对外经济贸易大学815真题
对外经济贸易大学
2011年硕士学位研究生入学考试初试试题
考试科目:815经济学综合
一、单项选择(每小题1分,共10分)
1. 以下各组商品中,( )组商品的需求交叉弹性最可能为正值。
A. 网球拍和网球 B. 牛肉和牛皮
C. 牛肉和鸡肉 D. 冰激凌和钢笔
2. 一条无差异曲线的斜率揭示了( )。
A. 偏好是完全的 B. 一个商品对于另一个商品的边际替代率
C. 市场价格的比率 D. 偏好是可传递的
3. 如果随着产量的增加,平均变动成本不断下降,则表明在这一阶段的生产过程中,变动要素的( )。
A. 边际产量不断增加 B. 平均产量不断增加
C. 边际产量不断减少 D. 平均产量不断减少
4. 一个垄断厂商将其边际成本为15元的产品以20元的价格出售,则该产品在此价格水平上的需求价格弹性等于( )。
A. 2 B. 3
C. 4 D. 5
5. 当由于信息不对称出现高质量产品被驱逐出市场时,这种情况被称为( )。
A. 逆向选择 B. 道德风险
C. 柠檬问题 D. A和C都是正确的
6. 根据国民收入核算恒等式,如果政府预算为赤字,国际贸易为盈余,则( )。
A. 国内私人投资大于私人储蓄 B. 国内私人投资小于私人储蓄
C. 两者相等 D. 无法判断两者大小
7. 假如IS曲线和 LM曲线的交点所对应的均衡国民收入低于充分就业水平,那么如果要达到充分就业水平面保持利率不变,政府应该( )。
A. 增加政府支出 B. 同时增加政府支出和货币供给量
C. 增加货币供给量 D. 同时增加税收和货币供给量
8. 如果存款准备金率越高,则( )。
A. 货币供给越大 B. 物价水平越高
C. 银行贷款意愿越大 D. 货币乘数越小
9. 根据新古典经济增长模型,如果人均资本高于黄金分割律水平,则可以( )。
A. 降低储蓄率,从而增加消费 B. 增加储蓄率,从而增加消费
C. 降低储蓄率,从而较少消费 D. 增加储蓄率,从而减少消费
10. 若一国经济中菲利普斯曲线方程为:πt =5%-0.3(ut-6%)。据此我们可以知道该经济的预期通货膨胀率为( )。
A. 0% B. 0.3%
C. 5% D. 6%
二、 判断下列表述的经济含义是否正确(每小题1分,共10分)
1. 消费者沿着需求曲线向下方移动时他的效用水平在提高。
2. 当成本-产出弹性大于1时,生产中存在规模经济。
3. 单个消费者的劳动供给曲线可能向后弯曲,因此劳动的市场供给曲线也一定如此。
4. 在一个完全竞争的行业内,需求的持续增加会导致现有企业经济利润的增加和其他企
业的进入。
5. 虽然垄断厂商具有价格决定权,但它也只能通过提价将政府对其所征收的间接税部分
地转嫁给消费者。
6. 托宾的q值增加时,企业融资困难投资减少。
7. 由于政府向失业者提供的救济金和保险公司收取的保险金都没有相应的物品和劳务的
交换发生,因此都不计入到一国的GDP中。
8. 基尼系数越趋近于0,社会收入分配的程度越平等。
9. 开放经济中自发性支出变动的乘数效应大于封闭经济中的乘数效应。
10. 理性预期学派认为,无论在短期还是长期中,菲利普斯曲线所表示的失业率与通货膨
胀的交替关系都不存在。
三、 名词解释(每小题4分,共16分)
1. 无谓损失(Deadweight Loss)
2. 节俭悖论
3. 外部经济
4. 菜单成本
四、 计算分析题(每题10分,共20分)
1. 已知某完全竞争市场的需求函数为Q=60000-3200P,短期市场供给函数为Q=15000+1300P;单个企业在LAC曲线的最低点的价格为10,产量为20;单个企业的成本规模不变。
(1)求市场的短期均衡价格和均衡产量;(2分)
(2)判断(1)问中的市场是否同时处于长期平衡,求行业内的厂商数量;(2分)
(3)如果市场的需求函数变为Q’=72000-3200P,短期供给函数变为Q’=27000+1300P,求市场的短期均衡价格和均衡产量;(2分)
(4)判断(3)问中的市场是否处于长期平衡,并求行业内的厂商的数量;(2分)
(5)判断该行业属于什么类型?(1分)
(6)需要新加入多少企业,才能提供由(1)到(3)所增加的行业总产量。(1分)
2. 假设一经济体系的消费函数为C=600+0.8Yd,投资函数为I=400-50r,政府购买为G=200,货币需求函数为L=250+0.5Y-125r,货币供给MS=1250,价格水平P=1,假定政府只收取定额税,并且保持预算平衡,求:
(1)IS和LM方程;(4分)
(2)均衡收入和利率;(4分)
(3)设充分就业时收入水平为Y*=5000,若用增加政府购买实现充分就业,需要增加多少购买?(2分)
五、 证明与简答题(每题8分,共16分)
1. 作图分析并说明政府对汽油征税并以所得税减免的方式返还全部税额时,消费者的满足程度将会下降。
2. 请简述中央银行购买财政部门发行的国债对该国货币供应量的影响。
六、 论述题(每题14分,共28分)
1. “财政部发通知,家电下乡补贴可以通过五种方式,即农民申领、乡镇财政所审核并兑付方式,农民申领、金融机构审核并兑付方式,销售网点代办申领、乡镇财政所审核确认并兑付方式,销售网点代办申领、金融机构审核确认并兑付方式,销售网点代办申领并垫付方式。”请根据以上材料,利用经济学原理分析其经济影响。
2. 2010年10月份我国CPI同比增长4.4%,11月份同比增长达到5.1%,创28个月以来的新高。山东、江苏、浙江等省市民政部门相继宣布发放临时物价补贴,以缓解近期粮食等主要食品价格上涨对低收入群体带来的生活压力,同时,中国人民银行也在两个月内连续采取了提高存贷款利率和三次提高法定准备金率的政策。根据宏观经济理论分析:
(1)通货膨胀对我国经济会产生什么影响?(5分)
(2)政府采取的经济政策会对我国的消费、投资、国民收入等经济变量产生怎样的影响?(9分)
七、 专业英语(英译中,共50分)
1. Price controls (20分)
Governments have been trying to set maximum or minimum pieces since ancient times. The appeal of price controls is understandable. Even though they fail to protect many consumers and hurt others, controls hold out the promise of protecting groups that are particularly hard-pressed to meet price increase. Thus, the prohibition against usury——charging high interest on loans——was intended to protect someone forced to borrow out of desperation; the maximum price for bread was supposed to protect the poor, who depended on bread to survive; and tent controls were supposed to protect those who were renting when the demand for apartments exceeded the supply, and landlords were preparing to “gouge” their tenants.
Despite the frequent use of price controls, however, and despite their appeal, economists are generally opposed to them, except perhaps for very brief periods during emergencies. The reason most economists are skeptical about price controls is that they distort the allocation of resources. Price ceilings, which prevent prices from exceeding a certain maximum, cause shortages. Price floors, which prohibit prices below a certain minimum, cause surpluses, at least for a time. Because controls prevent the price system from rationing the available supply, some other mechanism must take its place. A queue, once a familiar sight in the controlled economies of Eastern Europe, is one possibility.
With all of the problems generated by controls, we can well ask why they are ever imposed and why they are sometimes maintained for so long. The answer, in part, is that the public does not always see the links between controls and the problems they create. General price controls——controls on prices of many goods——are often imposed when the public becomes alarmed that inflation is out of control. However, most inflation, ever in wartime, is due to inflationary monetary and fiscal policies rather than to panic buying. Inflation is extremely difficult to contain through general controls, in part because the attempt to limit control to a manageable sector of the economy is usually hopeless. By examining cases in which controls have prevented the price mechanism from working, we gain a better appreciation of its usual elegance and efficiency. This does not mean that there are no circumstances in which temporary controls may be effective. But a fair reading of economic history shows just how rare those circumstanced are.
2. The future of Chinese M&A (20分)
Where will M&A be targeted? The data available to date on larger deals mask some trends identified by those on the front-lines of the deal-making. “Diversification is a natural process, evolution.” Says the head of China M&A at a Western investment bank. “The government may have given rigid marching orders in the past, but it’s now more market-oriented. There has been a concentration of deals among some successful companies but more and more companies are now looking.” This will include different sectors and private companies, and also more regional SOEs, such as Yanzhou Coal, which recently bought Australia’s Felix Resources.
It is a safe bet that Chinese firms will continue to seek a secure supply of mining and natural-resource assets. These are the fuels of the mighty Chinese industrial juggernaut, which has a ways to go before shifting into top gear. But the nature of investment in resources is likely to change. As we have already seen, CIC, China’s sovereign wealth fund, has become more active in accessing resource deals. Companies directly involved in the resources sector are likely to chase smaller equity stakes, although this should generate higher volumes overall, some observers say. In terms of M&A, Chinese interest will remain keen in markers where resources have been developed and are easily accessible, such as Australia and Canada. But China has also begun to cut deals with resource-rich African nations under which it will fund the building of infrastructure in exchange for resources such as oil and copper.
Clean energy is also billed as a strong candidate for deals. China is now the world’s leading producer of greenhouse emissions and is in desperate need of less-polluting power sources. But no less important is the fact that China regards clean energy as one of the most promising new sectors in which no country has a huge advantage over the others. China thus feels it can leverage massive potential demand in its domestic market to become a global industry leader.
Technology of any kind will be a prime target of Chinese M&A. Sectors of particular note include car components, IT and micro-electronics. Meanwhile, Chinese suppliers to original equipment manufacturers (OEMs) are now buying those OEMs to controls the whole supply chain.
3. Law and economics (10分)
Law and economics, known as the economic analysis of law, stresses that markets are more efficient than courts. When possible, the legal system, according to the positive theory, will force a transaction into the market. When this is impossible, the legal system attempts to “mimic a market” and guess at what the parties would have desired if markets had been feasible.
The second characteristic of law and economics is its emphasis on incentives and people’s responses to these incentives. For example, the purpose of damage payments in accident (tort) law is not to compensate injured parties, but rather to provide an incentive for potential injurers to take efficient (cost-justified) precautions to avoid causing the accident. Law and economics shares with other branches of economics the assumption that individuals are rational and respond to incentives. When penalties for an action increase, people will undertake less of that action. Law and economics is more likely than other branches of legal analysis to use empirical or statistical
methods to measure these responses to incentives.
对外经济贸易大学
2010年硕士学位研究生入学考试初试试题
考试科目:815经济学综合
一、 单项选择(每小题1分,共10分)
1.某消费者效用函数TU=4X-3X2 ,X为某种商品的消费量,则该消费者效用极大化的消费量为( )。
A. X=1/4 B. X=2/3
C. X=3/4 D. X=2/5
2.下列( )属于企业决策中的沉淀成本。
A. 购买机器设备的支出 B. 广告支出
C. 租用厂房的支出 D. 支付给劳动力的工资支出
3.根据斯塔克博格模型的分析,两个生产相同产品且成本相同的寡头厂商顺序决定产量时,( )。
A. 先决策的厂商获利更多 B. 后决策的厂商获利更多
C. 两个厂商获利相等 D. 不能确定哪一个厂商获利更多
4.如果规模报酬不变,单位时间里增加了20%的劳动收入,而保持资本投入不变,那么产出将( )。
A. 增加20% B. 减少不到20%
C. 减少20% D. 增加不到20%
5.若某产品市场在完全竞争条件下实现了均衡,则( )。
A. 消费者得到了最大效用 B. 生产者实现了最大利润
C. 需求等于供给量 D. 以上都对
6.政府购买支出的变化导致收入变动超过最初支出的变化量,这是因为( )。
A. 政府购买支出对收入变化很敏感 B. 经济最初处于总收支均衡点
C. 消费支出随收入变化而变化 D. 潜在GDP发生了变化
7.通货膨胀对收入和财富再分配的影响是指通货膨胀( )。
A. 造成收入结构的变化 B. 使收入普遍上升
C. 使债权人收入上升 D. 使收入普遍下降
8.下列不属于供给冲击的是( )。
A. 工人罢工 B. 暴雨使得农业减产
C. 货币供给下降 D. 铁矿石涨价
9.假设某国经济的生产函数为Cobb-Douglas函数形式,其中劳动报酬的份额为0.7,资本的份额为0.3。如果资本存量增长率等于1%,劳动力增长率为2%,全要素生产率增长率为
1.2%,实际产出的增长率为( )。
A. 1.2% B. 1.4%
C. 2.6% D. 2.9%
10.本国实行固定汇率制度,其主要贸易伙伴发生通货膨胀,则( )。
A. 本国贸易逆差 B. 政府将购进外汇
C. 本币供给将减少 D. 以上都对
二、 判断下列表述的经济含义是否正确(每小题1分,共10分)
1. 风险溢价表示了一个风险规避者愿意为规避风险而付出的代价。
2. 沿着预算线移动,消费者的货币收入是不变的。
3. 在完全竞争厂商的短期生产中,当厂商的平均收益等于平均成本时,厂商可以继续生产,也可以不生产,因此该均衡点被称为停止营业点或关闭点。
4. 在买方垄断市场中,买方支付的价格等于他所得到的边际价值。
5. 两种商品在消费者之间的有效配置意味着这两种商品的边际替代率对所有消费者来说都是相同的。
6. 张先生买彩票中了1万元,这笔钱应该被计入GDP。
7. 短期宏观经济均衡时,劳动市场仍然可能处于非均衡状态。
8. 当国家间的资本完全流动时,财政政策在开放经济中的效应大于在封闭经济中的效应。
9. IS曲线和LM曲线的交点表示产品市场和货币市场的同时均衡,且处于充分就业条件下的均衡。
10. 洛沦兹曲线的弯曲程度越大,收入分配越不平等。
三、 名词解释(每小题4分,共16分)
1. 连带外部效应(network externality)
2. 期望效用
3. 相机抉择政策
4. 价格粘性
四、 计算分析题(每题10分,共20分)
1. 假设某完全竞争的成本不变行业中所有厂商的长期成本函数都为:LTC=q3-6q2+20q(q为产量),试求:
(1)如果产品的市场价格为20,利润最大化时厂商的产量和利润;(3分)
(2)该行业长期均衡时的价格和单个厂商的产量;(3分)
(3)行业的长期供给函数;(2分)
(4)若市场需求函数为Q=100-5P,行业长期均衡时的厂商数目。(2分)
2. 给定一国的宏观总生产函数为Y=AN2/3K1/3,其中Y为总产出,K=390为资本总量,N=13为劳动力数量,假定劳动力数量按人口每年1%的增长速度增长,资本存量的折旧率为5%,技术水平A为1,请根据具体的计算结果回答:
(1)该经济的人均产出将随时间如何变化?(5分)
(2)劳动报酬和资本报酬的比例随时间如何变化?(5分)
五、 证明与简答题(每题8分,共16分)
1. 证明:若消费者的全部收入只购买两种商品,那么这两种商品不可能都是劣等品。
2. 作图说明总需求曲线的推导过程并解释总需求曲线向右下方倾斜的原因。
六、 论述题(每题14分,共28分)
1. 目前,在北京的一些购物中心地铁站等处,出现了不少优惠券终端机。顾客在终端机前选择商户,打印优惠券,凭优惠券在消费时可享受5折到9折不等的优惠。每天有不少年轻人光顾这些优惠券终端机,体验省钱消费之道。厂商为什么要发这些优惠券?为什么它不简单地降低产品的价格,并省下印制和回收这些优惠券的成本?
2. 中央银行控制货币供应量时所能采取的工具有哪些?根据总供求模型分析:当工资随时间缓慢调整时,名义货币供给量的增加对价格水品,实际产出和实际货币供给量的短期影响及长期影响。
七、 专业英语(英译中,共50分)
1. Market Structure and Innovation (20分)
Which market conditions are optimal for effective and sustained innovation to occur? This is a question that has vexed economics and business academics for many years. High levels of research and development spending are frequently observed in oligopolistic markets, although this dose not always translate itself into a fast pace of innovation.
The recent work of William Baumol (2002) provides support for oligopoly as market structure best suited for innovation behavior. Innovation is perceived as being “mandatory” for businesses that need to establish a cost-advantage or a significant lead in product quality over their rivals.
“As soon as quality competition and sales efforts are admitted into the sacred precincts of theory, the price variable is ousted from its dominant position……But in capitalist reality as distinguished from its textbook picture, it is not that kind of competition which counts but the competition which commands a decisive cost or quality advantage and which strikes not at the margins of profits and the outputs of the existing firms but at their foundations and their very lives. This kind of competition is as much more effective than the other as a bombardment is in comparison with forcing a door.”
Supernormal profits persist in the long-run in an oligopoly and these can be used to finance research and development.
2. The other exit strategy (20分)
Independent budget offices would help politicians’ promises to be prudent tomorrow. Economic policymakers across the rich world face two delicate balancing acts over the new few years. The first, involving monetary policy is being widely discussed and carefully planned by teams of technocrats. Central bankers must keep their balance-sheets big and interest rates low for long enough quickly to prevent deflation setting in, but they also have to be prepared to change things quickly to prevent inflation taking off. The second balancing act, involving fiscal policy, depends on politicians rather than specialists-and has, so far, been shamefully ill-planned.
In the short term public largesse is a necessary response to the slump in private demand. Budget deficits have ballooned—to and average of almost 10% of GDP across the big, rich countries—for good reasons, as governments have bolstered their banks and provided fiscal stimulus, and as sagging economics have sapped tax revenues. Withdrawing that support too fast would be foolish. Particularly after a banking bust, premature fiscal tightening can push weak economics back into decline, as Japan’s ill-timed consumption-tax increase in 1997 showed. The same risk holds today, particularly if the fiscal squeeze involves incentive-dulling tax increases.
But public profligacy cannot last for ever. Even if the nascent recovery takes hold, the IMF
reckons the gross government debt of the rich world’s big economics will reach an average of 115% of GDP by 2014 and continue to rise thereafter in some places, notably America. The weight of this debt will eventually push up interest rates, crowd out private investment and sap economics growth. Far nastier outcomes, from out-of-control inflation to outright default, are conceivable.
3. Arbitration (10分)
All disputes in connection with this contract or the execution thereof shall be settled by negotiation between two parties. If no settlement can be reached, the case in dispute shall then be submitted for arbitration in the country of defendant in accordance with the arbitration regulations of the arbitration organization of the defendant country. The decision made by the arbitration organization shall be taken as final and binding upon both parties. The arbitration expenses shall be borne by the losing party unless otherwise awarded by the arbitration organization.
对外经济贸易大学
2009年硕士学位研究生入学考试初试试题
考试科目:815经济学综合
一、 单项选择(每小题1分,共10分)
1. 如果玉米是猪的一种饲料,则对玉米市场的最低限价会导致__。
A.玉米需求减少,价格下降 B. 玉米价格上升,猪肉供给量减少
C.猪肉供给减少,价格上涨 D. 猪肉需求减少,价格下降
2. 电影票的市场需求为Q=500-10 P,如果电影票的价格为30元/张,市场的消费者剩余等于__。
A. 1000元 B. 2000元 C. 4000元 D. 6000元
3. 在完全竞争市场中,只有符合__条件的产量才是短期中利润最大化的产量。
A. P=SMC, 且SMC>SAC B. P=SMC, 且SMC<SAC
C. P=SMC, 且SMC递增 D. P=SMC, 且SMC递减
4. 某产品的市场需求函数为Q =200-10 P,当产品定价为12元时,根据勒纳的垄断势力度指标,可知该产品的边际成本为__元。
A. 2 B. 4 C. 8 D. 10
5. 垄断竞争厂商在长期均衡条件下__。
A. 超额利润为零
B. 价格高于边际成本
C. 在均衡点上主观需求曲线的弹性大于实际需求曲线的弹性
D. 以上说法均正确
6. 货币乘数的大小__。
A. 不受中央银行行为的影响
B. 随着高能货币的减少而减少
C. 随着通货—存款比率的下降而下降
D. 随着准备金比率的下降而上升
7. 根据永久收入消费理论,永久收入的边际消费倾向应该__现期收入的边际消费倾向。
A.大于 B. 小于 C. 等于 D. 均有可能
8. 以下情形中国民收入最多的是__。
A. 政府转移支付增加500亿美元 B.储蓄增加500亿美元
C. 政府国防开支增加500亿美元 D.个人所得税减少250亿美元
9. 许多经济学家认为轻微的通货膨胀可以扩大产出和就业,这主要指的是__。
A. 需求拉动型通货膨胀 B. 利润推动型通货膨胀
C.结构性通货膨胀 D. 工资推动型通货膨胀
10. 在解释工资粘性的内部人—外部人模型中,外部人是__。
A.企业外部已经处于失业的劳动者 B. 企业外部的政府官员
C. 其他企业中已就业的工人 D. 企业内部已经就业的工人
二、 判断下列表述的经济含义是否正确(每小题1分,共10分)
1. 如果某产品需求曲线向右下方倾斜,则可判定它必为正常品。
2. 若对某消费者来说,货币的边际效用随收入的增加而递减,则表明该消费者是风险爱好者。
3. 如果一项经济活动属于外部不经济活动,那么该经济活动的私人成本小于社会成本。
4. 若劳动的供给曲线是完全无弹性的,则经济租等于零。
5. 商品交换的契约曲线表明了两种商品配置最优的所有可能性。
6. 社会保险税的增加并不影响国内生产总值、国内生产净值、国民收入,但会直接影响个人可支配收入。
7. 国民经济中只要有摩擦性失业或自愿性失业存在,就不能说经济实现了充分就业。
8. 乘数原理说明国民收入的决定,加速原理说明投资的决定。
9. 当人们预期利率下降,他们将出售债券。
10. 在开放经济中,一国只有通过实施货币政策而不是财政政策才能实现充分就业和国际收支平衡。
三、 名词解释(每小题4分,共16分)
1. 替代效应
2. 逆淘汰〔逆向选择〕
3. 货币非中性
4. 索罗剩余
四、 计算分析题(每题10分,共20分)
1. 某公司有如下生产函数:Q〔K,L〕=3㏑K+2㏑L,若资本价格为4元,劳动价格为6元,问:
〔1〕若公司已经拥有资本K =1800单位,为了使生产成本最小,该公司应雇佣多少劳动力?
〔2〕若劳动为固定要素, 资本是变动要素,厂商生产产品的边际成本是多少?
2. 假设某经济体的消费函数为C=400+0.8Y,投资函数为I=100-50r,政府购买为G=100,货币需求函数为L=150+0.5Y-125r,货币供给M=1150,价格水平P=1。 〔1〕写出IS,LM方程。
〔2〕计算均衡的国民收入和利率。
〔3〕如果该国充分就业的国民收入是4000,若用增加政府购买实现充分就业,应该增加
多少政府购买。
五、 证明与简答题(每题8分,共16分)
1. 寡头垄断市场的需求曲线为P=a-bQ,n个具有相同边际成本c的厂商,以古诺方式竞争生产相同的产品,证明:当n趋向于无穷大时,该产品的市场 价格等于边际成本。
2. 简述税收制度如何发挥财政的自动稳定器功能。
六、 论述题(每题14分,共28分)
1. 运用微观经济学的理论并结合实际分析我国以保护价〔支持价〕敞开收购农民余粮的福利效应。
2. 中国在实现经济结构调整中希望刺激消费的同时相对减少投资。根据IS—LM模型,你认为政府可以采取什么政策来达到这种经济结构的调整?分别指出这些政策发挥作用的传导机制和对宏观经济总量〔收入、投资、利率等〕的具体影响。
七、 专业英语(英译中,共50分)
1. Taking another road〔20分〕
LESS than a month after losing its first legal dispute with the World Trade Organization(WTO), China has introduced a new tax that will achieve much of what it originally wanted, only by another route. Moreover, it is a “green” tax. Who could object to that?
For the past few years China has imposed a special 25% tariff on imported car parts, rather than the usual 10%, if the parts made up more than half of the value of a vehicle. This was to encourage foreign carmakers to use more local suppliers and reduce imports. But America, the European Union and Canada argued that the tariff was against WTO rules. In July the WTO, based in Geneva, agreed.
China may yet appeal. In the meantime, the government has found another way to reduce the flow of expensive automotive imports. On August 13th the government announced a new “green” tax that will come into effect on September 1st. The new tax is meant to reduce fuel consumption and fight pollution. Rather than further raising the tax on fuel, which increased by almost 20% in June, the government is taxing gas-guzzling cars. By an amazing coincidence, most such cars are foreign-made.
Cars with engine capacities larger than 4.1 litres will now incur a 40% sales tax—twice the previous level. Cars with engines between 3 and 4.1 litres will be taxed at 25%, up from 15%. The tax on the smallest cars, with engines smaller than 1 litre, will fall from 3% to 1%. The 8% and 10% taxes on other cars will not change. The government says the new tax will encourage a shift to more fuel-efficient cars. It will also help Chinese carmakers, as they tend to make cars with engines smaller than 2.5 litres. Foreign carmakers, which make most of the cars with larger engines, will suffer.
China’s new tax is canny. It cuts fuel use, reduces imports, benefits local carmakers and may help to improve air quality. It also prevents any more pesky calls from Geneva.
2. Credit Derivatives (20分)
Until last year credit-default swaps (CDSs) were hailed as a wonder of modern finance. These derivatives allow sellers to take on new credit exposure and buyers to insure against companies or governments failing to honour their debts. The notional value of outstanding CDSs exploded from almost nil a decade ago to $62 trillion at the end of 2007. Traded privately, or “over the counter”, by banks, they seemed to prove that large, newfangled markets could function perfectly well with minimal regulation.
That view now looks quaint. Since September a wave of large defaults and near-misses, involving tottering banks, brokers, insurers and America’s giant mortgages agencies, Fannie Mae and Freddie Mac, has sent the CDS market reeling. Concern that CDSs are partly to blame for wild swings in financial shares has frayed nerves further.
The failure in mid-September of Lehman Brothers showed that the main systemic risk posed by CDSs came not from widespread losses on underlying debts but from the demise of a big dealer. The aftershock spread well beyond derivatives. Almost as traumatic was the rescue of American International Group (AIG), a huge insurer that had sold credit protection on some $440 billion of elaborate structures packed with mortgages and corporate debt, known as collateralised-debt obligations (CDOs). Had AIG been allowed to go bust, the swaps market might well have unravelled.
Foul-ups with derivatives are hardly uncommon, but CDSs have been causing particular consternation. One reason is the broad threat of “counterparty risk” —the possibility that a seller or buyer cannot meet its obligations. Another is the rickety state of back-office plumbing, which was neglected as the market boomed. A third is that swaps can be used to hide credit risk from markets, since positions do not have to be accounted for on balance-sheets. They make it beguilingly easy to concentrate risk.
Originally conceived as a means for banks to reduce their credit exposure to large corporate clients, CDSs quickly became instruments of speculation for pension funds, insurers, companies and (especially) hedge funds. And with no fixed supply of raw material, unlike stocks or bonds, bets could be almost limitless.
The root cause of the crisis, some expert argues, is bad mortgage lending, not derivatives: swaps on subprime mortgages grew unstable because the loans themselves were dodgy. Last month one of the CDS market’s founder urged regulators to distinguish between tools and their users: “Tools that transfer risk can also increase systemic risk if major counterparties fail to manage their exposures properly.”
3. Export and import prohibitions (10分)
If the embargo prohibits the export or import of goods except under license, one of the parties may thereby be placed under an implied duty to use reasonable endeavours to obtain a license. Failure to fulfill that duty will preclude the party in default from relying on frustration as a ground of discharge, unless he proves that any steps he could have taken to obtain a license would have been
useless. A similar, but distinct, problem arises where legislation in force at the time the contract is made imposes a similar prohibition. If one party expressly or impliedly undertaken to use reasonable endeavours to obtain a license, but with due diligence has been unable to do so, he will normally be released from liability. There is some doubt, however, whether such inability to obtain a license under an existing licensing system is properly to be regarded as frustration.
对外经济贸易大学
2008年硕士学位研究生入学考试初试试题
考试科目:815经济学综合
一、 名词解释(每小题3分,共12分)
1. 范围经济
2. 帕累托改进
3. 成本推动通货膨胀
4. 流动性陷阱
二、 单项选择(每小题1分,共10分)
1. 对于商品房价格将会进一步上升的预期,导致的直接结果是目前商品房市场中的( )
A. 供应量增加 B. 供给增加 C. 需求量增加 D. 需求增加
2. 如果闲暇是正常品,则财产性收入的增加会导致劳动供给量( )
A. 增加 B. 减少 C. 不改变 D. 不确定
3. 根据基尼系数的大小,下列四个国家中哪一个国家的分配最为平均:
A. 甲国的基尼系数为0.20 B. 乙国的基尼系数为0.35
C. 丙国的基尼系数为0.50 D. 丁国的基尼系数为0.60
4. 在一级价格歧视下,( )
A. 厂商根据消费者的需求价格弹性不同收取不同价格
B. 厂商可以在不同时间向消费者收取不同价格
C. 厂商只是改变了定价的方式,但是并没有改变产量水平
D. 产品的边际效益等于产品价格
5. 对于生产相同产品的厂商来说,( )模型分析得到的结论与竞争模型的结论相同。
A. 古诺(Cournot) B. 斯坦克伯格(Stackbelberg)
C. 波特兰德(Bertrand) D. 主导厂商(Dominant Firm)
6. 向政府雇员支付的报酬属于( )。
A. 政府购买支出 B. 转移支付 C. 政府税收 D. 消费
7. 决定美国和中国的投资乘数不一样的因素主要是:
A. 两国的平均消费倾向差异 B. 两国的边际消费倾向差异
C. 两国的企业投资的规模差异 D. 两国的投资预期收益差异
8. 在经济增长模型中,衡量技术进步最常用的度量标准是( )
A. 劳动利用程度 B. 资本利用程度
C. 索洛剩余 D. 劳动生产率
9. 通常认为,下列属于紧缩货币的政策是( )
A. 提高贴现率 B. 增加货币供给
C. 降低法定准备金率 D. 中央银行买入政府债券
10. 在浮动汇率制的开放经济中,净出口受到实际汇率变动的影响,财政政策效应( )
A. 与封闭经济中的效应并无区别
B. 小于封闭经济中的效应
C. 大于封闭经济中的效应
D. 可能大于、等于或小于封闭经济中的效应
三、 判断下列表述的内容是否正确(每小题1分,共10分)
1. 如果所有商品的价格变成原来的两倍,而收入变成原来收入的三倍,则消费者的预算线会平行向外移动。
2. 如果效用函数U(X,Y)=5X+6Y,则无差异曲线的边际替代率是递减的。
3. 只有当生产一定产量的生产者剩余非负时,厂商才会生产产品。
4. 根据古诺模型,如果厂商越多,那么达到均衡时行业的利润越大。
5.若生产和消费中存在正的外在性(externality),竞争市场的效率就能提高。
6.国内生产总值(GDP)中不包括折旧和转移支付。
7.附加预期的菲利普斯曲线表明:短期中通货膨胀和失业之间存在替代关系,而长期中这种替代关系并不存在。
8.如果投机性货币需求曲线接近水平形状,这意味着货币需求不受利率的影响。
9.政府支出的增加将使总供给曲线向左移动。
10.失业救济金的提高有助于降低自然失业率。
四、 计算分析题(每题8分,共16分)
1.在某一商品市场上,有100个相同的消费者,每个人的需求函数都是Qd=28-2P;同时有10个相同的生产者,每个生产者的供给函数都是Qs=40P-20。其中,Qd和Qs分别代表需求量和供给量,单位:个;P代表价格,单位:元。
(1)求该商品的市场均衡价格和均衡交易量。
(2)如果政府对每单位商品征收3元的销售税,消费者和生产者各自承担了多少税收负担?政府得到的税收总量是多少?
(3)消费者剩余、生产者剩余及无谓损失有多大?
2. 假设某一国家的居民总是将可支配收入中的10%用于储蓄,且充分就业的国民收入为7000亿美元。今年的私人投资支出为900亿美元,政府购买支出为600亿美元,出口为200亿美元,自发性消费为500亿美元,平均税率为10%,进口函数为M=0.21Y。若,请计算今年该国政府的预算盈余和充分就业时的预算盈余,并据此说明该国政府目前的财政政策是扩张性的还是紧缩性的。
五、简答题(每题7分,共28分)
1.为什么说边际报酬递减规律是短期成本变动的决定因素?
2.举例说明信息不对称所产生的逆向选择(adverse selection)问题如何导致了商品市场中的市场失灵。
3. 为什么说消费物价指数(CPI)往往高估了价格上涨的幅度?
4. 宏观经济政策的目标是什么?为达到这些目标可采用的政策工具有哪些?
六、 论述题(每题12分,共24分)
1. 物业税,又称“财产税”或“地产税”,主要针对土地、房屋等不动产,要求其所有者或承租人每年都缴付一定税款,税额随房产的升值而提高。试利用经济学原理分析征收物业税对房地产市场会产生什么样的影响?
2. 根据IS—LM模型分析资本完全流动的开放经济中货币政策的有效性。
七、 专业英语(英译中,共50分)
对外经济贸易大学
2007年硕士学位研究生入学考试初试试题
考试科目:815经济学综合
一、 名词解释(每小题3分,共12分)
1.生产者剩余
2. 柯布-道格拉斯生产函数
3. 奥肯定律
4. 附加预期的总供求曲线
二、 判断下列表述的内容是否正确(每小题3分,共12分)
1. 现在许多国家的高等教育发展中出现了一种现象,即伴随着大学学费的上涨,人们对大学的需求是增加的,这种市场现象被视为需求定理的例外。
2. 当一个企业处在规模报酬递增的生产阶段时,一定意味着该企业不会出现要素边际报酬递减。
3. 在宏观经济学中,影响一国总需求中得投资概念包括有多种形式,如企业固定资产投资,以及人们对债券、股票的购买等。
4. 现代宏观经济理论认为,政府可以通过同时控制利率和货币存量来实施宏观货币政策。
三、简答题(每题7分,共28分)
1. 简述一个经济社会通过市场机制实现资源最优配置必须满足的条件。
2. 简述一种低档产品(inferior goods)的价格变动对消费者均衡购买的影响。
3. 简述鲍莫尔-托宾交易性货币需求模型。
4. 根据凯恩斯主义的IS-LM模型说明,为什么在经济萧条时期实施扩张性货币政策的作用有很大的局限性,但实施扩张性财政政策对国民收入会产生很大的作用?
四、 计算分析题(每题12分,共48分)
1. 2006年度诺贝尔经济学奖得主费尔普斯认为,在实现长期稳定的经济增长时应该实现一个最大化的稳态消费水平,试问这个稳定消费水平如何确定?并运用经济学理论分析在短期和长期中,储蓄率提高对一国收入水平的收入增长的具体影响。
2.我国近两年来的液晶彩电市场通过减价经历了激烈的市场竞争,试分析我国的彩电行业属于什么类型的市场结构?如果各大彩电商家能够实现限购联盟或限产联盟,那么这些方法是否能有效地解决彩电市场的激烈竞争?为什么?
3. 某产品生产企业的生产函数是Q=100K0.5L0.5。目前,该企业投入的资本K和劳动力L分别为100和25,这一组合是厂商实现利润最大化时的要素有效组合。请计算:
(1)根据上述投入量,资本和劳动的边际产量各为多少?
(2)如果资本的价格是20元,那么工资率是多少?
(3)如果下一期资本的价格上涨为25元,而劳动力的价格和投入量都不改变,为了保证有效率的生产,资本投入量应是多少?这时的总产量是多少?
4. 下列等式描绘了一个经济体:
C=0.8(1-t)Y
t=0.25
I=900-50i G=500 L=0.25Y-62.5i CU=150
RE=100
cu=0.2
re=0.1
P=2
这里,C表示消费支出,Y表示国民收入,t表示税率,I表示投资支出,G表示政府购买支出,i表示利率,L表示真实货币需求,CU表示通货,RE表示准备金,cu表示通货存款比率,re表示准备率,P表示价格水平。
(1)求IS曲线和LM曲线方程,并计算均衡收入和均衡利率。
(2)计算财政政策乘数和货币政策乘数。
(3)现在政府要改变需求的构成,减少消费100、增加投资100,从而保持当前的收入水平不变。请问:需要什么样的政策组合?用IS-LM曲线模型表示你的建议,并计算出需要调整的政策变量变化量是多少。
(4)假设充分就业的收入水平为4000,政府准备采用扩张性政策以实现充分就业,请问:如果单独采用扩张性财政政策,需要增加多少政府购买支出?如果采用扩张性财政政策的同时,采用适应性货币政策,政府购买支出和名义货币供给的变化量分别为多少?
五、专业英语(英译中,共50分)