中大岭院经原宏观部分期末试题A卷

1、08级岭院经原宏观部分期末试题a卷此试题经“特殊途径”获取，吴老师也不知道。千万不要外传，更不要拿题目问老师，给吴老师知道了，他就不会出同样的题了。大家一定要低调，低调。另外，特别鸣谢樊婧同学无私奉献本试题大家期末考加油_a multiple-choice questions（30%）1. the goals of macroeconomic policy include:a) high employmentb) low unemploymentc) stable pricesd) growing real gdp e) all of the above2. suppose that in a

2、 particular year, nominal gdp is less than real gdp. this implies that:a) inflation is lowb) inflation is highc) the year in question prior to the base yeard) the year in question after the base yeare) the answer cannot be determined from the information given3. the two approaches that economists us

3、e to measure gdp are:a) the goods flow and investment flowb) current surveys and historical datac) the product flow and spending flowd) household tax returns and corporate tax returnse) the product flow and the earnings flow4. what must be done to equalize the flow-of-product and the earnings or cos

4、t approaches?a) intermediate goods must be subtracted from the flow-of-product sumb) profits must be considered a residual costc) imputed rents must be excludedd) the dollar value of services produced mustbe included in the flow-of-producte) transfer payments by the government must be included in th

5、e flow-of-cost approach5. the mpc is the ratio ofa) extra consumption to extra incomeb) extra consumption to extra savingc) extra consumption to total incomed) total consumption to total incomee) break-even consumption to break-even income6. which of the following is not considered a category of inv

6、estment?a) stock and bond purchases.b) purchases of plant and equipmentc) purchases adding to inventoriesd) residential housing constructione) none of above7. which of the following best describes the money-supply effect?a) as prices rise,tight money leads to a decrease in total real spendingb) as t

7、he fed injects more money into the economy, prices increasec) tight money causes recessionsd) the greater the money supply, the greater the growth of the economye) none of the above8. on the basis of the keynesian model of output determination, equilibrium gross domestic product is described by all

8、but which one of the following?a) intersection of ss schedule with the ii scheduleb) intersection of the consumption-plus-saving schedule with the investment schedulec) intended investment equals actual investmentd) maintainable c+i spending equals production expenses, including profite) intersectio

9、n of the c+i line with the 45-degree line9. which of the following best describes the accelerator principle?a) once an economy passes a peak, the decline becomes self-perpetuatingb) an economy recovering from atrough,first grows faster, then slowerc) investment spending is stimulated by a growing ec

10、onomy; this in turn encourages more economic growthd) the accelerate-principle is related to large external shocks to the economye) none of the above10. on the basis of the keynesian model of output determination for a closed economy, the multiplier can be expressed algebraically as:a) 1/mpcb) 1/mpc

11、 1/mpsc) 1/(1-mps)d) 1/mpse) mpc/mps11. which of the following is an accurate statement according to the keynesian model?a) prices and wages always respond quickly to clear marketsb) the aggregate supply curve is vertical above potential gdpc) changes in aggregate demand can affect gdp, in the short

12、 run at least, if there exist unemployed resourcesd) policy has no effect on the level of employment because it cannot change the level of gdpe) all of the above12. a reduction in legal required reserve ratio will tend toa) reduce the money supply and reduce commercial bank loansb) reduce the money

13、supply and increase commercial bank loansc) increase the money supply and increase commercial bank loansd) increase the money supply and decrease commercial bank loanse) leave the money supply unaffected13. the power of the federal reserve to expand the total money supply is considerably restricted

14、if:a) commercial banks wish to hold no vault cashb) commercial banks are holding large excess reservesc) commercial banks are holding just the required amount of reservesd) all commercial banks are members of the federal reservee) interest rates are high14. required reserve ratios:a) exist primarily

15、 to ensure that deposits are safeb) exist to penalize banks that are member of the federal reserve systemc) exist primarily to help the fed control the money supplyd) exist for all of the above reasonse) exist for none of the above reasons15. if legal required reserve reserve ratios are increased, t

16、hen there is a tendency for:a) the money supply to decrease and commercial bank loans to increaseb) both money supply and commercial bank loans to decreasec) the money supply to increase and commercial bank loans to decreased) both money supply and commercial bank loans to increasee) the money suppl

17、y to decrease and commercial bank loans to remain unchanged16. a reduction in reserve requirements of member banks tends to counter a recession by:a) the issuing and redemption of gold certificatesb) consumer-credit controlsc) discount-rate policyd) changes in bank reserve requirementse) open-market

18、 operations17. the federal reserve authorities single most important stabilizing weapon is:a) the issuing and redemption of gold certificatesb) consumer-credit controlsc) discount-rate policyd) changes in bank reserve requirementse) open-market operations18. raising the discount rate, if effective,

19、tends to:a) expend the money supply and lower interest ratesb) expend the money supply and raise interest ratesc) contract the money supply and raise interest ratesd) contract the money supply and lower interest ratese) do none of the above19. which one of the following combinations represents the t

20、ools of monetary policy that are most available to the federal reserve in the effective exercise of monetary policy?a) discount-rate policy , control over stock-buying margin requirements, and moral suasionb) moral suasion and reserve-requirement changesc) open-market operations, reserve requirement

21、 changes, and discount-rate changesd) discount-rate policy and reserve-requirement changese) reserve-requirement changes and selective controls over consumer and mortgage credit20. in a malthusian development context, greater real wage rates a) are fostered by labor-saving devicesb) occur with great

22、er populationc) occur with less landd) are consistent with less labor per acree) are consistent with more labor per acre21. capital-deepening coupled with steady profit rates and technological progress must result in:a) a higher capital-output ratiob) a lower interest ratec) a higher wage rated) an

23、increase in labors relative share of gdpe) capital depreciation increases22. technological change causes:a) a drop in the return on capitalb) a drop in the return on laborc) a reduction in the rate of growthd) a decrease in the rate of capital accumulatione) a rightward shift in the production-possi

24、bility frontier23. according to the solow growth model, capital deepening refers to:a) the process by which the capital-labor ratio increase over timeb) technological advances in capital equipment over timec) the decline in economic growth resulting from the displacement of workers by capital equipm

25、entd) the self-perpetuating cycle of growth between technological advances and capital equipmente) none of the above24. the backwardness hypothesis suggests that:a) developing nations can draw upon the capital, skills, and technology of more advanced nationsb) todays developing economies may be able

26、 to grow more rapidly than those in the pastc) kuznets approach to economic growth may be the most accurated) all the abovee) a and b only25. suppose that government spending rises. assuming that the economy is operating at potential gdp, the long-run effect of this policy change should be:a) higher

27、 prices with no change in outputb) higher prices with higher outputc) higher prices with lower outputd) lower prices with higher outpute) lower prices with no change in output26. okuns law suggests that every reduction of 2 percent in gdp below potential gdp can be expected to be associated with:a)

28、a 1 percent reduction in unemploymentb) a 1 percent increase in inflationc) an increase in unemployment of 1 percentage pointd) a reduction in inflation of 1 percentage pointe) none of the above27. structural unemployment is defined as:a) incessant movement of people between regions and jobs or thor

29、ough different stages of the life cycleb) a mismatch between the supply of and the demand for workersc) when the overall demand for labor is lowd) when people are not looking for worke) none of the above28. at the nonaccelerating inflationary rate of unemployment(nairu):a) unemployment is as low as

30、it can possibly getb) the unwmployment rate is zero percent, or close to itc) inflation is stable and has no tendency to changed) structural unemployment is zero percente) all of the above29. if inflation were caused by a supply-side price shock, then:a) real gdp would necessarily increaseb) it woul

31、d be costless if the economy were operating at its full potentialc) real gdp would be expected to falld) it could be accelerated by a secondary reduction in aggregate demande) none of the above30. during a period of high inflation:a) borrowers are better off because they can pay off their loans with

32、 currency that is worth lessb) borrowers are worse off because they have to pay off their loans with currency that is worth morec) lenders are worse off because they cannot find anyone who wants a loand) lenders are worse off because they are repaid with currency that is worth moree) none of the aboveb. calculation (10%)1. assume that the federal reserve buys a $1000 government bond from ms.b, and she deposits the $1