宏观经济学选择题 题集 全.docx

1、宏观经济学选择题 题集 全宏观经济学选择题 题集 全1. The goals of macroeconomic policy include: EA) high employmentB) low unemploymentC) stable pricesD) growing real GDPE) all of the above2. Suppose that in a particular year, nominal GDP is less than real GDP. This implies that:EA) inflation is lowB) inflation is highC) th

2、e year in question prior to the base yearD) the year in question after the base yearE) the answer cannot be determined from the information given3. The two approaches that economists use to measure GDP are:EA) the goods flow and investment flowB) current surveys and historical dataC) the product flo

3、w and spending flowD) household tax returns and corporate tax returnsE) the product flow and the earnings flow4. What must be done to equalize the flow-of-product and the earnings or cost approaches?AA) Intermediate goods must be subtracted from the flow-of-product sumB) Profits must be considered a

4、 residual costC) Imputed rents must be excludedD) The dollar value of services produced mustbe included in the flow-of-productE) Transfer payments by the government must be included in the flow-of-cost approach5. The MPC is the ratio ofAA) Extra consumption to extra incomeB) Extra consumption to ext

5、ra savingC) Extra consumption to total incomeD) Total consumption to total incomeE) Break-even consumption to break-even income6. Which of the following is not considered a category of investment?AA) Stock and bond purchases.B) Purchases of plant and equipmentC) Purchases adding to inventoriesD) Res

6、idential housing constructionE) None of above7. Which of the following best describes the money-supply effect?AA) As prices rise, tight money leads to a decrease in total real spendingB) As the Fed injects more money into the economy, prices increaseC) Tight money causes recessionsD) The greater the

7、 money supply, the greater the growth of the economyE) None of the above8. On the basis of the Keynesian model of output determination, equilibrium gross domesticproduct is described by all but which one of the following?A) Intersection of SS schedule with the II scheduleB) Intersection of the consu

8、mption-plus-saving schedule with the investment scheduleC) Intended investment equals actual investmentD) Maintainable C+I spending equals production expenses, including profitE) Intersection of the C+I line with the 45-degree line9. Which of the following best describes the accelerator principle?CA

9、) Once an economy passes a peak, the decline becomes self-perpetuatingB) An economy recovering from a trough, first grows faster, then slowerC) Investment spending is stimulated by a growing economy; this in turn encourages moreeconomic growthD) The accelerate-principle is related to large external

10、shocks to the economyE) None of the above10. On the basis of the Keynesian model of output determination for a closed economy, themultiplier can be expressed algebraically as:A) 1/MPCB) 1/MPC 1/MPSC) 1/(1-MPS)D) 1/MPSE) MPC/MPS11. Which of the following is an accurate statement according to the Keyn

11、esian model?A) Prices and wages always respond quickly to clear marketsB) The aggregate supply curve is vertical above potential GDPC) Changes in aggregate demand can affect GDP, in the short run at least, if there existunemployed resourcesD) Policy has no effect on the level of employment because i

12、t cannot change the level of GDPE) All of the above12. A reduction in legal required reserve ratio will tend toA) Reduce the money supply and reduce commercial bank loansB) Reduce the money supply and increase commercial bank loansC) Increase the money supply and increase commercial bank loansD) Inc

13、rease the money supply and decrease commercial bank loansE) Leave the money supply unaffected13. The power of the Federal Reserve to expand the total money supply is considerably restrictedif:A) Commercial banks wish to hold no vault cashB) Commercial banks are holding large excess reservesC) Commer

14、cial banks are holding just the required amount of reservesD) All Commercial banks are members of the Federal ReserveE) Interest rates are high14. Required reserve ratios:A) Exist primarily to ensure that deposits are safeB) Exist to penalize banks that are member of the Federal Reserve SystemC) Exi

15、st primarily to help the Fed control the money supplyD) Exist for all of the above reasonsE) Exist for none of the above reasons15. If legal required reserve ratios are increased, then there is a tendency for:A) The money supply to decrease and commercial bank loans to increaseB) Both money supply a

16、nd commercial bank loans to decreaseC) The money supply to increase and commercial bank loans to decreaseD) Both money supply and commercial bank loans to increaseE) The money supply to decrease and commercial bank loans to remain unchanged16. A reduction in reserve requirements of member banks tend

17、s to counter a recession by:A) The issuing and redemption of gold certificatesB) Consumer-credit controlsC) Discount-rate policyD) Changes in bank reserve requirementsE) Open-market operations17. The Federal Reserve authorities single most important stabilizing weapon is:A) The issuing and redemptio

18、n of gold certificatesB) Consumer-credit controlsC) Discount-rate policyD) Changes in bank reserve requirementsE) Open-market operations18. Raising the discount rate, if effective, tends to:A) Expend the money supply and lower interest ratesB) Expend the money supply and raise interest ratesC) Contr

19、act the money supply and raise interest ratesD) Contract the money supply and lower interest ratesE) Do none of the above19. Which one of the following combinations represents the tools of monetary policy that aremost available to the Federal Reserve in the effective exercise of monetary policy?A) D

20、iscount-rate policy , control over stock-buying margin requirements, and moral suasionB) Moral suasion and reserve-requirement changesC) Open-market operations, reserve requirement changes, and discount-rate changesD) Discount-rate policy and reserve-requirement changesE) Reserve-requirement changes

21、 and selective controls over consumer and mortgage credit20. In a Malthusian development context, greater real wage ratesA) Are fostered by labor-saving devicesB) Occur with greater populationC) Occur with less landD) Are consistent with less labor per acreE) Are consistent with more labor per acre2

22、1. Capital-deepening coupled with steady profit rates and technological progress must result in:A) A higher capital-output ratioB) A lower interest rateC) A higher wage rateD) An increase in labors relative share of GDPE) Capital depreciation increases22. Technological change causes:A) A drop in the

23、 return on capitalB) A drop in the return on laborC) A reduction in the rate of growthD) A decrease in the rate of capital accumulationE) A rightward shift in the production-possibility frontier23. According to the Solow growth model, capital deepening refers to:A) The process by which the capital-l

24、abor ratio increase over timeB) Technological advances in capital equipment over timeC) The decline in economic growth resulting from the displacement of workers by capitalequipmentD) The self-perpetuating cycle of growth between technological advances and capital equipmentE) None of the above24. Th

25、e backwardness hypothesis suggests that:A) Developing nations can draw upon the capital, skills, and technology of more advancednationsB) Todays developing economies may be able to grow more rapidly than those in the pastC) Kuznets approach to economic growth may be the most accurateD) All the above

26、E) A and B only25. Suppose that government spending rises. Assuming that the economy is operating atpotential GDP, the long-run effect of this policy change should be:A) Higher prices with no change in outputB) Higher prices with higher outputC) Higher prices with lower outputD) Lower prices with hi

27、gher outputE) Lower prices with no change in output26. Okuns Law suggests that every reduction of 2 percent in GDP below potential GDP can beexpected to be associated with:A) A 1 percent reduction in unemploymentB) A 1 percent increase in inflationC) An increase in unemployment of 1 percentage point

28、D) A reduction in inflation of 1 percentage pointE) None of the above27. Structural unemployment is defined as:A) Incessant movement of people between regions and jobs or thorough different stages of thelife cycleB) A mismatch between the supply of and the demand for workersC) When the overall deman

29、d for labor is lowD) When people are not looking for workE) None of the above28. At the non-accelerating inflationary rate of unemployment(NAIRU):A) Unemployment is as low as it can possibly getB) The unemployment rate is zero percent, or close to itC) Inflation is stable and has no tendency to chan

30、geD) Structural unemployment is zero percentE) All of the above29. If inflation were caused by a supply-side price shock, then:A) Real GDP would necessarily increaseB) It would be costless if the economy were operating at its full potentialC) Real GDP would be expected to fallD) It could be accelera

31、ted by a secondary reduction in aggregate demandE) None of the above30. During a period of high inflation:A) Borrowers are better off because they can pay off their loans with currency that is worth lessB) Borrowers are worse off because they have to pay off their loans with currency that is worthmoreC) Lenders are worse off because they cannot find anyone who wants a loanD) Lenders are worse off because they are repaid with currency that is worth moreE) None of the above-