宏观经济学习题和答案-chapter 21.docVIP

Macroeconomics, 6e (Blanchard/Johnson) Chapter 21: Exchange Rate Regimes 21.1 Multiple Choice Questions 1) If the exchange rate between two countries is expected to remain fixed at its current rate, then A) output growth rates must be equal in the two countries. B) price levels must be equal in the two countries. C) inflation rates must be equal in the two countries. D) nominal interest rates must be equal in the two countries. E) none of the above Answer: D Diff: 1 2) In a fixed exchange rate regime, a reduction in the price level will cause which of the following? A) a real appreciation and a leftward shift in the aggregate demand curve B) a real appreciation and no shift in the aggregate demand curve C) a real depreciation and a rightward shift in the aggregate demand curve D) a real depreciation and no shift in the aggregate demand curve E) no change in the real exchange rate, and no change in aggregate demand Answer: B Diff: 1 3) A revaluation causes which of the following to occur in the short run in the AS/AD model? A) a reduction in net exports B) a reduction in the price level C) a reduction in output D) all of the above E) none of the above Answer: D Diff: 2 4) A devaluation causes which of the following to occur in the medium run? A) an increase in net exports B) an increase in the price level C) an increase in output D) all of the above E) none of the above Answer: B Diff: 1 5) Suppose a country is perceived to have an overvalued real exchange rate does not devalue. Which of the following would we expect to occur over time? A) a reduction in its price level B) a real depreciation of its currency C) a reduction in its trade surplus D) all of the above E) none of the above Answer: D Diff: 1 6) In a fixed exchange rate regime, which of the following policies could be implemented to reduce a trade deficit and leave aggregate demand constant? A) devalue the currency B) increase government spending C) decrease government spending D) decrease governmen