课程名称︰经济学二 课程性质︰通识A5 课程教师︰陈虹如 开课学院：社会科学院 开课系所︰经济学系 考试日期（年月日）︰2017/12/11 考试时限（分钟）：50 试题 : (100 points total; 50 mins) ● Please write your answer on the answer sheet. ● Write your name(1%) and student ID(1%) and 系级(1%) as well. ● You can use pencil or pen in black or blue. ● You can leave after you hand in answer sheet. -------------------------------------------------------- 1. How would the following transactions affect the U.S. net capital outflow? State whether each involves direct investment or portfolio investment? a) (5%) Honda expands its factory in Marysville, Ohio. b) (8%) Harrods of London sells stock to the General Electric pension fund. 2. Suppose that this year's money supply is $500 billion, nominal GDP is $10 trillion, and real GDP is $5 trillion. a) (8%) What is the price level? What is the velocity of money? b) (8%) Suppose that velocity is constant and the economy's output of goods and services rises by 5 percent each year. What will happen to nominal GDP and the price level next year if the Fed keeps the money supply constant? c) (8%) 承(b)题, what money supply should the Fed set next year if it wants inflation of 10 percent? 3. Suppose that changes in bank regulations expand the availability of credit cards so that people need to hold less cash. a) (10%) How does this event affect the demand for money? b) (10%) If the Fed does not respond to this event, what will happen to the price level? (要画图解释) c) (10%) If the Fed wants to keep the price level stable, what should it do? (要画图解释) 4. (15%) Assume that the reserve requirement is 5 percent. All other things being equal, will the money supply expand more if the Fed buys $2,000 worth of bonds or if someone deposits in a bank $2,000 that she had been hiding in her cookie jar? If one creates more, how much more does it create? Explain. (3个答案：① Fed　② someone　③ 比大小) 5. (15%) The economy of Elmo contains 2,000 $1 bills. If people hold equal amounts of currency and demand deposits and banks remain a reserve ratio of 10 percent, what is the quantity of money? --

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