課程名稱︰經濟學原理與實習下 課程性質︰ 課程教師︰駱明慶 開課學院： 開課系所︰ 考試日期（年月日）︰2012.06.18. 考試時限（分鐘）：130分鐘 是否需發放獎勵金：是 （如未明確表示，則不予發放） 試題 : 一、選擇題 (45%)：不需說明，寫出正確答案即可。 1. Which of the following statements is correct? (a) All items that are included in M1 are included also in M2. (b) All items that are included in M2 are included also in M1. (c) Credit cards are included in both M1 and M2. (d) Savings deposits are included in both M1 and M2. 2. The manager of the bank where you work tells you that your bank has $5 million in excess reserves. She also tells you that the bank has $300 million in deposits and $255 million dollars in loans. Given this information you find that the reserve requirement must be (a) 50/255. (b) 40/255. (c) 50/300. (d) 40/300. 3. When the money market is drawn with the value of money on the vertical axis, if the Federal Reserve sells bonds, then the money supply curve (a) shifts rightward, causing the value of money measured in terms of goods and services to rise. (b) shifts rightward, causing the value of money measured in terms of goods and services to fall. (c) shifts leftward, causing the value of money measured in terms of goods and services to rise. (d) shifts leftward, causing the value of money measured in terms of goods and services to fall. 4. You put money into an account and earn a real interest rate of 6 percent. Inflation is 2 percent, and your marginal tax rate is 20 percent. What is your after-tax real rate of interest? (a) 4.8 percent. (b) 3.2 percent. (c) 2.8 percent. (d) None of the above is correct. 5. AMexican flour mill buys wheat from the United States and pays for it with pesos. Other things the same, Mexican (a) net exports increase, and U.S. net capital outflow increases. (b) net exports increase, and U.S. net capital outflow decreases. (c) net exports decrease, and U.S. net capital outflow increases. (d) net exports decrease, and U.S. net capital outflow decreases. 6. The nominal exchange rate is 4 Saudi Arabian riyals, 9Moroccan dirham, 45 Indian rupee, or .6 British pounds per U.S. dollar. A double latte espresso and a cinnamon biscotti costs $6 in the U.S., 24 riyals in Saudi Arabia, 45 Moroccan dirham in Morocco, 250 Indian rupees in India, and 5 British pounds in Britain. According to these numbers, where is the real exchange rate between American and foreign goods the lowest? (a) Saudi Arabia. (b) Morocco. (c) India. (d) Britain. 7. The quantity of U.S. bonds foreigners want to buy is taken into account (a) in the U.S. supply of loanable funds and the supply of dollars in the market for foreigncurrency exchange. (b) in the U.S. supply of loanable funds and the demand for dollars in the market for foreigncurrency exchange. (c) in the U.S. demand for loanable funds and the supply of dollars in the market for foreigncurrency exchange. (d) in the U.S. demand for loanable funds and the demand for dollars in the market for foreign-currency exchange. 8. Which of the following is most likely to result if foreigners decide to withdraw the funds that they have loaned to the United States? (a) U.S. net exports will rise. (b) U.S. net capital outflow will fall. (c) U.S. domestic investment will rise. (d) the dollar will appreciate. 9. In which case can we be sure aggregate demand shifts left overall? (a) people want to save more for retirement and the government raises taxes (b) people want to save more for retirement and the government cuts taxes (c) people want to save less for retirement and the government raises taxes (d) people want to save less for retirement and the government cuts taxes 10.If speculators bid up the value of the U.S. dollar in the market for foreign exchange, then (a) U.S. goods become more expensive relative to foreign goods so aggregate demand shifts right. (b) U.S. goods become less expensive relative to foreign goods so aggregate demand shifts right. (c) U.S. goods become more expensive relative to foreign goods so aggregate demand shifts left. (d) U.S. goods become less expensive relative to foreign goods so aggregate demand shifts left. 11.The economy is in long-run equilibrium. Suppose that automatic teller machines (ATM) become cheaper and more convenient to use, and as a result the demand for money falls. Other things equal, we would expect that, in the short run, (a) the price level and real GDP would rise, but in the long run they would both be unaffected. (b) the price level and real GDP would rise, but in the long run the price level would rise and real GDP would be unaffected. (c) the price level and real GDP would fall, but in the long run they would both be unaffected. (d) the price level and real GDP would fall, but in the long run the price level would fall and real GDP would be unaffected. 12.A policy that raised the natural rate of unemployment would shift (a) both the short-run and the long-run Phillips curves to the right. (b) the short-run Phillips curve right but leave the long-run Phillips curve unchanged. (c) the long-run Phillips curve right but leave the short-run Phillips curve unchanged. (d) neither the long-run Phillips curve nor the short-run Phillips curve right. 13.If the long-run Phillips curve shifts to the right, then for any given rate of money growth and inflation the economy has (a) higher unemployment and lower output. (b) higher unemployment and higher output. (c) lower unemployment and lower output. (d) lower unemployment and higher output. 14.Suppose that the central bank is required to follow a monetary policy rule to stabilize prices. If the economy starts at long-run equilibrium and then aggregate supply shifts right the central bank would have to (a) increase the money supply, which causes output to move closer to its long-run equilibrium. (b) increase the money supply, which causes output to move farther from long-run equilibrium. (c) decrease the money supply, which causes output to move closer to its long-run equilibrium. (d) decrease the money supply, which causes output to move farther from long-run equilibrium. 15.Which of the following is not correct? (a) Deficits give people the opportunity to consume at the expense of their children, but deficits do not require them to do so. (b) Deficits and surpluses could be used to avoid fluctuations in the tax rate. (c) The only times deficits have increased have been during times of war or economic downturns. (d) Reducing the budget deficit rather than funding more education spending could, all things considered, make future generations worse off. 二、非選擇題 (55%)： 答題時請適當說明你的想法，計算題請說明推理過程，答案內容以讓批改者瞭解為原則。 1. (7%) 請回答底下問題。 (a) (4%) 如果國際情勢動盪不安，國際上大量的資金都轉而購買美國資產。請利用可貸 資金市場與外匯市場的模型，分析美金的匯率，利率，物價與產出會如何變化？ (b) (3%) 某經濟體目前的失業率高於自然率，政府欲使用寬鬆的貨幣政策來降低失業率 。然而連續施行兩輪後皆不見成效。根據菲利浦曲線理論，你認為這是為什麼？ 2. (12%) 台灣的央行累積了大量的外匯存底，加上低利率政策，央行創造出可觀的「央行 盈餘。」 (a) (4%) 請問央行如何累積大量的外匯存底，其目的是什麼？ (b) (4%) 為何大量累積外匯存底加上低利率政策能創造出大量的盈餘？ (c) (4%) 央行創造出大量盈餘的同時，對於生產者、消費者、存款人的福利有何影響？ 3. (16%) 桃花源目前產出高於自然產出，出現景氣過熱的現象。政府希望能透過總體政策 使物價下降，產出回到自然水準。 (a) (4%) 假設桃花源的消費函數為C = 1000 + 0.8(Y - T)，政府想調整定額稅T使總合 需求減少(左移)400。假設利率固定，請問政府應該增加還是減少定額睡？要調整多 少？ (b) (4%) 如果政府想改採貨幣政策來達到政策目標，中央銀行應該調高還是降低利率？ 中央銀行又要如何調整貨幣供給，使均衡利率到達央行宣稱的水準？ (c) (4%) 一般而言，投資金額和利率為反向關係。現在假設因為某種緣故，桃花源的投 資金額變得不受利率影響。請問此時財政政策效果會變大，變小，還是不變？為什 麼？ 4. (20%) 桃花源的生產函數為Y = 2000√L，因此其勞動需求為W/P = 1000/√L，其中Y為 總產出，L為勞動量，W為名目工資，P為物價水準。桃花源的勞動供給為L = W/P，桃花 源目前物價水準為125。 (a) (2%) 請問長期時勞動市場的均衡實質工資(W/P)和勞動雇用量為何？ (b) (3%) 請寫出桃花源的長期總合供給函數。 (c) (3%) 短期時勞工無法感受到物價變動，認為物價水準固定為125。請證明桃花源的短 期總合供給函數為Y = 4000(3√)P。 (d) (2%) 承上題，假設桃花源的總合需求函數為Y = 40000 - 160P。請問此時桃花源是 否處於長期均衡？ (e) (4%) 承上題，假設桃花源的總合需求減少為Y = 26240 - 160P。根據總合供需模型 ，短期物價將如何變動？請問短期均衡時的產出、物價水準和勞動雇用量各為多少？ (提示：本題中(3√)P為一正整數。) (f) (6%) 承上題，請問此時勞工的名目工資和實質工資各為何？從勞工的角度，總合需 求減少後勞工的實質工資上升，為什麼勞動供給量反而減少了？ *註：(3√)表示為三次根號。 --

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