moneyandbanktestbankchap24Word格式文档下载.docx

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D

QuesStatus:

PreviousEdition

2）Theeconomistwhoproposedthat,"

Inflationisalwaysandeverywhereamonetaryphenomenon"

was

A）JohnMaynardKeynes.

B）JohnR.Hicks.

C）MiltonFriedman.

D）FrancoModigliani.

C

3）CompleteMiltonFriedman'

sfamousproposition:

"

Inflationisalwaysandeverywherea

phenomenon."

A）monetary

B）political

C）policy

D）budgetaryAnswer:

A

4）Atfirstcut,thesimplesolutiontofightinginflationis

A）reducingthegrowthrateofthemoneysupply.

B）limitingthenumberoftermsthatpoliticianscanserveinelectiveoffice.

C）returningtheeconomytobarterbyprohibitingtheuseoffiatmoney.

D）toimposepricecontrolsonbusinessesthatattempttoraiseprices.Answer:

5）"

Howdowepreventtheinflationaryfirefromignitingagainandstoptherollercoasterrideintheinflationrateofthelast40years?

"

MiltonFriedman'

sfamouspropositionsuggeststhesimplesolution:

A）reducethenumberoftermsthatpoliticiansareallowedtoserve.

B）reducethegrowthrateofthemoneysupply.

C）reducethemarginaltaxrateonlow-incomewageearners.

D）increasethemarginaltaxratesonbusinessesthathikepricesinexcessof5percentperyear.Answer:

B

16

6）MiltonFriedman'

spropositionconcerningthecauseofinflationimpliesasimplesolutiontotheinflationproblem:

A）reducegovernmentbudgetdeficits.

B）limittheabilityoffiscalpolicymakerstobringpressuretobearonthemonetaryauthority.

C）limitthenumberoftermsthatpoliticiansareallowedtoserve.

D）reducethegrowthrateofthemoneysupply.Answer:

7）MiltonFriedman'

spropositionthatinflationisalwaysandeverywhereamonetaryphenomenonholdsonlyif

A）governmentbudgetdeficitsdonotrisecontinually.

B）theunemploymentratedoesnotrisecontinually.

C）thepricelevelrisescontinually.

D）theUnitedStatesdoesnotexperiencemorethanonenegativesupplyshockperdecade.Answer:

8）Inflationoccurswhenever

A）thepricelevelrises.

B）themoneysupplyincreases.

C）thepricelevelrisescontinuouslyoveraperiodoftime.

D）thepricelevelfallscontinuouslyoveraperiodoftime.Answer:

9）Evidencestronglysupportstheviewthatcountrieswithhighinflationalsohave

A）thelowestnominalinterestrates.

B）thehighestratesofmoneygrowth.

C）thesmallestbudgetdeficits.

D）thelowestinterestrates.Answer:

10）Countrieswiththehighestinflationratesarelikelytohave

A）thehighestratesofmoneygrowth.

B）smallbudgetdeficitsrelativetoGDP.

C）thelowestinterestrates.

D）nonaccommodatingmonetarypolicy.Answer:

11）Thepropositionthatinflationistheresultofahighrateofmoneygrowthis

A）notsupportedbyevidencefromtheGermanhyperinflation.

B）heldonlybysociologistsandisnolongerbelievedbyeconomists.

C）supportedbyevidencefrominflationaryepisodesthroughouttheworld.

D）largelyapoliticalfabricationdesignedtomaketheFedascapegoatforpoorfiscalpolicy.Answer:

PreviousEdition

12）Whichofthefollowingwouldprovidethestrongestevidencethatrapidmoneygrowthisthedrivingforcebehindinflation?

A）Anendogenousincreaseinthemoneysupplythatprecededtheonsetofinflation.

B）Anexogenousincreaseinthemoneysupplythatprecededtheonsetofinflation.

C）Anendogenousincreaseinthemoneysupplythatlaggedtheonsetofinflation.

D）Anexogenousincreaseinthemoneysupplythatlaggedtheonsetofinflation.Answer:

13）TheZimbabweanhyperinflationof2008supportsthepropositionthatexcessivemonetarygrowthcausesinflationandnottheotherwayaroundsincetheincreaseinmonetarygrowthappearstohavebeen

A）unintentional.

B）intentional.

C）endogenous.

D）exogenous.

Revised

14）TheGermanhyperinflationof1921-1923providesimportantsupportfortheviewthathighmoneygrowthresultswhen

A）thegovernmentsetsanemploymenttargetthatistoohigh.

B）thegovernmentexpandsthemoneysupplytofinanceitsexpenditures.

C）thegovernmentraisestaxestofinanceitsexpenditures.

D）thegovernmentsellsbondstothepublic.Answer:

24.2MeaningofInflation

1）Aone-timeincreaseinthepricelevel

A）israre