課程名稱︰經濟學二
課程性質︰必修 通識A5
課程教師︰吳中書
開課學院：
開課系所︰
考試日期（年月日）︰103.06.16
考試時限（分鐘）：180分鐘
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
Multiple choice(單選題，90 points, with 3 points for each，基本分10分)
1. A bank's reserve ratio is 5 percent and the bank has $1000 in deposits.
It's reserves ammount to
a. $5 b.$50 c.$95 d.$950
2. If the reserve ratio is 5 percent, then $1000 of additional reserves can
create up to
a. $200 of new money b. $2000 of new money
c. $20000 of new money d. None of the above is correct
3. The discount rate is
a. the rate at which public banks lend to other public banks
b. the rate at which Fed lends to banks
c. the percentage difference between the face value of a Treasury bond and
what the Fed pays for it
d. the percentage of deposits banks hold as excess reserves
4. If the discount rate is lowered, banks borrow
a. less from the Fed so reserves increase
b. less from the Fed so reserves decrease
c. more from the Fed so reserves increase
d. more from the Fed so reserves decrease
5. A problem that the Fed faces when it attempts to control the money supply
is that
a. the 100-percent-reserve banking system in the U.S. makes it difficult
for the Fed to carry out its monetary policy
b. the Fed has to get the approval of the U.S. Treasury Department whenever
it uses any of it monetary policy tools
c. the Fed does not have a tool that it can use to change the money supply
by either a small ammount for a large ammount
d. the Fed does not control the ammount of money that households choose to
hold as deposits in banks
6. Money demand refers to
a. the total quantity of financial assets that people want to hold.
b. how much income people want to earn per year
c. how much wealth people want to hold in liquid form
d. how much currency the Federal Reserve decides to print
Figure 1. On the graph, MS represents the money supply and MD
represents money demand. The usual quantities are measured along
the axes.
↑P
｜ ∣
∣ ∣ MS1 MS2
｜ ﹨ ∣ ∣
∣ ﹨ ∣ ∣
∣ ﹨∣ ∣
∣ ﹨ ∣
0.5∣════ ﹨ ∣
∣ ∣╲ ∣
∣ ∣ ╲
0.33｜═══════｜＼
∣ ∣ ∣ ╲ MD
─────┴───────→ M
10000 15000
7. Refer to Figure 1. If the relevant money-supply curve is the one labled MS1
, then the equilibrium price level is
a. 0.5 and the equilibrium value of money is 2
b. 2 and the equilibrium value of money is 0.5
c. 0.5 and the equilibrium value of money cannot be determined from the
graph
d. 2 and the equilibrium value of money cannot be determined from the graph
8. In which case below is the real interset rate the highest?
a. the nominal interest rate = 4% and inflation = 3%
b. the nominal interest rate = 3% and inflation = 1%
c. the nominal interest rate = 2% and inflation = -2%
d. the nominal interest rate = 1% and inflation = -4%
9. When inflation falls, people
a. make less frequent trips to the bank and firms make less frequent price
changes
b. make less frequent trips to the bank while firms make more frequency
price changes
c. make more frequent trips to the bank while firms make less frequency
price changes
d. make more frequent trips to the bank while firms make more frequency
price changes
10.High and unexpected inflation has a great cost
a. for those who save than for those who borrow
b. for those who hold a little money than for those who hold a lot of money
c. for those whose wages increase by as much as inflation than those who
are paid a fixed nominal wage
d. for savers in low income tax brackets than for savers in high income tax
brackets
11.Other things the same, which of the following would both make foreigners
more willing to engage in U.S. portfolio investment?
a. U.S. intrest rates rise, the default risk U.S. assets rise
b. U.S. intrest rates rise, the default risk U.S. assets fall
c. U.S. intrest rates fall, the default risk U.S. assets rise
d. U.S. intrest rates fall, the default risk U.S. assets fall
12.If a country has negative net capital outflows, then its net exports are
a. positive and its saving is larger than its domestic investment
b. positive and its saving is smaller than its domestic investment
c. negative and its saving is larger than its domestic investment
d. positive and its saving is smaller than its domestic investment
13.The country of Sylvania has a GDP of $900, investment of $200, government
purchases of $200, and net capital outflow of -$100. What is consumption?
a. $700 b. $600 c. $500 d. $300
14.Other things the same, the real exchange rate between American and Mexican
goods would be lower if
a. prices of Mexican goods were higher, or the number of pesos a dollar
purchased was higher
b. prices of Mexican goods were higher, or the number of pesos a dollar
purchased was lower
c. prices of Mexican goods were lower, or the number of pesos a dollar
purchased was higher
d. prices of Mexican goods were lower, or the number of pesos a dollar
purchased was lower
15.When the real exchange rate for the dollar appreciates, U.S. goods become
a. less expensive relative to foreign goods, which makes exports rise and
imports fall
b. less expensive relative to foreign goods, which makes exports fall and
imports rise
c. more expensive relative to foreign goods, which makes exports rise and
imports fall
d. less expensive relative to foreign goods, which makes exports fall and
imports rise
16.The country of Frequencia is politically very stable and has a long
tradition of respecting property rights. If a several other countries
suddenly became politically unstable, we would expect Frequenci's
a. real interest rate to rise
b. real exchange rate ti fall
c. nets exports to fall
d. None of the above is likely
17.Which of the following will decrease U.S. net capital outflow?
a. capital flight from the United States
b. the government budget deficit increase
c. the U.S. imposes import quotas
d. None of the above is correct
18.Which of the following is not included in aggregate demand?
a. purchases of stock and bonds
b. purchases of services such as visits to the doctor
c. purchases of capital goods such as equipment in a factory
d. purchases by foreigners of consumer goods produced in the United States
19.The long-run aggregate supply curve would shift right if immigration from
abroad
a. increased or Congress made a substantial increase in the minimum wage
b. decreased or Congress abolished the minimum wage
c. increased or Congress abolished the minumum wage
d. decreased or Congress made a substantial increase in the minimum wage
20.Some countries have high minimum wages and require lengthy and costly
process to get permission to open a business
a. Reducing either the minimum wage or the time and cost to open a business
would have no effect on the long-run aggregate supply curve
b. Reducing the minimum wage and the time and cost to open a business would
both shift the long-run aggregate supply curve to the right
c. Reducing the minimum wage would shift long-run aggregate supply to the
right. Reducing the time and cost to open a business would have no
effect on the long-run aggregate supply curve
d. Reducing the minimum wage would have no effect on the long-run aggregate
supply curve. Reducing the time and cost to open a business would shift
the long-run aggregate supply curve to the right
21.In which case can be sure real GDP rises in the short run?
a. the money supply increases and taxes rise
b. the money supply increases and taxes fall
c. the money supply decreases and taxes rise
d. None of the above are correct
22.Suppose that the economy is at long-run equilibrium. If there is a sharp
decline in the stock market combined with a significant increase in
immigration of skilled workers, then in the short run
a. real GDP will rise and the price level might rise, fall, or stay the
same
b. real GDP will fall and the price level might rise, fall, or stay the
same
c. the price level will rise, and real GDP might rise, fall, or stay the
same
d. the price level will fall, and real GDP might rise, fall, or stay the
same
23.According to liquidity preference theory, if the quantity of money supplied
is greater than the quantity demanded, then the interest rate will
a. increase and the quantity of money demanded will decrease
b. increase and the quantity of money demanded will increase
c. decrease and the quantity of money demanded will decrease
d. decrease and the quantity of money demanded will increase
24.Which of the following statements is correct for the short run?
a. Output is determined by the ammount of capital, labor, and technology;
the interest rate adjusts to balance the supply and demand for money;
the price level adjusts to balance the supply and demand for loanable
funds
b. Output is determined by the ammount of capital, labor, and technology;
the interest rate adjusts to balance the supply and demand for loanable
funds; the price level adjusts to balance the supply and demand for
money
c. Output responds to the aggregate demand for goods and services; the
interest rate adjusts to balance the supply and demand for money; the
price level is relatively slow to adjust
d. Output responds to the aggregate demand for goods and services; the
interest rate adjusts to balance the supply and demand for loanable
funds; the price level adjusts to balance the supply and demand for
money
25.Which of the following illustrates how the investment accelerator works?
a. An increase in government expenditures increases the interest rate so
that the Burgerville chain of restaurants decides to build fewer new
restaurants
b. An increase in government expenditures increases aggregate spending so
that Burgerville finds it profitable to build more new restaurants
c. An increase in government expenditures increases the interest rate so
that the demand for stocks and bonds issued by Burgerville increases
d. An increase in government expenditures increases the interest rate so
that Burgerville decides to build more new restaurants
26.Opponents of active stabilization policy
a. advocate a monetary policy designed to offset changes in the
unemployment rate
b. argue that fiscal policy is unable to change aggregate demand or
aggregate supply
c. believe that the political process creates lags in the implementation of
fiscal policy
d. None of the above is correct
27.In the long run, the level of output
a. depends on the money supply
b. depends on the price level
c. is determined by supply-side factors
d. All of the above are correct
28.In the long run reduction in the money supply growth rate affects
a. the inflation rate and the natural rate of unemployment
b. the inflation rate but not the natural rate of unemployment
c. neither the inflation rate nor the natural rate of unemployment
d. the natural rate of unemployment, but not the inflation rate
29.There is a temporary adverse supply shock. Given the effects of this shock,
if the central bank chooses to return unemployment closer to its previous
rate it would (Note: An adverse supply shock, such as an increase in world
oil prices, gives policymakers a less favorable trade-off between inflation
and unemployment.)
a. raise the rate at which it increases the money supply. In the long run
this will shift the short-run Phillips curve right
b. raise the rate at which it increases the money supply. In the long run
this will shift the short-run Phillips curve left
c. reduce the rate at which it increases the money supply. In the long run
this will shift the short-run Phillips curve right
d. reduce the rate at which it increases the money supply. In the long run
this will shift the short-run Phillips curve left
30.Disinflation is like
a. slowing a car down, whereas deflation is like putting the car into
reverse gear
b. maintaining a car's speed, whereas deflation is like slowing the car
down
c. putting a car into reverse gear, whereas deflation is like slowing the
car down
d. maintaining a car's speed, whereas deflation is like putting the car
into reverse gear