秋季学期宏观复习题Word下载.docx

1、 a. Social Security payments b. purchases of foreign goods and services c. purchases of newly constructed homes d. All of the above are correct.4. Suppose nominal GDP rose from $500 billion to $600 billion while the GDP deflator increased from 100 to 125. The real GDP （ ）a. remained constant b. incr

2、eased c. decreased d. cannot be calculated from these figures5. Which of the following is correct for an economy? a. Income is greater than production. b. Production is greater than income. c. Income always equals production. d. Income equals production only when saving is zero.6. The government rep

3、orts that GDP increased by 1.6 percent in the last quarter. This statement means that GDP increased （ ） a. by 6.4 percent for the year. b. at an annual rate of 6.4 percent during the last quarter. c. at an annual rate of 1.6 percent during the last quarter. d. at an annual rate of .4 percent during

4、the last quarter.7. The consumer price index is used to （ ） a. track changes in the level of wholesale prices in the economy. b. monitor changes in the cost of living. c. monitor changes in the level of real GDP. d. track changes in the stock market.8. Because the CPI is based on a fixed basket of g

5、oods, the introduction of new goods and services in the economy causes the CPI to overestimate the cost of living. This is so because （ ） a. new goods and services are always of higher quality than existing goods and services. b. new goods and services cost less than existing goods and services. c.

6、new goods and services cost more than existing goods and services. d. when a new good is introduced, it gives consumers greater choice, thus reducing the amount they must spend to maintain their standard of living.9. Which goods are supposed to be included in the CPI? a. all goods and services produ

7、ced in the economy b. all goods and services that typical consumers buy c. all goods and services in the consumption component of the GDP accounts d. all the goods, but not the services, in the consumption component of the GDP accounts10. When the relative price of a good increases, consumers will r

8、espond by buying （ ） a. more of it and its substitutes. b. less of it and its substitutes. c. less of it and more of its substitutes. d. more of it and less of its substitutes.11. In a simple circular-flow diagram total income and total expenditure are （ ） a. seldom equal because of the dynamic chan

9、ges which occur in an economy. b. equal only when all goods and services produced are sold. c. always equal because every transaction has a buyer and a seller. d. always equal because of accounting rules.12. Productivity （ ） a. is nearly the same across countries and so provides no help explaining d

10、ifferences across countries in the standard of living. b. explains very little of the differences across countries in the standard of living. c. explains some, but not most of the differences across countries in the standard of living. d. explains most of the differences across countries in the stan

11、dard of living.13. Which of the following is NOT correct? a. Countries that have had higher output growth per person have typically not done so with higher productivity growth. b. A countrys standard of living and its productivity are closely related. c. Productivity refers to output produced per ho

12、ur of work. d. Increases in productivity can be used to increase output or leisure.14. Which of the following is considered human capital? a. knowledge acquired from early childhood education programs b. knowledge acquired from grade school c. knowledge acquired from on-the-job training15. When a co

13、untry saves a larger portion of its GDP, it will have （ ） a. less investment, and so have more capital and higher productivity. b. less investment, and so have less capital and higher productivity. c. more investment, and so have more capital and higher productivity. d. more investment, and so have

14、less capital and higher productivity.16. Which of the following equations will always represent GDP in an open economy? a. S = I G b. I = Y - C + G c. Y = C + I + G d. Y = C + I + G + NX17. Which of the following is considered human capital? a. the comfortable chair in your dorm room where you read

15、economics texts b. the amount you get paid each week to work at the library c. the things you have learned this semester d. any capital goods that require a human to be present to operate 18. A budget surplus is created if （ ） a. the government sells more bonds than it buys back. b. the government s

16、pends more than it receives in tax revenue. c. private savings are greater than zero.19. Suppose that in a closed economy GDP is equal to 10,000, taxes are equal to 2,500 Consumption equals 6,500 and Government expenditures equal 2,000. What are private saving, public saving, and national saving? a.

17、 1500, 1000, 500 b. 1000, 500, 1500 c. 500, 1500, 1000 d. None of the above are correct.20. If the tax revenue of the federal government exceeds spending, then the government （ ） a. runs a budget deficit. b. runs a budget surplus. c. runs a national debt. d. will increase taxes.21. What is the futur

18、e value of $500 one year from today if the interest rate is 6 percent? a. $503 b. $515 c. $530 d. None of the front is correct.22. Lisa deposits $250 in an account and one year later has $270; what was the interest rate? （ ） a. 8 percent b. 9 percent c. 10 percent d. None of the above are correct.23

19、. A risk averse person has （ ） a. utility and marginal utility curves that slope upward. b. utility and marginal utility curves that slope downward. c. a utility curve that slopes down and a marginal utility curve that slopes upward. d. a utility curve that slopes upward and a marginal utility curve

20、 that slopes downward.24. The utility function of a risk-averse person has a （ ） a. positive slope and gets steeper as wealth increases.b. positive slope but gets flatter as wealth increases. c. negative slope but gets steeper as wealth increases. d. negative slope and gets flatter as wealth increas

21、es.25. Which of the following is a reason for diversification?a. to get the highest possible return b. to get the most dividendsc. to eliminate risk d. to reduce risk26. Diversification of a portfolio can （ ）a. reduce aggregate risk b. reduce idiosyncratic riskc. eliminate all risks d. increase the

22、standard deviation of the portfolios return27. Municipal bonds pay a （ ） a. low rate of interest because of their high-default risk and because the interest they pay is subject to federal income tax. b. low rate of interest because of their low-default risk and because the interest they pay is not s

23、ubject to federal income tax. c. high rate of interest because of their high-default risk and because federal taxes must be paid on the interest they pay. d. high rate of interest because of their low-default risk and because the interest they pay is not subject to federal income tax. 28. A mutual f

24、und （ ） a. is a financial market where small firms mutually agree to sell stocks and bonds to raise funds. b. is funds set aside by local governments to lend to small firms who want to invest in projects that are mutually beneficial to the firm and community. c. sells stocks and bonds on behalf of s

25、mall and less known firms who would otherwise have to pay high interest to obtain credit. d. is an institution that sells shares to the public and uses the proceeds to buy a selection of various types of stocks, bonds, or both stocks and bonds.29. The supply of loanable funds curve is upward sloping

26、 because a rise in the interest rate （ ） a. decreases the opportunity cost of firms investment spending. b. increases the opportunity cost of firms investment spending. c. decreases the opportunity cost to households of consuming. d. increases the opportunity cost to households of consuming.30. The

27、labor force equals the （ ） a. number of people who are employed. b. number of people who are unemployed. c. number of people employed plus the number of people unemployed. （ ） d. adult population.31. A college student who is not working or looking for a job is counted as （ ） a. neither employed nor

28、part of the labor force. b. unemployed and in the labor force. c. unemployed, but not in the labor force. d. employed and in the labor force.32.Total population29.7Adult population21.2Number of unemployed1.2Number of employed12.1According to the statistics, the labor force is （ ）a. 12.1 million b. 1

29、3.3 million c. 20.0 million d. 21.2 million33. Most economists agree that eliminating unemployment insurance would （ ） a. increase unemployment because people would quit jobs they thought were not secure. b. increase unemployment because if the government didnt provide unemployment insurance, private firms would offer superior insurance. c. reduce unemployment and so improve economic well-being. d. reduce unemployment,