ÔN TẬ P VĨ MÔ

CHƯƠNG 5

1. Saving equals
A. Investment plus consumption
B. Investment minus consumption
C. Disposable income minus consumption
D. Disposable income plus consumption
2. As disposable income decreases, ceteris paribus,
A. Both consumption and saving increase
B. Consumption increases and saving decreases
C. Consumption decreases and saving increases
D. Both consumption and saving decrease
3. If consumption spending increases from $358 to $367 billion when disposable
income increases from $412 to $427 billion, it can be conclude that the marginal
propensity to consume is
A. 0.4 C1= $358 C2=$367
B. 0.6 DI1=$412 DI2=427
C. 0.8 MPC=(C2-C1)/(DI2-DI1)
D. 0.9
4. If disposable income is $357 billion when the average propensity to consume is
0.8, it can be conclude that
A. The marginal propensity to consume is also 0.8 DI=$357 APC=0.8 =>
APC=C/DI
B. The marginal propensity to save is 0.2
C. Consumption is $325 billion
D. Saving is $75 billion
5. As the disposable income of the economy increases
A. Both the APC and the APS rise
B. The APC rises and the APS falls
C. The APC falls and the APS rises
D. Both the APC and the APS fall
6. The slope of the consumption schedule or line for a given economy is the
A. Marginal propensity to consume
B. Average propensity to consume
C. Marginal propensity to save
D. Average propensity to save
7. Which would increase investment demand?
A. An increase in business taxes
B. An increase in planned inventories
C. A decrease in the rate of technological change
D. An increase in the cost of acquiring capital goods
Answer question 8 and 9 on the basis of the following graph
8. This graph indicates that
A. Consumption decreases after the $60 billion level of disposable income
B. The marginal propensity to consume decreases after the $60 billion level of
disposable income
C. Consumption decreases as a percentage of disposable income as disposable income
increases
D. Consumption increases as disposable income decreases
9. If the relevant saving schedule were constructed, one would find that
A. The marginal propensity to save is negative up to the $60 billion level of disposable
income
B. The marginal propensity to save increases after the $60 billion level of disposable
income
C. Saving is zero at the $60 billion level of disposable income
D. Saving is $20 billion at the $0 level of disposable income
Answer question 10, 11, 12

DI C
$0 $4
40 40
80 76
120 112
160 148
200 184
10. If plotted on a graph, the slope of the consumption schedule would be
 A. 0.6 MPC=(40-4)/(40-0)=0.9
B. 0.7
C. 0.8
D. 0.9
11. At the $160 billion level of disposable income, the average propensity to save is
A. 0.015 DI=C+S => S=DI-C => APS=S/DI
B. 0.075
C. 0.035
D. 0.925
12. If consumption increases by $5 billion at each level of disposable income, then the
marginal propensity to consume will
A. Change, but the average propensity to consume will not change
B. Change, and the average propensity to consume will change
C. Not change, but the average propensity to consume will change
D. Not change, and the average propensity to consume will not change
13. If the slope of a linear saving schedule decreases, then it can be conclude that the
A. MPS has decreased
B. MPC has decreased
C. Income has decreased
D. Income has increased
14. An increase in wealth shifts the consumption schedule
A. Downward and the saving schedule upward
B. Upward and the saving schedule downward
C. Downward and the saving schedule downward
D. Upward and the saving schedule upward
15. Expectations of a recession are likely to lead household to
A. Increases consume and saving
B. Decrease consume and saving
C. Decrease consume and increases saving
D. Increase consume and decreases saving
16. Higher real interest rates are likely to
A. Increase consume and saving
B. Decrease consume and saving
C. Decrease consume and increases saving
D. Increase consume and decreases saving
17. An the in taxes shifts the consume schedule
A. Downward and the saving schedule upward
B. Upward and the saving schedule downward
C. Downward and the saving schedule downward
D. Upward and the saving schedule upward
18. Which relationship is an inverse one?
A. Consumption and disposable income
B. Investment spending and the rate of interest
C. Saving and disposable income
D. Investment spending and GDP
19. A decrease in investment demand would be consequence of a of decline in
A. The rate interest
 B. The level of wages paid
C. Business taxes
D. Expected future sales
20. Which best explains the variability of investment?
A. The predictable useful life of capital goods
B. Constancy or regularities in business innovations
C. Instabilities in the level of profits
D. Business pessimism about the future
21. If there was a change in investment spending of $10 and the marginal propensity
to save was 0.25, then real GDP would increase by
A. $10
B. $20 GDPr = 1/MPS
C. $25
D. $40
22. If the value of the marginal propensity to consume is 0.6 and real GDP falls by $25,
this was caused by a decrease in initial spending of
A. $10.00
B. $15.00 MPC= 0.6 => m = 1/(1-MPC) = 2.5 GDPr = -25
=>25/2.5 = -10
C. $16.67
D. $20.00
23. If there marginal propensity to consume is 0.67 and initial spending increases by
$25, real GDP will
A. Increase by $75
B. Decrease by $75 MPC=0.67 => m=1/(1-MPC) = 3.03
C. Increase by $25 increases C=$25 => GDPr = 25*3.03=75,76
D. Decrease by $25
24. If in an economy a $150 billion increase in investment spending creates $150
billion of new income in the first round of the multiplier process and $150 billion
in the second round, the multiplier and the marginal propensity to consume will
be, respectively,
A. 5.00 and 0.80 MPC=105/150=0.7
B. 4.00 and 0.75 m=1/(1-MPC)=3.33
C. 3.33 and 0.70
D. 2.50 and 0.40
25. The aggregate demand curve is the relationship between the
A. Price level and what producers will supply
B. Price level and the real domestic output purchase
C. Price level and the real domestic output produced
D. Real domestic output purchased and the real domestic output produced
26. A sharp decline in the real value of stock prices, which is independent of a change
in the price level, would best be an example of
A. The interest-rate effect
B. The foreign purchases effect
C. A change in household borrowing
D. A change in real value of factories
27. The aggregate demand curve will be increase by
 A. A decrease in the price level
B. An increase in the price level
C. A depreciation in the value of the U.S dollar
D. An increase in the excess capacity of factories
28. The aggregate supply curve is the relationship between the
A. Price level and real domestic output purchase
B. Price level and real domestic output produced
C. Price level that produced are willing to accept and the price level purchase are
willing to pay
D. Real domestic output purchase and the real domestic output produced
29. In the long run, the aggregate supply curve is
A. Up sloping
B. Down sloping
C. Vertical
D. Horizontal
30. If the price of imported resources increase, then this event would most likely
A. Decrease aggregate supply
B. Increase aggregate supply
C. Decrease aggregate demand
D. Increase aggregate demand
Suppose that real domestic output in an economy is 50 units, the quantity of
inputs is 10, and the price of each input is $2. Answer questions 31,32,33 and
34 on the basis of this information.
31. The level of productivity in this economy is
A. 5
B. 4 output/input = 50/10
C. 3
D. 2
32. The per-unit cost of production on
A. $0.40
B. $0.50 tong chi phi = 2*10 => tong chi phi/ output = 20/50
C. $2.50
D. $3.50
33. If productivity increased such that 60 units are now produced with the quantity of
input still equal to 10, then per-unit production cost would
A. Remain unchanged and aggregate supply would remain unchanged chi phi
san xuat/ dau vao = 10*2/ 60 = 0.33 => cpsx tang = sx tang => AS tang
B. Increase and aggregate supply would decrease
C. Decrease and aggregate supply would increase
D. Decrease and aggregate supply would decrease
34. All else equal, if the price of each input increased from $2 to $4, productivity would
A. Decrease from $4 to $2 and aggregate supply would decrease
dau ra/ dau vao =50/10 cpsx=10*4=40
B. Decrease from $5 to $3 and aggregate supply would decrease
cpsx/dau ra = 40/50 hieu suat =5 k doi => cpsx tang => sx giam =>AS giam
C. Decrease from $4 to $2 and aggregate supply would increase
D. Remain unchanged and aggregate supply would decrease
35. If congress passed much stricter laws to control the air pollution from business,
this action would tend to
A. Increase per-unit production costs and shift the aggregate supply curve to the right
B. Increase per-unit production costs and shift the aggregate supply curve to the left
C. Increase per-unit production costs and shift the aggregate demand curve to the left
D. Decrease per-unit production costs and shift the aggregate supply curve to the left
36. An increase in business taxes will tend to
A. Decrease aggregate demand but not change aggregate supply
B. Decrease aggregate supply but not change aggregate demand
C. Decrease aggregate demand and decrease aggregate supply
D. Decrease aggregate supply and increase aggregate demand
Answer question 37,38, and 39 on the basis of the following aggregate demand –
aggregate supply schedule for a hypothetical economy

Real domestic output Price level Real domestic output

demanded ( in billion) supplied
( in billion )
$1500 175 $4500
$2000 150 $4000
$2500 125 $3500
$3000 100 $3000
$3500 75 $2500
$4000 50 $2000
37. The equilibrium price level and quantity of real domestic output will be
A. 100 and $2500
B. 100 and $3000
C. 125 and $3500
D. 150 and $4000
38. If the quantity of real domestic output demanded increased by $2000 at each price
level, the new equilibrium price level and quantity of real domestic output would
be
A. 175 and $4000
B. 150 and $4000
C. 125 and $3500
D. 100 and $3000
39. Using the original data from the table, if the quantity of real domestic output
demanded increase by $1500 and the quantity of real domestic output supply
increase by $500 at each price level, the new equilibrium price level and quantity
of real domestic output would be
A. 175 and $4000
B. 150 and $4500
C. 125 and $4000
D. 100 and $3500
40. If there were cost – push inflation
A. Both the real domestic output and the price level would decrease
B. The real domestic output would increase and rises in the price level would become
smaller
C. The real domestic output would decrease and the price level would rise
 D. Both the real domestic output and rises in the price level would become greater
41. An increase in aggregate supply will
A. Increase the price level and real domestic output
B. Decrease the price level and real domestic output
C. Decrease the price level and increase real domestic output
D. Decrease the price level and have no effect on real domestic output
42. Which combination of policies would be the most expansionary?
A. An increase in government spending and taxes
B. An decrease in government spending and taxes
C. An increase in government spending and decrease in taxes
D. An decrease in government spending and increase taxes
43. An economy is in a recession and the Government decides to increase spending by
$4 billion. The MPC is 0.8. what would be the change in government spending?
A. $3.2 billion
B. $4 billion
C. $16 billion delta C= -4 MPC =0.8 =>
m=1/(1-MPC)= 5 => delta GDP (AD) =m*delta C= -4*5=-20 => decrease by 20
D. $20 billion
44. Which combination of fiscal policies would be the most contractionary?
A. An increase in government spending and taxes
B. A decrease in government spending and taxes
C. An increase in government spending and a decrease in taxes
D. A decrease in government spending and an increase taxes

CHƯƠNG 6
1. Which one is an economy function of money?
A. A store of gold
B. A unt of account
C. A factor of production
D. A medium of communications
2. Each month Marti plus a certain percentage of her income in a bank account that
she plans to use in the future to purchase a car. For Marti, the money saved in the
bank account is primarily functioning as
A. Legal tender
B. Token money
C. Store of value
D. Medium of exchange
3. Which one of the following items would be considered to be perfectly liquid from
an economic perspective?
A. Cash
B. Stocks
C. Real estate
D. Certificate of deposits
4. Which one of the following is included in currency componet of M1?
A. Gold certificate
B. Sliver certificate
 C. Checkable deposits
D. Federal Reserve Notes
5. Checkable deposits are money because they are
A. Legal tender
B. Fiat money
C. Token money
D. A medium of exchange
6. High rates of inflation in an economy will
A. Increase the purchase power of money
B. Decrease the conversion of money to gold
C. Increase the use of money as a measure of value
D. Decrease the use of money as a medium of exchange
7. To keep the purchasing power of money fairly stable, the Federal Reserve
A. Buys corporate stock
B. Employs fiscal policy
C. Controls the money supply
D. Uses price and wage controls
8. If the required reserve ratio were 12.5%, the value of the monetary multiplier
would be
A. 5 m=1/12.5%
B. 6
C. 7
D. 8
9. The commercial banking system has excess reserves of $700, makes new loans of
$2100, and is just meeting its reserve requirements. The required reserve ratio is
A. 20% doanh thu vuot muc : 700
B. 25% khoan vay moi :2100 => m =
2100/700=3 => rr = 1/m *100 = 1/3 *100 = 33.33%
C. 30%
D. 33.33%
10. The commercial banking system, because of a recent change in the required
reserve ratio from 20% to 30% finds that it is $60 million short of reserve. If it is
unable to obtain any addition reserve it must decrease the money supply by
A. $60 million rr = 30% => m = 1/30%= 3.3
B. $180 million thieu hut du tru = 60 => (-60)*3.3= -200
C. $200 million
D. $300 million
11. The organization directly responsible for monetary policy in the United States is
the
A. U.S Treasury
B. Federal Reserve
C. Internal Revenue Service
D. Congress of the United States
12. If the dollar held for transactions purpose are, on the average, spent five times a
year for final goods and services, then the quantity of money people will wish to
hold for transactions is equal to
A. Five times the nominal GDP
 B. 20% of the nominal GDP
C. Five divided by the nominal GDP
D. 20% divided by the nominal GDP
13. There is an asset demand for money because money is
A. A store of value
B. A measure of value
C. A medium of exchange
D. A standard of deferred payment
14. An increase in the rate of interest would increase
A. The opportunity cost of holding money
B. The transactions demand for money
C. The asset demand for money
D. The prices of bonds
Use the following information and table below to answer Question 15 and 16.
Suppose the transactions demand for money equal to 10% of the nominal GDP, the
supply of money is $450 billion, and the asset demand for money is that shown in
the table.

Interest Rate Asset demand ( billion )

14% $100
13 150
12 200
11 250
15. If the nominal GDP is $3000 billion, the equilibrium interest rate is
A. 14% GDP =300 Dt=10%*3000 =300 MS=450 => MS= Dt
+Da => Da=MS-Dt=150
B. 13%
C. 12%
D. 11%
16. If the nominal GDP remains constant at $3000 billion an increase in the money
supply from $450 billion to $500 billion would cause the equilibrium interest rate
to
A. Rise to 14% MS=Dt+Da => 500=300+Da => Da=200 => I =12%
B. Fall to 11%
C. Fall to 12%
D. Remain unchanged
17. The total quantity of money demanded is
A. Directly related to nominal GDP and the rate of interest
B. Directly related to nominal GDP and the inversely related to the rate of interest
C. Inversely related to nominal GDP and directly related to the rate of interest
D. Inversely related to nominal GDP and the rate of interest
18. The stock of money is determined by the Federal Reserve System and does not
change when the interest rate changes; therefore the
A. Supply of money curve is downward sloping
B. Demand for money curve is downward sloping
C. Supply of money curve is upward sloping
D. Supply of money curve is vertical
19. Which one of the following points would be true?
 A. Bond prices and the interest rate are directly related
B. A lower interest rate raises the opportunity cost of holding money
C. The supply of money is directly related to the interest rate
D. The total demand for money is inversely related to the interest rate
20. Assuming that the Federal Reserve Banks sell $20 million in government securities
to commercial banks and the reserve ratio is 20%, then the effect will be
A. To reduce the actual supply of money by $20 million
B. To reduce the actual supply of money by $4 million
C. To reduce the potential money supply by $20 million
D. To reduce the potential money supply by $100 million
21. Lowering the reserve ratio
A. Changes required reserves to excess reserves
B. Increases the amount of excess reserves banks must keep
C. Increase the discount rate
D. Decrease the discount rate
22. Commercial bank borrowing from the Federal Reserve
A. Is not permitted because of the Federal Reserve act
B. Is permitted but only for banks that are bankrupt
C. Decreases the excess reserves of commercial banks and their ability to offer credit
D. Increase the excess reserves of commercial banks and their ability to offer credit
23. When the Federal Reserve Banks decide to buy government bonds from banks and
the public, the supply of reserves in the Federal funds market
A. Increases and the Federal funds rate decreases
B. Decreases and the Federal funds rate decreases
C. Increases and the Federal funds rate increases
D. Decreases and the Federal funds rate decreases
24. When the Federal Reserve Banks uses open – market operations to reduce the
Federal funds rate several times over a year it is pursuing
A. An expansionary monetary policy
B. A restrictive monetary policy
C. A prime interest rate policy
D. A discretionary fiscal policy
25. The economy is experiencing inflation and the Federal Reserve decides to pursue a
restrictive monetary policy. Which set of actions by the Fed would be most
consistent with this policy?
A. Buying government securities and lowering the discount rate
B. Buying government securities and lowering the reserve ratio
C. Selling government securities and raising the discount rate
D. Selling government securities and lowering the discount rate
26. The economy is experiencing high unemployment and a low rate of economic
growth and the Fed decides to purchase an expansionary monetary policy. Which
set of actions by the Fed would be most consistent with this policy?
A. Buying government securities and raising the reserve ratio
B. Selling government securities and raising the discount rate
C. Buying government securities and lowering the reserve ratio
D. Selling government securities and lowering the discount rate
27. In the chain of cause and effect between changes in the excess reserve of
commercial banks and the resulting changes in output and employment in the
economy,
A. An increase in excess reserves will decrease the money supply
B. A decrease in the money supply will increase the rate of interest
C. An increase in the rate of interest will increase aggregate demand
D. An increase in aggregate demand will decrease output and employment
28. Which is most likely to be affected by changes in the rate of interest?
A. Tax rates
B. Investment spending
C. Government spending
D. The imports of the economy
29. A restrictive monetary policy would be most consistent with
A. A decrease in the Federal funds rate and a decrease in the money supply
B. A decrease in the Federal funds rate and an increase in the money supply
C. An increase in the Federal funds rate and a decrease in the money supply
D. An increase in the Federal funds rate and an increase in the money supply
30. Assume that monetary policy increase interest rate and results in a decrease in
investment spending of $5 billion. If the marginal propensity to consume is 0.80,
then aggregate demand is most likely to
A. Increase by $5 billion MPC=0.8 => m=1/(1-MPC) = 1/(1-
0.8)=5 denta I = -5 denta D = -5*5 = 25
B. Decrease by $5 billion
C. Increase by $25 billion
D. Decrease by $25 billon
31. The Federal Reserve is responsible for
A. Supervising all banks and thrifts
B. Printing currency for banks and thrifts
C. Collecting federal taxes from banks and thrifts
D. Holding the required reserve of banks and thrifts
32. The most important function of the Federal Reserve is
A. Issuing currency
B. Controlling the money supply
C. Supervising banks and thrifts
D. Lending money to banks and thrifts
CHƯƠNG 7
1. The data in the table show that production in
A. Both Nepal and Kashmir are subject to increasing opportunity costs
B. Both Nepal and Kashmir are subject to constant opportunity costs
C. Nepal is subject to increasing opportunity costs and Kashmir to constant
opportunity costs
D. Kashmir is subject to increasing opportunity costs and Nepal to constant
opportunity costs
2. If Nepal and Kashmir engage in trade, the terms of trade will be
A. Between 2 and 4 camel hides for 1 unit of yak fat
B. Between 1/3 and 1/2 units of yak fat for 1 camel hide
 C. Between 3 and 4 units of yak fat for 1 camel hide
D. Between 2 and 4 units of yak fat for 1 camel hide
3. Assume that prior to specialization and trade Nepal and Kashmir both choose
production possibility C. Now if each specializes according to its comparative
advantage, the resulting gains from specialization and trade will be
A. 6 units of yak fat
B. 8 units of yak fat
C. 6 units of yak fat and 8 of camel hides
D. 8 units of yak fat and 6 camel hides
4. Each nation produced only one product in accordance with its comparative
advantage, and the terms of trade were set at 3 camel hides for 1 unit of yak fat. In
this case, Nepal could obtain a maximum combination of 8 units of yak fat and
A. 12 camel hides
B. 24 camel hides
C. 36 camel hides
D. 48 camel hides
5. What happen to a nation’s import or export of a product when the world price of
the product rises above the domestic price?
A. Imports of the product increase
B. Imports of the product stay the same
C. Export of the product increase
D. Export of the product decrease
6. What happen to a nation’s imports or exports of a product when the world price of
the product falls bellow the domestic price?
A. Imports of the product increase
B. Imports of the product decrease
C. Export of the product increase
D. Export of the product stay the same
7. Which one of the following is characteristic of tariffs?
A. The prevent the importation of goods from abroad
B. The specify the maximum amounts of specific commodities that may be imported
during a given period of time
C. They often protect domestic producers from foreign competition
D. They enable nations to reduce their export and increase their imports during
periods of recession
8. The movie for barrier to the importation of goods and services from aboard is to
A. Improve economic efficiency in that nation
B. Protect and benefit domestic producers of those goods and service
C. Reduce the prices of the good and services produced in that nation
D. Expand the export of goods and services to foreign nations
9. When a tariff is imposed on a good imported from aboard,
A. The demand for the good increase
B. The demand for the good decrease
C. The supply of the good increase
D. The supply of the good decrease
10. Tariffs and quotas are costly to consumes because
A. The price of the imported good rises
 B. The supply of the imported good increases
C. Import competition increase for domestically produced goods
D. Consumers shift purchase away from domestically produced goods
CHƯƠNG 8
1. If a U.S citizen could buy $ 25000 for $ 100000, the rate of exchange for the pound
would be
A. $40
B. $25
C. $4
D. $25
2. U.S residents demand foreign currencies to
A. Produce goods and service exported to foreign countries
B. Pay for goods and service imported from foreign countries
C. Receive interest payments on investments in the United States
D. Have foreign make real and financial investment in the United States
3. A nation’s balance on the current account is equal to its exports less its imports of
A. Goods and service
B. Goods and service, plus U.S purchases of assets abroad
C. Goods and service, plus net investment income and net transfers
D. Goods and service, minus foreign purchases of assets in the United States
Answer Question 4,5 and 6

(1) U.S goods exports $+1149

(2) U.S goods imports -1965
(3) U.S service exports +479
(4) U.S service imports -372
(5) Net investment income +74
(6) Net transfers -104
(7) Balance on capital account -2
(8) Foreign purchase of U.S assets +1905
(9) U.S purchase of foreign assets -1164

4. The balance on goods and service was a deficit of

A. $107 billion (1)+(2)+(3)+(4)
B. $709 billion
C. $816 billion
D. $935 billion
5. The balance on the capital account was a
A. Surplus of $739 billion [(1)+(2)]+[(3)+(4)]+[(5)+(6)]
B. Deficit of $739 billion
C. Surplus of $816 billion
D. Deficit of $816 billion
6. The balance on the financial account was a
A. Deficit of $372 billion
B. Surplus of $479 billion (8)+(9)
C. Deficit of $739 billion
D. Surplus of $741 billion
7. Which statement is correct about a factor that causes a nation’s currency to
appreciate or depreciate in value?
A. If the supply of a nation’s currency decreases, all else equal, that currency will
depreciate
B. If the supply of a nation’s currency increases, all else equal, that currency will
depreciate
C. If the demand for a nation’s currency increases, all else equal, that currency will
depreciate
D. If the demand for a nation’s currency decreases, all else equal, that currency will
appreciate
8. Assuming exchange rates are flexible, which of the following should increases the
dollar price of the Swedish krona?
A. A rate of inflation greater in Sweden than in the United States
B. Real interest rate increases greater in Sweden than in the United States
C. National income increases greater in Sweden than in the United States
D. The increase preference of Swedish citizens for U.S automobiles over Swedish
automobiles
9. Under a flexible-exchange-rate system, a nation may be able to correct or
eliminate a persistent (long-term) balance-of-payments deficit by
A. Lowering the barriers on imported good
B. Reducing the international value of its currency
C. Expanding its national income
D. Reducing its official reserves