20090630_XiaoLiping[]武汉大学宏观经济学试卷

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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（A卷）PrinciplesofMacroeconomics(PaperA)Instructions:Youhavetwohourstocompletethetest.Fullmarksare100points.Writeyouranswersontheanswersheet.YoucanansweryourquestionseitherinEnglishorChinese.Readthequestionsc

2、arefullybeforeansweringthem.Bepreciseandtothepoint.Goodluck!Problem1(10points)TrueorFalse?Explainyouranswercompletelybutbriefly.a.JamesBondisabouttoretireandisthinkingofsellinghiscar.Hespends£1,000inrepairingandtuningtheengine,andfinallyagreestosellittoMis

3、sMoneyPennyfor£10,000.Asaresult,GDPincreasesby£11,000.b.RobinsonCrusoewilllivebetterbycatchingfish,ifhehasmorephysicalcapital,humancapital,naturalresourcesandtechnologicalknowledge.c.Itisonecaseofmoralhazardthatapatientismorelikelytoapplyforhealthinsurance

4、thanhealthymen.d.Accordingtothetheoryofefficiencywages,firmswhopaywagesattheequilibriumlevelwilloperatemoreefficiently.e.TheintroductionofATMmachineshasmadeiteasiertowithdrawcashfromcheckingaccounts.Asaresult,theCentralBanknowhastobuymorebondsinthemarketev

5、erytimeitwantstoincreasethestockofmoneyintheeconomybyacertainamount.Problem2(10points)Supposethereisasmallfarmingeconomy.Itproducessomecornandimports7bushelsofcorn.Ofthese,80bushelsareconsumed,10goforgovernmentpurchasestofeedthearmy,and6gointodomesticinves

6、tmentasincreasesininventories,11bushelsareexported.Inaddition,taxesare12bushels.a.WhatistheGDPoftheeconomy?b.Calculateprivatesaving,publicsavingandnetcapitaloutflow.Thenexplaintherelationshipbetweensavingandinvestment.c.Assumingintheeconomy,womenhaveworked

7、morehoursinproducingcorn.HowwouldthisaffectGDP?Explaintheparadox,“Whenapersonmarrieshisorhergardener,GDPgoesdown.”DoyouthinkGDPisagoodmeasureofnationalaccounts?Problem3(10points)BelowaresomedataaboutPizzaandLatte.PizzaLatteyearPriceQuantityPriceQuantity200

8、610.004002.001000200711.005002.501100200812.006003.001200a.ComputetheGDPdeflatorforeachyear,using2006asthebaseyear.b.SupposethatthebaseyearfortheCPIis2006.IftheCPIbasketconsistsof400piecesofpizzaand1000cupsof