201420151经济学2期中考试yym带答案.doc

电子科技大学二零 一四 至二零 一五 学年第 一 学期期 中 考试

经济学II 课程考试题 A 卷（ 90 分钟） 考试形式：闭卷 考试日期：2014年 11月 3 日

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合计
复核人签名
得分

签名

得 分
一、判断题（正确的打“√”，错误的打“×”，每小题2分，共20分）
（ √ ）1．Macroeconomics examines the behavior of economic aggregates. Microeconomics is the foundation of Macroeconomics.
（√ ）2． If the Fed buys government bonds, the equilibrium value of money decreases and the equilibrium price level increases.
（ √ ）3．The slope of the saving curve is positive and increasing in income Y.
（ ×）4．GDP can measure either the total income of everyone in the economy or the total expenditure on the economy’s output of goods and services, but GDP cannot measure both at the same time.
（√ ）5．The basic tools of supply and demand are as central to macroeconomic analysis as they are to microeconomic analysis.
（ × ）6．The Federal Reserve is a privately operated commercial bank.
（√ ）7．An economy’s income is the same as its expenditure because every transaction has a buyer and a seller.
（× ）8．The consumer price index is used to monitor changes in an economy’s production of goods and services over time.
（ × ）9．When economists refer to investment, they mean the purchasing of stocks and bonds and other types of saving.
（√ ）10．Banks cannot influence the money supply if they hold all deposits in reserve.
得 分
二、单项选择题（每小题2分，共40分）

（ D ）1．Dead-weight costs of inflation include:
A．Informational costs B．Menu costs C．Shoe-leather costs D．All above
（ A ）2．Unemployment rate is
A．percentage of the labor force that is unemployed
B．the fraction of the adult population that ‘participates’ in the labor force
C．percentage of labor force that is not employed and not looking for work
D．None of the above
（ A ）3．If the spontaneous consumption decreases, the IS curve will
A．shift to left B．shift to right C．be unchanged D．move down
（ D ）4．Institutions that help to match one person's saving with another person's investment are collectively called the
A.Federal Reserve system.
B.banking system.
C. monetary system.
D. financial system.
（ D ）5．Suppose that in 2010, the producer price index increases by 2 percent. As a result, economists most likely will predict that
A. GDP will increase in 2011.
B. the producer price index will increase by more than 2 percent in 2011.
C. interest rates will decrease in the future.
D.the consumer price index will increase in the future
（ D ）6．Economists use the term money to refer to
A. all wealth.
B. all assets, including real assets and financial assets.
C. all financial assets, but real assets are not regarded as money.
D. those types of wealth that are regularly accepted by sellers in exchange for goods and services.
（ B ）7．Which one is commodity money below?
A．Token B．Silver C．Fiat D．Legal tender
（ A ）10．China’s saving rate in 2008 is about
A．51.3% B．60% C．5% D．71.3%
（ B ）8．Which of the following changes will decrease investment?
A．A doubling of the annual revenues. B．A rise in interest rates.
C．An increase in tax rate on net profits D．All above
（ D ）9．Money is not income, and money is not wealth. Money is:
A．a means of payment B．a store of value
C．a unit of account D．All of above.
（ A ）10．M1, or transactions money is money that can be directly used for transactions. It includes:
A．currency held outside banks B．all personal deposits
C．non-checkable deposits D．All above.
（ A ）11．The central bank performs important functions, but not including:
A．Set the tax rate
B．Clearing interbank payments
C．Regulating the banking system
D．All of above
（ B ）12．The IS model shows the relationship between
A．Y & P B．Y & r C．P & r D．I & S
（ D ）13．Consider the following three items of spending by the government: (1) the federal government pays a $500 unemployment benefit to an unemployed person; (2) the federal government makes a $2,000 salary payment to a Navy lieutenant; (3) the city of Bozeman, Montana makes a $10,000 payment to ABC Lighting Company for street lights in Bozeman. Which of these payments contributes directly to government purchases in the national income accounts?
A．(1) B．(2)
C．(1) and (2) D．(2) and (3).
（ C ）14．An American soldier stationed in California receives a paycheck from the federal government for $500, which she uses to purchase a $300 stereo made in Korea by a Korean firm and $200 worth of groceries produced in California. As a result, U.S. GDP increases by
A．$200 B．$500 C．$700 D．$1000
（ D ）15．When economists talk about growth in the economy, they measure that growth as the
A．absolute change in nominal GDP from one period to another.
B．percentage change in nominal GDP from one period to another.
C．absolute change in real GDP from one period to another.
D．percentage change in real GDP from one period to another.
（ C ）16．Many things that society values, such as good health, high-quality education, enjoyable recreation opportunities, and desirable moral attributes of the population, are not measured as part of GDP. It follows that
A．GDP is not a useful measure of society's welfare.
B．GDP is still a useful measure of society's welfare because providing these other attributes is the responsibility of government.
C．GDP is still a useful measure of society's welfare because it measures a nation's ability to purchase the inputs that can be used to help produce the things that contribute to welfare.
D．GDP is still the best measure of society's welfare because these other values cannot actually be measured.
（ B ）17．During a presidential campaign, the incumbent argues that he should be reelected because nominal GDP grew by 12 percent during his 4-year term in office. You know that population grew by 4 percent over the period and that the GDP deflator increased by 6 percent during the past 4 years. You should conclude that real GDP per person
A．grew by more than 12 percent. B．grew, but by less than 12 percent.
C．was unchanged. D．decreased.
（ D ）18．In the IS model, endogenous variable(s) is (are)
A．consumption B．investment C．saving D．all above variables
（ B ）19．If the consumption function is C = 100 + 0.75Y, the MPS is
A．100 B．0.25 C．0.75 D．None of the above
（ A ）20．The multiplier of transfer payment is
A．MPC/(1-MPC ) B．-MPC/(1-MPC ) C．1/(1-MPC ) D．-1/(1-MPC )

得 分
三、计算题（共40分）
1. The table below contains data for the country of Wrexington for the year 2009.
Total income
$5731
Household purchases of durable goods
$1108
Household purchases of nondurable goods
$702
Household purchases of non-education services
$203
Household purchases of education services
$302
Household purchases of new housing
$816
Purchases of capital equipment
$333
Inventory changes
$75
Purchases of new structures
$267
Depreciation
$401
Local government spending on goods and services
$236
State government spending on goods and services
$419
Federal government spending on goods and services
$1182
Transfer payments
$707
Foreign purchases of domestically produced goods
$217
Domestic purchases of foreign goods
$129
Please answer the following questions. (共10分)
a). What was Wrexington’s GDP in 2008? (2分)
GDP= Total income=$5731=C+I+G+NX=2315+1491+1837+88
b).What was Wrexington’s consumption in 2008? (2分)
Consumption= Household purchases of durable goods+ Household purchases of nondurable goods+ Household purchases of non-education services+ Household purchases of education services=$2315
c). What was Wrexington’s investment in 2008? (2分)
Investment= Household purchases of new housing+ Purchases of capital equipment+ Inventory changes+ Purchases of new structures=$1491
d).What were Wrexington’s government purchases in 2008? (2分)
Government purchases= Local government spending on goods and services+ State government spending on goods and services+ Federal government spending on goods and services= $1837
e). What were Wrexington’s net exports in 2008? (2分)
Net exports= Foreign purchases of domestically produced goods- Domestic purchases of foreign goods= $88

2. 2. Consider an economy A described by the following equations:
Y = C + I + G + NX,
Y = 5,000,
G = 1,000,
T = 1,000,
C = 250 + 0.75(Y − T ),
I = 1,000 − 50r,
NX = 500 − 500e,
r = r* = 5.
a. In this economy, solve for national saving, investment, the trade balance, and the equilibrium exchange rate.
b. Suppose now that G rises to 1,250. Solve for national saving, investment, the trade balance, and the equilibrium exchange rate.
c. Now suppose that the world interest rate rises from 5 to 10 percent. (G is again 1,000.) Solve for national saving, investment, the trade balance, and the equilibrium exchange rate.

3. The table below contains data for The First Bank of Wahooton.
The First Bank of Wahooton
Assets
Liabilities
Reserves $25,000
Deposits $150,000
Loans 125,000

Please answer the following questions. (共15分)
a). If the bank faces a reserve requirement of 10 percent, how much excess reserves does the bank have? (3分)
It has excess reserves of $10,000.
b). If the bank faces a reserve requirement of 10 percent, how much new loan can the bank make? (3分)
It can make a new loan of $10,000.
c). Suppose the bank faces a reserve requirement of 10 percent. Starting from the situation as depicted by the T-account, a customer deposits an additional $50,000 into his account at the bank. If the bank takes no other action, How much excess reserves will it have? (3分)
an additional $50,000 →reserve requirement Increase =$50,000 *10%= $5,000
excess reserves Increase=$45,000
$55,000 in excess reserves.
d). If the bank faces a reserve requirement of 20 percent, how much additional reserves does it need to meet its reserve requirements? (3分)
It needs $5,000 more reserves to meet its reserve requirements.
e). If the First Bank of Wahooton is holding $4,000 in excess reserves, what is the reserve requirement with which it must comply? (3分)
14 percent.