From the following table, national saving is
Consumption $190 (current dollars)
Investment 80
Government spending 60
Net taxes 50
Imports 30
Exports 20
130
120
110
100
90
80
70
60
50
40
30
20
10
0
If money wages rise the instant that the money supply increases, the price level
and output both would rise.
would rise and output would fall.
would rise and output would remain constant.
and output both would fall.
and output both would remain constant.
A Lorenz curve plots the cumulative percentage of income against the cumulative
percentage of
area
output
consumption
population
The policy tool of the central bank that relies on bank borrowing is the
required reserve ratio for depository institutions
tax rate on bank profits
buying and selling of government bonds
discount rate.
A business cycle shock is the
economic event that begins a business cycle fluctuations.
public response to economic fluctuations.
mechanism that causes a cycle to continue.
effects of an economic impulse to be eliminated.
Intertemporal substitution in labor supply describes shifts over time in labor supply in
response to changes in
money wages.
real wages.
the real interest rate.
consumer demand for goods.
the real income.
Mr. Wang works as a clerk in a retail store during the day and is taking accounting
classes in the evening. Mr. Wang is
not producing a good or a service.
producing inside his production possibility frontier.
producing outside his production possibility frontier
accumulating human capital.
If the real interest rate is below the equilibrium point for the demand for investment
funds and the supply of funds,
lenders will be unable to find borrowers willing to borrow all of the available funds
and the real interest rate will fall.
borrowers will be unable to borrow all of the funds they want to borrow and the real
interest rate will rise
lenders will be unable to find borrowers willing to borrow all of the available funds
and the real interest rate will rise.
borrowers will be unable to borrow all of the funds they want to borrow and the real
interest rate will fall.
a rationing scheme may arise for the funds to be rationed.
the price mechanism will cause the real interest rate to rise.
Without international borrowing and lending, with free trade a country's exports will
be less than its imports when the money supply increases.
exceeds its imports when the money supply increases.
equal its imports independent of the money supply.
equal its output net of domestic expenditures.
be less than its output net of domestic expenditures when the money supply increases.
All of the following are necessary preconditions for economic growth except
restrictions on private ownership of factors of production.
markets.
property rights.
exchange using goods rather than money.
monetary exchange.
解釋下列名詞,並說明該名詞之概念在總體經濟理論中的意涵
Lucas 的批判(Lucas critique)
解釋下列名詞,並說明該名詞之概念在總體經濟理論中的意涵
效率工資(efficiency wage)
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