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HD EDUCATION HD EDUCATION ECON 2102 Final 刷题班 TUTOR: Jack HD EDUCATION HD EDUCATION TUTOR 自我介绍： 1. 现在所处的大学阶段是 2. 所学专业是 3. 所教授科目取得怎样的成绩 优势是什么 4. 您的教学风格是这么样的 5. 平时有什么兴趣爱好 6. 有哪些亮眼的实习经历 HD EDUCATION 1.点【 参会者】 2.点【 举 】 即可与 师实时互动 3.问题被解答了还可以【 放下】 红圈处输 问题提问 红圈处输 问题提问 HD EDUCATION Question 1 The production of new ideas in the Romer model Select one: a. increases in the efficiency of creating knowledge and the fraction of labor in research and development. b. decreases in the efficiency of creating knowledge and increasing the fraction of labor in research and development. c. increases in the efficiency of creating knowledge and decreasing in the fraction of labor in research and development. d. increases in the population growth rate and capital accumulation e. decreases in the efficiency of creating knowledge and in the fraction of labor in research and development. Question 2 The production function = 1 3 2 3 describes _____ to generate output. a. how any amount of capital and labor can be combined b. how particular amounts of capital and labor can be combined c. how any amount of capital and a particular amount of labor can be combined d. how any amount of labor and a particular amount of capital can be combined e. that the ratio of capital stock to labor must be one-third HD EDUCATION to two-thirds Question 3 The key insight in the Solow-Swan model is that a. saving rates are determined in a particular manner b. savings have no impact on economic growth. c. capital depreciation enhances economic growth. d. the relationship between capital and output is static e. capital accumulation contributes to economic growth. Question 4 In the Solow Swan model, The level of consumption a. is largest when the economy is in its steady state. b. directly depends on the depreciation rate. c. is largest when the economy is below its steady state. d. is largest when the economy is above its steady state. e. More information is required. Question 5 Starting from steady state, a permanent increase in the rate of depreciation in the Solow model causes a. the growth rate of output to fall temporarily and the level of GDP to fall permanently b. the growth rate of output to fall temporarily but leaves the level of GDP unchanged in the long run c. the growth rate of output to fall permanently and the level of GDP to fall temporarily d. the growth rate of output to rise temporarily but leaves the level of GDP unchanged in the long run. e. the growth rate of output to rise temporarily and the level of GDP to rise permanently. Question 6 In the Solow-Swan model, if capital is in the steady state, output a. will continue to grow b. is also in the steady state c. will continue to grow, but its rate of growth will slow down. d. will decline, but its rate of growth will be positive. HD EDUCATION e. will begin to contract. Question 7 Consider an economy characterized by a Cobb-Douglas production function. Labor income share is 0.5 and the productivity parameter is 1.2. How many units of output can be produced with 25 units of capital and 64 workers a.10 b.24 c.1,600 d.96 e.48 Question 8 Which of the following are we likely going to want to explain with an economic growth model i. why people in the United States are 50 times richer than Ethiopians; ii. what causes economic growth; iii. what we think politicians should do with taxes a. i only b. ii only c. iii only d. i and ii e. All of these options are correct. Question 9 An economy starts in steady state. A war causes a massive destruction of the capital stock. This shock will HD EDUCATION cause: a. the economy to converge to a new lower steady state. b. the growth rate of output to rise initially as the economy begins to converge to a new lower steady state. c. the economy to enter a period of negative growth. d. the growth rate of output to rise initially as the economy begins to converge to the old steady state. e. a permanent increase in the unemployment rate Question 10 Which of the following flowcharts best summarizes Romer’s description of ideas and growth a. Ideas -Capital -Constant returns -Imperfect competition b. Ideas -Rivalry -Increasing returns – Perfect competition c. Capital -Rivalry -Increasing returns – Perfect competitior d. Ideas -Nonrivalry -Increasing returns -lmperfect competition e. ldeas – Nonrivalry – Increasing returns – Perfect competition Question 11 The solution to the firm’s profit maximization is a. MPL = w b. MPL = w and MPK =r c. MPL < w and MPK = r d. MPL = w and MPK= 0 e. MPL > w and MPK = r Question 12 The Solow-Swan model describes a. how saving rates are determined. b. the static relationship between capital and output. c. how savings, population growth, and technological change affect output over time. d. how savings, population growth, and technological change affect output in a single period. e. what constitutes technological change. Question 13 HD EDUCATION The growth rate of per capita GDP in the Romer model depends on the number of workers engaged in research. However, the country of Luxemburg, which has far fewer researchers than the U.S., grows at a rate faster than the U.S. and has a higher per capita GDP. How can the Romer model explain this difference in growth rates a. The model fails to predict the facts. b. Luxemburg is richer so according to the principle of transition dynamics, its economy should grow faster. c. This difference in growth rates is not consistent with the Romer model. d. The productivity of researchers or the share of workers engaged in research must be smaller in Luxemburg than in the U.S. e. Due to the nonrivalry of ideas, the economy of Luxemburg grows because the model is based on ideas created throughout the world, not just within that country. Question 14 In the Solow-Swan model, net investment is defined as a. Investment plus capital depreciation. b. Investment minus capital depreciation c. The saving rate minus the depreciation rate d. The saving rate plus the depreciation rate. e. None of the answers above. Question 15 The Solow model assumes that the saving rate a.is zero. b.is constant. c.decreases as income increases. d.increases as income increases. e.increases as the interest rate rises. Question 16 The employment to population ratio has been increasing in most developed economies over the last 30 years. HD EDUCATION Which one of the following statements is not a proper explanation for that 1)increase in female labour participation 2)technological change 3)increase in inflation rate 4)changes in social norms 5)changes in discrimination a. 2 and 4 b. 4 and 5 c. only 3 d. 2,3 and 4 e. only 4 Question 18 Which one of the following statements is correct a. If wages are rigid, imposing taxes will not affect the level of employment in equilibrium b. Usually the youth unemployment rate is lower than the aggregate unemployment rate because there are fewer HD EDUCATION young individuals willing to work. c. Labour income taxes create distortions in the labour market. d. The intersection of labour supply and demand always determines the level of employment in the economy. e. The labour supply curve is downward sloping because the price of leisure decreases when wages are higher. Question 19 Which of the following is an example of cyclical unemployment a. A worker quits her job to find a better job b. A worker is unemployed because the cost of finding a job in another city is too high. c. A worker loses her job because the minimum wage increases substantially. d. A worker loses his job because he failed the macro exam. e. A worker loses her job because the economy begins to enter a recession. Question 20 A drawback of unemployment benefits is that: a.it affects human capital accumulation because it increases the college premium b.they cost taxpayers over 50 percent of their incomes. c.the payments are too large. d.they always lengthen the time spent unemployed. e.they give workers a disincentive to find work. Question 21 When computing the present discounted value (pdv) of a future stream of labor income, an increase in the HD EDUCATION interest rate will a.depend on the time path of income. b.More info is need it question c.increase the pdv. d.reduce the pdv. e.have no change on pdv. Question 22 The coordination problem is difficult to solve because a.policy makers cannot make unified decisions. b.aggregate price-setting behavior has built-in inflation inertia. c.individual price-setting behavior economy wide has built-in inflation inertia. d.central banks are controlled by many different interests. e.All of these answers are correct. Question 23 If income tax rates are based on nominal income, as inflation increases, taxpayers will see a.an increase in their real incomes b.their taxes fall as their income falls. c.their taxes rise even though their real income is falling. d.an increase in the nominal income. e.their taxes fall even though their real income is rising. Question 24 If the change in inflation is positive, we know that a. the economy is in a recession, and actual unemployment is less than the natural rate of unemployment. b. the economy is in a boom, and actual unemployment is less than the natural rate of unemployment. c. More information is need it d. the economy is in a recession, and actual unemployment is greater than the natural rate of unemployment. e. the economy is in a boom, and actual unemployment is greater than the natural rate of unemployment. HD EDUCATION Question 25 The proposition that changes in money have no real effect on the economy and affect only prices is referred to as Select one: a. inflation b. the classical dichotomy question c. the quantity equation d. the neutrality of money e. the quantity theory. Question 26 Suppose you put $100 in the bank on January 1,2019. If the annual nominal interest rate is 5 percent and the inflation rate is 2 percent, you will be able to buy____ worth of goods, valued at 2019 prices, on January 1. 2020. Select one: a. $93 b. $107 c. $103 d. $105 e. $99 Question 27 According to the text, which of the following can be used to characterize potential output i. Assume a perfectly smooth trend is passing through the quarter-to-quarter movements in the real GDP. ii. Take averages of the surrounding actual GDP numbers. iii. Gather current data from statistical agencies, such as the Bureau of Economic Analysis. Select one: a. i only question b. i only c. i and ii d. i and ii e. ii only Question 28 The Australian economy is growing faster than expected, then RBA will lower short-run output by a. lowering the nominal interest rate. b. increasing the money supply. c. lowering the real interest rate. d. decreasing the money supply. e. More information is needed HD EDUCATION Question 29 The fundamental lesson of the life cycle and permanent-income hypotheses is that a. individuals smooth their consumption patterns over their lifetime b. individuals vary their consumption patterns over their lifetime. c. individuals’ consumption patterns vary as their income changes. d. individuals’ consumption changes with changes in their temporary income. e. taxes are ineffectual. Question 30 In the short run, if the RBA reduces interest rates, firms a. do not change their capital stock. b. buy less capital and the marginal product of capital falls. c. allow their capital to fully depreciate. d. accumulate more inventory. e. buy more capital and the marginal product of capital falls Question 31 According to Okun’s law, if the RBA wants to reduce unemployment, it should interest rates, which will output. a. reduce; reduce b. increase; increase c. reduce; increase d. reduce; not change e. not change; increase Question 32 If the real interest rate is less than the marginal product of capital, firms are better off a. producing at a loss. b. saving their earnings in an economywide financial marke c. accumulating more inventory. d. borrowing in financial markets and buying more capital. e. using more imported intermediate goods. Question 34 Ceteris paribus, an import tariff _____ demand for foreign goods and causes a(n) ___ in the IS curve. a. reduces: leftward shift b. has no impact on; leftward shift c. reduces: movement to the right along d. reduces; outward shift e. increases; outward shift Question 35 HD EDUCATION The foundation of the IS curve is the equation _____ which is the ____. a. Yt=Ct+It+Gt+ EXt-IMt: national income identity b. Yt=Ct + It + Gt + IMt: national income identity c. Yt = Ct + It + Gt: national income identity d. Yt = Ct It + Gt + EXt + IMt; current account e. EYt=Ct +It + Gt + IMt + FXt: current account. Question 36 If all the economies of the European Union experience a recession, the United States will experience _____ and the IS curve will _____ ceteris paribus. a. no change; stay constant b. a positive aggregate demand shock; shift right c. a negative aggregate demand shock: shift lef d. no change; shift right e. Not enough information is given. Question 37 An implication of sticky inflation is that, through monetary policy changes, the RBA a. has no impact on inflation. b. can alter the real interest rate in the long run. c. can alter the real interest rate in the short run. d. has no impact on the real interest rate. e. has no impact on the unemployment rate Question 38 If the central bank reduces the money supply, the a. inflation rate will rise and individuals will hold more money. b. nominal interest rate will rise and individuals will hold more money. c. nominal interest rate will fall and individuals will hold no money. d. nominal interest rate will rise and individuals will hold les

s money e. unemployment rate will rise and individuals will hold less money. Question 39 When a central bank targets the money supply, it adopts a policy to adjust ____ to accommodate _____. a. interest rates; tax changes b. interest rates; money demand shocks c. money demand; government debt d. interest rates; money supply Question 40 When the Federal Reserve loosens money, the money _____ and interest rates _____. a. supply curve shifts right; rise HD EDUCATION b. supply curve shifts right; fall c. demand curve shifts right; rise d. demand curve shifts left; rise e. supply and demand curves do not change; rise Question 41 If the Federal Reserve reduces the money supply, a. a household will prefer to hold more wealth in an interest-bearing account than as cash. b. a household will prefer to hold more wealth in a zero-interest account than as cash c. a household will prefer to hold all its wealth in an interest-bearing account. d. foreianers will refuse to hold dollars. e. the federal government will become insolvent. Question 42 Suppose that the interest rate is 10 percent. An agent has initial assets of $200,000. Labor income in the current period is $50,000.Labor income in the future period is $110,000.What is the agent’s total wealth Select one: a. $360,000 b. $530,000 c. $160,000 d. $150,000 e. $350,000 Question43 If Ricardian equivalence holds, then a. a tax cut today financed by tax increases in the future is the best fiscal policy to undertake in a recession where consumption spending is low. b. a tax cut today financed by tax increases in the future will have no effect on the aggregate level of consumption. c. a tax cut today financed by tax increases in the future will stimulate consumption. d. a tax cut today financed by tax increases in the future will contract consumption. e. a tax cut today financed by tax decreases in the future is the best fiscal policy to undertake in a boom where consumption spending is high. Question 44 Consider the neoclassical model with log utility where the patience parameter can take on any number between zero and one. Which of the following statements is true a. All the alternatives are correct. b. An increase in the patience parameter will increase current consumption. c. An increase in the patience parameter will increase both current and future consumption. d. An increase in the patience parameter will increase future consumption. e. An increase in the patience parameter will not change future consumption. HD EDUCATION Question 45 Consider an agent with a utility function that exhibits diminishing marginal utility. If consumption rises by 10 units, then total utility will increase the most if the initial level of consumption was: a. The depends on the specific utility function. b. Depends on the discount factor. c. 20 units. d. 30 units. e. 10 units. Question 46 Suppose the existing stock of government debt is $100 million. The interest rate is 5 percent. Government expenditures are $50 million. Tax revenue is $40 million. The total deficit is Select one: a. $5 million b. $10 million. c. $15 million. d. $110 million. e. $80 Million. Question 47 The primary budget is balanced. The interest rate is 5 percent. The growth rate of nominal GD is 2 percent. The initial debt-GDP ratio is 10 percent. Over time, the debt to GDP ratio will grow by a. 2 percent b. 3 percent c. 5 percent. d. 10 percent. e. 1 percent Question 48 The stock of debt can increase over time and the debt-GDP ratio can decrease over time if an economy is a. growing at a positive rate. b. growing at a rate faster than the stock of debt. c. growing at a rate slower than the stock of debt. d. Such a scenario is impossible. e. growing faster than the rest of the world Question49 If government purchases are equal to $100, transfer payments are $20, and tax revenue and changes in borrowing total $130,what is the amount of interest on debt (assume the money supply does not change) a. $10 b. $20 HD EDUCATION c. $30 d. $40 e. $5 Question 50 International trade tends to have which of the following results on an economy a. Everyone in an economy has welfare gains. b. Everyone in an economy has welfare losse c. Everyone in the economy realizes some small gains, but a small portion of the economy also has large losses. d. Everyone in the economy realizes some small losses, but a small portion of the economy also has large gains e. Everyone in the economy realizes some small gains, but a large portion of the economy also has large losses. Question 51 A country may want and be able to run large, repeated trade deficits if a. it expects to have positive GDP growth in the future. b. it expects to have GDP growth that is faster than the growth of the world as a whole. c. c. it expects the world rate as a whole to grow faster than its own GDP growth. d. it expects negative GDP growth but wishes to smooth consumption. e. it expects to have GDP growth that is faster than the growth of consumption level. Question 52 France and Japan have the same-sized labor force. Suppose French workers can produce 2 cars per year, and Japanese workers can produce 10 cars per year. Suppose French workers can produce 1sailboat per year, and Japanese workers can produce 2 sailboats per year. Which of the fallowing is true a. France has a comparative advantage in producing sailboats. b. France has a comparative advantage in producing cars. c. France has an absolute advantage in producing both goods. d. France has neither a comparative or absolute advantage at producing either. e. More information about income is required. Question 53 The trade balance is $1,000 and investment is $5,000. Domestic saving is equal to a. $6,000 b. $4,000 c. -S1,000 d. -$2,000 e. $5,000 Question 54 If consumption, investment, and government purchases are equal to $15,000, transfer payments are $500, and total output is $16,000, net exports are a. S1,000 HD EDUCATION b. -$1,000 c. $500 d. -$500 e. $1,500 Question 55 The shape of this production function suggests that in the production function = 1 is greater than one. Question 56 Each of the following is a benefit of economic growth: a. loss of jobs in some sectors b. pollution c. increased income inequality Question 57 The production function of the form = 1 3 1 3 exhibits constant returns to scale. Question 58 If the marginal product of labor equals the wages, firms should hire more workers. Question 59 In the neoclassical consumption model, current consumption is determined by an agent maximizing lifetime utility subject to the current period’s budget constraint. Question 60 In the neoclassical consumption model with log utility functions for current and future consumption, an increase in the interest rate will increase the growth rate of consumption. Question 61 In the neoclassical consumption model where utility takes a general functional form, an increase in the interest rate will unambiguously raise first-period consumption. HD EDUCATION Question 62 Ricardian equivalence implies that government budget deficits need not crowd out investment spending. Question 63 The intertemporal budget constraint implies that the government must balance its budget period by period. Question 64 In order to maintain political support for free trade, it is likely that policymakers will need to find ways to share the benefits of trade with the individuals who are most directly harmed. Question 65 The world as a whole is more efficient under free trade than under free migration. Question 66 A widely used utility function in the economics literature is the constant rate of risk aversion utility function. It is given by: () = 1 1 Assume that an agent lives for three periods (t = 0,1,2) and discounts future utility at rate β (per period). The agent is born with asset level ao and his/her labour market income is y0 and y1 for periods 0 and 1 respectively, the agent retires in the last period (no labour income). The interest rate in this economy is r. Please answer the following questions based on the information displayed here. Choose the best option available. a. The maximization function is = (1 + )(0) + (1 + ) 2(1) + (1 + ) 3(2) b. The maximization function is = (0) + (1) + 2(2) c. The maximization function is = (0) + (1) + (2) d. The maximization function is = (0) + (1 + ) (1) + (1 + ) 2(2) e. The maximization function is = (0) + 2(1) + 3(2) Question 67 Choose the best option available. a. There are 2 budget constraints in this maximization problem the agent does not work in the third period. b. There are 3 budget constraints in this maximization problem. The budget constraints can be simplified to only one constraint, even if we impose a borrowing constraint. c. There are 3 budget constrains in this maximization problem. The budget constraints can be simplified to only one constraint only if the discount factor is less than one. HD EDUCATION d. There are 3 budget constrains in this maximization problem. The budget constraints can be simplified to only one constraint only if there are no borrowing constraints. e. There are 2 budget constraints in this maximization problem. The budget constraints can be simplified to only one constraint even if we impose a borrowing constraint. Question 68 Choose the best option available a. Optimal consumption levels are always constant b. Optimal consumption levels are constant only if = (1 + )2 c. We need more information to specify the consumption pattern d. In this model consumption will grow over time because r is positive e. Optimal consumption levels are constant only if = 1 + Question 69 This question aims to explore some of the points discussed about the Solow-Swan model. Consider an economy with the general Cobb-Douglas production function: = 1 The equation describing capital dynamics is: +1 = + Where d is a constant parameter that captures the depreciation rate. Investment follows a behavioural equation as discussed in class, ie, a constant’s’ fraction of output is invested in every period. the following questions assuming that labour grows at the rate n = 0 and adopting the assumptions made in lecture. Assume: s = 0.60, d = 0.10, a = 0.5, L= 1and A=1. a. The level of the interest rate in steady state is 20.41% b. The level of the interest rate in steady state is 8.33% c. The level of the interest rate in steady state is 40.82% d. More information is required to compute the interest rate in equilibrium e. The level of the interest rate in steady state is 18% Question 70 Select the best option a. The level of the consumption in equilibrium is 3.6 The level of the consumption in equilibrium is 2.4 b. The level of the consumption in equilibrium is 6 c. The level of the consumption in equilibrium is not possible to compute Oe. The level of the consumption in equilibrium is 24 HD EDUCATION Question 71 Select the best option: a. The level of the investment in equilibrium is 36 b. The level of the investment in equilibrium is 63 c. The level of the investment in equilibrium is 3.6 d. The level of the investment in equilibrium is 60 e. The level of the investment in equilibrium is 6.3 Question 72 Select the best option: a. The level of Capital in steady state is 36 b. The level of Capital in steady state is 6 3 2 c. The level of Capital in steady state is 6 1 2 d. The level of Capital in steady state is 12 e. The level of Capital in steady state is 6 Question 73 Select one: a. The level of Output in steady state is 6 1 2 b. The level of Output in steady state is 6 3 2 c. The level of Output in steady state is 12 d. The level of Output in steady state is 6 e. The level of Output in steady state is 36 Question 74 Consider the following production data for Italy and France: Italy France Labour force 50 180 Bottles of wine per worker 80 25 Wheels of cheese per worker 8 2 Assume Free Trade and that each country spends half of their income in each good. Please consider wine to be the numeraire good. Choose the best alternative based on the information from the previous Table. The next questions are based on the information displayed on this table. a. Under Free Trade, the relative price of cheese is 0.09 b. Under Free Trade, a French worker consumes 1.11 wheels of cheese. c. Under Free Trade, an Italian worker drinks 54 bottles of wine. d. Under Free Trade, the wage on Italian workers is 25 e. Under Free Trade, Italy specialises in wine Question 75 Select one a. Under Autarky, the price of cheese in Italy is 10 HD EDUCATION b. Under Autarky, the price of wine in France is 100 c. Under Autarky, the price of wine in Italy is 10 d. Under Autarky, the price of cheese in France is 10 e. Under Autarky, the price of cheese in France is 20 Question 76 Select one a. Italy has a comparative advantage in the production of wine b. There is no incentive for trade in this economy c. Italy has an absolute advantage in the production of wine d. France has a comparative advantage in the production of cheese e. Italy has an absolute advantage in the production of cheese Question 77 Select one a. Under Free Trade, the increase in wage in Italy (with respect to Autarky) is 5 bottles b. Under Free Trade, the increase in wage in Italy (with respect to Autarky) is 15 bottles c. Under Free Trade, the increase in wage in Italy (with respect to Autarky) is 20 bottles d. Under Free Trade, the increase in wage in Italy (with respect to Autarky) is -5 bottles e. Under Free Trade, the increase in wage in Italy (with respect to Autarky) is 10 bottles Reference: Jones, C.I. (2014). Test Bank for Macroeconomics, 4th Edition. New York; London W.W. Norton & Company. HD EDUCATION 第 步 关注【 海道教育】 服务号 第 步 点击 【 购买通知】 或【 上课提醒】 课程结束后， 如果您对课程或者服务的任何建议和意 请给予我们提 和改进的机会， 感谢您对 HD · EDUCATION 课程和服务的信任！ 第三步 【 填写问卷】