federal Reserve pursues contractionary monetary policy. In the long run
a. both inflation and the unemployment rate are higher than they were prior to the change in policy.
b. inflation is higher and the unemployment rate is the same as it was prior to the change in policy.
c. inflation is lower and the unemployment rate is lower than it was prior to the change in policy.
d. inflation is lower and unemployment is the same as it was prior to the change in policy.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Contractionary policy MSC: Applicative
122. Suppose the Federal Reserve makes monetary policy more expansionary. In the long run
a. both inflation and the unemployment rate are higher than they were prior to the change in policy.
b. inflation is higher and the unemployment rate is the same as it was prior to the change in policy.
c. inflation is lower and the unemployment rate is lower than it was prior to the change in policy.
d. inflation is lower and unemployment is the same as it was prior to the change in policy.
ANS: B PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Expansionary policy MSC: Applicative
123. More flexible labor markets will shift
a. both the long-run Phillips curve and the long-run aggregate supply curve to the right.
b. both the long-run Phillips curve and the long-run aggregate supply curve to the left.
c. the long-run Phillips curve to the right and the long-run aggregate supply curve to the left.
d. the long-run Phillips curve to the left and the long-run aggregate supply curve to the right.
ANS: D PTS: 1 DIF: 2 REF: 35-2
TOP: Long-run Phillips curve | Long-run aggregate supply MSC: Applicative
经济学原理对应练习 21
Chapter 21 The Theory of Consumer Choice Multiple Choice 1. The theory of consumer choice provides the foundation for understanding a. the structure of a firm. b. the profitability of a firm. c. a firm's product deman d. d. a firm's product supply. ANS: C PTS: 1 DIF: 1 REF: 21-0 TOP: Consumer choice MSC: Definitional 2. The theory of consumer choice examines a. the determination of output in competitive markets. b. the tradeoffs inherent in decisions made by consumers. c. how consumers select inputs into manufacturing production processes. d. the determination of prices in competitive markets. ANS: B PTS: 1 DIF: 1 REF: 21-0 TOP: Consumer choice MSC: Definitional 3. Consider two goods, books and hamburgers. The slope of the consumer's budget constraint is measured by the a. consumer's income divided by the price of hamburgers. b. relative price of books and hamburgers. c. consumer's marginal rate of substitution. d. number of books purchased divided by the number of hamburgers purchased. ANS: B PTS: 1 DIF: 2 REF: 21-1 TOP: Budget constraint MSC: Interpretive 4. If a consumer's income decreases, the budget constraint for CDs and DVDs will a. shift outward, parallel to the original budget constraint. b. shift inward, parallel to the original budget constraint. c. rotate outward along the CD axis because we can afford more CDs. d. rotate outward along the DVD axis because we can afford more DVDs. ANS: B PTS: 1 DIF: 2 REF: 21-1 TOP: Budget constraint MSC: Analytical 5. If the relative price of a concert ticket is 3 times the price of a meal at a good restaurant, then the opportunity cost of a concert ticket can be measured by the a. slope of the budget constraint. b. slope of an indifference curve. c. marginal rate of substitution. d. income effect. ANS: A PTS: 1 DIF: 2 REF: 21-1 TOP: Budget constraint MSC: Analytical 6. When the price of a shirt falls, the a. quantity of shirts demanded falls. b. quantity of shirts demanded rises. c. quantity of shirts supplied rises. d. demand for shirts falls. ANS: B PTS: 1 DIF: 1 REF: 21-1 TOP: Demand MSC: Analytical 898
政治经济学原理试题和答案
第一部分选择题（共50分） 一、单项选择题（本大题共30小题，每小题1分，共30分）在每个小题列出的四个备选项中只有一个是符合题目要求的，请将其选出并将其号码填在题干后的括号内。 1. 马克思主义政治经济学的研究任务是（B ） A. 研究生产力及其发展规律 B. 揭示客观经济规律 C. 揭示资本主义剥削的实质 D. 研究社会经济运行状况 2. 衡量社会生产力发展水平的主要标志是（C ） A. 劳动资料 B. 劳动对象 C. 生产工具 D. 生产的产品 3. 商品的社会属性是指（ B ） A. 使用价值（自然属性） B. 价值 C. 交换价值 D. 抽象劳动 4. 决定商品价值量的是（ D ） A. 简单劳动 B. 商品的使用价值 C. 价格标准 D. 社会必要劳动时间 5. 1只绵羊＝2把石斧表示的是（D ） A. 一般的价值形式 B. 总和的或扩大的价值形式 C. 货币形式 D. 简单的或偶然的价值形式 6. 在商品供求关系平衡的条件下，商品价格（ A ） A. 与商品价值成正比，与货币价值成反比 B. 与商品价值成正比，与货币价值成正比 C. 与商品价值成反比，与货币价值成反比 D. 与商品价值成反比，与货币价值成正比
7. 货币转化为资本的前提条件是（ A ） A.劳动力成为商品 B. 生产资料可以买卖 C. 货币是一般等价物 D. 货币是社会财富的一般代表 8. 通过提高工人劳动强度取得剩余价值属于（ A ） A.绝对剩余价值 B. 相对剩余价值。在工作日长度不变的条件下，由于缩短必要劳动时间、相应延长剩余劳动时间而产生的剩余价值。相对剩余价值是全体资本家长期获得的，以全社会劳动生产率普遍提高为条件。 C. 超额剩余价值。个别资本家通过提高劳动生产率，使自己商品的个别价值低于社会价值而比一般资本家多得的那部分剩余价值。 D. 超额利润 9. 社会再生产就其内容来讲包括（ C ） A. 简单再生产和扩大再生产 B. 外延式扩大再生产和内涵式扩大再生产 C. 物质资料的再生产和生产关系的再生产 D. 生产资料的再生产和消费资料的再生产 10. 计件工资是（ A ） A. 计时工资的转化形式 B. 名义工资的转化形式 C. 实际工资的转化形式 D. 货币工资的转化形式 11. 资本积聚（ A ） A. 是依靠剩余价值的资本化实现的 B. 是由众多中小资本合并实现的 C. 是借助于竞争和信用来实现的 D. 不受社会财富增长速度的限制 12. 货币资本的循环公式是（A ）
经济学原理_试题(B)
南开大学经济学院本科2010级经济学原理期末考试（B 卷） 专业： 姓名 学号 成绩 任课教师： 一、单项选择（每小题2分，共30分） < 1、关于生产可能性边界，以下不正确的是：（ ） A 、 生产可能性边界是一个国家利用资源所能生产出的最大商品集合的边界。 B 、 生产可能性边界的斜率代表了增加某种商品产出的机会成本。 C 、 生产可能性边界凹向原点是因为资源的稀缺性。 D 、 生产可能性边界随着技术进步而向右移动。 2、对一种奢侈品征税，很可能使税收负担（ ） A 、 更多的落在买者身上 B 、 、 C 、 更多的落在卖者身上 D 、 在买者和卖者之间平等的分摊 E 、 完全落在买者身上 3、假设可以购买三个一样的鼠标。买者1愿意为一个鼠标支付60元钱，买者2愿意为一个鼠标支付50元钱，买者3愿意为一个鼠标支付40元钱。如果鼠标的市场价格是50元钱，将卖出多少鼠标，这个市场的消费者剩余值是多少（ ） A 、 将卖出一个鼠标，消费者剩余值为60元钱 B 、 将卖出三个鼠标，消费者剩余值为0元 C 、 将卖出三个鼠标，消费者剩余值为10元 D 、 将卖出两个鼠标，消费者剩余值为10元 ; 4、如果一个竞争企业的产量翻了一番，它的总收益（ ） A 、 翻一番 B 、 翻了一番还多 C 、 翻了不到一番 D 、 不能确定，因为物品价格可能上升或下降。 5、在能供给整个市场的产量时，其平均总成本一直下降到最小的企业称为（ ） A 、 完全竞争者 B 、 自然垄断 C 、 政府垄断
E、受管制的垄断 6、垄断竞争企业在长期内经济利润为零，是因为：（） A、市场上存在许多卖者。 B、虽然产品有差异，但产品之间的差异不够大。 C、企业可以无成本的自由进入与退出市场。 D、以上都是。 7、在以下商品中，提高价格最有可能使生产者的收入提高的商品是：（） A、粮食。 B、》 C、高档服装。 D、汽车。 E、手机。 8、下列哪个事件影响了2010年中国的国内生产总值GDP（） A、2010年中国人的家庭劳动 B、2010年中国公司在海外承包的大型建设工程 C、2010年在中国的一家钢铁公司为另一家在中国的造船厂生产的特种钢材。 D、2010年在中国的一家汽车公司把生产出来的汽车封入库存，以便明年旺季销售。 . 9、X与Y两种商品的价格分别由去年的10元与2元上涨至今年的11元与元，如果一个篮子是由4个X和10个Y组成的，那么以去年为基期，今年的通货膨胀率是（） A、10％ B、15% C、20％ D、25％ 10、下列情况中可能会降低社会的失业率的是（） A、政府组织公共培训计划 B、政府提高最低工资水平 C、工会为其会员争取更高的工资待遇 D、| E、企业实行效率工资 11、下列不属于中央银行货币政策工具的是（） A、公开市场操作 B、法定准备金 C、贴现率 D、发行或回购国债 12、假定货币供应量是万亿，真实GDP是5万亿，物价水平是2，货币流通速度则是（）
华工《经济学原理》随堂练习答案
A. B. D. 西方经济学认为，所有社会都要解决（ A. B. C. D. 作为经济学的两个组成部分，微观经济学与宏观经济学是：（ A. B. D. 微观经济学理论是根据( A. B. C. D. 现代西方宏观经济学的研究正式开始的标志是（ A. B. D. 主要说明的是“应该是什么”的问题。 A. B. C. D. 下面属于宏观经济学研究范畴的是（
A. B. C. A. B. C. A. B. C. 第二章生产是什么 A. B. D. 边际效用递减意味着：（ A. B. C. D. 边际效用递减规律表明，随着消费者对某种商品消费量的增加
A. B. D. 某消费者逐渐增加某种商品的消费量，直到实现效用最大化。在这一过程 A. B. C. D. 如果商品的边际效用为零，那么（ A. B. D. 已知某消费者的收入是200元，商品 A. B. C. D. 总效用达到最大时：（ A. B. D. 对于公共产品的概念，以下表述正确的是
A. B. C. D. 西方经济学在研究消费者行为时，提出了以下假设：（ A. B. C. A. B. C. 第三章如何生产 A. B. D. 某厂商增加各种要素投入增加 A. B. C. D. 亨利花了一个小时购物并买了一件价值 A. B. D. 利润最大化的原则是：（
A. B. C. D. 当某厂商以最小的成本生产出既定产量时，那它（ A. B. D. 下面关干边际成本和平均成本的说法中哪个是正确的： A. B. C. D. 下列因素中，（）是可变成本。 A. B. D. 如果总产量从单位增加到 A. B. C. D. 如果增加1单位产量所增加的边际成本小于产量增加前的平均成本 A. B. C. D.
经济学原理试题
一、判断题（下列各题，如果您认为正确，请在题后的括号中打上“√”号，否则请打上“×”号，每题1分，共10分）1.由于世界资源是有限的，当两个国家发生贸易时，一个国家的消费如果增加，另一个国家的消费必定减少。（）2．假设其他条件都不变，当苹果的价格升高时，苹果的供给就会增加。（）3．无论是完全竞争还是垄断竞争，厂商在长期内只能得到正常利润。（）4．根据边际效用递减规律，消费者的总满意度会随着所吃糖块数量的增加而减少。（） 5. 当苹果的价格处于均衡价格时，每个想得到苹果的人都可以得到。（） 6.通货膨胀期间的所有价格都上涨。（）7.财政政策的作用，是通过政府的税收和支出的力量而移动总供给曲线。（）8.对经济学家来说，投资这个词表示购买股票。（）9.当你把50美元存入你的支票账户的时候，M1仍然不变。（）10.自动稳定器存在一个潜在执行上的滞后，因为萧条开始时，国会需讨论所面临的问题。（）二、单项选择题（每题1分，共50分） 1.以下不属于生产要素的是（） A.电脑B.用于创办新公司的100万美元C．工厂的工人D.在达拉斯的一块空地皮 2.我计划去看一场5美元的电影而不是复习准备考试，这场电影的总机会成本是（） A.是我用这5美元所能买到的东西以及我所放弃的学习时间。 B.是5美元。 C.取决于电影好看与否。 D.是我在相同时间里所能学到的东西。 3.市场机制是（） A.依靠销售和价格来向生
产者传递信息。 B.消除由于政府干预而导致的市场失灵。 C.通过政府的中央计划得以实现。 D.是非常无效率的，因为无法通过直接的方式在消费者和生产者之间进行沟通。 4.一个社会必须关注生产什么这一问题，因为（）A．政府失灵。 B.一个经济体内部的资金是有限的。 C.生产可能性曲线。D．它不能生产所需要的所有商品和服务。 5.下面哪种情况能够使生产可能性曲线向外移动（）A．经济体中资金量的增加。 B.雇佣工人数量的减少。 C.技术的提高。 D.美国移民数量的减少。6．某消费者消费一个单位的某商品获得的效用为50，消费两单位该商品的效用为90，消费三单位的效用为121，则该消费者消费第三单位的该商品获得的效用边际效用为（）A．87 B. 40 C.31 D.71 7.当人们的收入水平提高时,则食物支出占总支出的比重将( )。 A. 大大增加 B. 稍有增加 C. 不变D. 8.如果某商品的价格从3元上升到5元,其需求量从11单位下降到9单位,该厂商的收益将( )。 A. 增加B. C. 不变 D. 9.在其他条件不变的情况下,如果某商品的价格下降10％能够引起消费者在该商品上的总支出增加1％,则这种商品的需求量对其价格是( )。 A. 富有弹性的 B. 缺乏弹性的C. 单元弹性的 D. 10.总产量曲线的斜率是（） A.总产量 B.平均产量 C.边际产量
经济学原理对应练习
如有你有帮助，请购买下载，谢谢！Chapter 21 The Theory of Consumer Choice Multiple Choice 1. The theory of consumer choice provides the foundation for understanding a. the structure of a firm. b. the profitability of a firm. c. a firm's product deman d. d. a firm's product supply. ANS: C PTS: 1 DIF: 1 REF: 21-0 TOP: Consumer choice MSC: Definitional 2. The theory of consumer choice examines a. the determination of output in competitive markets. b. the tradeoffs inherent in decisions made by consumers. c. how consumers select inputs into manufacturing production processes. d. the determination of prices in competitive markets. ANS: B PTS: 1 DIF: 1 REF: 21-0 TOP: Consumer choice MSC: Definitional 3. Consider two goods, books and hamburgers. The slope of the consumer's budget constraint is measured by the a. consumer's income divided by the price of hamburgers. b. relative price of books and hamburgers. c. consumer's marginal rate of substitution. d. number of books purchased divided by the number of hamburgers purchased. ANS: B PTS: 1 DIF: 2 REF: 21-1 TOP: Budget constraint MSC: Interpretive 4. If a consumer's income decreases, the budget constraint for CDs and DVDs will a. shift outward, parallel to the original budget constraint. b. shift inward, parallel to the original budget constraint. c. rotate outward along the CD axis because we can afford more CDs. d. rotate outward along the DVD axis because we can afford more DVDs. ANS: B PTS: 1 DIF: 2 REF: 21-1 TOP: Budget constraint MSC: Analytical 5. If the relative price of a concert ticket is 3 times the price of a meal at a good restaurant, then the opportunity cost of a concert ticket can be measured by the a. slope of the budget constraint. b. slope of an indifference curve. c. marginal rate of substitution. d. income effect. ANS: A PTS: 1 DIF: 2 REF: 21-1 TOP: Budget constraint MSC: Analytical 6. When the price of a shirt falls, the a. quantity of shirts demanded falls. b. quantity of shirts demanded rises. c. quantity of shirts supplied rises. d. demand for shirts falls. ANS: B PTS: 1 DIF: 1 REF: 21-1 TOP: Demand MSC: Analytical 898页
政治经济学试题及答案
政治经济学 一、单项选择题1、商品的使用价值与一般物品的使用价值的区别在于（ A ） a、前者是劳动生产出来的，后者是天然具有的 b、前者是他人生产的，后者是为自己生产的 c、前者构成社会财富的物质容，后者不是社会财富 d、商品使用价值是商品价值的物质承担者 2、马克思指出：“如果物没有用，那么其中包含的劳动也就没有用，不能算作劳动，因此不形成价值。”这句话说明（ B ） a、只要物是有用的，它就有价值 b、价值的存在以物的有用性为前提 c、价值的存在与物的有用性互为前提 d、物越是有用就越有价值 3、货币转化为资本的决定性条件是（） a、劳动产品成为商品 b、生产资料成为商品 c、劳动力成为商品 d、资本家手中集中了很多商品 4、商品的价值量由生产商品的必要劳动时间所决定，它是在（A ） a、同类商品的生产者之间的竞争实现的 b、不同商品的生产者之间的竞争中实现的 c、商品生产者与消费者之间的竞争中实现的 d、商品生产者与销售者之间的竞争中实现的 5、复杂劳动可以折合为倍加的简单劳动，这种折合比例（C） a、参加交换的商品生产者自觉协商出来的 b、由经纪人规定并取得买卖双方同意的 c、在无数次交易中自发形成的 d、由社会职能部门自觉计算出来的 6、商品在的使用价值和价值的矛盾，其完备的外在表现形式是（C ） a、具体劳动与抽象劳动的对立 b、商品与货币之间的对立 c、私人劳动与社会劳动之间的对立 d、商品与商品之间的对立 7、货币的基本职能是（ A ） a、价值手段与流通手段 b、支付手段与世界货币 c、储藏手段与支付手段 d、流通手段与储藏手段 8、简单商品经济的基本矛盾是（） a、个别劳动时间与社会必要劳动时间的矛盾 b、使用价值与价值的矛盾 c、具体劳动与抽象劳动的矛盾 d、私人劳动与社会劳动的矛盾 9、在生产过程中劳动力商品所创造的新价值是（） a、剩余价值 b、商品价值 c、劳动力自身价值 d、剩余价值和劳动力价值之和 10、从整个社会来讲，在不延长工作日且实际工资还有所提高的情况下（） a、工人所受剥削就会有所减轻 b、剩余价值率仍会提高 c、资本家攫取的剩余价值量不会增加 d、剩余价值量仍可增加 11、剩余价值转化为利润掩盖了资本主义剥削关系的实质，是因为（） a、剩余价值被视为不变资本的产物 b、剩余价值被视为所费资本的产物 c、剩余价值被视为全部预付资本的产物 d、剩余价值被视为超过成本价格的部分 12、商业利润来源于（） a、商业销售人员创造的剩余价值 b、商品购销价格的差额 c、资本在流通领域的增值 d、产业工人所创造的剩余价值的一部分 13、同一生产部门部的竞争形成商品的（） a、社会价值 b、平均利润 c、生产价格 d、成本价格 14、平均利润形成后，商品价格上下波动围绕的中心是（） a、成本价格 b、生产价格 c、同一部门商品的平均价格 d、同一部门商品的平均成本 15、资本主义级差地租产生的原因是（） a、对土地的资本主义经营垄断 b、土地私有权的垄断 c、对同一块土地连续追加投资的收益不同 d、土地的优劣等级差别
经济学原理试卷及答案
《经济学原理》（A卷） 专业：学号：姓名：分数： 一、选择题（每小题2分，共40分,每题只有一个正确答案） 1、由于选择人们不得不付出的代价被称为（） A、费用 B、成本 C、机会成本 D、支出 2、微观经济学要解决的问题是（） A、既定资源的配置 B、资源总量的决定 C、如何实现充分就业 D、国民收入的决定 3、若某商品价格上升2％，其需求量下降10％，则该商品的需求（） A、缺乏弹性 B、富有弹性 C、具有单位弹性 D、完全无弹性 4、边际效用递减意味着，随着对一种商品消费数量的增加（） A、商品价格越来越高 B、无差异曲线向右下方倾斜 C、预算约束线的斜率越来越小 D、消费者为增加一单位该商品支付的意愿减少 5、在完全竞争市场上，厂商的短期供给曲线是（） A、MC以上的AVC曲线 B、MC以上的AC曲线 C、AVC以上的MC曲线 D、AC以上的MC曲线 6、在完全垄断市场上，厂商面对的需求曲线（） A、与数量轴平行 B、与边际收益曲线重合 C、向右下方倾斜 D、位于边际收益曲线的下方 7、公共物品导致市场失灵，是因为它们具有（） A、竞争性 B、非排他性 C、排他性 D、有用性 8、在国民收入核算体系中，一定时期内一国生产的所有最终产品和劳务的市场价值总和是指（） A、国内生产总值 B、国民收入 C、国内生产净值 D、可支配收入总和 9、失业率是指（） A、失业人数占劳动力总数的百分比 B、失业人数占就业人数的百分比 C、失业人数城镇劳动力总数的百分比 D、失业人数占整个国家人数的百分比 10、在总需求与总供给的短期均衡中，总需求增加必然导致（） A、国民收入减少，价格总水平下降
经济学原理对应练习--11
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