中级宏观经济学 ExerciseCH08.doc

Exercise for Macroeconomics Chapter 8 TRUE/FALSE 1. Intertemporal substitution effects are substitution effects over time. ANS: T PTS: 1 DIF: 1 NAT: Analytic 2. When the marginal product of labor increases due to a positive technology change, the real wage falls. ANS: F PTS: 1 DIF: 1 NAT: Analytic 3. The model predicts that in response to a permanent positive change in technology real consumption will be procyclical. ANS: T PTS: 1 DIF: 2 NAT: Analytic 4. An increase in the interest rate makes future consumption cheaper and future leisure more expensive. ANS: F PTS: 1 DIF: 2 NAT: Analytic 5. The income effect on labor supply is positive. ANS: F PTS: 1 DIF: 2 NAT: Analytic MULTIPLE CHOICE 1. The cyclical part of real GDP is a. trend real GDP less real GDP. c. real GDP/trend real GDP. b. real GDP less trend real GDP. d. trend real GDP/real GDP. ANS: B PTS: 1 DIF: 2 NAT: Analytic 2. Real GDP equals: a. trend real GDP plus the cyclical part of GDP c. trend real GDP less the cyclical part of GDP. b. trend real GDP times the cyclical part of GDP. d. trend real GDP divided by the cyclical part of GDP. ANS: A PTS: 1 DIF: 2 NAT: Analytic 3. An equilibrium business-cycle model: a. uses shocks to GDP to find equilibrium conditions. c. uses equilibrium conditions to determine how shocks affect real GDP and other macroeconomic variables. . b. uses GDP to find equilibrium shocks to the economy. d. uses GDP to find equilibrium conditions. ANS: C PTS: 1 DIF: 3 NAT: Analytic 4. An increase in the level of technology, A, causes: a. an increase in the MPL c. a movement along the MPL hiring more labor. b. a decrease in the MPL d. a movement along the MPL hiring less labor. ANS: A PTS: 1 DIF: 2 NAT: Analytic 5. The model predicts that an economic expansion caused by an increase in technology, A, will: a. drive down the real wage. c. drive up the real wage. b. cause labor supply to be greater than labor demand. d. lead to a relatively low real wage. ANS: C P