112章练习.docx

112章练习.docx

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112章练习

QUIZ1-7

C1:

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C2:

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C3:

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C4:

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C6:

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C7:

DBCCDDACBADBDCBABADCC19:

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C2

1、Assumethegovernmentchangedwelfaretoworkfare,thatis,everyonereceivinggovernmenttransferpaymentsnowhadtoworkforthegovernmentandthereforereceivedasalary.HowwouldGDPbeaffected?

A）GDPwouldincreaseB）GDPwoulddecrease

C）thechangeinGDPwoulddependonwhetherthesalaryisgreaterorlessthanthetransfer

D）GDPwouldnotchangeifthepaymentisthesameinbothcases

2、WhatisthedifferencebetweenGDPandGNP?

A）GNPdoesnotaccountfordepreciation（capitalconsumptionallowances）

B）GNPincludespaymentstodomesticallyownedfactorsofproductionabroad

C）GNPincludesindirecttaxesbutGDPdoesnot

D）GNPdoesnotincludegovernmenttransferpaymentsbutGDPdoes

3、Whichofthefollowingtransactionshasnodirecteffectonthisyear'sGDP?

A）yousellyourholdingsofMicrosoftstocks

B）anunemployedworkergetshisunemploymentbenefits

C）youbuyatwoyearoldcarfromyourneighbor

D）noneoftheabovedirectlyaffectsGDP

4、AssumeaGermantouristbuysaMexicanbeerinapubinHouston.HowwilltheU.S.GDPbeaffected?

A）U.S.GDPwillbeunaffected,sinceaforeignerbuysaforeignproduct.

B）U.S.GDPwilldecreasesincethebeerhastobeimportedfromMexico

C）U.S.GDPwillincreasebythevalueaddedattheHoustonpub

D）U.S.GDPwillincrease,butonlybythesalestaxassessedonthebeer

5、WhichofthefollowingisNOTincludedinprivatedomesticinvestment（I）asdefinedinourtext?

A）theconstructionofanewresidentialhome

B）theincreaseinthenumberofnewcarsintheinventoryofacardealer

C）thebuyingofnewequipmentforanexistingfactory

D）thebuyingofIBMstocksbyfinancialinvestors

6、RealGDPpercapitaisdefinedas

A）nominalGDPpercapitaminusdepreciation

B）realGDPminuscapitalconsumptionallowances

C）realGDPdividedbythepopulation

D）thefractionofrealGDPdevotedtocapitalinvestment

7、Overthelastthreedecades,theU.S.federaldebtasapercentageofGNP

A）neverhasbeenlessthan50percentB）hasdecreasedsteadily

C）hasincreasedsteadily

D）wasatitslowestinthe1970sbutincreasedsharplyinthe1980s

8、IfGDPis$10,400,NDPis$9,100,andgrossprivatedomesticinvestmentis$1,600（allnumbersareinbillionsofdollars）,thenwecanconcludethat

A）netprivatedomesticinvestmentis$300

B）theGDP-deflatorisroughly114

C）theadditiontothecapitalstockis$1,600billion

D）alloftheabove

9、Depreciationis

A）thedifferencebetweenprivatedomesticsavingandprivatedomesticinvestment

B）thedifferencebetweenrealandnominalGDP

C）thedifferencebetweenGNPandGDP

D）anotherwordforcapitalconsumptionallowances

10、WhichofthefollowingnationalincomeaccountingidentitiesisWRONG?

A）S-I≡（G+TR-TA）+NXB）YD≡Y-TA-TR

C）BS≡TA-TR-GD）I+G+NX≡S+TA-TR

11、AssumethatGDP=9,400,consumption=6,500,governmentpurchases=1,600,privatedomesticsaving=1,100,andnetexports=-200.Whichofthefollowingistrue?

A）grossprivatedomesticinvestment=1,500B）disposableincome=7,600

C）thebudgetsurplus=200D）alloftheabove

12、IfnationalincomeisY=9,300,disposableincomeisYD=7,500,consumptionisC=6,600,netexportsisNX=-180,andthebudgetsurplusisBS=230,whatisthelevelofprivatedomesticinvestment（I）?

A）850B）900C）950D）1,310

13、IfnationalincomeisY=10,400,disposableincomeisYD=8,800,consumptionisC=7,700,netexportsisNX=-220,andthebudgetdeficitisBD=150（allareinbillionsofdollars）,whatisthelevelofprivatedomesticinvestment（I）?

A）$1,170B）$1,100C）$1,030D）$960

14、Ifthegovernmentsucceedsinturningabudgetdeficitintoabudgetsurplus,whichofthefollowingcanhappen?

A）privatedomesticsavingcandecrease

B）privatedomesticinvestmentcanincrease

C）netexportscanincrease

D）alloftheabove

15、IfnominalGDPis$10,406billionandtheGDP-deflatoris110,thenrealGDPisabout

A）$11,450billionB）$10,516billion

C）$10,296billionD）$9,460billion

16、TheGDP-deflatorandtheCPIdifferfromeachothersince

A）theGDP-deflatordoesnotincludeservicesbuttheCPIdoes

B）theGDP-deflatorincludesimportedgoodsbuttheCPIdoesn't

C）theCPImeasuresafixedmarketbasketbuttheGDP-deflatordoesn't

D）theCPIincludesmoregoodsthantheGDP-deflatordoes

17、WhichofthefollowingisNOTtrue?

A）theGDP-deflatorisalaggingindicator

B）thePPImeasuresthecostofagivenmarketbasketofgoods

C）biasesintheCPIcanaffecttheSocialSecuritysystem

D）theCPIdoesnotincludeimportedgoods

18、Theunemploymentrateisdefinedas

A）thenumberofpeopleoutofworkbutactivelylookingforworkdividedbythetotalpopulation

B）thefractionofthelaborforcewhoareoutofworkandlookingforworkorexpectingarecallfromalayoff

C）thenumberofpeopleoutofworkbutactivelylookingplusthenumberofdiscouragedworkersdividedbythetotalworkforce

D）thefractionofthelaborforcewhoareunemployedminusthosewhoarejustwaitingtoberecalledfromatemporarylayoff

19、Assumeyoudesirearealrateofreturnof4%onaninvestmentandyouexpecttheannualaverageinflationratetobe3.2%.Whatshouldthenominalinterestratebeonthisinvestment?

A）0.8%B）3.0%C）4.0%D）7.2%

20、AssumetheBritishpoundisworth$1.56inU.S.dollarsandtheHongKongdollarisworth$0.13inU.S.dollars.Whatdoesthisimply?

A）everythinginHongKongis12timescheaperthaninGreatBritain

B）everythinginHongKongis12timesmoreexpensivethaninGreatBritain

C）youcanget12HongKongdollarsforoneBritishpound

D）noneoftheabove

C3

1、Whichofthefollowingisasourceofeconomicgrowth?

A）growthinthestockofknowledge

B）growthincapitalinputs

C）improvedtechnologicalefficiency

D）alloftheabove

2、Laborproductivity

A）isalsocalledthemarginalproductoflabor

B）isdefinedasY/N

C）declinesasmorecapitalisaddedtotheproductionprocess

D）isthesameastotalfactorproductivity

3、IfwehaveaCobb-Douglasaggregateproductionfunction,theterm"constantreturnstoscale"referstothefactthat

A）theshareofcapitalinproductionisalwaysequaltotheshareoflaborinproduction

B）themarginalproductofcapitalisalwaysequaltothemarginalproductoflabor

C）theshareofcapitalinproductionandtheshareoflaborinproductionadduptoone

D）totalfactorproductivityisequaltoone

4、TheSolowresidualmeasureschangesin

A）totalfactorproductivity

B）laborproductivity

C）themarginalproductofcapital

D）thecostofproduction

5、IfweassumeaCobb-Douglasproductionfunctionwheretheshareofcapitalisequalto0.2andtheshareoflaborisequalto0.8,thenthemarginalproductoflaborisequalto

A）Y/NB）5Y/4NC）4Y/5ND）Y/4N

6、IfweassumeaCobb-Douglasproductionfunctionwheretheshareoflaboris3/4andtheshareofcapitalis1/4,thenthemarginalproductofcapitalcanbecalculatedas

A）3Y/4KB）Y/4KC）4Y/KD）Y/K

7、AssumeaCobb-Douglasproductionfunctionwheretheshareofcapital1/4andtheshareoflaboriseach3/4.Ifthegrowthintotalfactorproductivityiszeroandlaborandcapitaleachgrowby1%,then

A）outputgrowthis1%andthemarginalproductofcapitalisY/4K

B）outputgrowthis1%andthemarginalproductofcapitalisY/K

C）outputgrowthis1%andthemarginalproductoflaborisY/4N

D）outputgrowthis2%andthemarginalproductoflaboris3Y/4N

8、AssumeaCobb-Douglasproductionfunction,wheretheshareofcapitalis0.3andtheshareoflaboris0.7.Ifcapitalgrowsby3%,laborgrowsby2%,andgrowthoftotalfactorproductivityis1%,byhowmuchdoestotaloutputgrow?

A）2.3%B）3.3%C）3.7%D）6.0%

9、Assumeaproductionfunctionwithconstantreturnstoscale.Theshareofcapitalinproductionis1/4andtheshareoflaboris3/4.Ifbothlaborandcapitalgrowat1.6%andrealoutputgrowsatarateof2.8%,whatisthegrowthrateoftotalfactorproductivity?

A）2.8%B）1.6%C）1.2%D）1.0%

10、AssumeaCobb-Douglasaggregateproductionfunctioninwhichlabor'sshareofincomeis0.7andcapital'sshareofincomeis0.3.Atwhatratewillrealoutputgrowiflaborgrowsat2.0%,thecapitalstockgrowsat1.0%,andtotalfactorproductivityincreasesby1.8%?

A）4.8%B）3.5%C）3.0%D）1.8%

11、Intheneoclassicalgrowthmodel,adecreaseinthesavingsrate

A）raisesthegrowthrateofoutputpercapita

B）lowersthegrowthrateofoutputpercapita

C）raisesthesteady-statecapital-laborratio

D）lowersthesteady-statecapital-laborratio

12、Intheneoclassicalgrowthmodel,anincreaseinthesavingsratewill

A）increasethelong-rungrowthinincomepercapita

B）decreasethelong-runcapital-laborratio

C）increasethegrowthrateofoutputtemporarilybutnotaffectitslong-runtrend

D）decreasethegrowthrateofoutput,butonlytemporarily

13、Intheneoclassicalgr