经济学原理对应练习Ch 30文档格式.doc

经济学原理对应练习Ch 30文档格式.doc

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ANS:

B PTS:

1 DIF:

1 REF:

30-1

TOP:

Inflation MSC:

Definitional

2. Overthelast70yearstheaverageannualU.S.inflationratewasabout

a. 2percent.

b. 4percent.

c. 6percent.

d. 8percent.

U.S.inflation MSC:

3. Overthelast70yearstheaverageannualU.S.inflationratewasabout

a. 2percentimplyingthatpriceshaveincreased10-fold.

b. 4percentimplyingthatpriceshaveincreased10-fold.

c. 2percentimplyingthatpriceshaveincreased16-fold.

d. 4percentimplyingthatpricesincreasedabout16-fold.

D PTS:

Inflationrate MSC:

4. Thepricelevelrisesfrom120to150.Whatwastheinflationrate?

a. 30%

b. 25%

c. 20%

d. Noneoftheaboveiscorrect.

Applicative

5. Thepricelevelrisesfrom120to126.Whatistheinflationrate?

a. 3%

b. 5%

c. 6%

6. Whenpricesarefalling,economistssaythatthereis

a. disinflation.

b. deflation.

c. acontraction.

d. aninvertedinflation.

Deflation MSC:

7. Ifthepriceindexinsomecountrywerefallingovertime,economistswouldsaythatcountryhad

8. Deflation

a. increasestheabilitytopaydebtsandraisesthevalueofmoney.

b. increasestheabilitytopaydebtsandlowersthevalueofmoney.

c. reducestheabilitytopaydebtsandraisesthevalueofmoney.

d. reducestheabilitytopaydebtsandlowersthevalueofmoney.

C PTS:

2 REF:

Interpretive

9. WhichofthefollowingstatementsaboutU.S.inflationisnotcorrect?

a. LowinflationwasviewedasatriumphofPresidentCarter'

seconomicpolicy.

b. Therewerelongperiodsinthenineteenthcenturyduringwhichpricesfell.

c. TheU.S.publichasviewedinflationofeven7percentasamajoreconomicproblem.

d. TheU.S.inflationratehasvariedovertime,butinternationaldatashowsevenmorevariation.

A PTS:

10. WhichofthefollowingconcerningthehistoryofU.S.inflationisnotcorrect?

a. Pricesroseatanaverageannualrateofabout4percentoverthelast70years.

b. Therewasabouta16-foldincreaseinthepriceleveloverthelast70years.

c. Inflationinthe1970swasbelowtheaverageoverthelast70years.

d. Duringit’shistorytheUnitedStateshasexperiencedperiodsofdeflation.

11. Whichofthefollowingiscorrect?

a. hyperinflationisaperiodofextraordinarilyhighinflation.

b. deflationisnegativeinflation,notjustadecreaseintheinflationrate.

c. duringthe1990sUSinflationaveraged2%peryear.

d. Alloftheabovearecorrect.

12. Therewashyperinflation

a. during1880-1896intheUnitedStates.

b. inpost-WorldWarIGermany.

c. duringthe1970sintheUnitedStates.

Hyperinflation MSC:

13. Theclassicaltheoryofinflation

a. isalsoknownasthequantitytheoryofmoney.

b. wasdevelopedbysomeoftheearliesteconomicthinkers.

c. isusedbymostmoderneconomiststoexplainthelong-rundeterminantsoftheinflationrate.

Classicaldichotomy MSC:

14. Thequantitytheoryofmoney

a. isafairlyrecentadditiontoeconomictheory.

b. canexplainbothmoderateinflationandhyperinflation.

c. arguesthatinflationiscausedbytoolittlemoneyintheeconomy.

Quantitytheory MSC:

15. Economistsallagreethat

a. neitherhighinflationnormoderateinflationisverycostly.

b. bothhighandmoderateinflationarequitecostly.

c. highinflationiscostly,butdisagreeaboutthecostsofmoderateinflation.

d. moderateinflationisascostlyashighinflation.

Inflationcosts MSC:

16. Asthepriceleveldecreases,thevalueofmoney

a. increases,sopeoplewanttoholdmoreofit.

b. increases,sopeoplewanttoholdlessofit.

c. decreases,sop