11宏观经济学曼昆第6版配套习题Word文件下载.docx

11宏观经济学曼昆第6版配套习题Word文件下载.docx

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MDIFFICULTY:

1SECTION:

23.1

2.Inthefallof2002,consumersindicatedthattheywerelessoptimisticaboutthefutureoftheeconomy.Thischangeinsentimentwouldlikely

a.shiftaggregatedemandleft

b.decreaseoutput

c.increaseunemployment

d.Alloftheabovearecorrect.

3.“Leaningagainstthewind”isexemplifiedbya（n）

a.taxcutwhenthereisanexpansion.

b.decreaseinthemoneysupplywhenthereisarecession.

c.increaseingovernmentexpenditureswhenthereisarecession.

4.Iffirmswerefacedwithgreateruncertaintybecauseofconcernthatoilpricesmightrise,theymightdecreaseexpendituresoncapital.Inresponsetothischange,someonewhoadvocated“leanagainstthewind”policiesmightadvocatedecreasing

a.themoneysupply.

b.taxes.

c.governmentexpenditures.

d.Noneoftheaboveiscorrect.

2SECTION:

5.Thosewhodesirethatpolicymakersstabilizetheeconomywouldadvocatewhichofthefollowingwhenaggregatedemandisinsufficienttoensurefullemployment?

a.decreasethemoneysupply

b.decreasetaxes

c.decreasegovernmentexpenditures

6.Supposeaggregatedemandfell.Inordertostabilizetheeconomy,thegovernmentmight

a.increasethemoneysupply.

b.increasegovernmentexpenditures.

c.decreasetaxes.

7.Whichofthefollowingarebothpoliciesthatareconsistentwithtryingtostabilizeoutputwhenpricesandoutputrise?

a.decreasethemoneysupplyanddecreasetaxes

b.increasethemoneysupplyanddecreasetaxes

c.decreasethemoneysupplyanddecreasegovernmentexpenditures

d.increasethemoneysupplyanddecreasegovernmentexpenditures

8.Ingeneral,thelongestlagfor

a.bothfiscalandmonetarypolicyisthetimeittakestochangepolicy.

b.bothfiscalandmonetarypolicyisthetimeittakesforpolicytoaffectaggregatedemand.

c.monetarypolicyisthetimeittakestochangepolicy,whileforfiscalpolicythelongestlagisthetimeittakesforpolicytoaffectaggregatedemand.

d.fiscalpolicyisthetimeittakestochangepolicy,whileformonetarypolicythelongestlagisthetimeittakesforpolicytoaffectaggregatedemand.

9.Theprincipalreasonthatmonetarypolicyhaslagsisthatittakesalongtimefor

a.changesintheinterestratetochangeaggregatedemand.

b.changesinthemoneysupplytochangeinterestrates.

c.theFedtomakechangesinpolicy.

10.Opponentsofusingpolicytostabilizetheeconomygenerallybelievethat

a.neitherfiscalnormonetarypolicyhavemuchimpactonaggregatedemand.

b.attemptstostabilizetheeconomycanincreasethemagnitudeofeconomicfluctuations.

c.unemploymentandinflationarenotcauseformuchconcern.

11.Theeffectsofadeclineinthevalueoffinancialassets,suchasstocks,onconsumptionandtheeconomymightbeoffsetby

a.increasingthegovernmentspending.

b.decreasingthemoneysupply.

c.increasingtaxes.

12.Theeconomygoesintorecession.Whichofthefollowinglistscontainsthingspolicymakerscoulddototrytoendtherecession?

a.increasethemoneysupply,increasetaxes,increasegovernmentspending

b.increasethemoneysupply,increasetaxes,decreasegovernmentspending

c.increasethemoneysupply,decreasetaxes,increasegovernmentspending

d.decreasethemoneysupply,increasetaxes,decreasegovernmentspending

13.TheFedraisedinterestratesin1999and2000.Thisimplies,otherthingsthesame,thattheFed

a.increasedthemoneysupplybecausetheywereconcernedaboutunemployment

b.increasedthemoneysupplybecausetheywereconcernedaboutinflation

c.decreasedthemoneysupplybecausetheywereconcernedaboutunemployment

d.decreasedthemoneysupplybecausetheywereconcernedaboutinflation.

14.Whichofthefollowingisnotanargumentinfavorofpolicymakerstryingtostabilizetheeconomy?

a.Recessionsrepresentawasteofresources.

b.Pessimismonthepartofhouseholdsandfirmsmaybecomeaself-fulfillingprophecy.

c.“Leaningagainstthewind”requirespolicymakerstoincreaseaggregatedemandinrecessionsandreduceaggregatedemandinbooms.

d.Macroeconomictheoryisnotdevelopedsufficientlytoshowpolicymakershowtochangeaggregatedemand.

15.Whichofthefollowingisnotanargumentagainstpolicymakerstryingtostabilizetheeconomy?

a.Economicforecastingishighlyimprecise.

b.Longlagsmaycausestabilizationpoliciestoinfactdestabilizetheeconomy.

c.Monetarypolicyaffectsaggregatedemandbychanginginterestrates.

d.Fiscalpolicymustgothroughalongpoliticalprocess.

16.TheFederalOpenMarketCommittee

a.operateswithalmostcompletediscretionovermonetarypolicy.

b.isrequiredtoincreasethemoneysupplybyagivengrowthrateeachyear.

c.isrequiredtokeeptheinterestratewithinarangesetbyCongress.

d.isrequiredbyitschartertochangethemoneysupplyusingacomplexformulathatconcernsthetradeoffbetweeninflationandunemployment.

23.2

17.Thepoliticalbusinesscyclerefersto

a.thefactthatabouteveryfouryearssomepoliticianadvocatesgreatergovernmentcontroloftheFed.

b.thepotentialforacentralbanktoincreasethemoneysupplyandsooutputtohelptheincumbentgetre-elected.

c.thepartofthebusinesscyclecausedbythereluctanceofpoliticianstosmooththebusinesscycle

d.changesinoutputcreatedbythemonetaryruletheFedmustfollow.

18.Thetimeinconsistencyofpolicyimpliesthat

a.whatpolicymakerssaytheywilldoisgenerallywhattheywilldo,butpeopledon’tbelievethembecauseofcurrentpolicy.

b.whenpeopleexpectthatinflationwillbelow,itisharderfortheFedtoincreaseoutputbyincreasingthemoneysupply.

c.peoplewillbelieveFedpolicywillbemoreinflationarythantheFedclaims.

19.Thetimeinconsistencyofmonetarypolicymeansthat

a.oncepeoplehaveformedexpectationsoflowinflationbasedonapromisebythecentralbank,thecentralbankistemptedtoraiseinflationtolowerunemployment.

b.atsometimescentralbanksthinkitismoreimportanttokeepunemploymentlow;

atothertimes,theythinkitismoreimportanttokeepinflationlow.

c.monetarypolicyisnotconsistentacrosstimebecauseitisinfluencedbypolitics.

d.monetarypolicyisnotconsistentacrosstimebecausepolicymakersareincompetent.

20.Timeinconsistencywillcausethe

a.short-runPhillipscurvetobehigherthanotherwise.

b.short-runPhillipscurvetobelowertheotherwise.

c.long-runPhillipscurvetobefarthertotherightthanotherwise.

d.long-runPhillipscurvetobefartherleftthanotherwise.

a.theshort-runPhillipscurvetobehigherthanotherwise.

21.Ifpeopleincountriesthathavehadpersistentlyhighinflationareskepticalabouteffortstoreduceinflation,theshort-runPhillipscurvewillremainfartothe

a.left,andthesacrificeratiowillbelow.

b.left,andthesacrificeratiowillbehigh.

c.right,andthesacrificeratiowillbelow.

d.right,and