宏观经济分析第4章练习题+答案Word文档格式.docx
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宏观经济分析第4章练习题+答案Word文档格式.docx
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E4.Whichofthefollowingisacomponentofmoney?
a.coinsheldbythenonbankpublic.
b.billsheldbybanks.
c.checkabledeposits.
d.alloftheabove
M5.Whichofthefollowingwillcauseanincreaseintheamountofmoneythatonewishestohold?
a.anincreaseintheinterestrateincrease.
b.areductionintheinterestrateincrease.
c.areductioninincome.
d.noneoftheabove
M6.Themoneydemandcurvewillshifttotherightwhenwhichofthefollowingoccurs?
a.anincreaseinincome.
b.areductionintheinterestrate.
c.anincreaseinthemoneysupply.
M7.Themoneydemandcurvewillshifttotheleftwhenwhichofthefollowingoccurs?
a.areductionintheinterestrate
b.anincreaseintheinterestrate
c.anopenmarketsaleofbondsbythecentralbank
d.anincreaseinincome
e.noneoftheabove
E8.WhichofthefollowingisNOTincludedasacomponentoftheM1definitionofmoney?
b.checkabledeposits.
c.coinsandbillsheldbythenonbankpublic.
M9.In2006,theaverageU.S.householdheldapproximatelyhowmuchcurrency(dollarbillsandcoins)?
a.$50.
b.$100.
c.$600.
d.$1600.
M10.WhichofthefollowingcountrieshasadoptedtheU.S.dollarasitsowncurrency?
a.Ecuador.
b.Mexico.
c.Canada.
d.France.
e.Australia.
M11.Atthecurrentinterestrate,supposethesupplyofmoneyislessthanthedemandformoney.Giventhisinformation,weknowthat:
a.thepriceofbondswilltendincrease.
b.thepriceofbondswilltendtofall.
c.productionequalsdemand.
d.thegoodsmarketisalsoinequilibrium.
e.thesupplyofbondsalsoequalsthedemandforbonds.
M12.Theinterestratewillincreaseasaresultofwhichofthefollowingevents?
b.anopenmarketpurchaseofbondsbythecentralbank.
E13.WhichofthefollowingisNOTanassetonabank'
sbalancesheet?
a.Reserves.
b.Loans.
d.Alloftheabove.
e.Noneoftheabove.
E14.Whichofthefollowingisaliabilityonabank'
a.Checkabledeposits.
b.Reserves.
c.Loans.
E15.Whichofthefollowingisaliabilityforthecentralbank?
a.currency.
b.bonds.
c.savingsaccounts.
d.loans.
e.checkabledeposits.
M16.Supposeaone-yeardiscountbondofferstopay$1000inoneyearandcurrentlysellsfor$950.Giventhisinformation,weknowthattheinterestrateonthebondis
a.5.3%.
b.9.5%%.
c.10%.
d.90%.
e.110%.
M17.Supposeaone-yeardiscountbondofferstopay$1000inoneyearandcurrentlyhasa15%interestrate.Giventhisinformation,weknowthatthebond'
spricemustbe:
a.$869.56.
b.$1150.
c.$850.
d.$950.
E18.Banksaredifferentfromotherfinancialintermediariesbecause
a.banksreceivefundsandmakeloans.
b.someofabank'
sdepositsaremoney.
c.bankscanconductopenmarketoperationsontheirown.
d.banksdonotneedtoholdreservesagainsttheirdeposits.
e.banksareopenlongerhours.
M19.Whichofthefollowinggenerallyoccurswhenacentralbankpursuesexpansionarymonetarypolicy?
a.thecentralbankpurchasesbondsandtheinterestrateincreases.
b.thecentralbankpurchasesbondsandtheinterestratedecreases.
c.thecentralbanksellsbondsandtheinterestrateincreases.
d.thecentralbanksellsbondsandtheinterestratedecreases.
M20.Whichofthefollowinggenerallyoccurswhenacentralbankpursuescontractionarymonetarypolicy?
M21.Whichofthefollowingwilloccurwhenthecentralbankpursuesexpansionarymonetarypolicy?
a.aleftwardshiftinthemoneydemandcurveandaleftwardshiftinthemoneysupplycurve
b.arightwardshiftinthemoneydemandcurveandaleftwardshiftinthemoneysupplycurve.
c.aleftwardshiftinthemoneydemandcurveandarightwardshiftinthemoneysupplycurve.
d.arightwardshiftinthemoneydemandcurveandarightwardshiftinthemoneysupplycurve.
M22.Whichofthefollowingisacomponentofhighpoweredmoney?
a.bondsheldbybanks,loans,andbankreserves.
b.currencyincirculationplusbankreserves.
c.currencyincirculationpluscheckabledeposits.
d.bondsheldbybankspluscheckabledeposits.
e.thesumofcurrencyincirculation,bankreserves,andcheckabledeposits.
M23.Forthisquestion,assumethatindividualsdoNOTholdcurrency(i.e.,c=0).Iftheratioofreservestodepositsis.10,themoneymultiplieris:
a..1
b..9
c.4
d.5
e.10
D24.Whichofthefollowingwillcausethemoneymultipliertobecomesmaller?
a.anincreaseinhighpoweredmoney.
b.adecreaseintheratioofreservestocheckabledeposits.
c.anincreaseinthepublic'
spreferenceforcheckingdepositsasopposedtoholdingcurrency.
d.areductioninhighpoweredmoney.
D25.Themoneysupplywilltendtofallwhenwhichofthefollowingoccurs?
a.acentralbanksaleofbonds.
b.adecreaseintheratioofreservestodeposits.
c.ashiftinpublicpreferencesawayfromcurrencytocheckabledeposits.
M26.Whichofthefollowingeventswillcausetheinterestratetoincrease?
a.anopenmarketsaleofbonds
b.anincreaseinthereservedepositratio(i.e.,θ)
c.anincreaseinincome
d.alloftheabove
E27.Thefederalfundsrateisdeterminedinwhichofthefollowingmarkets?
a.themarketforU.S.treasurysecurities
b.themoneymarket
c.thebondmarket
d.themarketforcentralbankmoney
e.noneoftheabove
M28.Forthisquestion,assumethatindividualsdoNOTholdcurrency(i.e.,c=0).Themoneymultiplierisequalto:
a.1
b.1/(1-c)
c.θ
d.1/(1-θ)
M29.Forthisquestion,assumethatindividualsdoNOTholdcurrency(i.e.,c=0)..Themoneymultiplierisequalto:
a.1/(1-c)
b.1/[c+θ(1-c)]
c.[c+θ(1-c)]
d.1/θ
D30.Forthisquestion,assumethatindividualsholdbothcurrencyandcheckabledeposits.Themoneymultiplierisequalto:
a.1/c
e.1/(1-c)
M31.Wewouldexpectwhichofthefollowingtooccurwhenthecentralbankpursuesexpansionarymonetarypolicy?
a.anincreaseinbondpricesandanincreaseintheinterestrate(i)
b.areductioninbondpricesandanincreaseini
c.anincreaseinbondpricesandareductionini
d.areductioninbondpricesandareductionini
M32.Wewouldexpectwhichofthefollowingtooccurwhenthecentralbankpursuescontractionarymonetarypolicy?
M33.Basedonourunderstandingofthedeterminantsoftheinterestrateandbondprices,weknowthatareductioninincomewillcause:
M34.Wewouldexpectwhichofthefollowingtooccurwhenthecentralbankconductsanopenmarketsaleofbonds?
a.areductioninthemonetarybase(H)
b.areductioninthemoneymultiplier
c.anincreaseinH
d.anincreaseinthemoneymultiplier
e.both(c)and(d)
M35.Wewouldexpectwhichofthefollowingtooccurwhenthecentralbankconductsanopenmarketpurchaseofbonds?
c.anincreaseinthemoneymultiplier
d.anincreaseinthemoneysupply
E36.TheU.S.governmentcurrentlyinsureseachbankaccountuptowhatlevel?
a.$10,000
b.$50,000
c.$100,000
d.$150,000
M37.Anincreaseinthereserveratio,θ,willcause:
a.anincreaseinthemonetarybase(H)
b.areductioninH
d.areductioninthemoneymultiplier
M38.Areductioninthereserveratio,θ,willcause:
b.areductioninHandareductioninthemoneymultiplier
M39.Anincreaseintheparameterc,theproportionofmoneyindividualswishtoholdascurrency,willtendtocausewhichofthefollowing?
M40.Areductionintheparameterc,t
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