宏观期中考试样卷答案

华中农业大学本科课程期中考试样卷答案

考试课程与试卷类型：宏观经济学A 姓名：

学年学期：学号：

考试时间：班级：

Part I Multiple Choice (1.5*20=30)

Directions: You need to read the four choices marked a), b),c) and d),and decide which is the best answer. Then write down the corresponding letter on the Answer Sheet.

1.Statistics such as GDP, the unemployment rate, the rate of inflation, and the trade

balance are

a. microeconomic, since they affect individual households and firms.

b. macroeconomic, since they tell us something about the economy as a whole.

c. both microeconomic and macroeconomic.

d. neither macroeconomic nor microeconomic, but properly in the realm of political

science.

ANSWER: b. macroeconomic, since they tell us something about the economy as a whole.

2.The best single measure of the economic well-being of a society is believed to be

a. the stock market index.

b. consumption expenditures.

c. life expectancy.

d. Gross Domestic Product.

ANSWER: d. Gross Domestic Product.

3.National income is defined as

a. all income produced within a country.

b. the total income earned by a nation’s residents in the production of goods and

services.

c. the total income earned by a nation’s residents from the production of goods and

services within the borders of the country.

d. the income received by the national government.

ANSWER: b. the total income earned by a nation’s residents in the production of goods and services.

4.Suppose than in 2012, the producer price index increases by 7 percent. As a result,

economists most likely will predict that

a. GDP will increase by 7 percent in the next year.

b. the consumer price index will increase by 7 percent in the next year.

c. the exchange rate will increase in the future.

d. the consumer price index will increase in the futur

e.

ANSWER: d. the consumer price index will increase in the future.

5.The GDP deflator

a. is the ratio of nominal GDP to real GDP.

b. is the ratio of nominal GDP to real GDP multiplied by 100.

c. is the ratio of real GDP to nominal GDP.

d. is the ratio of real GDP to nominal GDP multiplied by 100.

ANSWER: b. is the ratio of nominal GDP to real GDP multiplied by 100.

6.For any given year, the CPI is

a. the price of the basket of goods and services in the base year divided by the price

of the basket in the given year, then divided by 100.

b. higher than the previous year.

c. the price of the basket of goods and services in the base year divided by the price

of the basket in the given year, then multiplied by 100.

d. the price of the basket of goods and services in the given year divided by the price

of the basket in the base year, then multiplied by 100.

ANSWER: d. the price of the basket of goods and services in the given year divided by the price of the basket in the base year, then multiplied by 100.

7.If the price index in the first year was 90, in the second year was 100, and in the third

year was 95,

a. the economy experienced 10 percent inflation between the first and second years

and 5 percent inflation between the second and third years.

b. the economy experienced 10 percent inflation between the first and second years

and 5 percent deflation between the second and third years.

c. the economy experienced 11 percent inflation between the first and second years

and 5 percent inflation between the second and third years.

d. the economy experienced 11 percent inflation between the first and second years

and 5 percent deflation between the second and third years.

ANSWER: d. the economy experienced 11 percent inflation between the first and second years and 5 percent deflation between the second and third years.

8.Technological knowledge refers to

a. the knowledge and skills that workers acquire through education, training, and

experience.

b. the stock of equipment and structures that are used to produce goods and services.

c. the understanding of the best ways to produce goods and services.

d. All of the above are correct.

ANSWER: c. the understanding of the best ways to produce goods and services.