宏观经济学选择题 题集 全.docx

宏观经济学选择题 题集 全.docx

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宏观经济学选择题题集全

宏观经济学选择题题集全

1.Thegoalsofmacroeconomicpolicyinclude:

E

A）highemployment

B）lowunemployment

C）stableprices

D）growingrealGDP

E）alloftheabove

2.Supposethatinaparticularyear,nominalGDPislessthanrealGDP.Thisimpliesthat:

E

A）inflationislow

B）inflationishigh

C）theyearinquestionpriortothebaseyear

D）theyearinquestionafterthebaseyear

E）theanswercannotbedeterminedfromtheinformationgiven

3.ThetwoapproachesthateconomistsusetomeasureGDPare:

E

A）thegoodsflowandinvestmentflow

B）currentsurveysandhistoricaldata

C）theproductflowandspendingflow

D）householdtaxreturnsandcorporatetaxreturns

E）theproductflowandtheearningsflow

4.Whatmustbedonetoequalizetheflow-of-productandtheearningsorcostapproaches?

A

A）Intermediategoodsmustbesubtractedfromtheflow-of-productsum

B）Profitsmustbeconsideredaresidualcost

C）Imputedrentsmustbeexcluded

D）Thedollarvalueofservicesproducedmustbeincludedintheflow-of-product

E）Transferpaymentsbythegovernmentmustbeincludedintheflow-of-costapproach

5.TheMPCistheratioofA

A）Extraconsumptiontoextraincome

B）Extraconsumptiontoextrasaving

C）Extraconsumptiontototalincome

D）Totalconsumptiontototalincome

E）Break-evenconsumptiontobreak-evenincome

6.Whichofthefollowingisnotconsideredacategoryofinvestment?

A

A）Stockandbondpurchases.

B）Purchasesofplantandequipment

C）Purchasesaddingtoinventories

D）Residentialhousingconstruction

E）Noneofabove

7.Whichofthefollowingbestdescribesthemoney-supplyeffect?

A

A）Aspricesrise,tightmoneyleadstoadecreaseintotalrealspending

B）AstheFedinjectsmoremoneyintotheeconomy,pricesincrease

C）Tightmoneycausesrecessions

D）Thegreaterthemoneysupply,thegreaterthegrowthoftheeconomy

E）Noneoftheabove

8.OnthebasisoftheKeynesianmodelofoutputdetermination,equilibriumgrossdomestic

productisdescribedbyallbutwhichoneofthefollowing?

A）IntersectionofSSschedulewiththeIIschedule

B）Intersectionoftheconsumption-plus-savingschedulewiththeinvestmentschedule

C）Intendedinvestmentequalsactualinvestment

D）MaintainableC+Ispendingequalsproductionexpenses,includingprofit

E）IntersectionoftheC+Ilinewiththe45-degreeline

9.Whichofthefollowingbestdescribestheacceleratorprinciple?

C

A）Onceaneconomypassesapeak,thedeclinebecomesself-perpetuating

B）Aneconomyrecoveringfromatrough,firstgrowsfaster,thenslower

C）Investmentspendingisstimulatedbyagrowingeconomy;thisinturnencouragesmore

economicgrowth

D）Theaccelerate-principleisrelatedtolargeexternalshockstotheeconomy

E）Noneoftheabove

10.OnthebasisoftheKeynesianmodelofoutputdeterminationforaclosedeconomy,the

multipliercanbeexpressedalgebraicallyas:

A）1/MPC

B）1/MPC–1/MPS

C）1/（1-MPS）

D）1/MPS

E）MPC/MPS

11.WhichofthefollowingisanaccuratestatementaccordingtotheKeynesianmodel?

A）Pricesandwagesalwaysrespondquicklytoclearmarkets

B）TheaggregatesupplycurveisverticalabovepotentialGDP

C）ChangesinaggregatedemandcanaffectGDP,intheshortrunatleast,ifthereexist

unemployedresources

D）PolicyhasnoeffectonthelevelofemploymentbecauseitcannotchangethelevelofGDP

E）Alloftheabove

12.Areductioninlegalrequiredreserveratiowilltendto

A）Reducethemoneysupplyandreducecommercialbankloans

B）Reducethemoneysupplyandincreasecommercialbankloans

C）Increasethemoneysupplyandincreasecommercialbankloans

D）Increasethemoneysupplyanddecreasecommercialbankloans

E）Leavethemoneysupplyunaffected

13.ThepoweroftheFederalReservetoexpandthetotalmoneysupplyisconsiderablyrestricted

if:

A）Commercialbankswishtoholdnovaultcash

B）Commercialbanksareholdinglargeexcessreserves

C）Commercialbanksareholdingjusttherequiredamountofreserves

D）AllCommercialbanksaremembersoftheFederalReserve

E）Interestratesarehigh

14.Requiredreserveratios:

A）Existprimarilytoensurethatdepositsaresafe

B）ExisttopenalizebanksthatarememberoftheFederalReserveSystem

C）ExistprimarilytohelptheFedcontrolthemoneysupply

D）Existforalloftheabovereasons

E）Existfornoneoftheabovereasons

15.Iflegalrequiredreserveratiosareincreased,thenthereisatendencyfor:

A）Themoneysupplytodecreaseandcommercialbankloanstoincrease

B）Bothmoneysupplyandcommercialbankloanstodecrease

C）Themoneysupplytoincreaseandcommercialbankloanstodecrease

D）Bothmoneysupplyandcommercialbankloanstoincrease

E）Themoneysupplytodecreaseandcommercialbankloanstoremainunchanged

16.Areductioninreserverequirementsofmemberbankstendstocounterarecessionby:

A）Theissuingandredemptionofgoldcertificates

B）Consumer-creditcontrols

C）Discount-ratepolicy

D）Changesinbankreserverequirements

E）Open-marketoperations

17.TheFederalReserveauthorities’singlemostimportantstabilizingweaponis:

A）Theissuingandredemptionofgoldcertificates

B）Consumer-creditcontrols

C）Discount-ratepolicy

D）Changesinbankreserverequirements

E）Open-marketoperations

18.Raisingthediscountrate,ifeffective,tendsto:

A）Expendthemoneysupplyandlowerinterestrates

B）Expendthemoneysupplyandraiseinterestrates

C）Contractthemoneysupplyandraiseinterestrates

D）Contractthemoneysupplyandlowerinterestrates

E）Dononeoftheabove

19.Whichoneofthefollowingcombinationsrepresentsthetoolsofmonetarypolicythatare

mostavailabletotheFederalReserveintheeffectiveexerciseofmonetarypolicy?

A）Discount-ratepolicy,controloverstock-buyingmarginrequirements,andmoralsuasion

B）Moralsuasionandreserve-requirementchanges

C）Open-marketoperations,reserverequirementchanges,anddiscount-ratechanges

D）Discount-ratepolicyandreserve-requirementchanges

E）Reserve-requirementchangesandselectivecontrolsoverconsumerandmortgagecredit

20.InaMalthusiandevelopmentcontext,greaterrealwagerates

A）Arefosteredbylabor-savingdevices

B）Occurwithgreaterpopulation

C）Occurwithlessland

D）Areconsistentwithlesslaborperacre

E）Areconsistentwithmorelaborperacre

21.Capital-deepeningcoupledwithsteadyprofitratesandtechnologicalprogressmustresultin:

A）Ahighercapital-outputratio

B）Alowerinterestrate

C）Ahigherwagerate

D）Anincreaseinlabor’srelativeshareofGDP

E）Capitaldepreciationincreases

22.Technologicalchangecauses:

A）Adropinthereturnoncapital

B）Adropinthereturnonlabor

C）Areductionintherateofgrowth

D）Adecreaseintherateofcapitalaccumulation

E）Arightwardshiftintheproduction-possibilityfrontier

23.AccordingtotheSolowgrowthmodel,capitaldeepeningrefersto:

A）Theprocessbywhichthecapital-laborratioincreaseovertime

B）Technologicaladvancesincapitalequipmentovertime

C）Thedeclineineconomicgrowthresultingfromthedisplacementofworkersbycapital

equipment

D）Theself-perpetuatingcycleofgrowthbetweentechnologicaladvancesandcapitalequipment

E）Noneoftheabove

24.Thebackwardnesshypothesissuggeststhat:

A）Developingnationscandrawuponthecapital,skills,andtechnologyofmoreadvanced

nations

B）Today’sdevelopingeconomiesmaybeabletogrowmorerapidlythanthoseinthepast

C）Kuznet’sapproachtoeconomicgrowthmaybethemostaccurate

D）Alltheabove

E）AandBonly

25.Supposethatgovernmentspendingrises.Assumingthattheeconomyisoperatingat

potentialGDP,thelong-runeffectofthispolicychangeshouldbe:

A）Higherpriceswithnochangeinoutput

B）Higherpriceswithhigheroutput

C）Higherpriceswithloweroutput

D）Lowerpriceswithhigheroutput

E）Lowerpriceswithnochangeinoutput

26.Okun’sLawsuggeststhateveryreductionof2percentinGDPbelowpotentialGDPcanbe

expectedtobeassociatedwith:

A）A1percentreductioninunemployment

B）A1percentincreaseininflation

C）Anincreaseinunemploymentof1percentagepoint

D）Areductionininflationof1percentagepoint

E）Noneoftheabove

27.Structuralunemploymentisdefinedas:

A）Incessantmovementofpeoplebetweenregionsandjobsorthoroughdifferentstagesofthe

lifecycle

B）Amismatchbetweenthesupplyofandthedemandforworkers

C）Whentheoveralldemandforlaborislow

D）Whenpeoplearenotlookingforwork

E）Noneoftheabove

28.Atthenon-acceleratinginflationaryrateofunemployment（NAIRU）:

A）Unemploymentisaslowasitcanpossiblyget

B）Theunemploymentrateiszeropercent,orclosetoit

C）Inflationisstableandhasnotendencytochange

D）Structuralunemploymentiszeropercent

E）Alloftheabove

29.Ifinflationwerecausedbyasupply-sidepriceshock,then:

A）RealGDPwouldnecessarilyincrease

B）Itwouldbecostlessiftheeconomywereoperatingatitsfullpotential

C）RealGDPwouldbeexpectedtofall

D）Itcouldbeacceleratedbyasecondaryreductioninaggregatedemand

E）Noneoftheabove

30.Duringaperiodofhighinflation:

A）Borrowersarebetteroffbecausetheycanpayofftheirloanswithcurrencythatisworthless

B）Borrowersareworseoffbecausetheyhavetopayofftheirloanswithcurrencythatisworth

more

C）Lendersareworseoffbecausetheycannotfindanyonewhowantsaloan

D）Lendersareworseoffbecausetheyarerepaidwithcurrencythatisworthmore

E）Noneoftheabove

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