完整版中级宏观经济学付费版题库10经济波动导论.docx
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完整版中级宏观经济学付费版题库10经济波动导论
Name:
__________________________Date:
_____________
1.
Businesscyclesare:
A)
regularandpredictable.
B)
irregularbutpredictable.
C)
regularbutunpredictable.
D)
irregularandunpredictable.
2.
Short-runfluctuationsinoutputandemploymentarecalled:
A)
sectoralshifts.
B)
theclassicaldichotomy.
C)
businesscycles.
D)
productivityslowdowns.
3.
Recessionstypically,butnotalways,includeatleast______consecutivequartersofdecliningrealGDP.
A)
two
B)
four
C)
six
D)
eight
4.
Overthebusinesscycle,investmentspending______consumptionspending.
A)
isinverselycorrelatedwith
B)
ismorevolatilethan
C)
hasaboutthesamevolatilityas
D)
islessvolatilethan
5.
WhenGDPgrowthdeclines,investmentspendingtypically______andconsumptionspendingtypically______.
A)
increases;increases
B)
increases;decreases
C)
decreases;decreases
D)
decreases;increases
6.
Okun'slawisthe______relationshipbetweenrealGDPandthe______.
A)
negative;unemploymentrate
B)
negative;inflationrate
C)
positive;unemploymentrate
D)
positive;inflationrate
7.
ThestatisticalrelationshipbetweenchangesinrealGDPandchangesintheunemploymentrateiscalled:
A)
thePhillipscurve.
B)
theSolowresidual.
C)
theFishereffect.
D)
Okun'slaw.
8.
TheversionofOkun'slawstudiedinChapter10assumesthatwithnochangeinunemployment,realGDPnormallygrowsby3percentoverayear.Iftheunemploymentrateroseby2percentagepointsoverayear,Okun'slawpredictsthatrealGDPwould:
A)
decreaseby1percent.
B)
decreaseby2percent.
C)
decreaseby3percent.
D)
increaseby1percent.
9.
TheversionofOkun'slawstudiedinChapter10assumesthatwithnochangeinunemployment,realGDPnormallygrowsby3percentoverayear.Iftheunemploymentratefellby1percentagepointoverayear,Okun'slawpredictsthatrealGDPwould:
A)
decreaseby1percent.
B)
decreaseby2percent.
C)
increaseby4percent.
D)
increaseby5percent.
10.
Long-rungrowthinrealGDPisdeterminedprimarilyby______,whileshort-runmovementsinrealGDPareassociatedwith______.
A)
variationsinlabor-marketutilization;technologicalprogress
B)
technologicalprogress;variationsinlabor-marketutilization
C)
moneysupplygrowthrates;changesinvelocity
D)
changesinvelocity;moneysupplygrowthrates
11.
Leadingeconomicindicatorsare:
A)
themostpopulareconomicstatistics.
B)
datathatareusedtoconstructtheconsumerpriceindexandtheunemploymentrate.
C)
variablesthattendtofluctuateinadvanceoftheoveralleconomy.
D)
standardizedstatisticscompiledbytheNationalBureauofEconomicResearch.
12.
AdeclineintheIndexofSupplierDeliveriesistypicallyanindicatorofafuture_____ineconomicproduction,andanarrowingoftheinterestratespreadbetweenthe10-yearTreasurynoteand3-monthTreasurybillistypicallyanindicatorofafuture_____ineconomicproduction.
A)
increase;slowdown
B)
increase;increase
C)
slowdown;increase
D)
slowdown;slowdown
13.
TheindexofleadingindicatorscompiledbytheConferenceBoardincludes10dataseriesthatareusedtoforecasteconomicactivityabout______inadvance.
A)
onemonth
B)
sixtoninemonths
C)
onetotwoyears
D)
fivetotenyears
14.
Measuresofaverageworkweeksandofsupplierdeliveries(vendorperformance)areincludedintheindexofleadingindicators,becauseshorterworkweekstendtoindicate______futureeconomicactivityandslowerdeliveriestendtoindicate______futureeconomicactivity.
A)
stronger;stronger
B)
stronger;weaker
C)
weaker;stronger
D)
weaker;weaker
15.
Mosteconomistsbelievethatpricesare:
A)
flexibleintheshortrunbutmanyarestickyinthelongrun.
B)
flexibleinthelongrunbutmanyarestickyintheshortrun.
C)
stickyinboththeshortandlongruns.
D)
flexibleinboththeshortandlongruns.
16.
Mosteconomistsbelievethattheclassicaldichotomy:
A)
holdsapproximatelyinboththeshortrunandthelongrun.
B)
holdsapproximatelyinthelongrunbutnotatallintheshortrun.
C)
holdsapproximatelyintheshortrunbutnotatallinthelongrun.
D)
doesnotholdevenapproximatelyineitherthelongrunortheshortrun.
17.
A5percentreductioninthemoneysupplywill,accordingtomosteconomists,reduceprices5percent:
A)
inboththeshortandlongruns.
B)
inneithertheshortnorlongrun.
C)
intheshortrunbutleadtounemploymentinthelongrun.
D)
inthelongrunbutleadtounemploymentintheshortrun.
18.
Monetaryneutrality,theirrelevanceofthemoneysupplyindeterminingvaluesof_____variables,isgenerallythoughttobeapropertyoftheeconomyinthelongrun.
A)
real
B)
nominal
C)
realandnominal
D)
neitherrealnornominal
19.
AlanBlinder'ssurveyoffirmsfoundthatthetypicalfirmadjustsitsprices:
A)
morethanonceaweek.
B)
aboutonceamonth.
C)
onceortwiceayear.
D)
lessthanonceayear.
20.
AlanBlinder'ssurveyoffirmsfoundthatthetheoryofpricestickinessacceptedbythemostfirmswas:
A)
menucosts.
B)
coordinationfailure.
C)
nominalcontracts.
D)
procyclicalelasticity.
21.
AllofthefollowingaresuggestedbytheresultsofAlanBlinder'ssurveyoffirmsexcept:
A)
thereisonlyonetheoryofpricestickiness.
B)
coordinatingwageandpricesettingcouldimprovewelfare.
C)
reasonsforpricestickinessvarybyindustry.
D)
activistmonetarypolicycanbeusedtocurerecessions.
22.
Adifferencebetweentheeconomiclongrunandtheshortrunisthat:
A)
theclassicaldichotomyholdsintheshortrunbutnotinthelongrun.
B)
monetaryandfiscalpolicyaffectoutputonlyinthelongrun.
C)
demandcanaffectoutputandemploymentintheshortrun,whereassupplyistherulingforceinthelongrun.
D)
pricesandwagesarestickyinthelongrunonly.
23.
Theaggregatedemandcurveisthe______relationshipbetweenthequantityofoutputdemandedandthe______.
A)
positive;moneysupply
B)
negative;moneysupply
C)
positive;pricelevel
D)
negative;pricelevel
24.
Therelationshipbetweenthequantityofoutputdemandedandtheaggregatepriceleveliscalled:
A)
aggregatedemand.
B)
aggregatesupply.
C)
aggregateoutput.
D)
aggregateconsumption.
25.
IfanaggregatedemandcurveisdrawnwithrealGDP(Y)alongthehorizontalaxisandthepricelevel(P)alongtheverticalaxis,usingthequantitytheoryofmoneyasatheoryofaggregatedemand,thiscurveslopes______totherightandgets______asitmovesfarthertotheright.
A)
downward;steeper
B)
downward;flatter
C)
upward;steeper
D)
upward;flatter
26.
Theassumptionofconstantvelocityinthequantityequationistheequivalentoftheassumptionofaconstant:
A)
short-runaggregatesupplycurve.
B)
long-runaggregatesupplycurve.
C)
pricelevelintheshortrun.
D)
demandforrealbalancesperunitofoutput.
27.
Alonganaggregatedemandcurve,whichofthefollowingareheldconstant?
A)
realoutputandprices
B)
nominaloutputandvelocity
C)
themoneysupplyandrealoutput
D)
themoneysupplyandvelocity
28.
Accordingtothequantitytheoryofmoney,ifoutputishigher,______realbalancesarerequired,andforfixedMthismeans______P.
A)
higher;lower
B)
lower;higher
C)
higher;higher
D)
lower;lower
29.
Accordingtothequantityequation,ifthevelocityofmoneyandthesupplyofmoneyarefixed,andthepricelevelincreases,thenthequantityofgoodsandservicespurchased:
A)
increases.
B)
decreases.
C)
doesnotchange.
D)
mayeitherincreaseordecrease.
30.
Forafixedmoneysupply,theaggregatedemandcurveslopesdownwardbecauseatalowerpricelevelrealmoneybalancesare______,generatinga______quantityofoutputdemanded.
A)
higher;greater
B)
higher;smaller
C)
lower;greater
D)
lower;smaller
31.
Theaggregatedemandcurvetellsuspossible:
A)
combinationsofMandYforagivenvalueofP.
B)
combinationsofMandPforagivenvalueofY.
C)
combinationsofPandYforagivenvalueofM.
D)
resultsiftheFederalReservereducesthemoneysupply.
32.
WhenanaggregatedemandcurveisdrawnwithrealGDP(Y)alongthehorizontalaxisandthepricelevel(P)alongtheverticalaxis,ifthemoneysupplyisdecreased,thentheaggregatedemandcurvewillshift:
A)
downwardandtotheleft.
B)
downwardandtotheright.
C)
upwardandtotheleft.
D)
upwardandtotheright.
33.
WhentheFederalReservereducesthemoneysupply,atagivenpriceleveltheamountofoutputdemandedis______andtheaggregatedemandcurveshifts______.
A)
greater;inward
B)
greater;outward
C)
lower;inward
D)
lower;outward
34.
WhentheFederalReserveincreasesthemoneysupply,atagivenpriceleveltheamountofoutputdemandedis______andtheaggregatedemandcurveshifts______.
A)
greater;inward
B)
greater;outward
C)
lower;inward
D)
lower;outward
35.
Lookingattheaggregatedemandcurvealone,onecantell______thatwillprevailintheeconomy.
A)
thequantityofoutputandthepric