5学原理（宏观）第五版测试题库(25)

Chapter 25 /Production and Growth ? 1727

36. Real GDP per person is $30,000 in Country A, $20,000 in Country B, and $11,000 in Country C. Saving per

person is $1,000 in all three countries. Other things equal, we would expect that a. all three countries will grow at the same rate. b. Country A will grow the fastest. c. Country B will grow the fastest. d. Country C will grow the fastest.

ANS: D

NAT: Analytic MSC: Applicative

DIF: 2 REF: 25-3 LOC: Productivity and growth TOP:

Catch-up effect

37. Other things the same, if a country increased its saving rate, in 40 years or so it would likely have

a. higher productivity, and a higher growth rate of real GDP. b. higher productivity, but not a higher growth rate of real GDP. c. the same productivity and growth of real GDP it began with. d. None of the above is correct.

ANS: B

NAT: Analytic MSC: Interpretive

DIF: 2 REF: 25-3 LOC: Productivity and growth TOP:

Saving

38. Which of the following best describes the response of output as time passes to an increase in the saving rate?

a. The growth rate of output does not change.

b. The growth rate of output increases and gets even larger as time passes. c. The growth rate of output increases and does not change as time passes.

d. The growth rate of output increases, but diminishes to its former level as time passes.

ANS: D

NAT: Analytic MSC: Interpretive

DIF: 2 REF: 25-3 LOC: Productivity and growth TOP:

Saving | Diminishing returns

39. An increase in the saving rate would, other things the same,

a. increase growth more for a poor country than for a rich country, and raise growth permanently. b. increase growth more for a poor country than for a rich country, but raise growth temporarily. c. increase growth more for a rich country than for a poor country, and raise growth permanently. d. increase growth more for a rich country than for a poor country, but raise growth temporarily.

ANS: B

NAT: Analytic MSC: Applicative

DIF: 3 REF: 25-3 LOC: Productivity and growth TOP:

Catch-up effect

40. Consider three imaginary countries. In Old York, saving amounts to $3,000 and consumption amounts to

$7,000; in New Frank, saving amounts to $2,000 and consumption amounts to $8,000; and in Ganzee, saving amounts to $4,500 and consumption amounts to $10,500. The saving rate is

a. higher in Old York than in Ganzee, and it is higher in Ganzee than in New Frank. b. higher in New Frank than in Ganzee, and it is higher in Ganzee than in Old York. c. higher in Ganzee than in New Frank, and it is the same in New Frank and Old York. d. higher in Old York than in New Frank, and it is the same in Old York and Ganzee.

ANS: D

NAT: Analytic MSC: Applicative

DIF: 2 REF: 25-3 LOC: Productivity and growth TOP:

Saving

1728 ? Chapter 25 /Production and Growth

41. The traditional view of the production process is that capital is subject to

a. diminishing returns, so that other things the same, real GDP in poor countries should grow at a

faster rate than in rich countries.

b. diminishing returns, so that other things the same, real GDP in poor countries should grow at a

slower rate than in rich countries.

c. increasing returns, so that other things the same, real GDP in poor countries should grow at a faster

rate than in rich countries.

d. increasing returns, so that other things the same, real GDP in poor countries should grow at a

slower rate than in rich countries.

ANS: A DIF: 2 REF: 25-3 NAT: Analytic LOC: Productivity and growth TOP: Catch-up effect | Diminishing returns

MSC: Applicative

42. The traditional view that the production process has diminishing returns implies that

a. the increase in output growth from an increase in the saving rate rises over time, and that, other

things the same, rich countries should grow faster than poor ones.

b. the increase in output growth from an increase in the saving rate falls over time, and that, other

things the same, rich countries should grow faster than poor ones.

c. the increase in output growth from an increase in the saving rate rises over time, and that, other

things the same, poor countries should grow faster than rich ones.

d. the increase in output growth from an increase in the saving rate falls over time, and that, other

things the same, poor countries should grow faster than rich ones.

ANS: D DIF: 2 REF: 25-3 NAT: Analytic LOC: Productivity and growth TOP: Diminishing returns | Catch-up effect

MSC: Applicative

43. On a production function, as capital per worker increases, output per worker

a. increases. This increase is larger at larger values of capital per worker. b. increases. This increase is smaller at larger values of capital per worker. c. decreases. This decrease is larger at larger value of capital per worker. d. decreases. This decrease is smaller at larger value of capital per worker.

ANS: B DIF: 2 REF: 25-3 NAT: Analytic LOC: Productivity and growth TOP: Production function | Diminishing returns

MSC: Interpretive

44. The slope of the production function with capital per worker on the horizontal axis and output per worker on

the vertical axis

a. is positive and gets steeper as capital per worker rises. b. is positive and gets flatter as capital per worker rises. c. is negative and gets steeper as capital per worker rises. d. is negative and gets flatter as capital per worker rises.

ANS: B DIF: 2 REF: 25-3 NAT: Analytic LOC: Productivity and growth TOP: Production function | Diminishing returns

MSC: Interpretive

45. The catch-up effect refers to the idea that

a. saving will always catch-up with investment spending.

b. it is easier for a country to grow fast and so catch-up if it starts out relatively poor. c. population eventually catches-up with increased output.

d. if investment spending is low, increased saving will help investment to \

ANS: B

NAT: Analytic MSC: Definitional

DIF: 1 REF: 25-3 LOC: Productivity and growth TOP:

Catch-up effect

Chapter 25 /Production and Growth ? 1729

46. The logic behind the catch-up effect is that

a. workers in countries with low incomes will work more hours than workers in countries with high

incomes.

b. the capital stock in rich countries deteriorates at a higher rate because it already has a lot of capital. c. new capital adds more to production in a country that doesn't have much capital than in a country

that already has much capital. d. None of the above is correct.

ANS: C

NAT: Analytic MSC: Interpretive

DIF: 2 REF: 25-3 LOC: Productivity and growth TOP:

Catch-up effect

47. Which of the following countries benefited significantly from the catch-up effect in the last half of the

twentieth century? a. Ethiopia

b. the United States c. Canada d. South Korea

ANS: D

NAT: Analytic MSC: Definitional

DIF: 1 REF: 25-3 LOC: Productivity and growth TOP:

Catch-up effect

48. Which of the following is consistent with the catch-up effect?

a. The United States had a higher growth rate before 1900 than after.

b. After World War II the United States had lower growth rates than war-ravaged European countries. c. Although the United States has a relatively high level of output per person, its growth rate is rather

modest compared to some countries. d. All of the above are correct.

ANS: D

NAT: Analytic MSC: Applicative

DIF: 2 REF: 25-3 LOC: Productivity and growth TOP:

Catch-up effect

49. Over the period 1960-1991,

a. South Korea had a higher growth rate than the United States because it had a higher ratio of

investment to GDP.

b. the United States had a higher growth rate than South Korea because it had a higher ratio of

investment to GDP.

c. South Korea had a higher growth rate than the United States even though it had a similar ratio of

investment to GDP.

d. the United States had a higher growth rate than South Korea even though it had a similar ratio of

investment to real GDP.

ANS: C

NAT: Analytic MSC: Interpretive

DIF: 2 REF: 25-3 LOC: Productivity and growth TOP:

Catch-up effect

50. Lower Equitorial and Upper Equitorial are the same except Lower Equitorial has a larger capital stock. Both

countries undertake policies that raise their saving rates to the same higher level. We would expect that a. both countries would have permanent increases in their growth rates, but the increase would

initially be larger in Lower Equitorial.

b. both countries would have permanent increases in their growth rates, but the increase would

initially be smaller in Upper Equitorial.

c. both countries would have temporary increases in their growth rates, but the increase would be

larger in Lower Equitorial.

d. both countries would have temporary increases in their growth rates, but the increase would be

smaller in Lower Equitorial.

ANS: D

NAT: Analytic MSC: Applicative

DIF: 2 REF: 25-3 LOC: Productivity and growth TOP:

Catch-up effect

1730 ? Chapter 25 /Production and Growth

51. If an American-based firm opens and operates a new watch factory in Panama, then it is engaging in

a. foreign portfolio investment. b. foreign financial investment. c. foreign direct investment. d. indirect foreign investment.

ANS: C

NAT: Analytic MSC: Definitional

DIF: 1 REF: 25-3 LOC: International trade and finance

TOP: Foreign investment

52. In the 1800s, Europeans purchased stock in American companies that used the funds to build railroads and

factories. The Europeans who did this engaged in a. foreign portfolio investment. b. indirect domestic investment. c. foreign direct investment. d. foreign indirect investment.

ANS: A DIF: 1 REF: 25-3 NAT: Analytic LOC: International trade and finance TOP: Foreign investment | Economic growth MSC:

Definitional

53. Suppose that an American opens and operates a candy factory in Finland. This is an example of

a. foreign direct investment. American saving is used to finance Finish investment. b. foreign direct investment. American saving is used to finance American investment. c. foreign portfolio investment. American saving is used to finance Finish investment. d. foreign portfolio investment. American saving is used to finance American investment.

ANS: A

NAT: Analytic MSC: Definitional

DIF: 1 REF: 25-3 LOC: International trade and finance

TOP: Foreign investment

54. Foreign saving is used for domestic investment when foreigners engage in

a. foreign direct investment. b. foreign portfolio investment.

c. either foreign direct investment or foreign portfolio investment. d. None of the above is correct.

ANS: C

NAT: Analytic MSC: Interpretive

DIF: 1 REF: 25-3 LOC: International trade and finance

TOP: Foreign investment

55. Suppose U.S.-based Intel Corporation builds and operates a new computer chip factory in Honduras. Future

production from such an investment would

a. increase Honduran GDP more than it would increase Honduran GNP. b. increase Honduran GNP more than it would increase Honduran GDP. c. not affect Honduran GNP, but would increase Honduran GDP. d. have no affect on either Honduran GDP or GNP.

ANS: NAT: TOP: MSC: A DIF: 2 REF: 25-3 Analytic LOC: International trade and finance Foreign investment | Gross domestic product | Gross national product Applicative

56. Suppose Japanese-based Sony Corporation builds and operates a new digital camera factory in the United

States. Future production from such an investment would

a. increase U.S. GNP more than it would increase U.S. GDP. b. increase U.S. GDP more than it would increase U.S. GNP. c. not affect U.S. GNP, but would increase U.S. GDP. d. have no affect on U.S. GNP or GDP.

ANS: NAT: TOP: MSC: B DIF: 2 REF: 25-3 Analytic LOC: International trade and finance Foreign investment | Gross domestic product | Gross national product Applicative