09_will_macro5c_tb_ch09

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1、Macroeconomics,5Ce(Williamson)Chapter9ATwo-PeriodModel:TheConsumption–SavingsDecisionandCreditMarkets1)IntertemporaldecisionsinvolveeconomicdecisionsA)madewithinagivenperiodoftime.B)madeinbetweentwoperiodsoftime.C)involvingtradeoffsacrossperiodsoftime.D)thatignoreconcernsaboutthef

2、uture.E)thataremadeonlyonce.Answer:CType:MCPageRef:268-2692)Consumption-savingsdecisionsinvolveintertemporalchoiceasthisisadecisioninvolvingatradeoffbetweenA)consumptionandinvestment.B)consumptionandsaving.C)currentandfutureinvestment.D)currentandfutureconsumption.E)consumptionper

3、workerandincomeperworker.Answer:DType:MCPageRef:268-2693)ThesimplestdevicetoanalyzedynamicdecisionsisaA)one-periodmodel.B)two-periodmodel.C)modelthatincludesonlythenumberofyearsofatypicalconsumer'slifetime.D)continuoustimemodel.E)dynamictimemodel.Answer:BType:MCPageRef:268-2694)Ak

4、eyvariableinintertemporalchoiceisA)consumption.B)investment.C)outputperworker.D)realinterestrate.E)totalfactorproductivity.Answer:DType:MCPageRef:269-2779-16Copyright©2018PearsonCanadaInc.5)ConsumptionsmoothingreferstoA)thetendencyofallconsumerstochoosethesameamountofcurrentconsum

5、ption.B)thetendencyofconsumerstoseekaconsumptionpathovertimethatissmootherthanincome.C)thetendencyofconsumerstoseekanincomepathovertimethatissmootherthanconsumption.D)consumer'sconcernsaboutgoingheavilyintodebt.E)balancesavingswithconsumptionovertime.Answer:BType:MCPageRef:269-277

6、6)Aconsumer'sbudgetconstraintinthecurrentperiodisA)c=y-t.B)y=c+i+g.C)y=c-s.D)c+s=y+t.E)c+s=y-t.Answer:EType:MCPageRef:269-2777)Forallbondstobeindistinguishable,A)allconsumersmustneverbeexpectedtodefaultontheirdebts.B)thegovernmentmustguaranteeallbonds.C)allconsumersmustbeidentical

7、.D)theymustbetradedthroughfinancialintermediaries.E)onlygovernmentcanissuebonds.Answer:AType:MCPageRef:269-2778)BondsareassumedtotradedirectlyA)throughtheBankofCanada.B)throughthefederalgovernment.C)throughfinancialintermediaries.D)inthecreditmarket.E)inthestockmarket.Answer:DType

8、:MCPageRef:269-2779)Aone-periodbo