課程名稱︰經濟學二
課程性質︰A5通識
課程教師︰陳虹如
開課學院：社會科學院
開課系所︰經濟學系
考試日期（年月日）︰2013/12/20
考試時限（分鐘）：50分鐘
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
Principle of Macroeconomics
Quiz 2
(5 points total)
1. While cleaning your apartment, you look under the sofa cushion and find a
$50 bill. You deposit the bill in your checking account. The Fed's reserve
requirement is 20% of deposits. (1pt)
a. What is the maximum amount that the money supply could increase?
b. What is the minimum amount that the money supply could increase?
2. Assume that the banking system has total reserves of $100 billion. Assume
also that required reserves are 10% of checking deposits and that banks
hold no excess reserves and households hold no currency. (0.8pts)
a. What is the money multiplier? What is the money supply?
b. If the Fed now raises required reserves to 20% of deposits, what are
the changes in reserves and in the money supply?
3. Suppose that this year's money supply is $500 billion, nominal GDP is $10
trillion, and real GDP is $5 trillion. (1.2pts)
a. What is the price level? What is the velocity of money?
b. Suppose that velocity is constant and the economy's output of goods and
services rises by 5% each year. What will happen to nominal GDP and the
price level next year if the Fed keeps the money supply constant?
c. What money supply should the Fed set next year if it wants to keep the
price level stable?
d. What money supply should the Fed set next year if it wants inflation of
10% ?
4. If the tax rate is 40%, compute the before-tax real interest rate and the
after-tax real interest rate in each of the following cases. (1.2pts)
a. The nominal interest rate is 10%, and the inflation rate is 5%.
b. The nominal interest rate is 6% , and the inflation rate is 2%.
c. The nominal interest rate is 4% , and the inflation rate is 1%.
5. What is happening to the U.S. real exchange rate in each of the following
situations? Explain. (0.8pts)
a. The U.S. nominal exchange rate is unchanged, but prices rise faster in
the U.S. than abroad.
b. The U.S. nominal exchange rate is unchanged, but prices rise faster
abroad than in the U.S.
c. The U.S. nominal exchange rate declines, and prices are unchanged in
the U.S. and abroad.
d. The U.S. nominal exchange rate declines, and prices rise faster abroad
than in the U.S.
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