学原理》(宏观)第五版测试题库.docVIP

Chapter 36 Five Debates Over Macroeconomic Policy TRUE/FALSE 1. Many studies indicate changes in monetary policy have most of their effect on aggregate demand about six months after the change is made. ANS: T DIF: 1 REF: 36-1 NAT: Analytic LOC: Monetary and fiscal policy TOP: Monetary policy MSC: Interpretive 2. The laws that created the Fed give the institution only vague recommendations about what goals it should pursue, and they do not tell the Fed how to pursue whatever goals it might choose. ANS: T DIF: 1 REF: 36-2 NAT: Analytic LOC: Monetary and fiscal policy TOP: Monetary policy MSC: Interpretive 3. The Federal Reserve operates under a rule that requires money supply growth by one percentage point for every percentage point that unemployment rises above its natural rate. ANS: F DIF: 1 REF: 36-2 NAT: Analytic LOC: Monetary and fiscal policy TOP: Monetary policy MSC: Interpretive 4. Proponents of a balanced government budget acknowledge that running a budget deficit is justifiable in time of war. ANS: T DIF: 1 REF: 36-4 NAT: Analytic LOC: Monetary and fiscal policy TOP: Government debt MSC: Interpretive 5. In effect, a consumption tax would put all saving automatically into a tax-advantaged savings account similar to an Individual Retirement Account (IRA). ANS: T DIF: 2 REF: 36-5 NAT: Analytic LOC: Monetary and fiscal policy TOP: Taxes, saving MSC: Interpretive 6. One prominent debate over macroeconomic policy centers on the question of whether monetary and fiscal policy should be used to try to stabilize the economy. ANS: T DIF: 1 REF: 36-1 NAT: Analytic LOC: Monetary and fiscal policy TOP: Stabilization policy MSC: Interpretive 7. People’s skepticism about central bankers’ announcements of their intentions stems from the fact that policymakers may act in a fashion that is time inconsistent. ANS: T DIF: 2 REF: 36-2 NAT: Analytic LOC: Monetary and fiscal policy TOP: Monetary policy MSC: Interpretive 8. Proponents of zero-inflation policies acknowledge that the