第三章测试1.
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:
A:the spending multiplier is 2. B:real GDP increases by $4 billion. C:taxes increase by $10 billion. D:real domestic investment decreases by $4 billion.
答案:B
2.
The locomotive theory posits that growth in one or more large countries:
A:will lead smaller countries to open their economies. B:can raise growth in other smaller countries that trade with these larger countries. C:can put pressure on their domestic import-competing firms. D:will retard the growth of smaller countries dependent on exports. 3.
The demand for money is:
A:negatively related to nominal GDP and to the level of interest rates available on other financial assets. B:positively related to nominal GDP and to the level of interest rates available on other financial assets. C:negatively related to nominal GDP and positively related to the level of interest rates available on other financial assets. D:positively related to nominal GDP and negatively related to the level of interest rates available on other financial assets. 4.
Perfect capital mobility implies:
A:an FE curve that is steeper than the LM curve. B:a vertical FE curve. C:an FE curve that is horizontal. D:high domestic interest rates relative to foreign interest rates. 5.
There are limits to the ability of monetary authorities to use sterilized intervention in the case of a deficit because:
A:the export level is fixed and it cannot be allowed to drop. B:the central bank may be unwilling to increase its holdings of foreign currency beyond a certain limit. C:the central bank’s ability to constantly obtain foreign currency for the sterilized intervention is constrained. D:the pressure from foreign countries to allow the domestic currency to appreciate will lead to large losses. 6.
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.
A:expansionary monetary; more B:sterilized intervention; more C:expansionary fiscal; more D:expansionary fiscal; less 7.
With floating exchange rates, the effects of international trade shocks on internal balance are _____ by the effects of the resulting change in the _____.
A:not mitigated; exchange rate. B:mitigated; exchange rate. C:mitigated; LM curve. D:not mitigated; LM curve. 8.
Which of the following statements is true？
A:Under floating exchange rates, external capital-flow shocks can have effects on internal balance by altering the exchange rate and the country's international competitiveness. B:An expansionary monetary policy tends to increase the exchange rate value of the domestic currency in the short run. C:Fiscal policy for a country with floating exchange rates is more powerful with a high degree of capital mobility than with a low degree of capital mobility. D:Monetary policy is a powerful economic tool for a country with fixed exchange rates and high capital mobility. 9.
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.（ ）
A:错 B:对 10.
International crowding out is the tendency of expansionary fiscal policy to appreciate the country’s currency and worsen the current account.（ ）
A:对 B:错
