increas

MACROCHAPTER11TESTQUESTIONS微观经济学答案

MACROCHAPTER11TESTQUESTIONS

Chapter11

Spending,Output,andFiscalPolicyMultipleChoiceQuestions

umptionthatfirmsmeetthedemandfortheirproductsatpretpricesisthekeyassumptionuponwhich______is

built.

icKeynesianmodel

'sLaw

plyanddemandmodel

tyequationformoney

icKeynesianmodelisbuiltonthekeyassumptionthat:

stsarenotsignificant.

eetthedemandfortheirproductsatpretprices.

ricetheirproductssoastoeapretquantityofoutput.

arepreventedfromchangingfrequentlybygovernmentregulations.

ethattheownerofalocalicecreamstore,knowingthatdemandforicecreamishigherwhentheweatheris

warmer,alwayschargesapriceincentsforascoopoficecreamthatiqualtotwotimesthecurrentoutdoortemperature,

measuredinFahrenheit(sothatifitis90degreesoutside,theicecreamis$1.80perscoop).Thistypeofbehavioris

______.

ythetypeofbehaviorthatKeynesbelievedmostfirmxhibit

smeetingdemand

istentwiththekeyassumptionuponwhichthebasicKeynesianmodelisbuilt

ommenucosts

eynesianmodel,itisassumedthat,whendemandforafirm'sproductchanges,thefirm:

spricestomeetthedemand.

sproductionlevelstomeetthedemand.

spricesandproductionlevelstomeetdemand.

sprices,butholdproductionlevelsconstanttomeetthedemand.

isionwhethertochangepricesfrequentlyorinfrequentlyisanapplicationofthe:

pleofcomparativeadvantage.

typrinciple.

pleofincreasingopportunitycost.

-benefitprinciple.

stsarethecostsof:

garestaurant.

ngprices.

singaggregatedemand.

ngproduction.

onotchangepricesfrequentlybecau:

relegalprohibitionsagainstdoingso.

siertochangethequantityofcapitaludinproduction.

stlytodoso.

erswillrefutopatronizefirmsthatchangepricesfrequently.

daggregateexpenditureistotal:

ddedintheeconomy.

dspendingonfinalgoodsandrvices.

ofhouholds,business,governments,andforeigners.

efromthesaleofgoodsandrvices.

rcomponentsofplannedaggregateexpenditureare:

ngondomesticgoods,domesticrvices,foreigngoods,andforeignrvices.

ngondurablegoods,inventoryinvestment,governmentdebt,andnetexports.

ption,plannedinvestment,governmenttransfers,andnetinterest.

ption,plannedinvestment,governmentpurchas,andnetexports.

hefollowingwouldbeincludedinplannedaggregateexpenditureEXCEPT:

ngonconsumerdurables.

dchangesininventories.

fdomesticallyproducedgoodstoforeigners.

stpaidonthegovernmentdebt.

hefollowingwouldbeincludedinplannedaggregateexpenditureEXCEPT:

sofrvicesprovidedbygovernmentemployees.

dchangesininventories.

fdomesticallyproducedgoodstoforeigners.

curitypayments.

dinvestmentmaydifferfromactualinvestmentbecauof:

singovernmentpurchasandnetexports.

ginalpropensitytoconsume.

nedchangesininventories.

ationsinpretprices.

slllessthanexpected,actualinvestmentincreasbecau_____,whichiscountedasinvestment.

oldgoodsareaddedtoinventory

ernmentbuystheunsoldgoods

oldgoodsaredistributedtopoorhouholds

oldsbuytheunsoldgoodsarebargainprices

asicKeynesianmodelallofthefollowingaretrueEXCEPT:

dconsumptionalwayqualsactualconsumption.

dinvestmentalwayqualsactualinvestment.

dgovernmentspendingalwayqualsactualgovernmentspending.

dnetexportsalwayqualactualnetexports.

'sMirrorCompanyexpectstoll$1,000,000worthofmirrorsandtoproduce$1,250,000worthofmirrorsinthe

panypurchas$300,ortheyearturnouttobe

$900,investmentbyDave'sMirrorCompanyequals______andplannedinvestmentequals_______.

A.$250,000;$150,000

B.$300,000;$200,000

C.$550,000;$450,000

D.$650,000;$550,000

sllmoreoutputthanexpected,plannedinvestment:

terthanactualinvestment.

thanactualinvestment.

actualinvestment.

zero.

slllessoutputthanexpected,plannedinvestment:

terthanactualinvestment.

thanactualinvestment.

actualinvestment.

zero.

nedinventoryinvestmentequalszerowhen

dinvestmentisgreaterthanactualinvestment.

dinvestmentislessthanactualinvestment.

dinvestmentequalsactualinvestment.

edsalesaregreaterthanactualsales.

tualinvestmentisgreaterthanplannedinvestment:

oldlessoutputthanexpected.

oldmoreoutputthanexpected.

ntityofoutputsoldistheamountthefirmexpectedtoll.

nomyproducesshort-runequilibriumoutput.

tualinvestmentislessthanplannedinvestment:

oldlessoutputthanexpected.

oldmoreoutputthanexpected.

ntityofoutputsoldistheamountthefirmexpectedtoll.

nomyproducesshort-runequilibriumoutput.

daggregateexpenditure(PAE)equals:

A.C+Ip+G+NX.

+I+G+NX.

C.C+I+Gp+NX.

D.C+I+G+NXp.

22.C+Ip+G+NXequals:

daggregateexpenditure.

ialGDP.

putgap.

ome-expendituremultiplier.

gestcomponentofplannedaggregateexpenditureis:

ption.

ment.

mentpurchas.

s.

sumptionfunctionisrelationshipbetweenconsumptionand:

daggregateexpenditure.

pending.

ment.

erminants,suchasdisposableincome.

eynesianmodel,consumptiondependson:

rthegovernmenthasabudgetsurplusordeficit.

ialoutput.

uralrateofunemployment.

ableincome.

partsoftheKeynesianconsumptionfunctionareconsumptionthatdependson______andconsumptionthat

dependson_____.

ableincome;factorsotherthandisposableincome

dspending;unplannedspending

come;nominalincome

;wealth

peoftheconsumptionfunction:

ical.

zontal.

1.

thempc.

ticalinterceptoftheconsumptionfunctionequals______andtheslopeequals_____.

;autonomousconsumption

mousconsumption;thempc

lannedcomponentofconsumption;theplannedcomponentofconsumption

nnedcomponentofconsumption;theunplannedcomponentofconsumption

osableincomeincreas,consumption:

s.

s.

herincreaordecreadependingonthewealtheffect.

herincreaordecreadependingonthempc.

osableincomedecreas,consumption:

s.

s.

herincreaordecreadependingonthempc.

herincreaordecreadependingonthewealtheffect.

dencyofchangesinastpricestoaffectspendingonconsumptiongoodsiscalledthe

______effect.

tution

lier

icallyspeaking,aonedollardecreainhouholdwealthwillcauconsumerspendingtofallby:

A.$0.03to$0.07.

B.$0.30to$0.70.

C.$3.00to$7.00.

D.$30.00to$70.00.

ethestockmarketcrashed,wipingout$tentwitheconomicmodelsbad

onhistoricaltrends,consumptionspendingmightfallbyasmuchas,butprobablynotmorethan,______.

A.$35billion

B.$200billion

C.$350billion

D.$2trillion

sinautonomousconsumptioncouldbetheresultof:

sindisposableincome.

sininflation.

sinthempc.

sinhousingprices.

ainstockpricesalterstheconsumptionfunctionby:

singthempc.

singthempc.

singtheconstantterm.

singtheconstantterm.

usingpricesdecrea,houholdwealth_____,andconsumption_____.

s;increas

s;decreas

s;decreas

s;increas

ginalpropensitytoconsume(mpc)isthe:

bywhichdisposableincomeincreaswhenconsumptionincreasby$1.

bywhichconsumptionincreaswhendisposableincomeincreasby$1.

tagebywhichconsumptionincreaswhendisposableincomeincreasby1%.

tagebywhichdisposableincomeincreaswhenconsumptionincreasby1%.

umptionincreasby$9whenafter-taxdisposableincomeincreasby$10,themarginalpropensitytoconsume

(mpc)equals:

A.0.1.

B.0.9.

C.1.0.

D.9.0.

arginalpropensitytoconsumeequals0.75,thena$100increainafter-taxdisposableincomeleadstoa

______increainconsumption.

A.$13.33

B.$25

C.$75

D.$133

after-taxincomeandconsumptionspendingfortheAdamSmithfamilyaregivenbelow:

Badonthedata,theAdamSmithfamilyhasamarginalpropensitytoconsumeof:

A.0.9.

B.0.8.

C.0.75.

D.0.6.

tionofplannedaggregateexpenditurethatisindependentofoutputiscalled______expenditure.

ial

d

mous

mouxpenditureistheportionofplannedaggregateexpenditurethat:

aggregateoutput.

plannedspending.

inducedexpenditure.

pendentofoutput.

dexpenditureistheportionofplannedaggregateexpenditurethat:

aggregateoutput.

plannedspending.

autonomouxpenditure.

sonoutput.

partsofplannedaggregateexpenditureare______expendituresand______expenditures.

;nominal

ed;deflated

mous;induced

ve;normative

aloutputincreas,plannedaggregateexpendituresincreabecau:

mouxpendituresincrea.

mouxpendituresdecrea.

dexpendituresincrea.

dexpendituresdecrea.

aloutputdecreas,plannedaggregateexpendituresdecreabecau:

mouxpendituresincrea.

mouxpendituresdecrea.

dexpendituresincrea.

dexpendituresdecrea.

olandautonomousconsumptionequals100,themarginalpropensitytoconsumeequals0.75,nettaxesarefixed

at40,plannedinvestmentisfixedat50,governmentpurchasarefixedat150,d

expenditureequals:

A.0.25Y.

B.320+0.25Y.

C.0.75Y.

D.290+0.75Y.

olandautonomousconsumptionequals100,themarginalpropensitytoconsumeequals0.75,nettaxesarefixed

at40,plannedinvestmentisfixedat50,governmentpurchasarefixedat150,mous

expenditureequals:

A.320.

B.320+0.25Y.

C.290.

D.290+0.75Y.

olandautonomousconsumptionequals100,themarginalpropensitytoconsumeequals0.75,nettaxesarefixed

at40,plannedinvestmentisfixedat50,governmentpurchasarefixedat150,d

aggregateexpenditureequals:

A.290+0.25Y.

B.320+0.25Y.

C.320+0.75Y.

D.290+0.75Y.

olandautonomousconsumptionequals100,themarginalpropensitytoconsumeequals0.75,nettaxesarefixed

at40,plannedinvestmentisfixedat50,governmentpurchasarefixedat150,peof

theExpenditureLineis:

A.0.25.

B.0.75.

C.290.

D.320.

olandautonomousconsumptionequals100,themarginalpropensitytoconsumeequals0.75,nettaxesarefixed

at40,plannedinvestmentisfixedat50,governmentpurchasarefixedat150,tical

interceptoftheExpenditureLineis:

A.0.25.

B.0.75.

C.290.

D.320.

landautonomousconsumptionequals700,themarginalpropensitytoconsumeequals0.80,nettaxesarefixed

at50,plannedinvestmentisfixedat100,governmentpurchasarefixedat100,d

expenditureequals:

A.0.20Y.

B.990+0.20Y.

C.0.80Y.

D.900+0.80Y.

landautonomousconsumptionequals700,themarginalpropensitytoconsumeequals0.80,nettaxesarefixed

at50,plannedinvestmentisfixedat100,governmentpurchasarefixedat100,andnetexportsarefixedat40.

Autonomouxpenditureequals:

A.990.

B.940.

C.900.

D.890.

landautonomousconsumptionequals700,themarginalpropensitytoconsumeequals0.80,nettaxesarefixed

at50,plannedinvestmentisfixedat100,governmentpurchasarefixedat100,d

aggregateexpenditureequals:

A.990+0.20Y.

B.900+0.80Y.

C.940+0.80Y.

D.990+0.80Y.

landautonomousconsumptionequals700,themarginalpropensitytoconsumeequals0.80,nettaxesarefixed

at50,plannedinvestmentisfixedat100,governmentpurchasarefixedat100,pe

oftheExpenditureLineis:

A.0.20.

B.0.80.

C.0.90.

D.0.99.

landautonomousconsumptionequals700,themarginalpropensitytoconsumeequals0.80,nettaxesarefixed

at50,plannedinvestmentisfixedat100,governmentpurchasarefixedat100,tical

interceptoftheExpenditureLineis:

A.890.

B.900.

C.940.

D.990.

-runequilibriumoutputisthelevelofoutputatwhichactualoutput:

potentialoutput.

zesfirmprofits.

realGDPpercapita.

plannedaggregateexpenditure.

icesarepredetermined,thelevelofoutputthatequalsplannedaggregateexpenditureiscalled______output.

uralrateof

ial

-runequilibrium

d

oland,autonomousconsumptionequals100,themarginalpropensitytoconsumeequals0.75,nettaxesarefixed

at40,plannedinvestmentisfixedat50,governmentpurchasarefixedat150,-run

equilibriumoutputinthiconomyequals:

A.1,000.

B.1,160.

C.1,280.

D.1,440.

outputandplannedaggregateexpenditureinMacrolandaregivenbelow.

Badonthedata,theshort-runequilibriumlevelofoutputis_____.

A.2,000

B.3,200

C.4,100

D.5,000

hortrunwithpredeterminedprices,whenoutputisgreaterthanplannedaggregateexpenditure:

ialoutputisgreaterthanshort-runequilibriumoutput.

ialoutputislessthanshort-runequilibriumoutput.

dinvestmentislessthanactualinvestment.

dinvestmentisgreaterthanactualinvestment.

hortrunwithpredeterminedprices,whenoutputislessthanplannedaggregateexpenditure:

ialoutputisgreaterthanshort-runequilibriumoutput.

ialoutputislessthanshort-runequilibriumoutput.

dinvestmentislessthanactualinvestment.

dinvestmentisgreaterthanactualinvestment.

hortrunwithpredeterminedprices,whenoutputisgreaterthanplannedaggregateexpenditure,firmswill:

production.

production.

plannedaggregateexpenditure.

plannedaggregateexpenditure.

hortrunwithpredeterminedprices,whenoutputislessthanplannedaggregateexpenditure,firmswill:

production.

production.

plannedaggregateexpenditure.

plannedaggregateexpenditure.

eynesiancrossdiagram,the______linerelatesplannedaggregateexpendituretooutputandthe______line

reprentstheconditionthatplannedaggregateexpenditureequalsshort-runequilibriumoutput.

ptionfunction;45?

B.45?;consumptionfunction

iture;45?

D.45?;expenditure

eynesiancrossdiagram,theverticalinterceptoftheexpenditurelineequals______andtheslopeofthe

expenditurelineequals_____.

dexpenditures;autonomouxpenditures

mouxpenditures;inducedexpenditures

dspending;unplannedspending

mouxpenditures;thempc

nthefigure,whenPAE=200+0.5Y,short-runequilibriumoutputequals:

A.1,200.

B.400.

C.600.

D.800.

nthefigure,whenPAE=400+0.5Y,short-runequilibriumoutputequals:

A.1,200.

B.400.

C.600.

D.800.

nthefigure,whenPAE=600+0.5Y,short-runequilibriumoutputequals:

A.1,200.

B.400.

C.600.

D.800.

nthefigure,theincomeexpendituremultiplierequals:

A.0.5.

B.2.

C.5.

D.200.