課程名稱︰經濟學二
課程性質︰通識
課程教師︰李顯峰
開課學院：社科院
開課系所︰經濟系
考試日期（年月日）︰2013.5.1
考試時限（分鐘）：150 min
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 :
I.選擇題(每題 2 分，計 80 分) Select the best answer (each gets 2%, 80%)
1. In the above figure, flow B represents households________.
(A) income
(B) consumption expenditures
(C) saving
(D) investment
2. In the above figure, household income is shown by flow
(A) A (B) B (C) C (D) F
3. If the objective were to measure economic welfare, then what adjustments
would have to made to GDP to make it a better measure of economic welfare?
(a) Household production would need to be included.
(b) The amount of leisure time that households have would need to be
included.
(c) The effect of pollution on the environment would need to be included.
(d) All of the above adjustments would need to be made.
4. Gross domestic product
(A) includes all the goods and none of the services produced in an economy
in a given time period.
(B) measures the value of the aggregate production of goods and services in
a country during a given time period.
(C) measures the value of labor payments generated in an economy in a given
time period.
(D) is generally less than federal expenditure in any time period.
5. In a simple economy, suppose that all income is either compensation of
employees or profits. Suppose also that there are no indirect taxes.
Calculate gross domestic product from the following set of numbers. Derive
the answer both by the Expenditure Approach (EA), i.e. the components of
GDP, and the National-income Approach (NA).
Consumption $ 5,000
Investment $ 1,000
Depreciation $ 600
Profits $ 900
Exports $ 500
Compensation of employees $ 5,300
Government purchases $ 1,000
Direct taxes $ 800
Saving $ 1,100
Imports $ 700
(a) EA: $6800 NA: $6200 (b) EA: $6800 NA: $6800
(c) EA: $7000 NA: $5800 (d) EA: $6200 NA: $6200
6. Whether the following transactions would be counted in GDP?
(i) General Motors issues new shares of stock
(ii) General Motors builds a new plant
(iii) You buy a used copy of this textbook.
(iv) The government pays out Social Security benefits
(a) NO ; YES ; NO ; NO (b) YES ; YES ; NO ; NO
(c) NO ; YES ; YES ; NO (d) YES ; YES ; NO ; YES
7. The following table gives some figures from a forecast of real GDP (in
2005 Dollars). According to the forecast, approximately how much real
growth will there be between 2010 and 2011?
Real GDP 2010 (billions) $13,400
Real GDP 2011 (billions) $13,800
(a)3.56% (b)2.45% (c)2.99% (d)4.55%
8. Compute the GDP deflator in 2013
2012(base yr) 2013
Price Quantity Price Quantity
Good A 10 15 15 20
Good B 8 10 10 5
(a)2.5 (b)0.45 (c)1.52 (d)1.46
9. Consider the following data on a particular country’s GDP: Derive Real
GDP growth rate
Nominal GDP GDP deflator
2013 200 160
2012 180 150
(a)4.1% (b)3.2% (c)5.9% (d)2.6%
10. Evaluate the following statement: Even if the prices of a large number of
goods and services in the economy increase dramatically, the real GDP for
the economy can still fall.
(a) Incorrect because real GDP should move in the same direction of price
level
(b) Incorrect because it is impossible for an economy to experience
hyperinflation
(c) Correct because the counting method of real GDP is nothing to do with
price level
(d) Correct because it may experience a decline in the physical quantity
11. Which of the following contributes to economic growth?
(a) Increases in labor productivity
(b) Capital accumulation
(c) Technological improvements
(d) All of the above contribute to economic growth.
12. Which of the following people would be considered unemployed?
(a) A part-time worker who wishes to work full time
(b) A person who gave up looking for jobs because he or she was discouraged
about his or her job prospects
(c) A person who is working but expects to be laid off at the end of the
month
(d) A person who has been searching for work, but turns down a job paying a
lower wage rate than desired
13. During a recession, people drop out of the labor force because they are
unable to find a job. All else the same, this
(a) Increases the unemployment rate
(b) Decreases the unemployment rate
(c) Does not change the unemployment rate
(d) Increases the unemployment rate and the labor force participation rate
14. Which of the following situations best describes an individual who is
cyclically unemployed?
(a) Nicholas was laid-off when orders for General Motors cars fell during a
recession
(b) Susan quit her job as a preschool teacher to try to find a better paying
job
(c) Matthew was an artillery man, but he has been unable to find work since
he left the army
(d) Catherine is a ski instructor who is not working because it is summer
15. The natural unemployment rate
(a) Falls with an increase in cyclical unemployment
(b) Rises with an increase in cyclical unemployment
(c) Rises with an increase in structural unemployment
(d) Rises with a decrease in frictional unemployment
16. Which of the following statements about Cyclical Unemployment and the
Natural Rate is incorrect?
(a) Cyclical unemployment occurs when technology improvements change job
requirements
(b) Natural rate of unemployment is the normal rate of unemployment around
which the actual unemployment rate fluctuates
(c) Cyclical unemployment fluctuates over the business cycle
(d) Even when the economy is doing well, there is always some unemployment
like frictional unemployment and structural unemployment
17. Which of the following statements about Unemployment Insurance is
incorrect?
(a) Is a govt program that partially protects workers’ incomes when they
become unemployed
(b) Increases structural unemployment
(c) Reduces uncertainty over incomes
(d) Gives the unemployed more time to search
18. Which of the following would be most likely to reduce structural
unemployment?
(a) Sectoral shifts become more frequent
(b) The govt increases unemployment insurance benefits
(c) The govt eliminates the minimum wage
(d) More workers post their resumes at Monster.com, and more employers use
Monster.com to find suitable workers to hire
19. The consumer price index (CPI) is a fixed-weight index. It compares the
price of a fixed bundle of goods in one year with the price of the same
bundle of goods in some base year. Calculate the price of a bundle
containing 100 units of good X, 150 units of good Y, and 25 units of
good Z in 2008, 2009, and 2010. Convert the results into an index by
dividing each bundle price figure by the bundle price in 2008. Calculate
the percentage change in your index between 2008 and 2009 and again
between 2009 and 2010. What were the inflation rates of 2009 and 2010.
Good Quantity Consumed 2008 Price 2009 Price 2010 Price
X 100 1 1.5 1.75
Y 150 1.5 2 2
Z 25 3 3.25 3
(a)29.6% ; 6.34% (b)3.57% ; 23.42% (c)32.8% ; 3.54% (d)12.32% ; 3.45%
20. Suppose that HTC raises the price of its Butterfly, produced in Taiwan,
it sells in the U.S. Determine the effects on the CPI and the GDP
deflator for the U.S.
(a) rises ; keeps the same
(b)keeps the same ; rises
(c)both rises
(d)both keep the same
21. Which of following statement is incorrect?
(a) CPI uses fixed basket
(b) GDP deflator uses basket of currently produced goods and services
(c) Capital goods are included in GDP deflator
(d) Imported consumer goods are excluded from GDP deflator
22. Which of following statement is incorrect?
(a) The nominal interest rate is the interest rate corrected for inflation
(b) The nominal interest rate is the rate of growth in the dollar value of
a deposit or debt
(c) The real interest rate is corrected for inflation
(d) The real interest rate is the rate of growth in the purchasing power
of a deposit or debt
23. Suppose that the nominal interest rate is 3% and the inflation is 2.6%.
What is the real interest rate? How about the purchasing power?
(a) -0.4% ; decreases (b) 0.4% ; increases (c) 5.6% ; increases
(d) 0.4% ; decreases
24. Which of the following circumstances will not have problems in the
construction of the CPI
(a) Increased personal computer purchases in response to a decline in their
price
(b) Greater use of fuel-efficient cars after gasoline prices increase
(c) A decline in gasoline produced
(d) The invention of the Sony Walkman
25. Suppose that a borrower and a lender agree on the nominal interest rate
to be paid on a loan. Then inflation turns out to be higher than they both
expected. Does the lender gain or lose from this unexpectedly high
inflation? Is the real interest rate on this loan higher or lower than
expected?
(a)Gain ; higher (b)Gain ; Lower (c)Lose ; Higher (d)Lose ; Lower
26. Which of the following statements is incorrect?
(a) Physical capital is the stock of equipment and structures used to
produce goods
(b) Human capital refers to the knowledge and skills workers acquire
through education, training, and experience
(c) A faster computer indicates technological progress
(d) Human capital results from the effort people expend to acquire this
knowledge
27. Recall that in economic theory, a multiplier is the ratio of the change
in the equilibrium level of output to a change in some exogenous variable. Now
consider a simple economy without export and import.
C = 100 + 0.8Yd Y = C + I + G
I = 500 Yd = Y - T
G = 800 T = 50 + 0.25Y
Which of the following statements are correct?
I. The equilibrium is 3400
II. The Balanced-Budget Multiplier is 2
III. The Gov’t Spending Multiplier is 2.5
IV. The Gov’t Spending Multiplier is 2
(a) I and III
(b) II and III
(c) I, II and IV
(d) I and IV
28. Suppose GDP equals $10 trillion, consumption equals $6.5 trillion, the
government spends $2 trillion and has a budget deficit of $300 billion.
Find private saving and investment.
(a) 3.5 ; 1.8 (b) 1.8 ; 3.5
(c) 1.8 ; 1.5 (d) 3.5 ; 1.5
29. You are given the following data concerning Freedonia, a legendary country:
C = 200 + 0.8Y
I = 100
AE = C + I
AE = Y
Which of the following statements are correct?
I. The marginal propensity to save is 0.8
II. The equilibrium income is 1500
III. If I is increased by 10, from 100 to 110, the new equilibrium income
is 1550
IV. If I is increased by 10, from 100 to 110, S ≠ Y.
(a) I and III
(b) II and III
(c) I, II and IV
(d) I and IV
30. Use the above graph to evaluate which of the following statements are
correct.
I. The marginal propensity to save is 0.25
II. The value of the multiplier is 4
III.The equilibrium is 900
IV. The marginal propensity to consume is 0.75
(a) I and III
(b) II and III
(c) All of them are correct
(d) I and IV
31. Which of the following scenarios is not considered as investment by an
economist
(a) General Motors spends $250 million to build a new factory in Flint,
Michigan.
(b) You buy $5000 worth of computer equipment for your business.
(c) Buy shares of a mutual fund
(d) Your parents spend $300,000 to have a new house built.
32. Expert economists in the economy of Yuk estimate the following
Real output / income $1,000
Government purchases $200
Total net taxes $200
Investment spending (Planned) $100
Which of the following statements are correct?
I. If the investment is constant, it is highly possible that the economy
will shrink down 10
II. If the investment is constant, it is highly possible that the economy
will soar up
III. If no changes were made, the economy’s consumption (C) will settle at
200
IV. If no changes were made, the economy’s GDP () will settle at 600
(a) I and III
(b) II and III
(c) III and IV
(d) I and IV
33. Which of the following statements are correct?
I. Money serves as a medium of exchange: It provides the item used to make
transactions
II. Fiat money is money that has intrinsic value
III.The Fed can change the money supply by the purchase of government bonds
IV. When banks loan out some of their deposit, the money supply does not
change since the Fed did not print any new money
(a) I and III
(b) II and III
(c) I, II and IV
(d) I, III and IV
34. Which of the following statements are correct?
I. Compared to M2, the composition of M1 includes more items
II. The Fed establishes reserve requirements, regulations on the minimum
amount of reserves that banks must hold against deposits
III. Banks may create money by making loans
IV. Banks can create money even if they don’t have excess reserves
(a) I and III
(b) II and III
(c) I, II and IV
(d) I, III and IV
35. In the Republic of Ragu, the currency is the rag. During 2009, the
Treasury of Ragu sold bonds to finance the Ragu budget deficit. In all,
the Treasury sold 50,000 10-year bonds with a face value of 100 rags each.
The total deficit was 5 million rags. Further, assume that the Ragu Central
Bank reserve requirement was 20% and that in the same year, the bank bought
500,000 rags’ worth of 11 outstanding bonds on the open market. Finally,
assume that all of the Ragu debt is held by either the private sector (the
public) or the central bank. Which of the following statements are correct?
I. The combined effect of the Treasury sale and the central bank purchase
on the total Ragu debt outstanding will cause the debt increases by 5
million rags in total
II. The Treasury sale causes the money supply to grow in Ragu
III. The Treasury sale has no effect on the money supply in Ragu
IV. The money supply would increase if the central bank purchases bonds
(a) I and III
(b) II and IV
(c) I, II and IV
(d) I, III and IV
36. Suppose the U.S. money supply (M1) at the beginning of 2000 was $1148
billion broken down as follows: $523 billion in currency, $8 billion in
traveler’s checks, and $616 billion in checking deposits. Suppose the
Fed decided to reduce the money supply by increasing the reserve
requirement from 10 percent to 11 percent. Assuming all banks were
initially loaned up (had no excess reserves) and currency held outside
of banks did not change, how large a change in the money supply would
have resulted from the change in the reserve requirement?
(a) decrease by $114.8 billion (b) decrease by $104 billion
(c) increase by $114.8 billion (d)increase by $104 billion
37. You are given this account for a bank
Assets Liabilities
Reserves $500 Deposits $3,500
Loans $3,000
The required reserve ratio is 10 percent. Which of the following statements
are correct?
I. Given its deposits of $ 3500, the bank required to hold as reserves is
$350
II. Its excess reserves is $150
III. The bank can lend out an additional $150
(a) I
(b) II and III
(c) I and II
(d) I, II and III
38. Suppose that you deposit $100 in your checking account. The Fed’s reserve
requirement is 20% of deposits. What is the maximum amount that the money
supply could increase? And what is the minimum amount that the money supply
could increase?
(a) $400 ; $100
(b) $100 ; $100
(c) $500 ; $0
(d) $400 ; $0
39. Which of the following statements about money market is correct?
(a) An increase in the interest rate reduces the quantity of money
demanded. This is shown as a movement along the money-demand curve.
An increase in the price level shifts money demand to the right
(b) An increase in the interest rate increases the quantity of money
demanded. This is shown as a movement along the money-supply curve.
An increase in the interest rate shifts money demand leftward
(c) An increase in the price level reduces the quantity of money demanded.
This is shown as a movement along the money-supply curve. An increase
in the interest rate shifts money demand rightward
(d) An increase in the price level increases the quantity of money
demanded. This is shown as a movement along the money-demand curve.
An increase in the rate shifts money demand leftward.
40. Which of the following statements is incorrect?
(a) Interest can be seen as the fee that borrowers pay to lenders for the
use of 13 their funds
(b) Because the market price of interest-bearing bonds is inversely related
to the interest rate, investors may want to hold bonds when interest
rates are high with the hope of selling them when interest rates fall
(c) A central bank can buy bonds from the markets to increase the money
supply and the interest rate
(d) A change of interest rate will shift the money demand curve in the
money market.
II Problems (20%) 需附計算及推理過程，否則即使答案對，亦不予計分。
1.(15%)
The Keynesian macroeconomic model of Happyland Country is as following:
Assume no foreign trade sector and the general price level is constant.
Private consumption C = 1000 + 0.75 Yd, private gross investment I = 1200,
Government gross investment and consumption G = 1000,
Income tax T = 600 + 0.2Y,
where Y is the real GDP, and Yd is the real disposable income.
Finds:
(a) the multiplier of private gross investment ⊿Y/⊿I, and the multiplier of
Government gross investment and consumption⊿Y/⊿G. (8%)
(b) Suppose the real GDP level under full employment is Yf = 7,625, to what
level should increase or decrease in the government gross investment and
consumption to reach the Yf level? (7%)
2.(5%)Illustrate each of the following situations with IS-LM curves, i.e.,
the horizontal axis is income or aggregate output level Y, and the vertical
axis is interest rate r. What would increase or decrease in the interest rate
and aggregate output, respectively?
(a) An decrease in G and an increase in T while the Central Bank expands the
money supply, (2.5%)
(b) An increase in G and T while the Central Bank holds the money supply
constant during a period of inflation. (2.5%)
[提示: 繪 IS-LM 圖形很簡要說明]
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Answer:
01.~05. B. A. D. B. B. 06.~10. A. C. D. A. D.
11.~15. D. D. B. A. C. 16.~20. A. B. C. C. C.
21.~25. D. AC. D. C. D. 26.~30. ABCD. A. C. B. C.
31.~35. C. D. A. B. D. 36.~40. B. D. D. A. CD.
(有多題更正為多個答案，變相送了不少分)
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