武汉大学2008-2009学年第二学期期末考试

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1、武汉大学2008-2009学年第二学期期末考试经济与管理学院2008级2009年6月30日《宏观经济学》试题（A卷）PrinciplesofMacroeconomics(PaperA)InstructionYouhavetwohourstocompletethistest.Fullmarksare100points.Writeyouranswersontheanswersheet.WhileyouareallowedtoanswereitherinEnglishorChinese,itwouldbemoregradedatareasonabledegreeifyouchoos

2、etodoitinEnglish.Readthequestionscarefullybeforeansweringthem.Bepreciseandkeeptothepoint.Goodluck!Problem1(10points)TrueorFalse?Explainyouranswercompletelybutbriefly.a.(5points)Consumption,investment,governmentpurchasesandnetexportareNotsourcesofLong-termeconomicgrowth.b.(2.5points)Itisonec

3、aseofmoralhazardthatapatientismorelikelytoapplyforhealthinsurancethanhealthymen.c.(2.5pionts)Accordingtothetheoryofefficiencywages,firmswhopaywagesattheequilibriumlevelwilloperatemoreefficiently.Problem2(10points)Supposethereisasmallfarmingeconomythatproducescorn.Insuchaneconomy,80bushels(蒲

4、式耳)areconsumed,10goforgovernmentpurchasestofeedthearmy,6gointodomesticinvestmentasincreasesininventories,and11bushelsareexported.Inaddition,theeconomyimports7bushelsofcornandtaxesfarmersby12bushels.a.WhatistheGDPoftheeconomy?b.Calculateprivatesaving,publicsavingandnetcapitaloutflow.Thenexpl

5、aintherelationshipbetweensavingandinvestment.c.Assumingintheeconomy,womenhaveworkedmorehoursinproducingcorn.HowwouldthisaffectGDP?Explaintheparadox,“Whenapersonmarrieshisorhergardener(园丁),GDPgoesdown.”DoyouthinkGDPisagoodmeasureofnationalaccounts?Problem3(10points)BelowaresomedataaboutPizza

6、andLatte(拿铁，一种咖啡).PizzaLatteyearPriceQuantityPriceQuantity200610.004002.001000200711.005002.501100200812.006003.001200a.ComputetheGDPdeflatorforeachyear,using2006asthebaseyear.b.SupposethatthebaseyearfortheCPIis2006.IftheCPIbasketconsistsof400piecesofpizzaand1000cupsoflatteduringthethreeyea

7、rs,computetheCPIforeachyear.WhatistheCPIinflationratefrom2007to2008?c.Accordingtoyourcomputation,whatisthedifferencebetweenGDPdeflatorandCPI?Problem4(15points)TheFederalReserveconductsa$20millionopen-marketpurchaseofgovernmentbonds.Therequiredreserverati