(完整版)英文版宏观经济学期末考试试卷(附答案)

1．In the United States real GDP is reported each quarter.

a. These numbers are adjusted to make them measure at annual and seasonally

adjusted rates.

b. These numbers are adjusted to make them annual rates, but no adjustment for

seasonal variations are made.

c. These numbers are quarterly rates that have been seasonally adjuste

d.

d. These numbers are at quarterly rates and have not been seasonally adjusted.

2．The price of CD players increases dramatically, causing a 1 percent increase in the CPI. The price increase will most likely cause the GDP deflator to increase by

a. more than 1 percent.

b. less than 1 percent.

c. 1 percent.

d. It is impossible to make an informed guess without more information.

3．If increases in the prices of U.S. medical care cause the CPI to increase by 2 percent, the GDP deflator will likely increase by

a. more than 2 percent.

b. 2 percent.

c. less than 2 percent.

d. All of the above are correct.

4．The traditional view of the production process is that capital is subject to

a. constant returns.

b. increasing returns.

c. diminishing returns.

d. diminishing returns for low levels of capital, and increasing returns for high

levels of capital.

5．Which of the following is correct?

a. Political instability can reduce foreign investment, reducing growth.

b. Gary's Becker proposal to pay mothers in developing countries to keep their

children in school has not worked very well in practice.

c. Policies designed to prevent imports from other countries generally increase

economic growth.

d. All of the above are correct.

6．Use the following table to answer the following question.

Assume that the closing price was also the average price at which each stock transaction took place. What was the total dollar volume of Gillette stock traded that day?

a. $912,840,000

b. $91,284,000

c. $9,128,400

d. $912,840

7．Suppose that in a closed economy GDP is equal to 10,000, taxes are equal to 2,500 Consumption equals 6,500 and Government expenditures equal 2,000. What are private saving, public saving, and national saving?

a. 1500, 1000, 500

b. 1000, 500, 1500

c. 500, 1500, 1000

d. None of the above are correct.

8．Risk-averse people will choose different asset portfolios than people who are not risk averse. Over a long period of time, we would expect that

a. every risk-averse person will earn a higher rate of return than every non-risk averse person.

b. every risk-averse person will earn a lower rate of return than every non-risk averse person.

c. the average risk-averse person will earn a higher rate of return than the average non-risk averse

person.

d. the average risk-averse person will earn a lower rate of return than the average non-risk averse person.

9．The natural rate of unemployment is the

a. unemployment rate that would prevail with zero inflation.

b. rate associated with the highest possible level of GDP.