宏观经济学期末考试试卷2(附答案)
2010年考研英语真题-工人入党申请书
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得 分
一、选择题(每小题 1 分，共 30 分)
评卷人
1．In the United States real GDP is
reported each quarter.
a. These numbers are
adjusted to make them measure at annual and
seasonally
adjusted rates.
b. These
numbers are adjusted to make them annual rates,
but no adjustment for
seasonal variations are
made.
c. These numbers are quarterly rates
that have been seasonally adjusted.
d. These
numbers are at quarterly rates and have not been
seasonally adjusted.
2．The price of CD players
increases dramatically, causing a 1 percent
increase in the
CPI. The price increase will
most likely cause the GDP deflator to increase by
a. more than 1 percent.
b. less than 1
percent.
c. 1 percent.
d. It is
impossible to make an informed guess without more
information.
3．If increases in the prices of
U.S. medical care cause the CPI to increase by 2
percent,
the GDP deflator will likely increase
by
a. more than 2 percent.
b. 2 percent.
c. less than 2 percent.
d. All of the
above are correct.
4．The traditional view of
the production process is that capital is subject
to
a. constant returns.
b. increasing
returns.
c. diminishing returns.
d.
diminishing returns for low levels of capital, and
increasing returns for high
levels of capital.
5．Which of the following is correct?
a.
Political instability can reduce foreign
investment, reducing growth.
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b.
Gary's Becker proposal to pay mothers in
developing countries to keep their children in
school has
not worked very well in practice.
c. Policies designed to prevent imports from
other countries generally increase economic
growth.
d. All of the above are correct.
6．Use the following table to answer the
following question.
Stock Sym Yld % PE Vol
100s Hi Lo Close Net Chg
GenMills GIS 2.5 35
13758 44.3 43.5 43.97 -0.63
Gillette G 2.2 31
30428 31.1 29.7 30 0.17
Graco GGG 1.2 16 705
24.2 23.1 23.95 -0.53
Hershey HSY 2.1 38 5418
63.4 61.7 62.45 0.72
Assume that the closing
price was also the average price at which each
stock transaction took place. What
was the
total dollar volume of Gillette stock traded that
day?
a. $$912,840,000
b. $$91,284,000
c. $$9,128,400
d. $$912,840
7．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. 1500, 1000, 500
b. 1000,
500, 1500
c. 500, 1500, 1000
d. None of
the above are correct.
8．Risk-averse people
will choose different asset portfolios than people
who are not risk averse. Over a long
period of
time, we would expect that
a. every risk-
averse person will earn a higher rate of return
than every non-risk averse person.
b. every
risk-averse person will earn a lower rate of
return than every non-risk averse person.
c.
the average risk-averse person will earn a higher
rate of return than the average non-risk averse
person.
d. the average risk-averse person
will earn a lower rate of return than the average
non-risk averse
person.
9．The natural rate
of unemployment is the
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a.
unemployment rate that would prevail with zero
inflation.
b. rate associated with the
highest possible level of GDP.
c. difference
between the long-run and short-run unemployment
rates.
d. amount of unemployment that the
economy normally experiences.
10．Suppose that
the reserve ratio is 5 percent and that a bank has
$$1,000 in deposits. Its
required reserves are
a. $$5. b. $$50.
c. $$95. d.
$$950.
11．Suppose a bank has $$200,000 in
deposits and $$190,000 in loans. It has a reserve
ratio of
a. 5 percent
b. 9.5 percent
c. 10 percent
d. None of the above is
correct.
12．The inflation tax
a.
transfers wealth from the government to
households.
b. is the increase in income
taxes due to lack of indexation.
c. is a tax
on everyone who holds money.
d. All of the
above are correct.
13．In 1898, prospectors on
the Klondike River discovered gold. This discovery
caused
an unexpected price level
a.
decrease that helped creditors at the expense of
debtors.
b. decrease that helped debtors at
the expense of creditors.
c. increase that
helped creditors at the expense of debtors.
d. increase that helped debtors at the expense of
creditors.
14．Ivan, a Russian citizen, sells
several hundred cases of caviar to a restaurant
chain in
the United States. By itself, this
sale
a. increases U.S. net exports and has no
effect on Russian net exports.
b. increases
U.S. net exports and decreases Russian net
exports.
c. decreases U.S. net exports and
has no effect on Russian net exports.
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d. decreases U.S. net exports and
increases Russian net exports.
15．Suppose that
the real exchange rate between the United States
and Kenya is defined in terms of baskets
of
goods. Which of the following will increase the
real exchange rate (that is increase the number of
baskets
of Kenyan goods a basket of U.S. goods
buys)?
a. an increase in the number of Kenyan
shillings that can be purchased with a dollar
b. an increase in the price of U.S. baskets of
goods
c. a decrease in the price in Kenyan
shillings of Kenyan goods
d. All of the above
are correct.
16．Use the (hypothetical)
information in the following table to answer the
next question.
Country Currency Currency
per U.S. Price Country
U.S. Dollar Index Price
Index
Brazil Real 4.00 200 800
Japan Yen
125.00 200 50,000
Mexico Peso 10.00 200 2,000
Sweden Krona 9.00 200 2,000
Thailand Baht
45.00 200 8,000
In real terms, U.S. goods are
more expensive than goods in which country(ies)?
a. Brazil and Mexico
b. Japan, Sweden,
and Thailand
c. Japan and Sweden
d.
Thailand.
17．Which of the following would tend
to shift the supply of dollars in foreign-currency
exchange market of
the open-economy
macroeconomic model to the left?
a. The
exchange rate rises.
b. The exchange rate
falls.
c. The expected rate of return on U.S.
assets rises.
d. The expected rate of return
on U.S. assets falls.
18．The real exchange
rate equals the relative
a. price of domestic
and foreign currency.
b. price of domestic
and foreign goods.
c. rate of domestic and
foreign interest.
d. None of the above is
correct.
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19．In the
open-economy macroeconomic model, if the supply of
loanable funds
increases, the interest rate
a. and the real exchange rate increase.
b. and the real exchange rate decrease.
c.
increases and the real exchange rate decreases.
d. decreases and the real exchange rate
increases.
20．For the following question, use
the graph below.
The initial effect of an
increase in the budget deficit in the loanable
funds market is
illustrated as a move from
a. a to b.
b. a to c.
c. c to b.
d. c to d.
21．When the government spends
more, the initial effect is that
a. aggregate
demand shifts right.
b. aggregate demand
shifts left.
c. aggregate supply shifts
right.
d. aggregate supply shifts left.
22．Suppose the economy is in long-run
equilibrium. In a short span of time, there is a
sharp increase in the minimum wage, a major
new discovery of oil, a large influx of
immigrants, and new environmental regulations
that reduce electricity production. In
the
short run, we would expect
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a.
the price level to rise and real GDP to fall.
b. the price level to fall and real GDP to rise.
c. the price level and real GDP both to stay
the same.
d. All of the above are possible.
23．Suppose the economy is in long-run
equilibrium. In a short span of time, there is a
large influx of
skilled immigrants, a major
new discovery of oil, and a major new
technological advance in electricity
production. In the short run, we would expect
a. the price level to rise and real GDP to
fall.
b. the price level to fall and real GDP
to rise.
c. the price level and real GDP both
to stay the same.
d. All of the above are
possible.
24．According to liquidity preference
theory, the money supply curve is
a. upward
sloping.
b. downward sloping.
c.
vertical.
d. horizontal.
25．When the Fed
buys government bonds, the reserves of the banking
system
a. increase, so the money supply
increases.
b. increase, so the money supply
decreases.
c. decrease, so the money supply
increases.
d. decrease, so the money supply
decreases.
26．According to the theory of
liquidity preference, an increase in the price
level causes the
a. interest rate and
investment to rise.
b. interest rate and
investment to fall.
c. interest rate to rise
and investment to fall.
d. interest rate to
fall and investment to rise.
27．If the stock
market crashes,
a. aggregate demand
increases, which the Fed could offset by
increasing the money supply.
b. aggregate
demand increases, which the Fed could offset by
decreasing the money supply.
c. aggregate
demand decreases, which the Fed could offset by
increasing the money supply.
d. aggregate
demand decreases, which the Fed could offset by
decreasing the money supply.
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28．If the
MPC = 35, then the government purchases multiplier
is
a. 53. b. 52.
c.
5. d. 15.
29．If the government
raises government expenditures, in the short run,
prices
a. rise and unemployment falls.
b. fall and unemployment rises.
c. and
unemployment rise.
d. and unemployment fall.
30．If the long-run Phillips curve shifts to
the left, for any given rate of money growth
and inflation the economy will have
a.
higher unemployment and lower output.
b.
higher unemployment and higher output.
c.
lower unemployment and lower output.
d. lower
unemployment and higher output.
得 分
二、判断题(每小题 1 分，共 20 分)
评卷人
31．When an American doctor opens a practice in
Bermuda, his production there is part
of U.S.
GDP.
32．In countries where women are
discriminated against, policies that increase
their
career and educational opportunities are
likely to increase the birth rate.
33．Michael
Kramer found that world growth rates have
increased as population has.
34．Suppose a
small closed economy has GDP of $$5 billion,
Consumption of $$3 billion,
and Government
expenditures of $$1 billion. Then domestic
investment and national
saving are both $$1
billion.
35．According to the efficient markets
hypothesis, at any moment in time, the market
price is the best guess of the company's value
based on available information.
36．According
to the efficient markets hypothesis, stocks follow
a random walk so that
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stocks
that increase in price one year are more likely to
increase than decrease in the next year.
37．In
the United States, blacks and whites have similar
labor force participation rates, but blacks have a
higher unemployment rate.
38．According to
the theory of efficiency wages, firms operate more
efficiently if they can pay wages that
are
below the equilibrium level.
39．In the months
of November and December, people in the United
States hold a larger part of their money
in
the form of currency because they intend to shop
for the holidays. As a result, the money supply
increases, cerise parousia.
40．In the
1990s, U.S. prices rose at about the same rate as
in the 1970s.
41．According to the theory of
purchasing-power parity, the real exchange rate
defined as foreign goods per
unit of U.S.
goods will equal the domestic price level divided
by the foreign price level.
42．Net capital
outflow represents the quantity of dollars
supplied in the foreign-currency exchange market.
43．If policymakers impose import restrictions
on automobiles, the U.S. trade deficit would
shrink.
44．Most economists believe that
classical theory explains the world in the short
run, but not the long run.
45．Because not all
prices adjust instantly to changing conditions, an
unexpected fall in the price level
leaves some
firms with higher-than-desired prices, and these
higher-than-desired prices depress sales and
induce firms to reduce the quantity of goods
and services they produce.
46．All explanations
for the upward slope of the short-run aggregate
supply curve suppose that output
supplied
increases when the price level increases more than
expected.
47．Both the multiplier and the
investment accelerator tend to make the aggregate
demand curve shift
farther than the increase
in government expenditures.
48．During
recessions, the government tends to run a budget
deficit.
49．If macroeconomic policy expands
aggregate demand, unemployment will fall and
inflation will rise in
the short run.
50．The analysis of Friedman and Phelps argues
that any change in inflation that is expected has
no impact
on the unemployment rate.
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得 分
三、名词解释(每小题 2 分，共 10 分)
评卷人
51．diminishing returns:
52．nominal
exchange rate:
53．crowding-out effect:
54．stagflation:
55．automatic stabilizers:
得 分
四、简答题( 8题中任选6题；每小题 5分，共
30 分)
评卷人
56．
Why
are property rights important for the growth of a
nation's standard of living?
57．
Suppose that you are a broker and
people tell you the following about themselves.
What
sort of bond would you recommend to each?
Defend your choices.
a.
b.
c.
highly.
58．
Draw a simple T-account
for First National Bank of Me, which has $$5,000 of
deposits, a
reserve ratio of 10 percent, and
excess reserves of $$300.
59．
What are
the costs of inflation?
60．
Make a list
of things that would shift the long-run aggregate
supply curve to the right.
61．
Illustrate the classical analysis of
growth and inflation with aggregate demand and
long-run aggregate supply curves.
62．
Why do economists think that the wealth
effect and exchange-rate effect are not very
important factors in explaining why aggregate
demand slopes downward, at least in the
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United States?
63．
Describe
the process in the money market by which the
interest rate reaches its equilibrium value if it
starts
above equilibrium.
得 分
五、讨论题(2题中任选1题；每小题 10 分，共 10 分)
评卷人
64. Assume the economy is in a
recession. Explain how each of the following
policies would affect
consumption and
investment. In each case, indicate any direct
effects, any effects resulting from changes in
total output, any effects resulting from
changes in interest rate, and the overall effect.
If there are conflicting
effects making the
answer ambiguous, say so. a). a reduction in
taxes; b) an expansion of the money supply.
65. In 1939, with the U.S. economy not yet
fully recovered from the Great Depression,
President Roosevelt
proclaimed that
Thanksgiving would fall a week earlier than usual
so that the shopping period before
Christmas
would be longer. Explain this decision, using the
model of aggregate demand and aggregate
supply.
《宏观经济学》答题纸
题 号 一 二 三 四 五
总分
得 分
得 分
一、选择题 (每小题
1 分，共 30 分)
评卷人
1.
2. 3. 4. 5.
6. 7. 8. 9.
10.
11. 12. 13.
14. 15.
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16. 17. 18. 19. 20.
21. 22. 23. 24. 25.
26. 27. 28. 29. 30.
得 分
二、判断题(正确用“T”；错误用“F”；每小题 1
分，共 20 分)
评卷人
31. 32. 33. 34. 35.
36. 37. 38. 39. 40.
41. 42. 43. 44. 45.
46. 47. 48. 49. 50.
得 分
三、名词解释(每小题 2分，共 10 分)
评卷人
51．catch-up effect:
52．depreciation:
53．capital flight:
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54．recession:
55．automatic stabilizers:
得 分
四、简答题( 8题中任选6题；每小题 5分，共 30 分；答题时
请标明题号)
评卷人
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得 分
五、讨论题(2题中任选1题；每小题 10 分，共 10
分；答题时请
评卷人
标明题号)
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《宏观经济学》试卷B参考答案
1.
a 2.d 3.c 4.c 5.a
6.b 7.b 8.d 9.d 10.b 11.a 12.c 13.d 14.d 15.d 16.d
17.c 18.b 19.b 20.c 21.a 22.d 23.b 24.c
25.a
26.c 27.c 28.b 29.a 30.d
31.F 32.F 33.T
34.T 35.T 36.F 37.T 38.F 39.F 40.F 41.F 42.T 43.F
44.F 45.T 46.T 47.T 48.T 49.T 50.T
property whereby the benefit from an extra unit of
an input declines as the quantity of the input
increases.
rate at which a person can
trade the currency of one country for the currency
of another.
offset in aggregate demand that
results when expansionary fiscal policy raises the
interest rate and
thereby reduces investment
spending.
54.a period of falling output and
rising prices.
s in fiscal policy that
stimulate aggregate demand when the economy goes
into a recession
without policymakers having
to take any deliberate action.
ty rights
are an important prerequisite for the price system
to work in a market economy. If an
individual
or company is not confident that claims over
property or over the income from property can be
protected, or that contracts can be enforced,
there will be little incentive for individuals to
save, invest, or
start new businesses.
Likewise, there will be little incentive for
foreigners to invest in the real or financial
assets of the country. The distortion of
incentives will reduce efficiency in resource
allocation and will
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reduce
saving and investment which in turn will reduce
the standard of living.
57. a. A municipal
bond, because generally they have low credit risk
and are not
subject to federal income tax.
b. A junk bond. Because of their high risk,
they have a high return.
c. A corporate bond
that isn't a junk bond. Because they have more
risk than
government bonds and have no special
tax treatment, they pay moderate rates
of
return.
National Bank of Me
Assets
Liabilities
Reserves $$800 Deposits $$5,000
Loans $$4,200
costs of inflation
include
holdings to reduce your inflation tax;
costs of resource misallocation that result
from the relative-price variability induced by
inflation; the costs of inflation-induced tax
distortions; the costs of confusion and
inconvenience; and the costs associated with
the arbitrary redistribution of wealth that
accompany unexpected inflation.
es in the
text (or variations) include increased
immigration, a decrease in the
minimum wage,
more generous unemployment insurance, an increase
in the capital
stock, an increase in the
average level of education, a discovery of new
mineral deposits,
technology, and removal of
barriers to international trade.
graph.
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Over time
technological advances cause the long-run
aggregate supply curve to shift right. Increases
in the
money supply cause the aggregate demand
curve to shift right. Output growth puts downward
pressure on
the price level, but money supply
growth contributes to rising prices.
wealth effect is not very important because it
operates through changes in the real value of
money,
and money is only a small fraction of
household wealth. So it is unlikely that changes
in the price level will
lead to large changes
in consumption spending through this channel. The
exchange-rate effect is not very
important in
the United States because trade with other
countries represents a relatively small fraction
of
U.S. GDP.
63. If the interest rate
is above equilibrium, there is an excess supply of
money. People with more money
than they want
to hold given the current interest rate deposit
the money in banks and buy bonds. The
increase
in funds to lend out causes the interest rate to
fall. As the interest rate falls, the quantity of
money
demanded increases, which tends to
diminish the excess supply of money.
64.
a) 税收减少增加了储蓄的收益、减少了投资的成本，但税收减少对储蓄和投资的影响要视情况而
定。
储蓄的增加取决于储蓄的税收弹性，如果储蓄的税收弹性大，则消费会大量减少，反之，消费
不会减少许
多；投资的增加也取决于投资的税收弹性，如果投资的税收弹性大，则投资会大量增加，
反之，投资不会
增加多少。它的总效应不确定，这要看储蓄的税收效应和投资的税收效应的大小。
b) 货币供给的扩
张减低了利率，利率下降意味着投资成本和消费下降，因而会刺激消费和投资增加，
这是一种产生于利率
变动的间接效应。它的总效应是增加社会总需求。
65.
当罗斯福总统宣布感恩前一周时，刺激了居民的消费支出，经济中对物品与劳务的需求会增加，
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从而总需求曲线从AD
1
右移到AD
2
.随着经济从A点变动到B点，产量从Y
1
增加到Y
2
，
物价水平众P
1
升至P
2
.
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