经济学原理对应练习35.docx

经济学原理对应练习35.docx

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经济学原理对应练习35

Chapter35

TheShort-RunTrade-offbetweenInflationandUnemployment

MultipleChoice

1.Closelywatchedindicatorssuchastheinflationrateandunemploymentarereleasedeachmonthbythe

a.BureauoftheBudget.

b.BureauofLaborStatistics.

c.DepartmentoftheTreasury.

d.President'sCouncilofEconomicAdvisors.

ANS:

BPTS:

1DIF:

1REF:

35-1

TOP:

BureauofLaborStatisticsMSC:

Definitional

2.Themiseryindexiscalculatedasthe

a.inflationrateplustheunemploymentrate.

b.unemploymentrateminustheinflationrate.

c.actualinflationrateminustheexpectedinflationrate.

d.naturalunemploymentrateplusthelong-runinflationrate.

ANS:

APTS:

1DIF:

1REF:

35-1

TOP:

MiseryindexMSC:

Definitional

3.Themiseryindexissupposedtomeasurethe

a.socialcostofunemployment.

b.healthoftheeconomy.

c.lostoutputassociatedwithaparticularunemploymentrate.

d.short-runtradeoffbetweeninflationandunemployment.

ANS:

BPTS:

1DIF:

1REF:

35-1

TOP:

MiseryindexMSC:

Definitional

4.Onedeterminantofthenaturalrateofunemploymentisthe

a.rateofgrowthofthemoneysupply.

b.minimumwagerate.

c.expectedinflationrate.

d.Alloftheabovearecorrect.

ANS:

BPTS:

1DIF:

1REF:

35-1

TOP:

NaturalrateofunemploymentMSC:

Definitional

5.Onedeterminantofthelong-runaverageunemploymentrateisthe

a.marketpowerofunions,whiletheinflationratedependsprimarilyupongovernmentspending.

b.minimumwage,whiletheinflationratedependsprimarilyuponthemoneysupplygrowthrate.

c.rateofgrowthofthemoneysupply,whiletheinflationratedependsprimarilyuponthemarketpowerofunions.

d.existenceofefficiencywages,whiletheinflationratedependsprimarilyupontheextenttowhichfirmsarecompetitive.

ANS:

BPTS:

1DIF:

1REF:

35-1

TOP:

Long-runPhillipscurveMSC:

Interpretive

6.Inthelongrun,theinflationratedependsprimarilyon

a.theabilityofunionstoraisewages.

b.governmentspending.

c.themoneysupplygrowthrate.

d.themonopolypoweroffirms.

ANS:

CPTS:

1DIF:

2REF:

35-1

TOP:

InflationMSC:

Definitional

7.Inthelongrun,

a.thenaturalrateofunemploymentdependsprimarilyonthelevelofaggregatedemand.

b.inflationdependsprimarilyuponthemoneysupplygrowthrate.

c.thereisatradeoffbetweentheinflationrateandthenaturalrateofunemployment.

d.Alloftheabovearecorrect.

ANS:

BPTS:

1DIF:

2REF:

35-1

TOP:

Long-runPhillipscurveMSC:

Interpretive

8.Thereisa

a.short-runtradeoffbetweeninflationandunemployment.

b.short-runtradeoffbetweentheactualunemploymentrateandthenaturalrateofunemployment.

c.long-runtradeoffbetweeninflationandunemployment.

d.long-runtradeoffbetweentheactualunemploymentrateandthenaturalrateofunemployment.

ANS:

APTS:

1DIF:

1REF:

35-1

TOP:

PhillipscurveMSC:

Definitional

9.Ifpolicymakersdecreaseaggregatedemand,thepricelevel

a.falls,butunemploymentrises.

b.andunemploymentfall.

c.andunemploymentrise.

d.rises,butunemploymentfalls.

ANS:

APTS:

1DIF:

1REF:

35-1

TOP:

Short-runPhillipscurve|ContractionarypolicyMSC:

Analytical

10.Ifpolicymakersincreaseaggregatedemand,thepricelevel

a.falls,butunemploymentrises.

b.andunemploymentfall.

c.andunemploymentrise.

d.rises,butunemploymentfalls.

ANS:

DPTS:

1DIF:

1REF:

35-1

TOP:

Short-runPhillipscurve|ExpansionarypolicyMSC:

Analytical

11.Intheshortrun,policythatchangesaggregatedemandchanges

a.bothunemploymentandthepricelevel.

b.neitherunemploymentnorthepricelevel.

c.onlyunemployment.

d.onlythepricelevel.

ANS:

APTS:

1DIF:

1REF:

35-1

TOP:

Short-runequilibriumMSC:

Applicative

12.Ifthegovernmentraisesgovernmentexpenditures,intheshortrun,prices

a.riseandunemploymentfalls.

b.fallandunemploymentrises.

c.andunemploymentrise.

d.andunemploymentfall.

ANS:

APTS:

1DIF:

2REF:

35-1

TOP:

FiscalpolicyMSC:

Analytical

13.Ifthecentralbankincreasesthemoneysupply,intheshortrun,prices

a.riseandunemploymentfalls.

b.fallandunemploymentrises.

c.andunemploymentrise.

d.andunemploymentfall.

ANS:

APTS:

1DIF:

2REF:

35-1

TOP:

ExpansionarypolicyMSC:

Analytical

14.Unemploymentwoulddecreaseandpricesincreaseif

a.aggregatedemandshiftedright.

b.aggregatedemandshiftedleft.

c.aggregatesupplyshiftedright.

d.aggregatesupplyshiftedleft.

ANS:

APTS:

1DIF:

2REF:

35-1

TOP:

Short-runequilibriumMSC:

Applicative

15.Ifpolicymakersexpandaggregatedemand,theninthelongrun

a.priceswillbehigherandunemploymentwillbelower.

b.priceswillbehigherandunemploymentwillbeunchanged.

c.pricesandunemploymentwillbeunchanged.

d.Noneoftheaboveiscorrect.

ANS:

BPTS:

1DIF:

2REF:

35-1

TOP:

Long-runaggregatesupply|ExpansionarypolicyMSC:

Analytical

16.Ifpolicymakersdecreaseaggregatedemand,theninthelongrun

a.priceswillbelowerandunemploymentwillbehigher.

b.priceswillbelowerandunemploymentwillbeunchanged.

c.inflationandunemploymentwillbeunchanged.

d.Noneoftheaboveiscorrect.

ANS:

BPTS:

1DIF:

2REF:

35-1

TOP:

Long-runaggregatesupply|ContractionarypolicyMSC:

Analytical

17.Inthelongrun,policythatchangesaggregatedemandchanges

a.bothunemploymentandthepricelevel.

b.neitherunemploymentnorthepricelevel.

c.onlyunemployment.

d.onlythepricelevel.

ANS:

DPTS:

1DIF:

2REF:

35-1

TOP:

Long-runPhillipscurveMSC:

Analytical

18.In2001,CongressandPresidentBushinstitutedtaxcuts.Accordingtotheshort-runPhillipscurvethischangeshouldhave

a.reducedinflationandunemployment.

b.raisedinflationandunemployment.

c.reduceinflationandraisedunemployment.

d.raisedinflationandreducedunemployment.

ANS:

DPTS:

1DIF:

1REF:

35-1

TOP:

Short-runPhillipscurveMSC:

Applicative

19.Theshort-runrelationshipbetweeninflationandunemploymentisoftencalled

a.theClassicalDichotomy.

b.MoneyNeutrality.

c.thePhillipscurve.

d.theKeynesiancross.

ANS:

CPTS:

1DIF:

1REF:

35-1

TOP:

PhillipscurveMSC:

Definitional

20.Phillipsfounda

a.positiverelationbetweenunemploymentandinflationintheUnitedKingdom.

b.positiverelationbetweenunemploymentandinflationintheUnitedStates.

c.negativerelationbetweenunemploymentandinflationintheUnitedStates.

d.negativerelationbetweenunemploymentandinflationintheUnitedKingdom.

ANS:

DPTS:

1DIF:

2REF:

35-1

TOP:

PhillipscurveMSC:

Definitional

21.Phillipsfoundanegativerelationbetween

a.outputandunemployment.

b.outputandemployment.

c.wageinflationandoutput.

d.wageinflationandunemployment.

ANS:

DPTS:

1DIF:

1REF:

35-1

TOP:

PhillipscurveMSC:

Definitional

22.A.W.Phillips'findingswerebasedondata

a.from1861-1957fortheUnitedKingdom.

b.from1861-1957fortheUnitedStates.

c.mostlyfromthepost-WorldWarIIperiodintheUnitedKingdom.

d.mostlyfromthepost-WorldWarIIperiodintheUnitedStates.

ANS:

APTS:

1DIF:

2REF:

35-1

TOP:

PhillipscurveMSC:

Definitional

23.Iftheshort-runPhillipscurvewerestable,whichofthefollowingwouldbeunusual?

a.anincreaseingovernmentspendingandafallinunemployment

b.anincreaseininflationandadecreaseinoutput

c.adecreaseintheinflationrateandariseintheunemploymentrate

d.adecreaseinthemoneysupplyandariseinunemployment.

ANS:

BPTS:

1DIF:

2REF:

35-1

TOP:

Short-runPhillipscurveMSC:

Interpretive

24.SamuelsonandSolowreasonedthatwhenaggregatedemandwashigh,unemploymentwas

a.low,sotherewasupwardpressureonwagesandprices.

b.low,sotherewasdownwardpressureonwagesandprices.

c.high,sotherewasupwardpressureonwagesandprices.

d.high,sotherewasdownwardpressureonwagesandprices.

ANS:

APTS:

1DIF:

2REF:

35-1

TOP:

PhillipscurveMSC:

Analytical

25.SamuelsonandSolowreasonedthatwhenaggregatedemandwaslow,unemploymentwas

a.high,sotherewasupwardpressureonwagesandprices.

b.high,sotherewasdownwardpressureonwagesandprices.

c.low,sotherewasupwardpressureonwagesandprices.

d.low,sotherewasdownwardpressureonwagesandprices.

ANS:

BPTS:

1DIF:

2REF:

35-1

TOP:

PhillipscurveMSC:

Analytical

26.Supposethatacentralbankincreasesthemoneysupply.AccordingtothelogicofthePhillipscurvethisshouldmake

a.prices,output,andemploymentrise.

b.pricesandoutputrise,employmentfall.

c.pricesriseandoutputandemploymentfall.

d.pricesfall,output,andemploymentrise.

ANS:

APTS:

1DIF:

1REF:

35-1

TOP:

PhillipscurveMSC:

Analytical

27.Supposethatthemoneysupplyincreases.Intheshortrunthisincreasesemploymentaccordingto

a.boththeshort-runPhillipscurveandtheaggregatedemandandaggregatesupplymodel.

b.neithertheshort-runPhillipscurvenortheaggregatedemandandaggregatesupplymodel.

c.theshort-runPhillipscurve,butnottheaggregatedemandandsupplymodel.

d.theaggregatedemandandaggregatesupplymodel,butnottheshort-runPhillipscurve.

ANS:

APTS:

1DIF:

2REF:

35-1

TOP:

Short-runPhillipscurve|AggregatedemandandsupplyMSC:

Interpretive

28.Supposethatthemoneysupplyincreases.Intheshortrun,thisincreasespricesaccordingto

a.boththeshort-runPhillipscurveandtheaggregatedemandandaggregatesupplymodel.

b.neithertheshort-runPhillipscurvenortheaggregatedemandandaggregatesupplymodel.

c.theshort-runPhillipscurve,butnottheaggregatedemandandaggregatesupplymodel.

d.theaggregatedemandandaggregatesupplymodelbutnottheshort-runPhillipscurve.

ANS:

APTS:

1DIF:

2REF:

35-1

TOP:

P