经济学：世界经济分析(一)及答案解析.doc

1、经济学：世界经济分析(一)及答案解析(总分：41.00，做题时间：90 分钟)一、B单项选择题/B(总题数：41，分数：41.00)1.Which of the following is the most accurate definition of the velocity of money? The velocity of money is the: A. GDP of a country divided by its price level. B. money supply of a country divided by its price level. C. GDP of a coun

2、try divided by its money supply.（分数：1.00）A.B.C.D.2.If the money interest rate is measured on the y-axis and the quantity of money is measured on the x-axis, the money supply curve is: A. horizontal. B. upward sloping to the upper right. C. vertical.（分数：1.00）A.B.C.D.3.The demand for money curve repre

3、sents the relationship between the quantity of money demanded and: A. the quantity of money supplied. B. short-term interest rates. C. the price level.（分数：1.00）A.B.C.D.4.When an economy dips into a recession, automatic stabilizers will tend to alter government spending and taxation so as to: A. redu

4、ce the budget deficit (or increase the surplus). B. enlarge the budget deficit (or reduce the surplus). C. ensure that the budget will remain in balance.（分数：1.00）A.B.C.D.5.Which one of the following is NOT a major prediction of the effects of monetary policy? A. The inflation rate and money interest

5、 rates are directly related. B. Inflation will remit from the rapid and persistent growth of the money supper. C. There is a strict relationship between shifts in monetary policy and changes in output and prices.（分数：1.00）A.B.C.D.6.If a central bank wants to implement expansionary monetary policy, ho

6、w would the central bank use the following monetary tools? Reserve Requirements Open Market Operations Discount Rate A. Lower Buy additional government securities Lower B. Lower Sell previous purchased government securities Raise C. Raise Sell previous purchased government securities Raise A. B. C.

7、（分数：1.00）A.B.C.D.7.A recession is defined as a period during which real gross domestic product (GDP) declines for: A. one or more successive quarters. B. two or more successive quarters. C. three or more successive quarters.（分数：1.00）A.B.C.D.8.ff the economy is just beginning to come out of a recessi

8、on, which of the following would represent a typical sequence of phases in the business cycle? A. Expansion, business peak, contraction, recessionary trough. B. Expansion, business peak, recessionary trough, contraction. C. Depression, expansion, business peak, contraction.（分数：1.00）A.B.C.D.9.Analysi

9、s using the AS-AD model suggests that if expected inflation equals actual inflation: A. unemployment will rise. B. unemployment will fall. C. the economy will remain at full-employment GDP.（分数：1.00）A.B.C.D.10.Which of the following is not an effect of restrictive monetary policy? A. higher real inte

10、rest rates. B. lower real output. C. higher employment.（分数：1.00）A.B.C.D.11.An analyst gathers the following information about Monument State Bank:Demand deposits $ 400 million.Loans and securities $ 260 million.Reserve requirement 10%.The bank has a total of $ 50 million in cash and deposits with th

11、e Federal Reserve.Monument Stare Bank is in a position to make additional loans of: A. $ 5 million. B. $10 million. C. $ 26 million.（分数：1.00）A.B.C.D.12.Which of the following statements is most accurate with respect to the measures of the money supply? A. When a firm writes a check to an individual,

12、 the M1 measure is increased. B. When an individual pays for a transaction at a business with a credit card, the M2 measure is increased. C. M2 includes M1 plus time deposits, savings deposits, and money market mutual fund balances.（分数：1.00）A.B.C.D.13.Based on research that has been done regarding t

13、he relationship between deficits and interest rates it can be concluded that: A. year-to-year data indicate a strong relationship between budget deficits and interest rates but over a more lengthy period, persistently large budget deficits do lead to higher interest rates as implied by the crowding-

14、out model. B. year-to-year data indicate a loose relationship between budget surpluses and interest rates but over a more lengthy period, persistently large budget deficits do lead to higher interest rates as implied by the crowding-out model. C. year-to-year data indicate a loose relationship betwe

15、en budget deficits and interest rates but over a more lengthy period, persistently large budget deficits do lead to higher interest rates as implied by the crowding-out model.（分数：1.00）A.B.C.D.14.Which of the following items is least likely to be included in the monetary base? A. Commercial checking

16、deposits. B. Federal Reserve notes. C. Coins issued by the Treasury.（分数：1.00）A.B.C.D.15.Which of the following statements about phases of the business cycle is most accurate? A. During an expansion, real output grows and unemployment increases. B. During contraction, real output declines and unemplo

17、yment decreases. C. The business peak is the highest output (measured in GDP) of an expansion.（分数：1.00）A.B.C.D.16.Assume that nominal gross domestic product (GDP) is $10 trillion and the money supply is $ 5 trillion. What is the velocity of money? A. 5x. B. 50x. C. 2x.（分数：1.00）A.B.C.D.17.U.S. banks

18、will generally opt to hold excess reserves if they believe general business conditions in the U.S. economy are subject to greater uncertainty. If all else is held constant, what is the most likely impact of this action? A. The money supply will decrease. B. The money supply will increase during a pe

19、riod of inflation, but will decrease if the economy goes into a recession. C. There will be no effect on the money supply.（分数：1.00）A.B.C.D.18.Geno Potosi is delivering a lecture on the Phillips curve model, during which he makes the following two statements: Statement 1: If expected inflation is les

20、s than actual inflation, the short-run Phillips curve shows that the unemployment rate will increase. Statement 2: The negative relationship between the inflation rate and unemployment rate does not hold in the long run because the expected inflation rate adjusts to the actual performance of inflati

21、on. Are Potosis two statements correct? Statement 1 Statement 2 A. Correct Correct B. Incorrect Correct C. Correct Incorrect A. B. C. （分数：1.00）A.B.C.D.19.Automatic stabilizers are government programs that tend to: A. automatically increase tax collections during a recession. B. reduce interest rates

22、, thus stimulating aggregate demand. C. change government deficits in a manner counter-cyclical to economic growth without legislative action.（分数：1.00）A.B.C.D.20.Which of the following statements best explains the importance of the timing of changes in discretionary fiscal policy? Changes in discret

23、ionary fiscal policy must be timed properly if they are going to: A. help the government achieve a balanced budget. B. exert a stabilizing influence on an economy. C. enable the government to control the money supply.（分数：1.00）A.B.C.D.21.According to the quantity theory of money, if the gross domesti

24、c product is $6 trillion and M1 money supply is $ 800 billion, the velocity of the M1 money supply is: A. 0.133. B. 1.153. C. 7.500.（分数：1.00）A.B.C.D.22.What would be the impact of an unanticipated increase in aggregate demand on an economys rate of unemployment, rate of inflation, and the short-run

25、Phillips curve (SRPC)? Unemployment Inflation SRPC A. Decrease Increase Upward movement along curve B. Increase Increase Downward movement along curve C. No effect Decrease Upward shift of curve A. B. C. （分数：1.00）A.B.C.D.23.The crowding-out effect suggests that: A. expansionary fiscal policy causes

26、inflation. B. restrictive fiscal policy is an effective weapon against inflation. C. the sale of government bonds to the public will drive up interest rates, thereby retarding private investment and aggregate demand.（分数：1.00）A.B.C.D.24.Which of the following is least likely to be cited as a limitati

27、on of discretionary fiscal policy stabilizers? A. Changes in the business cycle are difficult to predict. B. Taxes paid by households increase as incomes rise. C. Legal changes are delayed while legislators debate fiscal policy issues.（分数：1.00）A.B.C.D.25.If the economy is just coming out of a recess

28、ion, which one of the following would represent a typical sequence of phases in the business cycle? A. Expansion, business peak, contraction, recession. B. Expansion, business peak, recession, contraction. C. Depression, expansion, business peak, contraction.（分数：1.00）A.B.C.D.26.The term “automatic s

29、tabilizers“ refers to the fact that: A. legislators automatically change the tax structure and expenditure programs to correct upswings and downswings in business activity. B. with given tax rates and expenditure policies, a rise in national income tends to produce a surplus, while a decline tends t

30、o result in a deficit. C. government expenditures and tax receipts automatically balance over the course of the business cycle, although they may be out of balance in any single year.（分数：1.00）A.B.C.D.27.Proper timing of fiscal policy is important if the government is to: A. generating revenues from

31、taxes and sales equal to its expenditures. B. stimulate economic activity during a recession and restrain the economy during an inflationary boom. C. increasing the supply of loanable funds needed to place downward pressure on the real rate of interest.（分数：1.00）A.B.C.D.28.Which school of thought hol

32、ds that fiscal policy is most effective? A. the basic Keynesian model. B. the Crowding-Out model. C. New Classical economics.（分数：1.00）A.B.C.D.29.The Laffer curve indicates that: A. an increase in income tax rates will increase tax revenue. B. a decrease in sales tax rates could increase tax revenue.

33、 C. an increase in income tax rates may not increase tax revenue.（分数：1.00）A.B.C.D.30.Which of the following is determined by the equilibrium between the demand for money and the supply of money? A. Inflation rate. B. Interest rate. C. Money supply.（分数：1.00）A.B.C.D.31.If the U.S. Federal Reserve (the

34、 Fed) sells government securities, what will most likely be the impact on the real interest rate, inflation rate, employment rate, and real GDP in the short run? Inflation Rate Real Interest Rate Real GDP Employment Rate A. Decrease Increase Decrease Decrease B. Decrease Decrease Decrease Increase C

35、. Increase Decrease Increase Increase A. B. C. （分数：1.00）A.B.C.D.32.The major advantage of automatic stabilizers is that: A. they institute crowding out policy without the delays associated with policy changes that require legislative action. B. they institute countercyclical fiscal policy without th

36、e delays associated with policy changes that require legislative action. C. they institute cyclical fiscal policy without the delays associated with policy changes that require legislative action.（分数：1.00）A.B.C.D.33.Which of the following statements regarding inflation is most accurate? A. The purch

37、asing power of money increases as a result of inflation. B. Inflation has no effect on the real economic output. C. Inflation is a persistent increase in the general price level of goods and services.（分数：1.00）A.B.C.D.34.In a recent economic forum meeting, Jason Federmeyer of the Bank of Detroit, and

38、 Lawrence Lobovsky of the Bank of Tulsa, were discussing the demand for money and how it has changed over the years. Federmeyer made the following two statements to Lobovsky: Statement 1: Financial innovation has significantly affected the demand for money. The increased use of credit cards and debi

39、t cards, interest-bearing checking accounts, internet banking and even the large number of ATMs around the world have all helped to increase the demand for money above what it would have been if only the increase in real GDP were at work. Statement 2: Although the quantity of money demanded is large

40、ly determined by interest rates, the supply of money is determined by the central bank and is independent of interest rates. Are Statement 1 and Statement 2 as made by Federmeyer correct? Statement 1 Statement 2 A. Incorrect Incorrect B. Correct Incorrect C. Incorrect Correct A. B. C. （分数：1.00）A.B.C

41、.D.35.The supply of money is primarily determined by: A. inflation. B. the monetary authorities. C. interest rates.（分数：1.00）A.B.C.D.36.Under the classification system used by the U.S. Bureau of Labor Statistics, which of the following people would least likely be considered unemployed? Someone who:

42、A. was terminated from his last job. B. quit his previous job and is looking for new work. C. is disabled and unable to return to work.（分数：1.00）A.B.C.D.37.Which of the following most accurately describes the generational effects of fiscal policy? A. Fiscal stimulus generates economic activity greate

43、r than the amount of the stimulus due to the multiplier effect on future generations. B. Each generation of fiscal policy decisions has unintended effects that require another generation of fiscal policy actions to correct them. C. Fiscal imbalances must be corrected in the future by increasing taxe

44、s or decreasing government spending, and much of the burden will fall on future generations.（分数：1.00）A.B.C.D.38.According to the supply-side view of fiscal policy, if the impact of tax revenues is the same, does it make any difference whether the government cuts taxes by either reducing marginal tax

45、 rates or increasing the personal exemption allowance? A. No, both of the methods of cutting taxes will exert the same impact on aggregate supply. B. No, people in both cases will increase their savings expecting higher future taxes and thereby offset the stimulus effect of lower current taxes. C. Y

46、es, the lower tax rates alone will increase the incentive to earn marginal income and thereby stimulate aggregate supply.（分数：1.00）A.B.C.D.39.A central bank can control the money of stock by:. establishing reserve requirements for depository institutions. buying and selling government securities in t

47、he open market. setting the interest rate at which it will loan funds to commercial banks and other depository institutionsWhich of the following is FALSE? A. only. B. only. C. none.（分数：1.00）A.B.C.D.40.During the seminar, “Inflation - Friend or Foe?“ Joe Lebow, an analyst with Greenwald (2) buying a

48、nd selling government securities in the open market; (3) setting the interest rate at which it will loan funds to commercial banks and other depository institutions.40.During the seminar, “Inflation - Friend or Foe?“ Joe Lebow, an analyst with Greenwald not a one-time increase in the price level.41.

49、The corporate income tax is an automatic stabilizer because: A. corporate profits are strongly counter-cyclical. B. corporate profits are strongly pro-cyclical. C. the corporate profits tax increases tax collections during recessions.（分数：1.00）A.B. C.D.解析：Since corporate profits are strongly pro-cyclical, rising profits during expansionary p