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1、武汉大学2010-2011学年第二学期期末考试经济与管理学院2010级2011年6月29日《宏观经济学》试题(A卷)PrinciplesofMacroeconomics(PaperA)InstructionYouhavetwohourstocompletethistest.Fullmarksare100points.Writeyouranswersontheanswersheet.WhileyouareallowedtoanswereitherinEnglishorChinese,itwouldbemoregradedatareasonab
2、ledegreeifyouchoosetodoitinEnglish.Readthequestionscarefullybeforeansweringthem.Bepreciseandkeeptothepoint.Goodluck!1.(10points)OnedayBarryandBarber,Inc.,collects$400forhaircuts.Overthisday,hisequipmentdepreciatesinvalueby$50.Oftheremaining$350,Barrysends$30tothegovernment
3、insalestaxes,takeshome$220inwages,andretains$100inhisbusinesstoaddnewequipmentinthefuture.Fromthe$220thatBarrytakeshome,hepays$70inincometaxes.Basedonthisinformation,computeBarry’scontributiontothefollowingmeasuresofincome.a.Grossdomesticproductb.Netnationalproductc.Nation
4、alincomed.Personalincomee.Disposablepersonalincome2.(10points)Explainthedifferencebetweensavingandinvestmentasdefinedbyamacroeconomist.Whichofthefollowingsituationsrepresentinvestment?Saving?Explain.a.Yourfamilytakesoutamortgageandbuysanewhouse.b.Youuseyour$200paychecktobu
5、ystockinAT&T.c.Yourroommateearns$100anddepositsitinheraccountatabank.d.Youborrow$1000fromabanktobuyacartouseinyourpizzadeliverybusiness.1.(10points)Listallforcesthatinfluencemacroeconomicperformanceofacountry.Whichofthembelongstoaggregatesupplysideandwhichtoaggregatedemand
6、side?Inthelongrun,canthecentralbankhavetheeconomytogrowcontinuouslyonlybyuseofexpansionarymonetarypolicysuchascontinuingincreaseinmoney?2.(15points)Overthepastdecade,manyofChinesesavinghasbeenusedtofinanceAmericaninvestment.Thatis,ChinesegovernmenthasbeenbuyingAmericancapi
7、talassets,especiallytheU.S.treasurybonds.a.IfChinesegovernmentdecideditnolongerwantedtobuyU.S.assets,whatwouldhappenintheU.S.marketforloanablefunds?Inparticular,whatwouldhappentoU.S.interestrates,U.S.saving,andU.S.investment?b.WhatwouldhappentothevalueofthedollarandtheU.S.
8、tradebalance?3.(15points)Foreachofthefollowingevents,explaintheshort-runandlong-runeffect