宏观经济学chap07习题.docx
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宏观经济学chap07习题.docx
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宏观经济学chap07习题
Macroeconomics,8e(Parkin)Testbank1
Chapter7
AtFullEmployment:
TheClassicalModel
7.1
TheClassicalModel:
APreview
1)
Realvariables
A)
arethosethatdeterminethecostofliving.
B)
arethosethatdetermineeconomicwell-being.
C)
includevariablessuchasthepricelevelandinflationrate.
D)
Noneoftheaboveanswersiscorrect.
Answer:
B
Topic:
RealVariables
Skill:
Recognition
2)
Allofthefollowingarerealvariables,except
A)
thepricelevel
B)
saving
C)
employment
D)
investment
Answer:
A
Topic:
RealVariables
Skill:
Conceptual*
3)
Anexampleofanominalvariableis
A)
thelevelofunemployment.
B)
thepricelevel.
C)
aggregateworkinghours.
D)
therealwagerate.
Answer:
B
Topic:
NominalVariables
Skill:
Recognition
4)
Nominalvariablesareexpressedintermsof
A)
deflatedvalues.
B)
constantvalues.
C)
dollarvalues.
D)
baseyearvalues.
Answer:
C
Topic:
NominalVariables
Skill:
Recognition
5)
Theclassicaldichotomyisadiscoverythatstates
A)
realandnominalvariablesareactuallythesamething.
B)
whentheeconomyisatfullemployment,theforcesthatdeterminetherealvariablesareindependentofthosethatdeterminethenominalvariables.
C)
throughoutthebusinesscycle,theforcesthatdeterminetherealvariablesareindependentofthosethatdeterminethenominalvariables.
D)
onlynominalvariablescausebusinesscycles.
Answer:
B
Topic:
ClassicalDichotomy
Skill:
Recognition
6)
Theclassicaldichotomyholdstrue
A)
whenthereisfullemployment.
B)
onlyifthereisinflation.
C)
whentheeconomyisnotatfullemployment.
D)
overallpartsofthebusinesscycle.
Answer:
A
Topic:
ClassicalDichotomy
Skill:
Recognition
7)
Theclassicaldichotomyapplieswhentheeconomyonlywhentheeconomy
A)
isatfullemployment.
B)
haslessthanfullemployment.
C)
isinarecession.
D)
hasmorethanfullemployment.
Answer:
A
Topic:
ClassicalDichotomy
Skill:
Recognition
8)
Theclassicaldichotomydoesnotapply
A)
whentheeconomyisatfullemployment.
B)
whentheeconomyisinabusinesscyclerecession.
C)
atanytimeintherealworld.
D)
Noneoftheaboveanswersiscorrectbecausetheclassicaldichotomyalwaysapplies.
Answer:
B
Topic:
ClassicalDichotomy
Skill:
Recognition
9)
IfwewanttocomparewhyrealGDPisvastlydifferentbetweentwonations,theclassicaldichotomymeansthatwehavetoexamine
A)
onlythedifferencesinthepricelevelsandinflationratesofthetwonations.
B)
onlythedifferencesintherealpartsofthetwonations.
C)
boththerealpartsandthenominalvariablesofthetwonations.
D)
Noneoftheaboveanswersiscorrect.
Answer:
B
Topic:
ClassicalDichotomy
Skill:
Conceptual
10)
Theclassicaldichotomymeansthatthefactorsthatdeterminetheinflationrateareindependentofthefactorsthatdetermine
A)
realeconomicgrowth.
B)
nominalGDP.
C)
thenominalwagerate.
D)
allnominalvariables.
Answer:
A
Topic:
ClassicalDichotomy
Skill:
Conceptual
7.2
RealGDPandEmployment
1)
WhichofthefollowingcorrectlydescribethePPFbetweenleisureandrealGDP?
I)ThePPFshowstheboundarybetweenamountsofgoodsandservicesthatcanbeproducedversusthosethatcannotbeproduced.
II)ThePPFdisplaysdecreasingopportunitycosts.
A)
Ionly
B)
IIonly
C)
bothIandII
D)
neitherInorII
Answer:
A
Topic:
PPF
Skill:
Conceptual
2)
Considerthenation'sproductionpossibilitiesfrontierbetweenleisureandGDP.Adecreaseinleisurewillcause
I)anincreaseinlaborinput.
II)amovementalongtheproductionpossibilityfrontier.
A)
Ionly
B)
IIonly
C)
bothIandII
D)
neitherInorII
Answer:
C
Topic:
PPF
Skill:
Conceptual
3)
AlongaproductionpossibilitiesfrontierforrealGDPandthequantityofleisuretime,asleisuretimeincreases,realGDP
A)
decreases
B)
increases
C)
staysthesame
D)
couldincrease,decreaseorstaythesame
Answer:
A
Topic:
PPF
Skill:
Conceptual*
4)
Becausetheleisure-realGDPproductionpossibilitiesfrontierisbowedoutward,then
A)
eachadditionalunitofrealGDPcostsadecreasingamountofforgoneleisure.
B)
asmorerealGDPisproduced,increasinglymoreproductivelaborisbeingused.
C)
themarginalproductoflaborincreasesasrealGDPincreases.
D)
theslopeoftheeconomy'sproductionfunctiondecreasesasrealGDPincreases.
Answer:
D
Topic:
PPF
Skill:
Conceptual
5)
Movingalongtheproductionfunctionshowstherelationshipbetween________,holdingallelseconstant.
A)
capitalinputandrealGDP
B)
laborinputandrealGDP
C)
laborinput,capitalinputandrealGDP
D)
technologyandrealGDP
Answer:
B
Topic:
ProductionFunction
Skill:
Recognition
6)
Alongtheproductionfunction,asthequantityoflaborrises,realGDP
A)
rises
B)
falls
C)
staysthesame
D)
mayfall,rise,orstaythesame
Answer:
A
Topic:
ProductionFunction
Skill:
Recognition*
7)
Theproductionfunctionshowshow________varieswith________.
A)
realGDP;labor
B)
leisure;labor
C)
labor;capital
D)
labor;leisure
Answer:
A
Topic:
ProductionFunction
Skill:
Recognition*
8)
Amovementalongtheproductionfunctionistheresultofachangein
A)
thequantityoflabor
B)
technology
C)
capital
D)
interestrates
Answer:
A
Topic:
ProductionFunction
Skill:
Conceptual*
9)
TheproductionfunctionshowsthataneconomyincreasesitsrealGDPintheshortrunby
A)
developingnewtechnologies.
B)
increasingitsphysicalcapitalstock.
C)
usingmorelabor.
D)
exploringfornewdepositsofnaturalresources.
Answer:
C
Topic:
ProductionFunction
Skill:
Conceptual
10)
Movingalongtheproductionfunction,allofthefollowingareheldconstantEXCEPT
A)
labor
B)
capital
C)
humancapital
D)
technology
Answer:
A
Topic:
ProductionFunction
Skill:
Recognition*
11)
Anincreaseinlaborhourswillleadto
A)
ashiftoftheproductionfunctionbutnomovementalongit.
B)
amovementalongtheproductionfunctionbutnoshiftinit.
C)
bothamovementalongandashiftintheproductionfunction.
D)
neitheramovementalongnorashiftintheproductionfunction.
Answer:
B
Topic:
ProductionFunction
Skill:
Conceptual
12)
Supposethatinaparticularfactory,holdingotherthingsequal,whenemploymentincreasedfrom100to110workers,outputincreasedfrom100to200units.Ifemploymentwasincreasedfrom110to120workersholdingotherthingsequal,thenoutputwould
A)
increasebymorethan100becauseofhigherlaborforceparticipation.
B)
increasebylessthan100becauseofarisingpricelevel.
C)
increasebylessthan100becauseofdiminishingreturns.
D)
increasebymorethan100becauseofincreasingopportunitycost.
Answer:
C
Topic:
TheProductionFunction
Skill:
Conceptual
13)
Intheillustrationabove,whichfigureshowsaproductionfunction?
A)
FigureA
B)
FigureB
C)
FigureC
D)
FigureD
Answer:
A
Topic:
ProductionFunction
Skill:
Recognition
14)
Intheillustrationabove,FigureAshowsthe________andFigureBshowsthe________.
A)
labordemandcurve;productionfunction
B)
productionpossibilitiesfrontier;productionfunction
C)
productionfunction;productionpossibilitiesfrontier
D)
aggregatesupplycurve;productionfunction
Answer:
C
Topic:
ProductionFunction
Skill:
Recognition
15)
The________showshowrealGDPvariesasthequantityoflaboremployedvaries,otherthingsremainingthesame.
A)
laborsupplycurve
B)
productionfunction
C)
short-runaggregatesupplycurve
D)
labordemandcurve
Answer:
B
Topic:
ProductionFunction
Skill:
Recognition
16)
Whenthequantityoflaborhoursincreaseswithnochangeinlaborproductivity,________.
A)
thePPFbetweenrealGDPandleisureshiftsoutward
B)
thePPFbetweenrealGDPandleisureshiftsinward
C)
amovementupalongtheproductionfunctionoccurs
D)
amovementdownalongtheproductionfunctionoccurs
Answer:
C
Topic:
ProductionFunction
Skill:
Recognition
17)
Whentheamountoftimethatpeoplespendonleisurechangeswithnochangeinlaborproductivity________.
A)
amovementalongthePPFbetweenrealGDPandleisureaswellasamovementalongtheproductionfunctionoccur
B)
thePPFbetweenrealGDPandleisureshiftsoutwardandtheproductionfunctionshiftsoutward
C)
thePPFbetweenrealGDPandleisureshiftsoutwardandamovementalongtheproductionfunctionoccurs
D)
amovementalongthePPFbetweenrealGDPandleisureoccursandtheproductionfunctionshiftsoutward
Answer:
A
Topic:
ProductionPossibilities
Skill:
Recognition
18)
ThecountryofKemperisonitsproductionfunctionatpointWintheabovefigure.ThegovernmentofKemperpassesalawthatmakes4yearsofcollegemandatoryforallcitizens.Afterallcitizenshavetheireducation,theeconomywill
A)
movetopointsuchasY.
B)
remainatpointW.
C)
movetopointsuchasX.
D)
movetopointsuchasZ.
Answer:
D
Topic:
ProductionFunction
Skill:
Conceptual
19)
ThecountryofKemperisonitsproductionfunctionatpointWintheabovefigure.
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