宏观选择题 Macro Economic.docx

宏观选择题 Macro Economic.docx

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宏观选择题MacroEconomic

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MultipleChoiceQuiz19

（Seerelatedpages）

Choosethebestanswer

1Assumethegovernmentchangedwelfaretoworkfare,thatis,everyonereceivinggovernmenttransferpaymentsnowhadtoworkforthegovernmentandthereforereceivedasalary.HowwouldGDPbeaffected?

A）GDPwouldincrease

B）GDPwoulddecrease

C）thechangeinGDPwoulddependonwhetherthesalaryisgreaterorlessthanthetransfer

D）GDPwouldnotchangeifthepaymentisthesameinbothcases

2WhatisthedifferencebetweenGDPandGNP?

A）GNPdoesnotaccountfordepreciation（capitalconsumptionallowances）

B）GNPincludespaymentstodomesticallyownedfactorsofproductionabroad

C）GNPincludesindirecttaxesbutGDPdoesnot

D）GNPdoesnotincludegovernmenttransferpaymentsbutGDPdoes

3Whichofthefollowingtransactionshasnodirecteffectonthisyear'sGDP?

A）yousellyourholdingsofMicrosoftstocks

B）anunemployedworkergetshisunemploymentbenefits

C）youbuyatwoyearoldcarfromyourneighbor

D）noneoftheabovedirectlyaffectsGDP

4AssumeaGermantouristbuysaMexicanbeerinapubinHouston.HowwilltheU.S.GDPbeaffected?

A）U.S.GDPwillbeunaffected,sinceaforeignerbuysaforeignproduct.

B）U.S.GDPwilldecreasesincethebeerhastobeimportedfromMexico

C）U.S.GDPwillincreasebythevalueaddedattheHoustonpub

D）U.S.GDPwillincrease,butonlybythesalestaxassessedonthebeer

5WhichofthefollowingisNOTincludedinprivatedomesticinvestment（I）asdefinedinourtext?

A）theconstructionofanewresidentialhome

B）theincreaseinthenumberofnewcarsintheinventoryofacardealer

C）thebuyingofnewequipmentforanexistingfactory

D）thebuyingofIBMstocksbyfinancialinvestors

6RealGDPpercapitaisdefinedas

A）nominalGDPpercapitaminusdepreciation

B）realGDPminuscapitalconsumptionallowances

C）realGDPdividedbythepopulation

D）thefractionofrealGDPdevotedtocapitalinvestment

7Overthelastthreedecades,theU.S.federaldebtasapercentageofGNP

A）neverhasbeenlessthan50percent

B）hasdecreasedsteadily

C）hasincreasedsteadily

D）wasatitslowestinthe1970sbutincreasedsharplyinthe1980s

8IfGDPis$10,400,NDPis$9,100,andgrossprivatedomesticinvestmentis$1,600（allnumbersareinbillionsofdollars）,thenwecanconcludethat

A）netprivatedomesticinvestmentis$300

B）theGDP-deflatorisroughly114

C）theadditiontothecapitalstockis$1,600billion

D）alloftheabove

9Depreciationis

A）thedifferencebetweenprivatedomesticsavingandprivatedomesticinvestment

B）thedifferencebetweenrealandnominalGDP

C）thedifferencebetweenGNPandGDP

D）anotherwordforcapitalconsumptionallowances

10WhichofthefollowingnationalincomeaccountingidentitiesisWRONG?

A）S-I≡（G+TR-TA）+NX

B）YD≡Y-TA-TR

C）BS≡TA-TR-G

D）I+G+NX≡S+TA-TR

11AssumethatGDP=9,400,consumption=6,500,governmentpurchases=1,600,privatedomesticsaving=1,100,andnetexports=-200.Whichofthefollowingistrue?

A）grossprivatedomesticinvestment=1,500

B）disposableincome=7,600

C）thebudgetsurplus=200

D）alloftheabove

12IfnationalincomeisY=9,300,disposableincomeisYD=7,500,consumptionisC=6,600,netexportsisNX=-180,andthebudgetsurplusisBS=230,whatisthelevelofprivatedomesticinvestment（I）?

A）850

B）900

C）950

D）1,310

13IfnationalincomeisY=10,400,disposableincomeisYD=8,800,consumptionisC=7,700,netexportsisNX=-220,andthebudgetdeficitisBD=150（allareinbillionsofdollars）,whatisthelevelofprivatedomesticinvestment（I）?

A）$1,170

B）$1,100

C）$1,030

D）$960

14Ifthegovernmentsucceedsinturningabudgetdeficitintoabudgetsurplus,whichofthefollowingcanhappen?

A）privatedomesticsavingcandecrease

B）privatedomesticinvestmentcanincrease

C）netexportscanincrease

D）alloftheabove

15IfnominalGDPis$10,406billionandtheGDP-deflatoris110,thenrealGDPisabout

A）$11,450billion

B）$10,516billion

C）$10,296billion

D）$9,460billion

16TheGDP-deflatorandtheCPIdifferfromeachothersince

A）theGDP-deflatordoesnotincludeservicesbuttheCPIdoes

B）theGDP-deflatorincludesimportedgoodsbuttheCPIdoesn't

C）theCPImeasuresafixedmarketbasketbuttheGDP-deflatordoesn't

D）theCPIincludesmoregoodsthantheGDP-deflatordoes

17WhichofthefollowingisNOTtrue?

A）theGDP-deflatorisalaggingindicator

B）thePPImeasuresthecostofagivenmarketbasketofgoods

C）biasesintheCPIcanaffecttheSocialSecuritysystem

D）theCPIdoesnotincludeimportedgoods

18Theunemploymentrateisdefinedas

A）thenumberofpeopleoutofworkbutactivelylookingforworkdividedbythetotalpopulation

B）thefractionofthelaborforcewhoareoutofworkandlookingforworkorexpectingarecallfromalayoff

C）thenumberofpeopleoutofworkbutactivelylookingplusthenumberofdiscouragedworkersdividedbythetotalworkforce

D）thefractionofthelaborforcewhoareunemployedminusthosewhoarejustwaitingtoberecalledfromatemporarylayoff

19Assumeyoudesirearealrateofreturnof4%onaninvestmentandyouexpecttheannualaverageinflationratetobe3.2%.Whatshouldthenominalinterestratebeonthisinvestment?

A）0.8%

B）3.0%

C）4.0%

D）7.2%

20AssumetheBritishpoundisworth$1.56inU.S.dollarsandtheHongKongdollarisworth$0.13inU.S.dollars.Whatdoesthisimply?

A）everythinginHongKongis12timescheaperthaninGreatBritain

B）everythinginHongKongis12timesmoreexpensivethaninGreatBritain

C）youcanget12HongKongdollarsforoneBritishpound

D）noneoftheabove

C3

1

Whichofthefollowingisasourceofeconomicgrowth?

A）growthinthestockofknowledge

B）growthincapitalinputs

C）improvedtechnologicalefficiency

D）alloftheabove

2

Laborproductivity

A）isalsocalledthemarginalproductoflabor

B）isdefinedasY/N

C）declinesasmorecapitalisaddedtotheproductionprocess

D）isthesameastotalfactorproductivity

3

IfwehaveaCobb-Douglasaggregateproductionfunction,theterm"constantreturnstoscale"referstothefactthat

A）theshareofcapitalinproductionisalwaysequaltotheshareoflaborinproduction

B）themarginalproductofcapitalisalwaysequaltothemarginalproductoflabor

C）theshareofcapitalinproductionandtheshareoflaborinproductionadduptoone

D）totalfactorproductivityisequaltoone

4

TheSolowresidualmeasureschangesin

A）totalfactorproductivity

B）laborproductivity

C）themarginalproductofcapital

D）thecostofproduction

5

IfweassumeaCobb-Douglasproductionfunctionwheretheshareofcapitalisequalto0.2andtheshareoflaborisequalto0.8,thenthemarginalproductoflaborisequalto

A）Y/N

B）5Y/4N

C）4Y/5N

D）Y/4N

6

IfweassumeaCobb-Douglasproductionfunctionwheretheshareoflaboris3/4andtheshareofcapitalis1/4,thenthemarginalproductofcapitalcanbecalculatedas

A）3Y/4K

B）Y/4K

C）4Y/K

D）Y/K

7

AssumeaCobb-Douglasproductionfunctionwheretheshareofcapital1/4andtheshareoflaboriseach3/4.Ifthegrowthintotalfactorproductivityiszeroandlaborandcapitaleachgrowby1%,then

A）outputgrowthis1%andthemarginalproductofcapitalisY/4K

B）outputgrowthis1%andthemarginalproductofcapitalisY/K

C）outputgrowthis1%andthemarginalproductoflaborisY/4N

D）outputgrowthis2%andthemarginalproductoflaboris3Y/4N

8

AssumeaCobb-Douglasproductionfunction,wheretheshareofcapitalis0.3andtheshareoflaboris0.7.Ifcapitalgrowsby3%,laborgrowsby2%,andgrowthoftotalfactorproductivityis1%,byhowmuchdoestotaloutputgrow?

A）2.3%

B）3.3%

C）3.7%

D）6.0%

9

Assumeaproductionfunctionwithconstantreturnstoscale.Theshareofcapitalinproductionis1/4andtheshareoflaboris3/4.Ifbothlaborandcapitalgrowat1.6%and