曼昆宏观经济学英语课后题答案之欧阳道创编.docx
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曼昆宏观经济学英语课后题答案之欧阳道创编
CHAPTER23:
MEASURINGANATION’SINCOME
时间：
2021.03.06
创作：
欧阳道
True/FalseIndicatewhetherthestatementistrueorfalse.
1.
Thecircularflowdiagramdescribesalltransactionsbetweenhouseholdsandfirmsinasimpleeconomyandshowstheequalityofexpendituresandincome.
ANSWER:
T
POINTS:
0/1
2.
Grossdomesticproductincludesmostitemsproducedandsoldillicitly.
ANSWER:
F
POINTS:
0/1
3.
Netnationalproductisthetotalincomeofanation’sresidentsminuslossesfromdepreciation.
ANSWER:
T
POINTS:
0/1
4.
Disposablepersonalincomeistheincomethathouseholdsandunincorporatedbusinesshaveleftaftersatisfyingalltheirobligationstothegovernment.Itequalspersonalincomeminuspersonaltaxesandcertainnon-taxpaymentstogovernment.
ANSWER:
T
POINTS:
0/1
5.
ThepurchaseofnewhousesbyhouseholdsisincludedinthecalculationofpersonalconsumptionexpendituresofGDP.
ANSWER:
F
POINTS:
0/1
MultipleChoiceIdentifythechoicethatbestcompletesthestatementoranswersthequestion.
1.
WhenGDPfalls,
a.
incomeandexpendituremustbothfall.
b.
incomeandexpenditurecanbothrise.
c.
incomemustfall,butexpendituremayriseorfall.
d.
expendituremustfall,butincomemayriseorfall.
ANSWER:
A
POINTS:
0/1
2.
Incomeequalsexpenditurebecause
a.
firmsalwayspayoutalltheirrevenueasincometosomeone.
b.
eachtimeasaleismade,thereisabuyerandaseller.
c.
householdsownthefactorsofproductionusedtogenerateincomes.
d.
Alloftheabovearecorrect.
ANSWER:
B
POINTS:
0/1
3.
Ifaprovincemakestheproductionandsaleofillicitdrugslegal,thenGDP
a.
mustincrease.
b.
mustdecrease.
c.
wouldn'tchange.
d.
mayincreaseordecrease.
ANSWER:
A
POINTS:
0/1
4.
Whenagovernmentprovidessubsidiestoencouragegrowthofsmallbusinesses,thesubsidieswould
a.
beincludedinGDPbecausetheyareinvestedbybusinesses.
b.
beincludedinGDPbecausetheyareaformofgovernmentspending.
c.
notbeincludedinGDPbecausetheyaretransferpayments.
d.
mayormaynotbeincludedinGDP,dependingonhowthefundsareused.
ANSWER:
C
POINTS:
0/1
5.
Dieselfuelis
a.
alwaysconsideredafinalgood.
b.
countedasanintermediategoodifacompanyusesittoprovidetransportationservices.
c.
countedasafinalgoodifafarmerusesittorunatractortogrowcrops.
d.
Bothbandcarecorrect.
ANSWER:
B
POINTS:
0/1
6.
Grossdomesticproduct
a.
isthemarketvalueofallfinalgoodsandservicesproducedwithinacountryinagivenperiod（usuallyayear）
b.
istheincomeinthehandsofindividualsafterdeductingincometaxes;incomeavailabletohouseholdstospendandsave
c.
isthevalueofgoodsandservicespurchasedbyalllevelsofgovernment—federal,provincial,andlocal—inagivenperiod
d.
isthemarketvalueofallfinalgoodsandservicesproducedbypermanentresidentsofanationinagiventimeperiod
ANSWER:
A
POINTS:
0/1
7.
Macroeconomicsisthatbranchofeconomicsthatstudies
a.
theconditionsofindividualmarkets
b.
theinfluenceofgovernmentsonindividualmarkets
c.
economy-widephenomena
d.
onlytheprivatesectoroftheeconomy
ANSWER:
C
POINTS:
0/1
8.
SupposethatnominalGDPis$6,000billionandrealGDPis$3,000.WhatistheGDPpricedeflator?
a.
125
b.
150
c.
200
d.
250
ANSWER:
C
POINTS:
0/1
9.
Thepurchaseoffinalgoodsandservicesbyhouseholdsiscalled
a.
investment
b.
publicsectorexpenditure
c.
consumption
d.
netexports
ANSWER:
C
POINTS:
0/1
10.
Investmentisthepurchaseofcapitalequipment,inventories,and
a.
structures
b.
non-durablegoods
c.
depreciation
d.
importinvestment
ANSWER:
A
POINTS:
0/1
11.
Transferpayments
a.
areincludedinGDPbecausetheyareformsofincome
b.
areincludedinGDPbecausegoodsandserviceshavebeenproducedinthetransfer
c.
areNOTincludedintheGDPbecausegoodsandserviceshavenotbeenproducedinthetransfer
d.
areincludedinGDPbecausetheyrepresenttheproductionoftransfersofgoodsandservicestoforeigncountries
ANSWER:
C
POINTS:
0/1
12.
Whichofthefollowingwouldbeconsideredconsumptionexpenditure?
a.
TheSmithsbuyahomebuiltin1990.
b.
ThefederalgovernmentpaysthesalaryofacaptainintheArmedForces.
c.
TheHostlersbuyanewcarthatwasmanufacturedinGermany.
d.
Thegovernmentbuysfoodforitsarmedforces.
ANSWER:
C
POINTS:
0/1
13.
ThemethodthatmeasuresGDPinrelationshiptothesizeofthepopulationiscalled
a.
GNP
b.
workerGDP
c.
GDPperperson
d.
capitalGDP
ANSWER:
C
POINTS:
0/1
14.
ThecomponentsofGDPare
a.
C+I+G
b.
NX+G+C
c.
C+G+NX
d.
C+I+G+NX
ANSWER:
D
POINTS:
0/1
15.
SupposenominalGDPis$7700andtheGDPdeflatoris110.RealGDPis
a.
$7700
b.
$7000
c.
$847,000
d.
$8470
ANSWER:
B
POINTS:
0/1
ShortAnswer
1.
Whatarethecomponentsofgrossdomesticproduct（GDP）?
RESPONSE:
ANSWER:
ThecomponentsofGDPare:
（1）consumptionspendingbyhouseholdsongoodsandservices,withtheexceptionofpurchasesofnewhousing;
（2）Investmentspendingoncapitalequipment,inventories,andstructures,includinghouseholdpurchasesofnewhousing;（3）governmentpurchasesorspendingongoodsandservicesbythelocal,provincial,andfederallevelsgovernments;and（4）netexportswhichisspendingondomesticallyproducedgoodsandservicesbyforeigners（exports）minusspendingonforeigngoodsandservicesbydomesticresident（imports）.
POINTS:
--/1
2.
Differentiatebetweengrossdomesticproduct（GDP）andgrossnationalproduct（GNP）.
RESPONSE:
ANSWER:
GDPisthevalueofallfinalgoodsandservicesproducedwithinacountryinagivenyear;whileGNPisthetotalincomeearnedbyanation’spermanentresidentsornationals（thatis,Canadians）.GNPdiffersfromGDPbyincludingincomethatcitizensofthenation（Canada）earnedaboard,andexcludingincomethatforeignersearnintheparticularcountry（E.g.inCanada）.
POINTS:
--/1
3.
DifferentiatebetweenrealGDPandnominalGDP.
RESPONSE:
ANSWER:
NominalGDPisthevalueofallfinalgoodsandservicesproducedwithinacountryinayearandvaluedatcurrentprices;andrealGDPistheGDPvaluedatconstantbaseyearprices. RealGDPisnotaffectedbychangesinthelevelofprices,soitreflectsonlychangesintheamountsbeingproduced.
POINTS:
--/1
4.
ExplainwhyGDPisnotconsideredaperfectmeasureofwell-being?
RESPONSE:
ANSWER:
GDPisnotconsideredaperfectmeasureofwell-beingbecausesomeofthefactorsthatcontributetoagoodlifeareomitted. Thesewouldinclude:
leisuretime,thequalityoftheenvironment,thedistributionofincome,andtheproductionofgoodsandservicesthatdidnotpasthroughthemarket（forexample,houseworkdonebythehomemaker,andvolunteerwork）
POINTS:
--/1
5.
Howdoeconomistsmeasureeconomicgrowth?
RESPONSE:
ANSWER:
EconomistsmeasureeconomicgrowthasthepercentagechangeinrealGDPfromoneperiodtoanother.ThisisbecausechangesinrealGDPreflectonlychangesintheamountsbeingproduced.
POINTS:
--/1
CHAPTER24:
MEASURINGTHECOSTOFLIVING
True/FalseIndicatewhetherthestatementistrueorfalse.
1.
TheGDPdeflatorreflectsthepricesofgoodsandservicesboughtbyconsumers, andtheconsumerpriceindexreflectsthepriceofallfinalgoodsandservicesproduceddomestically.
ANSWER:
F
POINTS:
0/1
2.
Theconsumerpriceindexcomparesthepriceofafixedbasketofgoodsandservicestothepriceofthebasketinthebaseyear.Ontheotherhand,theGDPdeflatorcomparesthepriceofcurrentlyproducedgoodsandservicestothepriceofthesamegoodsandservicesinthebaseyears.
ANSWER:
T
POINTS:
0/1
3.
Indexationreferstotheautomaticcorrectionofadollaramountfortheeffectsofinflationbylaworcontract.
ANSWER:
T
POINTS:
0/1
4.
Longtermcontractsbetweenfirmsandunionswillsometimesincludepartialorcompleteindexationofthewagetotheconsumerpriceindex.Thisiscalledacost-of-livingallowanceclause.
ANSWER:
T
POINTS:
0/1
5.
Thecoreinflationrateistheconsumerpriceindexwiththeexclusionofthemostvolatilecomponentssuchasenergyandfood.
ANSWER:
T
POINTS:
0/1
MultipleChoiceIdentifythechoicethatbestcompletesthestatementoranswersthequestion.
1.
IntheCPI,goodsandservicesareweightedaccordingto
a.
howmuchatypicalconsumerbuysofeachitem.
b.
whethertheitemsarenecessitiesorluxuries.
c.
howmuchofeachitemisproducedinthedomesticeconomy.
d.
howmuchisspentontheminthenationalincomeaccounts.
ANSWER:
A
POINTS:
0/1
2.
Bynottakingintoaccountthepossibilityofconsumersubstitution,theCPI
a.
understatesthestandardofliving.
b.
overstatesthecostofliving.
c.
neitheroverstatesnorunderstatesthecostofliving.
d.
doesn'taccuratelyreflectthecostofliving,butitisunclearifitoverstatesorunderstatesthecostofliving.
ANSWER:
B
POINTS:
0/1
3.
IfthepricesofBrazilian-madeshoesimportedintoCanadaincreases,then
a.
bothCanada’sGDPdeflatorandit’sc
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