中级宏观经济 期中试卷&答案.pdf

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1、Mid-TermExamfor2014SpringName:__________________________Student#:_____________MultipleChoice(2'*20)1.Inaclosedeconomy,thetotalincomeofeveryoneintheeconomyisexactlyequaltothetotal:A)expenditureontheeconomy'soutputofgoodsandservices.B)consumptionexpendituresofever

2、yoneintheeconomy.C)expendituresofallbusinessesintheeconomy.D)governmentexpenditures.2.Whenfactorsupplyisfixedandquantityofthefactorisgraphedonthehorizontalaxiswhilefactorpriceisgraphedontheverticalaxis,thefactor:A)supplycurveishorizontal.B)supplycurveisvertical.

3、C)supplycurveslopesuptotheright.D)demandcurveslopesuptotheright.3.Theone-to-onerelationbetweentheinflationrateandthenominalinterestrate,theFishereffect,assumesthat:A)themoneysupplyisconstant.B)velocityisconstant.C)theinflationrateisconstant.D)therealinterestrate

4、isconstant.4.Intheclassicalmodelwithfixedincome,areductioninthegovernmentbudgetdeficitwillleadtoa:A)higherrealinterestrate.B)lowerrealinterestrate.C)higherlevelofoutput.D)lowerlevelofoutput.5.AssumethattheconsumptionfunctionisgivenbyC=150+0.85(Y-T),thetaxfunctio

5、nisgivenbyT=t0+t1Y,andYis5,000.Ift1decreasesfrom0.3to0.2,thenconsumptionincreasesby:A)85.B)425.C)500.D)525.Page16.Ifdomesticsavingislessthandomesticinvestment,thennetexportsare______andnetcapitaloutflowsare______.A)positive;positiveB)positive;negativeC)negative;

6、negativeD)negative;positive7.Inthelong-run,increasednationalsavingmustI:increasetotallabourincomeinaclosedeconomy;II:increasetotallabourincomeinasmallopeneconomy.A)Iistrue;IIisnot.B)IIistrue;Iisnot.C)BothIandIIaretrue.D)NeitherInorIIistrue.Usethefollowingtoanswe

7、rquestion8:(Exhibit:MarketforRealMoneyBalances)8.(Exhibit:MarketforRealMoneyBalances)Basedonthegraph,iftheinterestrateisr1,thenpeoplewill______bondsandtheinterestratewill______.A)sell;riseB)sell;fallC)buy;riseD)buy;fallPage29.IfthedemandfunctionformoneyisM/P=0.5

8、Y-100randifM/Pincreasesby100,thentheLMcurveforanygiveninterestrateshiftstothe:A)leftby100.B)leftby200.C)rightby100.D)rightby200.10.IfMPC=0.75(andtherearenoincometaxes