英文版宏观经济学期末考试试卷(附答案).docx

1. IntheUnitedStatesrealGDPisreportedeachquarter.a. Thesenumbersareadjustedtomakethemmeasureatannualandseasonallyadjustedrates.b. Thesenumbersareadjustedtomakethemannualrates,butnoadjustmentforseasonalvariationsaremade.c. Thesenumbersarequarterlyratesthathavebeenseasonallyadjusted.d. Thesenumbersareatquarterlyratesandhavenotbeenseasonallyadjusted.2. ThepriceofCDplayersincreasesdramatically,causinga1percentincreaseintheCPI.ThepriceincreasewillmostlikelycausetheGDPdeflatortoincreasebya. morethan1percent.b. lessthan1percent.c. 1percent.d. Itisimpossibletomakeaninformedguesswithoutmoreinformation.3. IfincreasesinthepricesofU.S.medicalcarecausetheCPItoincreaseby2percent,theGDPdeflatorwilllikelyincreasebya. morethan2percent.b. 2percent.c. lessthan2percent.d. Alloftheabovearecorrect.4. Thetraditionalviewoftheproductionprocessisthatcapitalissubjecttoa. constantreturns.b. increasingreturns.c. diminishingreturns.d. diminishingreturnsforlowlevelsofcapital,andincreasingreturnsforhighlevelsofcapital.5. Whichofthefollowingiscorrect?a. Politicalinstabilitycanreduceforeigninvestment,reducinggrowth.b. Gary'sBeckerproposaltopaymothersindevelopingcountriestokeeptheirchildreninschoolhasnotworkedverywellinpractice.c. Policiesdesignedtopreventimportsfromothercountriesgenerallyincreaseeconomicgrowth.d.Alloftheabovearecorrect.6.Usethefollowingtabletoanswerthefollowingquestion.StockSymYld%PEVol100sHiLoCloseNetChgGenMillsGIS2.5351375844.343.543.97-0.63GilletteG2.2313042831.129.7300.17GracoGGG1.21670524.223.123.95-0.53HersheyHSY2.138541863.461.762.450.72Assumethattheclosingpricewasalsotheaveragepriceatwhicheachstocktransactiontookplace.WhatwasthetotaldollarvolumeofGillettestocktradedthatday?a. $912,840,000b. $91,284,000c. $9,128,400d.$912,8407. SupposethatinaclosedeconomyGDPisequalto10,000,taxesareequalto2,500Consumptionequals6,500andGovernmentexpendituresequal2,000.Whatareprivatesaving,publicsaving,andnationalsaving?a. 1500,1000,500b. 1000,500,1500c. 500,1500,1000d. Noneoftheabovearecorrect.8. Risk-aversepeoplewillchoosedifferentassetportfoliosthanpeoplewhoarenotriskaverse.Overalongperiodoftime,wewouldexpectthata. everyrisk-aversepersonwillearnahigherrateofreturnthaneverynon-riskaverseperson.b. everyrisk-aversepersonwillearnalowerrateofreturnthaneverynon-riskaverseperson.c. theaveragerisk-aversepersonwillearnahigherrateofreturnthantheaveragenon-riskaverseperson.d. theaveragerisk-aversepersonwillearnalowerrateofreturnthantheaveragenon-riskaverseperson.9. Thenaturalrateofunemploymentisthea. unemploymentratethatwouldprevailwithzeroinflation.b. rateassociatedwiththehighestpossiblelevelofGDP.c. differencebetweenthelong-runandshort-rununemploymentrates.d. amountofunemploymentthattheeconomynormallyexperiences.10. Supposethatthereserveratiois5percentandthatabankhas$1,000indeposits.Itsrequiredreservesarea.$5.b.$50.c.$95.d.$950.11. Supposeabankhas$200,000indepositsand$190,000inloans.Ithasareserveratioofa. 5percentb. 9.5percentc. 10percentd. Noneoftheaboveiscorrect.12. Theinflationtaxa. transferswealthfromthegovernmenttohouseholds.b. istheincreaseinincometaxesduetolackofindexation.c. isataxoneveryonewhoholdsmoney.d. Alloftheabovearecorrect.13. In1898,prospectorsontheKlondikeRiverdiscoveredgold.Thisdiscoverycausedanunexpectedpricelevela. decreasethathelpedcreditorsattheexpenseofdebtors.b. decreasethathelpeddebtorsattheexpenseofcreditors.c. increasethathelpedcreditorsattheexpenseofdebtors.d. increasethathelpeddebtorsattheexpenseofcreditors.14. Ivan,aRussiancitizen,sellsseveralhundredcasesofcaviartoarestaurantchainintheUnitedStates.Byitself,thissalea.increasesU.S.netexportsandhasnoeffectonRussiannetexports.b.increasesU.S.netexportsanddecreasesRussiannetexports.c.decreasesU.S.netexportsandhasnoeffectonRussiannetexports.d.decreasesU.S.netexportsandincreasesRussiannetexports.15. SupposethattherealexchangeratebetweentheUnitedStatesandKenyaisdefinedintermsofbasketsofgoods.Whichofthefollowingwillincreasetherealexchangerate(thatisincreasethenumberofbasketsofKenyangoodsabasketofU.S.goodsbuys)?a. anincreaseinthenumberofKenyanshillingsthatcanbepurchasedwithadollarb. anincreaseinthepriceofU.S.basketsofgoodsc. adecreaseinthepriceinKenyanshillingsofKenyangoodsd. Alloftheabovearecorrect.16. Usethe(hypothetical)informationinthefollowingtabletoanswerthenextquestion.CountryCurrencyCurrencyperU.S.DollarU.S.PriceIndexCountryPriceIndexBrazilReal4.00200800JapanYen125.0020050,000MexicoPeso10.002002,000SwedenKrona9.002002,000ThailandBaht45.002008,000Inrealterms,U.S.goodsaremoreexpensivethangoodsinwhichcountry(ies)?a. BrazilandMexicob. Japan,Sweden,andThailandc. JapanandSwedend. Thailand.17. Whichofthefollowingwouldtendtoshiftthesupplyofd