宏观经济学

chapter 8

Description

本次测验由20个选择题构成。

This assessment is w orth 50 points.

Note:Correct answers appear in Blue. Incorrect answers and skipped questions appear in Red after 'Your response'.

Vickie earns $1,000 per week and spends $850 per week on living expenses, puts $50 in a savings account, and buys $100 worth of shares in a stock mutual fund. Vickie's saving is ____ and her saving rate is _____.

(2.50 points)

Your response:

e.

$150; 15%

(You answered correctly!)

Feedback :

Learning Objective: Saving and wealth

Level of Learning: Application

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

$50; 5%

$50; 5.9%

$100; 10%

$100; 11.8%

1

$150; 15%

1

A measure defined per unit of time is called a ____ variable.

(2.50 points)

Your response:

d.

flow

(You answered correctly!)

Feedback :

Learning Objective: Flows

Level of Learning: Knowledge

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

real

nominal

aggregate

1

flow

stock

2

If Alexandra uses $800 from her checking account to pay her credit card balance, her wealth:

(2.50 points)

Your response:

e.

does not change.

(You answered correctly!)

Feedback :

Learning Objective: Saving and wealth

Level of Learning: Application

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

increases by $800.

decreases by $800.

increases by $1,600.

decreases by $1,600.

1

does not change.

3

The following data are available for Macroland:

Private saving in Macroland is _____ and public saving is ______.

(2.50 points)

Your response:

e.

2,500; -1,000

(You answered correctly!)

Feedback :

Learning Objective: Private and public saving

Level of Learning: Application

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

500; -1,000

1,000; 0

1,000; -500

2,500; 0

1

2,500; -1,000

4

If George saves $500 per mont, then his ____ will increase by _____.

(2.50 points)

Your response:

c.

wealth; $500

(You answered correctly!)

Feedback :

Learning Objective: Saving and wealth

Level of Learning: Comprehension

Source: New

Type: Word Problem

2.50 points aw arded.

The correct answer is:

income; $500

income; $500 only if he buys additional assets 1

wealth; $500

wealth; $500 only if he buys additional assets wealth; $500 only if he has no debt

5

Rich B. has the following assets and liabilities:

What is Rich B.'s wealth?

(2.50 points)

Your response:

c.

$111,000

(You answered correctly!)

Feedback :

Learning Objective: Wealth

Level of Learning: Application

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

$105,000

$107,000

1

$111,000

$419,000

$727,000

6

Firms will invest in new equipment whenever:

(2.50 points)

Your response:

b.

the expected cost of the equipment is less than the expected benefit.

(You answered correctly!)

Feedback :

Learning Objective: Investment

Level of Learning: Knowledge

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

the expected cost of the equipment exceeds the expected benefit.

1

the expected cost of the equipment is less than the expected benefit.

the expected cost of the equipment is greater than the value of the marginal product of the equipment.

public saving is greater than private saving.

public saving is less than private saving.

7

An increase in the government's budget deficit ____ the real interest rate and ____ the equilibrium quantity of national saving.

(2.50 points)

Your response:

b.

increases; decreases

(You answered correctly!)

Feedback :

Learning Objective: Saving and Investment

Level of Learning: Comprehension

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

increases; increases

1

increases; decreases

increases; does not change

decreases; increases

decreases; decreases

8

Holding other factors constant, a higher relative price of a firm's output will:

(2.50 points)

Your response:

c.

increase investment.

(You answered correctly!)

Feedback :

Learning Objective: Investment

Level of Learning: Comprehension

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

increase national saving.

decrease national saving.

1

increase investment.

decrease investment.

increase private saving.

9

The combination of a ____ saving rate and a ____ real interest rate will result in the largest accumulation of wealth over time.

(2.50 points)

Your response:

a.

high; high

(You answered correctly!)

Feedback :

Learning Objective: Saving and the real interest rate

Level of Learning: Knowledge

Source: Unique

Type: Word Problem

2.50 points aw arded.

1The correct answer is:

high; high

high; low

high; zero

low; high

low; low

10

On January 1, 2002, Jay purchased shares of stock for $10,000. On December 31, 2002, the same shares are now worth $7,500. Based on this information:

(2.50 points)

Your response:

d.

Jay has a $2,500 capital loss for the year.

(You answered correctly!)

Feedback :

Learning Objective: Capital loss

Level of Learning: Application

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

Jay's saving for the year increased by $2,500.

Jay's saving for the year decreased by $2,500.

Jay has a $2,500 capital gain for the year.

1

Jay has a $2,500 capital loss for the year.

Jay's wealth is unchanged for the year.

11

Net taxes equal total taxes:

(2.50 points)

Your response:

e.

minus transfer payments minus government interest payments.

(You answered correctly!)

Feedback :

Learning Objective: Net taxes

Level of Learning: Knowledge

Source: New

Type: Word Problem

2.50 points aw arded.

The correct answer is:

minus public saving minus private saving.

plus public saving minus private saving.

minus transfer payments plus government interest payments.

plus transfer payments minus government interest payments.

1

minus transfer payments minus government interest payments.

12

If Alexandra deposits $1,000 from her paycheck into her checking account and at the same time increases her credit card balance by $1,500, then her wealth:

(2.50 points)

Your response:

d.

decreases by $500.

(You answered correctly!)

Feedback :

Learning Objective: Saving and wealth

Level of Learning: Application

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

increases by $500.

increases by $1,000.

increases by $2,500.

1

decreases by $500.

decreases by $1,500.

13

Samantha has $5,000 in a CD account paying 10% interest. It will mature in a few weeks and, the bank told her that interest rates on CDs were

decreasing. She is thinking of spending it on a new computer and software that she will use to start a bookkeeping service. If she were to do so, she would have to quit her job where she makes $15,000 per year in after-tax income. She has estimated that the bookkeeping service will earn a net income of $15, 250 after taxes, and maintenance and operating costs.

(2.50 points)

Your response:

d.

If the interest rate on the new CD is 2% or less she should leave the money in the CD.

Feedback :

Learning Objective: Investment

Level of Learning: Application

Source: Study Guide

Type: Word Problem

0 points aw arded.

The correct answer is:

Since the interest rate is declining, Samantha would be better off using the money to buy the computer.

If the interest rate on the new CD is 7% or greater she should leave the money in the CD.

If the interest rate on the new CD is 2.5% or greater she should buy the computer.

If the interest rate on the new CD is 2% or less she should leave the money in the CD.

1

If the interest rate on the new CD is 5% or greater she should leave the money in the CD.

14

Where Y is GDP, C is consumption, I is investment, T is net taxes, and G is government spending, if there is no trade, then private saving equals:

(2.50 points)

Your response:

b.

Y - T - C

(You answered correctly!)

Feedback :

Learning Objective: Private saving

Level of Learning: Knowledge

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

C + I + G -T

1

Y - T - C

Y -T - G

Y - C - I

Y - C - G

15

In the 1990s in the United States, the largest positive contribution to national saving was from:

(2.50 points)

Your response:

c.

the government budget surplus.

Feedback :

Learning Objective: Private and public saving

Level of Learning: Knowledge

Source: Unique

Type: Word Problem

0 points aw arded.

The correct answer is:

the public sector.

the government budget deficit.

the government budget surplus.

household saving

1

business saving.

16

A flow is a measure defined:

(2.50 points)

Your response:

a.

per unit of time.

(You answered correctly!)

Feedback :

Learning Objective: Flows

Level of Learning: Knowledge

Source: Unique

Type: Word Problem

2.50 points aw arded.

1The correct answer is:

per unit of time.

at a point in time.

in real terms.

in nominal terms.

in the currency adjusted for the rate of inflation.

17

Holding other factors constant, if the income tax is replaced with a consumption so that saving is not taxed, then the real interest rate will ________ and the equilibrium quantity of saving and investment will _______.

(2.50 points)

Your response:

d.

decrease; increase

(You answered correctly!)

Feedback :

Learning Objective: Saving and Investment

Level of Learning: Comprehension

Source: New

Type: Word Problem

2.50 points aw arded.

The correct answer is:

increase; increase

increase; not change

increase; decrease

1

decrease; increase

decrease; decrease

18

To the extent that households are target savers, who save to reach a specific goal, a decrease in the interest rate _____ household saving.

(2.50 points)

Your response:

b.

decreases

Feedback :

Learning Objective: Saving and the real interest rate

Level of Learning: Knowledge

Source: Unique

Type: Word Problem

0 points aw arded.

1The correct answer is:

increases

decreases

does not affect

cuts in half

may either increase or decrease

19

An explanation for the low saving rate in the United States consistent with the demonstration effect includes:

(2.50 points)

Your response:

b.

households spending beyond their means to keep up with community standards

(You answered correctly!)

Feedback :

Learning Objective: Demonstration effect

Level of Learning: Knowledge

Source: Unique

Type: Word Problem

2.50 points aw arded.

The correct answer is:

relatively generous government assistance for the elderly and large down payments required for home purchases.

1

households spending beyond their means to keep up with community standards

well developed financial markets making it easy to borrow against home equity.

confidence in future economic prosperity.

large and persistent capital gains.

20

42.50 points out of 50 awarded. (85%)

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