课程名称︰经济学乙 课程性质︰政治系大二必修 课程教师︰李晓云 开课学院：社会科学院 开课系所︰政治系 考试日期（年月日）︰2012/4/27 考试时限（分钟）：120 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : *Eight questions(two faces).Please check before you answer. *Please write your answers on the answer sheet. *Out of 104 points. 一、(8%)We state the GDP accounts avoid double counting by including only the value of final goods and services sold on the market. Should the measure of imports used in the GDP accounts therefore be defined to include only imports of final goods and services from abroad? What about exports? 二、(12%)Table gives data for an economy in which there are three final goods: pizzas, staplers, and chewing gums. The market basket of goods used to compute the CPI consists of 7 units of pizza, 8 units of stapler and 12 units of chewing gum. Assume 2010 is the base year. ______________________________________ | | | | | | 2010 | 2011 | | |_______________|______________| | | Price|Quantity|Price|Quantity| |_______|______|________|_____|________| | | | | | | |pizza | 250 | 8 | 300 | 11 | |_______|______|________|_____|________| | | | | | | |stapler| 50 | 10 | 55 | 9 | |_______|______|________|_____|________| | | | | | | |chewing| | | | | | | 35 | 15 | 38 | 17 | | gum | | | | | |_______|______|________|_____|________| (1) Please calculate the GDP deflator.(4%) (2) What is the percentage increase in the CPI?(4%) (3) Why does the GDP deflator give a different rate of inflation than the CPI (4%) 三、(8%)Assume the following information for a closed economy. GDP=$13,757 billion; government purchases=$1,695 billion; and taxes=$1,000 billon; transfer payments to households=$165 billion; private saving=2,922 billion Please calculate investment, consumption, public saving(budget surplus or budget deficit), and quantity of loanable funds supplied. 四、(24%)Please use supply-and-demand of diagram in the loanable fund market to analyze these events. (1) The government budgets tend to go from surplus to deficit.(6%) (2) A new law that makes more people than before eligible for Individual Retirement Accounts.(6%) (3) The government budgets tend to go from deficit to surplus and the simultaneous enactment of an investment tax credit(6%) (4) If its government were to eliminate the consuption tax and replace it with an income tax that includes an income tax in interest from savings (6%) 五、(10%) Jeremy makes Firecrackers, which he sells in December each year for New Year's celebrations. He must decide how many firecracker production lines to install. Each production line costs $1 million and operates for only two years after which it must be replaced. With one production line, Jeremy expects to sell $900,000 worth of firecrackers a year. With two production lunes, he expects to sell $1,600,000 worth of firecrackers each year. And with three production lines, he expects to sell $2,000,000 worth of firecrackers a year. The interest rate is 7% a year. How many production lines does Jeremy install? Show your answer. 六、(12%)Values of Assets ___________________________________________________ | | | | Asset |Amount in $Billions| |______________________________|___________________| | | | |Time deposits | 7,780 | |______________________________|___________________| | | | |Passbook savings deposits | 7,504 | |______________________________|___________________| | | | |Demand deposits | 2,855 | |______________________________|___________________| | | | |Checkable deposits | 334 | |______________________________|___________________| | | | |Time savings deposits | 4,981 | |______________________________|___________________| | | | |Travler's checks | 50 | |______________________________|___________________| | | | |Money market mutual funds | 1,568 | |______________________________|___________________| | | | |Currency held by the public | 1,323 | |______________________________|___________________| | | | |Postal savings deposits | 4,793 | |______________________________|___________________| | | | |Miscellaneous categories of M2| 3,398 | |______________________________|___________________| | | | |Currency | 2,963 | |______________________________|___________________| (1) What is the value of M1A?(4%) (2) What is the value of M2?(4%) (3) What is the value of vault cash held by monetary finacial institutions ?(4%) 七、(12%)Please answer the following questions. (1) Assume that Wang deposits $5,000 in currency in the ABC Bank. Later the same day Lin negotiates a loan for $80,000 at the same bank. In what direction and by what amount has the supply of money changed?(4%) (2) Assume that the required reserve ratio is 10%. If banking system increases $50,000 in excess reservers, by how much can the banking system increase deposit?(4%) (3) The banking system receives a new cash deposit of $200,000. Total deposits eventually rise by $1 million. What is the value of the reserve ratio?(4%) 八、(18%) Explain how each of the following changes the money market in the long run. Please use the quantity theory of money. (1) More people to travel during the Lunar New Year.(6%) (2) An increase in the returns on government bond.(6%) (3) The central bank buys foreign currencies in the foreign exchange market.(6%) --

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