宏观经济学习题和答案-chapter 14.doc

Macroeconomics, 6e (Blanchard/Johnson) Chapter 14: Expectations: The Basic Tools 14.1 Multiple Choice Questions 1) Which of the following best defines the real interest rate (r)? A) the amount of goods we must give up next year in order to consume more goods today B) the amount of dollars we must give up next year in order to consume more goods today C) the amount of dollars we must give up next year in order to have more dollars today D) the amount of dollars we must give up today in order to have more dollars next year E) the amount of dollars we must give up today in order to consume more goods today Answer: A Diff: 1 2) The nominal interest rate is A) the interest rate measured in terms of goods. B) always less than the real interest rate. C) equal to the real interest rate minus the rate of inflation. D) the type of interest rate typically reported in the financial pages of newspapers. E) equal to the expected rate of inflation. Answer: D Diff: 1 3) If the nominal interest rate 8% and expected inflation 3%, the expected real interest rate in year t is approximately A) 2%. B) 3%. C) 5%. D) 8%. E) 11%. Answer: C Diff: 1 4) Whenever the expected inflation rate is positive A) the real interest rate is greater than the nominal interest rate. B) the real interest rate is negative. C) the real interest rate is positive. D) the nominal interest rate must be equal to the real interest rate. E) none of the above Answer: E Diff: 2 5) Suppose that the nominal interest rate increases while the expected inflation rate rises. Given this information, we know with certainty that the real interest rate A) will not change. B) will fall. C) will fall, but only if the increase in the nominal rate is smaller than the increase in expected inflation. D) will fall, but only if the increase in the nominal rate is greater than the increase in expected inflation. E) none of the above Answer: C Diff: 2 6) Under which of the following assumptions would the nominal interest rate be