宏观经济学-题库-(6).doc

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1、Real GDP suppliedPrice levelReal GDP demanded(dollars)Short run(dollars)Long run(dollars)9070030060010060040060011050050060012040060060017) The table above gives the aggregate demand and aggregate supply schedules in Lotus Land. With no changes in aggregate demand or long-run aggregate supply, in lo

2、ng-run macroeconomic equilibrium, the price level will be _ and real GDP will be _.A) 120; $400B) 110; $500C) 90; $400D) 100; $600Answer: DTopic: Long-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical SkillsPricelevelAggregate demand(trilli

3、ons of 2005 dollars)Short-run aggregate supply(trillions of 2005 dollars)Long-run aggregate supply(trillions of 2005 dollars)130812101209111011010101010011910901281018) The data in the above table indicate that when the price level is 120,A) inventories fall and the price level rises.B) the economy

4、is in a long-run macroeconomic equilibrium.C) inventories rise and the price level falls.D) the unemployment rate is at its equilibrium level.Answer: CTopic: Short-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills19) The data in the

5、above table indicate that when the price level is 100,A) inventories fall and the price level rises.B) the economy is in a long-run macroeconomic equilibrium.C) inventories rise and the price level falls.D) the unemployment rate is at its equilibrium level.Answer: ATopic: Short-Run Macroeconomic Equ

6、ilibriumSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills20) The data in the above table indicate that when the price level is 100,A) firms have unexpectedly low inventories, so prices will rise.B) inventories are at levels planned by firms.C) firms will plan to

7、 decrease the level of output.D) firms have unexpectedly high inventories, so prices fall.Answer: ATopic: Short-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills21) The data in the above table indicate that when the price level is 12

8、0,A) firms have unexpectedly low inventories, so prices will rise.B) inventories are at levels planned by firms.C) firms will plan to increase the level of output.D) firms have unexpectedly high inventories, so prices fall.Answer: DTopic: Short-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion

9、history: Previous edition, Chapter 10AACSB: Analytical Skills22) In the above figure, curve A is the _ curve, curve B is the _ curve, and curve C is the _ curve.A) long-run aggregate supply; short-run aggregate supply; aggregate demandB) aggregate demand; short-run aggregate supply; long-run aggrega

10、te supplyC) short-run aggregate supply; long-run aggregate supply; aggregate demandD) long-run aggregate supply; aggregate demand; short-run aggregate supplyAnswer: ATopic: Long-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills23) In

11、 the figure above, in the short-run macroeconomic equilibrium,A) there is no structural unemployment.B) real GDP is greater than potential GDP.C) real GDP equals potential GDP.D) real GDP is less than potential GDP.Answer: DTopic: Short-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history

12、: Previous edition, Chapter 10AACSB: Analytical Skills24) The above figure depicts an economy with a short-run equilibriumA) at full employment.B) below full employment.C) at higher than full-employment.D) None of the above answers are correct.Answer: ATopic: Short-Run Macroeconomic EquilibriumSkill

13、: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills25) In the above figure, at the price level of 140 and real GDP ofA) $12 trillion, firms will not be able to sell all their output.B) $4 trillion, firms will not be able to sell all their output.C) $4 trillion, consume

14、rs will not be able to buy all the goods and services they demand.D) $12 trillion, consumers will not be able to buy all the goods and services they demand.Answer: ATopic: Short-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills26) Ba

15、sed on the figure above, short-run equilibrium occurs at the price level ofA) 120 and real GDP of $4 trillion.B) 130 and real GDP of $8 trillion.C) 140 and real GDP of $12 trillion.D) 130 and real GDP of $12 trillion.Answer: BTopic: Short-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion histor

16、y: Previous edition, Chapter 10AACSB: Analytical Skills27) The data in the above figure indicate that the economy will be in a long-run macroeconomic equilibrium at a price level ofA) 140.B) 130.C) 100.D) 120.Answer: DTopic: Long-Run Macroeconomic EquilibriumSkill: AnalyticalQuestion history: Previo

17、us edition, Chapter 10AACSB: Analytical Skills28) Which of the following can be said about economic growth?I.Economic growth is the result of increases in long-run aggregate supply.II.Economic growth is the result of increases in aggregate demand.A) I onlyB) II onlyC) I and IID) neither I or IIAnswe

18、r: ATopic: Economic Growth RateSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking29) Economic growth is best defined asA) decreases in potential GDP.B) increases in potential GDP.C) rightward shifts of the AD curve.D) rightward shifts of the SAS curve.Answer:

19、BTopic: Economic Growth RateSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking30) Which of the following helps determine the growth rate of potential GDP?I.capital accumulationII.technology advancesIII.growth in the quantity of moneyA) IB) I and IIC) I and III

20、D) I, II and IIIAnswer: BTopic: Economic Growth RateSkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking31) Economic growthA) occurs when the long-run aggregate supply curve shifts upward.B) is an increase in potential GDP as the long-run aggregate supply curve shifts r

21、ightward.C) requires a compensating decrease in aggregate demand to offset the increase in aggregate supply.D) All of the above answers are correct.Answer: BTopic: Economic Growth RateSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking32) Over time in a growing

22、economy, the long-run aggregate supply curve willA) become horizontal at the long-run potential price level.B) shift rightward.C) shift leftward.D) become increasingly steep.Answer: BTopic: Economic Growth RateSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking3

23、3) The country of Mu has continuous strong economic growth and a steady price level. This situation is most likely the result of aggregate demand growing _ aggregate supply.A) at the same pace as long-runB) slower than long-runC) slower than short-runD) faster than long-runAnswer: ATopic: Economic G

24、rowth RateSkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking34) If aggregate demand grows only slightly faster than potential GDP, then the economy will _.A) experience economic growth with high inflationB) experience recessionC) experience economic growth with low in

25、flationD) be at a business-cycle peakAnswer: CTopic: Economic Growth RateSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking35) In the United States, during the past 5 decades economic growth was most rapid during the _., A) 1960sB) 1990sC) 1970sD) 2000sAnswer:

26、ATopic: Economic Growth RateSkill: RecognitionQuestion history: New 10th edition AACSB: Reflective Thinking36) In the United States, during the past 5 decades inflation was highest during the _., A) 1970sB) 1990sC) 1960sD) 2000sAnswer: ATopic: InflationSkill: RecognitionQuestion history: New 10th ed

27、ition AACSB: Reflective Thinking37) Inflation occurs over time as a result ofA) long-run aggregate supply increasing faster than aggregate demand.B) long-run aggregate supply increasing faster than short-run aggregate supply.C) decreases in aggregate demand.D) aggregate demand increasing faster than

28、 long-run aggregate supply.Answer: DTopic: InflationSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking38) If the aggregate demand curve shifts _ faster than the long-run aggregate supply curve, then _ occurs.A) leftward; economic growthB) leftward; inflationC)

29、rightward; economic growthD) rightward; inflationAnswer: DTopic: InflationSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking39) When an increase in aggregate demand exceeds the increase in aggregate supply,A) real GDP decreases while nominal GDP increases.B) th

30、e price level falls while real GDP increases.C) nominal GDP decreases and real GDP decreases.D) the economy will experience inflation as the price level rises.Answer: DTopic: InflationSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking40) Business cycles are the

31、 result ofA) regular shifts of the AD curve only.B) irregular shifts of the SAS curve only.C) regular shifts of both the AD and SAS curves.D) irregular shifts of both the AD and SAS curves.Answer: DTopic: Business CycleSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective

32、 Thinking41) One result of a decrease in aggregate demand and no change in aggregate supply isA) a recession.B) an increase in employment levels.C) an economic expansion.D) a rise in the price level.Answer: ATopic: Business CycleSkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflecti

33、ve Thinking42) Starting at full employment, a business cycle can be described by the following sequence: _ equilibrium, _ equilibrium, _ equilibrium.A) full-employment; below full-employment; above full-employmentB) below full-employment; full-employment; above full-employmentC) above full-employmen

34、t; below full-employment; full-employmentD) below full-employment; full-employment; below full-employmentAnswer: BTopic: Business CycleSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking43) When real GDP exceeds potential GDP, then the economy hasA) an inflation

35、ary gap.B) a below full-employment equilibrium.C) a recessionary gap.D) None of the above answers are correct.Answer: ATopic: Inflationary GapSkill: RecognitionQuestion history: Modified 10th editionAACSB: Reflective Thinking44) An inflationary gap is occurs whenA) real GDP is less than potential GD

36、P.B) real GDP exceeds potential GDP.C) real GDP equals potential GDP.D) the economy is at full employment.Answer: BTopic: Inflationary GapSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking45) When the economy is at an above full-employment equilibrium, _.A) no

37、minal GDP exceeds real GDPB) an inflationary gap existsC) a recessionary gap existsD) real GDP is less than potential GDPAnswer: BTopic: Inflationary GapSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking46) An above full-employment equilibrium isA) a theoretic

38、al possibility but cannot happen in reality.B) the equilibrium in which the economy is in most of the time.C) when real GDP exceeds potential GDP.D) the period of time when prices are falling.Answer: CTopic: Inflationary GapSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflec

39、tive Thinking47) A recessionary gap means that short-run macroeconomic equilibrium GDPA) is less than full-employment GDP.B) equals full-employment GDP.C) is more than full-employment GDP.D) may be less than, more than, or the same as full-employment GDP depending on the level of potential GDP.Answe

40、r: ATopic: Recessionary GapSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking48) If real GDP is less than potential GDP, then the economy is _ equilibrium.A) at an above full-employmentB) not in short-run macroeconomicC) at a below full-employmentD) in long-ru

41、n macroeconomicAnswer: CTopic: Recessionary GapSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking49) A recessionary gap occurs whenA) real GDP is less than potential GDP.B) nominal GDP is less than potential GDP.C) high rates of inflation occur.D) nominal GDP

42、is greater than potential GDP.Answer: ATopic: Recessionary GapSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking50) If aggregate demand decreases and neither short-run nor long-run aggregate supply changes, thenA) the price level increases in the short-run and

43、 decreases in the long-run.B) there is an inflationary gap.C) there is a recessionary gap.D) in the long run, the long-run aggregate supply will decrease.Answer: CTopic: Recessionary GapSkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking51) A below full-employment equi

44、libriumA) is not possible in the U.S. economy.B) occurs when real GDP is less than potential GDP.C) occurs when the price level is rising very quickly.D) occurs when real GDP exceeds potential GDP.Answer: BTopic: Recessionary GapSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: R

45、eflective Thinking52) An economy is at full employment. Which of the following events can create a recessionary gap?A) an increase in foreign incomeB) an increase in taxesC) a decrease in the quantity of capitalD) a decrease in money wagesAnswer: BTopic: Recessionary GapSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking53) The Great Depression, in which real GDP fell and unemployment rose, can be characterized as a _.A) inflationary gapB) long-run equilibriumC) recessionary gapD) full-employment equilibriumAnswer: CTopic: