国际经济学题库Word文件下载.docx

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D）

nationaloutput.

E）

Noneoftheabove.

Answer:

B

QuestionStatus:

PreviousEdition

2）

Moneyservesas

amediumofexchange.

aunitofaccount.

astoreofvalue.

Alloftheabove.

OnlyAandB.

D

3）

Moneyincludes

currency.

checkingdepositsheldbyhouseholdsandfirms.

depositsintheforeignexchangemarkets.

BothAandB.

A,B,andC.

4）

IntheUnitedStatesattheendof2006,thetotalmoneysupply,M1,amountedtoapproximately

10percentofthatyear'

sGNP.

20percentofthatyear'

30percentofthatyear'

40percentofthatyear'

50percentofthatyear'

A

5）

Whatarethemainfunctionsofmoney?

Moneyservesingeneralthreeimportantfunctions:

amediumofexchange;

aunitofaccount;

andastoreofvalue.Asamediumofexchange,moneyavoidsgoingbacktoabartereconomy,withtheenormoussearchcostsconnectedwithit.Asaunitofaccount,theuseofmoneyeconomizesonthenumberofpricesanindividualfaces.ConsideraneconomywithNgoods,thenoneneedsonly（N-1）prices.Asastoreofvalue,theuseofmoneyingeneralensuresthatyoucantransferwealthbetweenperiods.

PreviousEdition

14.2

TheDemandforMoneybyIndividuals

Individualsbasetheirdemandforanasseton

theexpectedreturntheassetofferscomparedwiththereturnsofferedbyotherassets.

theriskinessoftheasset'

sexpectedreturn.

theasset'

sliquidity.

ThefamilysummerhouseonCapeCodepaysareturnintheformof

interestrate.

capitalgains.

thepleasureofvacationsatthebeach.

BandConly.

E

Inaworldwithmoneyandbondsonly,

itisnotriskytoholdmoney.

itisriskytoholdmoney.

riskisanimportantfactorinthedemandformoney.

thereisnorelationshipbetweenriskandholdingmoney.

Whichoneofthefollowingstatementsisthemostaccurate?

Ariseintheaveragevalueoftransactionscarriedoutbyahouseholdorafirmcausesitsdemandformoneytofall.

Areductionintheaveragevalueoftransactionscarriedoutbyahouseholdorafirmcausesitsdemandformoneytorise.

Ariseintheaveragevalueoftransactionscarriedoutbyahouseholdorafirmcausesitsdemandformoneytorise.

Ariseintheaveragevalueoftransactionscarriedoutbyahouseholdorafirmcausesitsdemandforrealmoneytorise.

Anindividual'

sneedforliquiditywouldbeupif:

theaveragevalueoftransactionscarriedoutbytheindividualfell.

theaveragevalueoftransactionscarriedoutbytheindividualrose.

theindividualgotaraise.

theindividualreceivedanewATMcard.

6）

Whatarethefactorsthatdeterminetheamountofmoneyanindividualdesirestohold?

Threemainfactors:

first,theexpectedreturntheassetofferscomparedwiththereturnsofferedbyotherassets;

second,theriskinessoftheasset'

sexpectedreturn;

andthird,theasset'

14.3

AggregateMoneyDemand

Theaggregatemoneydemanddependson

theinterestrate.

thepricelevel.

realnationalincome.

OnlyAandC.

Ifthereisinitially

excessdemandformoney,theinterestratefalls,andifthereisinitiallyanexcesssupply,itrises.

excesssupplyofmoney,theinterestratefalls,andifthereisinitiallyanexcessdemand,itrises.

excesssupplyofmoney,theinterestrateincreases,andifthereisinitiallyanexcessdemand,itfalls.

excesssupplyofmoney,theinterestratefalls,andifthereisinitiallyanexcessdemand,itfurtherfalls.

Adecreaseinthemoneysupplylowerstheinterestratewhileanincreaseinthemoneysupplyraisestheinterestrate,giventhepricelevelandoutput.

Anincreaseinthemoneysupplylowerstheinterestratewhileafallinthemoneysupplyraisestheinterestrate,giventhepricelevel.

Anincreaseinthemoneysupplylowerstheinterestratewhileafallinthemoneysupplyraisestheinterestrate,giventheoutputlevel.

Anincreaseinthemoneysupplylowerstheinterestratewhileafallinthemoneysupplyraisestheinterestrate,giventhepricelevelandoutput.

Anincreasein

nominaloutputraisestheinterestratewhileafallinrealoutputlowerstheinterestrate,giventhepricelevelandthemoneysupply.

realoutputdecreasestheinterestratewhileafallinrealoutputincreasestheinterestrate,giventhepricelevel.

realoutputraisestheinterestratewhileafallinrealoutputlowerstheinterestrate,giventhemoneysupply.

nominaloutputraisestheinterestratewhileafallinrealoutputlowerstheinterestrate,giventhepricelevel.

realoutputraisestheinterestratewhileafallinrealoutputlowerstheinterestrate,giventhepricelevelandthemoneysupply.

Theaggregatedemandformoneycanbeexpressedby:

Md=P×

L（R,Y）.

Md=L×

P（R,Y）.

Y（R,L）.

Md=R×

L（P,Y）.

L（R,P）.

Whatarethemainfactorsdeterminingtheaggregatemoneydemand?

interestrate,thepricelevelandrealnationalincome.Ariseintheinterestratecauseseachindividualintheeconomytoreduceherdemandformoney.Ifthepricelevelrises,individualhouseholdsandfirmswillspendmoremoneythanbefore.Whenrealnationalincome（GNP）risesthedemandformoneywillrise.

7）

Explainwhyonecanwritethedemandformoneyasfollows:

Md=PxL（R,Y）

Theaggregatemoneydemandisproportionaltothepricelevel.Imaginethatallpricesinaneconomydoubled,buttheinterestrateandeveryone'

srealincomesremainedunchanged.Then,themoneyvalueofeachindividual'

saveragedailytransactionswouldthensimplydouble,aswouldtheamountofmoneyeachwishestohold.

14.4

TheEquilibriumInterestRate:

TheInteractionofMoneySupplyandDemand

TheaggregaterealmoneydemandscheduleL（R,Y）

slopesupwardbecauseafallintheinterestrateraisesthedesiredrealmoneyholdingsofeachhouseholdandfirmintheeconomy.

slopesdownwardbecauseafallintheinterestratereducesthedesiredrealmoneyholdingsofeachhouseholdandfirmintheeconomy.

hasazeroslopebecauseafallintheinterestratekeepsconstantthedesiredrealmoneyholdingsofeachhouseholdandfirmintheeconomy.

slopesdownwardbecauseafallintheinterestrateraisesthedesiredrealmoneyholdingsofeachhouseholdandfirmintheeconomy.

Foragivenlevelof

nominalGNP,changesininterestratescausemovementsalongtheL（R,Y）schedule.

realGNP,changesininterestratescauseadecreaseoftheL（R,Y）schedule.

realGNP,changesininterestratescauseanincreaseoftheL（R,Y）schedule.

nominalGNP,changesininterestratescauseanincreaseintheL（R,Y）schedule.

realGNP,changesininterestratescausemovementsalongtheL（R,Y）schedule.

Themoneysupplyscheduleis

horizontalbecauseMSissetbythecentralbankwhilePistakenasgiven.

horizontalbecauseMSissetbythecentralbank.

verticalbecauseMSissetbythehouseholdsandfirmswhilePistakenasgiven.

verticalbecauseMSandParesetbythecentralbank.

verticalbecauseMSissetbythecentralbankwhilePistakenasgiven.

Ifindividualsareholdingmoremoneythantheydesire,

theywillattempttoreducetheirliquiditybyusingmoneytopurchasegoods.

theywillattempttoreducetheirliquiditybyusingmoneytopurchaseinterest-bearingassets.

theywillattempttoreducetheirliquiditybyconvertingrealmoneyholdingsintonominalmoneyholdings.

theywillkeeptheirholdingsconstant.

New

Ifthereisanexcesssupplyofmoney:

thei