米什金 货币金融学 英文版习题答案chapter 21英文习题Word文档下载推荐.docx

1、C） the high unemployment in Great Britain before World War I.D） the high unemployment in Great Britain after World War II. B3） Keynes was especially interested in explaining movements of _ because he wanted to explain why the Great Depression had occurred and how government policy could be used to i

2、ncrease _ in a similar economic situation.A） aggregate output; wagesB） aggregate output; employmentC） wage rates;D） wage rates;4） Keynes was especially concerned with explaining theA） recession of 1920-21.B） low levels of output and employment during the Great Depression.C） strong economic growth of

3、 the 1920s.D） high unemployment in Great Britain during the 1920s.5） Keynes was especially concerned with explaining the _ level of output and employment during the _.A） low; 1920sB） low; 1930sC） high;D） high;6） In the simple Keynesian model, equilibrium aggregate output is determined byA） aggregate

4、 demand.B） aggregate supply.C） the national demand for labor.D） the price level.7） Under Keynesian analysis, aggregate demand can be written asA） Yad = C + I + G + NX.B） Yad = C + I + G - NX.C） Yad = C - I - G - NX.D） Yad = C + I - G - NX.21.2 The Components of Aggregate Demand1） Keynes reasoned tha

5、t consumer expenditure is most closely related toA） the level of interest rates.B） the price level.C） disposable income.D） the marginal tax rate. C2） In the Keynesian model of income determination, consumer expenditure includes spending byA） consumers on personal computers.B） businesses on personal

6、computers.C） governments on personal computers.D） foreigners on domestic personal computers.3） The marginal propensity to consume （mpc） can be defined as the fraction ofA） a change in income that is spent.B） a change in income that is saved.C） income that is spent.D） income that is saved.4） If the c

7、onsumption function is expressed as C = a + mpc YD, then mpc representsA） autonomous consumer expenditure.B） the marginal propensity to consume.C） the expenditure multiplier.D） disposable income.5） If the consumption function is expressed as C = a + mpc a6） If the consumption function is C = 20 + 0.

8、5YD, then an increase in disposable income by $100 will result in an increase in consumer expenditure byA） $25.B） $70.C） $50.D） $100. Analytical Thinking7） If the consumption function is C = 20 + 0.8YD, then an increase in disposable income by $100 will result in an increase in consumer expenditure

9、byA） $58.B） $64.C） $80.8） Assume that autonomous consumption equals $200 and that the mpc equals 0.8. If disposable income equals $1000, then total consumption equalsA） $80.B） $200.C） $800.D） $1000. D9） Assume that autonomous consumption equals $200 and disposable income equals $1000. If total consu

10、mption equal $800, then the mpc equalsA） 0.2.B） 0.6.C） 0.8.D） 1.0.10） Assume that disposable income equals $1000 and the mpc equals 0.6. If total consumption equal $800, then autonomous consumption is equal toA） $0.11） Everything else held constant, if total consumption increases from $600 to $800 b

11、ecause of an increase of disposable income of $400, then the mpc is equal to B） 0.4.C） 0.5.D） 0.6.12） Everything else held constant, if consumption expenditure increases by 65 for a 100 increase in disposable income, the mpc isA） 0.B） 0.5.C） 0.65.D） 1.13） Everything else held constant, if disposable

12、 income increases by 200 and consumption expenditure increases by 150, the mpc isB） 0.15.D） 0.75.14） Everything else held constant, if consumption expenditure falls by 160 when disposable income falls by 200, the mpc isB） 0.2.C） 0.4.D） 0.8.15） Economists define investment as the purchase ofA） a new

13、physical asset such as a new machine or a new house.B） any physical asset, whether new or not, used by business to increase production.C） any physical asset used by business to increase production and the repurchase of common stock.D） business spending on capital and household spending on durable go

14、ods.16） Planned investment spending, a component of aggregate demand, is equal toA） fixed investment plus actual inventory investment.B） fixed investment plus unplanned inventory investment.C） fixed investment.D） fixed investment plus planned inventory investment.17） There are two types of investmen

15、t: _ investmentthe spending by business firms on equipment and structures, and planned spending on residential housesand _ investmentspending by business firms on additional holdings of raw materials, parts, and finished goods.A） planned; grossB） planned; inventoryC） fixed;D） fixed;18） A fall in inv

16、entories is synonymous with _ investment.A） negative fixedB） positive fixedC） positive inventoryD） negative inventory19） A difference between inventory investment and fixed investment is thatA） fixed investment is never unplanned.B） fixed investment is never planned.C） inventory investment is never

17、unplanned.D） unplanned inventory investment is always zero.20） Keynes mentioned two factors that influenced planned investment spendingA） interest rates and disposable income.B） interest rates and business expectations about the future.C） disposable income and business expectations about the future.

18、D） interest rates and business expectations about inflation.21） Factors that influenced planned investment spending includeA） real interest rates.B） financial frictions.C） emotional waves of optimism and pessimism.D） all of the above.E） A and C.22） Planned investment spending is higherA） when real i

19、nterest rate is higher.B） during financial frictions.C） when businesses are optimistic.23） Aggregate demand in an economy with no government or foreign trade isA） consumer expenditure plus actual investment.B） consumer expenditure plus planned investment.C） consumer expenditure plus inventory invest

20、ment.D） consumer expenditure plus fixed investment.21.3 Goods Market Equilibrium1） If unplanned investment is positive, firms will _ production and output will _.A） cut; riseB） cut; fallC） increase;D） increase;2） If unplanned investment is negative, firms will _ production and output will _.3） In th

21、e Keynesian framework, as long as output is below the equilibrium level, unplanned inventory investment will remain _ and firms will continue to _ production.A） negative; lowerB） negative; raiseC） positive;D） positive;4） In the Keynesian framework, as long as output is _ the equilibrium level, unpla

22、nned inventory investment will remain _ and firms will continue to raise production.A） below; negativeB） above;C） below; positiveD） above;5） In the Keynesian framework, as long as output is _ the equilibrium level, unplanned inventory investment will remain _ and firms will continue to lower product

23、ion.6） In the Keynesian framework, as long as output is _ the equilibrium level, unplanned inventory investment will remain positive and firms will continue to _ production.7） In the Keynesian framework, as long as output is above the equilibrium level, unplanned inventory investment will remain _ and firms wil