宏观复习题 任课老师 任浓.doc

宏观习题 1.An American company owns a fast-food store in Lima, Peru. The value of the goods and services produced in the storea.are included in both Peruvian GDP and U.S. GDP.b.are included partly in Peruvian GDP and partly in U.S. GDP.c.are included in U.S. GDP, but not Peruvian GDP.d.are included in Peruvian GDP, but not U.S. GDP.2. A company produces 500 units of an intermediate good on the last day of the year. a.If it sells the good, GDP for that year will increase.b.If it sells the good, GDP for that year will remain unchanged.c.If it does not sell the good, GDP for that year will increase.d.b and c.3. Igor and Natalia have each been doing their own housework. Igor decides to hire Natalia to do his housework, and in turn, Natalia hires Igor to do her housework. As a result of this change,a.GDP falls.b.GDP rises.c.GDP is unaffected because housework is not included in GDP.d.GDP is unaffected because the same work is being performed in both cases.4. Which of the following is an example of double counting?a.errors made in adding together the value of all final goods and services to measure GDPb.adding the market value of the wood used to produce a house to the market value of the house in measuring GDPc.adding the change in inventories to GDPd.All of the above are examples of double counting.5. Oiko Nomos buys a new computer in June 2001 and then sells it to a friend in December 2001. GDPa.will include the value of both the June sale and the December sale.b.will include the full value of the June sale, but only part of the value of the December sale, since the computer had been used.c.will include the value of the June sale only.d.will include the value of the December sale only, since that was the final sale of the computer in 2001.6. If a U.S. citizen buys a tractor made in Belarus,a.U.S. net exports decrease, and U.S. GDP decreases.b.U.S. net exports are unaffected, and U.S. GDP decreases.c.U.S. net exports are unaffected, and U.S. GDP is unaffected.d.U.S. net exports decrease but U.S. GDP is unaffected.7. Which of the following represents a transfer payment?a.the government sends your grandfather his social security check.b.you transfer $1,000 from your bank account to a mutual fund.c.the bank transfers $10 quarterly interest to your savings account.d.your employer automatically transfers $100 each month from your pay to a non-taxable medical spending account.8. You send a gift of $500 to your brother in Montana. When it is received,a.GDP increases because the $500 represents income to your brother.b.GDP decreases because the $500 represents a reduction in your income.c.GDP is unaffected because the $500 represents a transfer, not a purchase.d.GDP increases because your brother will probably spend it.9.Based on the following data:Year Nominal GDP GDP deflator ( In Billions ) (Base Year 1992)1996 $7,662 1101997 $8,111 112A. What was the growth rate of nominal GDP between 1997 and 1996?B. What was the growth rate of GDP deflator between 1997 and 1996?A. The growth rate of nominal GDP is ($8,111 - $7,662)/$7,662 100% = 5.9%.B.The growth rate of the deflator is (112 - 110)/110 100% = 1.8%.10. The best measure of a countrys production of goods and services is a.nominal GDP.b.nominal GNP.c.real GDP.d.real NNP.11. If total spending rises from one year to the next, thena.the economy must be producing a larger output of goods and services.b.prices at which goods and services are sold must be higher.c.either the economy must be producing a larger output of goods and services, or the prices at which goods and services are sold must be higher, or exports must be falling.12. When economists talk about growth in the economy, they measure that growth witha.the absolute change in nominal GDP.b.the percentage change in real GDP.c.the absolute change in real GDP.d.the percentage change in nominal GDP.13. If the GDP deflator is 150 and nominal GDP is $9,000 billion, then real GDP isa.$600 billion.b.$6,000 billion.c.$1,350 billion.d.$135 billion.14. The GDP deflator can be used to identifya.the increase in nominal GDP that is due to an increase in prices rather than an increase in production.b.the increase in real GDP that is due to an increase in prices rather than an increase in production.c.the increase in the cost of living for typical U.S. consumers.d.the reduction in government spending required to balance the federal budget.15. If the GDP deflator was 100 in the base year of 2000, and was 105 in 2002, we can say thata.the price level increased by 105 percent from 2000 to 2002.b.the price level increased by 5 percent from 2000 to 2002.c.the price level increased by 205 percent from 2000 to 2002.d.we cannot judge price increases from changes in the GDP deflator.16. When the price of pork rises, consumers buy more chicken. Which of the problems in the construction of the CPI does this situation illustrate? a.substitution bias roduction of new goods c.unmeasured quality change d.a and b e.a and c17. Laura buys word processing software in 2001 for $50. Lauras twin brother Laurence buys an upgrade of the same software in 2002 for $50. What problem in the construction of the CPI does this situation best represent? a.substitution biasb.unmeasured quality roduction of new goodsd.all of the above18. When the overall level of prices in the economy is increasing, we say that the economy is experiencing a.economic growth. b.inflation.c.unemployment. d.deflation. 19. In the CPI, the base year is a.the benchmark against which other years are compared, updated each year. b.the benchmark against which other years are compared. c.a particularly bad year for consumer prices.d.always 1989.20. Which change in the price index shows the greatest rate of inflation: 80 to 96, 100 to 125, or 150 to 180? a.80 to 96 b.100 to 125 c.150 to 180 d.All changes show the same rate of inflation.21. Because the CPI is based on a fixed basket of goods, substitution bias causes the index toa.overstate the increase in the cost of living from one year to the next.b.ignore any increase in the cost of living from one year to the next. c.understate the increase in the cost of living from one year to the next. d.sometimes understate, and sometimes overstate the increase in the cost of living from one year to the next.22. In U.S. consumer spending, housing makes up _% of the total, food and beverages make up _% of the total, and transportation makes up _% of the total.a.50, 26, 27b.40, 16, 17c.17, 40, 16d.50, 17, 1623.If the cost of transportation and the cost of food and beverages increase by 30 percent, the CPI is likely to increase by a.about 30 percent. b.about 10 percent. c.about 3 percent. d.about 33 percent. 24. A Japanese automobile company produces cars in the United States, some of which are exported to other nations. If the price of the cars increases,a.the GDP deflator and the CPI will both increase.b.the GDP deflator will increase and the CPI will be unchanged.c.the GDP deflator will be unchanged and the CPI will increase.d.the GDP deflator and the CPI will both be unchanged.25. A Brazilian company produces shirts in the United States and exports all of them to Lithuania. If the price of the shirts increases,a.the GDP deflator and the CPI both increase.b.the GDP deflator is unchanged and the CPI increases.c.the GDP deflator increases and the CPI is unchanged. d.the GDP deflator and the CPI are unchanged.26. The nominal interest rate isa.the interest rate paid or charged by a bank. b.the interest rate as usually reported without a correction for the effects of inflation. c.a low interest rate. d.all of the abovee.a and b above27. If the nominal interest rate is 8% and rate of inflation is 3%, the real interest rate isa.11%. b.24%. c.5%. d.3.75%.28. If the nominal interest rate is 5% and the rate of inflation is 10%, the real interest rate isa.5%. b.50%. c.15%d.5%.29. Capital accumulationa.requires that society sacrifice consumption goods in the present.b.allows society to consume more in the present.c.decreases saving rates.d.has no tradeoffs.30. If there are diminishing returns to capital, a.increases in the capital stock eventually decrease output.b.increases in the capital stock increase output by ever smaller amounts.c.capital produces fewer goods as it ages.d.new ideas are not as useful as old ideas.31. Which of the following is human capital?a.breakfasts served in a companys cafeteriab.the exercise equipment in a companys gymc.understanding how to use a companys accounting softwared.All of the above are correct.32. Which of the following is a part of your Economics professors human capital?a.her copy of Mankiws textb.her chalk holderc.the degree she earned from some prestigious universityd.All of the above are correct.33. The catch-up effect refers to the idea thata.rich countries aid relatively poor countries so as to catch them up.b.savings will always catch-up with investment spending.c.it is easier for a country to grow fast if it starts out relatively poor.d.if investment spending is low, increased saving will help investment to catch-up.34. A rapid increase in the number of workers is likely to a.raise both real GDP and real GDP per person.b.raise real GDP, but decrease real GDP per person.c.raise real GDP per person, but decrease real GDP.d.decrease both real GDP and real GDP per person.35. An educated person might generate ideas to increase production. These duce external duce a return to society from education that is greater than the return to the individual.c.could justify government subsides for education.d.All of the above are correct.36. In a closed economy, national saving equalsa.investment.b.income minus the sum of consumption and government expenditures.c.private saving plus public saving.d.All of the above are correct.37. Suppose that in a closed economy GDP is equal to 8,000, Taxes are equal to 2,000, Consumption equals 5,000, and Government expenditures equal 1,000. What is national saving?a.0b.2000c.3000d.None of the above are correct.38. A budget deficit is created when the government a.buys back more bonds than it issues.b.spends more than it receives in tax revenue.c.receives more tax revenue than it spends.d.None of the above are correct.39. A higher interest rate induces people toa.save more, so the demand for loanable funds slopes upward.b.save less, so the demand for loanable funds slopes downward.c.invest more so the demand for loanable funds slopes upward.d.invest less so the demand for loanable funds slopes downward.40. If the government increased the tax on interest income, investmenta.would rise.b.would be unaffected.c.would fall.d.could rise, fall, or remain unchanged.41. A government budget deficita.increases private savings and national saving.b.increases public savings but reduces national saving.c.reduces private saving, but increases national saving.d.reduces both public and national saving.42. The fall in investment due to government borrowing is calleda.the reverse equity premium.b.crowding out.c.the reshuffle effect.d.the Ricardian Principle.43. The BLS recently reported that there were 45.06 million people over age 16 who had at least a bachelors degree. Of this number 36.21 million were in the labor force and 35.54 were employed. What was the labor-force participation rate and the unemployment rate for this group?a.about 98 percent and 1.49 percentb.about 80 percent and 1.85 percentc.about 79 percent and 1.89 percentd.None of the above is correct.44. John is looking for work as a lawyer. He has turned down a couple of jobs to search for a better match. Curtis is an out of work garbage collector. He would work for less than what the jobs he applied for pay.a.John and Curtis are both frictionally unemployed.b.John and Curtis are both structurally unemployed.c.John is frictionally unemployed and Curtis is structurally unemployed.d.John is structurally unemployed and Curtis is frictionally unemployed.45. The natural unemployment rate includesa.both frictional and structural unemployment.b.neither frictional nor structural unemployment.c.structural, but not frictional unemployment.d.frictional, but not structural unemployment.46. People who are unemployed because of job search are best classified asa.cyclically unemployed.b.frictionally unemployed.c.structurally unemployed.d.discouraged workers.47. Economists have found evidence that receiving unemployment-insurance benefitsa.decreases the job-search effort of the unemployed.b.has no effect on the job-search effort of the unemployed.c.increases the job-search effort of the unemployed.d.has an uncertain affect on the job-search effort of the unemployed.48. Frictional unemployment can be the consequence ofa.workers leaving existing jobs to find ones they like better.b.an industry declining while another is growing.c.changes in the working conditions offered by competing firms.d.All of the above are correct.49. A typical American worker covered by unemployment insurance receives a.100 percent of their former wages for 26 weeks.b.50 percent of their former wages for 26 weeks.c.25 percent of their former wages for 50 weeks.d.None of the above are correct.50. Minimum wage lawsa.are the major cause of natural bably reduce teenage employment.c.mainly affect skilled workers.d.None of the above are correct.51. When a union bargains successfully with an employer, it a.increases unemployment and wages.b.decreases unemployment and wages.c.increases unemployment and decreases wages.d.decreases unemployment and increases wages.52. Suppose a bank has a 10 percent reserve ratio, $5,000 in deposits, and it loans out all it can given the reserve ratio.a.It has $50 in reserves and $4,950 in loans.b.It has $500 in reserves and $4,500 in loans.c.It has $555 in reserves and $4,445 in loans.d.None of the above is correct.53. If the reserve ratio is 5 percent and a bank receives a new deposit of $500, this banka.must increase its required reserves by $25.b.will initially首先 see its total reserves increase by $500.c.will be able to make a new loan of $475.d.All of the above are true.54. When a bank loans out $100, the money supply a.does not change.b.increases.c.decreases.d.may do any of the above.55. An open market salea.increases the money supply.b.doesnt change the money supply.c.decreases the money supply.d.has an indeterminate effect on the money supply.Use the balance sheet for the following three questions.First Bank of ErehwonAssets LiabilitiesRequired Reserves$20.00 Deposits$100.00 Loans $80.00 56. The reserve ratio isa.zero percent.b.20 percent.c.80 percent.d.100 percent.57. If $1,000 is deposited into the First Bank of Erehwon,a.liabilities will decrease by $1,000.b.assets will increase by $1,000.c.total reserves will initially increase by $200.d.required reserves will increase by $800.58. If the reserve ratio is 15 percent, an additional $1,000 of reserves will increase the money supply bya.$150.b.$850.c.$6,667.d.$15,000.59. If reserve requirements are increased, the reserve ratio a.increases, the money multiplier increases, and the money supply increases.b.increases, the money multiplier decreases, and the money supply decreases.c.decreases, the money multiplier increases, and the money supply increases.d.decreases, the money multiplier decreases, and the money supply increases.60. When the Fed conducts open market purchases, bank reservesa.increase and banks can increase lending.b.increase and banks must decrease lending.c.decrease and banks can increase lending.d.decrease and banks must decrease lending.61. During recessions, banks typically choose to hold more excess reserves relative to their deposits. This actiona.increases the money multiplier and increases the money supply.b.decreases the money multiplier and decreases the money supply.c.does not change the money multiplier, but increases the money supply.d.does not change the money multiplier, but decreases the money supply.62. Which of the following is not included in M1?a.currencyb.demand depositsc.savings depositsd.None of the above is included in M1.63. The agency responsible for regulating the money supply in the United States is a.the Comptroller of the Currency. b.the U.S. Treasury.c.the Federal Reserve.d.the U.S. Bank.64. The value of moneya.is constant.b.is positively related to the price level.c.is determined by the supply and demand of money.d.is not explained by the quantity theory of money.65. The quantity of money demanded isa.positively related to the money supply.b.negatively related to the money supply.