题目
题目

FA25 ECON 302 002 Final Exam (Chapters 7-9, 11-13, 19-20): Sample Questions

单项选择题

Consider the following model of the IS curve without an international sector: Consumption: 𝐶 𝑡 𝑌 ¯ 𝑡 = 𝑎 ¯ 𝑐 − 𝑏 ¯ 𝑐 ( 𝑅 𝑡 − 𝑟 ¯ ) ; Investment: 𝐼 𝑡 𝑌 ¯ 𝑡 = 𝑎 ¯ 𝑖 − 𝑏 ¯ 𝑖 ( 𝑅 𝑡 − 𝑟 ¯ ) ; and Government expenditure: 𝐺 𝑡 = 𝑎 ¯ 𝑔 𝑌 ¯ 𝑡 . Note that 𝑏 ¯ 𝑐  can be a positive or negative real number. With this formulation, the IS curve is:

选项
A.horizontal.
B.vertical.
C.less steeply sloped than the “standard” IS curve.
D.more steeply sloped than the “standard” IS curve.
E.Not enough information is given.
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思路分析
First, let's restate the setup in my own words to ensure clarity: we have a model of the IS curve without an international sector, with consumption C_t given as a function of output and the real interest rate through the form C_t/Y_bar_t = a_c_bar − b_c_bar (R_t − r_bar), investment I_t/Y_bar_t = a_i_bar − b_i_bar (R_t − r_bar), and government expenditure G_t = a_g_bar Y_bar_t. The note that b_bar_c can be either positive or negative means the consumption response to the real rate can go either way. The question asks what the IS curve looks like (i.e., its slope or orientation) given this formulation. Option 1: 'horizontal.' A horizontal IS curve would imply that Y_bar_t is completely insensitive to the real interest rate R_t, so changes in R_t do not affect equilibrium output. In this......Login to view full explanation

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类似问题

Consider the IS curve 𝑌 ~ 𝑡 = 𝑎 ¯ − 𝑏 ¯ ( 𝑅 𝑡 − 𝑟 ¯ ) + 𝑥 ¯ 𝑌 ~ 𝑡 , where 𝑏 ¯ = 1 , 𝑥 ¯ = 1 / 4 , and 𝑅 𝑡 − 𝑟 ¯ = 0.03 . If there is a positive demand shock where the economy goes from 𝑎 ¯ = 0 to 𝑎 ¯ = 0.05 , then short-run output changes by ______ percentage points (enter a negative number for a fall in short-run output and a positive number for a rise in short-run output). Round your answer to the nearest tenth of a percent.

Using the IS curve 𝑌 ~ 𝑡 = 𝑎 ¯ − 𝑏 ¯ ( 𝑅 𝑡 − 𝑟 ¯ ) , in the long run,  𝑎 ¯ [ Select ] equals 0 equals 1 and 𝑅 𝑡 [ Select ] > < = 𝑟 ¯ , so that [ Select ] the economy's actual output equals potential output. the economy is in a boom the economy is in a recession .

Consider an economy with the following IS curve: 𝐼 𝑆 : 𝑌 ~ 𝑡 = 𝑎 ¯ − 𝑏 ¯ ( 𝑅 𝑡 − 𝑟 ¯ )   Suppose we assume 𝑎 ¯ = 0.03 , 𝑏 ¯ = 1 , 𝑅 𝑡 = 𝑟 ¯ = 0.045 . Let Δ 𝑌 ~ 𝑡 = 𝑌 ~ 𝑡 − 𝑌 ~ 𝑡 ′ , where 𝑌 ~ 𝑡 is short-run output when the real interest rate equals 𝑅 𝑡 and 𝑌 ~ 𝑡 ′ is short-run output when the real interest rate equals 𝑅 𝑡 ′ . If the real interest rate falls from 𝑅 𝑡 to 𝑅 𝑡 ′ = 0.02 , then Δ 𝑌 ~ 𝑡 = ______ percent. Round your answer to the nearest tenth of a percent.

Consider the IS curve 𝑌 ~ 𝑡 = 𝑎 ¯ − 𝑏 ¯ ( 𝑅 𝑡 − 𝑟 ¯ ) + 𝑥 ¯ 𝑌 ~ 𝑡 , where 𝑏 ¯ = 1 , 𝑥 ¯ = 1 / 4 , and 𝑅 𝑡 − 𝑟 ¯ = 0 . If there is no demand shock, i.e. 𝑎 ¯ = 0 , and the real interest rate increases by 1 percentage points, then short-run output changes by ______ percentage points (enter a negative number for a fall in short-run output and a positive number for a rise in short-run output). Round your answer to the nearest tenth of a percent.

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