Question 31 

Using the following hypothesis and data:

  ♣ H₀: a = b and H₁: a ≠ b 

  ♣ The critical Z-statistic is 2.58 

  ♣ The calculated Z-statistic is 4.1 

An analyst should:

A) Reject the null hypothesis and conclude that a = b.

B) Reject the alternative hypothesis and conclude that a = b.

C) Reject the null hypothesis and conclude that a is significantly different than b.

D) Fail to reject the null hypothesis and conclude that we cannot say that a is significantly different than b.

Question 32 

Shawn Choate is thinking about his graduate thesis. Still in the preliminary stage, he wants to choose a variable of study that has the most desirable statistical properties. The statistic he is presently considering has the following characteristics:

  ♣ The expected value of the sample mean is equal to the population mean. 

  ♣ The variance of the sampling distribution is smaller than that for other estimators of the parameter. 

  ♣ As the sample size increases, the standard error of the sample mean rises and the sampling distribution is centered more closely on the mean. 

Select the best choice. Choate’s estimator is:

A) unbiased, efficient, and consistent.

B) unbiased and efficient.

C) efficient and consistent.

D) unbiased and consistent.

Question 33 

An increase in the rate of the money supply growth most likely will lead to higher rates of: 

A) inflation, expected inflation and nominal interest.

B) inflation and expected inflation, and a lower nominal interest rate.

C) nominal interest, and lower rates of inflation and expected inflation.

D) inflation and nominal interest, and a lower expected inflation rate.

Question 34 

Economies and diseconomies of scale are most likely to determine the shape of the: 

A) short-run average total cost curve.

B) short-run average fixed cost curve.

C) long-run average total cost curve.

D) long-run average fixed cost curve.

Question 35 

The economy is in long-run disequilibrium with actual GDP less than potential GDP. One of the possible policy actions is to accelerate the rate of increase of the money supply to stimulate aggregate demand. Would this policy likely be recommended by Keynesian and Monetarist economists?

 Keynesians  Monetarists

A)    Yes         Yes

B)    No          Yes

C)    No          No

D)    Yes         No

答案和详解如下：

Question 31 

The correct answer was C) Reject the null hypothesis and conclude that a is significantly different than b. 

When the calculated Z > the critical Z (4.1 > 2.58), the null hypothesis should be rejected and the conclusion is made that a is not equal to b. 

This question tested from Session 3, Reading 11, LOS a, (Part 1)

Question 32 

The correct answer was B)

The estimator is unbiased because the expected value of the sample mean is equal to the population mean. The estimator is efficient because the variance of the sampling distribution is smaller than that for other estimators of the parameter.

The estimator is not consistent. To be consistent, as the sample size increases, the standard error of the sample mean should fall and the sampling distribution will be centered more closely on the mean. A consistent estimator provides a more accurate estimate of the parameter as the sample size increases. 

This question tested from Session 3, Reading 10, LOS g

Question 33 

The correct answer was A) inflation, expected inflation and nominal interest. 

Higher rates of money supply growth will lead to higher rates of inflation, higher rates of expected inflation, and higher nominal interest rates in the long run. 

This question tested from Session 6, Reading 26, LOS f

Question 34 

The correct answer was C) long-run average total cost curve. 

The long-run average total cost curve indicates economies of scale in any output range where it slopes down and diseconomies of scale in any output range where it slopes up. Short-run cost curves are drawn assuming a constant scale of production. All costs are variable in the long run, so there is no long-run average fixed cost curve. 

This question tested from Session 4, Reading 17, LOS d, (Part 2)

Question 35 

The correct answer was D) 

Yes NoExpansionary monetary policy is one of the policy alternatives Keynesians recommend for moving an economy out of recession. Monetarists, on the other hand, believe business cycles can best be stabilized by keeping money supply growth steady and predictable. 

This question tested from Session 5, Reading 23, LOS d

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