宏观经济学选择题 题集 全

宏观经济学选择题题集全1. The goals of macroeconomic policy include: EA) high employmentB) low unemploymentC) stable pricesD) growing real GDPE) all of the above2. Suppose that in a particular year, nominal GDP is less than real GDP. This implies that:EA) inflation is lowB) inflation is highC) the year in question prior to the base yearD) the year in question after the base yearE) the answer cannot be determined from the information given3. The two approaches that economists use to measure GDP are:EA) the goods flow and investment flowB) current surveys and historical dataC) the product flow and spending flowD) household tax returns and corporate tax returnsE) the product flow and the earnings flow4. What must be done to equalize the flow-of-product and the earnings or cost approaches?AA) Intermediate goods must be subtracted from the flow-of-product sumB) Profits must be considered a residual costC) Imputed rents must be excludedD) The dollar value of services produced mustbe included in the flow-of-productE) Transfer payments by the government must be included in the flow-of-cost approach5. The MPC is the ratio of AA) Extra consumption to extra incomeB) Extra consumption to extra savingC) Extra consumption to total incomeD) Total consumption to total incomeE) Break-even consumption to break-even income6. Which of the following is not considered a category of investment?AA) Stock and bond purchases.B) Purchases of plant and equipmentC) Purchases adding to inventoriesD) Residential housing constructionE) None of above7. Which of the following best describes the money-supply effect?AA) As prices rise, tight money leads to a decrease in total real spendingB) As the Fed injects more money into the economy, prices increaseC) Tight money causes recessionsD) The greater the money supply, the greater the growth of the economyE) None of the above8. On the basis of the Keynesian model of output determination, equilibrium gross domesticproduct is described by all but which one of the following?A) Intersection of SS schedule with the II scheduleB) Intersection of the consumption-plus-saving schedule with the investment scheduleC) Intended investment equals actual investmentD) Maintainable C+I spending equals production expenses, including profitE) Intersection of the C+I line with the 45-degree line9. Which of the following best describes the accelerator principle?CA) Once an economy passes a peak, the decline becomesself-perpetuatingB) An economy recovering from a trough, first grows faster, then slowerC) Investment spending is stimulated by a growing economy; this in turn encourages moreeconomic growthD) The accelerate-principle is related to large external shocks to the economyE) None of the above10. On the basis of the Keynesian model of output determination fora closed economy, themultiplier can be expressed algebraically as:A) 1/MPCB) 1/MPC – 1/MPSC) 1/(1-MPS)D) 1/MPSE) MPC/MPS11. Which of the following is an accurate statement according to the Keynesian model?A) Prices and wages always respond quickly to clear marketsB) The aggregate supply curve is vertical above potential GDPC) Changes in aggregate demand can affect GDP, in the short run at least, if there existunemployed resourcesD) Policy has no effect on the level of employment because it cannot change the level of GDPE) All of the above12. A reduction in legal required reserve ratio will tend toA) Reduce the money supply and reduce commercial bank loansB) Reduce the money supply and increase commercial bank loansC) Increase the money supply and increase commercial bank loansD) Increase the money supply and decrease commercial bank loansE) Leave the money supply unaffected13. The power of the Federal Reserve to expand the total money supply is considerably restrictedif:A) Commercial banks wish to hold no vault cashB) Commercial banks are holding large excess reservesC) Commercial banks are holding just the required amount of reservesD) All Commercial banks are members of the Federal ReserveE) Interest rates are high14. Required reserve ratios:A) Exist primarily to ensure that deposits are safeB) Exist to penalize banks that are member of the Federal Reserve SystemC) Exist primarily to help the Fed control the money supplyD) Exist for all of the above reasonsE) Exist for none of the above reasons15. If legal required reserve ratios are increased, then there is a tendency for:A) The money supply to decrease and commercial bank loans to increaseB) Both money supply and commercial bank loans to decreaseC) The money supply to increase and commercial bank loans to decreaseD) Both money supply and commercial bank loans to increaseE) The money supply to decrease and commercial bank loans to remain unchanged16. A reduction in reserve requirements of member banks tends to counter a recession by:A) The issuing and redemption of gold certificatesB) Consumer-credit controlsC) Discount-rate policyD) Changes in bank reserve requirementsE) Open-market operations17. The Federal Reserve authorities’ single most important stabilizing weapon is:A) The issuing and redemption of gold certificatesB) Consumer-credit controlsC) Discount-rate policyD) Changes in bank reserve requirementsE) Open-market operations18. Raising the discount rate, if effective, tends to:A) Expend the money supply and lower interest ratesB) Expend the money supply and raise interest ratesC) Contract the money supply and raise interest ratesD) Contract the money supply and lower interest ratesE) Do none of the above19. Which one of the following combinations represents the tools of monetary policy that aremost available to the Federal Reserve in the effective exercise of monetary policy?A) Discount-rate policy , control over stock-buying margin requirements, and moral suasionB) Moral suasion and reserve-requirement changesC) Open-market operations, reserve requirement changes, and discount-rate changesD) Discount-rate policy and reserve-requirement changesE) Reserve-requirement changes and selective controls over consumer and mortgage credit20. In a Malthusian development context, greater real wage ratesA) Are fostered by labor-saving devicesB) Occur with greater populationC) Occur with less landD) Are consistent with less labor per acreE) Are consistent with more labor per acre21. Capital-deepening coupled with steady profit rates and technological progress must result in:A) A higher capital-output ratioB) A lower interest rateC) A higher wage rateD) An increase in labor’s relative share of GDPE) Capital depreciation increases22. Technological change causes:A) A drop in the return on capitalB) A drop in the return on laborC) A reduction in the rate of growthD) A decrease in the rate of capital accumulationE) A rightward shift in the production-possibility frontier23. According to the Solow growth model, capital deepening refers to:A) The process by which the capital-labor ratio increase over timeB) Technological advances in capital equipment over timeC) The decline in economic growth resulting from the displacement of workers by capitalequipmentD) The self-perpetuating cycle of growth between technological advances and capital equipmentE) None of the above24. The backwardness hypothesis suggests that:A) Developing nations can draw upon the capital, skills, and technology of more advancednationsB) Today’s developing economies may be able to grow more rapidly than those in the pastC) Kuznet’s approach to economic growth may be the most accurateD) All the aboveE) A and B only25. Suppose that government spending rises. Assuming that the economy is operating atpotential GDP, the long-run effect of this policy change should be:A) Higher prices with no change in outputB) Higher prices with higher outputC) Higher prices with lower outputD) Lower prices with higher outputE) Lower prices with no change in output26. Okun’s Law suggests that every reduction of 2 percent in GDP below potential GDP can beexpected to be associated with:A) A 1 percent reduction in unemploymentB) A 1 percent increase in inflationC) An increase in unemployment of 1 percentage pointD) A reduction in inflation of 1 percentage pointE) None of the above27. Structural unemployment is defined as:A) Incessant movement of people between regions and jobs or thorough different stages of thelife cycleB) A mismatch between the supply of and the demand for workersC) When the overall demand for labor is lowD) When people are not looking for workE) None of the above28. At the non-accelerating inflationary rate ofunemployment(NAIRU):A) Unemployment is as low as it can possibly getB) The unemployment rate is zero percent, or close to itC) Inflation is stable and has no tendency to changeD) Structural unemployment is zero percentE) All of the above29. If inflation were caused by a supply-side price shock, then:A) Real GDP would necessarily increaseB) It would be costless if the economy were operating at its full potentialC) Real GDP would be expected to fallD) It could be accelerated by a secondary reduction in aggregate demandE) None of the above30. During a period of high inflation:A) Borrowers are better off because they can pay off their loans with currency that is worth lessB) Borrowers are worse off because they have to pay off their loans with currency that is worthmoreC) Lenders are worse off because they cannot find anyone who wants a loanD) Lenders are worse off because they are repaid with currency that is worth moreE) None of the above-------------------------------------------------------------------------------------------------------------------------------B. Calculation (10%)1. Assume that the Federal Reserve buys a $1000 government bond from MS.B, and she depositsthe $1000 in her checking account at Bank 1 and assume that the Bank 1 keeps a reserverequirement of 10 percent and other Banks do the same, no cash reserves ever leaked out of thebanking system. What is the total money creation? What is the money-supply multiplier in thiscase?2. The price index were 100 for 1929 and 75 for 1933, and nominal GDP were $104 billion for1929 and $56 billion for 1933. If with 1933 as a base of 1, please calculate 1929’s price index andthe value of 1929’s real GDP in terms of 1933 prices.C. Short answer questions1. Explain the reasons of the aggregate demand curve slopes downward. (10%)2. What are the differences between the government expenditure multiplier and the taxmultiplier? (10%)D. Essay questions (30%)1. Describe the monetary transmission mechanism and use some figures to illustrate the effectsof a monetary expansion upon economic activity in the money market, the demand forinvestment, and the determination of aggregate demand and GDP. (15%)2. Use some figures to Explain the Phillips Curve from short run to long run. (15%)-------------------------------------------------------------------------------------------------------------------------------l 第二部分1. Which of the following would NOT be included in the aggregate demand of an economy?CA) Vacations purchased by consumers.B) Teachers hired by the school board.C) All are part of aggregate demand.D) Tractors bought by businesses.E) Tanks purchased by the army.2. Macroeconomic policy is generally aimed towards low unemployment and deflation.AA) TrueB) False3. The “double counting” problem occurs when intermediate goods are included in GDP.AA) TrueB) False4. Thomas Malthus was incorrect in his theories because he failed to recognize the fact that thelaw of diminishing returns is a short-run concept.A) TrueB) False5. Real GDP is the total value of goods and services produced by an economy in 1 yearmeasured at current prices.Ba) Trueb) False6. Inflation is not captured by a change in the CPI unless the prices of every component of thedefining market basket increase B.a) Trueb) False7. An important difference between personal income and personal disposable income consist of:Aa) Personal income taxes.b) Personal savings.c) Dividends.d) Consumptive expenditures.e) Investment income.8. In the United States, monetary policy is regulated by:a) The Federal Reserve.b) The Treasury Department.c) Both Congress and the President.d) Congress.e) None of the above.9. Real GDP is calculated by:Ea) Multiply nominal GDP by the GDP deflator.b) Dividing nominal GDP by the GDP deflator.c) Evaluating current output at base year prices.d) None of the above.e) Both B and C.10. National income or product means:Ba) the income of a government over an interval of time.b) all payments received by the people of a country over an interval of time.c) the total amount of money in an economy.d) all the above.11. Government Intervention is necessary to control breakdowns in the market mechanism.a) Trueb) False12. Which of the following is an example of an external variable ?a) The unemployment rate.b) The foreign trade deficit.c) Tariffs on Japanese cars.d) The OPEC-specified price of oil.e) All of the above.13. If there are only two individuals in a community, their MPCs are 1/2 and 5/6, then for anyincrease in community income that is distributed equally between the two individuals:Ca) the community’s MPC is indeterminable from these data.b) the community’s MPC is 3/4.c) the community’s MPC is 2/3.d) the communities MPC is 5/12.e) none of the above.14. If the marginal propensity to consume of a family is 0.9, the family always spends 90 percentof its income.Ba) True.b) False.15. Saving, like investment, depends upon highly uncertain factors.a) True.b) False.16. A straight-line consumption function cutting a 45-degree line from above would mean that:Aa) As income increases, saving increases.b) The MPC is greater than the MPS.c) Consumption increase as income decreases.d) At the break-even point, saving is positive.e) As prices increase, consumption decreases.17. Higher interest rates will necessarily decrease investment spending.Aa) Trueb) False18. Total savings are exactly zero:Da) Where MPC-45 degrees.b) When the MPC equals 0.c) When total consumption equals total saving.d) At the break-even point.e) Where MPS equals MPC.19. The tight monetary policy in the United States from 1979 to 1982 decreased interest rates andincreased aggregate demand.Aa) Trueb) False20. The GDP deflator includes the prices of more goods than either the CPI or the PPI.Aa) Trueb) False21. Those areas around the world with the highest population densities have lower livingstandards.Ba) Trueb) False22. If your MPC is always 0.9, and your break-even point is $10,000, then with $8,000ofdisposable income your consumption will be exactly:EA) indeterminable from the information givenB) $8,200C) $10,000D) $8,000E) $7,200-------------------------------------------------------------------------------------------------------------------------------l 第三部分1.Inflation is measured:Bing the level of the consumer price indexB.As the percentage change in the consumer price indexing the level of real GDPD.As the percentage change in real GDP2 during a recession,A Interest rates decreaseB Households decrease spending on durable goodsC The household sector decreases spending substantiallyD Firms increase the amount of borrowing4 The federal budget deficit can be reduced byA Raising taxesB Raising government spendingC Raising transfer paymentsD Lower interest rates5 Which of the following is NOT one of the key services that are provided by the financialsystem?A Decreasing taxesB Risk sharingC LiquidityD Information6 Potential GDP defined as CA The maximum of GDP that the economy can produceB The amount of GDP produced if there is no frictional unemploymentC The level of GDP attained when all firms are producing at capacityD The amount of GDP produced if there is no structural unemployment9 Which of the following policies is the most direct way to enhance human capital in theeconomyA Increased vaccinations against infectious diseasesB Political reform to decrease corruptionC Stronger laws to protect property rightsD Relaxation of regulations that limit foreign direct investment10 Which of the following is a reason why some low income countries might experienceeconomic growth?A The country has endured extended periods of warB The country fails to enforce a rule of lawC The country suffers from poor health infrastructuresD The country has a high rate of savings investment12.endogenous growth theoryA States that the rate technological change is determined outside the working of the marketsystemB Does not adequately explain the factors that determine productivity.C States that the rate of technological change is caused by economic incentives.D States that the rate of technological change is unaffected by economic incentives.16 Investment spending will increase whenA The interest rate risesB The corporate income tax increasesC Business cash flow increasesD Firms become more pessimistic about earning future profits17 The slope of the consumption function is equal toA The change in consumption divided by the change in disposable incomeB The change in consumption divided by the change in personal incomeC The change in disposable income divided by the change in consumptionD The change in national income divided by the change in consumption18 Increase in the price level willA Lower consumption because goods and services are less affordableB Raise consumption because some goods and services are more affordableC Raise consumption because real wealth increasesD Lower consumption because real wealth decreases20 according to the real business cycle modelA increases in aggregate demand raise gdpB increases in aggregate demand lower gdpC increases in aggregate demand do not affect gdpD increases in aggregate demand lower the price level21 which of the following models relies on emphasizing the importance of sticky wages andpricesA the monetarist modelB the new classical modelC the real business cycle modelD the new keynesian model23 short run macroeconomic equilibrium occurs whenA aggregate demand and short-run aggregate supply intersectB the equilibrium lies on the long run supply curveC structural and frictsonal unemployment equals zeroD a and b24 if technological change occurs in the economyA the long run aggregate supply curve will shift to the rightB the long run aggregate supply curve will shift to the leftC we will move up along the long run aggregate supply curveD we will move down along the long run aggregate supply curve25 money isA an asset that people are willing to accept in exchange for goods and servicesB a liability that people are willing to accept in exchange for goods and servicesC the incone one earns over a period of timeD one’s assets net of one’s liabilities at any point in time26 a barter economy is an economy whereA goods and services are exchanged for moneyB money is exchanged for goods and servicesC goods and servive are exchanged for other goods and servicesD goods and services are exchanged for liabitities27 the problem with barter economies is that it requireA less time and trouble to trade as compared with a money economyB that there be a double coincidence of wantsC a banking system for trade to occurD that there be a single coincidence of wants28 a commodity money isA a good used as money that has no secondary useB a good that is designated as money by lawC a good used as money that also has value independent of its use as moneyD a good used as money that has no intrinsic value29 liquidity is defined asA the ease with which a given asset can be converted to a store of valueB the ease with which a given asset can be converted to a unit of accountC the ease with which a given asset can be converted to a medium of exchangeD the ease with which a given asset can be converted to a standard of deferred payment。