課程名稱︰總體經濟學原理
課程性質︰必修/通識 A5
課程教師︰吳中書
開課學院：
開課系所︰
考試日期（年月日）︰2023/6/5
考試時限（分鐘）：110 分鐘
試題 :
1. Chloe takes $100 of currency from her wallet and deposits it into her
checking account. If the bank adds the entire $100 to reserves, the money
supply ____, but if the bank lends out some of the $100, the money supply
____.
a. increases, increases even more
b. increases, increases by less
c. is unchanged, increases
d. decreases, decreases by less
2. Which of the following actions by the Fed would reduce the money supply?
a. an open-market purchase of government bonds
b. a reduction in banks' reserve requirements
c. an increase in the interest rate paid on reserves
d. a decrease in the discount rate on Fed lending
3. Sam withdraws $5,000 from her savings account to purchase $5,000 worth of
traveler's checks. Then,
a. M1 increases by $5,000 and M2 decreases by $5,000.
b. M1 decreases by $5,000 and M2 increases by $5,000.
c. M1 increases by $5,000 and M2 stays the same.
d. M1 and M2 stay the same.
4. Which of the following statements is true?
a. Efficiency wages help reduce unemployment while minimum wages increase
unemployment.
b. Both efficiency wages and minimum wages increase unemployment.
c. Both efficiency wages and minimum wages help reduce unemployment.
d. Efficiency wages increase unemployment while minimum wages help reduce
unemployment.
5. The theory of efficiency wages explains why
a. setting wages at the equilibrium level may increase unemployment.
b. it may be in the best interest of firms to offer wages that are above the
equilibrium level.
c. the most efficient way to pay workers is to pay them according to their
skills.
d. it is efficient for firms to set wages at the equilibrium level.
6. The number of adults not in the work force of a country equals 6 million
and the number of individuals employed is 5 million. If there are 12 million
potential adult workers in the economy, what is the current unemployment rate
in this
country?
a. 12.45 percent
b. 16.67 percent
C. 21 percent
d. 30.55 percent
7. When a minimum-wage law forces the wage to remain above the equilibrium
level, the result is ____.
a. both a shortage of labor and a shortage of jobs.
b. a shortage of labor and a surplus of jobs.
c. causing frictional unemployment.
d. causing structural unemployment.
8. If the natural rate of unemployment is 4.7 percent and the actual rate of
unemployment is 5.5 percent, then by definition there is
a. cyclical unemployment amounting to 0.8 percent of the labor force.
b. frictional unemployment amounting to 0.8 percent of the labor force.
c. structural unemployment associated with business cycles.
d. frictional unemployment associated with job search.
9. If saving is greater than domestic investment, then there is a trade
a. deficit and Y > C + I + G.
b. deficit and Y < C + I + G.
c. surplus and Y > C + I + G.
d. surplus and Y < C + I + G.
10. A depreciation of the U.S. real exchange rate induces U.S. consumers to
buy
a. fewer domestic goods and fewer foreign goods.
b. more domestic goods and fewer foreign goods.
c. fewer domestic goods and more foreign goods.
d. more domestic goods and more foreign goods.
11. The "law of one price" states that
a. a good must sell at the price fixed by law.
b. a good must sell at the same price at all locations.
c. a good cannot sell for a price greater than the legal price ceiling.
d. nominal exchange rates will not vary.
12. Suppose a Starbucks tall latte costs $4.00 in the United States and 2.50
euros in the Euro area. Also, suppose a McDonald's Big Mac costs $4.50 in the
United States and 3.60 euros in the Euro area. If the nominal exchange rate
is 0.80 euros per dollar, which goods have prices that are consistent with
purchasing-power parity?
a. Both the tall latte and the Big Mac
b. The tall latte but not the Big Mac
c. The Big Mac but not the tall latte
d. Neither the Big Mac nor the tall latte
https://i.imgur.com/rKIGwUt.png
13. Refer to Figure. If the money supply is MS2 and the value of money is 4,
then the quantity of money
a. demanded is greater than the quantity supplied; the price level will rise.
b. demanded is greater than the quantity supplied; the price level will fall.
c. supplied is greater than the quantity demanded; the price level will rise.
d. supplied is greater than the quantity demanded; the price level will fall.
14. Refer to Figure. When the money supply curve shifts from MS1 to MS2,
a. the equilibrium value of money decreases.
b. the equilibrium price level decreases.
c. the supply of money has decreased.
d. the demand for goods and services will decrease.
15. During the 2008 financial crisis velocity decreased. This means that the
rate at which money changed hands
a. decreased. Other things the same, a decrease in velocity decreases the
price level.
b. decreased. Other things the same, a decrease in velocity increases the
price level.
c. increased. Other things the same, an increase in velocity decreases the
price level.
d. increased. Other things the same, an increase in velocity increases the
price level.
16. Consider an open economy case and suppose the Purchasing-Power Parity
hypothesis holds. What happens when the government cuts spending to reduce
the budget deficit?
a. The net export increased and the real exchange rate depreciated.
b. The net export remained unchanged but the real exchange rate appreciated.
c. Both net export and real exchange rate remain unchanged.
d. The net export increased but the real exchange rate remained unchanged.
17. During the financial crisis, it was proposed that firms be provided with
a tax credit for investment projects. Such a tax credit would shift
a. both the demand for loanable funds and the supply of dollars in the market
for foreign-currency exchange right.
b. the demand for loanable funds right and shift the supply of dollars in the
market for foreign-currency exchange left.
c. the demand for loanable funds left and shift the supply of dollars in the
market for foreign-currency exchange right.
d. both the demand for loanable funds and the supply of dollars in the market
for foreign-currency exchange left.
18. According to monetary neutrality, changes in the money supply affect
a. the unemployment rate
b. real GDP
c. the GDP deflator
d. none of the above
19. Why is the aggregate-supply curve upward sloping in the short-run?
a. higher price level raises nominal wages if real wages are sticky.
b. higher price level reduces nominal wages if real wages are sticky.
c. higher price level raises real wages if nominal wages are sticky.
d. reduces real wages if nominal wages are sticky.
20. Walmart, a U.S. company, borrows money to buy a warehouse in California
(in the U.S.) and another in Canada. Borrowing for which warehouse(s) is
included in the demand for loanable funds in U.S.?
a. Only the one in California, another one is included in the demand for
loanable funds in Canada.
b. Only the one in Canada.
c. Neither the one in California nor the one in Canada.
d. Both the one in Canada and the one in California.
21. If the United States were to impose import quotas
a. the demand for loanable funds and the demand for dollars in the market for
foreign-currency exchange would both increase.
b. neither the demand for loanable funds nor the demand for dollars in the
market for foreign-currency exchange would increase.
c. the demand for loanable funds would increase, but the demand for dollars
in the market for foreign-currency exchange would not.
d. the demand for dollars in the market for foreign-currency exchange would
increase, but the demand for loanable funds would not.
22. A U.S. company uses pound sterlings it already owned to purchase bonds
issued by a company in Germany. Which of these countries has an increase in
net capital outflow?
a. Neither Germany nor the U.S.
b. Germany but not the U.S.
c. The U.S. but not Germany
d. Both Germany and the U.S.
23. When stagflation occurs, which of the following is true?
a. The long-run aggregate supply will shift to the left as a result of supply
shock.
b. Both output and the price level fall.
c. According to the Phillips curve, if the price level rises, employment will
be higher.
d. Aggregate demand management can mitigate the impact at the cost of further
inflation.
24. Liquidity preference theory is most relevant to the
a. short run and supposes that the price level adjusts to bring money supply
and money demand into balance.
b. short run and supposes that the interest rate adjusts to bring money
supply and money demand into balance.
c. long run and supposes that the price level adjusts to bring money supply
and money demand into balance.
d. long run and supposes that the interest rate adjusts to bring money supply
and money demand into balance.
25. While a television news reporter might state that "Today the Fed raised
the federal funds rate from 1 percent to 1.25 percent," a more precise
account of the Fed's action would be as follows:
a. "Today the Fed told its bond traders to conduct open-market operations in
such a way that the equilibrium federal funds rate would increase to 1.25
percent.”
b. "Today the Fed raised the discount rate by a quarter of a percentage
point, and this action will force the federal funds rate to rise by the same
amount.”
c. "Today the Fed took steps to increase the money supply by an amount that
is sufficient to increase the federal funds rate to 1.25 percent.”
d. "Today the Fed took a step toward expanding aggregate demand, and this was
done by raising the federal funds rate to 1.25 percent.”
26. Which of the following illustrates how the investment accelerator works?
a. An increase in government expenditures increases the interest rate so that
the Hair City chain of hair salons decides to build fewer new salons.
b. An increase in government expenditures increases aggregate spending so
that Hair City finds it profitable to build more new salons.
c. An increase in government expenditures increases the interest rate so that
the demand for stocks and bonds issued by Hair City increases.
d. An increase in government expenditures decreases the interest rate so that
Hair City decides to build more new salons.
27. If the marginal propensity to consume is 0.75, and there is no investment
accelerator or crowding out, a $115 billion increase in government
expenditures would shift the aggregate demand curve right by
a. $460 billion, but the effect would be larger if there were an investment
accelerator.
b. $460 billion, but the effect would be smaller if there were an investment
accelerator.
c. $345 billion, but the effect would be larger if there were an investment
accelerator.
d. $345 billion, but the effect would be smaller if there were an investment
accelerator.
28. If a $1,000 increase in income leads to an $800 increase in consumption
expenditures, then the marginal propensity to consume is
a. 0.2 and the multiplier is 1.25.
b. 0.8 and the multiplier is 5.
c. 0.2 and the multiplier is 5.
d. 0.8 and the multiplier is 8.
29. Suppose there was a large increase in net exports. If the Fed wanted to
stabilize output, it could
a. increase the money supply, which will reduce interest rates.
b. decrease the money supply, which will reduce interest rates.
c. increase the money supply, which will increase interest rates.
d. decrease the money supply, which will increase interest rates.
30. Which of the following policies would be advocated by someone who wants
the government to follow an active stabilization policy when the economy is
experiencing severe unemployment?
a. Decrease the money supply
b. Increase government expenditures
c. Increase taxes
d. Increase interest rates
______________________________________
答案:
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