英文版宏观经济学期末考试试卷(附答案)Word文档格式.doc

英文版宏观经济学期末考试试卷(附答案)Word文档格式.doc

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2．ThepriceofCDplayersincreasesdramatically,causinga1percentincreaseintheCPI.ThepriceincreasewillmostlikelycausetheGDPdeflatortoincreaseby

a. morethan1percent.

b. lessthan1percent.

c. 1percent.

d. Itisimpossibletomakeaninformedguesswithoutmoreinformation.

3．IfincreasesinthepricesofU.S.medicalcarecausetheCPItoincreaseby2percent,theGDPdeflatorwilllikelyincreaseby

a. morethan2percent.

b. 2percent.

c. lessthan2percent.

d. Alloftheabovearecorrect.

4．Thetraditionalviewoftheproductionprocessisthatcapitalissubjectto

a. constantreturns.

b. increasingreturns.

c. diminishingreturns.

d. diminishingreturnsforlowlevelsofcapital,andincreasingreturnsforhighlevelsofcapital.

5．Whichofthefollowingiscorrect?

a. Politicalinstabilitycanreduceforeigninvestment,reducinggrowth.

b. Gary'

sBeckerproposaltopaymothersindevelopingcountriestokeeptheirchildreninschoolhasnotworkedverywellinpractice.

c. Policiesdesignedtopreventimportsfromothercountriesgenerallyincreaseeconomicgrowth.

6．Usethefollowingtabletoanswerthefollowingquestion.

Stock

Sym

Yld%

PE

Vol100s

Hi

Lo

Close

NetChg

GenMills

GIS

2.5

35

13758

44.3

43.5

43.97

-0.63

Gillette

G

2.2

31

30428

31.1

29.7

30

0.17

Graco

GGG

1.2

16

705

24.2

23.1

23.95

-0.53

Hershey

HSY

2.1

38

5418

63.4

61.7

62.45

0.72

Assumethattheclosingpricewasalsotheaveragepriceatwhicheachstocktransactiontookplace.WhatwasthetotaldollarvolumeofGillettestocktradedthatday?

a. $912,840,000

b. $91,284,000

c. $9,128,400

d. $912,840

7．SupposethatinaclosedeconomyGDPisequalto10,000,taxesareequalto2,500Consumptionequals6,500andGovernmentexpendituresequal2,000.Whatareprivatesaving,publicsaving,andnationalsaving?

a. 1500,1000,500

b. 1000,500,1500

c. 500,1500,1000

d. Noneoftheabovearecorrect.

8．Risk-aversepeoplewillchoosedifferentassetportfoliosthanpeoplewhoarenotriskaverse.Overalongperiodoftime,wewouldexpectthat

a. everyrisk-aversepersonwillearnahigherrateofreturnthaneverynon-riskaverseperson.

b. everyrisk-aversepersonwillearnalowerrateofreturnthaneverynon-riskaverseperson.

c. theaveragerisk-aversepersonwillearnahigherrateofreturnthantheaveragenon-riskaverseperson.

d. theaveragerisk-aversepersonwillearnalowerrateofreturnthantheaveragenon-riskaverseperson.

9．Thenaturalrateofunemploymentisthe

a. unemploymentratethatwouldprevailwithzeroinflation.

b. rateassociatedwiththehighestpossiblelevelofGDP.

c. differencebetweenthelong-runandshort-rununemploymentrates.

d. amountofunemploymentthattheeconomynormallyexperiences.

10．Supposethatthereserveratiois5percentandthatabankhas$1,000indeposits.Itsrequiredreservesare

a. $5.b. $50.

c. $95.d. $950.

11．Supposeabankhas$200,000indepositsand$190,000inloans.Ithasareserveratioof

a. 5percent

b. 9.5percent

c. 10percent

d. Noneoftheaboveiscorrect.

12．Theinflationtax

a. transferswealthfromthegovernmenttohouseholds.

b. istheincreaseinincometaxesduetolackofindexation.

c. isataxoneveryonewhoholdsmoney.

13．In1898,prospectorsontheKlondikeRiverdiscoveredgold.Thisdiscoverycausedanunexpectedpricelevel

a. decreasethathelpedcreditorsattheexpenseofdebtors.

b. decreasethathelpeddebtorsattheexpenseofcreditors.

c. increasethathelpedcreditorsattheexpenseofdebtors.

d. increasethathelpeddebtorsattheexpenseofcreditors.

14．Ivan,aRussiancitizen,sellsseveralhundredcasesofcaviartoarestaurantchainintheUnitedStates.Byitself,thissale

a. increasesU.S.netexportsandhasnoeffectonRussiannetexports.

b. increasesU.S.netexportsanddecreasesRussiannetexports.

c. decreasesU.S.netexportsandhasnoeffectonRussiannetexports.

d. decreasesU.S.netexportsandincreases