本站原创中级宏观经济学模拟试题8
1,(15points)whatareGDP,nominalGDP,realGDP,PotentialGDP,andwhatarelinkagesamongthem
2,(20points)Thefollowingequationsdescribeaneconomy.
Whataretheequilibriumlevelsofineandtheinterestrate
Supposegovernmentspendingincreaserom800to1000,whatistherequiredpolicymixtotacklecrowdingout
3,(20points)lookattherighthandsidepicture,andanswerfollowingquestions
WhatcanwelearnfromthispictureAndwhatisthetheoryunderlyingthisphenomena
Basedonthispicture,somepeoplearguethatitisthemoaryauthoritywhoproduceinflation.Pleasement.
Nowadays,thegrowthrateofmoneyinChinaisabout30%.Somepeopleexpectthatchinawillexperienceadouble-digitinflationinthenearfuture.Pleasement.
4,(20points)supposethattheChineseaggregateproductionfunctionis,whereiseducationenhancedlabor.Pleasefillintheblanktable,andthenanswerthefollowingquestions
ChinaannualgrowthofGDP,fixedcapital,labor,andTFP:1990-2005AveragegrowthofinputsPercentagesharesofGDPgrowthattributabletoperiodGDPKHLTFPKHLTFP90-9511.79.11.995-008.610.51.600-059.512.61.8Source:PerkinsandRawski(2016)Whatcanwelearnfromtheabovetable
Basedontherelevanttheoryyouknow,pleasementontheChinesegrowthpattern.
5,(25points)consideranopeneconomy
GraphicallyderiveIScurveinthefour-sectoreconomywhereexportisgiven.
SupposefinancialcrisistookplaceinUS,andthefour-sectoreconomywassufferingtheunexpecteddropinexport.PleasedepicttheeffectsofthisdropinIS-LMframeworkandAS-ADframework,respectively.
Explainthedifferencebetweenyouranswerstothetwoframeworks.
IsitnecessaryformacropolicymakerstotackletheshockIfso,HowtorespondAndwhatarepotentialchallengesthatmacropolicymakerayencounter