20. Reported GDP increases when, in fact, total production is unchanged when
i. there is a shift from household production to market production.
ii. a previously illegal activity is legalized.
(A) i only
(B) ii only
(C) Neither i nor ii
(D) Both i and ii.

21. Approximately, the real interest rate _______ the inflation rate ________ the nominal interest rate.(A) plus; equals (B) equals; plus (C) equals; minus (D) minus; equals

22. The short-run aggregate supply curve(A) shows what each producer is willing and able to produce at each level of income holdingconstant potential GDP and all resource prices.(B) shows the relationship between aggregate production and the price level holding constantpotential GDP and all resource prices.(C) becomes vertical if there is excess production capacity within the economy.(D) shows a negative relationship between the price level and real national income holding constantpotential GDP and all resource prices.

23. A Keynesian economist believes that(A) if the economy was left alone, it would rarely operate at full employment.(B) the economy is self-regulating and always at full employment.(C) the economy is self-regulating and will normally, though not always, operate at fullemployment if monetary policy is not erratic.(D) the economy is self-regulating and will normally, though not always, operate at fullemployment if fiscal policy is not erratic.

24. Federal Reserve open market operations directly influence(A) firms. (B) consumers. (C) banks. (D) Congress.

25. The more ________, the larger is the amount of the tax on the good that the ________ pays.(A) elastic the demand for a good; buyers (B) inelastic the demand for a good; buyers(C) inelastic the supply of a good; buyers (D) elastic the supply of a good; sellers

26. You observe that unplanned inventories are increasing. You predict that there will be ________.(A) a business cycle (B) an expansion(C) a trough (D) a recession

27. The implicit rental rate for capital includes the(A) total value of a piece of capital equipment.(B) interest income forgone by purchasing the piece of capital equipment.(C) firm's normal profit.(D) amount paid for the use of a piece of capital equipment owned by someone else.

28. Which of the following are two components of the opportunity cost of using capital already ownedby the firm?(A) economic profit and normal profit(B) implicit rental rate and economic profit(C) explicit rental rate and economic costs(D) economic depreciation and forgone interest

29. 下列何者是我國計算並發佈GDP的政府機關？(A) 內政部 (B) 經建會 (C) 主計處 (D) 國家發展委員會

30. 計算下列物價指數中，所考慮商品與勞務之範圍由多到少依序是？I. Consumer Price Index (CPI)II. GDP deflatorIII. Personal consumption expenditure deflator(PCE deflator)(A) I>II>III (B) II>I>III (C) III>I>II (D) II >III > I

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