課程名稱︰經濟學原理下
課程性質︰必修
課程教師︰魏凱立
開課學院：
開課系所︰
考試日期（年月日）︰2010/6/25
考試時限（分鐘）：0910~1130
是否需發放獎勵金：是
（如未明確表示，則不予發放）
試題 : (各題分數加註於後面括號)
1. One reason the aggregatedemand curve slopes down is: (4)
(a) Lower prices increase exports and decrease imports.
(b) Higer prices leadd to a smaller real income.
(c) Lower price cause smaller net capital outflows.
(d) More wealth increase interest rates.
2. If domestic demand for loanable funds increases, how should this affect
the value of the country's currency and its trade surplus? (4)
(a) The real exchange rate will increase & the trade surplus will fall.
(b) The real exchange rate will increase & the trade surplus will rise.
(c) The real exchange rate will decrease & the trade surplus will fall.
(d) The real exchange rate will decrease & the trade surplus will rise.
3. Which of the following would shift the short-run Phillips curve to the
right? (4)
(a) An increase in the money supply.
(b) An increase in unemployment insurance.
(c) A sudden decrease in the price of oil.
(d) An increase in the amount of inflation people expact.
4. If the purchasing power parity assumption is true, which one of the
following statements must be false? (4)
(a) Capital flight will lower the real exchange rate.
(b) If country A has more inflation than country B, country A's currency
will depreciate.
(c) The real price of a hambergur will be the same in all countries.
(d) The relative price of a country's exports and imports will not be
affected by monetary policy.
5. If the long-run aggregate suply curve shifts left and the price level
expectedby people in the eonomy increases, what will happen to short-run
aggregate supply? (4)
(a) It will not shift.
(b) It might shift left or right.
(c) It must shift to right.
(d) It must shift to left.
6. Under what conditions might net capital outflows (NCO) be greater than net
exports (NX)? (4)
(a) Whenever net exports are negative, NCO is greater than NX.
(b) Under no conditions can NCO be greater than NX.
(c) Only if the government does not allow imports will NCO > NX.
(d) Only if there is no international trade will NCO > NX.
7. Suppose the value of the NT dollar falls so that 40 NT dollars are needed
to buy a US dollar (instead of roughly 32 as is true now). How might an
economist explain this depreciation? (4)
(a) It could occur because the U.S. is experiencing capital flight.
(b) It could occur because the domestic demand for loanable funds in Taiwan
is increasing.
(c) It could occur because the Taiwan government is increasing the supply
of NT dollars.
(d) It could occur because the Taiwan government is imposing protectionist
tariffs on import.
8. Under what condition might a country's real exchange rate appreciate while
its nominal exchange rate depreciates? (4)
(a) This could occur if the country had a relative high rate of inflation.
(b) This could occur if the country had a relative high rate of deflation.
(c) Under no conditions could this occur.
(d) This occurs only when the purchasing power parity assumption (PPP) is
true.
9. Which component of GDP is most affected by recessions? (4)
(a) consumption
(b) investment
(c) government
(d) employment
10. Draw a Phillips curve and show what will happen if there is an unexpacted
fall in the inflation rate. (4)
11. State one arguement for and one arguement against taxing savings. (2+2)
12. Assume purchasing power parity is true. Suppose a DVD cost US$30 in the
United States and 3150 yen in Japan. What is the yen's nominal exchange
rate? (4)
13. State one reason the purchasing power parity assumption is often not true.
(4)
14. Give a simple example of an expansionary fiscal policy meant to stimulate
the economy. (2) Give a simple example of an expansionary monetary policy
meant to stimulate the economy. (2)
15. Suppose the government increases spending by $5 billion without raising
taxes. Furthermore suppose the economy is not really in a bad recession so
that every $100 of the government borrowing crouds out $95 of private
investment. The marginal propensity to consume is 0.9. How much will the
economy be stimulated by increase government spending. (4)
16. Suppose the central bank creates enough new money to raise the price level
from 100 to 110. This is exactly what people expact the central bank to do.
the economy began with a 5% unemployment rate which was the natural rate
of unemployment. Given this new policy, what will happen to the
unemployment rate? (2) If the government had surprised people by keeping
theprice level constant at 100, what would have happend to the
unemployment rate? (2)
17. Draw the 3-diagram open economy model (the loanable funds market, net
capital outflow and the market of foreign currency exchange) to show what
would happen to Taiwan if a crisis in China caused a massive net capital
inflow back into Taiwan. (6) How would this affect Taiwan's trade surplus?
(2)
18. Give one reason why short-run aggregate supply curve slopes up. (4)
19. Suppose Y=100, G=20, C=60, I=25 and M (imports) =20. How much are net
capital outflows (NCO)? (2) How much is being exported? (2)
20. How does unemployment insurance act as an automatic stabilizer? (4)
21. State one reason most economists think deflation is more harful than
inflation. (4)
22. What long-term effect does inflation have on the nominal interest rate?(4)
23. If one graphs the relationship between Taiwan's inflation rate and its
unemployment rate, the relationship between the to predicted by the
Phillips curve is not very obvious. Give one possible reason why this
might be. (4)
24. Schumpeter (a famous economist) introduced the concept of "creative
destruction" to argue that recessions could be good for an economy. Why
did he think recessions could be good? (4)
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