2011年春宏观经济学公选课期中考试试题
注：本次考试全部为单项选择题，请将答案写在一张16开纸上。请于第9周（2011年4月26日）晚上课时将答案交给我。
1. In order to include many different products in a summary or aggregate measure,
GDP
a. uses a combination of weights and measures. b. uses a combination of price indexes and costs of production of the products. c. uses only the cost of production of the products. d. uses market prices.
2. Chris lives in Utah, where gambling is illegal. Chris becomes a professional
gambler, going to work each week in Idaho, where gambling is legal. In 2001, he earns $100,000 from his profession. What will be the effect of his earnings on GDP
a. None of his earnings will be included in GDP because gambling is illegal
in his home state.
b. Only the part of his earnings spent in Idaho will be included in GDP. c. GDP will increase by $100,000 because the income was earned legally. d. GDP will increase by a fraction of $100,000, equal to the fraction of the time Chris spends in Idaho.
3. Latrell decides to hire Cynthia to mow his lawn, instead of mowing it himself,
as he is accustomed to doing. As a result of this transaction, a. GDP will increase. b. GDP will decrease. c. GDP will be unaffected because the same service would be performed in either case. d. GDP could increase or decrease, depending on whether Cynthia mows Latrell's lawn as well as Latrell could mow it himself.
4. Suppose you find out that the GDP of China is $1,000 billion and the GDP of the
United States is $10,000 billion. You should conclude that a. the typical person in the United States is 10 times as well off as the typical
person in China.
b. the typical person in the United States is more than 10 times as well off
as the typical person in China.
c. the typical person in the United States is less than 10 times as well off
as the typical person in China.
d. it is not possible to make a good comparison of the economic well-being
of typical individuals in the two countries without additional information.
5. The Necco candy factory in Cambridge, Massachusetts, found that it had produced
100,000 more rolls of Neccos in 1980 than it sold during the year. The value of those 100,000 rolls
a. would be written off as a loss; hence, would not be included as part of 1980 GDP.
b. would be included as part of GDP during the year in which they were finally sold.
c. would be included as part of 1980 GDP in the category of inventory investment.
d. None of the above are correct answers. 6. Oiko Nomos buys a new computer in June 2001 and then sells it to a friend in December
2001. GDP
a. will include the value of both the June sale and the December sale. b. will include the full value of the June sale, but only part of the value
of the December sale, since the computer had been used. c. will include the value of the June sale only.
d. will include the value of the December sale only, since that was the final
sale of the computer in 2001.
7. The income that households and noncorporate businesses receive is called
a. proprietors' income. b. personal income.
c. disposable personal income. d. national income.
8. The government reports that GDP \
a. GDP increased by 8 percent for the year.
b. GDP increased at an annual rate of 8 percent during the last quarter. c. GDP increased at an annual rate of 2 percent during the last quarter. d. GDP increased at an annual rate of .5 percent during the last quarter. 9. If you buy a seafood dinner in a local restaurant
a. neither GDP nor consumption spending will be affected because you would
have eaten at home if you hadn't eaten at the restaurant.
b. GDP will be higher, but consumption spending will be unchanged. c. GDP will be unchanged, but consumption spending will be higher. d. both GDP and consumption spending will be higher.
10. If the GDP deflator was 100 in the base year of 2000, and was 105 in 2002, we
can say that
a. the price level increased by 105 percent from 2000 to 2002. b. the price level increased by 5 percent from 2000 to 2002. c. the price level increased by 205 percent from 2000 to 2002.
d. we cannot judge price increases from changes in the GDP deflator.
11. When the overall level of prices in the economy is increasing, we say that the
economy is experiencing a. economic growth. b. inflation. c. unemployment. d. deflation.
12. The price index in 2001 is 120, and in 2002 the price index is 126. What is the
inflation rate a. 5 percent
b. 6 percent c. 26 percent d. The inflation rate is impossible to determine without knowing the base year. 13. When prices change from year to year,
a. they all change proportionately. b. they always increase. c. they usually decrease.
d. they do not all change proportionately
14. An important difference between the GDP deflator and the consumer price index
is that
a. the GDP deflator reflects the prices of goods and services bought by
producers, whereas the consumer price index reflects the prices of goods and services bought by consumers.
b. the GDP deflator reflects the prices of all goods and services produced
domestically, whereas the consumer price index reflects the prices of goods and services bought by consumers.
c. the GDP deflator reflects the prices of all goods and services produced
by a nation's resources, whereas the consumer price index reflects the prices of goods and services bought by consumers.
d. the GDP deflator reflects the prices of goods and services bought by
producers and consumers, whereas the consumer price index reflects the prices of goods and services bought by consumers.
15. In the United States, if the price of imported oil rises,
a. the GDP deflator rises much more than does the consumer price index. b. the consumer price index rises much more than does the GDP deflator. c. the GDP deflator and the consumer price index rise by about the same amount. d. the consumer price index rises slightly more than does the GDP deflator. 16. Babe Ruth's 1931 salary was $80,000. The price index for 1931 is and the price
index for 1999 is 166. Ruth's 1931 salary was equivalent to a 1999 salary of a. about $87,000. b. about $870,000. c. about $1,870,000. d. about $8,700,000.
17. Craig is offered an $80,000 per year job in Los Angeles, and a $60,000 per year
job in Bismark. The CPI for Los Angeles is 120 and the CPI for Bismark is 90. What is the Los Angeles job's purchasing power in \ a. $80,000 b. $107,000 c. $60,000 d. $72,000
18. If the nominal interest rate is 8% and rate of inflation is 3%, the real interest
rate is a. 11%. b. 24%.
c. 5%. d. %.
19. Which of the following is not true
a. Growth rates of real GDP per person vary substantially from country to country.
b. GDP measures total expenditures and total income.
c. Richer countries have more televisions, better nutrition, better health
care, and longer life expectancy.
d. Productivity is not closely linked to government policies. 20. A nation's standard of living is determined by
a. productivity.
b. gross domestic product. c. national income.
d. how much it has relative to others.
21. In 2000, Erehwon had a population of 4,000 and real GDP of about 12,000,000.
In 1999 it had a population of 3,500 and real GDP of about 9,625,000. What was the growth rate of real GDP per person in Erehwon between 1999 and 2000 a. about 25 percent b. about 14 percent c. about 9 percent
d. None of the above are correct.
22. If James expects to have a 10 percent salary increase each year, how long will
it take for his salary to double according to the \ a. 5 years b. 7 years c. 14 years d. 20 years
23. Robin lives on a deserted island. If she spends 8 hours fishing, she catches
24 fish. Her productivity of fishing is a. 192 fish.
b. 1/3 hour per fish. c. 3 fish per hour.
d. The answer cannot be computed using the information provided. 24. In a market economy, scarcity of resources is reflected in
a. supply. b. demand.
c. the stock of the resource. d. market prices.
25. If your firm has constant returns to scale, then if you doubled all your inputs
your firm's output would a. not change.
b. increase, but by less than double. c. double.
d. more than double.
26. One of the Ten Principles of Economics in Chapter 1 is that people face tradeoffs.
The growth that arises from capital accumulation is not a free lunch: It requires that society
a. conserve resources for future generations. b. recycle resources so that future generations can produce goods and services
with the accumulated capital.
c. sacrifice consumption goods and services now in order to enjoy more
consumption in the future. d. None of the above are correct.
27. In the long run, a higher saving rate increases the
a. level of income.
b. growth rate of output.
c. growth rate of productivity. d. All of the above are correct. 28. If your American-based firm opens and operates a new plastics factory in Ireland,
your firm is engaging in
a. foreign portfolio investment. b. foreign financial investment. c. indirect foreign investment. d. foreign direct investment.
29. Which of the following is generally an opportunity cost of investment in human
capital
a. increased earning potential b. future job security
c. forgone wages at present
d. All of the above are correct.
30. Other things the same, a country is likely to have a lower growth rate than other
countries if it
a. has a small population.
b. pursues inward-looking policies. c. encourages foreign investment. d. protects property rights. 31. Financial markets are
a. the financial institutions through which savers can indirectly provide
funds to borrowers.
b. the financial institutions through which savers can directly provide funds
to borrowers.
c. the financial institutions that sell shares to the public and use the
proceeds to buy a selection of various types of stocks and/or bonds. d. None of the above are correct.
32. Alonzo pays $10,000 to buy a bond from IBM that promises repayment ten years
from today. Which of the following is correct a. Alonzo is the principal of this bond. b. The bond matures in 10 years.
宏观经济学期中考试试题
