TRƯỜNG ĐẠI HỌC NGOẠI THƯƠNG

BÀI THI KẾT THÚC HỌC PHẦN

Tên học phần : Kinh tế vĩ mô 1
Giai đoạn II học kỳ II năm học 2020-2021

Họ và tên sinh viên: Nguyễn Hoàng Minh Ngày thi: 15/07/2021

Ngày sinh: 31/12/2002 Ca thi: 2

Mã sinh viên :2014450211 Phòng thi: 2

Lớp tín chỉ:KTEE204CLC.3 Số trang bài làm: 5

Điểm bài thi Họ tên và chữ ký của giáo viên chấm thi
Bằng số Bằng chữ
GV chấm thi 1:

GV chấm thi 2:

PHẦN BÀI LÀM

Code No.1
Part A:
Question 1:
TRUE
Explanation:
We have: Budget = T(Tax) – G(Government spending)
According to the question: T > G
Budget > 0
It creates budget surplus
Question 2:
FALSE
Explanation:
If the public decides to hold less currency and more deposits in banks, bank reserves
increase and the money supply eventually increases.
Because MS = B*mM and the public decides to hold more deposits, it means mM
(multiplier money) increases MS increases
Question 3:
TRUE
Explanation:
According to neoclassical growth theory and the graph, in the absence of technology,
higher capital leads to higher productivity but no long-term increase in productivity.
Technological progress makes the production function move upwards, K/L increases
Y/L continues to increase in the long run.

Question 4:
FALSE

Explannation:
If banks decide to hold more excess reserves relative to deposits, they will provide fewer
loans. Fewer loans will cause reduction in investment because of lack of funds. This will
cause the money supply to fall.
Federal Reserve can increase the money supply by buying treasury bonds. When Feds
buy treasury bonds they pay for it. This increases the money supply in the market.
Question 5:
TRUE

Explanation:

An inflationary gap exists when the demand for goods and services exceeds production
due to factors such as higher levels of overall employment, increased trade activities, or
elevated government expenditure.
Against this backdrop, the real GDP can exceed the potential GDP, resulting in an
inflationary gap. In order to remedy this gap, the SRAS curve and/or the AD must shift
to the left. Contractionary fiscal policy and monetary policy tightening to deal with the
" inflationary gap", to reach potential output in the economy.

Part B:
The world as far as we might be concerned is continually changing and one of the
principal drivers is computerized change. At its center, digital transformation is tied in
with utilizing the furthest down the line innovation to do what you as of now improve.
We can see the most clear digital transformation in the worldwide economy and
prompting the introduction of virtual monetary forms - Bitcoin is a delegate of it.

So, what is the digital economy? The digital economy is defined as an economy that
focuses on digital technologies, i.e. It is based on digital and computing technologies. It
essentially covers all business, economic, social, cultural, etc. Activities that are
supported by the web and other digital communication technologies (Group 9). The
backbone of the digital economy is hyperconnectivity which means the growing
interconnectedness of people, organizations, and machines that results from the Internet,
mobile technology, and the internet of things(IoT).

With the solid blast of the advanced economy and particularly blockchain innovation,
the introduction of virtual cash (or Bitcoin) is an unavoidable outcome. It is viewed as
the existence of the organization in the current monetary and monetary business sectors.
Bitcoin brings to the world endless advantages and applications throughout everyday
life and yet it additionally has restrictions.

The advantages of bitcoin are enormous in the advanced economy. Notwithstanding,

there are a couple of advantages that stick out. First and foremost, fast and inexpensive
(Senha Kulkarni, 2021). When a deal was done in bitcoin, the expense is insignificant
or non-existent. Bitcoins can be shipped to any country in the world. This, joined with
the assurance of client rights insurance, makes Bitcoin the main genuinely worldwide
money. The second is Decentralized Release (Senha Kulkarni, 2021). Bitcoin can't be
managed or valued by any administration or national bank, and it can't be made or
circulated by any administration or national bank. This coin is de-politicized with
Bitcoin on the grounds that it was made by individuals. No outsider obstruction. Nobody
has the position to freeze, charge or guarantee your cash. In addition, the reality is Lower
Fraud Risks and Transparency (Senha Kulkarni, 2021). Bitcoin permits purchasers to
finish exchanges without uncovering any classified monetary data to merchants.

Virtual currency trading, on the other hand, has its restrictions. To begin with, the
Bitcoin price is quite volatile, rapidly rising and declining. Following a quadrupling in
2020, the Bitcoin price enters 2021 at $29,000. The Bitcoin price reached an all-time
high of about $65,000 in April. Bitcoin has already lost over half of its value since its
all-time high (Thu Hai, 2021). The world’s most well-known cryptocurrency, however,
suffered a notable correction in April after speculation on government regulation.
Another reason, according to experts, was an electricity blackout in the Xinjiang region
in China. This unexpected development led to a decline in the Bitcoin hashrate - how
many Bitcoins are being mined – and potentially spooked investors into selling their
assets (Group 7). Investing in bitcoin is thus excessively risky. Furthermore, Bitcoin
investments are unregulated (Senha Kulkarni, 2021). The lack of regulatory control is
one of the most serious constraints of investing in bitcoin. Cryptocurrency regulations
and taxation differ from country to country and are frequently confusing or contentious.
Regulators are often lacking, which can lead to fraud. Finally, if the hard drive fails or
the virus corrupts the data and the wallet file is destroyed, the risk of losing Bitcoin
basically "disappears." This has the ability to bankrupt a wealthy Bitcoin investor in a
matter of seconds, and there is no way to retrieve your lost bitcoins.

In conclusion, obviously, the digital economy plays an integral part of the whole
economy and cryptocurrencies have been and continue to be an unavoidable trend in the
growth of money as well as information technology. When confronted with bitcoin and
other virtual currencies, each individual must be informed of the benefits and drawbacks
of it. Finally, Vietnam needs policies to improve information technology infrastructure,
build and strengthen the capacity of financial experts, encryption and security
specialists, and promote public knowledge about the nature of Bitcoin and other virtual
currencies.

Reference
1. Thu Hải. 2021. Giá Bitcoin hôm nay 24/6 giảm về 32.000 USD mang nhiều rủi ro
pháp lý. [ONLINE] Available at:
https://vinanet.vn/kinhte-taichinh/gia-bitcoin-hom-nay-246-giam-ve-32000-usd-do-
nhieu-rui-ro-mang-tinh-phap-ly-745206.html
2. Senha Kulkarni. 2021. Bitcoin: Pros And Cons Of Investing In World's Largest
Cryptocurrency. [ONLINE] Available at:
https://www.goodreturns.in/classroom/pros-and-cons-of-investing-in-bitcoin-
advantages-and-disadvantages-of-bitcoin-cryptocurrency-1209500.html
3. ueh.edu.vn. 2021. Tiền tệ kỹ thuật số: Yếu tố then chốt của nền kinh tế bền vững
trong tương lai? [ONLINE] Available at:
https://www.ueh.edu.vn/khoa-hoc/tien-te-ky-thuat-so-yeu-to-then-chot-cua-nen-
kinh-te-ben-vung-trong-tuong-lai-57227
4. Deloitte. What is digital economy? Unicorns, transformation and the internet of
things [ONLINE] Available at:
https://www2.deloitte.com/mt/en/pages/technology/articles/mt-what-is-digital-
economy.html
5. Group 7. 2021. Is Bitcoin in a dangerous bubble [ONLINE] Available at:
https://docs.google.com/document/d/1ycIbJzLh7qT4iOwBIxQVHbOTySPfSWzU/edit
#
6. Group 9. 2021. Digital ecomony [ONLINE] Available at:
https://docs.google.com/document/d/1X9xpbsHu0rGNIEyVCbSfCGm1Vgir3cen/edit#