中级宏观经济学付费版题库10经济波动导论.docx

中级宏观经济学付费版题库10经济波动导论.docx

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中级宏观经济学付费版题库10经济波动导论

Name:

__________________________Date:

_____________

1.Businesscyclesare:

A）regularandpredictable.

B）irregularbutpredictable.

C）regularbutunpredictable.

D）irregularandunpredictable.

2.Short-runfluctuationsinoutputandemploymentarecalled:

A）sectoralshifts.

B）theclassicaldichotomy.

C）businesscycles.

D）productivityslowdowns.

3.Recessionstypically,butnotalways,includeatleast______consecutivequartersofdecliningrealGDP.

A）two

B）four

C）six

D）eight

4.Overthebusinesscycle,investmentspending______consumptionspending.

A）isinverselycorrelatedwith

B）ismorevolatilethan

C）hasaboutthesamevolatilityas

D）islessvolatilethan

5.WhenGDPgrowthdeclines,investmentspendingtypically______andconsumptionspendingtypically______.

A）increases;increases

B）increases;decreases

C）decreases;decreases

D）decreases;increases

6.Okun'slawisthe______relationshipbetweenrealGDPandthe______.

A）negative;unemploymentrate

B）negative;inflationrate

C）positive;unemploymentrate

D）positive;inflationrate

7.ThestatisticalrelationshipbetweenchangesinrealGDPandchangesintheunemploymentrateiscalled:

A）thePhillipscurve.

B）theSolowresidual.

C）theFishereffect.

D）Okun'slaw.

8.TheversionofOkun'slawstudiedinChapter10assumesthatwithnochangeinunemployment,realGDPnormallygrowsby3percentoverayear.Iftheunemploymentrateroseby2percentagepointsoverayear,Okun'slawpredictsthatrealGDPwould:

A）decreaseby1percent.

B）decreaseby2percent.

C）decreaseby3percent.

D）increaseby1percent.

9.TheversionofOkun'slawstudiedinChapter10assumesthatwithnochangeinunemployment,realGDPnormallygrowsby3percentoverayear.Iftheunemploymentratefellby1percentagepointoverayear,Okun'slawpredictsthatrealGDPwould:

A）decreaseby1percent.

B）decreaseby2percent.

C）increaseby4percent.

D）increaseby5percent.

10.Long-rungrowthinrealGDPisdeterminedprimarilyby______,whileshort-runmovementsinrealGDPareassociatedwith______.

A）variationsinlabor-marketutilization;technologicalprogress

B）technologicalprogress;variationsinlabor-marketutilization

C）moneysupplygrowthrates;changesinvelocity

D）changesinvelocity;moneysupplygrowthrates

11.Leadingeconomicindicatorsare:

A）themostpopulareconomicstatistics.

B）datathatareusedtoconstructtheconsumerpriceindexandtheunemploymentrate.

C）variablesthattendtofluctuateinadvanceoftheoveralleconomy.

D）standardizedstatisticscompiledbytheNationalBureauofEconomicResearch.

12.AdeclineintheIndexofSupplierDeliveriesistypicallyanindicatorofafuture_____

ineconomicproduction,andanarrowingoftheinterestratespreadbetweenthe10-yearTreasurynoteand3-monthTreasurybillistypicallyanindicatorofafuture_____ineconomicproduction.

A）increase;slowdown

B）increase;increase

C）slowdown;increase

D）slowdown;slowdown

13.TheindexofleadingindicatorscompiledbytheConferenceBoardincludes10dataseriesthatareusedtoforecasteconomicactivityabout______inadvance.

A）onemonth

B）sixtoninemonths

C）onetotwoyears

D）fivetotenyears

14.Measuresofaverageworkweeksandofsupplierdeliveries（vendorperformance）areincludedintheindexofleadingindicators,becauseshorterworkweekstendtoindicate

______futureeconomicactivityandslowerdeliveriestendtoindicate______futureeconomicactivity.

A）stronger;stronger

B）stronger;weaker

C）weaker;stronger

D）weaker;weaker

15.Mosteconomistsbelievethatpricesare:

A）flexibleintheshortrunbutmanyarestickyinthelongrun.

B）flexibleinthelongrunbutmanyarestickyintheshortrun.

C）stickyinboththeshortandlongruns.

D）flexibleinboththeshortandlongruns.

16.Mosteconomistsbelievethattheclassicaldichotomy:

A）holdsapproximatelyinboththeshortrunandthelongrun.

B）holdsapproximatelyinthelongrunbutnotatallintheshortrun.

C）holdsapproximatelyintheshortrunbutnotatallinthelongrun.

D）doesnotholdevenapproximatelyineitherthelongrunortheshortrun.

17.A5percentreductioninthemoneysupplywill,accordingtomosteconomists,reduceprices5percent:

A）inboththeshortandlongruns.

B）inneithertheshortnorlongrun.

C）intheshortrunbutleadtounemploymentinthelongrun.

D）inthelongrunbutleadtounemploymentintheshortrun.

18.Monetaryneutrality,theirrelevanceofthemoneysupplyindeterminingvaluesof

_____variables,isgenerallythoughttobeapropertyoftheeconomyinthelongrun.

A）real

B）nominal

C）realandnominal

D）neitherrealnornominal

19.AlanBlinder'ssurveyoffirmsfoundthatthetypicalfirmadjustsitsprices:

A）morethanonceaweek.

B）abou