2011年春宏观经济学公选课期中考试试题注：本次考试全部为单项选择题，请将答案写在一张16开纸上。请于第9周（2011年4月26日）晚上课时将答案交给我。1. In order to include many different products in a summary or aggregate measure, GDPa. uses a combination of weights and measures.b. uses a combination of price indexes and costs of production of the products.c. uses only the cost of production of the products.d. uses market prices.2. Chris lives in Utah, where gambling is illegal. Chris becomes a professional gambler, going to work each week in Idaho, where gambling is legal. In 2001, he earns $100,000 from his profession. What will be the effect of his earnings on GDP?a. None of his earnings will be included in GDP because gambling is illegal in his home state.b. Only the part of his earnings spent in Idaho will be included in GDP.c. GDP will increase by $100,000 because the income was earned legally.d. GDP will increase by a fraction of $100,000, equal to the fraction of the time Chris spends in Idaho.3. Latrell decides to hire Cynthia to mow his lawn, instead of mowing it himself, as he is accustomed to doing. As a result of this transaction,a. GDP will increase.b. GDP will decrease.c. GDP will be unaffected because the same service would be performed in either case.d. GDP could increase or decrease, depending on whether Cynthia mows Latrells lawn as well as Latrell could mow it himself.4. Suppose you find out that the GDP of China is $1,000 billion and the GDP of the United States is $10,000 billion. You should conclude thata. the typical person in the United States is 10 times as well off as the typical person in China.b. the typical person in the United States is more than 10 times as well off as the typical person in China.c. the typical person in the United States is less than 10 times as well off as the typical person in China.d. it is not possible to make a good comparison of the economic well-being of typical individuals in the two countries without additional information.5. The Necco candy factory in Cambridge, Massachusetts, found that it had produced 100,000 more rolls of Neccos in 1980 than it sold during the year. The value of those 100,000 rollsa. would be written off as a loss; hence, would not be included as part of 1980 GDP.b. would be included as part of GDP during the year in which they were finally sold.c. would be included as part of 1980 GDP in the category of inventory investment.d. None of the above are correct answers.6. Oiko Nomos buys a new computer in June 2001 and then sells it to a friend in December 2001. GDPa. will include the value of both the June sale and the December sale.b. will include the full value of the June sale, but only part of the value of the December sale, since the computer had been used.c. will include the value of the June sale only.d. will include the value of the December sale only, since that was the final sale of the computer in 2001.7. The income that households and noncorporate businesses receive is calleda. proprietors income.b. personal income.c. disposable personal income.d. national income.8. The government reports that GDP increased by 2 percent in the last quarter.a. GDP increased by 8 percent for the year.b. GDP increased at an annual rate of 8 percent during the last quarter.c. GDP increased at an annual rate of 2 percent during the last quarter.d. GDP increased at an annual rate of .5 percent during the last quarter.9. If you buy a seafood dinner in a local restauranta. neither GDP nor consumption spending will be affected because you would have eaten at home if you hadnt eaten at the restaurant.b. GDP will be higher, but consumption spending will be unchanged.c. GDP will be unchanged, but consumption spending will be higher.d. both GDP and consumption spending will be higher.10. If the GDP deflator was 100 in the base year of 2000, and was 105 in 2002, we can say thata. the price level increased by 105 percent from 2000 to 2002.b. the price level increased by 5 percent from 2000 to 2002.c. the price level increased by 205 percent from 2000 to 2002.d. we cannot judge price increases from changes in the GDP deflator.11. When the overall level of prices in the economy is increasing, we say that the economy is experiencinga. economic growth.b. inflation.c. unemployment.d. deflation.12. The price index in 2001 is 120, and in 2002 the price index is 126. What is the inflation rate?a. 5 percentb. 6 percentc. 26 percentd. The inflation rate is impossible to determine without knowing the base year.13. When prices change from year to year,a. they all change proportionately.b. they always increase.c. they usually decrease.d. they do not all change proportionately14. An important difference between the GDP deflator and the consumer price index is thata. the GDP deflator reflects the prices of goods and services bought by producers, whereas the consumer price index reflects the prices