宏观经济学习题22.docx

1、宏观经济学习题22一、An American company owns a fast-food store in Lima, Peru. The value of the goods and services produced in the store a. are included in both Peruvian GDP and U.S. GDP. b. are included partly in Peruvian GDP and partly in U.S. GDP. c. are included in U.S. GDP, but not Peruvian GDP. d. are i

2、ncluded in Peruvian GDP, but not U.S. GDP. e. none of the above1. A company produces 500 units of an intermediate good on the last day of the year. a. If it sells the good, GDP for that year will increase. b. If it sells the good, GDP for that year will remain unchanged. c. If it does not sell the g

3、ood, GDP for that year will increase. d. b and c.2. Igor and Natalia have each been doing their own housework. Igor decides to hire Natalia to do his housework, and in turn, Natalia hires Igor to do her housework. As a result of this change, a. GDP falls. b. GDP rises. c. GDP is unaffected because h

4、ousework is not included in GDP. d. GDP is unaffected because the same work is being performed in both cases.3. Which of the following is an example of double counting? a. errors made in adding together the value of all final goods and services to measure GDP b. adding the market value of the wood u

5、sed to produce a house to the market value of the house in measuring GDP c. adding the change in inventories to GDP d. All of the above are examples of double counting.4. Oiko Nomos buys a new computer in June 2001 and then sells it to a friend in December 2001. GDP a. will include the value of both

6、 the June sale and the December sale. b. will include the full value of the June sale, but only part of the value of the December sale, since the computer had been used. c. will include the value of the June sale only. d. will include the value of the December sale only, since that was the final sal

7、e of the computer in 2001.1. If a U.S. citizen buys a tractor made in Belarus, a. U.S. net exports decrease, and U.S. GDP decreases. b. U.S. net exports are unaffected, and U.S. GDP decreases. c. U.S. net exports are unaffected, and U.S. GDP is unaffected. d. U.S. net exports decrease but U.S. GDP i

8、s unaffected2. Which of the following represents a transfer payment? a. the government sends your grandfather his social security check. b. you transfer $1,000 from your bank account to a mutual fund. c. the bank transfers $10 quarterly interest to your savings account. d. your employer automaticall

9、y transfers $100 each month from your pay to a non-taxable medical spending account.3. You send a gift of $500 to your brother in Montana. When it is received, a. GDP increases because the $500 represents income to your brother. b. GDP decreases because the $500 represents a reduction in your income

10、. c. GDP is unaffected because the $500 represents a transfer, not a purchase. d. GDP increases because your brother will probably spend it.课后习题：1. b.Investment increases because a house is an investment good.c.Consumption increases because a car is a good purchased by a household, but investment de

11、creases because the car in Fords inventory had been counted as an investment good until it was sold.d.Consumption increases because pizza is a good purchased by a household.e.Government purchases increase because the government spent money to provide a good to the public.f.Consumption increases beca

12、use the bottle is a good purchased by a household, but net exports decrease because the bottle was imported.g.Investment increases because new structures and equipment were built.6. Based on the following data:Year Nominal GDP GDP deflator ( In Billions ) (Base Year 1992)1996 $7,662 1101997 $8,111 1

13、12A. What was the growth rate of nominal GDP between 1997 and 1996?B. What was the growth rate of GDP deflator between 1997 and 1996?A. The growth rate of nominal GDP is ($8,111 - $7,662)/$7,662 100% = 5.9%.Bhe growth rate of the deflator is (112 - 110)/110 100% = 1.8%.1. The best measure of a count

14、rys production of goods and services is a. nominal GDP. b. nominal GNP. c. real GDP. d. real NNP.2. If total spending rises from one year to the next, then a. the economy must be producing a larger output of goods and services. b. prices at which goods and services are sold must be higher. c. either

15、 the economy must be producing a larger output of goods and services, or the prices at which goods and services are sold must be higher, or both.d. net exports must be falling.3. When economists talk about growth in the economy, they measure that growth with a. the absolute change in nominal GDP. b.

16、 the percentage change in real GDP. c. the absolute change in real GDP. d. the percentage change in nominal GDP.4. If the GDP deflator is 150 and nominal GDP is $9,000 billion, then real GDP is a. $600 billion. b. $6,000 billion. c. $1,350 billion. d. $135 billion.5. The GDP deflator can be used to

17、identify a. the increase in nominal GDP that is due to an increase in prices rather than an increase in production. b. the increase in real GDP that is due to an increase in prices rather than an increase in production. c. the increase in the cost of living for typical U.S. consumers. d. the reducti

18、on in government spending required to balance the federal budget.6. If the GDP deflator was 100 in the base year of 2000, and was 105 in 2002, we can say that a. the price level increased by 105 percent from 2000 to 2002. b. the price level increased by 5 percent from 2000 to 2002. c. the price leve

19、l increased by 205 percent from 2000 to 2002. d. we cannot judge price increases from changes in the GDP deflator.二、1. When the price of pork rises, consumers buy more chicken. Which of the problems in the construction of the CPI does this situation illustrate? a. substitution bias b. introduction o

20、f new goods c. unmeasured quality change d. a and b e. a and c2. Laura buys word processing software in 2001 for $50. Lauras twin brother Laurence buys an upgrade of the same software in 2002 for $50. What problem in the construction of the CPI does this situation best represent? a. substitution bia

21、s b. unmeasured quality change c. introduction of new goods d. all of the above1. When the overall level of prices in the economy is increasing, we say that the economy is experiencing a. economic growth. b. inflation. c. unemployment. d. deflation. 2. In the CPI, the base year is a. the benchmark a

22、gainst which other years are compared, updated each year. b. the benchmark against which other years are compared. c. a particularly bad year for consumer prices. d. always 1989.3. Which change in the price index shows the greatest rate of inflation: 80 to 96, 100 to 125, or 150 to 180? a. 80 to 96

23、b. 100 to 125 c. 150 to 180 d. All changes show the same rate of inflation.4. Because the CPI is based on a fixed basket of goods, substitution bias causes the index to a. overstate the increase in the cost of living from one year to the next.b. ignore any increase in the cost of living from one yea

24、r to the next. c. understate the increase in the cost of living from one year to the next. d. sometimes understate, and sometimes overstate the increase in the cost of living from one year to the next.5. In U.S. consumer spending, housing makes up _% of the total, food and beverages make up _% of th

25、e total, and transportation makes up _% of the total. a. 50, 26, 27b. 40, 16, 17c. 17, 40, 16d. 50, 17, 166. If the cost of transportation and the cost of food and beverages increase by 30 percent, the CPI is likely to increase by a. about 30 percent. b. about 10 percent. c. about 3 percent. d. abou

26、t 33 percent. 1. A Japanese automobile company produces cars in the United States, some of which are exported to other nations. If the price of the cars increases, a. the GDP deflator and the CPI will both increase. b. the GDP deflator will increase and the CPI will be unchanged.c. the GDP deflator

27、will be unchanged and the CPI will increase.d. the GDP deflator and the CPI will both be unchanged2. A Brazilian company produces shirts in the United States and exports all of them to Lithuania. If the price of the shirts increases,a. the GDP deflator and the CPI both increase.b. the GDP deflator i

28、s unchanged and the CPI increases.c. the GDP deflator increases and the CPI is unchanged. d. the GDP deflator and the CPI are unchanged课后习题：11. a. When inflation is higher than was expected, the real interest rate is lower than expected. b. Since the real interest rate is lower than was expected, th

29、e lender loses and the borrower gains. The borrower is repaying the loan with dollars that are worth less than was expected.c. Homeowners in the 1970s who had fixed-rate mortgages from the 1960s benefited from the unexpected inflation, while the banks who made the mortgage loans lost a lot of money.

30、7. a. If the elderly consume the same market basket as other people, Social Security would provide the elderly with an improvement in their standard of living each year because the CPI overstates inflation and Social Security payments are tied to the CPI.1. The nominal interest rate is a. the intere

31、st rate paid or charged by a bank. b. the interest rate as usually reported without a correction for the effects of inflation. Ca low interest rate. d. all of the above e. a and b above2. If the nominal interest rate is 8% and rate of inflation is 3%, the real interest rate is a. 11%. b. 24%. c. 5%. d. 3.75%.3. If the nominal interest rate is 5% and the rate of inflation is 10%, the real interest rate is a. 5%. b. 50%. c. 15% d. 5%.三、1. Capital accumulation a. requires that society sacrifice consumption goods in the present. b. allows society to consume more in