武汉大学宏观经济学期末试题.docVIP

武汉大学2008-2009学年第二学期期末考试 经济与管理学院 2008级 2009年6月30日 《宏观经济学》试题（A卷） Principles of Macroeconomics (Paper A) Instruction You have two hours to complete this test. Full marks are 100 points. Write your answers on the answer sheet. While you are allowed to answer either in English or Chinese, it would be more graded at a reasonable degree if you choose to do it in English. Read the questions carefully before answering them. Be precise and keep to the point. Good luck! Problem 1 (10 points) True or False? Explain your answer completely but briefly. (5 points) Consumption, investment, government purchases and net export are Not sources of Long-term economic growth. (2.5 points) It is one case of moral hazard that a patient is more likely to apply for health insurance than healthy men. (2.5pionts) According to the theory of efficiency wages, firms who pay wages at the equilibrium level will operate more efficiently. Problem 2 (10 points) Suppose there is a small farming economy that produces corn. In such an economy, 80 bushels (蒲式耳) are consumed, 10 go for government purchases to feed the army, 6 go into domestic investment as increases in inventories, and 11 bushels are exported. In addition, the economy imports 7 bushels of corn and taxes farmers by 12 bushels. What is the GDP of the economy? Calculate private saving, public saving and net capital outflow. Then explain the relationship between saving and investment. Assuming in the economy, women have worked more hours in producing corn. How would this affect GDP? Explain the paradox, “When a person marries his or her gardener (园丁), GDP goes down.” Do you think GDP is a good measure of national accounts? Problem 3 (10 points) Below are some data about Pizza and Latte (拿铁，一种咖啡). Pizza Latte year Price Quantity Price Quantity 2006 10.00 400 2.00 1000 2007 11.00 500 2.50 1100 2008 12.00 600 3.00 1200 Compute the GDP deflator for each year, using 2006 as the base year. Suppose that the base year for the CPI is 2006. If