課程名稱︰經濟學二
課程性質︰
課程教師︰吳中書
開課學院：
開課系所︰工管系
考試日期（年月日）︰
考試時限（分鐘）：
試題 :
（共30題，單選題）
1. Which of the following is included in the calculation of GDP?
a) The purchase of tutoring services from a tutor who holds citizenship outside the country but resides within the country.
b) The pirchase of a new edition of a foreign textbook that was produced in a different nation.
c) The purchase of ink and paper supplies by a textbook company for the production of new textbooks.
d) The purchase of a used textbook from a friend who took the same class last year.
2. A Mexican oil field service company works on oil rigs in the U.S. The value of the company's services produced by Mexican citizens and the equipment they own is included in
a) Mexican GNP and U.S. GDP.
b) Mexican GDP and U.S. GNP.
c) Mexican GNP and U.S. GDP.
d) Mexican GDP and U.S. GDP.
3. Suppose a country has government expenditures of $3500, taxes of $2200, consumption of $9000, exports of $2500, imports of 2700, transfer payments of 750, capital depreciation of $800, and investment of $3000. GDP equals
a) $24450
b) $11550
c) $15300
d) $20700
4. Suppose an economy produces only eggs and ham. In 2009, 100 dozen eggs are sold at $3 per dozen and 50 pounds of ham sold at $4 per pound. In 2010, the base year, eggs sold at $1.50 per dozen and ham sold at $5 per pound. For 2009
a) nominal GDP is $400, real GDP is $500, and the GDP deflator is 80.
b) nominal GDP is $400, real GDP is $500, and the GDP deflator is 125.
c) nominal GDP is $500, real GDP is $400, and the GDP deflator is 80.
d) nominal GDP is $500, real GDP is $400, and the GDP deflator is 125.
5. The consumer price index is used to
a) monitor changes in the level of wholesale prices in the economy.
b) monitor changes in the cost of living over time.
c) monitor changes in the level of real GDP over time.
d) monitor changes in tje stock market.
6. The term inflation is used to describe a situation in which
a) the overall level of prices i the economy is increasing.
b) incomes in the economy are increasing.
c) stock-market prices are rising.
d) the economy is growing rapidly.
7.Which if the following is correct?
a) The GDP deflator is better than the CPI at reflecting the goods and services bought by consumers.
b) The CPI is better than the GDP deflator at reflecting the goods and services bought by consumers.
c) The GDP deflator and the CPI are equally good at reflecting the goods and services bought by consumers.
d) The GDP deflator is more commonly used as a guage of inflation than the CPI is.
8. In 1931 the price of a movie ticket was $0.25. The consumer price index was 15.2 in 1931, and 2010 in 2008. Using 2008 prices, the real price of a movie in 1931 was
a) $13.82.
b) $52.50.
c) $1.81.
d) $3.45.
9. If the interest rate is 7 percent and the real interest rate is -2.5 percent, then the inflation rate is
a) -9.5 percent.
b) -4.5 percent.
c) 4.5 percent.
d) 9.5 percent.
10. For an imaginary economy, the value of the consumer price index was 140 in 2013, and the inflation rate was 5.0 percent between 2013 and 2014. The consumer price index in 2014 was
a) 145.0
b) 147.0
c) 135.0
d) 133.3
11. Other things the same, an increasing in population growth
a) Increase capital per worker. However, these is some evidence that a higher population growth rate may decrease the pace of technological progress.
b) Decrease capital per worker. Further, there is some evidence that a higher population growth rate may decrease the pace of technological progress.
c) Increase capital per worker. Further, there is some evidence that a higher population growth rate may increase the pace of technological progress.
d) Decrease capital per worker. However, there is some evidence taht a higher population growth eate may increase the pace of technological progress.
12. Which of the following statement about catch-up effect is not correct?
a) This describes an important implication of diminishing returns
b) When workers have very little capital to begin with, an additional unit of capital will increase their produtivity by a great deal
c) Countries that start off rich tend to grow more rapidly than countries that start off poor
d) Helps to explain why South Korea had a growth rate more than three times larger than the United States over 1960-1990
13. When opening a company you need to buy computers, printers, furniture, and similar items. Economists call these expenditures
a) Investment in human capital
b) Business consumption expenditure
c) Personal saving
d) Capital investment
14. Annie, the CEO of a corporation operating in a relatively poor country where wages are low, decides to raise the wages of her workers even though she faces an excess supply of labor. Her decision
a) Might increase profits if it meas that wage is high enough for her workers to eat a nutritious diet that makes them more productive
b) May cause her workers to increase shirking
c) Will help eliminate the excess supply of labor
d) All of the above are correct
15. Which of the following statement is not correct?
a) Investment can increase the economy's stock of capital
b) Foreign protfolio investment is one of capital investment that is owned and operated a company by a foreign entity
c) World Bank encourages flow of capital to poor countries
d) World Bank and the International Monetary Fund set up after World War II
16. Which of the following statement about free trade is not correct?
a) Outward-oriented policies integrate into the world economy
b) Amount of trade would determine by geography
c) Inward-oriented policies avoid interaction with the rest of the world
d) Outward-oriented policies would cause adverse effect on economic growth
17. Nina wants ti buy and operate an ice-cream truck but doesn't have the financial resource to start the business. She borrows $5000 from her friend Max, to whom she promises an interest rate of 7 percent, and gets another $10000 from her friend David, to whom she promises a third of her profits. What best describes this situation?
a) Max is a stockholder, and Nina is a bondholder.
b) Max is a stickholser, and David is a bondholser.
c) David is a stockholder, and Nina is a bondholder.
d) David is a stockholder, and Max is a bondholder.
18. A closed economy has income of $1000, private consumption is $500 and tax is $200. What is private saving?
a) $100
b) $200
c) $300
d) $400
19. From 2008 to 2012, the ration of government debt to GDP in the United State.
a) Increased markedly
b) Decreased markedly
c) Was stable at a historically high level
d) Was stable at a historically low level
20. If the government collects more in tax revenue than is spends, and households consume more than they get in after-tax income, then
a) Private and public saving are both positive
b) Private and public saving are both negative
c) Private and saving is positive, but public saving is negative
d) Private and saving is negative, but public saving is positive
21. 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
22. If the business community becomes more optimistic about the profitability of capital, the ______ curve for loanable funds would shift, driving the equilibrium interesr rate ______.
a) Supply, up
b) Supply, down
c) Demand, up
d) Demand, down
23. Economists in Funlandia, a closed economy, have collected the following information about the economy for a particular year:
Y = 10000 C = 6000 T = 1500 G = 1700
The economists also estimate that the investment function is I = 3300 - 100r
Where r is the country's real interest rate, expressed as a precentage. For example, if interest rate 20%, the the r in the equation is 20. Calculate private saving, public saving, and the equilibrium real interest rate.
a) 2500; -200; 10%
b) 2500; 2300; 5%
c) 2300; -200; 10%
d) 2300; 2500; 5%
24. One way to characterize the different between compounding and discounting is to say that
a) compounding involves the assumption that the interest rate is zero, whereas discounting does not involve that assumption.
b) discounting involves the assumption that the interest rate is zero, whereas compounding does not involve that assumption.
c) the process of compounding produces a future value, whereas the process of discounting produces a present value.
d) the process of compounding produces a present value, whereas the process of discounting produces a future value.
25. Which of the following is the largest?
a) the future value of $250 with interest for 2 years
b) the future value of $250 at 2% interest for 3 years
c) the present value $250 to be paid in two years when the interest rate is 3%
c) the present value of $250 to be paid in three years when the interest rate is 2%
26. 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
27. Abby buys health insurance because she knows that she has health risks that wouldn't be obvoius 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 illustrate moral hazard.
d) illustrates moral hazard; the example with Brad illustrates adverse selection.
28. 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 Both are incorrect.
c) Only Alice is correct.
d) Only Beth is correct.
29. Which of the following concepts is most helpful in explaining why investment increases when the interest reate falls?
a) deadweight loss
b) present value
c) economic growth
d) financial intermediation
30. A risk-averse person
a) has a utility curve where the slope increases with wealth, and might takea bet with a 70 percent chance if winning $400 and a 30 percent chance if 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 percent 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 percent 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 percent chance of losing $400.