经济学原理对应练习--Ch-30

1247Chapter30MoneyGrowthandInflationMultipleChoice1.Inflationcanbemeasuredbythea.changeintheconsumerpriceindex.b.percentagechangeintheconsumerpriceindex.c.percentagechangeinthepriceofaspecificcommodity.d.changeinthepriceofaspecificcommodity.ANS:BPTS:1DIF:1REF:30-1TOP:InflationMSC:Definitional2.Overthelast70yearstheaverageannualU.S.inflationratewasabouta.2percent.b.4percent.c.6percent.d.8percent.ANS:BPTS:1DIF:1REF:30-1TOP:U.S.inflationMSC:Definitional3.Overthelast70yearstheaverageannualU.S.inflationratewasabouta.2percentimplyingthatpriceshaveincreased10-fold.b.4percentimplyingthatpriceshaveincreased10-fold.c.2percentimplyingthatpriceshaveincreased16-fold.d.4percentimplyingthatpricesincreasedabout16-fold.ANS:DPTS:1DIF:1REF:30-1TOP:InflationrateMSC:Definitional4.Thepricelevelrisesfrom120to150.Whatwastheinflationrate?a.30%b.25%c.20%d.Noneoftheaboveiscorrect.ANS:BPTS:1DIF:1REF:30-1TOP:InflationMSC:Applicative5.Thepricelevelrisesfrom120to126.Whatistheinflationrate?a.3%b.5%c.6%d.Noneoftheaboveiscorrect.ANS:BPTS:1DIF:1REF:30-1TOP:InflationMSC:Applicative6.Whenpricesarefalling,economistssaythatthereisa.disinflation.b.deflation.c.acontraction.d.aninvertedinflation.ANS:BPTS:1DIF:1REF:30-1TOP:DeflationMSC:Definitional7.Ifthepriceindexinsomecountrywerefallingovertime,economistswouldsaythatcountryhada.disinflation.b.deflation.c.acontraction.d.aninvertedinflation.ANS:BPTS:1DIF:1REF:30-1TOP:DeflationMSC:Applicative1248Chapter30/MoneyGrowthandInflation8.Deflationa.increasestheabilitytopaydebtsandraisesthevalueofmoney.b.increasestheabilitytopaydebtsandlowersthevalueofmoney.c.reducestheabilitytopaydebtsandraisesthevalueofmoney.d.reducestheabilitytopaydebtsandlowersthevalueofmoney.ANS:CPTS:1DIF:2REF:30-1TOP:U.S.inflationMSC:Interpretive9.WhichofthefollowingstatementsaboutU.S.inflationisnotcorrect?a.LowinflationwasviewedasatriumphofPresidentCarter'seconomicpolicy.b.Therewerelongperiodsinthenineteenthcenturyduringwhichpricesfell.c.TheU.S.publichasviewedinflationofeven7percentasamajoreconomicproblem.d.TheU.S.inflationratehasvariedovertime,butinternationaldatashowsevenmorevariation.ANS:APTS:1DIF:1REF:30-1TOP:U.S.inflationMSC:Definitional10.WhichofthefollowingconcerningthehistoryofU.S.inflationisnotcorrect?a.Pricesroseatanaverageannualrateofabout4percentoverthelast70years.b.Therewasabouta16-foldincreaseinthepriceleveloverthelast70years.c.Inflationinthe1970swasbelowtheaverageoverthelast70years.d.Duringit’shistorytheUnitedStateshasexperiencedperiodsofdeflation.ANS:CPTS:1DIF:1REF:30-1TOP:U.S.inflationMSC:Definitional11.Whichofthefollowingiscorrect?a.hyperinflationisaperiodofextraordinarilyhighinflation.b.deflationisnegativeinflation,notjustadecreaseintheinflationrate.c.duringthe1990sUSinflationaveraged2%peryear.d.Alloftheabovearecorrect.ANS:DPTS:1DIF:1REF:30-1TOP:InflationMSC:Definitional12.Therewashyperinflationa.during1880-1896intheUnitedStates.b.inpost-WorldWarIGermany.c.duringthe1970sintheUnitedStates.d.Alloftheabovearecorrect.ANS:BPTS:1DIF:1REF:30-1TOP:HyperinflationMSC:Definitional13.Theclassicaltheoryofinflationa.isalsoknownasthequantitytheoryofmoney.b.wasdevelopedbysomeoftheearliesteconomicthinkers.c.isusedbymostmoderneconomiststoexplainthelong-rundeterminantsoftheinflationrate.d.Alloftheabovearecorrect.ANS:DPTS:1DIF:1REF:30-1TOP:ClassicaldichotomyMSC:Definitional14.Thequantitytheoryofmoneya.isafairlyrecentadditiontoeconomictheory.b.canexplainbothmoderateinflationandhyperinflation.c.arguesthatinflationiscausedbytoolittlemoneyintheeconomy.d.Alloftheabovearecorrect.ANS:BPTS:1DIF:1REF:30-1TOP:QuantitytheoryMSC:DefinitionalChapter30/MoneyGrowthandInflation124915.Economistsallagreethata.neitherhighinflationnormoderateinflationisverycostly.b.bothhighandmoderateinflationarequitecostly.c.highinflationiscostly,butdisagreeaboutthecostsofmoderateinflation.d.moderateinflationisascostlyashighinflation.ANS:CPTS:1DIF:1REF:30-1TOP:InflationcostsMSC:Definitional16.Asthepriceleveldecreases,thevalueofmoneya.increases,sopeoplewanttoholdmoreofit.b.increases,sopeoplewanttoholdlessofit.c.decreases,sopeoplewanttoholdmoreofit.d.decreases,sopeoplewanttoholdlessofit.ANS:BPTS:1DIF:2REF:30-1TOP:MoneydemandMSC:Definitional17.Anincreaseinthepricelevelmakesthevalueofmoneya.increase,sopeoplewanttoholdmoreofit.b.increase,sopeoplewanttoholdlessofit.c.decrease,sopeoplewanttoholdmoreofit.d.decrease,sopeoplewanttoholdlessofit.ANS:CPTS:1DIF:2REF:30-1TOP:MoneydemandMSC:Definitional18.Whenthepricelevelfalls,thenumberofdollarsneededtobuyarepresentativebasketofgoodsa.increases,sothevalueofmoneyrises.b.increases,sothevalueofmoneyfalls.c.decreases,sothevalueofmoneyrises.d.decreases,sothevalueofmoneyfalls.ANS:CPTS:1DIF:1REF:30-1TOP:ValueofmoneyMSC:Definitional19.Whenthepricelevelrises,thenumberofdollarsneededtobuyarepresentativebasketofgoodsa.increases,andsothevalueofmoneyrises.b.increases,andsothevalueofmoneyfalls.c.decreases,andsothevalueofmoneyrises.d.decreases,andsothevalueofmoneyfallsANS:BPTS:1DIF:1REF:30-1TOP:ValueofmoneyMSC:Definitional20.Thesupplyofmoneyisdeterm