秋季学期宏观复习题Word下载.docx

秋季学期宏观复习题Word下载.docx

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a.SocialSecuritypayments

b.purchasesofforeigngoodsandservices

c.purchasesofnewlyconstructedhomes

d.Alloftheabovearecorrect.

4.SupposenominalGDProsefrom$500billionto$600billionwhiletheGDPdeflatorincreasedfrom100to125.TherealGDP（）

a.remainedconstantb.increased

c.decreasedd.cannotbecalculatedfromthesefigures

5.Whichofthefollowingiscorrectforaneconomy?

a.Incomeisgreaterthanproduction.

b.Productionisgreaterthanincome.

c.Incomealwaysequalsproduction.

d.Incomeequalsproductiononlywhensavingiszero.

6.Thegovernmentreportsthat"

GDPincreasedby1.6percentinthelastquarter."

ThisstatementmeansthatGDPincreased（）

a.by6.4percentfortheyear.

b.atanannualrateof6.4percentduringthelastquarter.

c.atanannualrateof1.6percentduringthelastquarter.

d.atanannualrateof.4percentduringthelastquarter.

7.Theconsumerpriceindexisusedto（）

a.trackchangesinthelevelofwholesalepricesintheeconomy.

b.monitorchangesinthecostofliving.

c.monitorchangesinthelevelofrealGDP.

d.trackchangesinthestockmarket.

8.BecausetheCPIisbasedonafixedbasketofgoods,theintroductionofnewgoodsandservicesintheeconomycausestheCPItooverestimatethecostofliving.Thisissobecause（）

a.newgoodsandservicesarealwaysofhigherqualitythanexistinggoodsandservices.

b.newgoodsandservicescostlessthanexistinggoodsandservices.

c.newgoodsandservicescostmorethanexistinggoodsandservices.

d.whenanewgoodisintroduced,itgivesconsumersgreaterchoice,thusreducingtheamounttheymustspendtomaintaintheirstandardofliving.

9.WhichgoodsaresupposedtobeincludedintheCPI?

a.allgoodsandservicesproducedintheeconomy

b.allgoodsandservicesthattypicalconsumersbuy

c.allgoodsandservicesintheconsumptioncomponentoftheGDPaccounts

d.allthegoods,butnottheservices,intheconsumptioncomponentoftheGDPaccounts

10.Whentherelativepriceofagoodincreases,consumerswillrespondbybuying（）

a.moreofitanditssubstitutes.b.lessofitanditssubstitutes.

c.lessofitandmoreofitssubstitutes.d.moreofitandlessofitssubstitutes.

11.Inasimplecircular-flowdiagramtotalincomeandtotalexpenditureare（）

a.seldomequalbecauseofthedynamicchangeswhichoccurinaneconomy.

b.equalonlywhenallgoodsandservicesproducedaresold.

c.alwaysequalbecauseeverytransactionhasabuyerandaseller.

d.alwaysequalbecauseofaccountingrules.

12.Productivity（）

a.isnearlythesameacrosscountriesandsoprovidesnohelpexplainingdifferencesacrosscountriesinthestandardofliving.

b.explainsverylittleofthedifferencesacrosscountriesinthestandardofliving.

c.explainssome,butnotmostofthedifferencesacrosscountriesinthestandardofliving.

d.explainsmostofthedifferencesacrosscountriesinthestandardofliving.

13.WhichofthefollowingisNOTcorrect?

a.Countriesthathavehadhigheroutputgrowthperpersonhavetypicallynotdonesowithhigherproductivitygrowth.

b.Acountry'

sstandardoflivinganditsproductivityarecloselyrelated.

c.Productivityreferstooutputproducedperhourofwork.

d.Increasesinproductivitycanbeusedtoincreaseoutputorleisure.

14.Whichofthefollowingisconsideredhumancapital?

a.knowledgeacquiredfromearlychildhoodeducationprograms

b.knowledgeacquiredfromgradeschool

c.knowledgeacquiredfromon-the-jobtraining

15.WhenacountrysavesalargerportionofitsGDP,itwillhave（）

a.lessinvestment,andsohavemorecapitalandhigherproductivity.

b.lessinvestment,andsohavelesscapitalandhigherproductivity.

c.moreinvestment,andsohavemorecapitalandhigherproductivity.

d.moreinvestment,andsohavelesscapitalandhigherproductivity.

16.WhichofthefollowingequationswillalwaysrepresentGDPinanopeneconomy?

a.S=I–Gb.I=Y-C+G

c.Y=C+I+Gd.Y=C+I+G+NX

17.Whichofthefollowingisconsideredhumancapital?

a.thecomfortablechairinyourdormroomwhereyoureadeconomicstexts

b.theamountyougetpaideachweektoworkatthelibrary

c.thethingsyouhavelearnedthissemester

d.anycapitalgoodsthatrequireahumantobepresenttooperate

18.Abudgetsurplusiscreatedif（）

a.thegovernmentsellsmorebondsthanitbuysback.

b.thegovernmentspendsmorethanitreceivesintaxrevenue.

c.privatesavingsaregreaterthanzero.

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

a.1500,1000,500b.1000,500,1500

c.500,1500,1000d.Noneoftheabovearecorrect.

20.Ifthetaxrevenueofthefederalgovernmentexceedsspending,thenthegovernment（）

a.runsabudgetdeficit.b.runsabudgetsurplus.

c.runsanationaldebt.d.willincreasetaxes.

21.Whatisthefuturevalueof$500oneyearfromtodayiftheinterestrateis6percent?

a.$503b.$515c.$530d.Noneofthefrontiscorrect.

22.Lisadeposits$250inanaccountandoneyearlaterhas$270;

whatwastheinterestrate?

（）

a.8percentb.9percent

c.10percentd.Noneoftheabovearecorrect.

23.Ariskaversepersonhas（）

a.utilityandmarginalutilitycurvesthatslopeupward.

b.utilityandmarginalutilitycurvesthatslopedownward.

c.autilitycurvethatslopesdownandamarginalutilitycurvethatslopesupward.

d.autilitycurvethatslopesupwardandamarginalutilitycurvethatslopesdownward.

24.Theutilityfunctionofarisk-aversepersonhasa（）

a.positiveslopeandgetssteeperaswealthincreases.

b.positiveslopebutgetsflatteraswealthincreases.

c.negativeslopebutgetssteeperaswealthincreases.

d.negativeslopeandgetsflatteraswealthincreases.

25.Whichofthefollowingisareasonfordiversification?

a.togetthehighestpossiblereturnb.togetthemostdividends

c.toeliminateriskd.toreducerisk

26.Diversificationofaportfoliocan（）

a.reduceaggregateriskb.reduceidiosyncraticrisk

c.eliminateallrisksd.increasethestandarddeviationoftheportfolio’sreturn

27.Municipalbondspaya（）

a.lowrateofinterestbecauseoftheirhigh-defaultriskandbecausetheinteresttheypayissubjecttofederalincometax.

b.lowrateofinterestbecauseoftheirlow-defaultriskandbecausetheinteresttheypayisnotsubjecttofederalincometax.

c.highrateofinterestbecauseoftheirhigh-defaultriskandbecausefederaltaxesmustbepaidontheinteresttheypay.

d.highrateofinterestbecauseoftheirlow-defaultriskandbecausetheinteresttheypayisnotsubjecttofederalincometax.

28.Amutualfund（）

a.isafinancialmarketwheresmallfirmsmutuallyagreetosellstocksandbondstoraisefunds.

b.isfundssetasidebylocalgovernmentstolendtosmallfirmswhowanttoinvestinprojectsthataremutuallybeneficialtothefirmandcommunity.

c.sellsstocksandbondsonbehalfofsmallandlessknownfirmswhowouldotherwisehavetopayhighinteresttoobtaincredit.

d.isaninstitutionthatsellssharestothepublicandusestheproceedstobuyaselectionofvarioustypesofstocks,bonds,orbothstocksandbonds.

29.Thesupplyofloanablefundscurveisupwardslopingbecauseariseintheinterestrate（）

a.decreasestheopportunitycostoffirms’investmentspending.

b.increasestheopportunitycostoffirms’investmentspending.

c.decreasestheopportunitycosttohouseholdsofconsuming.

d.increasestheopportunitycosttohouseholdsofconsuming.

30.Thelaborforceequalsthe（）

a.numberofpeoplewhoareemployed.

b.numberofpeoplewhoareunemployed.

c.numberofpeopleemployedplusthenumberofpeopleunemployed.（）

d.adultpopulation.

31.Acollegestudentwhoisnotworkingorlookingforajobiscountedas（）

a.neitheremployednorpartofthelaborforce.

b.unemployedandinthelaborforce.

c.unemployed,butnotinthelaborforce.

d.employedandinthelaborforce.

32.

Totalpopulation

29.7

Adultpopulation

21.2

Numberofunemployed

1.2

Numberofemployed

12.1

Accordingtothestatistics,thelaborforceis（）

a.12.1millionb.13.3millionc.20.0milliond.21.2million

33.Mosteconomistsagreethateliminatingunemploymentinsurancewould（）

a.increaseunemploymentbecausepeoplewouldquitjobstheythoughtwerenotsecure.

b.increaseunemploymentbecauseifthegovernmentdidn'

tprovideunemploymentinsurance,privatefirmswouldoffersuperiorinsurance.

c.reduceunemploymentandsoimproveeconomicwell-being.

d.reduceunemployment,