宏观经济学-题库-(5)53) Which of the following statements is FALSE?A) Fiscal policy is the attempt to influence the economy using taxes, transfer payments, and government expenditures.B) Government expenditure affects aggregate demand directly because government expenditure is a component of aggregate demand.C) Taxes and transfer payments affect aggregate demand by changing disposable income.D) An increase in disposable income leads to a decrease in aggregate demand. Answer: DTopic: Changes in Aggregate Demand, Fiscal PolicySkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking54) A decrease in government transfer paymentsA) increases aggregate demand.B) increases the aggregate quantity demanded.C) decreases the aggregate quantity demanded.D) decreases aggregate demand.Answer: DTopic: Changes in Aggregate Demand, Transfer PaymentsSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking55) An increase in government expenditure on goods and servicesA) increases aggregate demand.B) increases the aggregate quantity demanded.C) decreases the aggregate quantity demanded.D) decreases aggregate demand.Answer: ATopic: Changes in Aggregate Demand, Government ExpenditureSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking56) A decrease in government expenditure on goods and servicesA) increases aggregate demand.B) increases the aggregate quantity demanded.C) decreases the aggregate quantity demanded.D) decreases aggregate demand.Answer: DTopic: Changes in Aggregate Demand, Government ExpenditureSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking57) A decrease in government expenditure shifts the AD curve ________ and a decrease in taxes shifts the AD curve ________.A) rightward; rightwardB) rightward; leftwardC) leftward; rightwardD) leftward; leftwardAnswer: CTopic: Changes in Aggregate Demand, Government ExpenditureSkill: AnalyticalQuestion history: Previous edition, Chapter 13AACSB: Analytical Skills58) Which of the following shifts the aggregate demand curve leftward?A) an increase in consumption expendituresB) a decrease in taxesC) a decrease in government expenditures on goods and servicesD) an increase in net exports of goods and servicesAnswer: CTopic: Changes in Aggregate Demand, Government ExpenditureSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking59) Disposable income ________ when ________.A) decreases; taxes increaseB) decreases; transfer payments increaseC) increases; government expenditures decreaseD) decreases; aggregate income increasesAnswer: ATopic: Changes in Aggregate Demand, TaxesSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking60) The aggregate demand curveA) shifts rightward when the price level increases and leftward when the price level falls.B) shifts rightward when taxes are decreased.C) shifts rightward when foreign incomes decrease and shifts leftward when foreign incomes increase.D) does not shift, unlike market demand curves.Answer: BTopic: Changes in Aggregate Demand, TaxesSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking61) If taxes are increased, the AD curveA) is not affected because a change in taxes is a nominal change not real change.B) shifts rightward and aggregate demand decreases.C) shifts leftward and aggregate demand decreases.D) does not shift but there is a movement down along the curve.Answer: CTopic: Changes in Aggregate Demand, TaxesSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking62) Which of the following shifts the aggregate demand curve rightward?A) a decrease in government expenditureB) expectations that future incomes will fallC) a decrease in the quantity of money and an increase in interest ratesD) a tax cutAnswer: DTopic: Changes in Aggregate Demand, TaxesSkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking63) Which of the following decreases aggregate demand?A) The government increases taxes on both business and personal income.B) Foreign incomes rise.C) The quantity of money in the economy increases.D) Households believe that the economy is headed for good times, with higher future incomes.Answer: ATopic: Changes in Aggregate Demand, TaxesSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking64) Which of the following increases aggregate demand?A) a decrease in taxesB) a decrease in foreign incomeC) a decrease in government expenditureD) a rise in the interest rateAnswer: ATopic: Changes in Aggregate Demand, TaxesSkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking65) Which of the following shifts the aggregate demand curve rightward?A) an increase in the tax rateB) a decrease in the price levelC) an increase in the quantity of moneyD) an increase in the exchange rateAnswer: CTopic: Changes in Aggregate Demand, MoneySkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking66) Which of the following increases aggregate demand?A) an increase in taxesB) an increase in the quantity of moneyC) an increase in the exchange rateD) a decrease in government expendituresAnswer: BTopic: Changes in Aggregate Demand, MoneySkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking67) If the quantity of money increases, theA) price level rises and the AD curve does not shift.B) AD curve shifts leftward and aggregate demand decreases.C) AD curve does not shift and there is a movement upward along the curve.D) AD curve shifts rightward and aggregate demand increases.Answer: DTopic: Changes in Aggregate Demand, MoneySkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking68) Which of the following shifts the aggregate demand curve rightward?A) a decrease in the price levelB) a decrease in government expendituresC) an increase in the quantity of moneyD) a decrease in transfer paymentsAnswer: CTopic: Changes in Aggregate Demand, MoneySkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking69) The U.S. aggregate demand curve shifts leftward ifA) the economic conditions in Europe improve so that European incomes increase.B) there is a tax cut.C) the Federal Reserve hikes the interest rate.D) the exchange rate falls.Answer: CTopic: Changes in Aggregate Demand, MoneySkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking70) Which of the following increases aggregate demand and shifts the AD curve rightward?A) a fall in the price levelB) an increase in the quantity of money and a resulting fall in the interest rateC) predictions of a recession that lead to expectations of lower future incomeD) an increase in the exchange rate that makes imports less expensive Answer: BTopic: Changes in Aggregate Demand, MoneySkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking71) Aggregate demand increases if the quantity of money ________.A) decreases or tax rates increaseB) or transfer payments decreaseC) remains constant or tax rates increaseD) increases or tax rates decreaseAnswer: DTopic: Changes in Aggregate Demand, MoneySkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking72) The U.S. exchange rate rises. As a result, there is aA) movement along the U.S. aggregate demand curve but the curve does not shift.B) rightward shift in the U.S. aggregate demand curve.C) leftward shift in the U.S. aggregate demand curve.D) rightward shift in the long-run U.S. aggregate supply curve.Answer: CTopic: Changes in Aggregate Demand, Foreign Exchange RateSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking73) When the exchange rises, then theA) AD curve shifts rightward.B) AD curve shifts leftward.C) LAS curve shifts rightward.D) LAS curve shifts leftward.Answer: BTopic: Changes in Aggregate Demand, Foreign Exchange RateSkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking74) Suppose the exchange rate falls from $1.20 Canadian per U.S. dollar to $1.10 Canadian per U.S. dollar. U.S. exports will ________, U.S. imports will ________, and U.S. aggregate demand will ________.A) decrease; increase; decreaseB) decrease; increase; increaseC) increase; decrease; increaseD) increase; increase; increaseAnswer: CTopic: Changes in Aggregate Demand, Foreign Exchange RateSkill: ConceptualQuestion history: Modified 10th editionAACSB: Reflective Thinking75) A decrease in foreign incomesA) increases aggregate demand in the United States.B) increases the aggregate quantity demanded in the United States.C) decreases the aggregate quantity demanded in the United States.D) decreases aggregate demand in the United States.Answer: DTopic: Changes in Aggregate Demand, Foreign IncomesSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking76) An increase in foreign incomesA) increases aggregate demand in the United States.B) increases the aggregate quantity demanded in the United States.C) decreases the aggregate quantity demanded in the United States.D) decreases aggregate demand in the United States.Answer: ATopic: Changes in Aggregate Demand, Foreign IncomesSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking77) In the above figure, the economy is initially at point B. If the government decreases transfer payments, there isA) a movement to point C.B) a movement to point A.C) a shift to AD2.D) a shift to AD1.Answer: CTopic: Changes in Aggregate Demand, Transfer PaymentsSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills78) In the above figure, the economy is initially at point B. If taxes increase, there isA) a movement to point C.B) a movement to point A.C) a shift to AD2.D) a shift to AD1.Answer: CTopic: Changes in Aggregate Demand, TaxesSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills79) In the above figure, the economy is initially at point B. If the Fed decreases the quantity of money, there isA) a movement to point C.B) a movement to point A.C) a shift to AD2.D) a shift to AD1.Answer: CTopic: Changes in Aggregate Demand, MoneySkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills80) In the above figure, the economy is initially at point B. If the Fed increases the quantity of money, there isA) a movement to point C.B) a movement to point A.C) a shift to AD2.D) a shift to AD1.Answer: DTopic: Changes in Aggregate Demand, MoneySkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills81) In the above figure, if the economy is at point a, an increase in ________ will move the economy to ________.A) real wealth from the fall in the price level; point bB) real wealth from the fall in the price level; point cC) expected future income; point cD) expected future income; point dAnswer: BTopic: Aggregate Demand, Wealth EffectSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills82) In the above figure, if the economy is at point a, an increase in ________ will move the economy to ________.A) real wealth; point dB) real wealth from a fall in the price level; point dC) expected future income; point bD) expected future income; point dAnswer: CTopic: Changes in Aggregate Demand, ExpectationsSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills83) In the above figure, the movement from point B to point A might be the result ofA) an increase in government expenditures because of a war.B) an increase in government expenditures because of increases in education expenditures.C) an increase in the demand for manufacturing goods because of new technology.D) a fall in the price level.Answer: DTopic: The Aggregate Demand CurveSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills84) In the above figure, the shift from point C to point B might be the result ofA) an increase in the price level.B) a decrease in the price level.C) a decrease in government expenditures.D) an increase in the quantity of money.Answer: CTopic: Changes in Aggregate Demand, Government ExpenditureSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills85) The curve labeled A in the above figure isA) a short-run aggregate supply curve.B) an aggregate demand curve.C) a long-run aggregate supply curve.D) a production possibilities curve.Answer: BTopic: The Aggregate Demand CurveSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills86) In the above figure, the curve labeled A shifts rightward ifA) expected future profits decrease.B) the quantity of money decreases.C) the substitution effect occurs.D) taxes decrease.Answer: DTopic: Changes in Aggregate Demand, TaxesSkill: AnalyticalQuestion history: Previous edition, Chapter 10AACSB: Analytical Skills87) The U.S. fiscal policy implemented in 2008 was an attempt toA) give billions of dollars to businesses and low- and middle-income Americans in order stimulate business investment and consumption expenditure, thereby increasing AD.B) give billions of dollars to businesses and low- and middle-income Americans in order stimulate business investment and consumption expenditure, thereby increasing SAS.C) decrease interest rates in order to stimulate business investment and consumption expenditure, thereby increasing AD.D) decrease the exchange rate in order to boost net exports, thereby increasing AD.Answer: ATopic: Recession of 2008Skill: RecognitionQuestion history: New 10th editionAACSB: Reflective Thinking88) The U.S. monetary policy implemented in 2008 was an attempt toA) give billions of dollars to businesses and low- and middle-income Americans in order stimulate business investment and consumption expenditure, thereby increasing AD.B) decrease interest rates in order to stimulate business investment and consumption expenditure, thereby increasing SAS.C) decrease interest rates in order to stimulate business investment and consumption expenditure, thereby increasing AD.D) decrease the exchange rate in order to boost net exports, thereby increasing AD.Answer: CTopic: Recession of 2008Skill: RecognitionQuestion history: New 10th editionAACSB: Reflective Thinking89) The aggregate demand curve illustrates that, as the price level rises,A) the quantity of real GDP demanded increases.B) the quantity of real GDP demanded decreases.C) the AD curve shifts rightward.D) the AD curve shifts leftward.Answer: BTopic: Study Guide Question, Aggregate DemandSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking90) As the price level falls, the quantity of real wealth ________ and the aggregate quantity of real GDP demanded ________.A) increases; increasesB) increases; decreasesC) decreases; increasesD) decreases; decreasesAnswer: ATopic: Study Guide Question, Aggregate Demand, Wealth EffectSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking3 Explaining Macroeconomic Trends and Fluctuations1) The AS/AD model studies the relationship betweenA) the price level and unemployment.B) the price level and real GDP.C) unemployment and real GDP.D) nominal GDP and inflation.Answer: BTopic: The AS-AD ModelSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking2) By using only the aggregate demand curve, we can determineA) only the price level.B) only the quantity of real GDP.C) both the price level and quantity of real GDP.D) neither the price level nor the quantity of real GDP.Answer: DTopic: Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking3) In short-run macroeconomic equilibriumA) real GDP equals potential GDP and aggregate demand determines the price level.B) the price level is fixed and short-run aggregate supply determines real GDP.C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand.D) real GDP is less than potential GDP.Answer: CTopic: Short-Run Macroeconomic EquilibriumSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking4) The economy is in its short run equilibrium at the point where theA) price level is stable.B) SAS curve intersects the LAS curve.C) AD curve intersects the LAS curve.D) AD curve intersects the SAS curve.Answer: DTopic: Short-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking5) Short-run equilibrium occurs at the intersection ofA) the SAS and AD curves.B) the SAS, LAS, and AD curves.C) the SAS and LAS curves.D) the LAS and AD curves.Answer: ATopic: Short-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking6) If the economy is in short run equilibrium thenA) real GDP equals potential GDP.B) nominal GDP equals potential GDP.C) real GDP cannot be equal to potential GDP.D) real GDP can be greater than, less than, or equal to potential GDP. Answer: DTopic: Short-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking7) In the short-run, real GDP can be greater than or less than potential GDP because in the short run theA) money wage rate is fixed.B) quantity of capital is fixed.C) full-employment level of employment is fixed.D) price level is fixed.Answer: ATopic: Short-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10 AACSB: Reflective Thinking8) Short-run macroeconomic equilibrium occurs when the quantity of real GDP demanded ________.A) equals potential GDPB) equals full-employment GDPC) does not equal full-employment GDPD) equals the quantity of real GDP suppliedAnswer: DTopic: Short-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking9) In the short run, the equilibrium level of real GDPA) is necessarily less than potential GDP.B) is necessarily equal to potential GDP.C) is necessarily greater than potential GDP.D) could be less than, equal to, or greater than potential GDP.Answer: DTopic: Short-Run Macroeconomic EquilibriumSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking10) In the short run, the intersection of the aggregate demand and the short-run aggregate supply curves,A) determines the equilibrium price level.B) is a point where there is neither a surplus nor a shortage of goods.C) determines the equilibrium level of real GDP.D) All of the above answers are correct.Answer: DTopic: Short-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking11) A short-run macroeconomic equilibrium occursA) at the intersection of the short-run aggregate supply curve and the long-run aggregate supply curve.B) at the intersection of the short-run aggregate supply curve and the aggregate demand curve.C) at the intersection of the short-run aggregate supply curve, the long-run aggregate supply curve, and the aggregate demand curve.D) when the rate at which prices of goods and services increase equals the rate at which money wage rates increase.Answer: BTopic: Short-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking12) Last year in the country of Union, the price level increased and real GDP increased. Such an outcome might have occurred because short-run aggregate supply ________ and aggregate demand ________.A) decreased; decreasedB) increased; did not changeC) increased; decreasedD) did not change; increasedAnswer: DTopic: Short-Run Macroeconomic EquilibriumSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking13) At long-run macroeconomic equilibrium, ________.A) an inflationary gap existsB) real GDP equals potential GDPC) a recessionary gap existsD) real GDP is less than potential GDP but is as close as it is possible to be Answer: BTopic: Long-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking14) If the economy is at long run equilibrium thenA) real GDP equals potential GDP.B) nominal GDP equals potential GDP.C) real GDP cannot be equal to potential GDP.D) real GDP can be greater than, less than, or equal to potential GDP. Answer: ATopic: Long-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking15) Full-employment equilibrium occurs whenA) real GDP exceeds potential GDP.B) real GDP equals potential GDP.C) potential GDP exceeds real GDP.D) a result of an increase in long-run aggregate supply.Answer: BTopic: Long-Run Macroeconomic EquilibriumSkill: RecognitionQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking16) In long-run macroeconomic equilibrium,A) real GDP equals potential GDP.B) the price level is fixed and aggregate demand determines real GDP.C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand and long-run aggregate supply is irrelevant.D) real GDP is less than potential GDP.Answer: ATopic: Long-Run Macroeconomic EquilibriumSkill: ConceptualQuestion history: Previous edition, Chapter 10AACSB: Reflective Thinking。