中级宏观经济学模拟试题3_3
中级宏观经济学模拟试题 3
1、The following is information from the national income accounts for China.
1)(3 points) .CPI in 2008? 2) (3 points).PPI in 2008? 3) (6 points). GDP deflator in 2008? 4)(6 points). Do the three indexes indicate the same information? Please comment.
2、Shocks have become common occurrences in the modern economy.
1)(4 points). Depict the demand shock and supply shock in AS-AD framework, respectively. 2)(6 points). Specify the ensuing impacts on the level of output, inflation and unemployment. 3)(10 points). How does the policy maker respond to the two different kinds of shocks?
3、Consider a urbane economy with production function Y=F(L)and demand for real money balancesM=3Y-50i. For d
2)(3 points). What’s the equation that describes the IS curve? 3)(3 points). What’s the equation that describes the LM curve?
4)(4 points). What are the equilibrium levels of income and interest rate?
5)(7 points) Suppose government spending rises by 4 trillion. What is the required monetary accommodation policy?
4、The table below shows the lifetime earnings profile of person who lives for two periods. For simplicity, assume that the interest rate is 0, and the lifetime utility is∑lnci, where cithe level of consumption in the period i.
i=1
2
the level of consumption that can maximize the lifetime utility.
2)(4 points). Suppose there are liquidity constrains in the economy, determine the level of consumption that can maximize the lifetime utility.
3)(6 points) Now suppose the government spending rises by 10, which are financed by lump-sum taxes paid by those who lives in period one. How does this assumption affect your answers to parts1) and 2)?
4)(6 points) Now suppose the government spending rises by 10, which are financed by lump-sum taxes paid by those who lives in period two. How does this assumption affect your answers to parts1) and 2)? 5)(6 points) explain the difference between your answers to parts3) and 4).
5、By the end of November 2008, 10m migrant workers had lost their jobs nationwide and 4.85m of those had returned home, according to government figures. A survey by a government think-tank estimated the number of recent graduates who have been unable to find work at 1.5m. Tertiary institutions are expected to churn out another 6.5m graduates next year.
Wen Jiabao, the prime minister, told students at the Beijing University of Aeronautics and Astronautics: “We have made finding jobs for university students our top priority and will come out with some measures to make sure all graduates have somewhere constructive to direct their energy.”
1)(4 points) Specify the definition of the unemployment, and how to measure the unemployment in China.
2)(12 points) some people argue that the large-scale unemployment in China can be a huge problem, which is due to the business cycle, the global financial and economic crisis started in US, and unfavorable macro measures adopted in the last two years. Please comment.