An increase in the effective tax rate on capital would cause the IS curve to _______ and
the LM curve to ________.
shift down and to the left; be unchanged
shift down and to the left; shift up and to the left
shift up and to the right; be unchanged
shift up and to the right; shift up and to the left
Which of the following macroeconomic variables would you exclude from an index of
leading economic indicators?
Money supply
Industrial production
Inventory investment
Residential investment
Velocity is defined as
nominal money stock/nominal GDP
nominal GDP/nominal money stock
real money stock/real GDP.
mc2 .
Three factors that cause interest rates among different financial instruments to vary are
default risk, expected inflation, and taxability
default risk, current inflation, and taxability
default risk, maturity, and taxability.
default risk, expected inflation, and maturity.
Frictional unemployment arises when
unskilled or low-skilled workers find it difficult to obtain desirable, long-term jobs
labor must be reallocated from industries that are shrinking to areas the are
growing.
workers must search for suitable jobs and firms must search for suitable workers
output and employment are below full-employment levels
The uses-of-saving identity says that an economy’s private saving is used for
investment, interest expenses, and the government budget deficit
investment, the government budget deficit, and the current account.
investment, interest expenses, the government budget deficit, and the current
account.
investment, interest expenses, the government budget deficit, transfer payments,
and the current account.
An increase in taxes (when Ricardian equivalence doesn’t hold) causes the real interest
rate to _______ and the price level to _______ in general equilibrium.
rise; rise
rise; fall
fall; rise
fall; fall
The primary factor that caused some economists to lose their faith in the Keynesian
approach to macroeconomic policy was
the high levels of unemployment that occurred during the Great Depression
the presence of both high unemployment and high inflation during the 1970s
theoretical proof that Keynes’s ideas were invalid.
evidence that Keynes’s ideas were useful during economic recessions, but not
during economic booms
Suppose that a monopoly can produce any level of output it wishes at a constant
marginal (and average)cost of $5 per unit. Assume that the monopoly sells its goods in
two different markets that are separated by some distance. The demand curve in the
first market is given by Q1 =110 − 2P1 and the demand curve in the second market is
given by Q2 = 85 − P2 .
(1) If it only costs demanders $3 to transport goods between the two markets, what
level of output should be produced in each market, and what price will prevail in
each market? What are total profits in this situation? (10%)
(2) How would your answer change if transportation costs were zero and the firm was
forced to follow a single-price policy? (10%)
風險中立的投資人某甲考慮是否購買一筆土地。其若購買該筆土地,則將於一年
後賣出。該土地目前售價為100 萬元,一年後有0.6 的機率價格為170 萬元,有
0.4 的機率價格為30 萬元。假設土地買賣無任何稅及交易成本,且某甲若不將資
金用於購買土地,則只能將錢放在保險箱中。
在決定是否購買該筆土地之前,某甲可向某乙購買關於該土地未來價格的報
告。報告有兩種結果:價值高與價值低。有0.5 的機率報告結果為價值高,有0.5
的機率報告結果為價值低。若結果為價值高,則該筆土地在一年後有0.8 的機率
價格為170 萬元,有0.2 的機率價格為30 萬元。若結果為價值低,則該筆土地在
一年後有0.4 的機率價格為170 萬元,有0.6 的機率價格為30 萬元。
(a) 若某甲不購買某乙的資訊,則其購買該筆土地所獲得的期望利潤為 (3)
萬元。
(b) 某甲最多願意付 (4) 萬元來購買某乙的資訊。
某丁消費X、Y兩種財貨。某丁的效用函數為U(x, y) = x + y ,其中x與y 為某丁
消費財貨X 與Y 的數量。財貨X 的單位價格為30 元,Y 的單位價格為40 元,某
丁每週所得為240 元。消費一單位的X 需花費2 小時,消費一單位的Y 需花費1
小時。令Z 代表某丁每週可用於消費財貨X 與Y 的小時數。某人極大化其效用。
(a) 若Z =14,則某丁每週財貨X的消費數量為 (8) 單位。
(b) 若Z = 5,則某丁每週財貨Y的消費數量為 (9) 單位。
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