第三章For small open economy, assume that the marginal propensity to import is 0.3, and that interest rates, exchange rates, and the price level are all constant. If an increase of $10 billion in government spending results in an increase of $6 billion in imports, then:
答案:real GDP increases by $4 billion.
The locomotive theory posits that growth in one or more large countries:The demand for money is:Perfect capital mobility implies:There are limits to the ability of monetary authorities to use sterilized intervention in the case of a deficit because:Assume that the exchange rates are fixed. When money demand is less sensitive to interest rate changes than are international capital flows, _____ policy will be _____ effective than when money demand is more sensitive to interest changes than are international capital flows.With floating exchange rates, the effects of international trade shocks on internal balance are _____ by the effects of the resulting change in the _____.Which of the following statements is true？A central bank can sterilize the increase in the money supply that results from an intervention to defend a fixed exchange rate by selling domestic government bonds.（ ）International crowding out is the tendency of expansionary fiscal policy to appreciate the country’s currency and worsen the current account.（ ）
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