经济学原理对应练习34Word文档格式.doc

经济学原理对应练习34Word文档格式.doc

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Analytical

2. Whichofthefollowingisnotareasontheaggregatedemandcurveslopesdownward?

Asthepricelevelincreases

a. firmsmaybelievetherelativepriceoftheiroutputhasrisen.

b. realwealthdeclines.

c. theinterestrateincreases.

d. theexchangerateincreases.

A PTS:

Aggregatedemandslope MSC:

Definitional

3. FortheU.S.economy,whichofthefollowingisthemostimportantreasonforthedownwardslopeoftheaggregate-demandcurve?

a. thewealtheffect

b. theinterest-rateeffect

c. theexchange-rateeffect

d. thereal-wageeffect

B PTS:

Interest-rateeffect MSC:

4. WhichofthefollowingislikelymoreimportantforexplainingtheslopeoftheaggregatedemandcurveofasmalleconomythanitisfortheUnitedStates?

Exchange-rateeffect MSC:

Interpretive

5. Whichofthefollowingisnotaresponsethatwouldresultfromadecreaseinthepricelevelandsohelptoexplaintheslopeoftheaggregatedemandcurve?

a. Wheninterestratesfall,SleepwellHotelsdecidestobuildsomenewhotels.

b. Theexchangeratefalls,soFrenchrestaurantsinParisbuymoreIowapork.

c. Janetfeelswealthierbecauseofthepricedropandsoshedecidestoremodelherbathroom.

d. Withpricesdownandwagesfixedbycontract,Millio’sFrozenPizzasdecidestolayoffworkers.

D PTS:

6. Thewealtheffecthelpsexplaintheslopeoftheaggregatedemandcurve.Thiseffectis

a. relativelyimportantintheUnitedStatesbecauseexpendituresonconsumerdurablesisveryresponsivetochangesinwealth.

b. relativelyimportantintheUnitedStatesbecauseconsumptionspendingisalargepartofGDP.

c. relativelyunimportantintheUnitedStatesbecausemoneyholdingsareasmallpartofconsumerwealth.

d. relativelyunimportantbecauseittakesalargechangeinwealthtomakeasignificantchangeininterestrates.

Wealtheffect MSC:

7. WhichofthefollowingclaimsconcerningtheimportanceofeffectsthatexplaintheslopeoftheU.S.aggregatedemandcurveiscorrect?

a. Theexchange-rateeffectisrelativelysmallbecauseexportsandimportsareasmallpartofrealGDP.

b. Theinterest-rateeffectisrelativelysmallbecauseinvestmentspendingisnotveryresponsivetointerestratechanges.

c. Thewealtheffectisrelativelylargebecausemoneyholdingsareasignificantportionofmosthouseholds'

wealth.

d. Noneoftheaboveiscorrect.

8. LiquiditypreferencerefersdirectlytoKeynes'

theoryconcerning

a. theeffectsofchangesinmoneydemandandsupplyoninterestrates.

b. theeffectsofchangesinmoneydemandandsupplyonexchangerates.

c. theeffectsofwealthonexpenditures.

d. thedifferencebetweentemporaryandpermanentchangesinincome.

Liquiditypreference MSC:

9. Accordingtoliquiditypreferencetheory,equilibriuminthemoneymarketisachievedbyadjustmentsin

a. thepricelevel.

b. theinterestrate.

c. theexchangerate.

d. realwealth.

Moneymarketequilibrium MSC:

10. Liquiditypreferencetheoryismostrelevanttothe

a. shortrunandsupposesthatthepriceleveladjuststobringmoneysupplyandmoneydemandintobalance.

b. shortrunandsupposesthattheinterestrateadjuststobringmoneysupplyandmoneydemandintobalance.

c. longrunandsupposesthatthepriceleveladjuststobringmoneysupplyandmoneydemandintobalance.

d. longrunandsupposesthattheinterestrateadjuststobringmoneysupplyandmoneydemandintobalance.

2 REF:

11. Ifexpectedinflationisconstant,thenwhenthenominalinterestrateincreases,therealinterestrate

a. increasesbymorethanthechangeinthenominalinterestrate.

b. increasesbythechangeinthenominalinterestrate.

c. decreasesbythechangeinthenominalinterestrate.

d. decreasesbymorethanthechangeinthenominalinterestrate.

Nominalandrealinterestrates MSC:

12. Ifexpectedinflationisconstant,thenwhenthenominalinterestratefalls,therealinterestrate

a. fallsbymorethanthechangeinthenominalinterestrate.

b. fallsbythechangeinthenominalinterestrate.

c. risesbythechangeinthenominalinterestrate.

d. risesbymorethanthechangeinthenominalinterestrate.

13. Ifexpectedinflationisconstantandthenominalinterestrateincreased3percentagepoints,therealinterestratewould

a. increase3percentagepoints.

b. increase,butbylessthan3percentagepoints.

c. decrease,butbylessthan3percentagepoints.

d. decreaseby3percentagepoints.

14. Thetheoryofliquiditypreferenceassumesthatthenominalsupplyofmoneyisdeterminedbythe

a. levelofrealGDP.

b. rateofinflation.

c. interestrate.

d. theFederalReserve.

Moneysupply MSC:

15. Accordingtothetheoryofliquiditypreference,themoneysupply

a. andmoneydemandarepositivelyrelatedtotheinterestrate.

b. andmoneydemandarenegativelyrelatedtotheinterestrate.

c. isnegativelyrelatedtotheinterestratewhilemoneydemandispositivelyrelatedtotheinterestrate.

d. isindependentoftheinterestrate,whilemoneydemandisnegativelyrelatedtotheinterestrate.

Moneysupplyanddemand MSC:

16. Accordingtoliquiditypreferencetheory,themoneysupplycurveis

a. upwardsloping.

b. downwardsloping.

c. vertical.

d. horizontal.

17. Accordingtoliquiditypreferencetheory,themoneysupplycurvewouldshiftright

a. ifthemoneydemandcurveshiftedright.

b. iftheFederalReservechosetoincreasemoneysupply.

c. iftheinterestrateincreased.

d. Alloftheabovearecorrect.

Moneysupplyshifts MSC:

Applicative

18. Accordingtoliquiditypreferencetheory,themoneysupplycurvewouldshiftiftheFed

a. engagedinopen-markettransactions.

b. changedthediscountrate.

c. changedthereserverequirement.

d. didanyoftheabove.

19. WhichofthefollowingFedactionswouldbothincreasethemoneysupply?

a. buybondsandraisethereserverequirement

b. buybondsandlowerthereserverequirement

c. sellbondsandraisethereserverequirement

d. sellbondsandlowerthereserverequirement

20. WhentheFedbuysgovernmentbonds,thereservesofthebankingsystem

a. increase,sothemoneysupplyincreases.

b. increase,sothemoneysupplydecreases.

c. decrease,sothemoneysupplyincreases.

d. decrease,sothemoneysupplydecreases.

Open-marketpurchases MSC:

21. WhentheFedsellsgovernmentbonds,thereservesofthebankingsystem

Open-marketsales MSC:

22. Liquidityrefersto

a. therelationbetweenthepriceandinterestrateofanasset.

b. theriskofanassetrelativetoitssellingprice.

c. theeasewithwhichanassetisconvertedintoamediumofexchange.

d. thesensitivityofinvestmentspendingtochangesintheinterestrate.

Liquidity MSC:

23. Whichofthefollowingisthemostliquidasset?

a. capitalgoods

b. stocksandbondswithalowrisk

c. stocksandbondswithahighrisk

d. fundsinacheckingaccount

24. Whichofthefollowingisthemostliquidasset?

a. corporatebonds.

b. fineart.

c. depositsthatcanbewithdrawnusingATMs.

d. mutualfunds.

25. Peopleownorholdmoneyprimarilybecauseit

a. hasaguaranteednominalreturn.

b. servesasastoreofvalue.

c. candirectlybeusedtobuygoodsandservices.

d. functionsasaunitofaccount.

Moneydemand MSC:

26. Accordingtoliquiditypreferencetheory,theopportunitycostofholdingmoneyis

a. theinterestrateonbonds.

b. theinflationrate.

c. thecostofconvertingbondstoamediumofexchange.

d. thedifferencebetweentheinflationrateandtheinterestrateonbonds.

Moneydemandslope MSC:

27. Whentheinterestrateincreases,theopportunitycostofholdingmoney

a. increases,sothequantityofmoneydemandedincreases.

b. inc