课件老师宏观exercises

1、A countrys rate of economic growth is determined solely by the amount of resources available to the country. Comment on this statement.There is always a clear tradeoff between unemployment and inflation. Comment.3. True or false? Why? Using the consumer price index or the GDP-deflator to calculate c

2、hanges in the average price level should produce identical inflation rates.“4. True or False? Why? The PPI measures the cost of buying a fixed bundle of consumer goods.“5. Comment on the following statement: “A country that spends more than its total national e must have a trade deficit.”True or fal

3、se? Why? The neoclassical growth model predicts that a decrease in the savings rate permanently affects the growth rate of real output.“ Comment on the following statement:The Solow growth model predicts that a country with a low savings rate can eventually achieve the same living standard as a coun

4、try with a high savings rate as long as both countries have the same rate of population growth and access to the same technology. In the classical aggregate supply curve model, the economy is always at the full-employment level of output and the unemployment rate is always zero. Comment on this stat

5、ement. The real impact of demand management policy is largely determined by the flexibility of wages and prices. Comment on this statement.10. Comment on the following statement:An increase in the e tax rate will not affect the level of output or prices in the long run. 11. If nominal money supply i

6、s increased over time, how will the level of output and prices behave in the long run?12. Assume the economy is in a recession. Describe an adjustment process that will ensure that the economy will return to full employment. How can the government speed up this process? Inflation cannot accelerate i

7、n a recession, when the rate of unemployment is above its natural rate. Comment on this statement.15. If everyone had rational expectations, then nominal wages would be flexible and high unemployment could not occur. Comment on this statement.16. In Japan, a large part of a workers annual salary com

8、es in the form of bonuses. In your opinion, what are the implications of this for the unemployment rate in Japan? 17. What kinds of policies would you suggest to reduce the natural rate of unemployment?18. Distinguish between frictional, structural, search, seasonal, and cyclical unemployment. 19. A

9、ssume a simple model of the expenditure sector with a positive e tax rate (t). Show mathematically how an increase in lump sum taxes (TAo ) would affect the budget surplus.20. True or false? Why? A tax cut will increase national e and will therefore always decrease the budget deficit.“21. Which of t

10、he following statements is FALSE? A)investment is the primary link through which monetary policy affects the economy B)faster growing countries often invest a larger share of GDP C)inventory and residential investment are relatively volatile but business fixed investment tends to be a fairly constan

11、t fraction of GDP D)financial investment (buying stocks) is not part of real investment E)the swings in investment are proportionally greater than the swings in total output 22. Assume a Cobb-Douglas production function in which the share of capital is a = 1/4 and the share of labor is b = 3/4. In t

12、his case, the marginal product of capital is A)Y/3K B)3Y/4K C)Y/4K D)3Y/K E)1/4 23. Assume a Cobb-Douglas production function in which the share of capital is a = 0.25 and the share of labor is b = 0.75. If the rental cost of capital is rc = 10%, the desired capital stock of a cost-minimizing firm s

13、hould be equal to A)K* = 0.25Y B)K* = 0.75Y C)K* = 2.5Y D)K* = 3.0Y E)K* = 7.5Y 24. The rental cost of capital will fall if A)the expected rate of inflation decreases B)the rate of depreciation increases C)nominal interest rates increase more than the expected rate of inflation D)all of the above E)

14、none of the above 25. The life-cycle theory of consumption implies that A)the mpc out of wealth is very small B)there are different mpcs, that is, out of permanent e, out of transitory e, and out of wealth C)a large change in stock values can affect the economy, but the effect is fairly small D)an i

15、ndividuals mpc out of permanent e changes with age E)all of the above 26. According to the e theory of consumption, a person whose e fluctuates widely from year to year will have A)a higher apc in high- e years than in low- e years B)a lower apc in high- e years than in low- e years C)a consistently

16、 high apc year after year D)a consistently low apc year after year E)an apc that is equal to 1 27. Assume you unexpectedly inherit $20,000. Which of the following fits the life-cycle or e theory of consumption? A)you buy yourself some blue chip stocks B)you pay back part of your student loan C)you s

17、pend $300 on some new clothes and use the rest to buy a T-bill D)you deposit $1,000 in your checking account and $19,000 in your savings account E)all of the above 28. If money supply is held constant, a cut in government transfer payments will eventually cause interest rates to A)decline, enhancing

18、 the expansionary impact of the policy B)decline, decreasing the restrictive impact of the policy C)increase, decreasing the expansionary impact of the policy D)increase, decreasing the restrictive impact of the policy E)increase, enhancing the restrictive impact of the policy 29. Monetary policy es more effective as A)the marginal propensity to save increases B)the interest sensitivity of money demand increases C)the interest sensitivity of investment decreases D)the e tax rate decreases E)none of the