課程名稱︰經濟學二
課程性質︰通識A5
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）︰2017/12/11
考試時限（分鐘）：50
試題 :
(100 points total; 50 mins)
● Please write your answer on the answer sheet.
● Write your name(1%) and student ID(1%) and 系級(1%) as well.
● You can use pencil or pen in black or blue.
● You can leave after you hand in answer sheet.
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1. How would the following transactions affect the U.S. net capital outflow?
State whether each involves direct investment or portfolio investment?
a) (5%) Honda expands its factory in Marysville, Ohio.
b) (8%) Harrods of London sells stock to the General Electric pension fund.
2. Suppose that this year's money supply is $500 billion, nominal GDP is $10
trillion, and real GDP is $5 trillion.
a) (8%) What is the price level? What is the velocity of money?
b) (8%) Suppose that velocity is constant and the economy's output of
goods and services rises by 5 percent each year. What will happen to
nominal GDP and the price level next year if the Fed keeps the money
supply constant?
c) (8%) 承(b)題, what money supply should the Fed set next year if it
wants inflation of 10 percent?
3. Suppose that changes in bank regulations expand the availability of credit
cards so that people need to hold less cash.
a) (10%) How does this event affect the demand for money?
b) (10%) If the Fed does not respond to this event, what will happen to
the price level? (要畫圖解釋)
c) (10%) If the Fed wants to keep the price level stable, what should it
do? (要畫圖解釋)
4. (15%) Assume that the reserve requirement is 5 percent. All other things
being equal, will the money supply expand more if the Fed buys $2,000
worth of bonds or if someone deposits in a bank $2,000 that she had been
hiding in her cookie jar? If one creates more, how much more does it
create? Explain. (3個答案：① Fed ② someone ③ 比大小)
5. (15%) The economy of Elmo contains 2,000 $1 bills. If people hold equal
amounts of currency and demand deposits and banks remain a reserve ratio
of 10 percent, what is the quantity of money?
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