08宏观经济学(曼昆-第6版-配套习题.doc

08宏观经济学(曼昆-第6版-配套习题.doc

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Chapter08/MoneyGrowthandInflationF481

Chapter8

MoneyGrowthandInflation

MULTIPLECHOICE

1. Inflationcanbemeasuredbythe

a. changeintheconsumerpriceindex.

b. percentagechangeintheconsumerpriceindex.

c. percentagechangeinthepriceofaspecificcommodity.

d. changeinthepriceofaspecificcommodity.

ANSWER:

b. percentagechangeintheconsumerpriceindex.

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2. Overthelast60yearstheaverageannualU.S.inflationratewasabout

a. 2percent.

b. 3percent.

c. 5percent.

d. 7percent.

ANSWER:

c. 5percent.

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3. Overthelast60yearstheaverageannualU.S.inflationratewasabout

a. 3percentimplyingthatpriceshaveincreased12-fold.

b. 5percentimplyingthatpriceshaveincreased12-fold

c. 3percentimplyingthatpriceshaveincreased18-fold.

d. 5percentimplyingthatpricesincreasedabout18-fold.

ANSWER:

d. 5percentimplyingthatpricesincreasedabout18-fold.

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4. Whenpricesarefalling,economistssaythatthereis

a. disinflation.

b. deflation.

c. acontraction.

d. aninvertedinflation.

ANSWER:

b. deflation.

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5. WhichofthefollowingstatementsaboutU.S.inflationisfalse?

a. LowinflationwasviewedasatriumphofPresidentCarter'seconomicpolicy.

b. Therewerelongperiodsinthenineteenthcenturyduringwhichpricesfell.

c. TheU.S.publichasviewedinflationofeven7percentasamajoreconomicproblem.

d. TheU.S.inflationratehasvariedovertime,butinternationaldatashowsevenmorevariation.

ANSWER:

a. LowinflationwasviewedasatriumphofPresidentCarter'seconomicpolicy.

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6. WhichofthefollowingconcerningthehistoryofU.S.inflationisfalse?

a. Pricesroseatanaverageannualrateofabout5percentoverthelast60years.

b. Therewasaboutan18-foldincreaseinthepriceleveloverthelast60years.

c. Inflationinthe1970swasbelowtheaverageoverthelast60years.

d. TheUnitedStateshasexperiencedperiodsofdeflation.

ANSWER:

c. Inflationinthe1970swasbelowtheaverageoverthelast60years.

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7. Therewashyperinflation

a. during1880–1896intheUnitedStates.

b. inpost–WorldWarIGermany.

c. duringthe1970sintheUnitedStates.

d. Alloftheabovearecorrect.

ANSWER:

b. inpost–WorldWarIGermany.

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8. Whichofthefollowingeventsinpost–WorldWarIGermanylikelycontributedtotheriseofNazismandWorldWarII?

a. deflationthatproveddetrimentaltofarmers

b. anaversiontoinflationbypolicymakersthatkeptwagesstagnant

c. anunexpecteddropininflationthathurtborrowers

d. anextraordinarilyhighrateofinflation

ANSWER:

d. anextraordinarilyhighrateofinflation

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9. Theclassicaltheoryofinflation

a. isalsoknownasthequantitytheoryofmoney.

b. wasdevelopedbysomeoftheearliesteconomicthinkers.

c. isusedbymostmoderneconomiststoexplainthelong-rundeterminantsoftheinflationrate.

d. Alloftheabovearecorrect.

ANSWER:

d. Alloftheabovearecorrect.

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10. Thequantitytheoryofmoney

a. isafairlyrecentadditiontoeconomictheory.

b. canexplainbothmoderateandhyperinflations.

c. arguesthatinflationiscausedbytoolittlemoneyintheeconomy.

d. Alloftheabovearecorrect.

ANSWER:

b. canexplainbothmoderateandhyperinflations.

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11. Economistsallagreethat

a. neitherhighinflationnormoderateinflationisverycostly.

b. bothhighandmoderateinflationarequitecostly.

c. highinflationiscostly,butdisagreeaboutthecostsofmoderateinflation.

d. moderateinflationisascostlyashighinflation.

ANSWER:

c. highinflationiscostly,butdisagreeaboutthecostsofmoderateinflation.

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12. Whenthepricelevelfalls,thenumberofdollarsneededtobuyarepresentativebasketofgoods

a. increases,sothevalueofmoneyrises.

b. increases,sothevalueofmoneyfalls.

c. decreases,sothevalueofmoneyrises.

d. decreases,sothevalueofmoneyfalls.

ANSWER:

c. decreases,sothevalueofmoneyrises.

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13. Whenthevalueofmoneyrises,thenumberofdollarsneededtobuyarepresentativebasketofgoods

a. increases,andsothepricelevelrises.

b. increases,andsothepricelevelfalls.

c. decreases,andsothepricelevelrises.

d. decreases,andsothepricelevelfalls.

ANSWER:

d. decreases,andsothepricelevelfalls.

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14. Whenthenumberofdollarsneededtobuyarepresentativebasketofgoodsfalls,thevalueofmoney

a. ris