宏观经济答案版

1.BasicEconomicconcepts

1.1Scarcity,choiceandopportunitycost

c

Whichofthefollowingwoulddirectlyincrease

thecapitalstockofaneconomy?

(A)Anindividualpurchasessharesofcorporate

stock.

(B)Anindividualpurchaseshigh-riskcorporate

bonds.

(C)Abusinessfirmexpandsitsproduction

facilities.

(D)Abankusescashreservestopurchaseshort-

andlong-tenngovernmentsecurities.

(E)Thegovernmentimplementsaspending

programtocoverprescriptiondrugsfor

Medicarerecipients.

习题2E

Whichofthefollowingisthemostfundamental

issuethateconomicsaddresses?

(A)Choiceofappropriatetechnology

(B)Reductionofunemployment

(C)Reductionofbudgetdeficit

(D)Promotionofprivatization

(E)Useofscarceresources

习题3A

Scarcityexistsbecause

(A)humanwantsexceedtheproductivecapacity

oftheeconomy

(B)suppliesoflandandothernaturalresources

areunlimited

(C)physicalcapitaldoesnotdepreciate

(D)populationandlaborforcegrowthare

slowing

(E)innovationcausesunemployment

1.2Productionpossibilitycurves

c

I

I

Anypointinsideaproductionpossibilities

curveis

i

(A)betterthanpointsontheproduction

possibilitiescurve

(B)allocativelyefficientbuttechnologically

inefficient

(C)associatedwithinefficientuseor

unemploymentofsomeresources

(D)associatedwithmovementsalongthe

productionpossibilitiescurve

(E)associatedwithconstantopportunitycosts

习题2kA

IfproducingeachadditionalunitofgoodX

requiredgivingupever-increasingamounts

ofgoodY,theproductionpossibilitiescurve

betweenXandYwouldbe

(A)bowedoutward

(B)bowedinward

(C)astraightline

(D)horizontal

(E)upwardsloping

习题3D

Whichofthefollowingconceptscanbeillustrated

usingtheproductionpossibilitiescurve?

I.Choice

II.Scarcity

III.Pricelevel

IV.Opportunitycost

(A)IIonly

(B)IandIIIonly

(C)IIIandIVonly

(D)I,II,andIVonly

(E)II,III.andIVonly

习题4A

Foraneconomythatisoperatinginsideits

productionpossibilitiescurve,whichofthe

followingistrue?

(A)Itcanincreasetheproductionofbothgoods.

(B)Itspopulationisgrowingfasterthanthe

economy'sabilitytoincreaseproduction.

(C)Itisusingallavailableresourcesefficiently.

(D)Itcannotmovetoapointontheproduction

possibilitiescurvewithavailable

technology.

(E)Itlackstheresourcestoincreaseproduction

beyonditscurrentoutput.

c

s

a

o

o

o

q

v

l

E

v

u

CONSUMERGOODS

Thediagramaboveshowsthreeproduction

possibilitiescurves(PPCs).IfthecurrentPPCis

PPCbwhichofthefollowingchangesindicatesa

recession?

(A)MovementfrompointXtopointY

(B)MovementfrompointYtopointX

(C)MovementfrompointYtopointZ

(D)ShiftfromPPC〔toPPC()

(E)MovementfrompointZtopointX

A

Whichofthefollowingisalwaystrueofan

economyoperatingonitsproductionpossibilities

frontier?

(A)Itsresourcesarefullyemployed.

(B)Itisallocativelyefficient.

(C)Itcannottradewithothernationsbecauseit

isthemostefficientproduceroftradeable

goods.

(D)Itwillnecessarilyoperateonthesamefron­

tierthefollowingyear.

(E)Itmustbeacominaiideconomy.

c

Whichofthefollowingwouldshiftacountry's

productionpossibilitiescurveinward?

(A)Areductioninthecountry'sinflationrate

(B)Areductioninthecountry'srealinterestrate

(C)Areductioninthesizeofthecountry'slabor

force

(D)Anincreaseinthetypicalretirementagein

thecountry

(E)Anincreaseinthecountry'scyclical

unemploymentrate

习题8c

A(

CS

II

ON-

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05812GOODX

(UNITS)

Theopportunitycostofmovingproductionfrom

pointRtopointTis

(A)oneunitofGoodY

(B)fiveunitsofGoodY

(C)sixunitsofGoodY

(D)threeunitsofGoodX

(E)sevenunitsofGoodX

习题9

Ifacountry'sproductionpossibilitiescurveis

shiftingoutward,whichofthefollowingmust

betrue?

(A)Thereiscyclicalunemployment.

(B)Thepricelevelisincreasing.

(C)Theaggregatedemandcurveisshiftingtothe

right.

(D)Thelong-runPhillipscurveisshiftingtothe

right.

(E)Thelong-runaggregatesupplycurveis

shiftingtotheright.

习题1()c

Whenaneconomyproducingtwogoodsis

operatingefficientlyandatfullemployment,

increasingtheproductionofonegoodwill

resultin

(A)aninwardshiftofthepixxiuctionpossibilities

curve

(B)anoutwardshiftoftheproduction

possibilitiescurve

(C)adecreaseintheamountoftheothergood

thatcanbeproduced

(D)anincreaseinthecostsofbothgoods

(E)anincreaseintheamountofresources

available

D

Aproductionpossibilitiescurvethatisconcaveto

theorigin(bowedout)impliesthatasmoreofa

goodisproduced,theopportunitycost

A

/Bremainsconstant

VI

cdecreases

{/

Ddecreasesatfirstandthenincreases

/Eincreases

.{increasesatfirstandthendecreases

1.3Comparativeadvantage,absolute

advantages,specialisation

andtrade

SupposecountriesAlphaniaandBetaniaproduce

electronicsandapparelusingidenticalresources.

WhichofthefollowingistrueifAlphaniaexports

electronicstoandimportsapparelfromBetania

withinafree-tradesystem?

(A)Theopportunitycostofproducingelectronics

ishigherinAlphaniathaninBetania.

(B)Betaniahasacomparativeadvantagein

producingapparel,andAlphaniahas

acomparativeadvantageinproducing

electronics.

(C)Alphaniamustbespecializinginapparel,

whileBetaniaisspecializinginelectronics.

(D)WorkersinAlphaniacanproducemore

apparelperhourthanworkersinBetania.

(E)ConsumersinBetaniabuymoreelectronics

thanconsumersinAlphania.

1.4Demand,supplyandmarket

equilibrium

c

Ifone-fourthofanation'swheatcropisdestroyed

byafloodinagivenseason,thenthepriceof

wheatandthequantitysoldwillchangeinthe

shortruninwhichofthefollowingways?

PriceQuantitySold

(A)DecreaseNochange

(B)DecreaseIncrease

(C)IncreaseDecrease

(D)IncreaseIncrease

(E)NochangeIncrease

习题2c

Iftheproductiontechnologyofagoodimproves

andatthesametimethenumberofconsumers

willingandabletobuythegoodinthemarket

increases,whichofthefollowingwilldefinitely

occur?

(A)Equilibriumpricewillincrease.

(B)Equilibriumpricewilldecrease.

(C)Equilibriumquantitywillincrease.

(D)Equilibriumquantitywilldecrease.

(E)Equilibriumquantitywillremainthesame.

习题3、

1c

i

iAsimultaneousincreaseinboththedemandfor

iandthesupplyofagoodinamarketwillleadto

i

iwhichofthefollowingchangesintheequilibrium

i

ipriceandquantityofthegood?

1

i

iPriceOuanlily

1

1(A)IncreaseIncrease

1(B)IndeterminateDecrease

1

1(C)IndeterminateIncrease

1

1(D)IncreaseIndeterminate

1

1(E)DecreaseIncrease

1

c

।

।

।QuantityQuantity

।

।DemandedSupplied

1

1Price(Bushels)(Bushels)

1

1$2.0010,00040,000

1

1$1.7515,00035,000

1

1$1.5020JXX)20JXX)

1

1$1.2525,00015,000

1

1$1.0030,00010,(XX)

1

1$0.7535,0005,000

Thetableaboveshowsthequantitydemandedand

quantitysuppliedforbushelsofwheatatvarious

prices.Whichofthefollowingcombinationsis

theequilibriumpriceandquantityforwheat?

PriceBushelsofWheat

(A)$2.0010,000

(B)$1.7515,000

(C)$1.5020,000

(D)SI.2530,00()

(E)$0.755,000

D

习题5

Thegraphaboveshowsthedemandforand

supplyofagood.IfthemarketpriceisPhthen

(A)thereisashortage,andthepricewillrise

(B)thereisashortage,andthepricewillfall

(C)thereisasurplus,andthepricewillrise

(D)thereisasurplus,andthepricewillfall

(E)demandwilldecreaseandsupplywill

increase

E

Inthecoffeemarket,whichofthefollowing

changeswillincreasethepriceanddecreasethe

quantityofcoffee?

SuDDlyDemand

(A)IncreaseIncrease

(B)IncreaseDecrease

(C)DecreaseIncrease

(D)NochangeIncrease

(E)DecreaseNochange

1.5Macroeconomicissues:business

cycle,unemployment,inflation,

growth

c

Whichofthefollowingdescribesatypical

businesscycleinthecorrectsequence?

(A)Peak,trough,recession,andexpansion

(B)Peak,trough,expansion,andrecession

(C)Peak,recession,trough,andexpansion

(D)Peak,recession,expansion,andtrough

(E)Peak,expansion,trough,andrecession

B

Whichofthefollowingnecessarilyoccursduring

aneconomicrecession?

(A)Cost-pushinflationdecreases.

(B)Realgrossdomesticproductdecreases.

(C)Cyclicalunemploymentdecreases.

(D)Demand-pullinflationincreases.

(E)Nominalwagesincrease.

Economicgrowthisbestmeasuredbyasustained

increaseinwhichofthefollowing?

(A)Percapitarealgrossdomesticproduct

(B)Governmentbudgetdeficits

(C)Unemploymentinunskilledlabormarkets

(D)Productionofpublicgoods

(E)Nominalgrossdomesticproduct

习题4B

Asanindicatorofanimpendingrecession,

inventorieswillmostlikely

(A)decreaseasaresultofadecreasein

consumption

(B)increaseasaresultofadecreasein

consumption

(C)increaseasaresultofadecreaseinaggregate

supply

(D)decreaseasaresultofanincreasein

aggregatesupply

(E)remainconstantasaresultofeconomic

uncertainty

2.Measurementofeconomic

performance

2.1Nationalincomeaccounts

B

Anincreaseinwhichofthefollowingwouldmost

likelycausethegrossdomesticproductofa

countrytodecreaseintheshortrun?

(A)Governmentspending

(B)Imports

(C)Moneysupply

(D)Consumptionspendingbyhouseholds

(E)Investmentspendingbydomesticfirms

c

Thevalueofwhichofthefollowingwouldbe

includedintheUnitedStatesgrossdomestic

product?

(A)Timespentvolunteeringatalocalhospital

(B)AUnitedStatessavingsbondreceivedasa

birthdaygift

(C)Amovieticketpurchasedatalocaltheater

(D)AnewhandbagmadeinItalybya

UnitedStatesfirm

(E)Ausedcarsoldatthesamepricepaidforit

习题3D

RealGrossNominalGross

PeriodDomesticProductDomesticProduct

Year1$100billion$70billion

Year2$120billion$120billion

Year3$130billion$150billion

Whichofthefollowingcanbeconcludedfromthe

dataabove?

(A)Thebaseyearforthepriceindexwasyear1.

(B)Thebaseyearforthepriceindexwasyear3.

(C)Theeconomywasproducinghigher-quality

goodsandservicesinyears2and3thanin

year1.

(D)Theeconomywasexperiencinginflation

duringyears2and3.

(E)Theeconomywasexperiencingdeflation

duringyears1,2,and3.

习题4

Whichofthefollowingrepresentsaleakagefrom

thecircularflowinaneconomy?

(A)Consumptionspending

(B)Governmentspending

(C)Investmentspending

(D)Unemploymentbenefits

(E)Imports

习题5c

Inthecircularflowdiagramofamarketeconomy,

whichofthefollowingsuppliesthefactors

ofproduction?

(A)Thebusinesssector

(B)Thegovernment

(C)Thehouseholdsector

(D)Financialsector

(E)Theforeignsector

习题6kD

Increasesintherealpercapitaincomeof

acountryaremostcloselyassociatedwith

increasesinwhichofthefollowing?

(A)Thelaborforce

(B)Thepricelevel

(C)Themoneysupply

(D)Productivity

(E)Taxrates

E

।

।

Acountry'srealgrossdomesticproductisthe

annualvalueofallfinalgoodsandservices

thatare

(A)purchasedinthatcountry,adjustedfor

changesinthepricelevel

(B)producedinthatcountry,expressed

incurrentprices

(C)producedinthatcountry,lessexports

(D)producedinthatcountry,lessdepreciation

(E)producedinthatcountry,adjustedfor

changesinthepricelevel

Ashort-runincreaseinnationalincomecouldbe

causedbyadecreaseinwhichofthefollowing?

i

(A)Consumption

(B)Investment

(C)Imports

(D)Governmentspending

(E)Exports

Supposethatinaparticularcountry,nominal

grossdomesticproduct(GDP)grewby8percent,

andtheGDPdeflatorincreasedby10percent.

Thecountry'sgrowthrateofrealGDPwouldbe

approximatelyequalto

(A)-2%

(B)-0.8%

(C)0.8%

(D)2%

(E)18%

习题B

Thecircular-flowmodelindicatesthatfinalgoods

areproducedby

(A)firmsandsoldinthefactormarkets

(B)firmsandsoldintheproductmarkets

(C)firmsandsoldintheresourcemarkets

(D)householdsandsoldinthefactormarkets

(E)householdsandsoldintheproductmarkets

Thetablebelowshowsacountry's

macroeconomicdatain2013.

Consumptionspending$175billion

Individualincometaxes$32billion

Privateinvestment$30billion

spending

Corporatetaxes$25billion

Exports$75billion

Governmentpurchases$40billion

Imports$100billion

Thecountry'sgrossdomesticproductis

(A)$220billion

(B)S282billion

(C)$304billion

(D)$309billion

(E)$347billion

习题12

Grossprivatedomesticinvestmentincludeswhich

ofthefollowing?

(A)Changesinbusinessinventories

(B)Nationaldefensespending

(C)Newdurablegoodspurchasedbyhouseholds

(D)Transferpayments

(E)Depreciationofgovernmentgoods

A

Grossprivatedomesticinvestmentincludeswhich

ofthefollowing?

(A)Changesinbusinessinventories

(B)Nationaldefensespending

(C)Newdurablegoodspurchasedbyhouseholds

(D)Transferpayments

(E)Depreciationofgovernmentgocxis

习题14D

In2007,thenominalgrossdomesticproduct

(GDP)was$50billionandtheGDPdeflator

was200.ThusrealGDPwas

(A)$150billion

(B)$100billion

(C)$50billion

(D)$25billion

(E)$4billion

D

YearNominalGDPGDPDeflator

1980$14.00070

1990$18,00010()

2000$22,000220

2010$50,000200

2015$60,0(X)300

Accordingtothedataabove,inwhichyearwas

realgrossdomesticproduct(GDP)thelargest?

(A)1980

(B)1990

(C)2000

(D)2010

(E)2015

习题16

Anincreaseininventorieswillincreasewhich

componentofgrossdomesticproduct?

(A)Personalconsumptionexpenditures

(B)Investmentexpenditures

(C)Governmentpurchases

(D)Exports

(E)Imports

E

Allofthefollowingmayresultinincreasesinreal

grossdomesticproductinthelongrunEXCEPT

(A)technicalprogress

(B)investmentinhumancapital

(C)discoveryofnewnaturalresources

(D)decreaseincorporatetaxes

(E)decreaseinfactorproductivity

c

Assumethatanation'srealgrossdomestic

product(GDP)growsatahigherratethanits

populationoveragivenperiodoftime.Itcan

beconcludedthat

(A)thepopulationwillgrowatafasterrateinthe

future

(B)thepricelevelhasdecreased

(C)realGDPpercapitahasincreased

(D)realGDPwillriseataslowerrateinthe

future

(E)realGDPwillriseatafasterrateinthefuture

习题19

Adecreaseintaxeswillnecessarilyresultinan

increaseinwhichofthefollowing?

(A)Nominalgrossdomesticproduct

(B)Unemployment

(C)Exports

(D)Marginalpropensitytosave

(E)Moneysupply

2.2Inflationmeasurementand

adjustment

I

I

Theconsumerpriceindex(CPI)measuresthe

(A)valueofcurrentgrossdomesticproductin

base-yeardollars

(B)pricesofallconsumergoodsandservices

producedintheeconomy

(C)pricesofselectedrawmaterialspurchased

byfirms

(D)pricesofaspecificgroupofgoodsand

servicespurchasedbyconsumers

(E)pricesofimports,butnotexports

B

।

Lastyearbothaborrowerandalenderexpected

aninflationrateof3percentwhentheysigneda

long-termloanagreementwithfixednominal

interestratesof5percent.Iftheactualinflation

ratewerelowerthanexpected,thenwhichofthe

followingwouldbetrue?

i

(A)Theborrowerwouldbenefit.

(B)Thelenderwouldbenefit.

(C)Therealinterestratewouldbelower

thanexpected.

(D)Thenominalinterestratewouldbe

higherthanexpected.

(E)Thenominalinterestratewouldincrease.

i

i

i

Whichofthefollowingisacauseof

hyperinflation?

i

(A)Rapidgrowthofrealgrossdomesticproduct

(B)Rapidgrowthofthemoneysupply

(C)Unanticipateddecreaseinaggregatedemand

(D)Unanticipatedincreaseinaggregatesupply

(E)Unanticipatedriseinrealinterestrates

习题4B

Inflationoccurswhenthereisasustainedincrease

inwhichofthefollowing?

(A)Realgrossdomesticproduct

(B)Theaveragepricelevel

(C)Thepriceofanycommodity

(D)Laborproductivity

(E)Theunemploymentrate

Tlicconsumerpriceindex(CPI)iscriticizedfor

(A)overstatingthetrueburdenofinflation

becauseitdoesnotrecognizeconsumers?

abilitytosubstitutegoodsandservicesas

priceschange

(B)overstatingthetrueburdenofinflation

becauseitrecognizesconsumers*abilityto

substitutegoodsandservicesasprices

change

(C)understatingthetrueburdenofinflation

becauseitdoesnotrecognizeconsumers*

abilitytosubstitutegoodsandservicesas

priceschange

(D)understatingthetrueburdenofinflation

becauseitrecognizesconsumers'abilityto

substitutegoodsandservicesasprices

change

(E)overstatingthetrueburdenofintlation

becauseitreflectsthepricesofboth

intermediategoodsandfinalgoods

Publicpolicythatgeneratesanunexpectedincrease

inconsumerpriceswillinflictshort-runcostson

allofthefollowingEXCEPT

(A)borrowers

(B)workerswithfixedincomes

(C)saversholdingnon-interest-bearingmoney

(D)taxpayersshiftedintohighertaxbrackets

(E)peoplewhoseincomesarenotadjustedfor

inflation

习题7

ANNUALCONSUMERPRICEINDEX(CPI)

YearCPI

192920

1984100

1995120

Thetableaboveshowstheconsumerprice

indexforselectedyears.Onthebasisofthese

data,howmuchdiditcostin1995tobuythe

samegoodsandservicesthatcostS50in1929?

zA

(

\B$25

$100

zc\

f

\7S125

/D\

t

v7$250

/E

<

\S300

习题8D

Therealinterestrateearnedisthe

(A)sameasthenominalinterestratewhen

inflationismoderate

(B)costofborrowingincurrentconsumerprices

(C)costofborrowingincurrentprcxlucerprices

(D)costofborrowingadjustedfortherateof

changeinthepricelevel

(E)nominalinterestrateadjustedforthegrowth

rateoftheeconomy

习题9

Whenpurchasingherhouse,Ms.Jonestook

outa15-yearmortgageloanfromalocalbank

atafixedinterestrateof7percent.Therateof

expectedinflationatthetimewas3percent.Ifthe

actualrateofinflationwas4.5percent,whichof

thefollowingistrue?

(A)Thebankgainedbecausetherealrateof

interestincreasedby1.5%.

(B)Thebankgainedbecausetherealrateof

interestbecame3.5%.

(C)Thebanklostbecausetherealrateofinterest

decreasedby1.5%.

(D)Ms.Jonesgainedbecausethenominalrateof

interestincreasedby1.5%.

(E)Ms.Joneslostbecauseth