中山大学岭南学院《萨缪尔森宏观经济学》160道英文选择题.docx
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中山大学岭南学院《萨缪尔森宏观经济学》160道英文选择题.docx
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中山大学岭南学院《萨缪尔森宏观经济学》160道英文选择题
32-35
1."Automaticstabilizers"tendto:
A)reducenational-incomefluctuations.
B)adjustpaytocost-of-livingchanges.
C)keepthemoneysupplyatasteady4to6percentincreaseperannum.
D)adjusttaxratestokeeptheactualbudgetinbalance.
E)adjusttaxratestokeepthecyclicdeficitinbalance.
Ans:
A
2.Unlike"crowdingout,""crowdingin"occurswhen:
A)investmentrespondstoincreasedoutputbyrising.
B)investmentisreplacedbyincreasedconsumption.
C)expansionarymonetarypolicyallowsanincreaseingovernmentspendingwithoutpenalty.
D)toomanybankerstrytogetonthesameelevator.
E)noneoftheabove.
Ans:
A
3、Theexpansionofthegovernmentdebtcouldresultin:
A)adeclineinsavings.
B)anincreaseininterestrates.
C)adeclineininvestment.
D)areductioninthecapitalstock.
E)alloftheabove.
Ans:
E
4、Ifsomeofourgovernmentbondsareownedbyforeigners,thencomparedwithnoforeignownership,theburdenonusofthepublicdebtis:
A)thesame,becauserealgoodsandservicesmustalwaysbeforegonetopaytheinterestonthedebt.
B)less,becausetheinterestonthedebtcanbepaidwithexportsratherthanwithhighertaxes.
C)greater,becausegoodsandservicesmust,ineffect,beshippedabroadtopaytheinterestonthedebt.
D)thesame,becauserealgoodsandservicesneverhavetobeforegonetopaytheinterestoneitheraninternallyoranexternallyhelddebt.
E)notproperlydescribedbyanyoftheabove.
Ans:
C
5.Therealburdenofthepublicdebtis:
A)increasedwhenpeopleignoreposterity.
B)increasedbywealtheffectsthatincreaseconsumption.
C)reducedifforeignersloanedusthemoneyinitially.
D)reducedifpeopleworkhardertopayitoffquickly.
E)unaffectedbyincomeredistributionproblems.
Ans:
B
6.LookcarefullyatFigure33-1.TheshiftintotalspendingfromC+I+G+XtoC+I+G'+Xismostlikelycausedby:
A)anincreaseintaxes.
B)adecreaseintaxes.
C)anincreaseingovernmentspending.
D)adecreaseingovernmentspending.
E)anyoftheabove,dependingonthesizeofthedeficit.
Ans:
C
7.Cyclicaldeficitsare:
A)theproductsofdiscretionaryfiscalpolicy.
B)theappropriatereflectionofthestimulativecharacteroffiscalpolicy.
C)dependentinpartontheautomaticstabilizersbuiltintothemacroeconomy.
D)neverconsidereduntilstrictmonetarycontrolraisesthespecterofcrowdingout.
E)noneoftheabove.
Ans:
C
8.WhichofthefollowingisprobablynotawayofincreasingmoneyGDP?
A)Ataxrise(T)equaltoexpenditureincrease(G).
B)Ataxrise(T)smallerthantheexpenditureincrease(G).
C)Areductionintaxes(T).
D)Anexpansionofexpenditures(G).
E)Abalancedreductioninexpenditures(G)andtaxes(T).
Ans:
E
9.Thegovernmentcanworsenaninflationarysituationifit:
A)increasestaxes.
B)exercisesmoneyandcreditpoliciestoreduceprivatespending.
C)makesitspublicactivitiesmoreefficient.
D)increasesdebt-financedspending.
E)doesanyoftheabove.
Ans:
D
10.Asanyfactorofproductionisusedmoreintensively:
A)itsproductivitytendstoincrease.
B)itsproductivitytendstodecrease.
C)firmprofitstendtorise.
D)firmprofitstendtofall.
E)noneoftheabove.
Ans:
B
11.Britaintodayhasan"unfavorable"balanceoftrade.WhichisnecessarilyafalsecharacterizationoftheBritishsituation?
A)TheBritishpayforthisdeficitbyinterestanddividendincomefrompastlending.
B)AtradedeficitcouldbeexpectedinamaturecreditornationsuchasBritain.
C)ThetradedeficitshowsthattheBritishmustberelativelyinefficientintheproductionofallgoods.
D)Thecurrentaccountdeficitislessthanthetradedeficit.
E)Noneoftheaboveisafalsecharacterization.
Ans:
C
12.Ifwheatsellsfor$2.50intheUnitedStatesandonepoundsterlingintheUnitedKingdom,withneithertransportcostsnormarketimperfections,thentheforeignexchangeratemustbe:
A)onepoundsterling=$1
B)$2.50=onepoundsterling.
C)21/2poundssterlingper$1.
D)3:
1.
E)noneoftheabove.
Ans:
B
13.IftheWestGermanmarkappreciatesrelativetothepound,then:
A)EnglishimportersbuymoreGermanexportgoods.
B)GermanimportersbuyfewerEnglishexportgoods.
C)EnglishexportersfindthattheGermansarewillingtobuymoregoodsfromthem.
D)GermanexportersfindthattheEnglisharewillingtobuymoregoodsfromthem.
E)noneofthesewillhappen,forachangeintheforeignexchangeratehasnoeffectonthedemandandsupplyofinternationallytradedgoods.
Ans:
C
14.Ifwesaythatacountry'scurrencyhasbeendevalued,wemeanthat:
A)ithasgoneoffthegoldstandard.
B)thedomesticpurchasingpowerofitscurrencyunithasincreased.
C)itsgovernmenthasincreasedthepriceitwillpayforgold.
D)itisexperiencinganunfavorablebalanceoftrade.
E)thepricesofatleastsomeforeigncurrencies,asexpressedinthatcountry'sdomesticcurrency,havefallen.
Ans:
C
15.Ifacountrydepreciatestheforeignexchangevalueofitscurrency,theresultswilltypicallybethat:
A)itsimportswillseemcheaper(fromtheviewpointofitsowncitizens),anditsexportswillseemmoreexpensive(fromtheviewpointofforeigners).
B)itsimportswillseemmoreexpensive(fromtheviewpointofitsowncitizens),anditsexportswillseemcheaper(fromtheviewpointofforeigners).
C)bothitsimportsanditsexportswillseemcheaper(fromtheviewpointofbothitsowncitizensandforeigners).
D)bothitsimportsanditsexportswillseemmoreexpensive(fromtheviewpointofbothitsowncitizensandforeigners).
E)noneoftheabovewilloccur,sincethereisnoreasonwhythepricesofeitherimportsorexportsshouldbeaffected.
Ans:
B
16.AboycottofBritishgoodsbyU.S.consumersmightresultin:
A)adepreciationofthedollarrelativetothepound.
B)adepreciationofthepoundrelativetothedollar.
C)aninflationofthedomesticeconomyofGreatBritain.
D)anotherwarinthecolonies.
E)noneoftheabove.
Ans:
B
17.Thepoundwilltendtofallinvalueinrelationtothedollarif:
A)AmericandemandforBritishcarsgoesup.
B)PricesandcostsgoupinBritainfasterthanintheU.S.
C)U.S.nationalincomerises.
D)AmericaninvestorsincreaseinvestmentinstocksandbondsofBritishfirms.
E)theBritishgovernmentrestrictsthenumberofBritishtouriststravelingintheUnitedStatesbycuttingtravelallotments.
Ans:
B
18.Thepurchasing-powerparitytheoryofexchangeratessuggeststhat:
A)allcountriesthatproducethesameproductsshouldhavesimilarexchangerates.
B)inthelongrun,exchangeratestendtomovewithchangesinrelativepricesofdifferentcountries.
C)countrieswithhighinflationratestendtohavedepreciatingcurrencies.
D)alltheabove.
E)bandconly.
Ans:
E
19.Whichofthefollowingisaneconomicreasonwhycountriesmayengageininternationaltrade?
A)Differencesinnaturalresources.
B)Differencesinproductioncosts.
C)Differencesintastes.
D)Alloftheabove.
E)ChoicesAandBonly.
Ans:
D
20.Thelawofonepricestatesthat:
A)allpricesshouldbeintermsofdollars.
B)countrieswithflexibleexchangeratesshouldtradeprimarilywithothercountrieswithflexibleexchangerates.
C)countrieswithfixedexchangeratesshouldexpecttopayhigherpricesforforeigngoodsandservices.
D)thepurchasing-powerparitytheoryappliesonlyinspecialcases.
E)identicalgoodsshouldsellforthesamepriceinallmarkets.
Ans:
E
21.WhichofthefollowingcouldemergeastheratioofthepriceoffoodtothepriceofclothingiftradewereopenedbetweentheU.S.andEuropeasdepictedinFigure35-1?
A)0.4.
B)0.7.
C)1.0.
D)1.2.
E)3.0.
Ans:
B
22.Protectionisttariffandquotasoften:
A)dolittletostemthetideofcheapforeignimports.
B)reducetherealincomesoftheprotectedworkersandconsumers.
C)leadtothecompleteeconomicisolationofanation.
D)resultinincreasedworld-wideproductionefficiency.
E)noneoftheabove.
Ans:
B
23.Withconstantlaborcosts(L),thetwocountries,XandYproduceunitsofAandBasshownbelow.Itisclearthatwithfreetrade,moneywageratesinXwillbe:
XY
A1L3L
B2L4L
A)3timesthoseinY.
B)morethan3timesthoseinY.
C)between2and3timesthoseinY.
D)lessthantwicethoseinYbuthowmuchlessisunknown.
E)one-forththoseinY.
Ans:
C
24.Tradebetweencountriesofcomparablesizeanddifferentstandardsoflivingcanbe
A)profitabletothecountrywiththelowerstandardoflivingonlyattheexpenseoftheother.
B)profitabletoboth,butonlyiftheymaintaindifferentrelativepriceratiosfortradeablegoods.
C)profitabletoboth,tosomedegree,evenaftercommonrelativepriceratiosamongtradeableshavebeenestablished.
D)unprofitableforbothbecausethecountrywiththehigherstandardoflivingmusthavecomparativeadvantagesinallgoods.
E)noneoftheabove.
Ans:
C
25.Itrequiresthefollowingnumberoflabor-hourstoproducebicyclesandclothinAtlantiaandUtopia:
UtopiaAtlantia
Bicycle,each3020
Cloth,perbolt2010
Itcanbesaidthat:
A)UtopiaandAtlantiabothhavecomparativeadvantageinbicycles.
B)UtopiaandAtlantiabothhavecomparativeadv
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