課程名稱︰經濟學二 課程性質︰A5通識 課程教師︰李顯峰 開課學院：社會科學院 開課系所︰經濟系 考試日期（年月日）︰2012.06.20 考試時限（分鐘）：150 是否需發放獎勵金：是 （如未明確表示，則不予發放） 試題 : 第一部份：單選題(每題2分，共60分) 1.Who is not included in the labor force by the Statistics Bureau(國家 統計局)? a. Calvin, who is on temporary layoff b. Michael, who has retired and is not looking for work c. Lauren, who does not have a job, but has applied for several in the last week d. None of the above is correct 2.Suppose the economy is in long-run equilibrium. In a short span of time, there is a decline in the money supply, a tax increase, a pessimistic revision of expectations about future business conditions, and a rise in the vaule of the dollar. In the short run, we would expect a. the price level and real GDP both to rise. b. the price level and real GDP both to fall. c. the price level and real GDP both to stay the same. d. All of the above are possible. 3.Suppose the real exchange rate is .80 pounds of bananas in Guatemala per pound of bananas in the U.S. If a pound of bananas in the U.S. costs $0.50, and the exchange rate is 8 Guatemalan Quetzals per dollar, what is the price of bananas in Guatemala? a. 3.20 Quetzals per pound b. 4.00 Quetzals per pound c. 5.00 Quetzals per pound d. 6.40 Quetzals per pound 4.Suppose that the nominal exchange rate is .80 euro per dollar, that the price of a basket of goods in the U.S. is $500 and the price of a basket of goods in Germany is 400 Euro. Suppose that these values change to 0.90 euro per dollar, $600, and 600 euro. Then the real exchange rate would a. appreciate which by itself would make U.S. net exports fall. b. appreciate which by itself would make U.S. net exports rise. c. depreciate which by itself would make U.S. net exports fall. d. depreciate which by itself would make U.S. net exports rise. 5.A Starbucks Grande Latte costs $3.75 in the U.S. and 28 yuan in China. The nominal exchange rate is 6.75 yuan per dollar. The real exchange rate is a. 1.106. If purchasing power partiy held the nominal exchange rate would be higher. b. 1.106. If purchasing power partiy held the nominal exchange rate would be lower. c. .904. If purchasing power partiy held the nominal exchange rate would be higher. d. .904. If purchasing power partiy held the nominal exchange rate would be lower. 6.Suppose that a small economy that produces mostly agricultural goods experiences a year with exceptionally good conditions for growing crops. The good weather would a. shift both the short-run aggregate supply and the short-run Phillips curve right. b. shift both the short-run aggregate supply and the short-run Phillips curve left. c. shift the short-run aggregate supply curve to the right, and the short-run Phillips curve to the left. d. shift the short-run aggregate supply curve to the left, and the short-run Phillips curve to the right. 7.The long-run response to an increase in the growth rate of the money supply is shown by shifting a. the short-run and long-run Phillips curves left. b. the short-run and long-run Phillips curves right. c. only the short-run Phillips curve left. d. only the short-run Phillips curve right. 8.When a country allows trade and becomes an importer of coal, a. the losses of the domestic producers of coal exceed the gains of the domestic consumers of coal. b. the losses of the domestic consumers of coal exceed the gains of the domestic producers of coal. c. the gains of the domestic producers of coal exceed the losses of the domestic consumers of coal. d. the gains of the domestic consumers of coal exceed the losses of the domestic producers of coal. 9.(Refer to Figure 1.) The increase in total surplus resulting from trade is a. $60, since producer surplus increases by $180 and consumer surplus falls by $240. b. $60, since consumer surplus increases by $180 and consumer surplus falls by $240. c. $75, since consumer surplus increases by $240 and consumer surplus falls by $165. d. $75, since consumer surplus increases by $300 and consumer surplus falls by $225. 10.Public policies that reduce the time it takes unemployed workers to find new jobs a. can reduce both frictional unemployment and the natural rate of unemployment. b. can reduce frictional unemployment, but it cannot reduce the nature rate of unemployment. c. cannot reduce frictional unemployment, but it can reduce the nature rate of unemployment. d. cannot reduce either frictional unemployment or the nature rate of unemployment. 11. Ms.Lee is looking for work as a computer programmer. Although her prospects are good, she hasn't yet taken a job. Ms.Chen is looking for work in a steel mill. Every time she shows up for an interview, there are more people looking for work than there are openings. Someone waiting in line with her tells her it has been that way for a long time. a. Ms.Lee and Chan are both frictionally unemployed. b. Ms.Lee and Chan are both structurally unemployed. c. Mr.Lee is frictionally unemployed, and Ms.Chen is structurally unemployed. d. Mr.Lee is structurally unemployed, and Ms.Chen is frictionally unemployed. 12.Which of the following is not an explanation for the existence of unemployment in the long run? a. it takes time for workers to search for the jobs that are best suited for them b. minimum-wage laws c. unions d. the business cycle 13.(Refer to Figure 2.) The amount of deadweight loss caused by the tariff equals a. $100. b. $200. c. $400. d. $500. 14.If a bank that desires to hold no excess reserves and has just enough reserves to meet the required reserve ratio of 10 percent receives a deposit of $400 it has a a. $400 increase in excess reserves and no increase in required reserves. b. $400 increase in required reserves and no increase in excess reserves. c. $360 increase in excess reserves and $40 increase in required reserves. d. $40 increase in excess reserves and $360 increase in required reserves. 15.(Refer to Figure 3.) Vietnam's gains from trade in rice amount to a. 750. b. 1,000. c. 1,250. d. 1,500. 16.On a bank's T-account, which are part of the banks liabilities? a. both deposits made by its customers and reserves b. deposits made by its customers but not reserves c. reserves but not deposits made by its customers d. neither deposits made by its customers nor reserves 17.A bank has a 10 percent reserve requirement, $4,000 in deposits, and has loaned out all it can given the reserve requirement. a. It has $40 in reserves and $3,960 in loans. b. It has $400 in reserves and $3,600 in loans. c. It has $444 in reserves and $3,556 in loans. d. None of the above is correct. 18.The manager of the bank where you work tells you that your bank has $10 million in excess reserves. She also tells you that the bank has $400 million in deposits and $355 million dollars in loans. Given this information you find that the reserve requirement must be a. 35/355. b. 45/355. c. 35/400. d. 45/400. 19.If you deposit $100 of currency into a demand deposit at a bank, this action by itself a. does not change the money supply. b. increases the money supply. c. decreases the money supply. d. has an indeterminate effect on the money supply. 20.If the reserve ratio is 20%, then $100 of new reserves can generate a. $60 of new money in the economy b. $250 of new money in the economy c. $500 of new money in the economy d. $2,000 of new money in the economy (Table 1.) Bank of Pleasantville(T字帳) Asserts資產 Liabilities(負債) ────────────┬─────────── Reserve $2,000 │ Deposits $20,000 │ Loan $18,000 │ 21.(Refer to Table 1.) From the table it follows that the Bank of Pleasantville operates in a a. fractional-reserve banking system, since its reserves are less than its deposits. b. fractional-reserve banking system, since its reserves are less than its loans. c. 100-percent-reserve banking system, since its assets are equal to its liabilities. d. 100-percent-reserve banking system if the Fed's reserve requirement is 10 percent; otherwise, it operates in a fractional-reserve banking system. 22.The money supply is $4,000, nominal GDP is 8000, and real GDP is 4000. Which of the following is 2? a. the price level and velocity b. the price level but not velocity c. velocity but not the price level d. neither the price level nor velocity 23.According to the assumptions of the quantity theory of money, if the money supply decreases by 7 percent, then a. nominal and real GDP would fall by 7 percent. b. nominal GDP would fall by 7 percent; real GDP would be unchanged. c. nominal GDP would be unchanged; real GDP would fall by 7 percent. d. neither nominal GDP nor real GDP would change. 24. In which case below is the real interest rate the highest? a. the nominal interest rate = 4% and inflation = 3% b. the nominal interest rate = 3% and inflation = 1% c. the nominal interest rate = 2% and inflation = -2% d. the nominal interest rate = 1% and inflation = -4% 25. You bought some shares of stock and, over the next year, the price per share decreased by 7 percent and the price level decreased by 9 percent. Before taxes, you experienced a. both a nominal gain and a real gain. b. a nominal gain and a real loss. c. a nominal loss and a real gain. d. both a nominal loss and a real loss. 26. Wealth is redistributed from creditors to debtors when inflation is a. high, whether it is expected or not. b. low, whether it is expected or not. c. unexpectedly high. d. unexpectedly low. 27.The real interest rate is 8% and the nominal interest rate is 10.5%. Is there or deflation? What is the inflation or deflation rate? a. deflation; 2.5 percent b. deflation; 20.5 percent c. inflation; 2.5 percent d. inflation; 20.5 percent 28.A firm in the U.K. hires a firm in the U.S. to train its managers. By itself this transaction a. increase U.K. imports and decreases U.S. net exports. b. increase U.K. imports and increases U.S. net exports. c. increase U.K. exports and decreases U.S. net exports. d. increase U.K. exports and increases U.S. net exports. 29. Other things the same, the real exchange rate between U.S.and Belgian goods would be higher if a. prices in the U.S. were higher, or the number of euro the dollar purchased were higher. b. prices in the U.S. were higher, or the number of euro the dollar purchased were lower. c. prices in the U.S. were lower, or the number of euro the dollar purchased were higher. d. prices in the U.S. were lower, or the number of euro the dollar purchased were lower. 30. Some industries within a country differentiate their products to capture a domestic market, they also differentiate their products to please the wide variety that exists worldwide. a. This inter-industry trade theory has to be consistent with the theory of absolute advantage. b. This inter-industry trade theory is inconsistent with the theory of comparative advantage. c. This intra-industry trade theory is consistent with the theory of comparative advantage. d. This intra-industry trade theory is inconsistent with the theory of comparative advantage. 第二部份：問答計算部份(共計40分) 1.(15%) United States and Australian produce white and red wines. Current domestic foreach wine are given in the following table: Suppose the exchange rate is 1AU$ = 1US$. ┌────┬─────┬────┐ │ │Australia │ U.S. │ ├────┼─────┼────┤ │White │10 AU$ │15 US$ │ │wine │ │ │ ├────┼─────┼────┤ │Red │5 AU$ │10 US$ │ │wine │ │ │ └────┴─────┴────┘ (1) If the price ratios within each country reflect resources use, which country has a comparative advantage in the production of red wine? White wine? (2) Assume that there are no other trading partners and that the only motive for holding foreign currency is to buy foreign goods. Will the current exchange rate lead to trade flows in both directions between two countries? Explain. (3) What adjustments might you expect in the exchange rate? Be spectfic. (4) What would you predict about trade flows between Australia and the United States after the exchange rate has adjusted? 2.(10%) (1) 請應用「J曲線效果」(J curve effect)解釋藉貨幣貶值能否立即改善 貿易逆差？發生的原因為何？ (2)若其他條件不變，為何貨幣貶值通常會導致通貨膨脹？ 3.請應用購買力平價理論(purchasing power parity hypothesis, PPP)及大麥堡指數 (Big Mac Index)推測下列表中未來各國貨幣相對美元可能升值或貶值的百分比，填 入下列表格。 ┌──────┬────────────┬────┬────┬─────┐ │國家 │ Big Mac價格 │隱含PPP │實際匯率│相對美元 │ │ ├─────┬──────┤美元計價│ │升值或貶值│ │ │當地貨幣 │以實際匯率換│ │ │ │ │ │ │算成美元計價│ │ │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │USA │ $3.54 │3.54 │ │- │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │China │Yuan12.5 │2.0 │ │6.84 │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │Euro area │€3.42 │4.50 │ │1.20 │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │Hong Kong │HK$13.3 │1.80 │ │7.75 │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │Japan │￥290 │3.00 │ │89.8 │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │Singapore │S$3.95 │2.50 │ │1.51 │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │South Korea │Wan3300 │2.10 │ │1380 │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │Taiwan │NT$75.0 │2.40 │ │33.6 │ │ ├──────┼─────┼──────┼────┼────┼─────┤ │Thailand │Baht62.0 │1.80 │ │35.0 │ │ └──────┴─────┴──────┴────┴────┴─────┘ --

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