货币银行学题库国际商学经济学 28.docx

货币银行学题库国际商学经济学 28.docx

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货币银行学题库国际商学经济学28

1Chapter27

MoneyandInflation

2 MultipleChoice

1）Theconditionofacontinuallyrisingpricelevelisdefinedas

（a）stagflation.

（b）stagnation.

（c）disinflation.

（d）inflation.

Answer:

D

QuestionStatus:

PreviousEdition

2）Theeconomistwhoproposedthat,“Inflationisalwaysandeverywhereamonetaryphenomenon”was

（a）JohnMaynardKeynes.

（b）JohnR.Hicks.

（c）MiltonFriedman.

（d）FrancoModigliani.

Answer:

C

QuestionStatus:

PreviousEdition

3）MonetaristsandKeynesiansbothagreewithMiltonFriedmanthat

（a）thedemandformoneyisinsensitivetochangesintheinterestrate.

（b）velocityispredictableandfairlyconstant.

（c）inflationisamonetaryphenomenon.

（d）thepricelevelandthemoneysupplyareunrelated.

（e）alloftheabovearetrue.

Answer:

C

QuestionStatus:

PreviousEdition

4）CompleteMiltonFriedman’sfamousproposition:

“Inflationisalwaysandeverywherea_____phenomenon.”

（a）monetary

（b）political

（c）policy

（d）budgetary

Answer:

A

QuestionStatus:

PreviousEdition

5）Atfirstcut,thesimplesolutiontofightinginflationis

（a）reducingthegrowthrateofthemoneysupply.

（b）limitingthenumberoftermsthatpoliticianscanserveinelectiveoffice.

（c）returningtheeconomytobarterbyprohibitingtheuseoffiatmoney.

（d）toimposepricecontrolsonbusinessesthatattempttoraiseprices.

Answer:

A

QuestionStatus:

PreviousEdition

6）“Howdowepreventtheinflationaryfirefromignitingagainandstoptherollercoasterrideintheinflationrateofthelast40years?

”MiltonFriedman’sfamouspropositionsuggeststhesimplesolution:

（a）reducethenumberoftermsthatpoliticiansareallowedtoserve.

（b）reducethegrowthrateofthemoneysupply.

（c）reducethemarginaltaxrateonlow-incomewageearners.

（d）increasethemarginaltaxratesonbusinessesthathikepricesinexcessof5percentperyear.

Answer:

B

QuestionStatus:

Revised

7）MiltonFriedman’spropositionconcerningthecauseofinflationimpliesasimplesolutiontotheinflationproblem:

（a）reducegovernmentbudgetdeficits.

（b）limittheabilityoffiscalpolicymakerstobringpressuretobearonthemonetaryauthority.

（c）limitthenumberoftermsthatpoliticiansareallowedtoserve.

（d）reducethegrowthrateofthemoneysupply.

Answer:

D

QuestionStatus:

PreviousEdition

8）MiltonFriedman’spropositionthatinflationisalwaysandeverywhereamonetaryphenomenonholdsonlyif

（a）governmentbudgetdeficitsdonotrisecontinually.

（b）theunemploymentratedoesnotrisecontinually.

（c）thepricelevelrisescontinually.

（d）theUnitedStatesdoesnotexperiencemorethanonenegativesupplyshockperdecade.

Answer:

C

QuestionStatus:

PreviousEdition

9）Themonetarists’propositionthatinflationisalwaysandeverywhereamonetaryphenomenonholdsonlyif

（a）governmentbudgetdeficitsdonotrisecontinually.

（b）theunemploymentratedoesnotrisecontinually.

（c）thepricelevelrisescontinually.

（d）theUnitedStatesdoesnotexperiencemorethanonenegativesupplyshockperdecade.

Answer:

C

QuestionStatus:

PreviousEdition

10）TheKeynesiansarewillingtoacceptthemonetarists’propositionthatinflationisamonetaryphenomenonundertheconditionthat

（a）governmentbudgetdeficitsdonotrisecontinually.

（b）theunemploymentratedoesnotrisecontinually.

（c）thepricelevelrisescontinually.

（d）theUnitedStatesdoesnotexperiencemorethanonenegativesupplyshockperdecade.

Answer:

C

QuestionStatus:

PreviousEdition

11）Inflationoccurswhenever

（a）thepricelevelrises.

（b）themoneysupplyincreases.

（c）thepricelevelrisescontinuouslyoveraperiodoftime.

（d）thepricelevelfallscontinuouslyoveraperiodoftime.

（e）noneoftheaboveoccur.

Answer:

C

QuestionStatus:

StudyGuide

12）Evidencestronglysupportstheviewthatcountrieswithhighinflationalsohave

（a）thelowestnominalinterestrates.

（b）thehighestratesofmoneygrowth.

（c）thesmallestbudgetdeficits.

（d）thelowestinterestrates.

Answer:

B

QuestionStatus:

PreviousEdition

13）Countrieswiththehighestinflationratesarelikelytohave

（a）thehighestratesofmoneygrowth.

（b）largebudgetdeficits.

（c）thelowestinterestrates.

（d）both（a）and（b）oftheabove.

Answer:

D

QuestionStatus:

PreviousEdition

14）Countrieswiththehighestinflationratesarelikelytohave

（a）thehighestratesofmoneygrowth.

（b）smallbudgetdeficitsrelativetoGDP.

（c）thelowestinterestrates.

（d）alloftheabove.

Answer:

A

QuestionStatus:

PreviousEdition

15）Thepropositionthatinflationistheresultofahighrateofmoneygrowthis

（a）notsupportedbyevidencefromtheGermanhyperinflation.

（b）heldonlybysociologistsandisnolongerbelievedbyeconomists.

（c）supportedbyevidencefrominflationaryepisodesthroughouttheworld.

（d）largelyapoliticalfabricationdesignedtomaketheFedascapegoatforpoorfiscalpolicy.

Answer:

C

QuestionStatus:

Revised

16）Whichofthefollowingwouldprovidethestrongestevidencethatrapidmoneygrowthisthedrivingforcebehindinflation?

（a）Anendogenousincreaseinthemoneysupplythatprecededtheonsetofinflation

（b）Anexogenousincreaseinthemoneysupplythatprecededtheonsetofinflation

（c）Anendogenousincreaseinthemoneysupplythatlaggedtheonsetofinflation

（d）Anexogenousincreaseinthemoneysupplythatlaggedtheonsetofinflation

Answer:

B

QuestionStatus:

PreviousEdition

17）TheGermanhyperinflationof1921–1923providesimportantsupportfortheviewthathighmoneygrowthcauseshighinflationbecause

（a）thegrowthintheGermanmoneysupplyappearstohavebeenduetoexogenousforces.

（b）reversecausationinthiscaseishighlyimplausible.

（c）itishardtoimagineathirdfactorthatcouldhavebeenthedrivingforcebehindbothinflationandexplosionintheGermanmoneysupply.

（d）ofalloftheabove.

（e）ofonly（a）and（b）oftheabove.

Answer:

D

QuestionStatus:

PreviousEdition

18）TheinitiatingcausesoftheinflationarymonetarypolicyadoptedbytheGermanauthoritiesintheearly1920sincluded

（a）thegovernment’sunwillingnesstoraisetaxestofinancewarreparations.

（b）thegovernment’sinabilitytoborrowsufficientfundstofinanceitsexpenditures.

（c）thegovernment’sunwillingnesstoprintadditionalfiatcurrency.

（d）alloftheabove.

（e）only（a）and（b）oftheabove.

Answer:

E

QuestionStatus:

New

19）TheGermanauthoritiesintheearly1920sappeartohaveresortedtoincreasingthemoneysupplyasawayofraisingrevenuesbecause

（a）raisingtaxeswouldhavebeenpoliticallyunpopular.

（b）raisingtaxeswouldhavebeenunconstitutional.

（c）therewasnowaytocollecttaxesinthosedays.

（d）noneoftheabove.

Answer:

A

QuestionStatus:

PreviousEdition

20）TheGermanhyperinflationofthe1920ssupportsthepropositionthatexcessivemonetarygrowthcausesinflationandnottheotherwayaroundsincetheincreaseinmonetarygrowthappearstohavebeen

（a）unintentional.

（b）intentional.

（c）simultaneous.

（d）exogenous.

（e）endogenous.

Answer:

D

QuestionStatus:

StudyGuide

21）EvidenceforLatinAmericancountriesovertheten-yearperiod1989–1999indicatesthat

（a）ineverycaseinwhichacountry’sinflationrateisextremelyhighforanysustainedperiodoftime,itsrateofmoneygrowthisextremelyhigh.

（b）acountrycanexperiencehighinflationforasustainedperiodoftimewithoutanincreaseinitsrateofmoneygrowth.

（c）acountrycanexperienceasignificantincreaseinitsmoneysupplyforasustainedperiodoftimewithoutanincreaseinitsrateofinflation.

（d）both（b）and（c）abovearepossible.

Answer:

A

QuestionStatus:

Revised

22）Aone-timeincreaseinthepricelevel

（a）israrelyreportedbythenewsmediaasinflation,butisneverthelessconsideredtobeinflationbyeconomists.

（b）isregularlyreportedbythenewsmediaasinflation,butisnotconsideredtobeinflationbyeconomists.

（c）israrelyreportedbythenewsmediaasinflationbecauseitisnotconsideredtobeinflationbyeconomists.

（d）isregularlyreportedbythenewsmediaasinflationbecauseitisconsideredtobeinflationbyeconomists.

Answer:

B

QuestionStatus:

PreviousEdition

23）Aone-timeincreaseinthemoneysupply

（a）issynonymouswithinflation.

（b）cannotcauseinflation.

（c）leadstoanincreaseinthepricelevel.

（d）resultsinboth（a）and（c）oftheabove.

（e）resultsinboth（b）and（c）oftheabove.

Answer:

E

QuestionStatus:

PreviousEdition

24）Ifinflationisdefinedasaconditionofacontinually,rapidlyrisingpricelevel,then

（a）monetaristscontendthatinflationisamonetaryphenomenon.

（b）Keynesiansarewillingtoacceptthatinflationisamonetaryphenomenon.

（c）Keynesiansareunwillingtoacceptthatinflationisamonetaryphenomenon.

（d）both（a）and（b）oftheabove.

Answer:

D

QuestionStatus:

PreviousEdition

25）Ifinflationisdefinedasaconditionofacontinually,rapidlyrisingpricelevel,then

（a）Keynesianscontendthatinflationisnotamonetaryphenomenon.

（b）monetaristsareunwillingtoacceptthatinflationisamonetaryphenomenon.

（c）both（a）and（b）oftheabove.

（d）neither（a）nor（b）oftheabove.

Answer:

D

QuestionStatus:

PreviousEdition

26）Ifinflationisdefinedasaconditionofacontinually,rapidlyrisingpricelevel,then

（a）monetaristsareunwillingtoacceptthatinflationisamonetaryphenomenon.

（b）Keynesiansarewillingtoacceptthatinflationisamonetaryphenomenon.

（c）Keynesiansareunwillingtoacceptthatinflationisamonetaryphenomenon.

（d）both（a）and（b）oftheabove.

Answer:

B

QuestionStatus:

PreviousEdition

27）Wheninflationi