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︰经济系 考试日期（年月日）︰101/04/13 考试时限（分钟）：60 是否需发放奖励金：是 （如未明确表示，则不予发放） 试题 : Instructions: This quiz takes for 60 minutes. Please write down any your answers in English. Translation machines and any calculators with memory function are not allowed. Part One: Multiple Choice (25 questions, 75%) Please write the best answer directly on your answer sheet. 1. What word do economists use to refer to the purchase of goods that will be used in the future to produce more goods and services? a. capital b. consumption c. investment d. costs 2. The table below contains data for the country of Daiwan for the year 2011. Household purchases of durable goods $1293 Household purchases of nondurable goods $1717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital equipment $310 Inventory changes $374 Purchases of new structures $611 Depreciation $117 Salaries of government workers $1422 Government expenditures on public works $553 Transfer payments $777 Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods $120 What was Daiwan’s GDP in 2011? a. $6359 b. $7136 c. $7253 d. $8147 3. Refer to the above. What was Daiwan’s investment in 2011? a. $1178 b. $1295 c. $1882 d. $1999 4. In general, the most volatile component of real GDP is: a. consumption spending b. government spending c. net export d. investment spending 5. The table below contains data for the country of Happyland, which produces only waffles and pancakes. The base year is 2006. What is Happyland’s GDP deflator in 2008? Year Price of Waffles Quantity of Waffles Price of Pancakes Quantity of Pancakes 2005 $2 100 $1 100 2006 $2 120 $2 150 2007 $3 150 $3 200 2008 $4 180 $3 220 a. 58.0. b. 100. c. 148.1. d. 172.5. 6. To which of the problems in CPI is the creation of the mobile phone most relevant? a. substitution bias b. introduction of new goods c. unmeasured quality change d. income bias 7. Suppose lawn mowers are part of the market basket used to compute the CPI. Suppose also that the quality of lawn mowers improves while the price of lawn mowers stays the same. If the Bureau of Labor Statistics is able to precisely adjust the CPI for the improvement in quality, then, other things equal, a. the CPI will rise. b. the CPI will fall. c. the CPI will stay the same. d. lawn mowers will no longer be included in the market basket. 8. In an imaginary economy, consumers buy only hot dogs and hamburgers. The fixed basket consists of 10 hot dogs and 6 hamburgers. A hot dog cost $3 in 2006 and $5.40 in 2007. A hamburger cost $5 in 2006 and $6 in 2007. Which of the following statements is correct? a. When 2006 is chosen as the base year, the consumer price index is 90 in 2007. b. When 2006 is chosen as the base year, the inflation rate is 150 % in 2007. c. When 2007 is chosen as the base year, the consumer price index is 100 in2006. d. When 2007 is chosen as the base year, the inflation rate is 50 % in 2007. 9. An important difference between the GDP deflator and the consumer price index is that a. the GDP deflator reflects the prices of goods and services bought by producers, whereas the consumer price index reflects the prices of goods and services bought by consumers. b. the GDP deflator reflects the prices of all final goods and services produced domestically, whereas the consumer price index reflects the prices of goods and services bought by consumers. c. the GDP deflator reflects the prices of all final goods and services produced by a nation's citizens, whereas the consumer price index reflects the prices of all final goods and services bought by consumers. d. the GDP deflator reflects the prices of all final goods and services bought by producers and consumers, whereas the consumer price index reflects the prices of all final goods and services bought by consumers. 10. Paul earned a salary of $50,000 in 2001 and $70,000 in 2006. The consumer price index was 177 in 2001 and 265.5 in 2006. Paul's 2006 salary in 2001 dollars is a. $35,000.00. b. $46,666.67. c. $61,950.00 d. $105,000.00. 11. Which of the following statements is true? a. The quantity of natural resources per worker can influence productivity. b. Technological knowledge and human capital are closely related. c. Over long periods of time, the prices of most natural resources are stable or falling, relative to other prices. d. All of the above are correct. 12.The traditional view of the production process is that capital is subject to a. constant returns. b. increasing returns. c. diminishing returns. d. diminishing returns for low levels of capital, and increasing returns for high levels of capital. 13. Compared to bondholders, stockholders a. face higher risk and have the potential for higher returns. b. face higher risk but receive a fixed payment. c. face lower risk and have the potential for higher returns. d. face lower risk but receive a fixed payment. 14. Which of the following is not the national saving of a closed economy? a. the sum of investment and net export. b. income minus the sum of consumption and government purchases. c. private saving plus public saving. d. investment. 15. According to the definitions of national saving and private saving, if Y, C, and G remained the same, an increase in taxes would a. raise both national saving and private saving. b. raise national saving and reduce private saving. c. leave national saving and private saving unchanged. d. leave national saving unchanged and reduce private saving. 16. For an imaginary closed economy, T = $5,000; S = $11,000; C = $50,000; and the government is running a budget deficit of $1,000. Then a. private saving = $10,000 and GDP = $54,000. b. private saving = $10,000 and GDP = $58,000. c. private saving = $12,000 and GDP = $67,000. d. private saving = $12,000 and GDP = $72,000. 17. In the language of macroeconomics, investment refers to a. saving. b. the purchase of new capital. c. the purchase of stocks, bonds, or mutual funds. d. All of the above are correct. 18. What would happen in the market for loanable funds if the government were to decrease the tax rate on interest income? a. The supply of and demand for loanable funds would shift right. b. The supply of and demand for loanable funds would shift left. c. The supply of and demand for loanable funds shift right and left respectively. d. None of the above is correct. 19. When you rent a car, you might treat it with less care than you would if it were your own. This is an example of a. market risk. b. moral hazard. c. adverse selection. d. risk aversion. 20. Sally buys health insurance because she knows that she has health risks that wouldn’t be obvious to an insurance company. This is an example of a. market risk. b. moral hazard. c. adverse selection. d. risk aversion. 21. U.S. Phones is considering buying new equipment to build a factory. If the interest rate rises, a. the present value of the returns from the factory will fall, so U.S. Phones will be less likely to build the factory. b. the present value of the returns from the factory will fall, so U.S. Phones will be more likely to build the factory. c. the present value of the returns from the factory will rise, so U.S. Phones will be less likely to build the factory. d. the present value of the returns from the factory will rise, so U.S. Phones will be more likely to build the factory. 22. Which of the following games might a risk-averse person be willing to play? a. a game where she has a 50% chance of winning $1 and a 50% chance of losing $1 b. a game where she has a 50% chance of winning $100 and a 50% chance of losing $100 c. a game where she has a 60% chance of winning $1 and a 40% chance of losing $1 d. a game where she has a 40% chance of winning $1 and a 60% chance of losing $1 23. Labor Data for Daiwan is shown in the following table Year 2004 2005 2006 Adult population 2000 3000 3200 Number of employed 1400 1300 1600 Number of unemployed 200 600 200 The labor force of Daiwan in 2005 was a. 1300. b. 1900. c. 2400. d. 3000. 24. Refer to the above table, the unemployment rate of Daiwan in 2004 was a. 10%. b. 12.5%. c. 14.3%. d. 80%. 25. Refer to the above table, the labor-force participation rate of Daiwan in 2006 was a. 50%. b. 53.3%. c. 56.25%. d. 88.9%. Part Two: True or False (5 questions, 35%) Please write your explanations briefly on your answer sheet. 1. Real GDP is a better gauge of economic well-being than is nominal GDP. 2. Bob deposits $100 in a bank account that pays an annual interest rate of 5%. A year later, Bob withdraws his $105. If deflation was 5% during the year the money was deposited, then Bob’s purchasing power has not changed. 3. A decrease in taxes on interest income would increase the interest rate. 4. Risk-averse persons will take no risks. 5. The unemployment rate reported by the Bureau of Labor Statistics clearly overstates the true unemployment rate. --

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