经济学原理对应练习36.docx

1、经济学原理对应练习 36Chapter 36Five Debates Over Macroeconomic PolicyMultiple Choice 1. Fluctuations in employment and output result from changes ina. aggregate demand only.b. aggregate supply only.c. aggregate demand and aggregate supply.d. neither aggregate demand nor aggregate supply.ANS: C PTS: 1 DIF: 1

2、REF: 36-1TOP: Aggregate demand MSC: Applicative 2. In the fall of 2005, consumers indicated that they were less optimistic about the future of the economy. This change in sentiment would likelya. shift aggregate demand left.b. decrease output.c. increase unemployment.d. All of the above are correct.

3、ANS: D PTS: 1 DIF: 1 REF: 36-1TOP: Stabilization policy MSC: Analytical 3. If aggregate demand shifts because of a wave irrational exuberance, those who favor lean against the wind policy would advocate the a. federal reserve increase the money supply or the government increase taxes.b. federal rese

4、rve increase the money supply or the government decrease taxes.c. federal reserve decrease the money supply or the government increase taxes.d. federal reserve decrease the money supply or the government decrease taxes.ANS: C PTS: 1 DIF: 2 REF: 36-1TOP: Stabilization policy MSC: Analytical 4. Leanin

5、g against the wind is exemplified by aa. tax cut when there is a recession.b. decrease in the money supply when there is a recession.c. decrease in government expenditures when there is a recession.d. All of the above are correct.ANS: A PTS: 1 DIF: 1 REF: 36-1TOP: Stabilization policy MSC: Analytica

6、l 5. Leaning against the wind is exemplified by aa. tax increase when there is a recession.b. decrease in the money supply when there is an expansion.c. decrease in government expenditures when there is a recession.d. All of the above are correct.ANS: B PTS: 1 DIF: 1 REF: 36-1TOP: Stabilization poli

7、cy MSC: Interpretive 6. President George W. Bush and congress cut taxes and raised government expenditures in 2003. According to the aggregate supply and aggregate demand modela. both the tax cut and the increase in government expenditures would tend to increase output.b. only the tax cut would tend

8、 to increase output.c. only the increase in government expenditures would tend to increase output.d. neither the tax cut nor the increase in government expenditures would tend to increase output.ANS: A PTS: 1 DIF: 2 REF: 36-1TOP: Stabilization policy | Aggregate demand MSC: Applicative 7. President

9、George W. Bush and congress cut taxes and raised government expenditures in 2003. Which of the following is not correct?a. At the time the economy was just moving into a recession.b. While there was subsequent improvement in economic performance, its not entirely clear that this was due to the polic

10、y.c. In general monetary policy can be implemented faster than fiscal policy.d. In general it is easier to reverse monetary policy than to reverse fiscal policy.ANS: A PTS: 1 DIF: 2 REF: 36-1TOP: Stabilization policy | Aggregate demand MSC: Applicative 8. Policymakers following a lean against the wi

11、nd policy woulda. increase government expenditures when output is low and decrease them when output is high.b. increase government expenditures when output is low and do nothing when output is high.c. decrease government expenditures when output is low and increase them when output is high.d. decrea

12、se government expenditures when output is high and do nothing when output is low.ANS: A PTS: 1 DIF: 1 REF: 36-1TOP: Stabilization policy | Policy lags MSC: Definitional 9. If the unemployment rate rises, which policies would be appropriate to reduce it?a. increase the money supply, increase taxesb.

13、increase the money supply, cut taxesc. decrease the money supply, increase taxesd. decrease the money supply, cut taxesANS: B PTS: 1 DIF: 2 REF: 36-1TOP: Stabilization policy MSC: Applicative 10. The Federal Reserve will tend to tighten monetary policy whena. interest rates are rising too rapidly.b.

14、 it thinks the unemployment rate is too high.c. the growth rate of real GDP is quite sluggish.d. it thinks inflation is too high today, or will become too high in the future.ANS: D PTS: 1 DIF: 2 REF: 36-1TOP: Monetary policy MSC: Analytical 11. If firms were faced with greater uncertainty because of

15、 concern that oil prices might rise, they might decrease expenditures on capital. In response to this change, someone who advocated lean against the wind policies might advocate a. decreasing the money supply.b. increasing taxes.c. increasing government expenditures.d. None of the above is correct.A

16、NS: C PTS: 1 DIF: 2 REF: 36-1TOP: Stabilization policy MSC: Analytical 12. Those who desire that policymakers stabilize the economy would advocate which of the following when aggregate demand is insufficient to ensure full employment?a. decrease the money supplyb. decrease taxesc. decrease governmen

17、t expendituresd. None of the above is correct.ANS: B PTS: 1 DIF: 1 REF: 36-1TOP: Stabilization policy MSC: Analytical 13. Suppose aggregate demand fell. In order to stabilize the economy, the government mighta. increase the money supply.b. increase government expenditures.c. decrease taxes.d. All of

18、 the above are correct.ANS: D PTS: 1 DIF: 1 REF: 36-1TOP: Stabilization policy MSC: Applicative 14. The Fed lowered interest rates in 2001 and 2002. This implies, other things the same, that the Feda. increased the money supply because it was concerned about unemployment.b. increased the money suppl

19、y because it was concerned about inflation.c. decreased the money supply because it was concerned about unemployment.d. decreased the money supply because it was concerned about inflation.ANS: A PTS: 1 DIF: 2 REF: 36-1TOP: Stabilization policy MSC: Analytical 15. The Fed raised interest rates in 200

20、4 and 2005. This implies, other things the same, that the Feda. increased the money supply because it was concerned about unemployment.b. increased the money supply because it was concerned about inflation.c. decreased the money supply because it was concerned about unemployment.d. decreased the mon

21、ey supply because it was concerned about inflation.ANS: D PTS: 1 DIF: 2 REF: 36-1TOP: Stabilization policy MSC: Analytical 16. The effects of a decline in the value of financial assets, such as stocks, on consumption and the economy might be offset bya. increasing government spending.b. decreasing t

22、he money supply.c. increasing taxes.d. None of the above is correct.ANS: A PTS: 1 DIF: 2 REF: 36-1TOP: Stabilization policy MSC: Applicative 17. The economy goes into recession. Which of the following lists contains things policymakers could do to try to end the recession?a. increase the money suppl

23、y, increase taxes, increase government spendingb. increase the money supply, increase taxes, decrease government spendingc. increase the money supply, decrease taxes, increase government spendingd. decrease the money supply, increase taxes, decrease government spendingANS: C PTS: 1 DIF: 2 REF: 36-1T

24、OP: Stabilization policy MSC: Applicative 18. How long have studies shown it takes for interest rate changes to lead to significant changes in spending?a. A few days.b. A few weeks.c. A few months.d. A few years.ANS: C PTS: 1 DIF: 2 REF: 36-1TOP: Policy lags MSC: Definitional 19. In general, the lon

25、gest lag fora. both fiscal and monetary policy is the time it takes to change policy.b. both fiscal and monetary policy is the time it takes for policy to affect aggregate demand.c. monetary policy is the time it takes to change policy, while for fiscal policy the longest lag is the time it takes fo

26、r policy to affect aggregate demand.d. fiscal policy is the time it takes to change policy, while for monetary policy the longest lag is the time it takes for policy to affect aggregate demand.ANS: D PTS: 1 DIF: 1 REF: 36-1TOP: Balanced budget | Policy lags MSC: Definitional 20. The principal lag fo

27、r monetary policya. and fiscal policy is the time it takes to implement policy.b. and fiscal policy is the time it takes for policy to change spending.c. is the time it takes to implement policy. The principal lag for fiscal policy is the time it takes for policy to change spending.d. is the time it

28、 takes for policy to change spending. The principal lag for fiscal policy is the time it takes to implement it.ANS: D PTS: 1 DIF: 2 REF: 36-1TOP: Policy lags MSC: Definitional 21. The principal reason that monetary policy has lags is that it takes a long time fora. changes in the interest rate to ch

29、ange aggregate demand.b. changes in the money supply to change interest rates.c. the Fed to make changes in policy.d. None of the above is correct.ANS: A PTS: 1 DIF: 1 REF: 36-1TOP: Policy lags MSC: Definitional 22. Opponents of using policy to stabilize the economy generally believe thata. neither

30、fiscal nor monetary policy have much impact on aggregate demand.b. attempts to stabilize the economy can increase the magnitude of economic fluctuations.c. unemployment and inflation are not cause for much concern.d. All of the above are correct.ANS: B PTS: 1 DIF: 1 REF: 36-1TOP: Stabilization polic

31、y MSC: Interpretive 23. Which of the following is correct?a. economic forecasts are precise and aggregate spending responds almost immediately to interest rate changes.b. economic forecast are precise and aggregate spending responds to interest rate changes with a lag.c. economic forecasts are impre

32、cise and aggregate spending responds almost immediately to interest rate changes.d. economic forecast are imprecise and aggregate spending responds to interest rate changes with a lag.ANS: D PTS: 1 DIF: 2 REF: 36-1TOP: Policy lags | Economic forecasts MSC: Definitional 24. Which of the following is an argument against trying to use policy to stabilize the eco