中级宏观经济学期中考试试题.doc

中级宏观经济学模拟试题中级宏观经济学模拟试题 81、 （15 points） what are GDP, nominal GDP, real GDP, Potential GDP, and what are linkages among them?2、(20 points) The following equations describe an economy.0.8(1)0.25900508000.2562.5/500Ct ytIiGLYiM P1) What are the equilibrium levels of income and the interest rate?2) Suppose government spending increases from 800 to 1000, what is the required policy mix to tackle crowding out?3、(20 points) look at the right hand side picture, and answer following questions1) What can we learn from this picture? And what is the theory underlying this phenomena?2) Based on this picture, some people argue that it is the monetary authority who produce inflation. Please comment. 3) Nowadays, the growth rate of money in China is about 30%. Some people expect that china will experience a double-digit inflation in the near future. Please comment.4、(20points) suppose that the Chinese aggregate production function is, where is education enhanced labor. Please fill in the 0.430.57()YAKHLHLblank table, and then answer the following questionsChina annual growth of GDP, fixed capital, labor, and TFP: 1990-2005Average growth of inputsPercentage shares of GDP growth attributable to periodGDPKHLTFPKHLTFP90-9511.79.11.995-008.610.51.600-059.512.61.8Source: Perkins and Rawski(2008)1) What can we learn from the above table?2) Based on the relevant theory you know, please comment on the Chinese growth pattern. 5、(25 points) consider an open economy1) Graphically derive IS curve in the four-sector economy where net export is given. 2) Suppose financial crisis took place in US, and the four-sector economy was suffering the unexpected drop in net export. Please depict the effects of this drop in IS-LM framework and AS-AD framework, respectively. 3) Explain the difference between your answers to the two frameworks.4) Is it necessary for macro policy makers to tackle the shock? If so, How to respond? And what are potential challenges that macro policy makers may encounter?。