完整word版,Macroeconomics-习题集1

MACROECONOMICSSection ITime—70 minutes60 QuestionsDirections: Each of the questions or incomplete statements below is followed by five suggested answers or completions. Select the one that is best in each case and place the letter of your choice in the corresponding box on the student answer sheet.1. If a certain combination of goods or services liesoutside the production possibilities curve of aneconomy, which of the following is true?(A) Effective trade barriers have reduced foreignimports into the economy.(B) New technology is being used in production.(C) Resources are not available to achieve thatcombination of goods or services.(D) Resources are not being used efficiently toachieve that combination of goods orservices.(E) Resources are being used at a more rapid ratethan they were in the past.2. Which of the following groups would most likelygain from unanticipated inflation?(A) Landlords who own apartments in citieswith rent controls(B) Individuals who have fixed retirementincomes(C) Individuals who earn high incomes(D) Individuals who have borrowed money atfixed interest rates(E) Banks that have loaned all excess reservesat a fixed interest rate3. With a constant money supply, if the demand formoney decreases, the equilibrium interest rate and quantity of money will change in which of thefollowing ways?I nterest Rate QuantityofMoney(A) Increase Decrease(B) I ncrease Not change(C) Decrease Decrease(D) Decrease I ncrease(E) Decrease Not change4. According to the graph above, an increase inaggregate supply will most likely cause incomeand employment to change in which of thefollowing ways?I ncome Employment(A) Decrease Decrease(B) Decrease I ncrease(C) No change I ncrease(D) I ncrease Decrease(E) I ncrease ncrease5. If the exchange rate between the United Statesdollar ($) and the British pound (£) changed from $2 per £1 to $3 per £1, and domestic prices inboth countries stayed the same, then the UnitedStates dollar would(A) depreciate, making United States importsfrom Britain more expensive(B) depreciate, making United States importsfrom Britain cheaper(C) appreciate, making United States importsfrom Britain more expensive(D) appreciate, making United States importsfrom Britain cheaper(E) purchase 3 times more British goods thanbefore the change occurred6. If an economy is operating with significantunemployment, an increase in which of thefollowing will most likely cause employmentto increase and the interest rate to decrease?(A) Purchases of government bonds by thecentral bank(B) Transfer payments(C) Reserve requirements(D) Government expenditures(E) Investment in basic infrastructure7. An increase in which of the following is mostlikely to promote economic growth?(A) Consumption spending(B) Investment tax credits(C) The natural rate of unemployment(D) The trade deficit(E) Real interest rates8. An appropriate fiscal policy to combat a recessionwould be to increase which of the following?(A) I nterest rates(B) The money supply(C) Taxes(D) Government spending(E) The sales of government bonds9. The concept of opportunity cost would no longerbe relevant if(A) poverty in an economy no longer existed(B) the supply of all resources were unlimited(C) resources were allocated efficiently(D) real wages were flexible(E) all current incomes were invested intechnological research10. An appreciation of the United States dollar on theforeign exchange market could be caused by adecrease in which of the following?(A) United States interest rates(B) The United States consumer price index(C) Demand for the dollar by United Statesresidents(D) Exports from the United States(E) The tariff on goods imported into the UnitedStates 11. Which of the following would indicate thateconomic growth has occurred?(A) The production possibilities curve shifts tothe left.(B) The long-run aggregate supply curve shiftsto the right.(C) The aggregate demand curve shifts to theright.(D) The Phillips curve becomes flatter.(E) Business cycles no longer exist.12. Which of the following is most likely to occurif the Federal Reserve engages in open marketoperations to reduce inflation?(A) A decrease in interest rates(B) A decrease in reserves in the banking system(C) A decrease in the government deficit(D) An increase in the money supply(E) An increase in exports13. Which Federal Reserve action can shift theaggregate demand curve to the left?(A) Lowering the federal funds rate(B) Lowering income taxes(C) Lowering reserve requirements(D) Raising the discount rate(E) Raising government spending on nationaldefense14. Crowding out refers to the decrease in(A) national output caused by higher taxes(B) domestic production caused by increasedimports(C) private investment due to increased bor-rowing by the government(D) employment caused by higher inflation(E) exports caused by an appreciating currencyof a country15. If the real interest rate in the United Statesincreases relative to that of the rest of the world, capital should flow(A) into the United States and the dollar willdepreciate(B) into the United States and the dollar willappreciate(C) out of the United States and the dollar willdepreciate(D) out of the United States and the dollar willappreciate(E) out of the United States and the value of thedollar will not change16. Which of the following policy choices representsa combination of fiscal and monetary policiesdesigned to bring the economy out of a recession?(A) Decreasing both taxes and the money supply(B) Increasing both taxes and the money supply(C) Increasing government spending anddecreasing the federal funds rate(D) Increasing both taxes and the discount rate(E) Engaging in deficit spending and governmentbond sales17. Which of the following will be counted asunemployed by the United States Bureau of Labor Statistics?(A) Persons who quit their previous jobs to stayat home to care for sick parents(B) Persons who were laid off from their previousjobs and have not applied for a job in twoyears(C) Persons who were fired from their previousjobs and are actively applying for work(D) Persons who have given up looking for jobsafter long searches(E) Persons who quit their previous jobs to starttheir own businesses18. Which of the following sequences of eventswould occur if the Federal Reserve implementedcontractionary monetary policy?(A) Interest rates increase, investment andconsumption spending decrease, aggregatedemand decreases, and output and pricesdecrease.(B) Interest rates increase, investment andconsumption spending decrease, aggregatedemand increases, and output and pricesdecrease.(C) Interest rates increase, investment andconsumption spending increase, aggregatedemand decreases, and output and pricesdecrease.(D) Interest rates decrease, investment andconsumption spending decrease, aggregatedemand decreases, and output and pricesdecrease.(E) Interest rates decrease, investment andconsumption spending decrease, aggregatedemand decreases, and output and pricesincrease. 19. Suppose that autonomous consumption is $400and that the marginal propensity to consume is0.8. If disposable income increases by $1,200,consumption spending will increase by(A) $1,600(B) $1,360(C) $1,200(D) $ 960(E) $ 40020. In an economy in which all prices, includingwages, are completely flexible, an increase inlabor productivity will result in which of thefollowing changes in output and real wages?Output RealWages(A) I ncrease I ncrease(B) I ncrease Decrease(C) Decrease No change(D) Decrease I ncrease(E) Decrease Decrease21. When the average price level increases by 10 per-cent in a given year, which of the following must increase by 10 percent for real output to remainconstant?(A) Real national income(B) Nominal national income(C) The international value of the currency(D) Real interest rates(E) Nominal interest rates22. Which of the following will occur in a competi-tive market when the price of a good is less than the equilibrium price?(A) Price will decrease to eliminate the surplusand restore equilibrium.(B) Price will decrease to eliminate the shortageand restore equilibrium.(C) Price will increase to eliminate the surplusand restore equilibrium.(D) Price will increase to eliminate the shortageand restore equilibrium.(E) Price will remain constant, because supplywill increase to eliminate the shortage.23. A short-run Phillips curve shows an inverserelationship between(A) interest rates and borrowing(B) inflation and unemployment(C) income and consumption(D) prices and quantity demanded(E) inputs and outputs24. Which of the following can be expected to causean increase in gross domestic product in theshort run?(A) An increase in the tax rate(B) An increase in the interest rate(C) Equal increases in both imports and exports(D) Equal increases in both taxes and governmentexpenditures(E) Equal decreases in both investment andgovernment expenditures25. If the federal government reduces its budgetdeficit when the economy is close to full employ-ment, which of the following will most likelyresult?(A) I nflation will increase.(B) Tax revenues will increase.(C) Interest rates will decrease.(D) Unemployment will decrease.(E) The international value of the dollar willincrease.26. Which of the following will cause the UnitedStates dollar to depreciate relative to the euro?(A) An increase in household income in theUnited States(B) An increase in interest rates in the UnitedStates(C) An increase in household income in Europe(D) A decrease in interest rates in Europe(E) A decrease in price level in the United States27. Stagflation is most likely to be caused by(A) an increase in aggregate demand(B) a decrease in aggregate demand(C) an increase in aggregate supply(D) a decrease in aggregate supply(E) a large increase in the money supply 28. Assume that the nominal interest rate is10 percent. If the expected inflation rate is5 percent, the real interest rate is(A) 0.5%(B) 2%(C) 5%(D) 10%(E) 15%29. Which of the following will lead to an increase inthe United States gross domestic product?(A) More individuals prepare their own personalincome tax forms.(B) Some citizens begin working abroad ascomputer programmers.(C) The government prohibits the sale ofalcoholic beverages.(D) Foreign companies build new assemblyplants in the United States.(E) A million United States households sell theirused cars to their children.30. An advance in technology will cause the(A) aggregate demand curve to shift to the right(B) aggregate demand curve to shift to the left(C) short-run aggregate supply curve to shift tothe left(D) long-run aggregate supply curve to shift tothe left(E) long-run aggregate supply curve to shift tothe right31. Suppose that the Federal Reserve buys$400 billion worth of government securitiesfrom the public. If the required reserve ratio is20 percent, the maximum increase in the moneysupply is(A) $1,600 billion(B) $1,800 billion(C) $2,000 billion(D) $2,200 billion(E) $2,400 billionQuestions 32-34 are based on the diagram below, which shows the production alternatives of two countries, Alpha and Beta, producing two goods, grain and steel, using all of their available resources.32. Before specialization and trade, the domesticopportunity cost of producing 1 ton of grain inAlpha and in Beta is which of the following?Alpha Beta(A) 1 ton of steel 1 ton of steel(B) 1 ton of steel 2 tons of steel(C) 2 tons of steel 1 ton of steel(D) 1 ton of steel 0.5 ton of steel(E) 0.33 ton of steel 1.5 tons of steel 33. The theory of comparative advantage implies thatAlpha would find it advantageous to(A) export grain and import steel(B) export steel and import grain(C) export both grain and steel and importnothing(D) import both grain and steel and exportnothing(E) trade 1 ton of grain for 0.5 ton of steel34. At what real exchange ratio, also referred to as theterms of trade, between grain (G) and steel (S)would both Alpha and Beta find it mutuallyadvantageous to specialize and trade?(A) 1G = 3.0S(B) 1G = 1.5S(C) 1G = 1.0S(D) 1G = 0.5S(E) There is no real exchange ratio that wouldenable both countries to benefit, sinceAlpha has an absolute advantage in bothgoods.35. According to the graph above, which of the following is trueabout the long-run equilibrium of the economy depicted?(A) The economy is in long-run equilibrium.(B) The aggregate demand curve will shift to the left torestore long-run equilibrium.(C) The long-run aggregate supply curve will shift to theright to restore long-run equilibrium.(D) Without a fiscal policy stimulus, the economy willremain in a recession.(E) As wages increase, the short-run aggregate supply curvewill shift to the left to restore long-run equilibrium.36. An increase in personal income taxes will mostlikely cause aggregate demand and aggregatesupply to change in which of the following ways in the short run?AggregateDemand AggregateSupply(A) Not change Decrease(B) Not change I ncrease(C) Decrease Not change(D) Decrease I ncrease(E) I ncrease Not change37. Which type of unemployment would increase ifworkers lost their jobs because of a recession?(A) Cyclical(B) Frictional(C) Seasonal(D) Search(E) Structural38. Which of the following is true about the marginalpropensity to consume?(A) It is the percentage of total income that isspent on consumption.(B) It determines the size of the simple spendingmultiplier.(C) It increases as incomes increase becauseincreases in income cause people to spendmore.(D) It is the same as the money multiplier.(E) It is equal to the average propensity toconsume for people with low incomes. 39. When an economy is operating below the full-employment level of output, an appropriatemonetary policy would be to increase which ofthe following?(A) The discount rate(B) The required reserve ratio(C) The international value of the dollar(D) Open market purchases of government bonds(E) Government expenditure on goods andservices 40. Assume that the economy is at full employment.Policymakers wish to maintain the price level but want to encourage greater investment. Which ofthe following combinations of monetary and fiscal policies would best achieve this goal?MonetaryPolicy FiscalPolicy(A) No change Contractionary(B) Expansionary No change(C) Expansionary Contractionary(D) Expansionary Expansionary(E) Contractionary Expansionary41. In one year, spending on consumption, invest-ment, and government purchases was equalto 103 percent of a country’s gross domesticproduct. This would be possible only if(A) the money supply increased(B) net exports were positive(C) net exports were negative(D) the government ran a budget surplus(E) the government had a balanced budget42. When firms restructure their operations todecrease production costs, the aggregate supplycurve, the price level, and real output will change in which of the following ways?AggregateSupplyCurve PriceLevel Real Output(A) Shift to the left Increase Increase(B) Shift to the left Increase No change(C) Shift to the right Increase Increase(D) Shift to the right Decrease Increase(E) Shift to the right Decrease Decrease43. An economy is in a short-run equilibrium at alevel of output that is less than full-employmentoutput. If there were no fiscal or monetary policy interventions, which of the following changes inoutput and the price level would occur in the long run?Output PriceLevel(A) I ncrease Decrease(B) I ncrease I ncrease(C) Decrease Decrease(D) Decrease I ncrease(E) No change No change44. Assume that the world operates under a flexibleexchange rate system. If the central bank ofMexico increases its money supply but othercountries do not change theirs, Mexico’s inflationrate and the international value of the Mexicanpeso will most likely change in which of thefollowing ways?I nternationalI nflationRate Value of the Peso(A) I ncrease Appreciate(B) I ncrease Depreciate(C) I ncrease No change(D) Decrease Appreciate(E) Decrease Depreciate45. The Federal Reserve decreases the federal fundsrate by(A) decreasing the reserve requirement(B) decreasing the discount rate(C) increasing the discount rate(D) selling government bonds on the open market(E) buying government bonds on the open marketLabor Market Data for Country X(in millions of persons)Population180 Employed94Unemployed6 Not in labor force 8046. Based on the information in the table above, whatis the unemployment rate for Country X?(A) 3.3%(B) 4.0%(C) 6.0%(D) 6.38%(E) 7.5% 47. Suppose that the government decreases taxes andat the same time the central bank decreases thediscount rate. The combined actions will result in(A) an increase in unemployment and a decreasein the interest rate(B) an increase in unemployment and an increasein the interest rate(C) an increase in the real gross domestic productand a decrease in the interest rate(D) an increase in the real gross domestic productand an increase in the interest rate(E) an increase in the real gross domestic productand an indeterminate change in theinterest rate48. In a closed economy with only lump-sumtaxation, if the marginal propensity to con-sume is equal to 0.75, a $70 billion increasein government spending could cause a max-imum increase in output of(A) $52.5 billion(B) $70 billion(C) $122.5 billion(D) $210 billion(E) $280 billion49. Which of the following is NOT a function of fiatmoney?(A) A standard of deferred payment(B) A unit of account(C) A source of intrinsic value(D) A store of value(E) A medium of exchange50. When an economy is at full employment, whichof the following will most likely create demand-pull inflation in the short run?(A) An increase in the discount rate(B) An increase in personal income taxes(C) A decrease in the real rate of interest(D) A decrease in government spending(E) A decrease in the money supply51. Under rational expectations, an announced expan-sion in the money supply will change nominal and real gross domestic products (GDP) in which ofthe following ways?NominalGDP RealGDP(A) I ncrease I ncrease(B) I ncrease Decrease(C) I ncrease No change(D) No change Decrease(E) No change No change52. A decrease in labor productivity will shift the(A) aggregate demand curve to the right(B) aggregate demand curve to the left(C) long-run aggregate supply curve to the right(D) short-run aggregate supply curve to the right(E) short-run aggregate supply curve to the left53. In the long run, if aggregate demand decreases,real gross domestic product (GDP) and the pricelevel will change in which of the following ways?PriceRealGDP Level(A) Decrease Decrease(B) Decrease I ncrease(C) No change Decrease(D) I ncrease Decrease(E) No change ncrease54. Suppose that all banks keep only the minimumreserves required by law and that there are nocurrency drains. The legal reserve requirement is10 percent. If Maggie deposits the $100 bill shereceived as a graduation gift from her grandmother into her checking account, the maximum increasein the total money supply will be(A) $10(B) $100(C) $900(D) $1,000(E) $1,100 55. Assuming fixed exchange rates, if country Z’srate of inflation increases relative to its tradingpartners, Country Z’s imports and exports willmost likely change in which of the followingways?I mports Exports(A) Decrease Decrease(B) Decrease I ncrease(C) I ncrease Decrease(D) I ncrease I ncrease(E) No change No change56. Which of the following household purchases willbe counted as part of gross private investment in a country’s gross domestic product?(A) Government bonds(B) Shares of a company stock(C) Corporate bonds(D) A new car for personal use(E) A newly constructed home57. An increase in aggregate demand will causewhich of the following?(A) A movement along a given short-runPhillips curve(B) The long-run Phillips curve to becomehorizontal(C) The short-run Phillips curve to shift tothe left(D) The long-run Phillips curve to shift tothe right(E) The long-run Phillips curve to shift tothe left58. Which of the following would cause the short-runaggregate supply curve to shift to the right?(A) An increase in the wage rate(B) An increase in the interest rate(C) An increase in the natural rate ofunemployment(D) A decrease in the capital stock(E) A decrease in the expected price level59. A decrease in business taxes would lead to anincrease in national income by increasing whichof the following?(A) The money supply(B) Unemployment(C) Aggregate demand only(D) Aggregate supply only(E) Both aggregate demand and aggregate supply 60. In an open economy, an increase in governmentbudget deficit tends to cause the internationalvalue of a country’s currency and its trade deficit to change in which of the following ways?ValueofCurrency TradeDeficit(A) Appreciate Become smaller(B) Appreciate Become larger(C) Depreciate Become smaller(D) Depreciate Become larger(E) Not change Not changeEND OF SECTION IIF YOU FINISH BEFORE TIME IS CALLED, YOU MAYCHECK YOUR WORK ON THIS SECTION.DO NOT GO ON TO SECTION II UNTIL YOU ARE TOLD TO DO SO.。

Microeconomics课程试卷A一、选择题：（共15小题，每小题2分，共30分）1. A Giffen good:A. has an upward-sloping demand curve.B. has a downward-sloping demand curve.C. has a horizontal demand curve.D. has a vertical demand curve.2. The consumer optimum occurs at:A. any point of intersection between the budget line and an indifference curve.B. a point of tangency between the budget line and an indifference curve.C. the point where the slope of the indifference curve equalsthe ratio of the quantities.D. a point where the budget line cuts the curve from below.3. The slope of the budget constraint line is equal to:A. the ratio of marginal utilities.B. the ratio of money income to the price of the good on the horizontal axis.C. the ratio of money income to the price of the good on the vertical axis.D. the relative price of the two goods—the price of one good compared with the price of the other.4.Assume the demand curve for compact discs slopes downwards,and the supply curve slopes upwards. If the price of CD players decreases, then:A. the equilibrium price of compact discs will fallB. the equilibrium price of compact discs will riseC. the equilibrium price of compact discs will stay the sameD. None of the above are correct5. Implicit costs are:A. the payments made to labour only.B. the payments made by the firm to others.C. the opportunity cost of resources owned by the firm.D. the same as accounting profit.6. When a firm's cost curves exhibit economies of scale:A. the long-run average cost curve is horizontal.B. the long-run average cost curve is downward-sloping.C. the long-run average cost curve is upward-sloping.D. the long-run average cost equals the short-run average costfor all levels of output.7. Economic profits for perfectly competitive firms:A. will continue in the long run for a few efficient firms.B. will shift the industry demand function rightward.C. will attract new firms into the industry in the long run.D. will result in an increase in long-run equilibrium price.8.If the demand for milk increases when the price of pickles increases (ceteris paribus), then milk and pickles are(A) normal goods. (B) inferior goods.(C) substitutes in consumption. (D) complements in consumption.9.The quantity that a firm is willing and able to produce and make available for sale at each possible price (in a series of prices) is represented by the(A) demand curve. (B) supply curve.(C) marginal product curve. (D) production possibilities curve10.If the quantity demanded of bananas increases by 10% when its price decreases by 25%, then the price elasticity of banana demand, Ed, is(A) 0.15. (B) 0.35. (C) 0.4. (D) 1.25.11. The demand for a good will be more elastic the(A). More the good is considered a luxury.(B). More narrowly defined the market (e.g. hamburger versus beef).(C). The longer the time period being considered.(D). All of the above12. A government-imposed maximum price at which a good or service can be sold is called a price(A). Ceiling (B). Floor (C). Equilibrium (D). Support13.If, at a given quantity of labor, MPL is greater than APL, then(A) APL is increasing. (B) APL is decreasing.(C) TPL is at a maximum. (D) APL is at a maximum.14. Which of the following industries is closest to perfect competition?A. steelB. autoC. wheatD. aluminum15. An oligopolistic market(A) has a small number of rival firms, and each is large relative to the market.(B) makes the demand for each firm independent of the actions of its rivals.(C) has low entry barriers facing firms that could otherwise enter themarket.(D) is all of the above.二、判断题：（共10小题，每小题1分，共10分）1. According to the Law of Demand, a decrease in the price of soda increases the demand demanded for soda.2. If beer is an inferior good for a consumer named Fred, then (ceteris paribus) a decrease in Fred's income decreases his demand for beer.3. If coffee and tea are substitutes in consumption, then an increase in the price of tea decreases both the quantity demanded and the supply of coffee.4. If cheese demand is relatively inelastic, then an increase in the supply of cheese will increase the income (total revenue) of cheese producers.5 In the long run all costs can vary.6 If average fixed cost is $50 at an output of 20 units, it would decline to $25 if output were increased to 40 units.7. A perfectly competitive firm faces a downward-sloping, relatively elastic demand curve .8. A perfectly competitive firm's SR supply curve is given by the firm's MC curve for market prices above the minimum of the AVC curve.9. A perfectly competitive industry is in LR equilibrium when every firm produces at its profit maximizing output level.10. Monopolists can control the price.三、名词解释（共5小题，每小题3分，共15分）1.Scarcity 2 Total Revenue 3.Marginal Cost4.Consumer surplus 5 A monopoly四、简述题（共2小题，每题9分，共18分）1. What is Indifference Curve? What are the Properties of Indifference Curve?2 A subsidy is the opposite of a tax. With a $0.50 tax on the buyers of ice-cream cones, the government collects $0.50 for each cone purchased; with a $0.50 subsidy for the buyers of ice-cream cones, the government pays buyers $0.50 for each cone purchased.a. Show the effect of a $0.50 per cone subsidy on the demand curve for ice-cream cones, the effective price paid by consumers, the effective price received by sellers, and the quantity of cones sold.b. Do consumers gain or lose from this policy? Do producers gain or lose? Does the government gain or lose?五、计算题（共3小题，每小题9分，共27分）1. Suppose that business travelers and vacationers have the followingelasticity of demand for (i) business travelers and (ii) vacationers? (Use the midpoint method in your calculations.)b. Why might vacationers have a different elasticity than business travelers?2 Suppose a firm has got such short run cost functioin:TC(Q)=Q3-10Q2+17Q+66.(1) Is the firm’s production in the short run or long run? why?(2) What is TVC(Q)? (3) What is AVC(Q)? (4) What is AFC(Q)? (5) What is MC(Q)?produce to maximize profit?b. Calculate marginal revenue and marginal cost for each quantity. Graph them. (Hint: Put the points between whole numbers. For example, the marginal cost between 2 and 3 should be graphed at 2 1/2.) At what quantity do these curves cross? How does this relate to your answer to part (a)?c. Can you tell whether this firm is in a competitive industry? If so, can you tell whether the industry is in a long-run equilibrium?江西农业大学Microeconomics试卷A答案(本试题要求考生尽量用英文回答；如部分考生由于英语水平有限，有的题目用中文答题，也可酌情给分)一、选择题：（共15小题，每小题2分，共30分）1.A2.B3.D4.B5.C6.B7.C8.C9.B 10.C 11.D 12.A 13.A 14.C 15.A二、判断对错：（共10小题，每小题1分，共10分）1.T2.F3.F4.T5.T6.T7.F8.T9.F 10.T三、名词解释（共5小题，每小题3分，共15分）1.Scarcity: means that society has less resources to offer than people wish to have.2 Total Revenue: The sum of the payments that the firm receives from thesale of its output.3.Marginal Cost: MC is the change in total cost due to the production ofone more unit of output4.Consumer surplus:The difference between what a consumer is willing topay and what she has to pay.5.A monopoly is the sole seller of its product and its product does not have close substitutes.四、简述题（共2小题，每题9分，共18分）1. What is Indifference Curve? What are the Properties of Indifference Curve?An indifference curve depicts bundles of goods that leave the consumer equally well-off. It shows the combinations of goods that give the consumer a constant level of utility.(1)Higher indifference curves are preferred to lower ones. (The further from the origin, the higher the utility)(2)Indifference curves are downward sloping. (Negatively sloped--slope is MRS)(3)Indifference curves do not cross. (Cannot intersect)(4)Indifference curves are bowed inward. (Convex shaped-------diminishing MRS)2 A subsidy is the opposite of a tax. With a $0.50 tax onthe buyers of ice-cream cones, the government collects $0.50 for each cone purchased; with a $0.50 subsidy forthe buyers of ice-cream cones, the government pays buyers $0.50 for each cone purchased.a. Show the effect of a $0.50 per cone subsidy on the demand curve for ice-cream cones, the effective price paid by consumers, the effective price received by sellers, and the quantity of cones sold.b. Do consumers gain or lose from this policy? Do producers gain or lose? Does the government gain or lose?a. The effect of a $0.50 per cone subsidy is to shift the demand curve up by $0.50 at each quantity, since at each quantity a consumer's willingness to pay is $0.50 higher. The effects of such a subsidy are shown in Figure 14. Before the subsidy, the price is P1. After the subsidy, the price received by sellers is PS and the effective price paid by consumers is PD, which equals PS minus 50 cents. Before the subsidy, the quantity of cones sold is Q1; after the subsidy the quantity increases to Q2.b. Because of the subsidy, consumers are better off, since they consume more at a lower price. Producers are also better off, since they sell more at a higher price. The government loses, since it has to pay for the subsidy.五、计算题（共3小题，每小题9分，共27分）1. a. For business travelers, the price elasticity of demand when the price of tickets rises from $200 to $250 is [(2,000 -1,900)/1,950]/[(250 - 200)/225] = 0.05/0.22 = 0.23. For vacationers, the price elasticity of demand when the price of tickets rises from $200 to $250 is [(800 - 600)/700] / [(250 - 200)/225] = 0.29/0.22 = 1.32.b. The price elasticity of demand for vacationers is higher than the elasticity for business travelers because vacationers can choose more easily a different mode of transportation (like driving or taking the train). Business travelers are less likely to do so since time is more important to them and their schedules are less adaptable.2 (1)The firm’s production is in the short run. Because there is fixed cost 66, which doesn't change with the quantity of output.(2)TVC(Q)= Q3-10Q2+17Q (3)AVC(Q)= Q2-10Q+17(4) AFC(Q)= 66/Q (5) MC(Q)=3Q2-20Q+173.Here’a.b. Marginal revenue and marginal cost are graphed in Figure 3. The curves cross atquantity between 5 and 6 units, yielding the same answer as in part (a).c.This industry is competitive since marginal revenue is the same foreach quantity. The industry is not in long-run equilibrium, since profit is positive.。

《宏观经济学》word版绪论第⼀节宏观经济学的研究对象⼀、宏观经济学的定义“宏观”是希腊⽂“Uakpo”的意译，原意是“⼤”。

⼀般认为，宏观经济学（Macroeconomics）⼀词最早是挪威著名经法学家，第⼀届诺贝尔经济学获得者之⼀R·弗瑞希（R Frisch）在1933年提出的。

经济学家们给宏观经济学下了多种⼤同⼩异的定义。

例如，R·多恩布什与S·费希尔说：“宏观经济学是研究整体经济⾏为的——⾼潮与衰退，经济中产品与劳务的总产量和产量的增长，通胀与失业率，国际收⽀以及汇率。

为了研究经济的⼀般状况，宏观经济学集中在影响经济状况的经济⾏为与政策上——消费与投资，⼯资与价格变动的决定因素，货币与财政政策，货币存量，联邦预算，利率、公债。

简⾔之，宏观经济学研究当今的主要经济争论与问题。

”T ·德恩伯格（T ·Dernbwrg）给宏观经济学下的定义是：“‘宏观’⼀词的意思是⼤，⽽宏观经济学的意思是⼤经济学。

宏观经济学研究诸如总产量、总就业与失业，价格的总⽔平与变动率、经济增长率等总体问题。

宏观经济学家所提出的问题涉及到⼴泛的总量——与单个居民户⽀出决策的决定因素相对的所有消费者⽀出的决定；什么是决定了所有⼚商共同的资本⽀出，⽽不是单个⼚商建⽴⼀个新⼚的决定；与某个⼈为什么失业相对，决定经济中总失业⽔平的是什么。

宏观经济学衡量整个经济活动；它分析宏观经济政策所运⽤的这些活动的决定；它预测未来的经济活动；并且⼒图提出旨在使预测与⽣产、就业与价格的⽬标值相⼀致的政策反应。

”总之，宏观经济学是从总体上研究国民经济的⽔平、均衡、稳定、运⾏、增长与调控的⼀门经济学科。

国民经济是⼀个统⼀的有机整体，其内部各系统、各要素之间相互制约、相互影响。

不同的经济学科分别研究其中的⼀个部分、⼀个环节或⼀个⽅⾯，⽽宏观经济学则⾼层建瓴、总揽全局，描绘国民经济的整体图像，并要对达到社会经济最优化提出政策性建议。

宏观经济学［Macroeconomics]以整个国民经济为研究对象，通过研究社会经济中的有关总量的决定及其变化来说明如何从整个社会角度实现资源的充分利用。

（1）研究对象：整个国民经济,把握整个经济的运行方式及规律（2)解决的问题：资源利用（3）中心理论:国民收入决定理论（4）研究方法：总量分析方法，包括个量总和与平均量二大类国内生产总值GDP指经济社会（一个国家或地区)在一定时期内运用生产要素所生产的全部最终产品（物品和劳务）的市场价值的总和.GDP=∑P i Q i最终产品［Final Products]在计算期间生产的但不重复出售以供最终使用的产品。

中间产品[Intermediate Products] 用于再出售以供生产其它产品使用的产品。

避免重复计算[Double-Count］，只计算附加值[Value Added]流量［Flow ]一定时期内发生的变量.一定时期内所生产的最终产品的价值，是流量存量［Stock]一定时点上存在的变量。

名义国内生产总值[Nominal GDP] 以现期（当年）价格或可变价格计算的GDP;变化原因：实际产出、价格水平的变化实际国内生产总值[Real GDP］以不变(基期)价格计算的GDP。

变化反映了实际产出的变化，排除了不同时期价格波动的影响。

GDP折算指数=名义GDP/实际GDP=通货膨胀率(物价水平）＋100%国民生产总值［Gross National Product， GNP]:按国民原则进行统计一国国民(本国拥有的生产要素）在一定时期内所生产的全部最终产品（物品和劳务)的市场价值的总和。

国内生产总值(GDP）：按地域原则进行统计在本国领土内一定时期内所生产的全部最终产品和劳务的市场价值。

①国民经济核算体系（SNA）A system of National Accounts适用于市场经济；价值包括物品、劳务；GDP指标②物质产品平衡体系（MPS）The system of Material Product Balances适用于计划经济，不包括服务性行业价值;核心指标有社会总产值、工农业总产值等仅反映所谓五大物质生产部门，即工业、农业、建筑、运输邮电和商业的经济活动，不包括服务性行业经济活动，因而存在低估经济活动规模。

宏观经济学习题及答案（1）Introduction to MacroeconomicsMultiple Choice Questions1.Macroeconomics is the study of ________ while microeconomics studies ________:a.firm behavior; market behavior/doc/9e6487946.html,rge biological systems; political implications of nanotechnologyc.an individual firm; the overall economic performance of a nationd.the overall economic performance of the world; the economy of a single countrye.the overall economic activity and prices; an individual firm, household, or market2.An endogenous variable is typically:a.Taken as a given.b.Strictly explained by data.c.Strictly explained outside the model.d.Strictly explained inside the model.e.Strictly explained by graphical analysis.3.Which statement is true of an exogenous variable in an economic model?a.It is often a policy variable.b.It is explained inside the model.c.Its value within the model cannot be changed.d.It has no direct relation to the endogenous variables.e.All of the above.4.Macroeconomic models particularly focus on the followingthree economic data series.a.Inflation, unemployment, and business cycles.b.Bankruptcies, the unemployment rate, and depressions.c.Nominal GDP, the employment rate, and budget deficits.d.Endogenous variables, exogenous variables, and parameters.e.None of the above.Introduction to Macroeconomics5.An increase in government spending might be an example of a ________ policy for the purpose of :a.monetary; lowering unemploymentb.monetary; reducing inflationc.monetary; increasing savingd.fiscal; reducing inflatione.fiscal; lowering unemployment6.An increase in interest rates might be an example of a ________ policy for the purpose of:a.monetary; reducing inflationb.monetary; lowering unemploymentc.monetary; increasing the quantity of moneyd.fiscal; reducing inflatione.fiscal; lowering unemployment7.Nonactivists propose doing nothing in the face of economic hardship because:a."Markets self-correct pretty rapidly anyway".b.Activist policies can kick in at the wrong time and be counterproductive.c.In the face of high unemployment, activist policies would likely lead to surges in inflation.d.All of the above.e.None of the above.Introduction to MacroeconomicsDiscussion Questions1.Explain the difference between monetary policy and fiscal policy. What are some of the reasons that thesemacroeconomic policies are used?Fiscal policy refers to a government’s changing its taxes or spending or both.Monetary policy is a central bank’s control of interest rates and the amount of money in an economy.These policies are used for such purposes as influencing an economy’s saving rate, reducing or expanding the size of a government’s budget deficit, influencing the inflation rate and unemployment rate in aneconomy, or limiting business cycle fluctuations and stabilizing economic activity.2.What is stabilization policy? What two important debates occur among macroeconomists regarding its use and who are the parties to these debates?Stabilization policy is the use of fiscal and monetary policies to stabilize economic activity by reducingbusiness cycle fluctuations. One debate concerns how active stabilization policy should be. It pitsnonactivists, macroeconomists who believe that the economy has a self-correcting mechanism that works rapidly to reduce unemployment without the need for stabilization policy, against activistswho think this self-correcting mechanism is too slow and therefore call for the active use of fiscaland monetary policies to reduce unemployment when it is unacceptably high. A second debate arisesbetween macroeconomists who advocate the use of policy rules to specify in advance preciselyhow policymakers must react to changes in unemployment or inflation and those who would allowpolicymakers greater latitude to use their discretionary judgment to formulate the policy response theybelieve is most appropriate in a given situation.3.For each of the following statements, explain which would make a reasonable hypothesis to test. Use theconcepts of normative and positive statements in your answers.a.Increases in the duration of unemployment benefits lead to higher rates of unemployment.b.Immigrations is bad for society.c.Increases in the labor force cause output to rise.d.Welfare payments make workers lazy.e.Higher tax rates increase work effort.Statements (a), (c), and (e) are positive statements that could be tested directly. Statements (b) and (d) arenormative statements that involve value judgments and thus cannot be tested in an objective way.Introduction to Macroeconomics4.If you were studying the following relationships, which variable would be exogenous and which would beendogenous?a.The effect of investment growth on the growth rate of GDP.Investment, exogenous; GDP, endogenous.b.The relationship between the amount of sunshine andplant growth.Sunshine, exogenous; growth, endogenous.c.The relationship between hours of studying and grade point average.Studying, exogenous; GPA, endogenous.。

《宏微观经济学》题库考试练习题注意事项：同学们，你们好！本学期的期末考试即将来临，感谢你们对我在这一学期的教学工作的理解与支持。

现在按照学校关于期末考前练兵的有关要求，结合本课程考试改革的设想，将考试的练习题挂在网上，供大家复习时参考。

提醒大家注意的是网上提供的练习题不是考试的试题，因此大家在复习时还要结合导学书上提供的练习进行，复习过程中，我不提倡只死记练习题答案，要理解练习题所涉及的理论，只有这样才能取得好成绩。

最后祝大家复习顺利，取得好成绩。

一、单项选择题：1．需求曲线是（）。

A: 商品的价格曲线B: 商品的总收益曲线C: 商品边际收益曲线D: 商品的供给曲线答案[A]2．关于均衡价格的正确说法是（）。

A: 均衡价格是需求等于供给时的价格B: 供给量等于需求量时的价格C: 供给曲线与需求曲线交点上的价格D: 供给价格等于需求价格时的价格答案[C]3．A: 是整条的边际成本曲线B: 是B点之上的边际成本曲线C: 是A点之上的边际成本曲线D: 是价格曲线P o答案[C]4．如果消费者消费15个面包获得的总效用是100个效用单位，消费16个面包获得的总效用是106个效用单位。

则第16个面包的边际效用是（）效用单位。

A: 108个B: 100个C: 106个D: 6个答案[D]5．消费者剩余是指消费者从商品的消费中得到的（）。

A: 满足程度B: 边际效用C: 满足程度超过他实际支出的价格部分D: 满足程度小于他实际支出的价格部分答案[C]6．生产者剩余是指生产者的所得（）。

A: 小于边际成本部分B: 等于边际成本部分C: 超过边际成本部分D: 超过平均成本部分答案[C]7．收入消费曲线与恩格尔曲线（）。

A: 所表达的经济意义相同B: 所表达经济意义不相同C: 是同一条曲线D: 是两条没有任何关系的曲线答案[B]8．当X商品的价格下降时，替代效应X1X*=+5，收入效应X*X2=+3，则商品是（）。

MACROECONOMICS PRACTICE TEST QUESTIONS FOR CHAPTERS 6 and 7Chapter 06Wages and Unemployment Multiple Choice Questions1. In the twentieth century, average real wages have risen substantially:A. only in the United States.B. in industrial countries excluding the United States.C. in industrial countries including the United States.D. in neither the United States nor other industrial countries.2. In the United Sates, the average annual rate of growth of real wages was fastest in the period:A. 1960-1973.B. 1960-1996.C. 1960-2001.D. 1973-1996.3. The growth rate of average annual earnings in the United States from 1973 to 1996 was:A. higher than it was from 1960 to 1973.B. lower than it was from 1960 to 1973.C. the same as it was from 1960 to 1973.D. roughly equal to zero.4. Following the 1960 and 1973 period, average real earnings of workers grew more ______ from 1973 to 1996 and then ______ from 1996 to 2004.A. slowly; grew more rapidlyB. slowly; slowed even moreC. slowly; grew at about the same rateD. rapidly; slowed5. In the United States the real wages of the least-skilled, least-educated workers have ______ and the wages of best-educated, highest-skilled workers have ______.A. increased; increasedB. declined; increasedC. increased; declinedD. declined; remained constant6. In the United States between 1980 and 2007, employment:A. was constant, while the over-sixteen population increased.B. decreased, while the over-sixteen population increased.C. grew more rapidly than the over-sixteen population.D. grew at approximately the same rate as the over-sixteen population.7. In the last two decades of the twentieth century, the number of people with jobs in the United States:A. declined more rapidly than the over-sixteen population.B. declined more slowly than the over-sixteen population.C. remained approximately constant.D. grew more rapidly than the over-sixteen population.8. One trend in labor markets is:A. a decrease in average real wages in the United States and other industrial countries.B. decreasing wage inequality in the United States.C. weak rates of job creation in the United States since 1980.D. a slowdown in real wage growth in the United States since 1973.9. One trend in labor markets is:A. a decrease in average real wages in the United States and other industrial countries.B. decreasing wage inequality in the United States.C. weak rates of job creation in the United States since 1980.D. a slowdown in the rate of real wage growth since the early 1970s.10. All of the following describe trends in labor markets EXCEPT:A. growing wage equality in the United States in recent decades.B. a slowdown in real wage growth since the 1970s.C. substantial growth in the level of employment in the United States.D. over-sixteen population growth rates that fall short of the growth rate of new jobs in the United States.11. All of the following describe trends in labor markets EXCEPT:A. growing wage inequality in the United States in recent decades.B. a slowdown in real wage growth since the 1970s.C. substantial growth in the level of employment in the United States.D. over-sixteen population growth rates that exceed the growth rate of new jobs in the United States.12. In the market for labor, the price of labor is the:A. same as price of the product produced by the labor.B. real wage.C. marginal product of labor.D. number of hours employed per year.13. The demand for labor depends on ______ and _______.A. the supply of labor; the marginal product of laborB. the supply of labor; the price of output producedC. the rate of price inflation; the price of the output producedD. the marginal product of labor; the price of output produced14. The marginal product of labor is the additional:A. wage paid for an additional hour of work.B. wage paid for an additional worker employed.C. labor employed to produce one more unit of output.D. output produced by one more worker.15. According to the principle of diminishing returns to labor, if the amount of capital and other inputs are held constant, employing additional workers:A. increases output at an increasing rate.B. increases output at a constant rate.C. increases output at a decreasing rate.D. decreases output at an increasing rate.16. The value of the marginal product of labor equals the marginal product of labor times the:A. real wage.B. nominal wage.C. price of output.D. quantity of labor.The following table provides information about production at the XYZ-TV Company.17. How many workers will the XYZ-TV Company hire if the going wage for TV production workers is $32,000?A. 0B. 1C. 2D. 318. How many workers will the XYZ-TV Company hire if the going wage for TV production workers is $30,000?A. 0B. 1C. 2D. 319. How many workers will the XYZ-TV Company hire if the going wage for TV production workers is $28,000?A. 1B. 2C. 3D. 420. How many workers will the XYZ-TV Company hire if the going wage for TV production workers is $60,000?A. 0B. 4C. 5D. More than 5High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour.21. For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $70?A. 1B. 2C. 3D. 422. For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $30?A. 1B. 2C. 3D. 423. For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $120?A. 0B. 3C. 5D. More than 524. Firms will hire additional workers as long as the wage:A. is less than the marginal product of labor.B. equals the marginal product of labor.C. is greater than the marginal product of labor.D. is less than the value of the marginal product of labor.25. An increase in the price of the output produced by labor will:A. increase the supply of labor.B. decrease the supply of labor.C. increase the demand for labor.D. decrease the demand for labor.26. The introduction of a new technology that increases the productivity of labor will:A. increase the supply of labor.B. decrease the supply of labor.C. increase the demand for labor.D. decrease the demand for labor.27. If the price of TVs produced by the XYZ-TV Company falls from $1,000 to $750 per TV set, then the:A. supply of labor to the XYZ-TV Company increases.B. supply of labor to the XYZ-TV Company decreases.C. demand for labor by the XYZ-TV Company increases.D. demand for labor by the XYZ-TV Company decreases.28. The demand for labor increases when the:A. real wage increases.B. real wage decreases.C. value of the marginal product of labor increases.D. value of the marginal product of labor decreases.29. If the price of tables sold by All-Oak Table Co. increases from $400 to $300, then the:A. supply of labor to All-Oak Table Co. increases.B. supply of labor to All-Oak Table Co. decreases.C. demand for labor by All-Oak Table Co. decreases.D. demand for labor by All-Oak Table Co. increases.30. Production data for Joe's Pizza Parlor are as follows. For simplicity assume that labor is the only input. Each pizza sells for $5.How many workers will Joe hire if he must pay each one $35 a day?A. 1B. 2C. 3D. 431. Production data for Joe's Pizza Parlor are as follows. For simplicity assume that labor is the only input. Each pizza sells for $5.How many workers will Joe hire if he must pay each one $45 a day?A. 1B. 2C. 3D. 432. The minimum payment you are willing to accept to do a job is your:A. nominal wage.B. real wage.C. reservation price.D. value of marginal product.33. An increase in the size of the working-age population:A. increases labor demand.B. decreases labor demand.C. increases labor supply.D. decreases labor supply.34. As the real wage decreases, the quantity of labor demanded ______ and the quantity of labor supplied _______.A. increases; increasesB. increases; decreasesC. decreases; decreasesD. decreases; increases35. Holding other factors constant, if food prices decline relative to the prices of other products, then the real wages of agricultural workers will ______ and employment of agricultural workers will _____.A. increase; increaseB. increase; decreaseC. decrease; not changeD. decrease; decrease36. Holding other factors constant, if computers allow factory workers to manufacture more products per hour, then the real wages of factory workers will ______ and employment of factory workers will _____.A. increase; increaseB. increase; decreaseC. decrease; not changeD. decrease; increase37. Holding other factors constant, if a larger proportion of the population enters the labor force as a result of a growing social acceptance of women working, then the real wages of workers will ______ and employment of workers will _____.A. increase; increaseB. increase; decreaseC. decrease; not changeD. decrease; increase38. Holding other factors constant, if oil prices rise relative to the prices of other products, then the real wages of oil workers will ______ and employment of oil workers will _____.A. increase; increaseB. increase; decreaseC. decrease; not changeD. decrease; increase39. Holding other factors constant, if the education and skills of the typical worker in an economy increases, then the real wages of workers will ______ and employment of workers will _____.A. increase; increaseB. increase; decreaseC. decrease; not changeD. decrease; increase40. If the existence of alternative opportunities makes people become less willing to work in poultry processing plants, then the real wage of unskilled workers in poultry processing plants is predicted to______ and the employment of unskilled workers in poultry processing plants is predicted to ______.A. increase; increaseB. increase; decreaseC. increase; not changeD. decrease; decrease41. Real wages increased in industrialized countries in the twentieth century because the demand for labor:A. increased more rapidly than the supply of labor increased.B. increased more slowly than the supply of labor increased.C. increased, while the supply of labor decreased.D. decreased, while the supply of labor increased.42. Holding other factors constant, technological progress ______ the real wage and ______ employment.A. increases; increasesB. increases; decreasesC. increases; does not changeD. decreases; increases43. The two most important factors contributing to increased productivity in industrialized countries in the twentieth century were:A. higher relative prices and a larger labor supply.B. higher relative prices and technological progress.C. technological progress and increases in the capital stock.D. technological price and increases in the labor supply.44. Long-term increases in productivity that have increased the demand for labor and the real wages of labor have resulted primarily from ______ and _____.A. technological progress; a modernized capital stockB. technological progress; an increased labor supplyC. a modernized capital stock; skill-biased technological changeD. a modernized capital stock; an increased labor supply45. Larger increases in the demand for labor than in the supply of labor explain:A. the substantial increase in real wages.B. the slowdown in real wage growth.C. increasing wage inequality.D. skill-biased technological change.46. Slower growth in labor demand in combination with increases in labor supply explains____________ accompanied by __________.A. a slowdown in real wage growth; a decline in employmentB. a slowdown in real wage growth; rapid employment growthC. a slowdown in real wage growth; increasing wage inequalityD. accelerated real wage growth; a decline in employment47. Holding other factors constant, an increase in the capital stock ______ the real wage and ______ employment.A. increases; increasesB. increases; decreasesC. increases; does not changeD. decreases; increases48. A war destroys much of the capital stock in the country of Omega. As a result, holding other factors constant, the real wage in Omega will ______ and employment in Omega will ______.A. increase; increaseB. increase; decreaseC. increase; not changeD. decrease; decrease49. As a result of a war in the country of Omega, refugees flee to the country of Alpha to seek employment. Holding other factors constant, the influx of refugees will ______ the real wage in Alpha and ______ employment in Alpha.A. increase; increaseB. increase; decreaseC. decrease; decreaseD. decrease; increase50. Factors increasing the labor supply and thereby contributing to the slowdown in real-wage growth that began in the 1970s include ______ and _____.A. skill-biased technological change; globalizationB. increased labor force participation by women; the coming-of-age of the baby-boom generationC. technological progress; diminishing returns to laborD. increasing wage inequality; globalization51. The slowdown in the growth of real wages in the United States since 1973 is consistent with a concurrent:A. slowdown in productivity gains.B. slowdown in the growth of the working-age population.C. slowdown in immigration into the country.D. speedup in the rate of inflation.52. Slower real wage growth since the 1970s accompanied by rapid job growth can be explained by:A. skill-biased technological change.B. globalization.C. a productivity slowdown accompanied by an increase in the labor supply.D. a productivity slowdown accompanied by a decrease in the labor supply.53. In recent decades, slower growth in the demand for labor accompanied by an accelerated growth in the supply of labor in the U.S. explains:A. slower real wage growth and double-digit rates of unemployment.B. slower real wage growth and increasing wage inequality.C. slower real wage growth and an increase in the number of people with jobs.D. increasing wage inequality and double-digit rates unemployment.54. Two explanations for increasing wage inequality are ______ and ________.A. technological progress; a modernized capital stockB. increased labor supply; a slowdown in productivity growthC. increased worker mobility; transition aidD. globalization; skill-biased technological change55. Initially, workers in the shoe industry and the computer industry earn the same wage. Reductions in trade barriers give domestic consumers access to cheaper shoes produced abroad, so domestic shoe prices fall. At the same time, foreign consumers purchase more computers, raising the relative price of computers. As a result of these changes, the demand for labor in the shoe industry ______ and the demand for labor in the computer industry ______.A. increases; increasesB. increases; decreasesC. decreases; increasesD. decreases; decreases56. Initially, workers in the shoe industry and the computer industry earn the same wage. Reductions in trade barriers give domestic consumers access to cheaper shoes produced abroad, so domestic shoe prices fall. At the same time, foreign consumers purchase more computers, raising the relative price of computers. As a result of these changes, wages in the shoe industry ______ and wages in the computer industry ______.A. increase; increaseB. increase; decreaseC. decrease; increaseD. decrease; decrease57. Macroland produces dishes and glassware. Before trade, a set of dishes sells for $100 and a set of glasses sells for $50. When Macroland opens to trade, foreign demand for domestically produced china is strong, raising the price of a set of dishes to $125. But foreign competition reduces the demand for domestically produced glasses, so that they now sell for $25 a set. Assuming workers cannot move between industries, the wages of workers producing dishes will ______ and the wages of workers producing glasses will ____.A. increase; increaseB. increase; not changeC. increase; decreaseD. decrease; increase58. Globalization ______ the wages of workers in the exporting industries and ______ the wages of workers in the import-competing industries.A. raises; raisesB. raises; lowersC. raises; does not changeD. lowers; raises59. Increasing wage inequality results when international trade leads to ______ wages for workers in exporting industries and ______ wages for workers in importing industries.A. higher; higherB. higher; lowerC. lower; no change inD. lower; higher60. An increase in the demand for workers producing computers for export versus producing agricultural products that can be imported more cheaply from abroad is an example of how increasing wage inequality can result from:A. the diminishing marginal product of labor.B. the diminishing marginal product of capital.C. increasing reservation prices.D. globalization.61. Globalization can increase wage inequality in the United States if international competition is primarily in industries requiring ______ workers.A. manyB. fewC. highly-skilledD. low-skilled62. The increase in wage inequality resulting from globalization can be reversed through:A. revoking the principle of comparative advantage.B. increases in worker mobility.C. decreases in worker mobility.D. making markets more competitive.63. Technological change that affects the marginal products of high-skilled and low-skilled workers differently is called ______ technological change.A. capital-laborB. skill-biasedC. marginal-productivityD. high-low64. Skill-biased technological change increases wage inequality by altering the ______ high-skilled workers relative to low-skilled workers.A. reservation price ofB. mobility ofC. supply ofD. demand for65. The introduction of word processing software that increases the demand for workers with computer skills relative to those without such skills is an example of:A. increasing reservation prices.B. skill-biased technological change.C. the diminishing marginal product of labor.D. globalization.66. Most economists generally argue ______ trying to block technological advances because these technological advances ______.A. in favor of; cause the economy to grow rapidlyB. in favor of; increase wage inequalityC. against; are necessary for improved standards of livingD. against; promote wage equality67. A Luddite is:A. someone who opposes the introduction of new technologies.B. a worker whose real wage rises as a result of globalization.C. a fictional character from American folk history.D. a consumer who refuses to buy imported goods, even if they are cheaper.68. If the Luddites had succeeded in ______ the introduction of labor-saving machinery, economic growth in Great Britain may have been ______.A. blocking; slowerB. blocking; more rapidC. promoting; slowerD. promoting; more rapid69. Skill-biased technological has different effects on the marginal products of ______ workers and ______ workers.A. male; femaleB. union; nonunionC. government; private-sectorD. highly-trained; low-skilled70. Globalization and skill-biased technological change have contributed to:A. the long-term growth in real wages.B. the slowdown in productivity since 1973.C. increasing wage inequality.D. high rates of employment in Western Europe.71. From an economic perspective, the best response to increased wage inequality is to:A. block future technological change.B. stop all international trade.C. provide transition aid to disadvantaged workers.D. make skill-biased technological change illegal.72. Each person who is 16 years or older is considered to be in one of the following categories:A. employed, unemployed, or discouraged worker.B. part-time worker, full-time worker, or unemployed.C. part-time worker, full-time worker, or out of the labor force.D. employed, unemployed, or out of the labor force.73. A person 16 years or older who does not work, but is actively looking for work, is officially classified as:A. employed.B. unemployed.C. chronically unemployed.D. out of the labor force.74. Who from among the following would be counted as unemployed?A. A person with a part-time job who wants and is looking for a full-time job.B. All of these people would be counted as unemployed.C. A person who is willing to work and has looked for a job in the last week.D. A person who is willing to work but has not looked for a job in two months.75. Who from among the following would be classified as out of the labor force?A. A person with a part-time job who wants and is looking for a full-time job.B. None of these people would be classified as out of the labor force.C. A person who is willing to work and has looked for a job in the last week.D. A person who is willing to work but has not looked for a job in two months.76. Which of the following events would increase the unemployment rate, if nothing else changed?A. Unemployed workers leave the labor force.B. Employed workers leave the labor force.C. Workers from outside the labor force become employed.D. Unemployed workers become employed.77. Based on the information in the table, what is the unemployment rate?A. 7.2%B. 8.0%C. 10.0%D. 28.0%78. Based on the information in the table, how big is the labor force?A. 576,000B. 720,000C. 800,000D. 1,000,00079. Based on the information in the table, how many people are out of the labor force?A. 144,000B. 200,000C. 280,000D. 576,00080. Who from among the following would be classified as employed?A. Brenda Smith, an 18 year old full-time college student.B. Mario Faubert, a NHL hockey player at home sick with the flu.C. Jack Little, a 21 year old new college graduate actively looking for his first job.D. Sarah Lopez, a retired public school teacher.81. Who from among the following would be classified as out of the labor force?A. Brenda Smith, an 18 year old college student employed part time at a fast food restaurant.B. Mario Faubert, a NHL hockey player at home sick with the flu.C. Jack Little, a 21 year old new college graduate actively looking for his first job.D. Amanda Pie, a full-time homemaker.82. The labor force equals the number of people:A. employed.B. aged 16 years and older.C. both employed and unemployed.D. employed, unemployed and discouraged.83. The unemployment rate equals the number of people:A. unemployed.B. unemployed divided by the number employed.C. unemployed divided by the labor force.D. unemployed plus discouraged workers divided by the labor force.84. The participation rate is the number of people:A. employed divided by the labor force.B. employed divided by the population aged 16 years and older.C. employed and unemployed divided by the labor force.D. employed and unemployed divided by the population aged 16 years and older.85. In a country with 200 million people aged 16 years and older, 120 million in the labor force, and 114 million employed, what is the participation rate?A. 40 percentB. 57 percentC. 60 percentD. 95 percent86. In a small town of 100 people, there are 10 children under 16, 10 retired people, 60 people with full-time jobs, 3 people with part-time jobs, 3 full-time students over 16, and 4 full-time homemakers. The remaining people did not have jobs, but wanted jobs. All but one of these had actively looked for a job in the previous four weeks. What is the unemployment rate in this town?A. 10.0%B. 11.0%C. 12.5 %D. 14.3%87. In a small town of 100 people, there are 10 children under 16, 10 retired people, 60 people with full-time jobs, 3 people with part-time jobs, 3 full-time students over 16, and 4 full-time homemakers. The remaining people did not have jobs, but wanted them. All but one of these had actively looked for a job in the previous four weeks. What is the participation rate in this town?A. 63.0%B. 72.0%C. 80.0%D. 87.5%88. The number of unemployed divided by the labor force equals the:A. labor-force participation rate.B. employment rate.C. unemployment rate.D. duration rate.89. The labor force divided by the working-age population equals the:A. unemployment rate.B. employment rate.C. participation rate.D. population rate.90. Data for an economy shows that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the working-age population in this economy?A. 333 millionB. 500 millionC. 800 millionD. 1.20 billion91. Data for an economy shows that the unemployment rate is 6%, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are unemployed in this economy?A. 12.0 millionB. 18.0 millionC. 28.8 millionD. 43.2 million92. Data for an economy shows that the unemployment rate is 6%, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are employed in this economy?A. 30 millionB. 188 millionC. 282 millionD. 300 million93. Data for an economy shows that the unemployment rate is 10%, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the labor force in this economy?A. 80 millionB. 200 millionC. 800 millionD. 1.0 billion94. Data for an economy shows that the unemployment rate is 10%, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the working-age population in this economy?A. 250 millionB. 800 millionC. 1.0 billionD. 1.6 billion95. Income lost by the unemployed is an example of the ______ cost of unemployment, while the additional spending to control crime is an example of the ______ cost of unemployment.A. social; psychologicalB. economic; socialC. economic; psychologicalD. psychological; economic96. Depression and lost self esteem are examples of the ______ costs of unemployment, while the lost income and tax revenue are examples of the ______ costs of unemployment.A. social; psychologicalB. economic; socialC. economic; psychologicalD. psychological; economic97. An unemployment spell is a period during which:A. the unemployment rate is less than 10 percent.B. the unemployment rate exceeds 15 percent.C. an unemployed individual leaves the labor force and then returns.D. an individual is continuously unemployed.98. Leaving the labor force or finding a job are two ways that:A. a person can become a discouraged worker.B. a person can become an involuntary part-time worker.C. an unemployment spell can begin.D. an unemployment spell can end.。

2003－2004学年第二学期中级宏观经济学（Macroeconomics）考试试题答案(经济试验班021、022)Ⅰ.Choose the best answers (2＇×10)1.B2.A3.C4.B5.C6.A7.B8.C9.C 10.DⅡ. Explain the following terms. (20 points)1．Endogenous variables: 经济模型中要解释的变量。

Exogenous variables：模型给出作为既定的变量。

2. Menu costs：企业因通货膨胀改变价格的成本。

shoe-leather costs：为减少持有货币的损失而发生的成本。

3. GDP deflator ：名义GDP/实际GDP，是相对于基年商品和劳务价格的那一年的商品和劳务价格。

CPI：即消费价格指数，是相对于某个基年一篮子物品与劳务价格的同样一篮子物品与劳务的现期价格。

4. Adaptive expectation ：人们根据过去的经验或数据来预测未来。

rational expectation：人们尽可能地利用所有可以获得地信息，包括关于现在政府政策地信息预测未来。

5. Real exchange rate ：两国物品的相对价格。

nominal exchange rate：两国通货的相对价格。

Ⅲ.Answer the following questions by drawing or calculating. (10’ ×4) 1．We want to consider the effects of a tax cut when the LM* curve depends on disposable income instead of income: M/P = L[r, Y –T].A tax cut now shifts both the IS* and the LM* curves. Figure 12–22 shows the case of floating exchange rates. The IS* curve shifts to the right, from IS to IS . The LM* curve shifts to the left, however, from LM to LM .We know that real balances M/P are fixed in the short run, while the interest rate is fixed at the level of the world interest rate r*. Disposable income is the only variable that can adjust to bring the money market into equilibrium: hence, the LM* equation determines the level of disposable income. If taxes T fall, then income Y must also fall to keep disposable income fixed. In Figure 12–22, we move from an original equilibrium at point A to a new equilibrium at point B. Income falls by the amount of the tax cut, and the exchange rate appreciates. If there are fixed exchange rates, theIS* curve still shifts to the right; but the initial shift in the LM* curve no longer matters. That is, the upward pressure on the exchange rate causes the central bank to sell dollars and buy foreign exchange; this increases the money supply and shifts the LM* curve to the right, as shown in Figure 12–23. The new equilibrium, at point B, is at the intersection of the new IS* curve, IS , and the horizontal line at the level of the fixed exchange rate. There is no difference between this case and the standard case where money demand depends on income.2. a.将生产函数两边同时除以效率工人，则有：()4.04.06.04.0k L E K L E L E K L E Y y =⎪⎭⎫ ⎝⎛⨯=⨯⨯=⨯=b ．s=0.25 δ=5% n=2% g=3%; 带入经济稳定的条件：38.15.275.0)1(*84.15.2*6.45.2*1.025.0)()(3/23/24.03/54.0≈⨯=-=≈==≈==⋅++=⋅y s c k y k kk kg n k f s δc.当g 变为5%时，有： 63.11225*4.31225*12.025.0)()(3/24.03/54.0≈⎪⎭⎫ ⎝⎛==≈⎪⎭⎫ ⎝⎛==⋅++=⋅k y k kk kg n k f s δ 这种变化导致了效率工人的人均资本量减少，效率工人的人均产量下降；但总产出会增加。

微生物题库及答案中文版2004-2005秋季学期说明：1．以网上流传的“微生物答案1[1][1].2版”为基本框架，题目和顺序均来自该版。

2．答案主要参考材料为科学出版社的中译版《微生物生物学》和老师的讲义。

3．绝大多数答案为中文，个别用中文难以表达或繁琐的部分保留了英文叙述。

4．由于现有图片都不甚清晰，涉及图片的部分均未加入，建议打印后徒手绘之。

（文档中相应部分均留有空间）。

1. Introduction to Microbiology1．what is Microbiology?研究微生物的科学，微生物是一大群种类各异的微小生物体，他们以单细胞或细胞群体存在，包括病毒。

2．what are Microorganisms?微生物是一大群种类各异的微小生物体，他们以单细胞或细胞群体存在，也包括病毒。

例如：细菌，古细菌，藻类，真菌，原生动物等。

3．4．粘菌。

5．a)且往往是的DNAb)c)d)e)f)谢以及复制功能。

6．a)b)7．a)Small volume, large surface areab)Fast absorption and conversionc)Rapid duplication and growthd)Strong adaptabilitye)8．Populations, communities and ecosystems?裂。

9．Brief history of microbiology?f)1684 Antonie van Leeuwenhoek (discovery of bacteria) 列文虎克发现细菌g)1857-1864 Louis Pasteur (lactic acid fermentation, yeast alcohol fermentation,spontaneous generation theory) 巴斯德和自然发生说的破灭（发现乳酸发酵和酒精发酵）h)1881-1884 Robert Koch (pure culture, cause of tuberculosis, Koch’spostulates, cause of (霍乱) cholera）科赫的疾病细菌说，纯培养；Koch假设，结核和霍乱病茵的发现。

JIANGXI UNIVERSITY OF FINANCE AND ECONOMICSSchool of International StudiesMacroeconomic Theory(Final Exam A, Two hours)AnswersProf.X. Wang, M. Zhang ,P.Lu,L. Xiao and J.Li JUNE 2008 A Attention: Please use the separate paper and booklet provided to answer the following questions and identify the numbers of the question you are doing.Part One: Definitions (3 pts each, 15pts in total)1. The real wage rate is the quantity of goods and services that can be purchased with an hour’s work.2. A fixed-rule policy specifies an action to be pursued independently of the state of the economy.3. Net investment is the change in the stock of capital and equals gross investment minus depreciation.4. Full employment occurs when there is no cyclical unemployment or, equivalently, when all unemployment is frictional or structural.5. Real GDP is the value of the total production of all the nation’s farms, factories, shops, and offices, measured in the prices of a single year.Part Tow: Multiplier Choice ( please choose one of the best answers among the choices given in each question and then blacken it on your answer sheet. 2 points each, 50 points in total)1--5. D C B C D6—10 B D C D C11—15 D B C C D16—20 D B A D B21—25 C D B A CPart Three: Short Questions ( 4 questions, 20 pts in total)You are encouraged to answer these questions by drawing figures1.What role do investment and capital play in leading to a business cycle? (5’ pts) Answer:Investment and capital play a central role. Recessions begin when investment in new capital slows and expansions begin when investment increases. During the expansion investment increasesthe size of the capital stock. As capital per hour of labor increases eventually diminishing returns set in. As this occurs, profitability of future investment falls, which leads to a decrease in investment.As investment decreases a recession begins. Slow capital growth during the recession then causes capital per hour of labor to fall. Thissituation then makes for more profitable investment opportunities and investment increases. An expansion now begins as investment increases.e the aggregate supply and aggregate demand framework to discuss the differences between fixed-rule and feedback-rule policy solutions to a decrease in aggregate demand.(5’ pts)Answer:A fixed rule policy holds the growth rate of the quantity of money constant when aggregate demand changes. A decrease in aggregate demand produces a short-run equilibrium with lower real GDP and a lower price level. In the long run, if aggregate demand does not increase, the money wage rate falls and short-run aggregate supply increases. This change brings the economy back to a full employment equilibrium.A feedback rule policy increases the growth rate of the quantity of money when aggregate demand decreases. The decrease in aggregate demand might produce a short-run equilibrium with a lower real GDP and a lower price level. But the expansionary monetary policy stimulates aggregate demand to bring the economy back to a full employment equilibrium.3 If the government raises taxes on labor income and interest income, explain how potential GDP and economic growth are affected.(5’ pts)Answer:Tax increases on labor income decrease the supply of labor and so decrease equilibrium employment, which decreases potential GDP.Tax increases on the income from capital decrease saving and so decrease the supply of capital, which decreases equilibrium investment and capital andso decreases economic growth.4. Of the three economic growth theories, which is the most optimistic about the chances of real GDP per person growing indefinitely? Which is the most pessimistic? What accounts for the differences? (5’ pts)Answer:The most optimistic is the new growth theory, which concludes that real GDP per person can continue to grow indefinitely.The most pessimistic is the classical theory, which concludes that growth in real GDP per person will stop and that people will produce only the subsistence levelof real GDP per person.The difference in the two conclusions can be traced to differences in assumptions in three key areas.First, the new growth theory concludes that technology will advance forever because people, seeking profit, make decisions to develop new technology. Classical growth theory assumes that technological advances are rare and infrequent.Second, the new growth theory assumes that the economy is not subject to diminishing returns. Hence, as the economy accumulates more capital, the returns to capital do not diminish and so the incentive to add yet more capital continues undiminished. The classical growth theory assumes that capital (and labor) is subject to diminishing returns. Thus as more capital is accumulated, the returns diminish and so the incentive to continue adding more capital disappears. Thus the capital stock eventually stops growing.Finally, the new growth theory assumes that the population does not grow more rapidly as real GDP per person increases. The classical theory assumes that whenever real GDP per person exceeds the subsistence level, rapid population growth occurs and, because of diminishing returns to labor, the increased population drives the level of real GDP back to the subsistence amount.Part Four : Essay Questions ( 1 question, 15 pts in total)Y ou are encouraged to answer these questions by drawing figuresCompare and contrast the Keynesian and Monetarist theories explaining the business cycle.Answer:Both theories are centered about changes in investment as the central cause of the business cycle. Keynesian’s use the concept of ‘animal spirits’and the inability to forecast the future as the impulse for causing changes in investment. Monetarists assert that changes in the growth rate of the quantity of money are impulse that leads to business cycles. According to monetarists, changes in the interest rate are the result of changes in the growth rate of the quantity of money and the interest rate changes lead to changes in investment. As for the adjustment following the initial shock of a change in the level of investment, both theories envision a multiplier effect. This effect causes a greater change in aggregate demand (and hence real GDP) than would occur strictly as a result of the initial change in real GDP. Both theories also believe that sticky wages limit the ability of the money wage rate to adjust to changes in aggregate demand. Keynesians believe in longer term stickinesswhile monetarists believe in only temporary stickiness. This difference means that Keynesians believe that the economy can be stuck below fullemployment indefinitely, while monetarists believe any divergence from potential GDP is shorter lived.。

习题集一Question 1In Australia ,using 2000-01 as the base year, we would find that:a)Nominal GDP is always larger than real GDP.b)Real GDP is always larger than nominal GDP for the period 1960 to 2000.c)Real GDP is larger than nominal GDP from 1998 to 2002.d)Real GDP is smaller than nominal GDP from 1988 to 1995.e)Real GDP and nominal GDP would be equal for the entire period.Note: please see figure 2.1 on page 31 of the text book.Question 2During the date 1990s, Japan experienced reductions in the GDP deflator. Given this information, we know with certainty that:a)Real GDP fell during these periods.b)Real GDP did not change during these periods.c)The overall price level in Japan decreased during these periods.d)Both real GDP and the overall price level decreased during these periods.Question 3Suppose that in January 2003 in Australia, 200 million people are working, 20 million are not working but are looking for work, and 40 million are not working and have given up looking for work. The official unemployment rate for that month is:a)7.7%b)9.1%c)10%d)23%e)30%Question 4A country using the Australian system of unemployment statistics has 100 million people, of whom 50 million are working age. Of these 50 million, 20 million have jobs. Of the remainder: 10 million are actively searching for jobs; 10 million would like jobs but are not searching; and 10 million do not want jobs at all.The labour force is:a)10 millionb)20 millionc)30 milliond)40 millione)50 millionQuestion 5Suppose the consumption equation is represented by the following: C=100+ .75Y D. The multiplier in this economy is_______.a)0.25b)0.75c) 1.33d) 2e) 4Question 6The paradox of saving suggests that an increase in the desire to save will cause:a)An incease in equilibrium GDP.b) A reduction in GDP.c)An increase in the desire to invest.d)No change in equilibrium GDP.e) A permanent increase in the level of saving.Note: Please see definition of “ paradox of saving” on page 674 of the text book.( saving S↑→Y↓→S↓(S=Y-T-C) so,saving is unchanged )Question 7When C= C0+C1Y D, an increase in C0 will cause which of the following to increase?a)Equilibrium incomeb)Equilibrium disposable incomec)Equilibrium savingd)All of the abovee)None of the aboveQuestion 8Suppose the central bank wishes to conduct expansionary monetary policy. Given this, we would expect which of the following to occur?a) A central bank purchase of bonds and an increase in the interest rateb) A central bank purchase of bonds and a reduction in the interest ratec) A central bank sale of bonds and an increase in the interest rated) A central bank sale of bonds and a reduction in the interest rateQuestion 9Suppose the money supply decreased. Which of the following events could cause this?a)An increase in the monetary baseb) A decrease in the ratio of reserves to depositsc) A shift in public preferences away from currency toward current account depositsd)All of the abovee)None of the aboveQuestion 10Suppose there is an open market sale of bonds. Such an event will cause:a)An increase in bond prices and an increase in the interest rate(i)b) A reduction in bond prices and an increase in i.c)An increase in bond prices and a reduction in i.d) A reduction in abond prices and a reduction in i.e)None of the aboveQuestion 11After a contractionary fiscal policy:a)The LM curve shifts and we move along the IS curve.b)The IS curve shifts and we move along the LM curve.c)Both the IS and LM curve shift.d)Neither the IS nor the LM curve shifts.e)Output will change causing a chage in money demand and a shift of the LM curve.Quetsion 12Suppose there is a tax cut. Which of the following represents the complete list of variables that must increase in response to this tax cut?a)Consumptionb)Consumption and investmentc)Consumption, investment and outputd)Consumption and outpute)Consumption, output and the interest rateQuestion 13If efficiency wage theory is valid,we would expect a relatively high premium over the reservation wage when:a)The unemployment rate is high.b)The job requires very little training.c)Workers cannot be easily monitored.d)Workers have few other options for employment in the area.e)All of the aboveQuestion 14The natural level of output is the level of output that occurs when:a)The goods market is in equilibrium.b)The economy is operating at the unemployment rate consistent with both the wage-settingand price-setting equations.c)The financial markets are in equilibrium.d)The unemployment rate is zero.e)Both the goods and financial markets are in equilibrium.Question 15Use the following Phillips curve equation to answer this question: πt -πt-1 = (μ+z)-αu t.A permanent reduction in the unemployment rate causes:a)An increase in the markup over labour costs.b) A decrease in the markup over labour costs.c)An increase in the inflation rate over time.d) A decrease in the inflation rate over time.e)None of the aboveQuestion 16If policymakers underestimate the natural rate of unemployment, they may follow policies that cause Australia to have:a)More unemployment than necessary.b)An unemployment rate that is “to high”c) A higher inflation rate than necessary.d) A steadily decreasing inflation rate.e) A dramatically fluctuating unemployment rate.Question 17Based on a dynamic AD relation when the central bank controls nominal money, output growth will equal zero when which of the following conditions is satisfied?a)0% nominal money growth; 4% inflationb)4% nonminal money growth; 0% inflationc)-4% nominal money growth; 3% inflationd)4% nominal money growth; 4% inflatione)None of the aboveNote: dynamic AD relation: g y = g m - π. So, if g m = π = 4%, g y = 0.Question 18In the medium run, a reduction in the rate of inflation target will cause:a)An increase in the size of the sacrifice ratio.b) A reduction in the size of the sacrifice ratio.c) A reduction in adjusted money growth.d) A reduction in the rate of inflation.e)Both C and DNote: Please see figure 9.3 on page 217 of the text book.Question 19Which of the following will increase the steady-state growth rate of capital?a)An increase in the saving rateb)An increase in the population growth ratec) A temporary increase in technological progressd)All of the abovee)None of the aboveNote: Please see figure 12.3 on page 282 of the text book.Question 20Which of the following has been proposed as an explanation for the slowdown in technological progress since the mid-1970s?a)Measurement errorb) A dicline in manufacturing’s share in GDPc) A decline in spending on research and developmentd)All of the abovee)None of the aboveNote: Please see page 272- 274 of the text book of the last year.Question 21Which of the following is true whenever the inflation rate is positve?a)The real interest rate must be greater than the nominal interest rate.b)The real interest rate must be negative.c)The real interest rate must be positive.d)The nominal interest rate must be negative.e)None of the aboveQuestion 22If the nominal interest rate in 20% per year, how much money can an individual borrow today if she wants to repay $200 in one year?a)$240.00b)$150.00c)$160.00d)$166.67e)$180.00Note: 200/(1+20%) = $166.67Question 23Assume that the yield curve is downward-sloping yield curve. This suggests that financial market participants expect short-term interest rates to:a)Increase in the future.b)Decrease in the future.c)Be unstable in the future.d)Not change in the future.e)Rise in the near future, and fall in the more distant future.Question 24In general, when the short-term interest rates decrease, long-term rates will:a)Increaseb)Remain the same.c)Decrease by more than the short-term rate.d)Decrease by the same amount as the short-term rate.e)Decrease, but by less than the short-term rate.Question 25Which of following represents non-human wealth?a)Total wealth minus the present discounted value of expected future after-tax labour incomeb)Total wealth minus financial wealthc)Wealth that cannot be taken from a person, by lawd)Financial wealth minus housing wealthe)Total wealth minuse housing wealthQuestion 26Suppose individuals expect that interest rates will rise in the future. Also assume that the RBA wants to prevent any change in current output. Given this goal of the RBA, the RBA should implement a plocy in the current period that:a)Shifts the IS cruve rightward.b)Shifts the IS curve leftward.c)Shifts the IS curve leftward and the LM curve upward.d)Shifts the LM curve upward.e)Shifts the LM curve downward.Question 27Suppose there is a real appreciation of the Australian dollar. Which of the following may have occurred?a)Foreign currency has become less expensive in the Australian dollars.b)Foreign goods have become more expensive to Americans.c)The foreign price level has increased relative to the Australian price level.d)All of the abovee)None of the aboveNote: ε = EP/ P*Question 28An increase in the real exchange rate indicates that:a)Foreign goods are now relatively cheaper.b)Foreign goods are now relatively more expensive.c)Domestic goods are now relatively more expensive.d)Both A and CNote: ε = EP/ P*. so P↑ or P*↓→ ε↑Question 29Suppose there is a reduction in foreign output(Y*). This reduction in Y* will cause which of the following in the domestic country?a) A reduction in outputb) A reduction in consumptionc) A reduction in net exportsd)All of the abovee)None of the aboveNote : (1) Y*↓→ X↓→NX↓→Z↓→Y↓(2) C↓ = c0 + c1(Y↓ -T)Question 30Suppose net exports are postive(NX>0) for a country. Given this information, we know that:a)Demand for domestic goods will be equal to the domestic demand for goods.b)Demand for domestic goods will be greater than the domestic demand for goods.c)Demand for domestic goods will be less than the domestic demand for goods.d) A budget surplus exists.Note : domestic demand for goods: DD = C+I+Gdemand for domestic goods: ZZ = C+I+G+NX = DD + NXQuestion 31In an open economy under flexible exchange rates, a reduction in the interest rate will cause an increase in which of the follwing?a)Investmentb)Exportsc)Net exportsd)All of the abovee)None of the aboveQuestion 32Suppose a country inplements simultaneously a fiscal expansion and monetary contraction. In a flexible exchangerate regime, we know with certainty that:a)The exchange rate and output would both increase.b)The exchange rate would increase and output would decrease.c)The exchange rate would increase.d)The exchange rate would decrease output would increase.Question 33Which of the following explains why the Great Depression did not end sooner?a)An increase in the nominal money stockb)An increase in the price levelc)The presence of a liquidity trapd)All of the abovee)None of the aboveQuestion 34In the IS-LM model, an increase in the expected rate of deflation will cause:a)An increase in demand.b)An increase in the nominal interest rate.c)An increase in the real interest rate.d)An increase in the nominal money supply.e) A decrease in the nominal money supply.Note: r ≈ i - eQuestion 35A dangerous sign for hyperinflation is when the government finances a growing proportion of its budget deficit through:a)Monetisationb)Tax collections.c)Bonds sold to foreigners.d)Bonds sold to domestic citizens.e)Voluntary contributions.Question 36Seignorage, the revenue from money creation, equals which of the following?a)The rate of inflationb)The rate of inflation times real money balancesc)Real money balancesd)The percentage growth rate of real moneye)The percentage growth rate of nominal money times real money balancesNote : Seignorage =△M/P = (△M/M)(M/P)Question 37Due to uncertainty about the impact of monetary policy, it would be best for the central bank to increase money growth:a) 3 months after the start of a recession.b)By more than the increase that will get the desired response.c)By less than the increase that will get the desired response.d)Only when it can be certain about the value of Okun’s coefficient and the timing of itsimpacts.e)Only after it is centain that the economy has entered a recession.Question 38The problem of time inconsistency in macro policy suggests that a nation might be better off:a)Using fiscal and monetary policy to fine tune the economy.b)Reducing the independence of the central bank.c)Appointing someone who is more conservative than the rest of the government to head thecentral bank.d)Intervening frequently in the foreign exchange market.e)Eliminating rational expectations from econometric models used for forecasting.Question 39According to Keynes:a)The Great Depression was caused by ill-considered expansionary fiscal policy.b)Balancing the budget in the midst of a depression would be a serious mistake.c)Inflation is always and everywhere a monetary phenomenon.d)The Phillips curve is stable.e)None of the aboveQuestion 40Which of the following events led to the crisis in macroeconomics and to the development of rational expectations theory?a)The Great Depressionb)The stock market crash of 1987c)The stock market speculative bubble of the late 1990sd)Stagflation in the 1970se)Large budget deficits in the 1980s.Question 41Explain the concept of neutrality of money.( please see p673 of the text book and the slides of module 3(cont.). )Question 42Explain the concept of time inconsistency.( please see the slides of module 6 (cont.) )Question 43Define each of the following terms:a)Okun’s Lawb)Sacrifice ratioc)Financial wealthQuestion 44Suppose some countries have been experiencing a slow-down in economic growth for last 2years. The slow-down was associated with a downturn in consumer confidence. The governments of these countries are thinking to implement expansionary fiscal and monetary policies (by increasing government expenditure and reducing interest rates) to overcome the situation. Using an IS-LM model, analyse the slow-down in growth and the short run effects of expansionary fiscal and monetary policies.Answer: ( please draw the Is and LM curve )Question 45a)Consider an economy with output below the natural level and the nominal interest rateequal to zero. Illustrate this economy in an IS-LM diagram.b)Under normal circumstances, how does the economy return to the naural level of output?Does this adjustment mechanism work when the nominal interest rate equals zero?c)Suppose the central bank wants to use monetary policy to return the economy to its naturallevel of output. Can it do so when the nominal interest rate is equal to zero? What happens if the central bank tries to use expansionary monetary policy? Illustrate your answer in an IS-LM diagram.d)In principle, can fiscal policy be used to restore the economy to its natural level of outputwhen the nominal interest rate equals zero? If so, explain how the appropriate policy affects output. If not, explain why not.e)Consider the following policy advice: ‘Since the central bank can act to keep the economy atthe natural level of output, the government should never use fiscal policy to stimulate the economy.’Do your answers to this question support this advice?Answer: ( please see slides 13-31 of module 6 )- 11 -。

Question 1In Australia ,using 2000-01 as the base year, we would find that:a)Nominal GDP is always larger than real GDP.b)Real GDP is always larger than nominal GDP for the period 1960 to 2000.c)Real GDP is larger than nominal GDP from 1998 to 2002.d)Real GDP is smaller than nominal GDP from 1988 to 1995.e)Real GDP and nominal GDP would be equal for the entire period.Note: please see figure 2.1 on page 31 of the text book.Question 2During the date 1990s, Japan experienced reductions in the GDP deflator. Given this information, we know with certainty that:a)Real GDP fell during these periods.b)Real GDP did not change during these periods.c)The overall price level in Japan decreased during these periods.d)Both real GDP and the overall price level decreased during these periods.Suppose that in January 2003 in Australia, 200 million people are working, 20 million are not working but are looking for work, and 40 million are not working and have given up looking for work. The official unemployment rate for that month is:a)7.7%b)9.1%c)10%d)23%e)30%Question 4A country using the Australian system of unemployment statistics has 100 million people, of whom 50 million are working age. Of these 50 million, 20 million have jobs. Of the remainder: 10 million are actively searching for jobs; 10 million would like jobs but are not searching; and 10 million do not want jobs at all.The labour force is:a)10 millionc)30 milliond)40 millione)50 millionQuestion 5Suppose the consumption equation is represented by the following: C=100+ .75Y D. The multiplier in this economy is_______.a)0.25b)0.75c) 1.33d) 2e) 4Question 6The paradox of saving suggests that an increase in the desire to save will cause:a)An incease in equilibrium GDP.b) A reduction in GDP.c)An increase in the desire to invest.d)No change in equilibrium GDP.e) A permanent increase in the level of saving.Note: Please see definition of “paradox of saving”on page 674 of the text book. ( saving S↑→Y↓→S↓(S=Y-T-C) so,saving is unchanged )Question 7When C= C0+C1Y D, an increase in C0 will cause which of the following to increase?a)Equilibrium incomeb)Equilibrium disposable incomec)Equilibrium savingd)All of the abovee)None of the aboveQuestion 8Suppose the central bank wishes to conduct expansionary monetary policy. Given this, we would expect which of the following to occur?a) A central bank purchase of bonds and an increase in the interest rateb) A central bank purchase of bonds and a reduction in the interest ratec) A central bank sale of bonds and an increase in the interest rated) A central bank sale of bonds and a reduction in the interest rateQuestion 9Suppose the money supply decreased. Which of the following events could cause this?a)An increase in the monetary baseb) A decrease in the ratio of reserves to depositsc) A shift in public preferences away from currency toward current accountdepositsd)All of the abovee)None of the aboveQuestion 10Suppose there is an open market sale of bonds. Such an event will cause:a)An increase in bond prices and an increase in the interest rate(i)b) A reduction in bond prices and an increase in i.c)An increase in bond prices and a reduction in i.d) A reduction in abond prices and a reduction in i.e)None of the aboveQuestion 11After a contractionary fiscal policy:a)The LM curve shifts and we move along the IS curve.b)The IS curve shifts and we move along the LM curve.c)Both the IS and LM curve shift.d)Neither the IS nor the LM curve shifts.e)Output will change causing a chage in money demand and a shift of the LMcurve.Quetsion 12Suppose there is a tax cut. Which of the following represents the complete list of variables that must increase in response to this tax cut?a)Consumptionb)Consumption and investmentc)Consumption, investment and outputd)Consumption and outpute)Consumption, output and the interest rateQuestion 13If efficiency wage theory is valid,we would expect a relatively high premium over the reservation wage when:a)The unemployment rate is high.b)The job requires very little training.c)Workers cannot be easily monitored.d)Workers have few other options for employment in the area.e)All of the aboveQuestion 14The natural level of output is the level of output that occurs when:a)The goods market is in equilibrium.b)The economy is operating at the unemployment rate consistent with both thewage-setting and price-setting equations.c)The financial markets are in equilibrium.d)The unemployment rate is zero.e)Both the goods and financial markets are in equilibrium.Question 15Use the following Phillips curve equation to answer this question: πt -πt-1 = (μ+z)-αu t.A permanent reduction in the unemployment rate causes:a)An increase in the markup over labour costs.b) A decrease in the markup over labour costs.c)An increase in the inflation rate over time.d) A decrease in the inflation rate over time.e)None of the aboveQuestion 16If policymakers underestimate the natural rate of unemployment, they may follow policies that cause Australia to have:a)More unemployment than necessary.b)An unemployment rate that is “to high”c) A higher inflation rate than necessary.d) A steadily decreasing inflation rate.e) A dramatically fluctuating unemployment rate.Question 17Based on a dynamic AD relation when the central bank controls nominal money, output growth will equal zero when which of the following conditions is satisfied?a)0% nominal money growth; 4% inflationb)4% nonminal money growth; 0% inflationc)-4% nominal money growth; 3% inflationd)4% nominal money growth; 4% inflatione)None of the aboveNote: dynamic AD relation: g y = g m - π. So, if g m = π = 4%, g y = 0.Question 18In the medium run, a reduction in the rate of inflation target will cause:a)An increase in the size of the sacrifice ratio.b) A reduction in the size of the sacrifice ratio.c) A reduction in adjusted money growth.d) A reduction in the rate of inflation.e)Both C and DNote: Please see figure 9.3 on page 217 of the text book.Question 19Which of the following will increase the steady-state growth rate of capital?a)An increase in the saving rateb)An increase in the population growth ratec) A temporary increase in technological progressd)All of the abovee)None of the aboveNote: Please see figure 12.3 on page 282 of the text book.Question 20Which of the following has been proposed as an explanation for the slowdown in technological progress since the mid-1970s?a)Measurement errorb) A dicline in manufacturing’s share in GDPc) A decline in spending on research and developmentd)All of the abovee)None of the aboveNote: Please see page 272- 274 of the text book of the last year.Question 21Which of the following is true whenever the inflation rate is positve?a)The real interest rate must be greater than the nominal interest rate.b)The real interest rate must be negative.c)The real interest rate must be positive.d)The nominal interest rate must be negative.e)None of the aboveQuestion 22If the nominal interest rate in 20% per year, how much money can an individual borrow today if she wants to repay $200 in one year?a)$240.00b)$150.00c)$160.00d)$166.67e)$180.00Note: 200/(1+20%) = $166.67Question 23Assume that the yield curve is downward-sloping yield curve. This suggests that financial market participants expect short-term interest rates to:a)Increase in the future.b)Decrease in the future.c)Be unstable in the future.d)Not change in the future.e)Rise in the near future, and fall in the more distant future.Question 24In general, when the short-term interest rates decrease, long-term rates will:a)Increaseb)Remain the same.c)Decrease by more than the short-term rate.d)Decrease by the same amount as the short-term rate.e)Decrease, but by less than the short-term rate.Question 25Which of following represents non-human wealth?a)Total wealth minus the present discounted value of expected future after-taxlabour incomeb)Total wealth minus financial wealthc)Wealth that cannot be taken from a person, by lawd)Financial wealth minus housing wealthe)Total wealth minuse housing wealthQuestion 26Suppose individuals expect that interest rates will rise in the future. Also assume that the RBA wants to prevent any change in current output. Given this goal of the RBA, the RBA should implement a plocy in the current period that:a)Shifts the IS cruve rightward.b)Shifts the IS curve leftward.c)Shifts the IS curve leftward and the LM curve upward.d)Shifts the LM curve upward.e)Shifts the LM curve downward.Question 27Suppose there is a real appreciation of the Australian dollar. Which of the following may have occurred?a)Foreign currency has become less expensive in the Australian dollars.b)Foreign goods have become more expensive to Americans.c)The foreign price level has increased relative to the Australian price level.d)All of the abovee)None of the aboveNote: = EP/ P*Question 28An increase in the real exchange rate indicates that:a)Foreign goods are now relatively cheaper.b)Foreign goods are now relatively more expensive.c)Domestic goods are now relatively more expensive.d)Both A and CNote: ε = EP/ P*. so P↑or P*↓→ε↑Question 29Suppose there is a reduction in foreign output(Y*). This reduction in Y* will cause which of the following in the domestic country?a) A reduction in outputb) A reduction in consumptionc) A reduction in net exportsd)All of the abovee)None of the aboveNote : (1) Y*↓→X↓→NX↓→Z↓→Y↓(2) C↓= c0 + c1(Y↓-T)Question 30Suppose net exports are postive(NX>0) for a country. Given this information, we know that:a)Demand for domestic goods will be equal to the domestic demand for goods.b)Demand for domestic goods will be greater than the domestic demand forgoods.c)Demand for domestic goods will be less than the domestic demand for goods.d) A budget surplus exists.Note : domestic demand for goods: DD = C+I+Gdemand for domestic goods: ZZ = C+I+G+NX = DD + NXQuestion 31In an open economy under flexible exchange rates, a reduction in the interest rate will cause an increase in which of the follwing?a)Investmentb)Exportsc)Net exportsd)All of the abovee)None of the aboveQuestion 32Suppose a country inplements simultaneously a fiscal expansion and monetary contraction. In a flexible exchangerate regime, we know with certainty that:a)The exchange rate and output would both increase.b)The exchange rate would increase and output would decrease.c)The exchange rate would increase.d)The exchange rate would decrease output would increase.Question 33Which of the following explains why the Great Depression did not end sooner?a)An increase in the nominal money stockb)An increase in the price levelc)The presence of a liquidity trapd)All of the abovee)None of the aboveQuestion 34In the IS-LM model, an increase in the expected rate of deflation will cause:a)An increase in demand.b)An increase in the nominal interest rate.c)An increase in the real interest rate.d)An increase in the nominal money supply.e) A decrease in the nominal money supply.Note: r ≈i - eQuestion 35A dangerous sign for hyperinflation is when the government finances a growing proportion of its budget deficit through:a)Monetisationb)Tax collections.c)Bonds sold to foreigners.d)Bonds sold to domestic citizens.e)Voluntary contributions.Question 36Seignorage, the revenue from money creation, equals which of the following?a)The rate of inflationb)The rate of inflation times real money balancesc)Real money balancesd)The percentage growth rate of real moneye)The percentage growth rate of nominal money times real money balancesNote : Seignorage =△M/P = (△M/M)(M/P)Question 37Due to uncertainty about the impact of monetary policy, it would be best for the central bank to increase money growth:a) 3 months after the start of a recession.b)By more than the increase that will get the desired response.c)By less than the increase that will get the desired response.d)Only when it can be certain about the value of Okun’s coefficient and thetiming of its impacts.e)Only after it is centain that the economy has entered a recession.Question 38The problem of time inconsistency in macro policy suggests that a nation might bebetter off:a)Using fiscal and monetary policy to fine tune the economy.b)Reducing the independence of the central bank.c)Appointing someone who is more conservative than the rest of the governmentto head the central bank.d)Intervening frequently in the foreign exchange market.e)Eliminating rational expectations from econometric models used forforecasting.Question 39According to Keynes:a)The Great Depression was caused by ill-considered expansionary fiscal policy.b)Balancing the budget in the midst of a depression would be a serious mistake.c)Inflation is always and everywhere a monetary phenomenon.d)The Phillips curve is stable.e)None of the aboveQuestion 40Which of the following events led to the crisis in macroeconomics and to the development of rational expectations theory?a)The Great Depressionb)The stock market crash of 1987c)The stock market speculative bubble of the late 1990sd)Stagflation in the 1970se)Large budget deficits in the 1980s.Question 41Explain the concept of neutrality of money.( please see p673 of the text book and the slides of module 3(cont.). )Question 42Explain the concept of time inconsistency.( please see the slides of module 6 (cont.) )Question 43Define each of the following terms:a)Okun’s Lawb)Sacrifice ratioc)Financial wealthQuestion 44Suppose some countries have been experiencing a slow-down in economic growth for last 2years. The slow-down was associated with a downturn in consumer confidence. The governments of these countries are thinking to implement expansionary fiscal and monetary policies (by increasing government expenditure and reducing interest rates) to overcome the situation. Using an IS-LM model, analyse the slow-down in growth and the short run effects of expansionary fiscal and monetary policies.Answer: ( please draw the Is and LM curve ) Question 45a)Consider an economy with output below the natural level and the nominalinterest rate equal to zero. Illustrate this economy in an IS-LM diagram.b)Under normal circumstances, how does the economy return to the naural levelof output? Does this adjustment mechanism work when the nominal interest rate equals zero?c)Suppose the central bank wants to use monetary policy to return the economyto its natural level of output. Can it do so when the nominal interest rate is equal to zero? What happens if the central bank tries to use expansionary monetary policy? Illustrate your answer in an IS-LM diagram.d)In principle, can fiscal policy be used to restore the economy to its natural levelof output when the nominal interest rate equals zero? If so, explain how the appropriate policy affects output. If not, explain why not.e)Consider the following policy advice: ‘Since the central bank can act to keepthe economy at the natural level of output, the government should never use fiscal policy to stimulate the economy.’Do your answers to this question support this advice?Answer: ( please see slides 13-31 of module 6 )。

英⽂版宏观经济典型例题附带答案解析Macroeconomics 1、2、3、4、Abby consumes only apples. In year 1, red apples cost 1 dollar each, green apples cost 2 dollar each, and Abby buys 10 red apples. In year 2, red apples cost 2 dollar, green apples cost 1 dollar, and Abby buys 10 green apples./doc/94a02097720abb68a98271fe910ef12d2bf9a95f.html pute a consumer price index for apples for each year. Assume that year 1isthe base year in which the consumer basket is fixed. How does your index change from year 1 to year 2?/doc/94a02097720abb68a98271fe910ef12d2bf9a95f.html pute Abby’s nominal spending on apples in each year. How does it changefrom year 1 to year 2?/doc/94a02097720abb68a98271fe910ef12d2bf9a95f.html ing year 1 as the base year, compute Abby’s real spending on apples in eachyear. How does it change from year 1 to year 2?d.Defining the implicit price deflator as nominal spending divided by realspending, compute the deflator for each year. How does the deflator changefrom year 1 to year 2?Suppose that Abby is equally happy eating red or green apples. How much has the true cost of living increased for Abby? Compare this answer to your answers to parts (a) and (d). What does this example tell you about Laspeyres and Paasche price indexes?a.According to the CPI(消費物價指數), prices have doubled.b. N-spending is the total value of output produced in each year. In Y1 and Y2, Abby buys 10 apples for $1 each, so her N-spending remains constant at $10.c. R-spending is the total value of output produced in each year valued at the prices prevailing in Y1.In Y1,the base year,her R-spending equals her N-spending of $10. In year 2, she consumes 10 green apples that are each valued at their Y1 price of $2, so her real spending is $20.Hence, Abby’s real spending rises from $10 to $20.d.Thus, the implicit price deflator suggests that prices have fallen by half.e. If Abby thinks of red apples and green apples as perfect substitutes, then the cost ofliving in this economy has not changed.According to the CPI, however, the cost of living has doubled. In contrast to the CPI, the implicit price deflator estimates the cost of living has halved.Thus, the CPI, a Laspeyres index, overstates the increase in the cost of living and the deflator, a Paasche index, understates it.This chapter of the text discusses the difference between Laspeyres and Paasche indices in more detail.5、6、Suppose that an economy’s production function is Cobb-Douglas withα=.parameter 0.3a. What fractions of income do capital and labor receive?b. Suppose that immigration increases the labor force by 10 percent. What happen to total output? The rental price of capital? The real wage?c. Suppose that a gift of capita form abroad raises the capital stock by 10 percent. What happens to total output(in percent). The rental price of capital? The real wage?d. Suppose that a technological advance raises the value of the parameter A by 10 percent. What happens to total output? The rental price of capital? The real wage?7、Suppose that the money demand function takes the form(/)(,)/(5)d M P L i Y Y i ==a. If output grows at rate g, at what rate will the demand for real balancesgrow(assuming constant nominal interest rates)?b.What is the velocity of money in this economy?c.If inflation and nominal interest rates are constant, at what rate, if any, will velocity grow?d.How will a permanent increase in the level of interest rates affect the level of velocity? How will it affect the subsequent growth rate of velocity?8、Consider an economy with the following Cobb-Douglas production function: 123Y K LThe economy has 1000 units of capital and a labor force of 1000 workers.a.Derive the equation describing labor demand in this economy as a function of the real wage and the capital stock.b.If the real wage can adjust to equilibrate labor supply and labordemand, what is the real wage? In this equilibrium, what are employment, output, and the total amount earned by workers? c.Now suppose that Congress, concerned about the welfare of theworking class, passes a law requiring firms to pay workers a real wage of 1 unit of output. How does this wage compare to the equilibrium wage?d.Congress cannot dictate how many workers firm hire at the mandatedwage. Given this fact, what are the effects of this law? Specifically, what happens to employment, output and the total amount earned by workers?e.Will Congress succeed in its goal of helping the working class?Explain.f.Do you think that this analysis provides a good way of thinking abouta minimum-wage law? Why or why not?9、One country , A, the capital share of GDP is 30 percent, the average growth inoutput is 3 percent per year, the depreciation rate is about 4 percent per year, and the capital-output rate is about 2.5. Suppose that the production function is Cobb-Douglas, so the capital share is constant, and that country A has been in a steady state ;.a. What must the saving rate be in the initial?b. Compare the capital-output ratio at the Golden Rule steady state to thecapital-output ratio in the initial state.c. What must the saving rate be to reach the Golden Rule steady state? Doses itneed to be increased or decreased? What policies might country A purse ?10、Two countries, Richland and Poorland, are described by the Solow growthmodel. They have the same Cobb-Douglas production function , 1(,)F K L AK L αα-=, butwith different quantities of capital and labor,. Richland save 32 percent of its income,while Poorland saves 10 percent. Richland has population growth of 1 percent per year, while Poorland has population growth of 3 percent.(The numbers in this problem are chosen to be approximately realistic descriptions of rich and poor nations.) Both nations have technological progress at rate of 2 percent per year and depreciation at a rate of 5 percent per year.a.What is the per-worker production function f(k)?b.Solve for the ratio of Richland’s steady-state income per worker to Poorland’s.(Hint: The parameter αwill play a role in your answer.)c.If the Cobb-Douglas parameter αtakes the conventional value of about 1/3,how much higher should income per worker in Richland compared to Poorland?d.Income per worker in Richland is actually 16 times income per worker inPoorland. Can you explain this fact by changing the value of parameter α?What must it be? Can you think of any way of justifying such a value for this parameter? How else might you explain the larger difference in income between Richland and Poorland?8、Suppose that consumption depends on the level of real money balance ( on the grounds that real money balances are part of wealth). Show that if real money balances depend on the nominal interest rate, then an increase in the rate ofmoney growth affects consumption, investment, and the real interest rate. Does the nominal interest rate adjust more than one-for-one or less than one-for-one to expected inflation?This deviation from the classical dichotomy and the Fisher effect is called the Mundell-Tobin effect. How might you decidewhether the Mundell-Tobin effect is important in practi概率⼩：3、Consider how each of the following events is likely to affect real GDP. Do you think the change in real GDP reflects a similar change in economic well-being?a. A hurricane in Florida forces Disney World to shut down for a month.b. Increased hostility between unions and management sparks a rash of strikes?c. Firms throughout the economy experience falling demand, causing them to lay off workers.d. More high-school students drop out of school to take jobs mowing lawns.4、When the government subsidizes investment, such as with an investment taxcredit, the subsidy often applies to only some types of investment. This question asks you to consider the effect of such a change. Suppose there are two types of investment in the economy: business investment and residential investment. And suppose that the government institutes an investment taxcredit only for business investment.a. How does this policy affect the demand curve for business investment? Thedemand curve for residential investment?b. Draw the economy’s supply and demand for loanable funds. How does thispolicy affect the supply and demand for loanable funds? What happens to the equilibrium interest rate?c. Compare the old and the new equilibria. How does this policy affect the totalquantity of investment? The quantity of residential investment?。

习题集一Question 1In Australia ,using 2000-01 as the base year, we would find that:a)Nominal GDP is always larger than real GDP.b)Real GDP is always larger than nominal GDP for the period 1960 to 2000.c)Real GDP is larger than nominal GDP from 1998 to 2002.d)Real GDP is smaller than nominal GDP from 1988 to 1995.e)Real GDP and nominal GDP would be equal for the entire period.Note: please see figure 2.1 on page 31 of the text book.Question 2During the date 1990s, Japan experienced reductions in the GDP deflator. Given this information, we know with certainty that:a)Real GDP fell during these periods.b)Real GDP did not change during these periods.c)The overall price level in Japan decreased during these periods.d)Both real GDP and the overall price level decreased during these periods.Question 3Suppose that in January 2003 in Australia, 200 million people are working, 20 million are not working but are looking for work, and 40 million are not working and have given up looking for work. The official unemployment rate for that month is:a)7.7%b)9.1%c)10%d)23%e)30%Question 4A country using the Australian system of unemployment statistics has 100 million people, of whom 50 million are working age. Of these 50 million, 20 million have jobs. Of the remainder: 10 million are actively searching for jobs; 10 million would like jobs but are not searching; and 10 million do not want jobs at all.The labour force is:a)10 millionb)20 millionc)30 milliond)40 millione)50 millionQuestion 5Suppose the consumption equation is represented by the following: C=100+ .75Y D. The multiplier in this economy is_______.a)0.25b)0.75c) 1.33d) 2e) 4Question 6The paradox of saving suggests that an increase in the desire to save will cause:a)An incease in equilibrium GDP.b) A reduction in GDP.c)An increase in the desire to invest.d)No change in equilibrium GDP.e) A permanent increase in the level of saving.Note: Please see definition of “ paradox of saving” on page 674 of the text book.( saving S↑→Y↓→S↓(S=Y-T-C) so,saving is unchanged )Question 7When C= C0+C1Y D, an increase in C0 will cause which of the following to increase?a)Equilibrium incomeb)Equilibrium disposable incomec)Equilibrium savingd)All of the abovee)None of the aboveQuestion 8Suppose the central bank wishes to conduct expansionary monetary policy. Given this, we would expect which of the following to occur?a) A central bank purchase of bonds and an increase in the interest rateb) A central bank purchase of bonds and a reduction in the interest ratec) A central bank sale of bonds and an increase in the interest rated) A central bank sale of bonds and a reduction in the interest rateQuestion 9Suppose the money supply decreased. Which of the following events could cause this?a)An increase in the monetary baseb) A decrease in the ratio of reserves to depositsc) A shift in public preferences away from currency toward current account depositsd)All of the abovee)None of the aboveQuestion 10Suppose there is an open market sale of bonds. Such an event will cause:a)An increase in bond prices and an increase in the interest rate(i)b) A reduction in bond prices and an increase in i.c)An increase in bond prices and a reduction in i.d) A reduction in abond prices and a reduction in i.e)None of the aboveQuestion 11After a contractionary fiscal policy:a)The LM curve shifts and we move along the IS curve.b)The IS curve shifts and we move along the LM curve.c)Both the IS and LM curve shift.d)Neither the IS nor the LM curve shifts.e)Output will change causing a chage in money demand and a shift of the LM curve.Quetsion 12Suppose there is a tax cut. Which of the following represents the complete list of variables that must increase in response to this tax cut?a)Consumptionb)Consumption and investmentc)Consumption, investment and outputd)Consumption and outpute)Consumption, output and the interest rateQuestion 13If efficiency wage theory is valid,we would expect a relatively high premium over the reservation wage when:a)The unemployment rate is high.b)The job requires very little training.c)Workers cannot be easily monitored.d)Workers have few other options for employment in the area.e)All of the aboveQuestion 14The natural level of output is the level of output that occurs when:a)The goods market is in equilibrium.b)The economy is operating at the unemployment rate consistent with both the wage-settingand price-setting equations.c)The financial markets are in equilibrium.d)The unemployment rate is zero.e)Both the goods and financial markets are in equilibrium.Question 15Use the following Phillips curve equation to answer this question: πt -πt-1 = (μ+z)-αu t.A permanent reduction in the unemployment rate causes:a)An increase in the markup over labour costs.b) A decrease in the markup over labour costs.c)An increase in the inflation rate over time.d) A decrease in the inflation rate over time.e)None of the aboveQuestion 16If policymakers underestimate the natural rate of unemployment, they may follow policies that cause Australia to have:a)More unemployment than necessary.b)An unemployment rate that is “to high”c) A higher inflation rate than necessary.d) A steadily decreasing inflation rate.e) A dramatically fluctuating unemployment rate.Question 17Based on a dynamic AD relation when the central bank controls nominal money, output growth will equal zero when which of the following conditions is satisfied?a)0% nominal money growth; 4% inflationb)4% nonminal money growth; 0% inflationc)-4% nominal money growth; 3% inflationd)4% nominal money growth; 4% inflatione)None of the aboveNote: dynamic AD relation: g y = g m - π. So, if g m = π = 4%, g y = 0.Question 18In the medium run, a reduction in the rate of inflation target will cause:a)An increase in the size of the sacrifice ratio.b) A reduction in the size of the sacrifice ratio.c) A reduction in adjusted money growth.d) A reduction in the rate of inflation.e)Both C and DNote: Please see figure 9.3 on page 217 of the text book.Question 19Which of the following will increase the steady-state growth rate of capital?a)An increase in the saving rateb)An increase in the population growth ratec) A temporary increase in technological progressd)All of the abovee)None of the aboveNote: Please see figure 12.3 on page 282 of the text book.Question 20Which of the following has been proposed as an explanation for the slowdown in technological progress since the mid-1970s?a)Measurement errorb) A dicline in manufacturing’s share in GDPc) A decline in spending on research and developmentd)All of the abovee)None of the aboveNote: Please see page 272- 274 of the text book of the last year.Question 21Which of the following is true whenever the inflation rate is positve?a)The real interest rate must be greater than the nominal interest rate.b)The real interest rate must be negative.c)The real interest rate must be positive.d)The nominal interest rate must be negative.e)None of the aboveQuestion 22If the nominal interest rate in 20% per year, how much money can an individual borrow today if she wants to repay $200 in one year?a)$240.00b)$150.00c)$160.00d)$166.67e)$180.00Note: 200/(1+20%) = $166.67Question 23Assume that the yield curve is downward-sloping yield curve. This suggests that financial market participants expect short-term interest rates to:a)Increase in the future.b)Decrease in the future.c)Be unstable in the future.d)Not change in the future.e)Rise in the near future, and fall in the more distant future.Question 24In general, when the short-term interest rates decrease, long-term rates will:a)Increaseb)Remain the same.c)Decrease by more than the short-term rate.d)Decrease by the same amount as the short-term rate.e)Decrease, but by less than the short-term rate.Question 25Which of following represents non-human wealth?a)Total wealth minus the present discounted value of expected future after-tax labour incomeb)Total wealth minus financial wealthc)Wealth that cannot be taken from a person, by lawd)Financial wealth minus housing wealthe)Total wealth minuse housing wealthQuestion 26Suppose individuals expect that interest rates will rise in the future. Also assume that the RBA wants to prevent any change in current output. Given this goal of the RBA, the RBA should implement a plocy in the current period that:a)Shifts the IS cruve rightward.b)Shifts the IS curve leftward.c)Shifts the IS curve leftward and the LM curve upward.d)Shifts the LM curve upward.e)Shifts the LM curve downward.Question 27Suppose there is a real appreciation of the Australian dollar. Which of the following may have occurred?a)Foreign currency has become less expensive in the Australian dollars.b)Foreign goods have become more expensive to Americans.c)The foreign price level has increased relative to the Australian price level.d)All of the abovee)None of the aboveNote: ε = EP/ P*Question 28An increase in the real exchange rate indicates that:a)Foreign goods are now relatively cheaper.b)Foreign goods are now relatively more expensive.c)Domestic goods are now relatively more expensive.d)Both A and CNote: ε = EP/ P*. so P↑ or P*↓→ ε↑Question 29Suppose there is a reduction in foreign output(Y*). This reduction in Y* will cause which of the following in the domestic country?a) A reduction in outputb) A reduction in consumptionc) A reduction in net exportsd)All of the abovee)None of the aboveNote : (1) Y*↓→ X↓→NX↓→Z↓→Y↓(2) C↓ = c0 + c1(Y↓ -T)Question 30Suppose net exports are postive(NX>0) for a country. Given this information, we know that:a)Demand for domestic goods will be equal to the domestic demand for goods.b)Demand for domestic goods will be greater than the domestic demand for goods.c)Demand for domestic goods will be less than the domestic demand for goods.d) A budget surplus exists.Note : domestic demand for goods: DD = C+I+Gdemand for domestic goods: ZZ = C+I+G+NX = DD + NXQuestion 31In an open economy under flexible exchange rates, a reduction in the interest rate will cause an increase in which of the follwing?a)Investmentb)Exportsc)Net exportsd)All of the abovee)None of the aboveQuestion 32Suppose a country inplements simultaneously a fiscal expansion and monetary contraction. In a flexible exchangerate regime, we know with certainty that:a)The exchange rate and output would both increase.b)The exchange rate would increase and output would decrease.c)The exchange rate would increase.d)The exchange rate would decrease output would increase.Question 33Which of the following explains why the Great Depression did not end sooner?a)An increase in the nominal money stockb)An increase in the price levelc)The presence of a liquidity trapd)All of the abovee)None of the aboveQuestion 34In the IS-LM model, an increase in the expected rate of deflation will cause:a)An increase in demand.b)An increase in the nominal interest rate.c)An increase in the real interest rate.d)An increase in the nominal money supply.e) A decrease in the nominal money supply.Note: r ≈ i - eQuestion 35A dangerous sign for hyperinflation is when the government finances a growing proportion of its budget deficit through:a)Monetisationb)Tax collections.c)Bonds sold to foreigners.d)Bonds sold to domestic citizens.e)Voluntary contributions.Question 36Seignorage, the revenue from money creation, equals which of the following?a)The rate of inflationb)The rate of inflation times real money balancesc)Real money balancesd)The percentage growth rate of real moneye)The percentage growth rate of nominal money times real money balancesNote : Seignorage =△M/P = (△M/M)(M/P)Question 37Due to uncertainty about the impact of monetary policy, it would be best for the central bank to increase money growth:a) 3 months after the start of a recession.b)By more than the increase that will get the desired response.c)By less than the increase that will get the desired response.d)Only when it can be certain about the value of Okun’s coefficient and the timing of itsimpacts.e)Only after it is centain that the economy has entered a recession.Question 38The problem of time inconsistency in macro policy suggests that a nation might be better off:a)Using fiscal and monetary policy to fine tune the economy.b)Reducing the independence of the central bank.c)Appointing someone who is more conservative than the rest of the government to head thecentral bank.d)Intervening frequently in the foreign exchange market.e)Eliminating rational expectations from econometric models used for forecasting.Question 39According to Keynes:a)The Great Depression was caused by ill-considered expansionary fiscal policy.b)Balancing the budget in the midst of a depression would be a serious mistake.c)Inflation is always and everywhere a monetary phenomenon.d)The Phillips curve is stable.e)None of the aboveQuestion 40Which of the following events led to the crisis in macroeconomics and to the development of rational expectations theory?a)The Great Depressionb)The stock market crash of 1987c)The stock market speculative bubble of the late 1990sd)Stagflation in the 1970se)Large budget deficits in the 1980s.Question 41Explain the concept of neutrality of money.( please see p673 of the text book and the slides of module 3(cont.). )Question 42Explain the concept of time inconsistency.( please see the slides of module 6 (cont.) )Question 43Define each of the following terms:a)Okun’s Lawb)Sacrifice ratioc)Financial wealthQuestion 44Suppose some countries have been experiencing a slow-down in economic growth for last 2years. The slow-down was associated with a downturn in consumer confidence. The governments of these countries are thinking to implement expansionary fiscal and monetary policies (by increasing government expenditure and reducing interest rates) to overcome the situation. Using an IS-LM model, analyse the slow-down in growth and the short run effects of expansionary fiscal and monetary policies.Answer: ( please draw the Is and LM curve )Question 45a)Consider an economy with output below the natural level and the nominal interest rateequal to zero. Illustrate this economy in an IS-LM diagram.b)Under normal circumstances, how does the economy return to the naural level of output?Does this adjustment mechanism work when the nominal interest rate equals zero?c)Suppose the central bank wants to use monetary policy to return the economy to its naturallevel of output. Can it do so when the nominal interest rate is equal to zero? What happens if the central bank tries to use expansionary monetary policy? Illustrate your answer in an IS-LM diagram.d)In principle, can fiscal policy be used to restore the economy to its natural level of outputwhen the nominal interest rate equals zero? If so, explain how the appropriate policy affects output. If not, explain why not.e)Consider the following policy advice: ‘Since the central bank can act to keep the economy atthe natural level of output, the government should never use fiscal policy to stimulate the economy.’Do your answers to this question support this advice?Answer: ( please see slides 13-31 of module 6 )- 11 -。