宏观经济学课件 chapter 04.docx
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宏观经济学课件 chapter 04.docx
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宏观经济学课件chapter04
Macroeconomics,6e(Blanchard/Johnson)
Chapter4:
FinancialMarkets
4.1MultipleChoiceQuestions
1)Whichofthefollowingisacharacteristicofbonds?
A)payzeronominalinterest
B)canbeusedfortransactions
C)aresoldforapricethatvariesinverselywiththeinterestrate
D)alloftheabove
E)noneoftheabove
Answer:
C
Diff:
1
2)Whichofthefollowingisaflowvariable?
A)income
B)money
C)financialwealth
D)alloftheabove
E)noneoftheabove
Answer:
A
Diff:
1
3)Whichofthefollowingisacomponentofmoney?
A)bonds
B)saving
C)income
D)stocks
E)noneoftheabove
Answer:
E
Diff:
1
4)Whichofthefollowingisacomponentofmoney?
A)coinsheldbythenonbankpublic
B)billsheldbybanks
C)checkabledeposits
D)alloftheabove
Answer:
D
Diff:
1
5)Whichofthefollowingwillcauseanincreaseintheamountofmoneythatonewishestohold?
A)anincreaseintheinterestrateincrease
B)areductionintheinterestrateincrease
C)areductioninincome
D)noneoftheabove
Answer:
B
Diff:
2
6)Themoneydemandcurvewillshifttotherightwhenwhichofthefollowingoccurs?
A)anincreaseinincome
B)areductionintheinterestrate
C)anincreaseinthemoneysupply
D)alloftheabove
E)noneoftheabove
Answer:
A
Diff:
2
7)Themoneydemandcurvewillshifttotheleftwhenwhichofthefollowingoccurs?
A)areductionintheinterestrate
B)anincreaseintheinterestrate
C)anopenmarketsaleofbondsbythecentralbank
D)anincreaseinincome
E)noneoftheabove
Answer:
E
Diff:
2
8)WhichofthefollowingisNOTincludedasacomponentoftheM1definitionofmoney?
A)bonds
B)checkabledeposits
C)coinsandbillsheldbythenonbankpublic
D)alloftheabove
E)noneoftheabove
Answer:
A
Diff:
1
9)In2006,theaverageU.S.householdheldapproximatelyhowmuchcurrency(dollarbillsandcoins)?
A)$50
B)$100
C)$600
D)$1600
E)noneoftheabove
Answer:
D
Diff:
2
10)WhichofthefollowingcountrieshasadoptedtheU.S.dollarasitsowncurrency?
A)Ecuador
B)Mexico
C)Canada
D)France
E)Australia
Answer:
A
Diff:
2
11)Atthecurrentinterestrate,supposethesupplyofmoneyislessthanthedemandformoney.Giventhisinformation,weknowthat
A)thepriceofbondswilltendincrease.
B)thepriceofbondswilltendtofall.
C)productionequalsdemand.
D)thegoodsmarketisalsoinequilibrium.
E)thesupplyofbondsalsoequalsthedemandforbonds.
Answer:
B
Diff:
2
12)Theinterestratewillincreaseasaresultofwhichofthefollowingevents?
A)anincreaseinincome
B)anopenmarketpurchaseofbondsbythecentralbank
C)areductioninincome
D)alloftheabove
E)noneoftheabove
Answer:
A
Diff:
2
13)WhichofthefollowingisNOTanassetonabank'sbalancesheet?
A)reserves
B)loans
C)checkabledeposits
D)alloftheabove
E)noneoftheabove
Answer:
C
Diff:
1
14)Whichofthefollowingisaliabilityonabank'sbalancesheet?
A)checkabledeposits
B)reserves
C)loans
D)alloftheabove
E)noneoftheabove
Answer:
A
Diff:
1
15)Whichofthefollowingisaliabilityforthecentralbank?
A)currency
B)bonds
C)savingsaccounts
D)loans
E)checkabledeposits
Answer:
A
Diff:
1
16)Supposeaone-yeardiscountbondofferstopay$1000inoneyearandcurrentlysellsfor$950.Giventhisinformation,weknowthattheinterestrateonthebondis
A)5.3%.
B)9.5%.
C)10%.
D)90%.
E)110%.
Answer:
A
Diff:
2
17)Supposeaone-yeardiscountbondofferstopay$1000inoneyearandcurrentlyhasa15%interestrate.Giventhisinformation,weknowthatthebond'spricemustbe
A)$869.56.
B)$1150.
C)$850.
D)$950.
E)noneoftheabove
Answer:
A
Diff:
2
18)Banksaredifferentfromotherfinancialintermediariesbecause
A)banksreceivefundsandmakeloans.
B)someofabank'sdepositsaremoney.
C)bankscanconductopenmarketoperationsontheirown.
D)banksdonotneedtoholdreservesagainsttheirdeposits.
E)banksareopenlongerhours.
Answer:
B
Diff:
1
19)Whichofthefollowinggenerallyoccurswhenacentralbankpursuesexpansionarymonetarypolicy?
A)thecentralbankpurchasesbondsandtheinterestrateincreases.
B)thecentralbankpurchasesbondsandtheinterestratedecreases.
C)thecentralbanksellsbondsandtheinterestrateincreases.
D)thecentralbanksellsbondsandtheinterestratedecreases.
Answer:
B
Diff:
2
20)Whichofthefollowinggenerallyoccurswhenacentralbankpursuescontractionarymonetarypolicy?
A)thecentralbankpurchasesbondsandtheinterestrateincreases.
B)thecentralbankpurchasesbondsandtheinterestratedecreases.
C)thecentralbanksellsbondsandtheinterestrateincreases.
D)thecentralbanksellsbondsandtheinterestratedecreases.
Answer:
C
Diff:
2
21)Whichofthefollowingwilloccurwhenthecentralbankpursuesexpansionarymonetarypolicy?
A)aleftwardshiftinthemoneydemandcurveandaleftwardshiftinthemoneysupplycurve
B)arightwardshiftinthemoneydemandcurveandaleftwardshiftinthemoneysupplycurve.
C)aleftwardshiftinthemoneydemandcurveandarightwardshiftinthemoneysupplycurve.
D)arightwardshiftinthemoneydemandcurveandarightwardshiftinthemoneysupplycurve.
E)noneoftheabove
Answer:
E
Diff:
2
22)Whichofthefollowingisacomponentofhighpoweredmoney?
A)bondsheldbybanks,loans,andbankreserves
B)currencyincirculationplusbankreserves
C)currencyincirculationpluscheckabledeposits
D)bondsheldbybankspluscheckabledeposits
E)thesumofcurrencyincirculation,bankreserves,andcheckabledeposits
Answer:
B
Diff:
2
23)Forthisquestion,assumethatindividualsdoNOTholdcurrency(i.e.,c=0).Iftheratioofreservestodepositsis.10,themoneymultiplieris
A).1.
B).9.
C)4.
D)5.
E)10.
Answer:
E
Diff:
2
24)Whichofthefollowingwillcausethemoneymultipliertobecomesmaller?
A)anincreaseinhighpoweredmoney
B)adecreaseintheratioofreservestocheckabledeposits
C)anincreaseinthepublic'spreferenceforcheckingdepositsasopposedtoholdingcurrency
D)areductioninhighpoweredmoney
E)noneoftheabove
Answer:
E
Diff:
3
25)Themoneysupplywilltendtofallwhenwhichofthefollowingoccurs?
A)acentralbanksaleofbonds
B)adecreaseintheratioofreservestodeposits
C)ashiftinpublicpreferencesawayfromcurrencytocheckabledeposits
D)alloftheabove
E)noneoftheabove
Answer:
B
Diff:
3
26)Whichofthefollowingeventswillcausetheinterestratetoincrease?
A)anopenmarketsaleofbonds
B)anincreaseinthereservedepositratio(i.e.,θ)
C)anincreaseinincome
D)alloftheabove
Answer:
D
Diff:
2
27)Thefederalfundsrateisdeterminedinwhichofthefollowingmarkets?
A)themarketforU.S.treasurysecurities
B)themoneymarket
C)thebondmarket
D)themarketforcentralbankmoney
E)noneoftheabove
Answer:
E
Diff:
1
28)Forthisquestion,assumethatindividualsdoNOTholdcurrency(i.e.,c=0).Themoneymultiplierisequalto
A)1.
B)1/(1-c).
C)θ.
D)1/(1-θ).
E)noneoftheabove
Answer:
E
Diff:
2
29)Forthisquestion,assumethatindividualsdoNOTholdcurrency(i.e.,c=0).Themoneymultiplierisequalto
A)1/(1-c).
B)1/[c+θ(1-c)].
C)[c+θ(1-c)].
D)1/θ.
E)noneoftheabove
Answer:
D
Diff:
2
30)Forthisquestion,assumethatindividualsholdbothcurrencyandcheckabledeposits.Themoneymultiplierisequalto
A)1/c.
B)1/[c+θ(1-c)].
C)[c+θ(1-c)].
D)1/θ.
E)1/(1-c)
Answer:
B
Diff:
3
31)Wewouldexpectwhichofthefollowingtooccurwhenthecentralbankpursuesexpansionarymonetarypolicy?
A)anincreaseinbondpricesandanincreaseintheinterestrate(i)
B)areductioninbondpricesandanincreaseini
C)anincreaseinbondpricesandareductionini
D)areductioninbondpricesandareductionini
E)noneoftheabove
Answer:
C
Diff:
2
32)Wewouldexpectwhichofthefollowingtooccurwhenthecentralbankpursuescontractionarymonetarypolicy?
A)anincreaseinbondpricesandanincreaseintheinterestrate(i)
B)areductioninbondpricesandanincreaseini
C)anincreaseinbondpricesandareductionini
D)areductioninbondpricesandareductionini
E)noneoftheabove
Answer:
B
Diff:
2
33)Basedonourunderstandingofthedeterminantsoftheinterestrateandbondprices,weknowthatareductioninincomewillcause
A)anincreaseinbondpricesandanincreaseintheinterestrate(i).
B)areductioninbondpricesandanincreaseini.
C)anincreaseinbondpricesandareductionini.
D)areductioninbondpricesandareductionini.
E)noneoftheabove
Answer:
C
Diff:
2
34)Wewouldexpectwhichofthefollowingtooccurwhenthecentralbankconductsanopenmarketsaleofbonds?
A)areductioninthemonetarybase(H)
B)areductioninthemoneymultiplier
C)anincreaseinH
D)anincreaseinthemoneymultiplier
E)bothCandD
Answer:
A
Diff:
2
35)Wewouldexpectwhichofthefollowingtooccurwhenthecentralbankconductsanopenmarketpurchaseofbonds?
A)areductioninthemonetarybase(H)
B)areductioninthemoneymultiplier
C)anincreaseinthemoneymultiplier
D)anincreaseinthemoneysupply
Answer:
D
Diff:
2
36)TheFDICcurrentlyinsureseachbankaccountuptowhatlevel?
A)$10,000
B)$50,000
C)$250,000
D)$150,000
Answer:
C
Diff:
1
37)Anincreaseinthereserveratio,θ,willcause
A)anincreaseinthemonetarybase(H).
B)areductioninH.
C)anincreaseinthemoneymultiplier.
D)areductioninthemoneymultiplier.
E)noneoftheabove
Answer:
D
Diff:
2
38)Areductionin
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