MACROCHAPTER11TESTQUESTIONS微观经济学答案MACRO CHAPTER 11 TEST QUESTIONS
Chapter 11
Spending, Output, and Fiscal Policy Multiple Choice Questions
1. The assumption that firms meet the demand for their products at pret prices is the key assumption upon which ______ is built.
A. the basic Keynesian model
B. Okun's Law英语谚语带翻译
C. the supply and demand model
D. quantity equation for money
2. The basic Keynesian model is built on the key assumption that:
A. menu costs are not significant.
B. firms meet the demand for their products at pret prices.
C. firms price their products so as to e a pret quantity of output.
D. prices are prevented from changing frequently by government regulations.
3. Suppo that the owner of a local ice cream store, knowing that demand for ice cream is higher when the weather is warmer, always charges a price in cents for a scoop of ice cream that is equal to two times the current outdoor temperature, measured in Fahrenheit (so that if it is 90 degrees outside, the ice cream is $1.80 per scoop). This type of behavior is
______.
A. exactly the type of behavior that Keynes believed most firms exhibit
B. known as meeting demand
C. inconsistent with the key assumption upon which the basic Keynesian model is built
D. free from menu costs
4. In the Keynesian model, it is assumed that, when demand for a firm's product changes, the firm:
A. changes prices to meet the demand.
B. changes production levels to meet the demand.
C. changes prices and production levels to meet demand.
D. changes prices, but hold production levels constant to meet the demand.
5. The decision whether to change prices frequently or infrequently is an application of the:
A. principle of comparative advantage.
B. scarcity principle.
C. principle of increasing opportunity cost.
D. cost-benefit principle.
6. Menu costs are the costs of:
A. running a restaurant.
B. changing prices.
C. increasing aggregate demand.
D. changing production.
7. Firms do not change prices frequently becau:
A. there are legal prohibitions against doing so.
B. it is easier to change the quantity of capital ud in production.
C. it is costly to do so.
D. customers will refu to patronize firms that change prices frequently.
8. Planned aggregate expenditure is total:
A. value added in the economy.
B. planned spending on final goods and rvices.
C. income of houholds, business, governments, and foreigners.
D. revenue from the sale of goods and rvices.
9. The four components of planned aggregate expenditure are:
clean的过去式A. spending on domestic goods, domestic rvices, foreign goods, and foreign rvices.
B. spending on durable goods, inventory investment, government debt, and net exports.
C. consumption, planned investment, government transfers, and net interest.
D. consumption, planned investment, government purchas, and net exports.
10. All of the following would be included in planned aggregate expenditure EXCEPT:
A. spending on consumer durables.
B. planned changes in inventories.
C. sales of domestically produced goods to foreigners.
D. interest paid on the government debt.
11. All of the following would be included in planned aggregate expenditure EXCEPT:
A. purchas of rvices provided by government employees.
B. planned changes in inventories.
new eggC. sales of domestically produced goods to foreigners.
D. social curity payments.
12. Planned investment may differ from actual investment becau of:
A. changes in government purchas and net exports.
B. the marginal propensity to consume.
C. unplanned changes in inventories.
D. fluctuations in pret prices.
13. If firms ll less than expected, actual investment increas becau _____, which is counted as investment.
A. the unsold goods are added to inventory
B. the government buys the unsold goods
C. the unsold goods are distributed to poor houholds
D. houholds buy the unsold goods are bargain prices
14. In the basic Keynesian model all of the following are true EXCEPT:
A. planned consumption always equals actual consumption.
B. planned investment always equals actual investment.
C. planned government spending always equals actual government spending.
D. planned net exports always equal actual net exports.
15. Dave's Mirror Company expects to ll $1,000,000 worth of mirrors and to produce $1,250,000 worth of mirrors in the coming year. The company purchas $300,000 worth of new equipment during the year. Sales for the year turn out to be $900,000. Actual investment by Dave's Mirror Company equals ______ and planned investment equals _______.
A. $250,000; $150,000
B. $300,000; $200,000
C. $550,000; $450,000
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D. $650,000; $550,000
16. If firms ll more output than expected, planned investment:
A. is greater than actual investment.
B. is less than actual investment.
C. equals actual investment.
D. equals zero.
17. If firms ll less output than expected, planned investment:
白话翻译A. is greater than actual investment.
B. is less than actual investment.
C. equals actual investment.
D. equals zero.
18. Unplanned inventory investment equals zero when
破产姐妹下载A. planned investment is greater than actual investment.
B. planned investment is less than actual investment.
C. planned investment equals actual investment.
D. expected sales are greater than actual sales.
19. When actual investment is greater than planned investment:
A. firms sold less output than expected.
B. firms sold more output than expected.
C. the quantity of output sold is the amount the firm expected to ll.
D. the economy produces short-run equilibrium output.
20. When actual investment is less than planned investment:谈单技巧
A. firms sold less output than expected.
B. firms sold more output than expected.
C. the quantity of output sold is the amount the firm expected to ll.
curtD. the economy produces short-run equilibrium output.
21. Planned aggregate expenditure (PAE) equals:
A. C + I p + G + NX.
B. C p + I + G + NX.
C. C + I + G p + NX.
D. C + I + G + NX p.
22. C + I p + G + NX equals:专八真题
A. planned aggregate expenditure.
B. potential GDP.
C. the output gap.
yxq是什么意思D. the income-expenditure multiplier.
23. The largest component of planned aggregate expenditure is:
A. consumption.
B. investment.
C. government purchas.
D. exports.
24. The consumption function is relationship between consumption and:
A. planned aggregate expenditure.
B. total spending.
C. investment.
D. its determinants, such as disposable income.
25. In the Keynesian model, consumption depends on:
A. whether the government has a budget surplus or deficit.
B. potential output.
C. the natural rate of unemployment.
D. disposable income.
26. The two parts of the Keynesian consumption function are consumption that depends on ______ and consumption that depends on _____.
A. disposable income; factors other than disposable income
B. planned spending; unplanned spending
C. real income; nominal income
D. money; wealth
27. The slope of the consumption function:
A. is vertical.
B. is horizontal.
C. equals 1.
D. equals the mpc.
28. The vertical intercept of the consumption function equals ______ and the slope equals _____.
A. the mpc; autonomous consumption
B. autonomous consumption; the mpc
C. the unplanned component of consumption; the planned component of consumption
D. the planned component of consumption; the unplanned component of consumption
29. As disposable income increas, consumption:
A. increas.
B. decreas.
C. may either increa or decrea depending on the wealth effect.
D. may either increa or decrea depending on the mpc.
30. As disposable income decreas, consumption:
A. increas.
B. decreas.
C. may either increa or decrea depending on the mpc.
D. may either increa or decrea depending on the wealth effect.
31. The tendency of changes in ast prices to affect spending on consumption goods is called the
______ effect.
A. income
B. substitution
C. wealth
D. multiplier
32. Historically speaking, a one dollar decrea in houhold wealth will cau consumer spending to fall by:
A. $0.03 to $0.07.
B. $0.30 to $0.70.
C. $3.00 to $7.00.
D. $30.00 to $70.00.
33. Suppo the stock market crashed, wiping out $5 trillion of houhold wealth. Consistent with economic models bad on historical trends, consumption spending might fall by as much as, but probably not more than, ______.
A. $35 billion
B. $200 billion
C. $350 billion
D. $2 trillion
34. Changes in autonomous consumption could be the result of:
