2018年AP宏观经济学（选择题+简答题）真题及答案下载（PDF）

2018年AP宏观经济学（选择题+简答题）真题及答案下载（PDF）

2018年AP宏观经济学选择题真题如下：

1. Which of the following typically occurs during an expansionary phase of a business cycle?

(A) Nominal interest rates decrease.

(B) Income taxes decrease.

(C) The price level decreases.

(D) Government transfer payments increase.

(E) Employment increases.

2. Economic growth refers to an increase in which of the following?

(A) Government spending

(B) Consumption spending

(C) Nominal gross domestic product

(D) Potential real gross domestic product

(E) Household wealth

3. If both the nominal interest rate and the expected inflation rate increase, what will happen to the real interest rate?

(A) It will increase because the expected inflation rate has increased.

(B) It will increase because the nominal interest rate has increased.

(C) It will increase if the expected inflation rate increases by more than the nominal interest rate.

(D) It will decrease because the nominal interest rate has increased.

(E) It will decrease if the expected inflation rate increases by more than the nominal interest rate.

4. Which of the following statements is true about an expansionary fiscal policy?

(A) It decreases demand for loanable funds.

(B) It decreases the equilibrium price level.

(C) It decreases the equilibrium real interest rate.

(D) It increases aggregate demand.

(E) It increases the money supply.

5. Which of the following will most likely result from deflation?

(A) Increased nominal interest rates

(B) Increased business profits

(C) Increased real value of fixed incomes

(D) Decreased purchasing power of cash

(E) Decreased real wealth

6. Which of the following is a defining characteristic of a fractional reserve banking system?

(A) The existence of a central bank with a monopoly on money creation

(B) The use of paper money backed by a commodity such as gold or silver

(C) The fact that banks retain an amount of bank reserves that is less than the amount of customer demand deposits

(D) The requirement that banks maintain a certain percentage of their reserves as a deposit in an account at the central bank

(E) The regulations that separate investment banking from commercial banking

7. A negative aggregate supply shock will result in which of the following in the short run?

(A) An increase in the price level and a decrease in the unemployment rate

(B) A decrease in the price level and an increase in the unemployment rate

(C) A decrease in both the price level and real output

(D) An increase in both the price level and real output

(E) An increase in both the price level and the unemployment rate

。。。。2018年AP宏观经济学选择题真题如下省略！

2018年AP宏观经济学简答题真题如下：

1. Assume a country's economy is currently in recession.

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

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

(ii) Full employment output, labeled Y_f

(b) Identify one action the central bank can take to help the economy recover from the recession.

(c) Draw a correctly labeled graph of the money market, and show the impact of the central bank's action identified in part (b) on the nominal interest rate.

(d) On your graph for part (a), show the effect of the central bank's action identified in part (b) on real output and the price level.

( e) Assume there is an increase in business confidence as a result of the central bank's action.

(i) What will happen to the demand for capital goods?

(ii) Draw a correctly labeled graph of the loanable funds market, and show the effect of the change identified in part (e)(i) on the real interest rate.

(f) Given your answer to part (e), what is the effect on potential real output in the long run? Explain.

2. The exchange rate between the Australian dollar and the Indian rupee is determined in a flexible foreign exchange market.

(a) Assume India is currently in recession. What fiscal policy action could the Indian government take to eliminate the recession?

(b) What would be the effect of the fiscal policy action identified in part (a) on interest rates in India?

(c) Draw a correctly labeled graph of the foreign exchange market for the Australian dollar. Show on your graph the impact of the change in interest rates identified in part (b) on each of the following.

(i) The supply of Australian dollars

(ii) The equilibrium exchange rate of the Australian dollar

(d) What would be the effect of the change in the exchange rate identified in part (c)(ii) on Australian exports?

( e) What would be the effect of the change in Australian exports identified in part ( d) on Australian unemployment?

。。。。。2018年AP宏观经济学简答题真题省略！

2018年AP宏观经济学（选择题+简答题）真题及答案下载（PDF），20元有偿下载！