课程名称︰经济学二 课程性质︰A5通识 课程教师︰李显峰 开课学院：社会科学院 开课系所︰经济系 考试日期（年月日）︰2012.4.18 考试时限（分钟）：150分钟 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : 一、Multiple Choice: Please select the correct one answer.(50%, each gets 2.5%) 1.Mr.Lin is an unpaid worker in his family's bakery. The Statistics Bureau of the Government counts Mr.Lin as (A) unemployed and in the labor force. (B) unemployed and not in the labor force. (C) employed and in the labor force. (D) employed and not in the labor force. 2.When the Central bank buys government bonds, the reserves of the banking system (A) increase, so the money supply increases. (B) increase, so the money supply decreases. (C) decrease, so the money supply increases. (D) decrease, so the money supply decreases. 3.According to liquidity theory(流动性偏好理论，即对货币流动性需求), (A) an increase in the interest rate reduces the quantity of money demanded. This is shown as a movement along the money-demand curve. An increase in the price level shifts money demand to the right. (B) an increase in the interest rate increases the quantity of money demanded. This is shown as a movement along the money-supply curve. An increase in the interest rate shifts money demand leftward. (C) an increase in the price level reduces the quantity of money demanded. This is shown as a movement along the money-supply curve. An increase in the interest rate shifts money demand rightward. (D) an increase in the price level increases the quantity of money demanded. This is shown as a movement along the money-demand curve. An increase in the rate shifts money demand leftward. 4.The CPI is a measure of the overall cost of the goods and services bought by (A) a typical consumer, and the CPI is computed and reported by the Department of the Treasury. (B) typical consumers and typical business firms, and the CPI is computed and reported by the Department of the Treasury. (C) a typical consumer, and the CPI is computed and reported by the Bureau of Labor Statistics. (D) typical consumers and typical business firms, and the CPI is computed and reported by the Bureau of Labor Statistics. 5.Suppose a bastet of goods and services has been selected to calculate the CPI and 2002 has been selected as the base year. In 2002, the basket's cost was $50; in 2004, the basket's cost was $52; and in 2006, the basket's cost was $57.25. The value of the CPI in 2006 was (A) 91.6 (B) 104.6 (C) 109.2 (D) 114.5 6.Suppose the price index was 105 in 2007, 115.5 in 2008, and the inflation rate was lower between 2008 and 2009 than it was between 2007 and 2008. This means that (A) the price index in 2009 was lower than 115.5. (B) the price index in 2009 was lower than 126. (C) the price index in 2009 was lower than 127.05. (D) the inflation rate between 2008 and 2009 was lower than 1.1 percent. 7.The introduction of a new good (A) increase the cost of maintaining the same level of economic well-being (B) decrease the cost of maintaining the same level of economic well-being (C) has no impact on the cost of maintaining the same level of economic well-being. (D) may increase or decrease the cost of maintaining the same level of economic well-being, depending on how expensive the new good is. 8.According to the circula-flow diagram GDP (A) can be computed as the total income paid by firms or as expenditures on final goods and services. (B) can be computed as the total income paid by firms, but not as expenditure on final goods and services. (C) can be computed as expenditure on final goods and services,but not as the total income paid by firms. (D) cannot be computed as either total income paid by firms or expenditure on final goods and services. 9.The value of the housing services provided by the economy's owner-occupied houses is (A) included in GDP, and the estimated rental values of the houses are used to place a value on these housing services. (B) included in GDP, and the actual mortgage payments made on the houses are used to estimate the value of these rental services. (C) exclude from GDP since these services are not sold in any market. (D) exclude form GDP since the value of these housing services cannot be estimated with any degree of precision. 10.Estimates of the values of which of the following non-market goods or services are included in GDP? (A) the value of unpaid housework (B) the value of services provided by major household appliances purchased in a previous period (C) the estimated rental value of owner-occupied homes (D) All of the above are included in GDP 11.Suppose there are only two firms in an economy: Cowhide, Inc. produces leather and sells it to Couches, Inc., which produces and sells leather furniture. With each $1,000 of leather that it buys from Cowhide, Inc, Couches, Inc. produces a couch and sells it for $3,000. Neither firm had any inventory at the beginning of 2009. During that year, Cowhide produced enough leather for 20 couches. Couches, Inc. bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. Couches, Inc. produced 16 couches during 2009 and sold each one during that year for $3,000. What was the economy's GDP for 2009? (A) $48,000 (B) $52,000 (C) $64,000 (D) $68,000 12.Chen and Lee both live in Taipei. A new-car dealer in Taipei bought a new car from the manufacturer for $18,000 and sold it to Chen for $22,000. Later that year, Chen sold the car to Lee for $17,000. By how much did these transactions contribute to Taiwan GDP for the year? (A) $18,000 (B) $22,000 (C) $39,000 (D) $57,000 13.A Taiwan company operates a fast food restaurant in Paris, France. Which of the following statements is accurate? (A) The value of the goods and services produces by the restaurant is included in both France GDP and Taiwan GDP. (B) The value added by Taiwan workers and equipment in France is included in Taiwan GDP and the value added by France workers and equipment is added in France GDP. (C) The value of the goods and services produces by the restaurant is included in France GDP, but not in Taiwan GDP. (D) The value of the goods and services produces by the restaurant is included in Taiwan GDP, but not in France GDP. 14.The classical model is appropriate for analysis of the economiy in the (A) long run, since evidence indicates that money is not neutral in the long run. (B) long run, since real and nominal variables are essentially determined separately in the long run. (C) short run, provided money is not neutral. (D) short run, provided real and nominal variables are highly intertwined. 15. 同14. 16. Which of the following shifts aggregate demand to the right? (A) a decrease in the money supply (B) increase in the profitability of capital due perhaps to technological progress (C) the repeal of an investment tax credit (D) a decrease in the price level 17. Which of the following would cause prices and real GDP to rise in the short run? (A) an increase in the expected price level (B) an increase in the money supply (C) a decrease in the capital stock (D) None of the above is correct 18.If the economy is initially at long-run equilibrium and aggregate demand declines, then in the long run the price level (A) and output are higher than in the original long-run equilibrium. (B) and output are lower than in the original long-run equilibrium. (C) is lower and output is the same as the original long-run equilibrium. (D) is the same and output is lower than in the original long-run equilibrium. 19.The shift of the short-run aggregate-supply curve from AS1 to AS2 (A) could be caused by an outbreak of war in the Middle East. (B) could be caused by a decrease in the expected price level. (C) causes the economy to experience an increase in the unemployment rate. (D) causes the economy to experience stagflation. 20.Suppose the economy is in long-run equilibrium. Then because of corporate scandal, international tensions, and loss of confidence in policymakers, people become pessimistic regarding the future and retain that level of pessimism for some time. What happens to the expected price level and what's the result for wage bargaining? (A) The expected price level rises. Bargains are struck for higher wages. (B) The expected price level rises. Bargains are struck for lower wages. (A) The expected price level falls. Bargains are struck for higher wages. (A) The expected price level falls. Bargains are struck for lower wages. 二、Problems(50%) 1.(15%) Suppose Carl deposits $8,000 in cash into his checking account at the bank of Bonju. The Bank of Bonju has no excess reserves and is subject to a 5 percent required ratio. (1) Show this transaction in a T-account for the Bank of Bonju. (2) Assume the Bank of Bonju makes a maximum loan possible from Carl's deposit to Mary and show this transaction in a new T-account. (3) Mary decides to use the money she borrowed to take a trip to Alaska. She writes a check for the entire loan amount to the Iceberg Paradise Travel Agency, which deposits the check in the Bank, the Bank of Safety, Taipei. When the check clears, the Bank of Bonju transfers the funds to the bank of Safty. Show these transaction in a new T-account for the Bank of Safety. (4) What is the maximum amount of deposits that can be createdfrom Carl's initial deposit? (5) What is the maximum amount of loans that can be created from Carl's initial deposit. 2.(15%) 若幸福国的一般物价水准不变，其凯恩斯总体经济模型(the Keynesian Macroeconomic Model)如下: 民间消费函数 C = 2000 + 0.5Yd 民间毛投资 I = 1000 政府消费支出 G = 800 出口 X = 1400 进口函数 IM = 400 + 0.2Y 所得税函数 T = 100 + 0.2Y(所得税税率T = 0.2) 式中Y是实质GDP，Yd是可支配所得。试求： (1) 政府消费及投资支出函数 ΔY/ΔG。 (2) 若幸福国的充分就业GDP水准 Yf = 6300，则民间投资I需增加或减少至若干才能 达到充分就业水准? (3) 政府追求所得分配平均，将所得税的边际税率由0.2提高为0.25，则均衡GDP水准 将增加或减少至若干? 3.(20%) Using aggregate supply and aggregate demand curves(the SAS/LAS/AD model) to illustrate, describe the effects of the following events on the price level and on equilibrium GDP in the long run assuming that input prices fully adjust to output prices after some lag: (1) An increase occurs in the money supply above potential GDP. (2) A decrease in government spending and in the money supply with GDP above potential GDP occurs. (3) Starting with the economy at potential GDP, a war in the Middle East pushes up eneygy prices temporarily. The Central Bank expands the money supply to accommodate the inflation. (4) Why expand the Central Bank of Japan and the Federal Reserve System in the USA the money supply with the non-traditional QE, quantitative easing, but don't reduce the basic interest rate? --

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