所屬科目：【阿摩】未分類題庫
1. In the Solow model, the steadystate capitallabor ratio will decline if (A) productivity increases. (B) the saving rate per worker increases. (C) the consumption rate per worker declines. (D) population growth increases.
2. Suppose you read in the paper that the Federal Reserve plans to expand the money supply. The Fed is most likely to do this by? (A) selling government bonds to the public. (B) buying new government bonds directly from the government itself. (C) printing more currency and distributing it. (D) purchasing government bonds from the public.
3. Suppose the economy's production function is $Y = (300L L^2)$, where $L$ represents the amount of labor employed. Suppose that the supply of labor is $L_s = 0.5w + 130$. What is the equilibrium output level? (A) 21600 (B) 22100 (C) 22400 (D) 22500
4. A financial account surplus necessarily implies (A) a balance of payments surplus. (B) a current account deficit. (C) an increase in the nation's official reserve assets. (D) a current account surplus.
5. Assume that a competitive firm's shortrun total cost curve is $TC = Q^3 6Q^2 + 15Q + 20$. What is this firm's shortrun shutdown price? (A) 3 (B) 6 (C) 9 (D) 15
6. On a given evening, Jack enjoys the consumption of cigars (c) and brandy (b) according to the function $$U(c, b) = 20c c^2 + 18b 3b^2.$$ Jack has been advised by his doctors that he should limit the sum of glasses of brandy and cigars consumed to 5. Assume that cost is no object to him. In order to maximize his utility, how many glasses of brandy will Jack consume under these circumstances? (A) 1 (B) 2 (C) 3 (D) 4
7. Considering shortrun cost curves, which of the following statements is TRUE? (A) The marginal cost curve is always increasing. (B) The average cost curve rises where it lies below the marginal cost curve. (C) The average cost curve cuts the marginal cost curve at its minimum. (D) The average fixed cost curve is Ushaped.
1. Equivalent Variation
2. Purchasing Power Parity
3. Monetary Neutrality
a. What is the unregulated competitive equilibrium quantity and price?
b. What is the social optimal quantity and price?
c. What specific tax rate \( t \) (per unit) would result in the social optimum?
2. (10%)Consider the Solow growth model without technological change. The production function is $Y = K^{1/3}L^{2/3}$, where K and L represent the total capital and workers used, respectively. The parameters of the model are given by s = 0.36 (savings rate) and d = 0.04 (depreciation rate). Let k denote capital per worker; y output per worker; c consumption per worker; i investment per worker. Find the steadystate level of the capitallabor ratio, $k^*$, if the population grows at fixed rate n = 5%.
3. (10%)Use the classical ADAS model to analyze the following statement, and show what would happen in the long run if such advice were followed by the Central Bank: The increase in the stock market has increased people's wealth. As a result, their consumption has increased, increasing aggregate demand and output. Hence the Central Bank needs to increase the money supply, since with higher income, people's demand for real money balances will be higher.
a. Let \( P_{x} \) and \( P_{y} \) be the price of \( x \) and \( y \). Calculate the expenditure function for \( x \) and \( y \).
b. Compute the compensated demand functions for goods \( x \) and \( y \).
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