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  • 1.[单选题] 纠错 收藏 提问 移除
    Deep River Manufacturing is one of many companies in an industry that make a food product. Deep River units are identical up to the point they are labeled. Deep River produces its labeled brand, which sells for $2.20 per unit, and “house brands” for seven different grocery chains which sell for $2.00 per unit. Each grocery chain sells both the Deep River brand and its house brand. The best characterization of Deep River’s market is:
    A

    oligopoly.

    B

    perfect competition.

    C

    monopolistic competition.

  • 2.[单选题] 纠错 收藏 提问 移除

    The component least likely to be included in a measurement of gross domestic product (GDP) is:

    A

    the value of owner occupied rent.

    B

    the annual salary of a local police officer.

    C

    environmental damage caused by production.

  • 3.[单选题] 纠错 收藏 提问 移除
    Which of the following conditions is least likely to increase a country’s GDP?
    A

    An increase in net exports.

    B

    Increased investment in capital goods.

    C

    Increased government transfer payments.

  • 4.[单选题] 纠错 收藏 提问 移除

    Which of the following would be included in Canadian GDP for a given year? The market value of:

    A

    wine grown in Canada by US citizens.

    B

    electronics made in Japan and sold in Canada.

    C

    movies produced outside Canada by Canadian film makers.

  • 5.[单选题] 纠错 收藏 提问 移除

    The most accurate description of nominal GDP is:

    A

    a measure of total expenditures at current prices.

    B

    the value of goods and services at constant prices.

    C

    a measure to compare one nation's economy to another.

  • 6.[单选题] 纠错 收藏 提问 移除
    From the beginning to the ending years of a decade, the annual value of final goods and services for country X increased from €100 billion to €300 billion. Over that time period, the GDP deflator increased from 111 to 200. Over the decade, real GDP for country X increased by approximately:
    A

    50%.

    B

    67%.

    C

    200%.

  • 7.[单选题] 纠错 收藏 提问 移除

    The numerator of the GDP price deflator reflects:

    A

    the value of base year output at current prices.

    B

    the value of current year output at current prices.

    C

    the value of current year output at base year prices.

  • 8.[单选题] 纠错 收藏 提问 移除

    Consider the following data for 2010 for a hypothetical country:image.pngBased only on the data given, the gross domestic product and national income are respectively closest to:

    A

    21.1 and 20.6.

    B

    22.6 and 21.1.

    C

    22.8 and 20.8.

  • 9.[单选题] 纠错 收藏 提问 移除

    Equality between aggregate expenditure and aggregate output implies that the government’s fiscal deficit must equal:

    A

    Private saving – Investment – Net exports.

    B

    Private saving – Investment + Net exports.

    C

    Investment – Private saving + Net exports.

  • 10.[单选题] 纠错 收藏 提问 移除

    Because of a sharp decline in real estate values, the household sector has increased the fraction of disposable income that it saves. If output and investment spending remain unchanged, which of the following is most likely?

    A

    A decrease in the government deficit.

    B

    A decrease in net exports and increased capital inflow.

    C

    An increase in net exports and increased capital outflow.

  • 11.[单选题] 纠错 收藏 提问 移除

    Which curve represents combinations of income and the real interest rate at which planned expenditure equals income?

    A

    The IS curve.

    B

    The LM curve.

    C

    The aggregate demand curve.

  • 12.[单选题] 纠错 收藏 提问 移除
    An increase in government spending would shift the:
    A

    IS curve and the LM curve.

    B

    IS curve and the aggregate demand curve.

    C

    LM curve and the aggregate demand curve.

  • 13.[单选题] 纠错 收藏 提问 移除

    An increase in the price level would shift the:

    A

    IS curve.

    B

    LM curve.

    C

    aggregate demand curve.

  • 14.[单选题] 纠错 收藏 提问 移除
    As the price level declines along the aggregate demand curve, the interest rate is most likely to:
    A

    decline.

    B

    increase.

    C

    remain unchanged.

  • 15.[单选题] 纠错 收藏 提问 移除
    The full employment, or natural, level of output is best described as:
    A

    the maximum level obtainable with existing resources.

    B

    the level at which all available workers have jobs consistent with their skills.

    C

    a level with a modest, stable pool of unemployed workers transitioning to new jobs.

  • 16.[单选题] 纠错 收藏 提问 移除
    Which of the following best describes the aggregate supply curve in the short-run (e.g., 1 to 2 years)? The short run aggregate supply curve is:
    A

    flat because output is more flexible than prices in the short run.

    B

    vertical because wages and other input prices fully adjust to the price level.

    C

    upward sloping because input prices do not fully adjust to the price level in the short run.

  • 17.[单选题] 纠错 收藏 提问 移除

    If wages were automatically adjusted for changes in the price level, the short-run aggregate supply curve would most likely be:

    A

    flatter.

    B

    steeper.

    C

    unchanged.

  • 18.[单选题] 纠错 收藏 提问 移除
    Increased household wealth will most likely cause an increase in:
    A

    household saving.

    B

    investment expenditures.

    C

    consumption expenditures.

  • 19.[单选题] 纠错 收藏 提问 移除
    In the neoclassical or Solow growth model, an increase in total factor productivity reflects an increase in:
    A

    returns to scale.

    B

    output for given inputs.

    C

    the sustainable growth rate.

  • 20.[单选题] 纠错 收藏 提问 移除
    The coefficient on the growth rate of labor (0.72) in this equation is best interpreted as:
    A

    the labor force participation rate.

    B

    the marginal productivity of labor.

    C

    the share of income earned by labor.

  • 21.[单选题] 纠错 收藏 提问 移除

    The characteristic business cycle patterns of trough, expansion, peak, and contraction are:

    A

    periodic.

    B

    recurrent.

    C

    of similar duration.

  • 22.[单选题] 纠错 收藏 提问 移除

    During the contraction phase of a business cycle, it is most likely that:

    A

    inflation indicators are stable.

    B

    aggregate economic activity is decreasing.

    C

    investor preference for government securities declines.

  • 23.[单选题] 纠错 收藏 提问 移除
    An economic peak is most closely associated with:
    A

    accelerating inflation.

    B

    stable unemployment.

    C

    declining capital spending.

  • 24.[单选题] 纠错 收藏 提问 移除
    Based on typical labor utilization patterns across the business cycle, productivity (output per hours worked) is most likely to be highest:
    A

    at the peak of a boom.

    B

    into a maturing expansion

    C

    at the bottom of a recession.

  • 25.[单选题] 纠错 收藏 提问 移除
    As the expansion phase of the business cycle advances from early stage to late stage, businesses most likely experience a decrease in:
    A

    labor costs.

    B

    capital investment.

    C

    availability of qualified workers.

  • 26.[单选题] 纠错 收藏 提问 移除
    An analyst writes in an economic report that the current phase of the business cycle is characterized by accelerating inflationary pressures and borrowing by companies. The analyst is most likely referring to the:
    A

    peak of the business cycle.

    B

    contraction phase of the business cycle.

    C

    early expansion phase of the business cycle.

  • 27.[单选题] 纠错 收藏 提问 移除
    In a recession, companies are most likely to adjust their stock of physical capital by:
    A

    selling it at fire sale prices.

    B

    not maintaining equipment.

    C

    quickly canceling orders for new construction equipment.

  • 28.[单选题] 纠错 收藏 提问 移除
    The inventory/sales ratio is most likely to be rising:
    A

    as a contraction unfolds.

    B

    partially into a recovery.

    C

    near the top of an economic cycle.

  • 29.[单选题] 纠错 收藏 提问 移除
    The Austrian economic school attributes the primary cause of the business cycle to:
    A

    misguided government intervention.

    B

    the creative destruction of technological progress.

    C

    sticky price and wage expectations that exaggerate trends.

  • 30.[单选题] 纠错 收藏 提问 移除
    A decrease in a country’s total imports is most likely caused by:
    A

    an increase in the pace of domestic GDP growth.

    B

    a cyclical downturn in the economies of primary trading partners.

    C

    persistent currency depreciation relative to primary trading partners.

  • 31.[单选题] 纠错 收藏 提问 移除
    Monetarists favor a limited role for the government because they argue:
    A

    government policy responses may lag.

    B

    firms take time to adjust to systemic shocks to the economy.

    C

    resource use is efficient with marginal revenue and cost equal.

  • 32.[单选题] 纠错 收藏 提问 移除
    The discouraged worker category is defined to include people who:
    A

    are overqualified for their job.

    B

    could look for a job but choose not to.

    C

    currently look for work without finding it.

  • 33.[单选题] 纠错 收藏 提问 移除

    According to the Austrian school, the most appropriate government response to an economic recession is to:

    A

    allow the market to adjust naturally.

    B

    maintain steady growth in the money supply.

    C

    decrease the market rate of interest below its natural value.

  • 34.[单选题] 纠错 收藏 提问 移除
    The category of persons who would be most likely to be harmed by an increase in the rate of inflation is:
    A

    homeowners with fixed 30-year mortgages.

    B

    retirees relying on a fixed annuity payment.

    C

    workers employed under contracts with escalator clauses.

  • 35.[单选题] 纠错 收藏 提问 移除
    During an economic recovery, a lagging unemployment rate is most likely attributable to:
    A

    businesses quickly rehiring workers.

    B

    new job seekers entering the labor force.

    C

    underemployed workers transitioning to higher-paying jobs.

  • 36.[单选题] 纠错 收藏 提问 移除

    The least likely consequence of a period of hyperinflation is the:

    A

    reduced velocity of money.

    B

    increased supply of money.

    C

    possibility of social unrest.

  • 37.[单选题] 纠错 收藏 提问 移除
    Of the following statements regarding the Producer Price Index (PPI), which is the least likely? The PPI:
    A

    can influence the future CPI.

    B

    category weights can vary more widely than analogous CPI terms.

    C

    is used more frequently than CPI as a benchmark for adjusting labor contract payments.

  • 38.[单选题] 纠错 收藏 提问 移除
    A price index of goods and services that excludes food and energy is most likely used to calculate:
    A

    core inflation.

    B

    the GDP deflator.

    C

    headline inflation.

  • 39.[单选题] 纠错 收藏 提问 移除
    Which of the following economic developments is most likely to cause cost-push inflation?
    A

    Industrial capacity utilization rises to a very high level.

    B

    Labor productivity increases faster than hourly labor costs.

    C

    A shortage of trained workers emerges throughout the economy.

  • 40.[单选题] 纠错 收藏 提问 移除
    If relative to prior values of their respective indicators, the inventory–sales ratio has risen, unit labor cost is stable, and real personal income has decreased, it is most likely that a peak in the business cycle:
    A

    has occurred.

    B

    is just about to occur.

    C

    will occur sometime into the future.

  • 41.[单选题] 纠错 收藏 提问 移除
    Which is the most accurate statement regarding the demand for money?
    A

    Precautionary money demand is directly related to GDP.

    B

    Transactions money demand is inversely related to returns on bonds.

    C

    Speculative demand is inversely related to the perceived risk of other assets.

  • 42.[单选题] 纠错 收藏 提问 移除
    According to the theory of money neutrality, money supply growth does not affect variables such as real output and employment in:
    A

    the long run.

    B

    the short run.

    C

    the long and short run.

  • 43.[单选题] 纠错 收藏 提问 移除
    In theory, setting the policy rate equal to the neutral interest rate should promote:
    A

    stable inflation.

    B

    balanced budgets.

    C

    greater employment.

  • 44.[单选题] 纠错 收藏 提问 移除
    Raising the reserve requirement is most likely an example of which type of monetary policy?
    A

    Neutral.

    B

    Expansionary.

    C

    Contractionary.

  • 45.[单选题] 纠错 收藏 提问 移除

    The least likely goal of a government’s fiscal policy is to:

    A

    redistribute income and wealth.

    B

    influence aggregate national output.

    C

    ensure the stability of the purchasing power of its currency.

  • 46.[单选题] 纠错 收藏 提问 移除
    A central bank conducts monetary policy primarily by altering the:
    A

    policy rate.

    B

    inflation rate.

    C

    long-term interest rate.

  • 47.[单选题] 纠错 收藏 提问 移除
    If a country’s inflation rate is below the central bank’s target rate, the central bank is most likely to:
    A

    sell government securities.

    B

    increase the reserve requirement.

    C

    decrease the overnight lending rate.

  • 48.[单选题] 纠错 收藏 提问 移除

    Monetary policy is likely to be least responsive to domestic economic conditions if policymakers employ:

    A

    inflation targeting.

    B

    interest rate targeting.

    C

    exchange rate targeting.

  • 49.[单选题] 纠错 收藏 提问 移除
    A government reduces spending by $50 million. The tax rate is 30%, and consumers exhibit a marginal propensity to consume of 80%. The change in aggregate demand caused by the change in government spending is closest to:
    A

    –$66 million.

    B

    –$114 million.

    C

    –$250 million.

  • 50.[单选题] 纠错 收藏 提问 移除

    The size of a national debt is most likely to be a concern for policymakers if:

    A

    Ricardian equivalence holds.

    B

    a crowding-out effect occurs.

    C

    debt is used to finance capital growth.

考试形式介绍

FRM考试分为两个级别,一级考试共100道单选题(4选1),考试时间4小时;二级考试共80道单选题(4选1),考试时间4小时。FRM考试采用全英文考试,较长的考试时间、较难的考试内容,对考生的脑力和体力都形成了巨大的压力。因此,坚持不懈的练习是FRM备考过程中必不可少的学习步骤。

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