Chung (Macroeconomics - K59VJCC) - Microsoft Teams

18/6/2021 Mid-term_2021 (Macroeconomics _K59VJCC)
Mid-term_2021 (Macroeconomics
_K59VJCC)
Note: You must answer questions 1-20 and need to choose between question 21 and question
22
1. In the actual economy, households

(3.5 Điểm)
spend all of their income.
divide their income among spending, taxes, and saving.
buy all goods and services produced in the economy.
Both (a) and (c) are correct.
2. Which of the following events would cause GDP for 2017

(3.5 Điểm)
In February 2017, Lan sells a 1996 Honda Accord to Nam.
In February 2017, Lan buys a air ticket to visit Ho chi Minh City. She visits the City in April
2017.
In December 2017, Lan eats onions that she harvested from her backyard garden in
October 2017
All of the above are correct.
https://teams.microsoft.com/_#/school/classroom/Chung?threadId=19:7db34b5c1276407f98b3e4430b5c9acb@thread.tacv2&ctx=channel 1/8
3. Which of the following is not included in GDP?

(3.5 Điểm)
carrots grown in your garden and eaten by your family
carrots purchased at a farmer’s market and eaten by your family
carrots purchased at a grocery store and eaten by your family
More than one of the above is not included in GDP.
4. Greg, a U.S. citizen, works only in Canada. The value of the output he produces is
(3.5 Điểm)
included in both U.S. GDP and U.S. GNP.
included in neither U.S. GDP nor U.S. GNP.
includ in U.S. GDP, but it is not included in U.S. GNP.
included in U.S. GNP, but it is not included in U.S. GDP.
5. Which of the following is correct?

(3.5 Điểm)
Nominal GDP never equals real GDP.
Nominal GDP always equals real GDP.
Nominal GDP equals real GDP in the base year.
Nominal GDP equals real GDP in all years but the base year.
6. When the consumer price index rises, the typical family

(3.5 Điểm)
has to spend more dollars to maintain the same standard of living.
can spend fewer dollars to maintain the same standard of living.
can offset the effects of rising prices by saving more.
finds that its standard of living is not affected
7. If the CPI was 110 this year and 100 last year, then
(3.5 Điểm)
the cost of the CPI basket of goods and services increased by 110 percent this year.
the price level increased by 10 percent this year.
the inflation rate for this year was 10 percent higher than the inflation rate for last year.
8. The nominal interest rate tells you

(3.5 Điểm)
how fast the number of dollars in your bank account rises over time.
the number of dollars in your bank account today.
how fast the purchasing power of your bank account rises over time.
the purchasing power of your bank account today.
9. By saving more, a country

(3.5 Điểm)
has more resources for capital goods. The increase in capital raises productivity.
has more resources for capital goods. The increase in capital reduces productivity.
has fewer resources for capital goods. The decrease in capital raises productivity.
has fewer resources for capital goods. The decrease in capital reduces productivity.
10. Consider the expressions T - G and Y - T - C. Which of the following statements is

correct?
(3.5 Điểm)
Each one of these is equal to national saving.
The first of these is private saving; the second one is public saving.
Each one of these is equal to public saving.
The first of these is public saving; the second one is private saving.
11. Crowding out occurs when investment declines because

(3.5 Điểm)
a budget deficit makes interest rates rise.
a budget deficit makes interest rates fall.
a budget surplus makes interest rates rise.
a budget surplus makes interest rates fall.
12. On a production function, as capital per worker increases, output per worker
(3.5 Điểm)
increases. This increase is larger at larger values of capital per worker.
increases. This increase is smaller at larger values of capital per worker.
decreases. This decrease is larger at larger value of capital per worker.
decreases. This decrease is smaller at larger value of capital per worker.
13. If Congress instituted an investment tax credit, the interest rate would
(3.5 Điểm)
rise and saving would rise.
fall and saving would fall.
rise and saving would fall.
fall and saving would rise.
14. Frictional unemployment can be the consequence of

(3.5 Điểm)
workers leaving existing jobs to find ones they like better.
one industry declining while another is growing.
changes in the working conditions offered by competing firms.
15. The efficiency-wage theory of worker turnover suggests that firms with
(3.5 Điểm)
higher turnover will have higher production costs and higher profits.
higher turnover will have higher production costs and lower profits.
higher turnover will have lower production costs and higher profits.
higher turnover will have lower production costs and lower profits.
16. Suppose we have an economy containing 2000 5$ bills.
If banks maintain 100 percent reserves, the quantity of money is

(3.5 Điểm)
2000
1000
10 000
None of the above is correct
If reserve ratio of banks is 20%, the money multiplier is

(3.5 Điểm)
5.0
1.3
2.0
18. Suppose we have an economy containing 2000 5$ bills
If currency-deposit ratio is 60% and reserve ratio of banks is 20%, the quantity of
money is
(3.5 Điểm)
50 000
2000
8000
19. Suppose we have an economy containing 2000 5$ bills
If people hold all money as demand deposits and banks maintain a reserve ratio of
20%, the quantity of money is
(3.5 Điểm)
50 000
2000
8000
If people hold equal amounts of currency and demand deposits and banks
maintain a reserve ratio of 25%, the amount of currency is
(3.5 Điểm)
10 000
2000
8000
21. Choose 1 out of 2 Options
Option 1 (30 points)
Consumers save 1/4 of the tax cut and spend the other 3/4.
Government decreases taxes by 200 billion. Using supply-demand model of

market for loanable funds, show and explain
a. What happens to interest rates and investment? (10 ponits)
b. Compare the change of investment with the change of taxes and explain (20
points)
(30 Điểm)
a. At first, when tax is not cut, 200 billion of goverment is used as a loanable funds. But when tax
is cut and consumers use it mostly for spending and the smaller part for saving then supply of
funds for investment decreases, The Supply Curve shifts left => Investment decreases, higher
interest rate.
b. The change of tax is decreasing 200 billion
The change of investment is increasing 1/4*200=50 billion, less 150 billion than case tax is not
cut
=> The change of investment < the change of taxes
This comparison show that this tax cut policy is not effective because they cut lots of tax but the
h i i t ti hl Thi h h b h t i db
22. Option 2 (30 points)
Using production function to describe the determinants of total output (10 points)
List and explain briefly two policies that attempt to raise output by increasing one
of the determinants of total output (20 points)
(30 Điểm)
Nhập câu trả lời của bạn
Nội dung này được tạo bởi chủ sở hữu của biểu mẫu. Dữ liệu bạn gửi sẽ được gửi đến chủ sở hữu biểu mẫu. Microsoft
không chịu trách nhiệm về quyền riêng tư hoặc thực tiễn bảo mật của khách hàng, bao gồm cả các biện pháp bảo mật
của chủ sở hữu biểu mẫu này. Không bao giờ đưa ra mật khẩu của bạn.
Hoạt động trên nền tảng Microsoft Forms | Quyền riêng tư và cookie | Điều khoản sử dụng

Chung (Macroeconomics - K59VJCC) - Microsoft Teams

Uploaded by

Copyright:

Available Formats

You might also like

Chung (Macroeconomics - K59VJCC) - Microsoft Teams

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Chung (Macroeconomics - K59VJCC) - Microsoft Teams

Uploaded by

Copyright:

Available Formats

18/6/2021 Mid-term_2021 (Macroeconomics _K59VJCC)

1. In the actual economy, households

spend all of their income.

divide their income among spending, taxes, and saving.

buy all goods and services produced in the economy.

Both (a) and (c) are correct.

2. Which of the following events would cause GDP for 2017

In February 2017, Lan sells a 1996 Honda Accord to Nam.

All of the above are correct.

3. Which of the following is not included in GDP?

carrots grown in your garden and eaten by your family

carrots purchased at a farmer’s market and eaten by your family

carrots purchased at a grocery store and eaten by your family

More than one of the above is not included in GDP.

included in both U.S. GDP and U.S. GNP.

included in neither U.S. GDP nor U.S. GNP.

includ in U.S. GDP, but it is not included in U.S. GNP.

included in U.S. GNP, but it is not included in U.S. GDP.

5. Which of the following is correct?

Nominal GDP never equals real GDP.

Nominal GDP always equals real GDP.

Nominal GDP equals real GDP in the base year.

6. When the consumer price index rises, the typical family

has to spend more dollars to maintain the same standard of living.

can spend fewer dollars to maintain the same standard of living.

can offset the effects of rising prices by saving more.

finds that its standard of living is not affected

the price level increased by 10 percent this year.

All of the above are correct.

8. The nominal interest rate tells you

the number of dollars in your bank account today.

the purchasing power of your bank account today.

9. By saving more, a country

10. Consider the expressions T - G and Y - T - C. Which of the following statements is

Each one of these is equal to national saving.

Each one of these is equal to public saving.

11. Crowding out occurs when investment declines because

a budget deficit makes interest rates rise.

a budget deficit makes interest rates fall.

a budget surplus makes interest rates rise.

a budget surplus makes interest rates fall.

increases. This increase is larger at larger values of capital per worker.

increases. This increase is smaller at larger values of capital per worker.

decreases. This decrease is larger at larger value of capital per worker.

decreases. This decrease is smaller at larger value of capital per worker.

rise and saving would rise.

fall and saving would fall.

rise and saving would fall.

fall and saving would rise.

14. Frictional unemployment can be the consequence of

workers leaving existing jobs to find ones they like better.

one industry declining while another is growing.

changes in the working conditions offered by competing firms.

All of the above are correct.

16. Suppose we have an economy containing 2000 5$ bills.

If banks maintain 100 percent reserves, the quantity of money is

None of the above is correct