2017年AP宏观经济学（选择题+简答题）真题及答案下载（PDF）

2017年AP宏观经济学（选择题+简答题）真题及答案下载（PDF）

2017年AP宏观经济学选择题真题如下：

1. A production possibilities curve that is concave to the origin (bowed out) implies that as more of a good is produced, the opportunity cost

(A) remains constant

(B) decreases

(C) decreases at first and then increases

(D) increases

(E) increases at first and then decreases

2. In the long run, government subsidies that promote the development of technology with widespread business applications will have which of the following effects?

(A) A negative supply shock and lower price level

(B) A negative supply shock and lower economic growth rate

(C) A positive supply shock and lower price level

(D) A positive supply shock and lower economic growth rate

(E) A lower aggregate demand and lower price level

3. Olivia volunteers full time at an animal shelter and will not accept any offers for a paid job for the next six months. Olivia is

(A) cyclically unemployed

(B) not in the labor force

(C) employed

(D) structurally unemployed

(E) a seasonal worker

4. With an expansionary fiscal policy, what will most likely happen to the real gross domestic product (GDP) and the nominal interest rate in the short run?

Real GDP        Nominal Interest Rate

(A) Increase      Decrease

(B) Increase      Increase

(C) No change     No change

(D) Decrease      Increase

(E) Decrease      Decrease

5. Economic growth is best measured by a sustained increase in which of the following?

(A) Per capita real gross domestic product

(B) Government budget deficits

(C) Unemployment in unskilled labor markets

(D) Production of public goods

(E) Nominal gross domestic product

6. The long-run Phillips curve indicates that there are no trade-offs between

(A) aggregate demand and aggregate supply

(B) imports and exports

(C) consumption and investment

(D) consumption and saving

(E) inflation and unemployment

7. Assume that a country’s government increases borrowing. What will most likely happen to the prices of previously issued bonds and the price level in the short run?

Bond Prices     Price Level

(A) Increase    Increase

(B) Increase    Decrease

(C) Increase    No change

(D) Decrease    Increase

(E) Decrease    Decrease

。。。。2017年AP宏观经济学选择题真题省略。

2017年AP宏观经济学简单题真题如下：

1. Assume that a country’s economy is in a short-run equilibrium and the actual unemployment rate is lower than the natural rate of unemployment.

(a) Using a correctly labeled graph of the long-run aggregate supply curve, short-run aggregate supply curve,and aggregate demand curve, show each of the following.

(i) Current price level, labeled PL1, and current output level, labeled Y1

(ii) The full-employment output level, labeled YF

(b) What open-market operation can the country’s central bank use to move the economy toward its long-run equilibrium?

(c) Use a correctly labeled money-market graph to show how the country’s central bank action to move the economy toward its long-run equilibrium affects the equilibrium nominal interest rate in the short run.

(d) Based on the interest rate change from part (c), will each of the following increase, decrease, or remain the same in the short run?

(i) Real output. Explain.

(ii) Natural rate of unemployment

(e) Assume instead that the central bank does not pursue the monetary policy action from part (b) and there was no other government intervention. Will each of the following increase, decrease, or remain the same in the long run?

(i) Short-run aggregate supply. Explain.

(ii) Employment

2. The following is the balance sheet for Raymond Bank, one of many commercial banks in a country.

Assume a 10 percent reserve requirement.

(a) Calculate Raymond Bank’s required reserves.

(b) Calculate the maximum amount of additional loans that Raymond Bank can make without selling its holdings of government securities.

(c) Assuming that Raymond Bank and other banks now lend out all excess reserves, calculate the maximum possible change in the following.

(i) Demand deposits throughout the banking system

(ii) Total reserves throughout the banking system

(d) Suppose that the country’s central bank purchases $1,000 of Raymond Bank’s holdings of government securities as part of its open-market operations. Do Raymond Bank’s required reserves initially increase, decrease, or remain the same as a result of the central bank’s purchase? Explain.

。。。。2017年AP宏观经济学简单题真题余下省略！

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