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課程名稱︰經濟學原理與實習二
課程性質︰經濟系必修兼通識
課程教師︰陳南光
開課學院：社會科學院
開課系所︰經濟系
考試日期（年月日）︰2008.4.18
考試時限（分鐘）：140分鐘
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
一、單選題(45%,3% each)
1. The term "derived demand" refers to
a) the demand for a factor of production that is derived from the demand for
the good the factor produces.
b) a demand curve that derives from the availability of resources.
c) the demand for finacial products called derivatives.
d) a firm's estimated demand curved derived from historical sales data.
2. When deciding how many workers to hire, a firm compares
a) total revenue recieved to total cost incurred from production.
b) the additional profit earned from hiring that worker to the additional
cost of hiring that worker.
c) labor's marginal product and its average product.
d) the additional revenue earned from hiring that worker to the additional
cost of hiring that worker.
3. The subsitution effect of a wage increase _____ the opportunity cost of
leisure and causes a worker to devote _____ time to labor and _____ time to
leisure.
a) raises; less; less c)raises; more; more
b) raises; more; less d)lowers; less; more
4. Suppose your grandfather earned a salary of $12,000 in 1961. If the CPI is
30 in 1961 and 196 in 2005, then the value of your gramdfather's salary in
2005 dollars equals
a) $78,400 b) $62,500 c) $23,520 d) $40,000
5. The consumer price index implicitly assumes that the demand curve for each
good and service in the represensitive market basket is
a) vertical. b) negatively sloped.
c) horizontal. d) positively sloped.
6. If an economy is growing at a rate of 2% per year, how long will it take the
economy to double in size?
a) 42 years b) 59 years c) 35 years d) 27 years
7. In the year 2001, Pete Rich purchases a painting done by Rembrandt in 1642
for $20 million. He also pays a 1% commission to the auction house that sold
the painting. What is the contribution pf this transaction to GDP in the
year 2001?
a) $0 b) $200,000 c) $2 million d) $20 million e) $20.2 million
8. If a pizza maker pays $1 for tomatoes, $1 for cheese, $2 for sausage, and
sells the pizza made with these ingredients for $7, then each pizza sold
contributes how much to GDP?
a) $3 b) $4 c) $7 d) $9 e) $11
9. An economy produces only 100 computers valued at $20,000 each. Of these 50
are sold to consumers, 20 are soled to businesses, 10 are sold to the
government, and 10 are sold abroad. No computers are imported. The unsold
computers at the end of the year are held in inventory by the computer
manufacturers. What is value of the investment component of GDP?
a) $800,000 b) $600,000 c) $500,000 d) $300,000 e) $100,000
10.The money supply in Macroland is currently 2,500. Suppose banks do not hold
excess reserves and the public does not hold cash. The required reserve
ratio is 10%. If the Central Bank of Macroland wishes to inccrease the money
supply to 3,000, then it should conduct an open-market _____ government
bonds.
a) purchase of 50 b) purchase of 250 c) purchase of 500
d) sale of 50 e) sale of 500
11.Suppose the one-year time deposit at the First Bank is 7%, and the current
expected inflation rate is 3%. Then
a) the nominal interest rate is 10%.
b) the realized interes rate is 4%.
c) the real interest rate is 4%.
d) the nominal interest rate is 4%.
12.When the stock market booms, some people transfer their time deposits into
demand deposits. What will happen to the money aggregates?
a) M1B decreases b) M1B remains the same c) M2 increases
d) M2 remains the same e) M1B and M2 nothe remain the same
13.Which policy action by the central bank will reduce M1B?
a) reduces the re-discount rate. c) sells off foreign exchanges.
b) issues more NCDs. d) reduces the required reserve ratio.
14.Government subsidies in response to natural disasters are included in
a) GDP. b) GNP. c) Government purchases. d) disposable incomes.
15.Which of the followings is included in GDP of Taiwan?
a) Professor Chen receives dividends NT$100,000 from holding Microsoft's
stocks.
b) Professor Chen makes a profit NT$100,000 by sell off his holding Asus's
stocks.
c) A foreign worker from Thailand makes NT$15,000 each month.
d) A Taiwanese works in the US making US$3,000 each month.
二、是非不定題：先根據題意回答Yes、No或Maybe，並加以解釋你的答案。不解釋不給分
(16%, 4% each)
1. During the typhoon season in July and August, prices of vegetables are
higher and thus CPI tends to under-estimate the cost of living.
2. Suppose a typical consumer consumes only two goods. In 2001, the quantities
consumes are 10 and 15 for the two goods, with prices 3 and 4 respectively.
In 2003, the quantities consumed are 12 and 16, with prices 4 and 5
respectively. If the year 2001 is taken as the base year, the CPI of 2003 is
142.2%.
3. Suppose many depositers worry that their banks are not safe and thus they
withdraw their deposits and carry with them in their pockets. Therefore,
there will be more money in the market and the monetary aggregates will
rise.
4. The current exchange rate is NTD$30 for USD$1. According to Purchasing Power
Parity (PPP), if a BigMac is sold in Taiwan for NTD$80 and sold in US for
USD$3, then the real exchange rate of NTD is over-estimated.
三、簡答計算題(40%, 4% each)
1. The base year for computing CPI in Taiwan is changed every 5 yaers. What
biases will occur to the cost of living during these 5 years?
2. Explain who gains and who loses in a lending-borrowing contract when there
is an unexpected deflation.
3. The Gini coefficient in Taiwan was 0.28 in 1980 and 0.35 in 2000. Draw these
corresponding Lorenz curves and explain what they mean.
4. We know that GDP cannot accurately measure the welfare for a country. But
then why do economists continue to use it?
5. Explain why the scale of underground economy is related to business cycle.
6. Briefly explain how the increase of female participating in labor market
affects the calculation of GDP.
7. Use a graph to explain why two workers in different countries haing the same
technology level are paid very different.
8. Consider the following demand for real money balance for an economy
M/P=A(Y/i), where i is nominal interest rate, P is the price level, Y is real
GDP, A=0.5 is a constant. Suppose in the past, the economy's real GDP growth
rate is 4%, money supply (M1B) growth rate is 7%, and nominal interest rate
is 3%. If the nominal interest rate is constant, what is the inflation rate?
And what is the real rate of interest?
9. Use a graph to explain why a superstar can make an enormous amount of
profit.
10.Suppose Macroland's aggregate production function is Y=AK^βL^(1-β), β=0.5.
Suppose from 1980 to 2007, the labor hours increased from 20 million to 24
million hours, capital accumlated from 10 billion to 15 billion, and GDP
grew from 50 billion to 65 billion. Did Macroland's technology level
increased or decreased?
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