课程名称︰经济学二
课程性质︰
课程教师︰吴中书
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考试日期（年月日）︰
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试题 :
1. Which of the following is not an explanation for the existence of
structural unemplotment?
a. efficiency wages
b. job search
c. minimum-wage laws
d.unions
2. Gwen is an unpaid worker in her family's restaurant. The Bureau of Labor
Statistics counts Gwen as
a. unemployed and in the labor force.
b. unemployed and not in the labor force.
c. employed and in the labor force.
d. employed and not in the labor force.
3. Minimum-wage laws and unions are similar to each other but different from
efficiency wages in that minimum-wage law and unions
a. cause employment, but efficiency wages do not.
b. cause the quantity of labor supplied to exceed the quantity of labor
demanded, but efficiency wages do not.
c. cause wages to be below the equilibrium level.
d. prevent firms from lowering wages in the presence of a surplus of workers.
4. Refer to Table 28-7. If the local government imposed a minimum wage of $7
in Productionville, What is difference between the new employed workers and
the original equilibrium level?
a. 0
b. 2000
c. 3000
d. 10000
Table 28-7
Wage Quantity Demanded Quantity Supplied
$8 6000 16000
$7 9000 14000
$6 12000 12000
$5 15000 10000
$4 18000 8000
5. Any item that people can use to transfer purchasing power from the present
to the future is called
a. a medium of exchange.
b. a unit of account.
c. a store of value.
d. None of the above is correct.
6. Which of the following is included in both U.S. M1 and M2?
a. savings deposits
b. demand deposits
c. small time deposits
d. money market mutual funds
7. John and Jane decide to go on a vacation. As a result, they withraw $2500
from their savings account to purchase $2500 worth of traveler’s checks. As
a result of these changes,
a. M1 increases by $2500 and M2 decrease by $2500.
b. M1 increases by $2500 and M2 stays the same.
c. M1 and M2 stay the same.
d. M1 decrease by $2500 and M2 increases by $2500.
8. Banks are able to create money only when
a. interest rates are above 2%.
b. the Fed sells U.S. government bonds.
c. the reserve ratio is 100%.
d. only a fraction of deposits are held in reserve.
9. The supply of money increases when
a. the value of money increases.
b. the interest rate increases.
c. the Federal Reserve purchases bonds.
d. velocity increases.
10. Your boss gives you an increase in the number of dollars you earn per
hour. This increase in pay makes
a. your nominal wage increase. If your nominal wage rose by a greater
percentage than the price level, then your real wage also increased.
b. your nominal wage increase. If your nominal wage rose by a greater
percentage than the price level, then your real wage decreased.
c. your real wage increase. If your real wage rose by a greater percentage
than the price level, then your nominal wage also increased.
d. your real wage decrease. If your real wage rose by a greater percentage
than the price level, then your nominal wage decreased.
11. According to the assumptions of the quantity theory of money, if the
money supply increases 5 persent, then
a. both the price level and the real GDP would rise by 5 percent.
b. the price level would rise by 5 percent and real GDP would be unchanged.
c. the price level would be unchanged and real GDP would rise by 5 persent.
d. both the price level and real GDP would be unchanged.
12. When inflation rises, people tend to go to the bank
a. more often, giving rise to menu costs.
b. more often, giving rise to shoeleather costs.
c. less often, giving rise to redistribution costs.
d. less often, thereby lessening the severity of the inflation tax.
13. If a country has a trade surplus
a. it has positive net exports and positive net capital outflow.
b. it has positive net exports and negative net capital outflow.
c. it has negative net exports and positive net capital outflow.
d. it has negative net exports and negative net capital outflow.
14. Other things the same, the real exchange rate between American and
Chinese goods would be higher if
a. prices of Chinese goods were higher, or the number of yuan a dollar
purchased was higher.
b. prices of Chinese goods were higher, or the number of yuan a dollar
purchased was lower.
c. prices of Chinese goods were lower, or the number of yuan a dollar
purchased was higher.
d. prices of Chinese goods were lower, or the number of yuan a dollar
purchased was lower.
15. In the U.S. a digital camera cost $200. The same camera in London sells
for 90 pounds. If the exchange rate were .50 pounds per dollar, then which of
the following would be correct.
a. The real exchange rate is greater than 1. A person in London with $200
could exchange them for pounds and have more than enough to buy the camera
there.
b. The real exchange rate is greater than 1. A person in London with $200
could exchange them for pounds but then wouldn’t have enough to buy the
camera there.
c. The real exchange rate is less than 1. A person in London with $200 could
exchange them for pounds and have more than enough to buy the camera there.
d. The real exchange rate is less than 1. A person in London with $200 could
exchange them for pounds but then wouldn’t have enough to buy the camera
there.
16. Which of the following statement is not correct?
a. Higher real interest rate increases quantity of loanable funds supplied.
b. Net purchase of capital overseas adds to the demand for domestically
generated lonable funds.
c. Higher real interest rate would discourage American from buying foreign
assets and increase U.S. net capital outflow.
d. Lower real interest rate increases quantity of loanable funds demanded.
17. Which of the following statement about government budget deficits is not
correct?
a. Reduces supply of loanable funds
b. Reduce in interest rate
c. Reduces net capital outflow
d. Crowd-out domestic investment
18. In 1994, political instability in Mexico lead to capital flight, then
a. Interest rate in Mexico decreased
b. The peso appreciated relative to dollar
c. Slowed capital accumulation in Mexico
d. U.S. net capital outflow increased
19. Why does the aggregate-demand curve slope downward?
a. A lower price level decreases real wealth, which stimulates spending on
consumption
b. A lower price level reduces the interest rate, which stimulates spending
on investment
c. A lower price level causes the real exchange rate to appreciate, which
stimulates spending on net exports
d. All of the above is correct
20. Why does the short-run aggregate-supply curve slope upward?
a. An unexpectedly low price level raises the real wage, which causes firms
to hire fewer workers and produce a smaller quantity of goods and services.
b. An unexpectedly low price level leaves some firms with higher-then-desired
price, which depresses their sales and leads them to cut back production.
c. An unexpectedly low price level leads some suppliers to think their
relative prices have fallen, which induces a fall in production.
d. All of the above is correct.
21. The aggregate-demand curve might shirt to the right when
a. deceases taxes on the returns to investment
b. foreign economies go into recession
c. a cutback in defense spending
d. a desire for increased saving
22. Which of the following statement about sticky-wage theory is not correct?
a. Nominal wages are often slow to adjust to changing economic conditions due
to long-term contracts between workers and firms
b. Nominal wages are based on expected prices and do not adjust immediately
when the actual price level differs from what is expected
c. If price level less than expected, then firms have incentive to produce
more output
d. If production is now less profitable, then the firm hires fewer workers
23. For the U.S. economy, which of the following helps explain the slope of
the aggregate-demand curve?
a. An increase in the price level decreases the interest rate.
b. An increase in the price level increases the interest rate.
c. An increase in the money supply decreases the interest rate.
d. An increase in the money supply increases the interest rate.
24.According to liquidity preference theory,
a. an increase in the interest rate reduces the quantity of money demanded.
This is shown as a movement along the money-demand curve. An increase in the
price level shifts money demand to the right.
b. an increase in the interest rate increases the quantity of money demanded.
This is shown as a movement along the money-demand curve. An increase in the
price level shifts money demand leftward.
c. an increase in the price level reduces the quantity of money demanded.
This is shown as a movement along the money-demand curve. An increase in the
interest rate shifts money demand rightward.
d. an increase in the price level increases the quantity of money demanded.
This is shown as a movement along the money-demand curve. An increase in the
interest rate shifts money demand leftward.
http://i.imgur.com/Sd7n5vN.jpg
25. Refer to Figure a. If the current interest rate is 2 percent,
a. there is an excess supply of money.
b. people will sell more bonds, which drives interest rates up.
c. as the money market moves to equilibrium, people will buy more goods.
d. All of the above are correct.
26. Refer to Figure a. Which of the following is correct?
a. If the interest rate is 4 percent, there is excess money demand, and the
interest rate will fall.
b. If the interest rate is 3 percent, there is excess money supply, and the
interest rate will rise.
c. Starting with an interest rate of 4 percent, the demand for goods and
services will increase until the money market reaches a new equilibrium.
d. None of the above is correct.
27. If policymakers decrease aggregate demand, then in the short run the
price level
a. falls and unemployment rises.
b. and unemployment fall.
c. and unemployment rise.
d. rises and unemployment falls.
http://i.imgur.com/DpJCipa.jpg
28.Refer to Figure b. What is measured along the horizontal axis of the
left-hand graph?
a. the wage rate
b. the inflation rate
c. employment
d. output
29.Refer to Figure b. Assuming the price level in the previous year was 100,
point F on the right-hand graph corresponds to
a. point A on the left-hand graph.
b. point B on the left-hand graph.
c. point C on the left-hand graph.
d. point D on the left-hand graph.
30. Refer to Figure b. Assuming the price level in the previous year was 100,
point G on the right-hand graph corresponds to
a. point A on the left-hand graph.
b. point B on the left-hand graph.
c. point C on the left-hand graph.
d. point D on the left-hand graph.