中级宏观经济学模拟试题4 - 2

中级宏观经济学模拟试题 4

1、The following is information from the national income accounts for China.

2007-03 2007-06 2007-09 2007-12 2008-03 2008-06 2008-09 国内生产总值（现价）_(亿元) 累计 国内生产总值增速_累计 居民消费价格指数（上年=100）_当月 企业商品价格总指数（上年=100）_当月 工业品出厂价格指数（上年=100）_当月 (%) 51354 1 08913 1 69061 249530 61491 130619 2 01631 11.7 12.2 12.2 103.3 104.4 106.2 104.2 105.4 106.2 102.7 102.5 102.7 11.9 10.6 106.5 107 105 108 110 108 10.4 107 109 108 9.9 104 107 109

What is: 1)(3 points) .CPI in 2008? 2) (3 points).PPI in 2008? 3) (6 points). GDP deflator in 2008? 4)(6 points). Do the three indexes indicate the same information? Please comment.

2、Shocks have become common occurrences in the modern economy. 1)(4 points). Depict the demand shock in AS-AD framework.

2)(6 points). Specify the ensuing impacts on the level of output, inflation and unemployment. 3)(10 points). How does the policy maker respond to the shock?

3、Consider a urbane economy with production function Y?F(L)and demand for real money balancesM?3Y?50i. For simplicity, the level of investment is given, andP?1. The table below reports the behavior foundations. 城镇家庭可支配月收入_累计数 城镇家庭消费性支出_累计数 资本积累总额 货币和准货币（M2） (万亿元) (万亿元) （万亿元） (万亿元) 2008-06 2008-09 24 12 12 40 28 14 12 40 d1)(3 points). What’s the equation that describes the consumption function? 2)(3 points). What’s the equation that describes the IS curve? 3)(3 points). What’s the equation that describes the LM curve?

4)(4 points). What are the equilibrium levels of income and interest rate?

5)(7 points) Suppose government spending rises by 4 trillion. What is the required monetary accommodation policy?

4、The table below shows the lifetime earnings profile of person who lives for two periods. For simplicity, assume that the interest rate is 0, and the lifetime utility is 张三 李四 ?lnci, where cithe level of consumption in the period i.

i?12 教育水平 时期1 大学毕业 未上过学 时期1 15 30 150 30 1)(4 points). Suppose there are no liquidity constrains in the economy, determine the level of consumption that can maximize the lifetime utility.

2)(4 points). Suppose there are liquidity constrains in the economy, determine the level of consumption that can maximize the lifetime utility.

3)(6 points) Now suppose the government spending rises by 10, which are financed by lump-sum taxes paid by those who lives in period one. How does this assumption affect your answers to part 1)?

4)(6 points) Now suppose the government spending rises by 10, which are financed by lump-sum taxes paid by those who lives in period two. How does this assumption affect your answers to part 2)?

5)(6 points) explain the difference between your answers to parts3) and 4).

5、By the end of November 2008, 10m migrant workers had lost their jobs nationwide and 4.85m of those had returned home, according to government figures. A survey by a government think-tank estimated the number of recent graduates who have been unable to find work at 1.5m. Tertiary institutions are expected to churn out another 6.5m graduates next year.

Wen Jiabao, the prime minister, told students at the Beijing University of Aeronautics and Astronautics: “We have made finding jobs for university students our top priority and will come out with some measures to make sure all graduates have somewhere constructive to direct their energy.”

1)(4 points) Specify the definition of the unemployment, and how to measure the unemployment in China.

2)(12 points) some people argue that the large-scale unemployment in China can be a huge problem, which is due to the business cycle, the global financial and economic crisis started in US, and unfavorable macro measures adopted in the last two years. Please comment.

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