经济学：世界经济分析(三)及答案解析.doc

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1、经济学：世界经济分析(三)及答案解析(总分：41.00，做题时间：90 分钟)一、B单项选择题/B(总题数：41，分数：41.00)1.Supply-side economics focuses on the impact of: A. government borrowing on interest rates and private consumption and investment. B. higher government spending and lower taxes on aggregate demand. C. axes on the incentive to engage

2、in productive activities.（分数：1.00）A.B.C.2.Which one of the following is least accurate with regard to money serving as a medium of exchange? Without money to serve as a medium of exchange: A. peoples standard of living would probably decline. B. people would continue to enjoy their current standard

3、of living and countries would become more self-sufficient in production of goods and services. C. the transaction cost of exchange would increase.（分数：1.00）A.B.C.3.The Laffer curve begins at: A. zero tax revenues and ends at zero tax revenues. B. zero tax revenues and ends at maximum theoretical tax

4、revenues. C. minimum tax revenues and ends at maximum theoretical tax revenues.（分数：1.00）A.B.C.4.When the economy is operating at potential GDP, an unannounced decrease in the rate of growth of the money supply intended to reduce inflation will most likely lead to. lower inflation and: A. a decrease

5、in output in both the short run and the long run. B. no change in output in both the short run and the long run. C. a decrease in output in the short run, and lower inflation but no change in output in the long run.（分数：1.00）A.B.C.5.At a recent staff meeting of Economic Advisers Inc. , a think-tank l

6、ocated in Washington, DC, Mitchell Jung made the following statements regarding the main economic functions of depository institutions. Statement 1: One of the main economic functions of depository institutions is to act as financial intermediaries. By doing so, they lower the borrowers cost of fund

7、s from what it would otherwise be if borrowers had to seek out individuals willing to lend. Statement 2: Depository institutions create liquidity by using loans they take in to have funds available to pay interest on short-term deposits. Are Statement 1 and Statement 2 as made by Jung correct? State

8、ment 1 Statement 2 A. Incorrect Incorrect B. Correct Incorrect C. Incorrect Correct A. B. C. （分数：1.00）A.B.C.6.The crowding-out model suggests that the stimulus effect of increased government expenditures will be modified by changes in real interest rates and the flow of foreign financial capital, be

9、 cause real interest rates will: A. rise and inflows of financial capital from outside the country will increase. B. rise and inflows of financial capital from outside the country will decrease. C. fall and inflows of financial capital from outside the country will increase.（分数：1.00）A.B.C.7.An incre

10、ase in which one of the following monetary measures would best complement fiscal measures that are designed to stimulate aggregate demand during a period of high unemployment? A. Reserve requirements. B. Treasury securities held by the Federal Reserve. C. The Federal Reserves discount rate.（分数：1.00）

11、A.B.C.8.At a recent conference, Joe DiSanto and Michael Depasquale were discussing a recent Federal Reserve policy shift that led to an increase in banks excess reserves. They each offered an explanation as to why this would cause an increase in bank loans and investments: DiSanto: “Banks are requir

12、ed by law to expand the number of loans they originate when the Fed creates excess reserves. “ Depasquale: “It is risky to hold excess reserves, whereas loans and investments are less risky. “ Are DiSanto and Depasquales statements correct? DiSanto Depasquale A. Incorrect Incorrect B. Correct Incorr

13、ect C. Incorrect Correct A. B. C. （分数：1.00）A.B.C.9.Which of the following statements concerning inflation is least accurate? A. Inflation tends to erode the purchasing power of a currency. B. There are two fundamental types of inflation, demand-pull and cost-push. C. Anticipated changes in inflation

14、 have greater impacts on real economic outcomes than unanticipated changes.（分数：1.00）A.B.C.10.If the velocity of money is increasing at a rate of 1 percent per year and real GDP is increasing at 2%, a 4% increase in the money supply will lead to: A. 6% inflation. B. 5% inflation. C. 3% inflation.（分数：

15、1.00）A.B.C.11.Which of the following statements best describes automatic stabilizers? Although no legislative action has been taken, automatic stabilizers are programs that apply: A. restraint during a recession and stimulus during an economic boom. B. restraint during a recession but do not apply s

16、timulus during an economic boom. C. stimulus during a recession and restraint during an economic boom.（分数：1.00）A.B.C.12.Which of the following is least likely an automatic stabilizer? A. Property taxes. B. Corporate profit taxes. C. Unemployment compensation.（分数：1.00）A.B.C.13.Which of the following

17、is an effect of expansionary monetary policy? A. lower prices. B. lower real output. C. higher employment.（分数：1.00）A.B.C.14.Joe DeRita is giving an economic briefing before the Senate Banking Committee. During his testimony, Senator Morris Howard states, “Based on the Phillips curve relationship, if

18、 we increase the inflation rate from 3% to 5% , we can achieve a reduction in the rate of unemployment in both the short run and the long run. “ Senator Lawrence Fine adds, “Furthermore, if the central bank is able to credibly announce that they will maintain the money supply growth rate, so that th

19、e increased inflation rate is well anticipated, borrowers, lenders, workers, and employers will incorporate the new higher rate of inflation into long-term contracts, so there will be no adverse impact on the economy. “ Should DeRita agree or disagree with the two Senators? M. Howard L. Fine A. Agre

20、e Agree B. Agree Disagree C. Disagree Disagree A. B. C. （分数：1.00）A.B.C.15.Assume the economy is undergoing a recession. In its efforts to stimulate the economy by trying to influence short-term interest rates the Fed is most likely to take which two actions? A. Sell Treasury securities and increase

21、bank reserve requirements. B. Buy Treasury securities and decrease bank reserve requirements. C. Buy Treasury securities and increase bank reserve requirements.（分数：1.00）A.B.C.16.Which of the following would be counted as frictional unemployment? A. Due to the negative growth of GDP, Smith was laid o

22、ff. B. Johnson was fired from his job after he got into an argument with his foreman. C. Although there were jobs available, Jones was unable to find an employer with an opening.（分数：1.00）A.B.C.17.An asset that will allow people to transfer purchasing power from one period to the next is known as a:

23、A. liquid asset. B. unit of account. C. store of value.（分数：1.00）A.B.C.18.Excess reserves of banks are equal to: A. required reserves plus demand deposits. B. required reserves minus actual reserves. C. actual reserves minus required reserves.（分数：1.00）A.B.C.19.Anticipating the effects of monetary pol

24、icy: A. makes monetary policy more effective as an instrument of stabilization policy. B. increases the resulting change in real output and employment. C. can result in real and nominal interest rates moving in opposite directions.（分数：1.00）A.B.C.20.Which of the following will not cause a change in t

25、he demand for money? A. an increase in the nominal value of transactions. B. inflation. C. a change in the real interest rate.（分数：1.00）A.B.C.21.Initially, the nominal interest rate is 8 percent and the expected rate of inflation is 6 percent. One year later, the nominal interest rate rises to 12 per

26、cent and inflation rate to 10 percent.Based on this information the interest rate: A. has risen. B. has fallen. C. has remained the same.（分数：1.00）A.B.C.22.The federal government seeks ways to increase the total investment component of GDP. In response to the governments objective, economist Scan Zad

27、ora recommends that the federal government lower taxes on interest earned on savings accounts. Zadoras colleague, Timothy Smythe, recommends that the federal government reduce its budget deficit. Regarding the statements made by Zadora and Smythe: Zadora Smythe A. Correct Incorrect B. Correct Correc

28、t C. Incorrect Ineorrect A. B. C. （分数：1.00）A.B.C.23.The crowding-out model suggests that persistent, large government budget deficits are most likely to be associated with a(n): A. increase in net exports. B. decrease in private spending. C. decrease in the real rate of interest.（分数：1.00）A.B.C.24.Th

29、e quantity theory of money states that: A. a decrease in the money supply will cause a proportional increase in prices. B. monetary and fiscal policy must be used in tandem. C. an increase in the money supply will cause a proportional increase in prices.（分数：1.00）A.B.C.25.Edmund Jones, an economist,

30、recommends that the federal government consider reducing its budget deficit during a recession by raising income taxes with no other fiscal policy changes. Jones income tax increase recommendation will most likely have the following effects on the supply of labor and on potential GDP? Supply of labo

31、r Potential GDP A. Decrease Decrease B. Decrease Increase C. Increase Decrease A. B. C. （分数：1.00）A.B.C.26.In a full employment economy, the quantity theory of money states that any increase in the sup ply of money will lead to: A. increased prices. B. increased velocity. C. increased production.（分数：

32、1.00）A.B.C.27.Michael Vincent and Elizabeth Matthews, economists at Macro Associates, conduct research into the effects of fiscal policy on the economy. Vincent states that government taxing decisions affect the supply of labor. Matthews contends that government taxing decisions affect potential GDP

33、. Regarding the statements made by Vincent and Matthews: Vincent Matthews A. Correct Incorrect B. Incorrect Correct C. Correct Correct A. B. C. （分数：1.00）A.B.C.28.An expansionary fiscal policy is most likely to include a(n): A. Increase in government expenditures and a decrease n tax rates. B. decrea

34、se in both government expenditures and tax rates. C. increase in both government expenditures and tax rates.（分数：1.00）A.B.C.29.The public decides to decrease its holdings of currency and to increase its holdings of checking account funds by an equal amount. If the Federal Reserve does not take any of

35、fsetting actions, how will the money supply be affected? A. The money supply will decrease. B. Although the action does not directly affect the money supply, it will reduce the excess reserves of banks and tend to indirectly reduce the money supply. C. The action does not directly affect the money s

36、upply; it will increase the excess reserves of banks and tend to increase the money supply because banks may expand their loans.（分数：1.00）A.B.C.30.If households are holding larger real money balances than they desire, which of the following is least likely? A. The opportunity cost of holding money ba

37、lances will decrease. B. Households will bid up securities prices. C. The central bank must sell securities to absorb the excess money supply and establish equilibrium.（分数：1.00）A.B.C.31.To be useful, a measure of inflation for an economy would most likely reflect information about the change in pric

38、es of: A. goods only. B. goods and services only. C. goods, services, and financial assets only.（分数：1.00）A.B.C.32.With respect to discretionary changes in both monetary and fiscal policy, the time period necessary to gather and tabulate reliable information about an economys performance is best desc

39、ribed as the: A. impact lag. B. recognition lag. C. administrative lag.（分数：1.00）A.B.C.33.Which of the following is least likely to result from an increase in the rate of growth in the money supply? A. A higher nominal risk-flee rate. B. A higher real risk-free rate. C. Higher expected inflation.（分数：

40、1.00）A.B.C.34.When real interest rates fall as a result of an unexpected expansionary monetary policy of government: A. aggregate demand decreases leading to both an increase in current output and higher prices in the short run. B. aggregate demand increases leading to both an increase in current ou

41、tput and higher prices in the short run. C. aggregate demand increases leading to both a decrease in current output and higher prices in the short run.（分数：1.00）A.B.C.35.You are expecting an additional payment of 52000 of income this year. You intend to save 5 500 of the 5 2000. According to the mult

42、iplier effect, total spending will increase by a total amount of: A. 51500. B. 54000. C. 56000.（分数：1.00）A.B.C.36.In the long run, when the economy is at full employment, will a decrease in the quantity of money due to restrictive monetary policy that brings a decrease in aggregate demand likely resu

43、lt in: the price level? real GDP? A. No No B. No Yes C. Yes No A. B. C. （分数：1.00）A.B.C.37.The short-run relationship between unexpected inflation and: A. unemployment is positive. B. unemployment is negative. C. actual inflation is positive.（分数：1.00）A.B.C.38.Assume the reserve requirement is 10 perc

44、ent. First National Bank has cash (and deposits with the Federal Reserve) of $25 million, loans and securities of $175 million, and demand deposits of $ 200 million. First National is in a position to make additional loans of: A. $ 5.0 million. B. $17.5 million. C. $ 20.0 million.（分数：1.00）A.B.C.39.W

45、hich of the following are problems in measuring unemployment?. In order to be classified as unemployed, one must be looking for a job. People may be busy but their activities are outside the market labor force. Unemployed workers who are seeking work are included in the labor force along with employ

46、ed workers A. only. B. only. C. all of the above.（分数：1.00）A.B.C.40.Which of the following statements about the basic functions of money is TRUE? A. When money is defined as a medium of exchange, it means that money enables value to be stored and transported. B. Moneys value is directly related to th

47、e level of prices. C. Moneys function as a unit of account allows individuals to account for debts.（分数：1.00）A.B.C.41.Assume that the reserve requirement is 20 percent and banks currently have no excess reserves. If excess reserves stay at zero and the Federal Reserve buys $100 million of Treasury bi

48、lls from the public, the money supply would increase by: A. $20 million. B. $100 million. C. $500 million.（分数：1.00）A.B.C.经济学：世界经济分析(三)答案解析(总分：41.00，做题时间：90 分钟)一、B单项选择题/B(总题数：41，分数：41.00)1.Supply-side economics focuses on the impact of: A. government borrowing on interest rates and private consumptio

49、n and investment. B. higher government spending and lower taxes on aggregate demand. C. axes on the incentive to engage in productive activities.（分数：1.00）A.B.C. 解析：The effect of taxes on the incentive to engage in productive activities and thus on aggregate supply is the focus of supply-side economics.2.Which o