曼昆经济学题库chapter24Word下载.docx

曼昆经济学题库chapter24Word下载.docx

《曼昆经济学题库chapter24Word下载.docx》由会员分享，可在线阅读，更多相关《曼昆经济学题库chapter24Word下载.docx（39页珍藏版）》请在冰豆网上搜索。

1SECTION:

21.0

2.Whichofthefollowingisnotareasontheaggregatedemandcurveslopesdownward?

Asthepricelevelincreases

a.realwagesdecline.

b.realwealthdeclines.

c.theinterestrateincreases.

d.theexchangerateincreases.

21.1

3.FortheU.S.economy,whichofthefollowingisthemostimportantreasonforthedownwardslopeoftheaggregate-demandcurve?

a.thewealtheffect

b.theinterest-rateeffect

c.theexchange-rateeffect

d.thereal-wageeffect

4.WhichofthefollowingreasonsforthedownwardslopeoftheaggregatedemandcurvewouldlikelybemoreimportantforasmalleconomythanfortheUnitedStates?

5.Whichofthefollowingisnotaresponsethatwouldresultfromadecreaseinthepricelevelandsohelptoexplaintheslopeoftheaggregatedemandcurve?

a.Wheninterestratesfall,SleepwellHotelsdecidestobuildsomenewhotels.

b.Theexchangeratefalls,soFrenchrestaurantsinParisbuymoreIowapork.

c.Janetfeelswealthierbecauseofthepricedropandsoshedecidestoremodelherbathroom.

d.Withpricesdownandwagesfixedbycontract,GatekeeperComputersdecidestolayoffworkers.

6.Thewealtheffecthelpsexplainthedownwardslopeoftheaggregatedemandcurve.Thiseffectis

a.relativelyimportantintheUnitedStatesbecauseexpendituresonconsumerdurablesisveryresponsivetochangesinwealth.

b.relativelyimportantintheUnitedStatesbecauseconsumptionspendingisalargepartofGDP.

c.relativelyunimportantintheUnitedStatesbecausemoneyholdingsareasmallpartofconsumerwealth.

d.relativelyunimportantbecauseittakesalargechangeinwealthtomakeasignificantchangeininterestrates.

7.Whichofthefollowingclaimsconcerningtheimportanceofeffectsthatexplaintheslopeoftheaggregatedemandcurveiscorrect?

a.Theexchange-rateeffectisrelativelysmallbecauseexportsandimportsareasmallpartofrealGDP.

b.Theinterest-rateeffectisrelativelysmallbecauseinvestmentspendingisnotveryresponsivetointerestratechanges.

c.Thewealtheffectisrelativelylargebecausemoneyholdingsareasignificantportionofmosthouseholds’wealth.

d.Noneoftheaboveiscorrect.

8.LiquiditypreferencerefersdirectlytoKeynes’theoryconcerning

a.theeffectsofchangesinmoneydemandandsupplyoninterestrates.

b.theeffectsofchangesinmoneydemandandsupplyonexchangerates.

c.theeffectsofwealthonexpenditures.

d.thedifferencebetweentemporaryandpermanentchangesinincome.

9.Accordingtoliquiditypreferencetheory,equilibriuminthemoneymarketisachievedbyadjustmentsin

a.thepricelevel.

b.theinterestrate

c.theexchangerate

d.realwealth.

10.Liquiditypreferencetheoryismostrelevanttothe

a.shortrunandsupposesthatthepriceleveladjuststobringmoneysupplyandmoneydemandintobalance.

b.shortrunandsupposesthattheinterestrateadjuststobringmoneysupplyandmoneydemandintobalance.

c.longrunandsupposesthatthepriceleveladjuststobringmoneysupplyandmoneydemandintobalance.

d.longrunandsupposesthattheinterestrateadjuststobringmoneysupplyandmoneydemandintobalance.

2SECTION:

11.Ifexpectedinflationisconstant,thenwhenthenominalinterestrateincreases,therealinterestrate

a.increasesbymorethanthechangeinthenominalinterestrate.

b.increasesbythechangeinthenominalinterestrate.

c.decreasesbythechangeinthenominalinterestrate.

d.decreasesbymorethanthechangeinthenominalinterestrate.

12.Ifexpectedinflationisconstantandthenominalinterestrateincreased3percentagepoints,therealinterestratewould

a.increase3percentagepoints.

b.increase,butbylessthan3percentagepoints.

c.decrease,butbylessthan3percentagepoints.

d.decreaseby3percentagepoints.

13.Thetheoryofliquiditypreferenceassumesthatthenominalsupplyofmoneyisdeterminedbythe

a.levelofrealGDP.

b.rateofinflation.

c.interestrate.

d.theFederalReserve.

14.Accordingtothetheoryofliquiditypreference,themoneysupplyis

a.positivelyrelatedtotheinterestrate.

b.negativelyrelatedtotheinterestrate.

c.independentoftheinterestrate.

d.negativelyrelatedtoboththeinterestrateandthepricelevel.

15.Accordingtoliquiditypreferencetheory,themoneysupplycurveis

a.upwardsloping.

b.downwardsloping.

c.vertical.

d.horizontal.

16.Accordingtoliquiditypreferencetheory,themoneysupplycurvewouldshiftright

a.ifthemoneydemandcurveshiftedright.

b.onlyiftheFederalReservechosetoincreaseit.

c.iftheinterestrateincreased.

d.ifthepricelevelfellortheinterestratedecreased.

17.Accordingtoliquiditypreferencetheory,themoneysupplycurvewouldshiftiftheFed

a.engagedinopen-markettransactions.

b.changedthediscountrate.

c.changedthereserverequirement.

d.didanyoftheabove.

18.WhentheFedbuysgovernmentbonds,thereservesofthebankingsystem

a.increase,sothemoneysupplyincreases.

b.increase,sothemoneysupplydecreases.

c.decrease,sothemoneysupplyincreases.

d.decrease,sothemoneysupplydecreases.

19.Liquidityrefersto

a.therelationbetweenthepriceandinterestrateofanasset.

b.theriskofanassetrelativetoitssellingprice.

c.theeasewithwhichanassetisconvertedintoamediumofexchange.

d.thesensitivityofinvestmentspendingtochangesintheinterestrate.

20.Whichofthefollowingisthemostliquidasset?

a.capitalgoods

b.stocksandbondswithalowrisk

c.stocksandbondswithahighrisk

d.fundsinacheckingaccount

21.Peopleownorholdmoneyprimarilybecauseit

a.hasaguaranteednominalreturn.

b.servesasastoreofvalue.

c.candirectlybeusedtobuygoodsandservices.

d.functionsasaunitofaccount.

22.Whentheinterestrateincreases,theopportunitycostofholdingmoney

a.increases,sothequantityofmoneydemandedincreases.

b.increases,sothequantityofmoneydemandeddecreases.

c.decreases,sothequantityofmoneydemandedincreases.

d.decreases,sothequantityofmoneydemandeddecreases.

23.Whentheinterestratedecreases,theopportunitycostofholdingmoney

24.Theopportunitycostofholdingmoney

a.decreaseswhentheinterestrateincreases,sopeopledesiretoholdmoreofit.

b.decreaseswhentheinterestrateincreases,sopeopledesiretoholdlessofit.

c.increaseswhentheinterestrateincreases,sopeopledesiretoholdmoreofit.

d.increaseswhentheinterestrateincreases,sopeopledesiretoholdlessofit.

25.Accordingtoliquiditypreferencetheory,theopportunitycostofholdingmoneyis

a.theinterestrateonbonds.

b.theinflationrate.

c.thecosto