海南大学2006-07学年度第2学期试卷 科目：《宏观经济学》试题(A卷) 姓名： 学号： 学院： 专业班级： Please answer the Questions(每题10分，共同100分) 1.What do you think are the defining characteristics of a science?Does the study of the economy have these characteristics?Do you think macroeconomics should be called a science?Why or why not? 2.Consider how each of the following events is likely to affect real GDP.Do you think the change in real GDP reflects a similar change in economic well-being? a.A hurricane in Florida forces Disney World to shut down for a month. b.The discovery of a new.easy-to-grow strain of wheat increases farm harvests. c.In ment sparks a rash of strikes d.Firms throughout the economy experience falling demand,causing them to lay off workers. e.Congress passes new environmental laws that prohibit firms from using production methods that emit large quantities of pollution. I.More high-school students drop ut of school to take jobs mowing lawns. Fathers around the their workweeks to spend more time with their children
海南大学 2006-07 学年度第 2 学期试卷 科目：《宏观经济学》试题(A 卷) 姓名： 学 号： 学院： 专业班级： Please answer the Questions（每题 10 分，共同 100 分） 1.What do you think are the defining characteristics of a science? Does the study of the economy have these characteristics? Do you think macroeconomics should be called a science? Why or why not? 2. Consider how each of the following events is likely to affect real GDP.Do you think the change in real GDP reflects a similar change in economic well-being? a.A hurricane in Florida forces Disney World to shut down for a month. b.The discovery of a new,easy-to-grow strain of wheat increases farm harvests. c.Increased hostility between unions and management sparks a rash of strikes. d. Firms throughout the economy experience falling demand,causing them to lay off workers. e. Congress passes new environmental laws that prohibit firms from using production methods that emit large quantities of pollution. f. More high-school students drop out of school to take jobs mowing lawns. g. Fathers around the country reduce their workweeks to spend more time with their children
3.If a 10-percent increase in both capital and labor causes ou utput to increase by less than 10 percent,the production function is said to exhibit decreasing returns to scale.If it causes output to increase by more than 10 percent,the production function is said to exhibit increasing returns to scale.Why might a production function exhibit decreasing or increasing returns to scale? 4.Who controls the money supply and how? 5.List all the costs of inflation you can think of,and rank them according to how important you think they are 6Explain different between portfolio and transctions theories of money demand
3. If a 10-percent increase in both capital and labor causes output to increase by less than 10 percent, the production function is said to exhibit decreasing returns to scale. If it causes output to increase by more than 10 percent,the production function is said to exhibit increasing returns to scale. Why might a production function exhibit decreasing or increasing returns to scale? 4.Who controls the money supply and how? 5.List all the costs of inflation you can think of, and rank them according to how important you think they are. 6 Explain different between portfolio and transctions theories of money demand
7 in what way does the existence of near money complicate the conduct of monetary policy? 8.Describe four problems affecting measurement of the government budget deficit. 9.One study found that the elderly who do not have children dissave at about the e elderly who do have children.What might s about the reason the elderly do not dissave as much as the life-cycle predicts?
7 in what way does the existence of near money complicate the conduct of monetary policy? 8.Describe four problems affecting measurement of the government budget deficit. 9.One study found that the elderly who do not have children dissave at about the same rate as the elderly who do have children.What might this finding imply about the reason the elderly do not dissave as much as the life-cycle model predicts?
10 What are the three ways in which the federal Reserve can influence the money supply
10 What are the three ways in which the federal Reserve can influence the money supply