中级宏观经济学模拟试题

1 (10 points) The following is information from the national income accounts for an economy.

Gross domestic product Gross investment Net investment Consumption Government purchase of goods and services Government budget surplus 6000 800 200 4000 1100 30 What’s NDP; net export; government taxes minus transfers; disposable income; personal saving rate?

2 (16 points) Please graphically show the LMcurve is upward sloping when the monetary authority fixes the money stock, and that the LMcurve is horizontal when the monetary authority fixes the interest rate.

3 (20 points) The following equations describe an economy (Think of C,I,G,etc, as being measured in Billions and ias a percentage.)

C1000.8(YT)I90050i G100,T100MD0.2Y50iPMS5001) What is the equation that describes the AD curve?

2) Suppose, the government spending and income taxes increase to 200. By how much do this changes in fiscal policy affect the AD?

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4 (20 points) Suppose an economy, which is at its natural level, experiences technological improvements.

1) Show, in an aggregate supply and demand framework, the long-run and short-run effects of the technological changes.

2) What is the required policy? Use the ASADdiagram to show your proposal.

5 (24 points) Suppose an economy, which is at its natural level, suddenly suffers SARS, which can be considered as an adverse demand shock. 1) How does the economy response to the shock?

2) What is the required policy? Use the ASADdiagram to show your proposal. 3) Please comment your answers to parts <5.2> and <4.2>.

4) Specify the difficulties the policymakers might encounter when they conduct the policy you proposed.

6(10 points) Some people believe that the dynamic inconsistency problem derives from the difference between the short-run and long-run Phillips curves. Please comment.

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