宏经考题A1

宏观经济学（A 卷）

Principles of Macroeconomics (Paper A)

Instructions: You have two hours to complete the test. Full marks are 100 points. Write

your answers on the answer sheet. You can answer your questions either in English or

Chinese. Read the questions carefully before answering them. Be precise and to the

physical and human capital, the level of technology, natural resources, fiscal policy and

monetary policy.

（ 3 ） An economy contains

2000 1bills.Ifpeopleholdequalamountsofcurrencyanddemanddepositsandban

ksmaintainareserveratioof10percent,thequantityofmoneyis11000.

（ 4 ） People worry always about the inflation in the long run because it lowers the

purchase power of money, so that a fall in purchase power is the important cost of

inflation.

（5） The purchasing-power parity theory is one of the most important long-run theories

of exchange rate. it is based on the law of one price. The law tells us that a good must

3.(15points)SupposethattheresidentsofacountryspendalloftheirincomeonA,B,

andC.In2009,theybuy100piecesofAfor300, 50 pieces of B

for 100,and20piecesofCfor80. In 2010, they buy 150 pieces of A

for 600,40piecesofBfor200, and 12 pieces of C

for 120.(1)Ifthebaseyearis2009,whatistheCPIinbothyears?(2)Whatistheinflati

onratein2010?(3)IftheFedwantstoreduceinflationrate,whichtoolsitcanchoose

tousetheoretically?Howtousethetoolsspecifically?(4)Useagraphofthemoneym

arkettoillustratetheeffectofmonetarypolicyof(3).Showtheresultingchangeinth

einterestrate.

4.(10points)TheBureauofLaborStatisticsannouncedthatinMay2009,ofalladul