2013年AP宏观经济学（选择题+简答题）真题及答案下载（PDF）

2013年AP宏观经济学（选择题+简答题）真题及答案下载（PDF）

1. Which of the following combinations of economic policies would be most effective to correct a severe recession?

Taxes    Money Supply

(A) Increase   Increase

(B) Increase   Decrease

(C) Increase   No change

(D) Decrease   Increase

(E) Decrease   Decrease

2. Any point inside a production possibilities curve is

(A) better than points on the production possibilities curve

(B) allocatively efficient but technologically inefficient

(C) associated with inefficient use or unemployment of some resources

(D) associated with movements along the production possibilities curve

(E) associated with constant opportunity costs

3. If nominal gross domestic product in a country is $1,600 and the money supply is $400, what is the velocity of money?

(A) 400

(B) 10

(C) 4

(D) 2

(E) 0.5

4. An increase in which of the following would most likely cause the gross domestic product of a country to decrease in the short run?

(A) Government spending

(B) Imports

(C) Money supply

(D) Consumption spending by households

(E) Investment spending by domestic firms

5. A country’s infrastructure refers to its

(A) natural resources

(B) private financial institutions

(C) proportion of population with postsecondary education

(D) public capital goods such as highways

(E) internal, as opposed to external, debt

6. In the short run, which of the following will most likely result if wages in an economy rise faster than workers’ productivity?

(A) An increase in the price level

(B) An increase in firms’ profits

(C) An increase in efficiency in labor-intensive industries

(D) A larger increase in property income than in labor income

(E) A decrease in import prices

7. When the central bank sells government bonds on the open market, which of the following will most likely increase?

(A) Bank reserves

(B) Price of bonds

(C) Money supply

(D) Nominal interest rates

(E) The required reserve ratio

。。。。。2013年AP宏观经济学选择题真题省略！

2013年AP宏观经济学简答题真题如下：

1. Assume the economy of Country X is operating above its full-employment output level.

(a) Using a correctly labeled graph of aggregate demand, short-run aggregate supply, and long-run aggregate supply, show the short-run equilibrium, labeling the equilibrium price level as and the equilibrium output as Y_e.

(b) Draw a single correctly labeled graph and show both a short-run and a long-run Phillips curve. Identify a point that could represent the short-run equilibrium in part (a) and label it as Z.

(c) Assume that the central bank of Country X wants the economy to be in full-employment equilibrium. What open-market operation should the central bank initiate?

(d) Given your answer in part (c), what will be the effect of the central bank’s open-market operation on each of the following in the short run?

(i) The nominal interest rate

(ii) Employment. Explain.

(e) Assume that the real interest rate increases in Country X. Will the international value of Country X’s currency increase, decrease, or remain unchanged on the foreign exchange market?Explain.

(f) Assume that Country X’s financial account (formerly called capital account) balance is initially zero. Given your answer to part (e), will its financial account balance now be in surplus, be in deficit, or remain at zero?

2. The graph above shows the aggregate supply (AS) and aggregate demand (AD) curves for an economy.

(a) Calculate the spending multiplier if AD shifts to AD as a result of an increase in government spending of $100.

(b) Will a decrease in income taxes have to be larger, smaller, or equal to $100 in order to shift the AD by the same amount as the $100 increase in government spending? Explain.

(c) If the marginal propensity to save decreases, will the spending multiplier increase, decrease, or remain unchanged?

(d) Now assume instead that the AS curve is upward sloping. Would the change in real gross domestic product resulting from the $100 increase in government spending be greater than, less than, or equal to the change shown in the graph above?

(e) Now assume that wages and prices are perfectly flexible. As a result of a $100 increase in government spending, will real GDP increase, decrease, or remain unchanged? Explain.

2013年AP宏观经济学简答题真题余下省略！

2013年AP宏观经济学（选择题+简答题）真题及答案下载（PDF），20元有偿！