NUK Bank agrees to lend David NT$1,230,000 to buy house. They agree to a nominal
interest rate of 1.375%. Both expect the inflation rate to be 4%.
(1) Calculate the expected real interest rate. (3%)
(2) If inflation rate turns out to be 2.5% over the life of the loan, what is the real
interest rate? Who gains from unexpectedly low inflation? (3%)
(3) If inflation rate turns out to be 5.5% over the life of the loan, what is the real
interest rate? Who gains from unexpectedly high inflation? (3%)
In January 2009, the ROC had a labor force of 10,881,000, employment of 10,303,000,
and there were 7,873,000 people not in the labor force.
(1) Calculate the unemployment rate. (3%)
(2) Calculate the participation rate. (3%)
(3) Calculate the employment ratio. (3%)
If Acer Corporation has current and future marginal productivity of capital given by
MPC = 6,000 − 3K + N , and marginal productivity of labor given by
MPL = 80 −1.5N + 2.5K . The price of capital is NT$3,000, the real interest rate is 2%,
and capital depreciates at a 10%. The real wage rate is NT$12.
(1) Calculate the user cost of capital. (3%)
(2) Find the Acer’s optimal amount of employment and the size of the capital stock.(3%)
What are the problems with using the stock index growth rate to forecast recessions?
(10%)
If the Central Bank of ROC decided to adopt the inflation targeting. Please describe
the strategy of inflation targeting. What are your opinions about the advantages and
disadvantages of inflation targeting? (10%)
True or False. Please explain your answers. (15%)
(1) Price equals marginal cost is a sufficient condition for firms’ profit maximization
in a competitive or monopoly industry.
(2) Suppose that a firm’s production is determined by labors and capitals. In the
long-run, the marginal product of labor is diminishing.
(3) In the short-run, a firm’s producer surplus equals the firm’s profits.
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