货币银行练习题chap11 The Demand for Money.docx
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货币银行练习题chap11TheDemandforMoney
1Chapter22
TheDemandforMoney
n MultipleChoice
1)Thequantitytheoryofmoneyisatheoryof
howthemoneysupplyisdetermined.
howinterestratesaredetermined.
howthenominalvalueofaggregateincomeisdetermined.
alloftheabove.
C
QuestionStatus:
PreviousEdition
2)Becausethequantitytheoryofmoneytellsushowmuchmoneyisheldforagivenamountofaggregateincome,itisalsoatheoryof
interest-ratedetermination.
thedemandformoney.
exchange-ratedetermination.
noneoftheabove.
B
QuestionStatus:
PreviousEdition
3)Theaveragenumberoftimesthatadollarisspentinbuyingthetotalamountoffinalgoodsandservicesproducedduringagiventimeperiodisknownas
grossnationalproduct.
thespendingmultiplier.
themoneymultiplier.
velocity.
D
QuestionStatus:
PreviousEdition
4)Thevelocityofmoneyis
theaveragenumberoftimesthatadollarisspentinbuyingthetotalamountoffinalgoodsandservices.
theratioofthemoneystocktohigh-poweredmoney.
theratioofthemoneystocktointerestrates.
noneoftheabove.
A
QuestionStatus:
PreviousEdition
5)Ifthemoneysupplyis500andnominalincomeis3,000,thevelocityofmoneyis
60.
6.
1/6.
undefined.
B
QuestionStatus:
PreviousEdition
6)Ifthemoneysupplyis600andnominalincomeis3,000,thevelocityofmoneyis
5.
50.
1/5.
undefined.
A
QuestionStatus:
PreviousEdition
7)Ifthemoneysupplyis500andnominalincomeis4,000,thevelocityofmoneyis
20.
8.
1/8.
1/20.
B
QuestionStatus:
PreviousEdition
8)Ifthemoneysupplyis600andnominalincomeis3,600,thevelocityofmoneyis
1/60.
1/6.
6.
60.
C
QuestionStatus:
PreviousEdition
9)IfnominalGDPis$10trillion,andthemoneysupplyis$2trillion,velocityis
20.
10.
5.
.2.
noneoftheabove.
C
QuestionStatus:
New
10)IfnominalGDPis$8trillion,andthemoneysupplyis$2trillion,velocityis
16.
8.
4.
.25.
noneoftheabove.
C
QuestionStatus:
New
11)IfnominalGDPis$10trillion,andvelocityis10,themoneysupplyis
$100trillion.
$10trillion.
$5trillion.
$1trillion.
noneoftheabove.
D
QuestionStatus:
New
12)Ifthemoneysupplyis$2trillionandvelocityis5,thennominalGDPis
$2trillion.
$5trillion.
$10trillion.
$1trillion.
$25trillion.
C
QuestionStatus:
New
13)Ifthemoneysupplyis$20trillionandvelocityis2,thennominalGDPis
$2trillion.
$10trillion.
$20trillion.
$40trillion.
$100trillion.
D
QuestionStatus:
New
14)Velocityisdefinedas
P+M+Y.
(P´M)/Y.
(Y´M)/P.
(P´Y)/M.
(Y–P)/M.
D
QuestionStatus:
New
15)Thevelocityofmoneyisdefinedas
realGDPdividedbythemoneysupply.
nominalGDPdividedbythemoneysupply.
realGDPtimesthemoneysupply.
nominalGDPtimesthemoneysupply.
aproportionalratioofthemoneysupplyandthepricelevel.
B
QuestionStatus:
New
16)Theequationofexchangestatesthatthequantityofmoneymultipliedbythenumberoftimesthismoneyisspentinagivenyearmustequal
nominalincome.
realincome.
realgrossnationalproduct.
velocity.
A
QuestionStatus:
PreviousEdition
17)Intheequationofexchange,theconceptthatprovidesthelinkbetweenMandPYiscalled
thevelocityofmoney.
aggregatedemand.
aggregatesupply.
themoneymultiplier.
A
QuestionStatus:
PreviousEdition
18)Theequationofexchangeis
M´P=V´Y.
M+V=P+Y.
M+Y=V+P.
M/V=Y/P.
M´V=P´Y.
E
QuestionStatus:
New
19)Accordingtotheclassicaleconomists,velocitycouldberegardedaconstantintheshortrunsince
institutionalfactors,suchasthespeedwithwhichchecksareclearedbythebankingsystem,changeslowlyovertime.
theopportunitycostofholdingmoneywasclosetozero.
financialinnovationtendedtooffsetchangesininterestrates.
alloftheabovearetrue.
noneoftheabovearetrue.
A
QuestionStatus:
StudyGuide
20)IrvingFishertooktheviewthattheinstitutionalfeaturesoftheeconomywhichaffectvelocitychange_____overtimesothatvelocitywillbefairly_____intheshortrun.
rapidly;erratic
rapidly;stable
slowly;stable
slowly;erratic
C
QuestionStatus:
PreviousEdition
21)InIrvingFisher’squantitytheoryofmoney,velocitywasdeterminedby
interestrates.
realGDP.
theinstitutionsinaneconomythataffectindividuals’transactions.
thepricelevel.
governmentregulationsoninstitutions.
C
QuestionStatus:
New
22)InIrvingFisher’squantitytheoryofmoney,velocitychangesslowlyovertimebecause
institutionalandtechnologicalfeaturesofaneconomythateffectvelocitychangeslowly.
interestrateschangeveryslowlyovertime.
theeconomygrowsslowlyovertime.
inflationdoesnotaffectvelocity.
governmentregulationsrequirethatvelocitybestable.
A
QuestionStatus:
PreviousEdition
23)Theclassicaleconomists’conclusionthatnominalincomeisdeterminedbymovementsinthemoneysupplyrestedontheirbeliefthat_____couldbetreatedas_____intheshortrun.
velocity;constant
velocity;variable
money;constant
money;variable
A
QuestionStatus:
PreviousEdition
24)Theviewthatvelocityisconstantintheshortruntransformstheequationofexchangeintothequantitytheoryofmoney.Accordingtothequantitytheoryofmoney,whenthemoneysupplydoubles
velocityfallsby50percent.
velocitydoubles.
nominalincomesfallsby50percent.
nominalincomedoubles.
D
QuestionStatus:
PreviousEdition
25)Cuttingthemoneysupplybyone-thirdispredictedbythequantitytheoryofmoneytocause
asharpdeclineinrealoutputofone-thirdintheshortrun,andafallinthepricelevelbyone-thirdinthelongrun.
adeclineinrealoutputbyone-third.
adeclineinoutputbyone-sixth,andadeclineinthepricelevelofone-sixth.
adeclineinthepricelevelbyone-third.
noneoftheabovearetrue.
D
QuestionStatus:
StudyGuide
26)Theclassicaleconomistsbelievedthatifthequantityofmoneydoubled,
outputwoulddouble.
priceswouldfall.
priceswoulddouble.
priceswouldremainconstant.
C
QuestionStatus:
PreviousEdition
27)Theclassicaleconomists’contentionthatpricesdoublewhenthemoneysupplydoublesispredicatedonthebeliefthatintheshortrunvelocityis_____andrealGDPis_____.
constant;constant
constant;variable
variable;variable
variable;constant
A
QuestionStatus:
PreviousEdition
28)Fortheclassicaleconomists,thequantitytheoryofmoneyprovidedanexplanationofmovementsinthepricelevel.Movementsinthepricelevelresult
solelyfromchangesinthequantityofmoney.
primarilyfromchangesinthequantityofmoney.
onlypartiallyfromchangesinthequantityofmoney.
fromchangesinfactorsotherthanthequantityofmoney.
A
QuestionStatus:
PreviousEdition
29)Ifinitiallythemoneysupplyis$1trillion,velocityis5,thepricelevelis1,andrealGDPis$5trillion,anincreaseinthemoneysupplyto$2trillion
increasesrealGDPto$10trillion.
causesvelocitytofallto2.5.
increasesthepricelevelto2.
increasesthepricelevelto2andvelocityto10.
hasnoeffectonanyoftheothervariables.
C
QuestionStatus:
New
30)Ifinitiallythemoneysupplyis$2trillion,velocityis5,thepricelevelis2,andrealGDPis$5trillion,afallinthemoneysupplyto$1trillion
reducesrealGDPto$2.5trillion.
causesvelocitytoriseto10.
decreasesthepricelevelto1.
decreasesthepricelevelto1anddecreasesvelocityto2.5.
hasnoeffectonanyoftheothervariables.
C
QuestionStatus:
New
31)Accordingtothequantitytheoryofmoneydemand,
anincreaseininterestrateswillcausethedemandformoneytofall.
adecreaseininterestrateswillcausethedemandformoneytoincrease.
interestrateshavenoeffectonthedemandformoney.
both(a)and(b)oftheabovearecorrect.
C
QuestionStatus:
PreviousEdition
32)Accordingtothequantitytheoryofmoneydemand,
anincreaseininterestrateswillcausethedemandformoneytofall.
adecreaseininterestrateswillcausethedemandformoneytoincrease.
interestrateshavenoeffectonthedemandformoney.
anincreaseinmoneywillcausethedemandformoneytofall.
C
QuestionStatus:
PreviousEdition
33)Fisher’squantitytheoryofmoneysuggeststhatthedemandformoney
ispurelyafunctionofincome,andinterestrateshavenoeffectonthedemandformoney.
ispurelyafunctionofinterestrates,andincomehasnoeffectonthedemandformoney.
ispurelyafunctionofgovernmentspending,andinterestrateshavenoeffectonthedemandformoney.
ispurelyafunctionofexpectations,andincomehasnoeffectonthedemandformoney.
A
QuestionStatus:
PreviousEdition
34)Fisher’squantitytheoryofmoneysuggeststhatthedemandformoneyispurelyafunctionof_____,and_____havenoeffectonthedemandformoney.
expectations;prices
expectations;interestrates
income;prices
income;interestrates
D
QuestionStatus:
Revised
35)_____quantitytheoryofmoneysuggeststhatthedemandformoneyispurelyafunctionofincome,andinterestrateshavenoeffectonthedemandformoney.
Keynes’s
Fisher’s
Friedman’s
Tobin’s
B
QuestionStatus:
PreviousEdition
36)IrvingFisher’sviewthatvelocityisfairlyconstantintheshortruntransformstheequationofexchangeintothe
Friedman’stheoryofincomedetermination.
quantitytheoryofmoney.
Keynesiantheoryofincomedetermination.
monetarytheoryofincomedetermination.
B
QuestionStatus:
Revised
37)Theempiricalevidenceregardingthevelocityofmoneyindicatesthat
velocitytendstobeprocyclical;thatis,velocitydeclines(increases)wheneconomicactivitycontracts(expands).
velocitytendstobecountercyclical;th
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