课程名称︰经济学二
课程性质︰通识
课程教师︰吴中书
开课学院：社科院
开课系所︰经济系
考试日期（年月日）︰
考试时限（分钟）：
试题 :
1. 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.
ANSWER: B
2. A German citizen buys an automobile produced in the United States by a
Japanese company. As a result,
(A) U.S. net exports increase, U.S. GDP is unaffected, Japanese GNP
increases, German et exports decrease, and German GNP and GDP are unaffected.
(B) U.S. net exports and GDP increase, Japanese GNP increases, German net
exports decrease, German GNP is unaffected, and German GDP decreases.
(C) U.S. net exports and GDP increase, Japanese GNP increases, German net
exports decrease, and German GNP and GDP are unaffected.
(D) U.S. net exports and GDP are unaffected, Japanese GNP increases, and
German net exports, GNP, and GDP decrease.
ANSWER: C
3. Suppose there are only two firms in an economy: Rolling Rawhide produces
rawhide and sells it to Chewy Chomp, Inc., which uses the rawhide to produce
and sell dog chews. With each $1 worth of rawhide that it buys from Rolling
Rawhide, Chewy Chomp, Inc. produces a dog chew and sells it for $2.50.
Neither firm had any inventory at the beginning of 2014. During that year,
Rolling Rawhide produced enough rawhide for 2000 dog chews. Chewy Chomp, Inc.
bought 90% of that rawhide for $1800 and promised to buy the remaining 10%
for $200 in 2015. Chewy Chomp, Inc. produced 1800 dog chews during 2014 and
sold each one during that year for $2.50. What was the economy’s GDP for
2014?
(A) $3,800
(B) $4,500
(C) $4,700
(D) $5,000
ANSWER: C
4. Which of the following is not a widely acknowledged problem with using the
CPI as a measure of the cost of living?
(A) substitution bias
(B) introduction of new goods
(C) unmeasured quality change
(D) unmeasured price change
ANSWER: D
5. In 1970, Professor Plum earned $12,000; in 1980, he earned $24,000; and in
1990, he earned $36,000. If the CPI was 40 in 1970, 60 in 1980, and 100 in
1990, then in real terms, Professor Plum’s salary was highest in
(A) 1980 and lowest in 1970.
(B) 1980 and lowest in 1990.
(C) 1990 and lowest in 1970.
(D) 1990 and lowest in 1980.
ANSWER: A
6. The CPI is a measure of the overall cost of
(A) the inputs purchased by a typical producer.
(B) the goods and services purchased by a typical consumer.
(C) the goods and services produced in the economy.
(D) the stocks on the New York Stock Exchange.
ANSWER: B
7. Other things the same, when an economy increases its saving rate
(A) consumption and production rise now.
(B) consumption rises now and production rises later
(C) consumption falls now and production rises later.
(D) consumption falls now and production falls later.
ANSWER: C
8. Suppose that a country increased its saving rate. In the long run it would
have
(A) higher productivity, and another unit of capital would increase output by
more than before.
(B) higher productivity, but another unit of capital would increase output by
less than before.
(C) lower productivity, and another unit of capital would increase output by
more than before.
(D)lower productivity, but another unit of capital would increase output by
less than before.
ANSWER: B
9. Suppose that the U.S. undertakes a policy to increase its saving rate.
This policy will likely
(A) have no impact on the growth rate of real GDP per person.
(B) decrease the growth of real GDP per person for a few years.
(C) increase the growth of real GDP per person for several decades.
(D) permanently increase the growth rate of real GDP per person.
ANSWER: C
10. If a Japanese company opens a new factory in South Korea, it makes
(A) foreign direct investment. The factory will make a bigger impact on South
Korea’s GDP than on its GNP.
(B) foreign direct investment. The factory will make a bigger impact on South
Korea’s GNP than on its GDP.
(C) foreign portfolio investment. The factory will make a bigger impact on
South Korea’s GDP than on its GNP.
(D) foreign portfolio investment. The factory will make a bigger impact on
South Korea’s GNP than on its GDP.
ANSWER: A
11. Last year a country had 800 workers who worked an average of 8 hours and
produced 12,800 units. This year the same country had 1000 workers who worked
an average of 8 hours and produced 14,000 units. This country’s productivity
was
(A) higher this year than last year. A possible source of this change in
productivity is a change in the size of the capital stock.
(B) higher this year than last year. A change in the size of the capital
stock does not affect productivity.
(C) lower this year than last year. A possible source of this change in
productivity is a change in the size of the capital stock.
(D) lower this year than last year. A change in the size of the capital stock
does not affect productivity.
ANSWER: C
12. An increase in the saving rate would, other things the same,
(A) increase growth more for a poor country than for a rich country, and
raise growth permanently.
(B) increase growth more for a poor country than for a rich country, but
raise growth temporarily.
(C) increase growth more for a rich country than for a poor country, and
raise growth permanently.
(D) increase growth more for a rich country than for a poor country, but
raise growth temporarily.
ANSWER: B
13. For a closed economy, GDP is $12 trillion, consumption is $7 trillion,
taxes net of transfers are $3 trillion and the government runs a deficit of
$1 trillion. What are private saving and national saving?
(A) $5 trillion and $3 trillion, respectively
(B) $5 trillion and $1 trillion, respectively
(C) $2 trillion and $3 trillion, respectively
(D) $2 trillion and $1 trillion, respectively
ANSWER: D
14. Consider three different closed economies with the following national
income statistics. Country A has taxes of $40 billion, transfers of $20
billion, and government expenditures on goods and services of $30 billion.
County B has private savings of $60 billion, and investment expenditures of $40 billion.
Country C has GDP of $300 billion, investment of $90, consumption of $180
billion, taxes of $60 billion and transfers of $20 billion. From this
information, we know that
(A) country A has the largest government budget deficit.
(B) country B has the largest government budget deficit.
(C) country C has the largest government budget deficit.
(D) The government budget deficit is equal in all three countries.
ANSWER: B
15. A budget surplus
(A) occurs when the government has debt equal to zero.
(B) causes government debt to increase.
(C) exists when government spending is greater than tax revenues.
(D) reduces the government’s debt.
ANSWER: D
16. If a popular TV show on personal finance convinces more Americans, to
save the ________ curve for loanable funds would shift, driving the
equilibrium interest rate_______.
(A) Supply, up
(B) Supply, down
(C) Demand, up
(D) Demand, down
ANSWER: B
17. If the business community becomes more optimistic about the profitability
of capital, the______ curve for loanable funds would shift, driving the
equilibrium interest rate_________.
(A) Supply, up
(B) Supply, down
(C) Demand, up
(D) Demand, down
ANSWER: C
18. Economists in Funlandia, a closed economy, have collected the following
information about the economy for a particular year:
Y=10,000 C=6,000 T=1,500 G=1,700
The economists also estimate that the investment function is
I=3,300-100r
Where r is the country’s real interest rate, expressed as a percentage. For
example, if interest rate is 20%, then the r in the equation is 20 Calculate
private saving, public saving, and the equilibrium real interest rate.
(A) 2,500 ; -200 ; 10%
(B) 2,500 ; 2,300 ; 5%
(C) 2,300 ; -200 ; 10%
(D) 2,300 ; 2,500 ; 5%
ANSWER: A
19. Which of the following is the largest?
(A) the future value of $250 with 3% interest for 2 years
(B) the future value of $250 at 2% interest for 3 years
(C) the present value of $250 to be paid in two years when the interest rate
is 3%
(D) the present value of $250 to be paid in three years when the interest
rate is 2%
ANSWER: B
20. If the interest rate is r percent, then the rule of 70 says that your
savings will double about every
(A) 70/(1 - r) years.
(B) 70/(1 + r) years.
(C) 70/r years.
(D) 70(1 + r)/r years.
ANSWER: C
21. Abby buys health insurance because she knows that she has health risks
that wouldn’t be obvious to an insurance company. Brad buys home owners
insurance and then is less careful to make sure he’s put out his cigarettes.
The example with Abby
(A) and the example with Brad illustrate adverse selection.
(B) and the example with Brad illustrate moral hazard.
(C) illustrates adverse selection; the example with Brad illustrates moral
hazard.
(D) illustrates moral hazard; the example with Brad illustrates adverse
selection.
ANSWER: C
22. Alice says that the present value of $700 to be received one year from
today if the interest rate is 6 percent is less than the present value of
$700 to be received two years from today if the interest rate is 3 percent.
Beth says that $700 saved for one year at 6 percent interest has a smaller
future value than $700 saved for two years at 3 percent interest.
(A) Both Alice and Beth are correct.
(B) Both Alice and Beth are incorrect.
(C) Only Alice is correct.
(D) Only Beth is correct.
ANSWER: D
23. A risk-averse person
(A) has a utility curve where the slope increases with wealth, and might take
a bet with a 70 percent chance of winning $400 and a 30 per chance of losing
$400.
(B) has a utility curve where the slope increases with wealth, and would
never take a bet with a 70 percent chance of winning $400 and a 30 per cent
chance of losing $400.
(C) has a utility curve where the slope decreases with wealth, and might take
a bet with a 70 percent chance of winning $400 and a 30 per chance of losing
$400.
(D) has a utility curve where the slope decreases with wealth, and would
never take a bet with a 70 percent chance of winning $400 and a 30 per cent
chance of losing $400.
ANSWER: C
24. If you are convinced that stock prices are impossible to predict from
available information, then you probably also believe that [27.3,浩轩]
(A) the efficient markets hypothesis is not a correct hypothesis.
(B) the stock market is informationally efficient.
(C) the stock market is informationally inefficient.
(D) there is no reason to establish a diversified portfolio of stocks.
ANSWER: B
25. Efficiency wages contribute to
(A) frictional unemployment and the natural rate of unemployment.
(B) frictional unemployment but not the natural rate of unemployment.
(C) structural unemployment and the natural rate of unemployment.
(D) structural unemployment but not the natural rate of unemployment.
ANSWER: C
26. Which of the following is correct?
(A) Unemployment insurance raises structural unemployment because it reduces
the job search efforts of the unemployed.
(B) Most economists are skeptical of the value of unemployment insurance
primarily because they believe that it results in a poorer match between
workers and jobs.
(C) Studies show that when the unemployed become ineligible for benefits, the
probability of their finding a job rises markedly.
(D) All of the above are correct.
ANSWER: C
27. Suppose that a country becomes relatively better than other countries at
producing wind generators, in this country
(A) structural unemployment and so the natural rate of unemployment will
increase.
(B) structural unemployment and so cyclical unemployment will increase.
(C) frictional unemployment and so the natural rate of unemployment will
increase.
(D) frictional unemployment and the cyclical rate of unemployment will
increase.
ANSWER: C
28. Who of the following is not included in the Bureau of Labor Statistics' “
employed” category?
(A) those who worked in their own business.
(B) those who worked as unpaid workers in a family member's business.
(C) those waiting to be recalled to a job from which they had been laid off.
(D) those who were temporarily absent from work because of vacation.
ANSWER: C
29. When a union bargains successfully with employers, in that industry,
(A) both wages and unemployment increase.
(B) wages increase and unemployment decreases.
(C) wages decrease and unemployment increases.
(D) both wages and unemployment decrease.
ANSWER: A
[img]https://i.imgur.com/mhwJ05q.png[/img]
30. Refer to Figure above
If the government imposes a minimum wage of $4, how many workers will be
unemployed?
(A) 0
(B) 4,000
(C) 6,000
(D) 12,000
ANSWER: A