题目内容

If the reserve ratio is 10 percent, banks do not hold excess reserves and people hold only deposits and not currency, when the central bank sells $10 million dollars of bonds to the public, bank reserves ()

A. increase by $1 million and the money supply eventually increases by $10 million.
B. increase by $10 million and the money supply eventually increases by $100 million.
C. decrease by $1 million and the money supply eventually increases by $10 million.
D. decrease by $10 million and the money supply eventually decreases by $100 million.

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Suppose that 25 years ago a country had nominal GDP of $1,000, a GDP deflator of 200, and a population of 100. Today it has nominal GDP of $3,000, a GDP deflator of 400, and population of 150. What happened to the real GDP per person? ()

A. It more than doubled.
B. It increased, but it less than doubled.
C. It was unchanged.
D. It decreased.

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Suppose GDP consists of wheat and rice. In 2005, 20 bushels of wheat are sold at $4 per bushel, and 10 bushels of rice are sold at $2 per bushel. In 2004, the price of wheat was $2 per bushel and the price of rice was $1 per bushel. Using 2004 as the base year, it follows that, for 2005, ()

A. nominal GDP is $100, real GDP is $50, and the GDP deflator is 50.
B. nominal GDP is $50, real GDP is $100, and the GDP deflator is 200.
C. nominal GDP is $100, real GDP is $50, and the GDP deflator is 200.
D. nominal GDP is $40, real GDP is $100, and the GDP deflator is 50.

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Laura bought word-processing software in 2005 for $50. Laura's twin brother, Laurence, buys an upgrade of the same software in 2006 for $50. What problem in the construction of the CPI does this situation best represent? ()

A. substitution bias
B. unmeasured quality change
C. introduction of new goods
D. income bias

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Samantha goes to the grocery store to make her monthly purchase of ginger ale. As she enters the soft drink section, she notices that the price of ginger ale has increased 15 percent, so she decides to buy some peppermint tea instead. To which problem in the construction of the CPI is this situation most relevant? ()

A. substitution bias
B. introduction of new goods
C. unmeasured quality change
D. income effect

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