宏观经济学课件 OBlanchard Macroeconomics 6th chapter 22Word文档下载推荐.docx
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2)EconometricmodelsoftheU.S.economygenerallyagree
A)onthequantitativeimpactofmonetarypolicyoverahorizonofseveralyears.
B)thatanincreaseinmoneygrowthwillincreaseoutputintheshortrun.
C)thatanincreaseinmoneygrowthwilldecreaseoutputintheshortrun.
D)thatanincreaseinmoneygrowthwilldecreaseoutputinthelongrun.
E)that"
rationalexpectations"
isthebestwaytogeneratepolicyforecasts.
B
3)Allofthemacroeconometricmodelscurrentlyinuse
A)originateintheUnitedStates.
B)incorporaterationalexpectationsintotheirpredictions.
C)originatewithgovernmentorinternationalagencies.
D)originatewithcommercialfirmswhoselltheirforecaststootherfirmsandgovernments.
E)noneoftheabove
E
4)Forthisquestion,assumethatthethereexistsuncertaintyabouttheimpactofmonetarypolicyonthemacroeconomy.Giventhisinformation,itwouldbemostappropriateforthecentralbanktoincreasemoneygrowth
A)atthemidpointofarecession.
B)bymorethantheincreasethatwillyieldthedesiredresponse.
C)bylessthantheincreasethatwillyieldthedesiredresponse.
D)byanamountequaltotheincreasethatwillyieldthedesiredresponse.
E)onlyafteritiscertainthattheeconomyhasenteredarecession.
2
5)Giventheuncertaintyabouttheeffectsofmacropolicy,economistsgenerallyproposethat
A)macropoliciesshouldbemoreactive,thelowerthelevelofunemploymentorinflation.
B)changesinmoneygrowthshouldonlybeusedforfinetuningtheeconomy,notforcorrectinglargeimbalances(suchashighinflation).
C)moneygrowthshouldbesetatzerobyconstitutionalamendment.
D)electedofficialsshouldhavemoreinputinthedeterminationofmonetarypolicy.
6)Theideathattheeconomyoperateslikeacomplicated,predictablemachineisanimportantaspectof
A)gametheory.
B)attritiontheory.
C)thetheoryofstrategicinteraction.
D)timeinconsistencytheory.
E)optimalcontroltheory.
7)Inmacroeconomics,gametheoryfocusesonthestrategicinteractionsbetweenwhichofthefollowinggroupsofagents?
A)individuals;
firms
B)individualsandfirms;
policymakers
C)policymakers;
economicforecasters
D)individualsandfirms;
8)Whichofthefollowingbestdefinestimeinconsistency?
A)theincreasinginaccuracyofeconometricmodelsasthetimehorizonbecomeslonger.
B)thetendencyfortheriseinoutputtobegreaterintheearlyyearsofapresident'
sterm,andsmallerinthelateryears.
C)theeffectsofpoliticalelectoralcyclesonthebusinesscycle.
D)thetendencyforpolicymakerstodeviatefromapre-announcedoptimalpolicyonceagentsintheeconomyhaveadjustedtheirbehaviorandexpectationsbasedonthepre-announcedpolicy
E)theeffectofeconomicuncertaintyonshort-runstabilizationpolicy.
D
9)Theexistenceofthetimeinconsistencyprobleminmacropolicysuggestswhichofthefollowing?
A)usefiscalandmonetarypolicytofinetunetheeconomy.
B)reducetheindependenceofthecentralbank.
C)appointsomeonewhoismoreconservative(economically)thantherestofthegovernmenttoheadthecentralbank.
D)intervenefrequentlyintheforeignexchangemarket.
E)eliminaterationalexpectationsfromeconometricmodelsusedforforecasting.
10)OncepeoplebelievetheFed'
scommitmenttokeepunemploymentatthenaturalrate,theFedcanreduceunemploymentbelowthenaturalrate
A)inboththeshortrunandthelongrun.
B)inboththeshortrunandthelongrun,butonlyafterchangingpeoples'
expectations.
C)inthelongrun,butnottheshortrun.
D)intheshortrun,butnotinthelongrun.
11)Tosolvethe"
timeinconsistency"
probleminmacropolicy,anationmaywellhaveto
A)restrictitselfinthepresentfromtakingcertainpolicymovesinthefuture.
B)liftallrestrictionsonfuturepolicymoves.
C)presentpolicymovestothepublic,forexample,inareferendum.
D)usethecourtstosettlepolicydisputes.
E)makethecentralbankmoreresponsivetothepopularwill.
A
12)Researchindicatesthatthemoreindependentthecentralbank,
A)thesmallerthebudgetdeficit.
B)thehigherthenominalinterestrate.
C)thelowertherateofinflation.
D)thelargerthetimeinconsistencyprobleminmakingpolicy.
E)thegreaterthelikelihoodofa"
warofattrition"
overpolicy.
13)Onesurprisinginsightfromviewingpolicyasa"
game"
isthat
A)centralbankersshouldprojectanimageofbeingconservativeoneconomicpolicymatters,regardlessoftheirpersonalviews.
B)itismoredifficulttocontrolinflationwhenthecentralbankishighlyindependent.
C)uncertaintyovertheimpactofpolicymakeslittledifferenceindesigninganoptimalpolicy.
D)moneygrowthhaslittleornoimpactoninflationinthelongrun.
E)decreasingmoneygrowthmaysubstantiallyincreasetherateofinflationinthelongrun.
14)Whichofthefollowingisthemostpowerfulargumentforputtingrestraintsonpolicymakers(asopposedtoself-restraintbypolicymakersthemselves)?
A)timeinconsistency
B)uncertaintyaboutOkun'
scoefficient
C)uncertaintyaboutthenaturalrateofunemployment
D)uncertaintyaboutthetimingofpolicyimpacts
E)disagreementsabouttheproperstructureofaneconometricmodel
15)Inwhichofthefollowingpoliticalsystemswouldapoliticalbusinesscyclebemorelikelytooccur?
A)ademocracywithelectionsthatoccuronaregularbasis
B)aparliamentary
C)communist-typeeconomies
D)socialist-typeeconomies
E)ademocracywithelectionsthatoccuronanirregularbasis
16)IntheUnitedStates,presidentialelectionsoccureveryfouryears.IfapoliticalbusinesscycleexistsintheUnitedStates,inwhichyearofapresidentialterm,allelsefixed,wouldweexpectoutputgrowthtobehighest?
A)thefirstyear
B)thesecondyear
C)thethirdyear
D)thefourthyear
17)IntheUnitedStates,presidentialelectionsoccureveryfouryears.IfapoliticalbusinesscycleexistsintheUnitedStates,inwhichyearofapresidentialterm,allelsefixed,wouldweexpectoutputgrowthtobelowest?
A)thefirstorsecondyear
B)thesecondorthirdyear
C)thethirdorfourthyear
18)WhichofthefollowingstatementsistrueabouttheUnitedStatesoverthepastfiftyyears?
A)thereisnoevidenceofpoliticalbusinesscyclesintheUnitedStates
B)thedebt-to-GDPratiohasbeenroughlyconstant
C)undereitherparty,outputgrowthhasbeengenerallyhigherintheyearprecedinganelectionthaninotheryears
D)noneoftheabove
19)Duringwhichofthefollowingdecadeswasthedebt-to-GDPratiogenerallyhighestintheUnitedStates?
A)1930s
B)1940s
C)1960s
D)1980s
E)1990s
20)SupposewecomparetheaveragegrowthratesofoutputforRepublicanandDemocraticadministrations.Inwhichyear,onaverage,isthedifferenceingrowthratesforRepublicanandDemocraticadministrationsgreatest?
A)first
B)second
C)third
D)fourth
E)thegrowthratesarenearlyidenticalforbothparties
21)Analysisofmacropolicyandtheoryhasresultedinofthefollowingviews?
A)thereshouldbenoconstraintsimposedonfiscalormonetarypolicy.
B)aconstitutionalamendmentisthemostappropriatemethodtoconstrainfiscalpolicy.
C)theheadsofthecentralbankshouldbechosenbypopularelections.
D)alloftheabove
22)Supposeanelectedofficialwishestointroduceanewgovernmentprogram.UnderaPAYGOrule,thisnewprogramwouldbeadoptedonlyif
A)thebudgetdeficitisreducedbythesameamountasthecostsofthenewprogram.
B)thebudgetdeficitisreducedbyhalftheamountofthecostsofthenewprogram.
C)thenewprogramdoesnotresultinanincreaseinthecurrentorfuturebudgetdeficit.
23)Whichofthefollowingwasoneofthemainrulesinthe1990"
BudgetEnforcementAct"
?
A)flattaxrate
B)spendingcaps
C)indexationofincometaxbrackets
D)consumptiontax
24)Whichofthefollowingwasoneofthemainrulesinthe1990"
B)PAYGOrule
25)ThePAYGOrulewasallowedtoexpireinwhichyear?
A)1990
B)1991
C)2002
D)thePAYGOrulestillexists
26)Argumentsforplacingrestraintsonpolicymakersfallintowhichofthefollowing?
A)policymakersunderstandcompletelyhowtheeconomyoperates
B)policymakershavegoodintentions,butendupdoingmoreharmthangood
C)policymakersdowhatisbestforthem,notnecessarilywhatisbestforthecountry
E)bothBandC
27)Finetuningrepresen