Mid Term Exam

Câu Hỏi
1
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Đặt cờ
Đoạn văn câu hỏi
When the Fed decreases the discount rate, banks will borrow more from the Fed, lend
a.
less to the public, and so the money supply will increase
b.
less to the public, and so the money supply will decrease
c.
more to the public, and so the money supply will increase
d.
more to the public, and so the money supply will decrease
Câu Hỏi 2
Đúng
Đặt cờ
The nominal interest rate is the
a.
interest rate corrected for inflation
b.
real rate of return to the lender
c.
real cost of borrowing to the borrower
d.
interest rate as usually reported by banks
Câu Hỏi 3
Đúng
Đặt cờ
When economists talk about growth in the economy, they measure that growth with the
a.
absolute change in real GDP
b.
absolute change in nominal GDP
c.
percentage change in real GDP
d.
percentage change in nominal GDP
Câu Hỏi 4
Đúng
Đặt cờ
Because a government budget deficit represents
a.
negative public saving, it increases national savings
b.
positive public saving, it decreases national savings
c.
positive public saving, it increases national savings
d.
negative public saving, it decreases national savings
Câu Hỏi 5
Sai
Đặt cờ
An increase in the price of dairy products produced domestically will be reflected in
a.
both the GDP deflator and the consumer price index
b.
the consumer price index but not in the GDP deflator
c.
neither the GDP deflator nor the consumer price index
d.
the GDP deflator but not in the consumer price index
Câu Hỏi 6
Đúng
Đặt cờ
In an open economy, the market for loanable funds equates national saving with
a.
the sum of domestic investment and net capital outflow
b.
the sum of national consumption and government spending
c.
domestic investment
d.
net capital outflow
Câu Hỏi 7
Đúng
Đặt cờ
M1 is
a.
smaller but more liquid than M2
b.
larger than but more liquid than M2
c.
larger than and less liquid than M2
d.
smaller and less liquid than M2
Câu Hỏi 8
Đúng
Đặt cờ
A higher real interest rate raises the quantity of
a.
loanable funds supplied
b.
loanable funds demanded
c.
domestic investment
d.
net capital outflow
Câu Hỏi 9
Đúng
Đặt cờ
Paper money
a.
is valuable only because of the legal tender requirement
b.
is used in a barter economy
c.
is valuable because it is generally accepted in trade
d.
has a high intrinsic value
Câu Hỏi 10
Đúng
Đặt cờ
The price level is a
a.
real variable
b.
relative variable
c.
nominal variable
d.
actual variable
Câu Hỏi 11
Đúng
Đặt cờ
To increase the money supply, the Fed could
a.
None are correct
b.
decrease the discount rate
c.
increase the required reserve
d.
sell government bonds
Câu Hỏi 12
Đúng
Đặt cờ
Suppose a bank has a 10 percent reserve ratio, $5,000 in deposits, and it loans out all it can
given the reserve ratio.
a.
It has $555 in reserves and $4,445 in loans
b.
None of the above is correct
c.
d.
Câu Hỏi 13
Đúng
Đặt cờ
The purchase of a capital asset adds to the demand for loanable funds
a.
None of the above is correct.
b.
whether the asset is located at home or abroad
c.
only if the asset is located at home
d.
only if the asset is located abroad.
Câu Hỏi 14
Đúng
Đặt cờ
If the current market interest rate for loanable funds is below the equilibrium level, then
there is a
a.
shortage of loanable funds and the interest rate will rise
b.
shortage of loanable funds and the interest rate will fall
c.
surplus of loanable funds and the interest rate will fall
d.
surplus of loanable funds and the interest rate will rise
Câu Hỏi 15
Đúng
Đặt cờ
Other things the same, as the maturity of a bond becomes longer, the bond will pay
a.
more interest because it has more risk
b.
There is no relation between term to maturity and risk
c.
less interest because it has more risk
d.
less interest because it has less risk
Câu Hỏi 16
Đúng
Đặt cờ

If the Fed sells government bonds to the public, bank reserves tend to
a.
increase and the money supply increases
b.
increase and the money supply decreases
c.
decrease and the money supply increases
d.
decrease and the money supply decreases
Câu Hỏi 17
Đúng
Đặt cờ
In the open-economy macroeconomic model, if a country’s interest rate increases, its net
capital outflow
a.
and the real exchange rate increase
b.
decreases and the real exchange rate increases
c.
and the real exchange rate decrease
d.
increases and the real exchange rate decreases
Câu Hỏi 18
Đúng
Đặt cờ
Randy pays $120 for a bag of goods he purchases at the HyValu discount store.
a.
Both the $120 and the bag of groceries are nominal variables
b.
Both the $120 and the bag of groceries are real variables
c.
The $120 is a nominal variable; the bag of groceries is a real variable
d.
The $120 is a real variable; the bag of groceries is a nominal variable
Câu Hỏi 19
Sai
Đặt cờ
The People’s Republic of China has had a large trade surplus in recent years. Which of the
following is the most likely explanation of this surplus?
a.
China has a large amount of saving relative to domestic investment
b.
China has a high rate of inflation, which reduces the value of its currency
c.
China has many trade barriers, which restrict the ability of other countries to sell their products in
China
d.
China has a large supply of labor, so low wages give it a competitive edge
Câu Hỏi 20
Đúng
Đặt cờ
Ivan, a Russian citizen, sells several hundred cases of caviar to a restaurant chain in the US.
By itself, this sale
a.
increases U.S. net exports and decreases Russian net exports
b.
decreases U.S. net exports and increases Russian net exports
c.
decreases U.S. net exports and has no effect on Russian net exports
d.
increases U.S. net exports and has no effect on Russian net exports
Câu Hỏi 21
Đúng
Đặt cờ
When prices are falling, economists say that there is
a.
deflation
b.
a contraction
c.
an inverted inflation
d.
disinflation
Câu Hỏi 22
Đúng
Đặt cờ
If a country’s imports are greater than its exports, the country is said to have a
a.
trade surplus
b.
comparative advantage
c.
absolute advantage
d.
trade deficit
Câu Hỏi 23
Đúng
Đặt cờ
If real GDP doubles and the GDP deflator doubles, then nominal GDP will
a.
triple
b.
stay the same
c.
double
d.
quadruple
Câu Hỏi 24
Đúng
Đặt cờ
If a U.S. shirt maker purchases cotton from Egypt, U.S. net exports
a.
decrease, and U.S. net capital outflow decreases
b.
increase, and U.S. net capital outflow decreases
c.
increase, and U.S. net capital outflow increases
d.
decrease, and U.S. net capital outflow increases
Câu Hỏi 25
Sai
Đặt cờ
Recessions are associated with which of the following?
a.
falling output
b.
All are correct
c.
falling profits
d.
increased bankruptcies
Câu Hỏi 26
Đúng
Đặt cờ
The open-economy macroeconomic model includes
a.
neither the market for loanable funds or the market for foreign-currency exchange
b.
only the market for foreign-currency exchange
c.
both the market for loanable funds and the market for foreign-currency exchange
d.
only the market for loanable funds
Câu Hỏi 27
Đúng
Đặt cờ
When the money market is drawn with the value of money on the vertical axis, an increase
in the price level causes a
a.
movement to the right along the money demand curve
b.
shift to the right of the money demand curve
c.
shift to the left of the money demand curve
d.
movement to the left along the money demand curve
Câu Hỏi 28
Sai
Đặt cờ
According to the classical dichotomy, which of the following is influenced by monetary

factors?
a.
unemployment
b.
real GDP
c.
All of the above are correct
d.
nominal interest rates
Câu Hỏi 29
Đúng
Đặt cờ
Inflation can be measured by the
a.
percentage change in the consumer price index
b.
change in the consumer price index
c.
change in the price of a specific commodity
d.
percentage change in the price of a specific commodity
Câu Hỏi 30
Đúng
Đặt cờ
An increase in the real interest rate
a.
encourages people to save and so decreases the quantity of loanable funds supplied
b.
discourages people from saving and so decreases the quantity of loanable funds demanded
c.
encourages people to save and so increases the quantity of loanable funds supplied
d.
discourages people from saving and so increases the quantity of loanable funds demanded

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Câu Hỏi

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Đoạn văn câu hỏi

The nominal interest rate is the

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Because a government budget deficit represents

Đoạn văn câu hỏi

An increase in the price of dairy products produced domestically will be reflected in

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

A higher real interest rate raises the quantity of

Đoạn văn câu hỏi

Đoạn văn câu hỏi

The price level is a

Đoạn văn câu hỏi

To increase the money supply, the Fed could

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

When prices are falling, economists say that there is

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Đoạn văn câu hỏi

Đoạn văn câu hỏi

Đoạn văn câu hỏi

Recessions are associated with which of the following?

Đoạn văn câu hỏi

The open-economy macroeconomic model includes

Đoạn văn câu hỏi

Đoạn văn câu hỏi

According to the classical dichotomy, which of the following is influenced by monetary

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Inflation can be measured by the

Đoạn văn câu hỏi

An increase in the real interest rate

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