宏观经济 习题34-36.docVIP

Chapter 34 The Influence of Monetary and Fiscal Policy on Aggregate Demand Multiple Choice 1. Fiscal policy affects the economy a. only in the short run. b. only in the long run. c. in both the short and long run. d. in neither the short nor long run. 2. Which of the following is not a reason the aggregate demand curve slopes downward? As the price level increases a. firms may believe the relative price of their output has risen. b. real wealth declines. c. the interest rate increases. d. the exchange rate increases. 3. For the U.S. economy, which of the following is the most important reason for the downward slope of the aggregate-demand curve? a. the wealth effect b. the interest-rate effect c. the exchange-rate effect d. the real-wage effect 4. Liquidity preference refers directly to Keynes theory concerning a. the effects of changes in money demand and supply on interest rates. b. the effects of changes in money demand and supply on exchange rates. c. the effects of wealth on expenditures. d. the difference between temporary and permanent changes in income. 5. According to the theory of liquidity preference, the money supply a. and money demand are positively related to the interest rate. b. and money demand are negatively related to the interest rate. c. is negatively related to the interest rate while money demand is positively related to the interest rate. d. is independent of the interest rate, while money demand is negatively related to the interest rate. 6. According to liquidity preference theory, the opportunity cost of holding money is a. the interest rate on bonds. b. the inflation rate. c. the cost of converting bonds to a medium of exchange. d. the difference between the inflation rate and the interest rate on bonds. 7. In the short run, an increase in the money supply causes interest rates to a. increase, and aggregate demand to shift right. b. increase, and aggregate demand to shift left. c. decrease, and aggregate demand to shift right. d.