米什金 货币金融学 英文版习题答案chapter 21英文习题Word文档下载推荐.docx

米什金 货币金融学 英文版习题答案chapter 21英文习题Word文档下载推荐.docx

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C）thehighunemploymentinGreatBritainbeforeWorldWarI.

D）thehighunemploymentinGreatBritainafterWorldWarII.

B

3）Keyneswasespeciallyinterestedinexplainingmovementsof________becausehewantedtoexplainwhytheGreatDepressionhadoccurredandhowgovernmentpolicycouldbeusedtoincrease________inasimilareconomicsituation.

A）aggregateoutput;

wages

B）aggregateoutput;

employment

C）wagerates;

D）wagerates;

4）Keyneswasespeciallyconcernedwithexplainingthe

A）recessionof1920-21.

B）lowlevelsofoutputandemploymentduringtheGreatDepression.

C）strongeconomicgrowthofthe1920s.

D）highunemploymentinGreatBritainduringthe1920s.

5）Keyneswasespeciallyconcernedwithexplainingthe________levelofoutputandemploymentduringthe________.

A）low;

1920s

B）low;

1930s

C）high;

D）high;

6）InthesimpleKeynesianmodel,equilibriumaggregateoutputisdeterminedby

A）aggregatedemand.

B）aggregatesupply.

C）thenationaldemandforlabor.

D）thepricelevel.

7）UnderKeynesiananalysis,aggregatedemandcanbewrittenas

A）Yad=C+I+G+NX.

B）Yad=C+I+G-NX.

C）Yad=C-I-G-NX.

D）Yad=C+I-G-NX.

21.2TheComponentsofAggregateDemand

1）Keynesreasonedthatconsumerexpenditureismostcloselyrelatedto

A）thelevelofinterestrates.

B）thepricelevel.

C）disposableincome.

D）themarginaltaxrate.

C

2）IntheKeynesianmodelofincomedetermination,consumerexpenditureincludesspendingby

A）consumersonpersonalcomputers.

B）businessesonpersonalcomputers.

C）governmentsonpersonalcomputers.

D）foreignersondomesticpersonalcomputers.

3）Themarginalpropensitytoconsume（mpc）canbedefinedasthefractionof

A）achangeinincomethatisspent.

B）achangeinincomethatissaved.

C）incomethatisspent.

D）incomethatissaved.

4）IftheconsumptionfunctionisexpressedasC=a+mpc×

YD,then"

mpc"

represents

A）autonomousconsumerexpenditure.

B）themarginalpropensitytoconsume.

C）theexpendituremultiplier.

D）disposableincome.

5）IftheconsumptionfunctionisexpressedasC=a+mpc×

a"

6）IftheconsumptionfunctionisC=20+0.5YD,thenanincreaseindisposableincomeby$100willresultinanincreaseinconsumerexpenditureby

A）$25.

B）$70.

C）$50.

D）$100.

AnalyticalThinking

7）IftheconsumptionfunctionisC=20+0.8YD,thenanincreaseindisposableincomeby$100willresultinanincreaseinconsumerexpenditureby

A）$58.

B）$64.

C）$80.

8）Assumethatautonomousconsumptionequals$200andthatthempcequals0.8.Ifdisposableincomeequals$1000,thentotalconsumptionequals

A）$80.

B）$200.

C）$800.

D）$1000.

D

9）Assumethatautonomousconsumptionequals$200anddisposableincomeequals$1000.Iftotalconsumptionequal$800,thenthempcequals

A）0.2.

B）0.6.

C）0.8.

D）1.0.

10）Assumethatdisposableincomeequals$1000andthempcequals0.6.Iftotalconsumptionequal$800,thenautonomousconsumptionisequalto

A）$0.

11）Everythingelseheldconstant,iftotalconsumptionincreasesfrom$600to$800becauseofanincreaseofdisposableincomeof$400,thenthempcisequalto

B）0.4.

C）0.5.

D）0.6.

12）Everythingelseheldconstant,ifconsumptionexpenditureincreasesby65fora100increaseindisposableincome,thempcis

A）0.

B）0.5.

C）0.65.

D）1.

13）Everythingelseheldconstant,ifdisposableincomeincreasesby200andconsumptionexpenditureincreasesby150,thempcis

B）0.15.

D）0.75.

14）Everythingelseheldconstant,ifconsumptionexpenditurefallsby160whendisposableincomefallsby200,thempcis

B）0.2.

C）0.4.

D）0.8.

15）Economistsdefineinvestmentasthepurchaseof

A）anewphysicalassetsuchasanewmachineoranewhouse.

B）anyphysicalasset,whethernewornot,usedbybusinesstoincreaseproduction.

C）anyphysicalassetusedbybusinesstoincreaseproductionandtherepurchaseofcommonstock.

D）businessspendingoncapitalandhouseholdspendingondurablegoods.

16）Plannedinvestmentspending,acomponentofaggregatedemand,isequalto

A）fixedinvestmentplusactualinventoryinvestment.

B）fixedinvestmentplusunplannedinventoryinvestment.

C）fixedinvestment.

D）fixedinvestmentplusplannedinventoryinvestment.

17）Therearetwotypesofinvestment:

________investment—thespendingbybusinessfirmsonequipmentandstructures,andplannedspendingonresidentialhouses—and________investment—spendingbybusinessfirmsonadditionalholdingsofrawmaterials,parts,andfinishedgoods.

A）planned;

gross

B）planned;

inventory

C）fixed;

D）fixed;

18）Afallininventoriesissynonymouswith________investment.

A）negativefixed

B）positivefixed

C）positiveinventory

D）negativeinventory

19）Adifferencebetweeninventoryinvestmentandfixedinvestmentisthat

A）fixedinvestmentisneverunplanned.

B）fixedinvestmentisneverplanned.

C）inventoryinvestmentisneverunplanned.

D）unplannedinventoryinvestmentisalwayszero.

20）Keynesmentionedtwofactorsthatinfluencedplannedinvestmentspending

A）interestratesanddisposableincome.

B）interestratesandbusinessexpectationsaboutthefuture.

C）disposableincomeandbusinessexpectationsaboutthefuture.

D）interestratesandbusinessexpectationsaboutinflation.

21）Factorsthatinfluencedplannedinvestmentspendinginclude

A）realinterestrates.

B）financialfrictions.

C）emotionalwavesofoptimismandpessimism.

D）alloftheabove.

E）AandC.

22）Plannedinvestmentspendingishigher

A）whenrealinterestrateishigher.

B）duringfinancialfrictions.

C）whenbusinessesareoptimistic.

23）Aggregatedemandinaneconomywithnogovernmentorforeigntradeis

A）consumerexpenditureplusactualinvestment.

B）consumerexpenditureplusplannedinvestment.

C）consumerexpenditureplusinventoryinvestment.

D）consumerexpenditureplusfixedinvestment.

21.3GoodsMarketEquilibrium

1）Ifunplannedinvestmentispositive,firmswill________productionandoutputwill________.

A）cut;

rise

B）cut;

fall

C）increase;

D）increase;

2）Ifunplannedinvestmentisnegative,firmswill________productionandoutputwill________.

3）IntheKeynesianframework,aslongasoutputisbelowtheequilibriumlevel,unplannedinventoryinvestmentwillremain________andfirmswillcontinueto________production.

A）negative;

lower

B）negative;

raise

C）positive;

D）positive;

4）IntheKeynesianframework,aslongasoutputis________theequilibriumlevel,unplannedinventoryinvestmentwillremain________andfirmswillcontinuetoraiseproduction.

A）below;

negative

B）above;

C）below;

positive

D）above;

5）IntheKeynesianframework,aslongasoutputis________theequilibriumlevel,unplannedinventoryinvestmentwillremain________andfirmswillcontinuetolowerproduction.

6）IntheKeynesianframework,aslongasoutputis________theequilibriumlevel,unplannedinventoryinvestmentwillremainpositiveandfirmswillcontinueto________production.

7）IntheKeynesianframework,aslongasoutputisabovetheequilibriumlevel,unplannedinventoryinvestmentwillremain________andfirmswil