宏观经济学期末考试试卷(附答案)

一、[请单击此处编辑题目] (每小题分，共

分)

一、选择题(本题包含30小题，每题？分，共？分)

1．Real GDP

a. evaluates current production at current prices.

b. evaluates current production at the prices that prevailed in some specific year in

the past.

c. is not a valid measure of the economy's performance, since prices change from year

to year.

d. is a measure of the value of goods only, hence, it excludes the value of services.

2．The steps involved in calculating the consumer price index include, in order:

a. choose a base year, fix the basket, compute the inflation rate, compute the basket's

cost, and compute the index.

b. choose a base year, find the prices, fix the basket, compute the basket's cost, and

compute the index.

c. fix the basket, find the prices, compute the basket's cost, choose a base year and

compute the index.

d. fix the basket, find the prices, compute the inflation rate, choose a base year and

compute the index.

3．Suppose the price of a quart of milk rises from $1 to $1.25 and the price of a T-shirt rises from $8 to $10. If the CPI rises from 150 to 175 people will likely buy

a. more milk and more T-shirts.

b. more milk and fewer T-shirts.

c. less milk and more T-shirts.

d. less milk and fewer T-shirts.

4．Which of the following is correct?

a. Countries with the highest growth rates over the last 100 years are the ones that

had the highest level of real GDP 100 years ago.

b. Most countries have had little fluctuation around their average growth rates

during the past 100 years.

c. The ranking of countries by income changes substantially over time.

d. Over the last 100 years, Japan had the highest real GDP growth rate, and now has the highest real GDP

per person.

5．Using the production function and notation in the text, K/L measures

a. natural resources per worker.

b. human capital per worker.

c. output per worker.

d. physical capital per worker.

6．Index funds

a. typically have about the same rate of return as more actively managed funds.

b. typically have lower rates of return than more actively managed funds.

c. contain the stocks and bonds from a single Standard Index Classification of industry.

d. typically have higher rates of return than more actively managed funds.

7．In a closed economy, national saving equals

a. investment.

b. income minus the sum of consumption and government expenditures.

c. private saving plus public saving.

d. All of the above are correct.

8．At which interest rate is the present value of $162.24 two years from today equal to $150 today?

a. 4 percent

b. 5 percent

c. 6 percent

d. None of the above are correct to the nearest penny.

9．Which of the following is incorrect?

a. Frictional unemployment is inevitable in a dynamic economy.

b. Although the unemployment created by sectoral shifts is unfortunate, in the long run such changes lead

to higher productivity and higher living standards.

c. At least 10 percent of U.S. manufacturing jobs are destroyed every year.

d. In a typical month more than 5 percent of workers leave their jobs.

10．Use the balance sheet for the following question.