课程名称︰经济学原理与实习下 课程性质︰必修 / 通识 A5* 课程教师︰魏凯立 开课学院：社会科学院 开课系所︰经济学系 考试日期（年月日）︰101/04/20 考试时限（分钟）：110 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : Multiple Choice Questions (4 points each) 1. Which of the following statements is true ? (a) GDP measures a country's production of goods, not services (b) GDP measures a country's wealth (c) GDP does not measure what is produced by domestic companies in foreign countries (d) GDP does not measure goods which have been produced, but not yet consumed 2. Which of the following goods would not be in the CPI basket ? (a) Shoes (b) Steel (c) Medical care (d) Gasoline (d) GDP does not measure goods which have been produced, but not yet consumed 3.Assume an interest rate of about 5%. What would be the present value of $1,000,000 to be received in the year 2040 ? (a) $4,000,000 (b) $2,000,000 (c) $500,000 (d) $250,000 4. Which group generally experiences the highest unemployment rate ? (a) Men nearing retirement age (b) Married women (c) Single women (d) Young men 5. Which of the following has been used as fiat money ? (a) New Taiwan Dollars (NT$) (b) Gold (c) Grain (d) Cigarettes 6. Why might the widespread use of efficency wages cause unemployment ? (a) Efficency wages raise wages so that the supply of labor exceeds demand (b) Efficency wages are usually inefficient (c) Efficency wages cause a decrease in worker's willingness to supply labor (d) Efficency wages decrease employers' willingness to hire laborers 7. What is"fundamental analysis" ? (a) The analysis of the recent changes in price of a company's stock (b) The analysis of a company's financial accounts and its future prospects (c) The analysis of changes in the volume and value of stock exchanged in a market compared with other stocks in the industry (d) A legal method of analyzing "inside" information concerning a corporation 8. Which of the following is an example of adverse selection ? (a) People with fire insurance will not buy expensive fire fighting equipment (b) Bankers will take greater risks if they know the government will rescue them in a crisis (c) People who are risk averse will not buy risky stocks (d) People who are young and healthy will not buy health insurance Short Answers (5 points each) 9. Give one example of an increase in human capital per worker 10. In one sentence, explain why there are diminishing returns to investment in physical capital 11. In one sentence, explain the difference between the nominal interest rate and the real interest rate 12. In one sentence, state what happens when a central bank conducts an open-market operation 13. If the money multiplier in the economy is 4, what is the reserve ratio ? 14. Explain in one sentence why employment insurance can create a moral hazard problem 15. Explain in one sentence why an investor might choose to diversify the stocks he owns ( his investment profolio ) 16. Assume all stock prices follow a random walk. If the price of TSMC's stock has risen in each of the last six trading sessions, roughly what is the chance the sttock's price will rise in the next trading session ? Longer Problems 17. A country produces coal, bread and clothing. In 2010, the country produced 100 tons of coal for NT$40,000 per ton, 50,000 loaves of bread for NT$40 per loaf and 10,000 outfits of clothes for NT$2,000 per outfit. In 2011, the country produced exactly the same amount it produced in 2010, but the price of coal doubled (to NT$80,000), the price of clothes stayed the same and the price of bread fell by half (to NT$20) (5*2 points) (a) What was nominal GDP in 2010 ? (b) What was nominal GDP in 2011 ? (c) If we use 2010 as the base year, what was the change in real GDP from 2010 to 2011 ? (d) What was the value of the GDP deflator in 2011 ? (e) If 2011 was the base year, what was the change in real GDP from 2010 to 2011 ? 18. Draw a diagram showing what what would happen in the market for loanble funds if the government decided to increase the tax on savings. (4 points) What would happen to interest rates and the amount of funds lent to investors ? (4 points) 19. Suppose a country's CPI basket consists of 20 units of bread, 10 units of meat and the rent for one housing unit. In 2008, the bread costs $25 per unit, the meat costs $35 per unit and rent costs $500 per housing unit. In 2012, bread now cost $30 per unit, meat cost $40 per unit and one unit of housing cost $300 (5 + 3 + 2 points) (a) If the value of the CPI was 100 in 2008, what is the CPI's value in 2015 ? (b) Has inflation or deflation occurred ? (c) To the nearest pecent, how much deflation or inflation has occurred per year ? --

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