答案和详解如下： 6.If the money supply increases and the price level declines, according to the quantity theory of money, velocity: A) declined and output rose, or velocity rose and output remained constant. B) remained constant and the growth rate in output fell more than enough to compensate for the decline in prices. C) declined and output rose; or velocity remained constant and the growth rate in output rose more than enough to compensate for the decline in prices. D) and output declined. The correct answer was C) MV = PY. M goes up and P goes down. So, V must go down, Y must go up; or if V is constant, Y increases more than P decreases. 7.Assume that nominal gross domestic product (GDP) is $10 trillion and the money supply is $5 trillion. What is the velocity of money? A) 5x. B) 50x. C) 15x. D) 2x. The correct answer was D) According to the quantity theory of money, velocity = GDP / money supply. Hence, V = 10 / 5 = 2x. 8.Meg Joyner has been given an assignment by her economics professor to write a paper discussing the usefulness of the quantity theory of money. Which statement in her paper is least accurate? A) Monetarists believe that the growth rate of real output should only be increased at the rate of the money supply. B) Velocity as used in the equation of exchange is the average number of times per year each dollar is used to buy goods and services. C) An increase in the money supply will lead to an increase in product prices. D) Velocity and real output change very slowly. The correct answer was A) Joyner is mistaken about the order of events. Monetarists believe that the money supply should be increased at the growth rate of real output to maintain price stability. | 
发表于 2008-5-15 13:29
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