MPC digital currency

1. National Debt: national debt, public debt; T-bills (in the United States, Treasury notes; Long term bonds: Treasury bonds)
corporate bonds
non guaranteed bonds: debentures
subordinated debentures

3. The fifth set of RMB
standard size
face value category Size (unit: mm)
100 yuan note Length 156, width 76
50 yuan note Length 150 width 70
20 yuan note Length 145 width 70
10 yuan note Length 140 width 70
5 yuan note Length 135, width 63
1 yuan note L 130 w 62
1 yuan coin Coins with a diameter of 25
5 cents Diameter 20.5
1 angle Coin Diameter 19
regardless of denomination, the size of modern dollar notes is 6.14 (length) × 2.61 (W) × 0.0043 (thick) in., 156 (long) × 66.3 (width) × 109 (thickness) mm. The size was passed by the act of 1914 and formally implemented in 1929. Before that, the dollar size was about 7.4218 × 125 inches, 189 x 79 (mm).

4.

National income is one of the basic theories in macroeconomics. National income (Ni) = total expenditure (AE). In terms of use value, national income is composed of means of proction and means of consumption that reflect the new value creation

The simple theory of national income determination in macroeconomics only includes proct market, that is, national income (Ni) = total expenditure (AE)

it should be divided into two departments, three departments and four departments. The more departments there are, the more complex they are. Two departments are C + S = C + I; three departments are C + S + T = C + I + G; The four sectors are C + S + T + k = C + I + G + (x-m). C is consumption, s is savings, I is investment, t is government net income, G is government purchase, K is domestic residents' transfer payment to foreigners, and (x-m) is net export

extended data:

the basic model describing the equal relationship between national income and aggregate demand in macroeconomics. Where Ni is national income and AE is total demand. This model discusses the relationship between national income and aggregate demand. In the two sector (consumer goods sector and investment goods sector) model, net tax NT, government purchase expenditure GP and net export NX are equal to zero

where C is consumption and MPC is marginal propensity to consume., It means that I investment is an exogenous variable, because Ni = AE, under the condition of given marginal propensity to consume, every quantity of I will lead to an equilibrium national income Ni. In essence, what is described here is the multiplier effect in the general theory

5. According to different levels of competition, market theory can be divided into four categories: perfect competition market, monopoly competition market, oligopoly market and monopoly market
a fully competitive market refers to a market structure in which competition is free from any hindrance and interference
the difference between many suppliers in the proction and sales of similar procts in a monopolistic competitive market is that the competitive factor in the market is the monopoly factor of the existing market structure
oligopoly refers to the market structure in which a few manufacturers control the proction and sales of the whole market
the market structure of a monopoly market as a whole instry means that there is only one procer< The characteristics of perfect competition in the four level market are as follows:
quantity of procts, low price, high efficiency
monopoly competition: a little higher price, high efficiency
oligopoly: a small amount of high price, low efficiency
monopoly: the most expensive, The most effective
relationship between marginal propensity to consume and average propensity to consume
the least number: average propensity to consume refers to the percentage of consumption in income, APC: APC = b = C / y
for example, a social income of 200 billion yuan, consumption expenditure of 150 billion yuan, average propensity to consume is 0.75 (1.5 / 2)

marginal propensity to consume is the proportion of increased consumption to increased income, MPC, that is, MPC = △ C / △ y
the marginal propensity to consume is 0.5 (0.5 / 1) when income increases by 300 billion yuan (1 trillion yuan) and consumption increases to 200 billion yuan (0500 billion yuan)< The basic rules of APC and MPC are as follows:

(1) the average propensity to consume APC and the marginal propensity to consume MPC decrease. As income increases, consumption also increases, but the growth rate of consumption is lower than that of income (APC decreases), and the growth rate of consumption is smaller and smaller (MPC decreases). APC and MPC, from the perspective of Keynesianism, explain one of the three laws of Keynesian effective demand shortage

(2) the slope of the consumption curve C = C0 + of MPC should be equal, but in the long run, the slope of the consumption curve will be smaller and smaller< br />
3APC> MPC, as you can see, compares APC and MPC numbers in table 10-1. This is because even if the income is zero, it will be the consumer's basic C0. MPC should be less than 1, but greater than zero< (4) the relationship between consumption and income can be divided into three situations:

C & gt; Y，APC> < br />
C APC> < br />
C = Y，APC = 1

6. [1] 1. Which of the following is not included in the accounting of GDP
a. a batch of goods exported to foreign countries; B. A sum of relief money given by the government to poor families
C. The agent charges a commission for an old house transaction; D. The insurance company received a family property insurance
2
A. real savings equals real investment; B. Planned saving is equal to planned investment
C. actual consumption plus actual investment equals output value; D. The total expenditure is equal to the income of the enterprise sector
3. Assuming other conditions remain unchanged, the increase of tax revenue will cause the increase of national income
A. increased, but consumption level decreased; B. At the same time, consumption increases
C. decrease and consumption level decrease at the same time; D. The combination point of interest rate and income appears in the upper right area of is curve, and in the upper left area of LM Curve, it means ()< br /> A．i< s ，L< M B．i> s ，L> M< br /> C．i> s ，L< M D．i< s ，L> M
5. In the IS-LM model, if the economy is in the middle region, the increase of money supply will lead to the increase of money supply
A. income increases and interest rates rise; B. Income decreases and interest rates rise
C. income increases and interest rate decreases; D. If other factors remain unchanged, the spontaneous investment will increase by US $1 billion, and the is curve will be ()
A. move 1 billion US dollars to the right; B. 1 billion US dollars to the left
C. right shift expenditure multiplier multiplied by US $1 billion; D. The increase of central bank's re subsidy rate will lead to the increase of money supply
A. increase and interest rate increase; B. Rece and raise interest rates
C. increase and decrease of interest rate; D. The decrease of interest rate and the decrease of interest rate will make the long-term aggregate supply curve move to the right
A. improvement of proction technology level; B. The increase of input quantity of proction factors
C. expansionary fiscal policy; D. Expansionary monetary policy
9
A. structural unemployment and cost driven inflation
B. under demand unemployment and demand driven inflation
C. frictional unemployment and demand driven inflation; D. Unemployment and inflation
10
A. fluctuation of unemployment rate; B. The fluctuation of interest rate
C. price fluctuation; D. The fluctuation of national income
1
A. GDP refers to the total value of final procts
B. GDP refers to the total value of procts proced in a year
C. GDP refers to the total market value of final procts< D. GDP refers to the total value of the final procts proced in the territory of the country in one year< br />A．APC＋APS＝1 B．APC＋APS＝2< br />C．MPC＝1—MPS D. According to Keynes, the lack of effective demand is the cause of unemployment, and the lack of effective demand is the result of three basic psychological laws, which are ()
a. the law of diminishing marginal propensity to consume; B. The law of diminishing marginal returns
C. flow preference law; D. The goal of macroeconomic policy is to rece the marginal efficiency of capital
A. full employment; B. Price stability
C. economic growth; D. Balance of payments
5
A. statutory reserve ratio; B. Excess reserve ratio; C. Rediscount rate; D. Cash deposit ratio; E. The number of base money
4. Judge whether the proposition is right or wrong (1 point for each sub question, 10 points in total)
1. The change of GDP depends on which year's price is used as the base price to measure GDP< According to Keynesian view, increasing savings will increase equilibrium output
3. The smaller the marginal propensity to consume, the greater the investment multiplier
4. If the central bank sells a large amount of government bonds, the interest rate will rise and the output will fall
5. Expansionary monetary policy can directly stimulate investment demand and promote the growth of national output< Generally speaking, structural unemployment is more serious than frictional unemployment
7. Long term Phillips curve reflects the relationship between inflation rate and unemployment rate
8. Tax increase and government expenditure increase are expansionary fiscal policies
9. If the macroeconomic equilibrium is above the long-term aggregate supply curve, then the unemployment rate in the economy is the natural unemployment rate
10. The sign of economic growth is the decline of unemployment rate< The following table is from a hypothetical national income account:
GDP
total investment
net investment
consumption
government purchase
government budget surplus
6 000
800
200
4 000
1 100
30

calculation: (1) NDP 2) Net exports 3) The government tax reces the transfer payment 4) Personal disposable income 5) Personal savings Suppose that the consumption demand of an economic society is C = 800 + 0.6y, the investment demand is I = 7500-20000r, the money demand is L = 1000y-10000r, and the price level is p = 1, try to find the GDP when the nominal money supply is 600 billion US dollars Suppose that an economic commodity market is described by the following behavior equation:
C = 5 + 0.75 (Y – T)
I = 6 – 0.25r
t = 4, g = 18
money market is described by the following behavior equation:
L (R, y) = 0.2y – 2.5R
nominal money supply M = 40
(1) dece the aggregate demand equation (the relevant calculation results retain one decimal place)< (2) if the price is fixed at 4 in the short run, try to calculate the national income and interest rate.
4. (1) the expected inflation rates of an economic society in three years are 10%, 12% and 15% respectively. In order to make the annual real interest rate 4%, what are the nominal interest rates in three years? What is the average nominal interest rate in three years (2) when the nominal interest rate is 10% and the real interest rate is only 5%, what is the expected inflation rate 6 points for this question)
6. Short answer question (6 points for each question, 18 points in total)
1. From the perspective of three sector economy, what are the main factors that affect the movement of is curve? How do they affect is curves
2. What is open market business? How does the central bank conct open market operation in the period of economic depression
3. What is acceleration principle? How to explain the cause of business cycle with multiplier accelerator model< In 2008, 670000 small businesses in China were forced to close down under the pressure of the global financial crisis. Chen Quansheng, counsellor of the State Council, said at a forum in Beijing on December 18, 2008 that about 6.7 million jobs have evaporated, mainly in Guangdong, the export base, making the number of unemployed far higher than the official figure of 8.3 million. The rising unemployment rate has exacerbated people's concerns about social stability. China's economic growth rate is expected to be less than 8% next year, which is regarded as the lowest level to maintain social stability
Chen Quansheng urged the vigorous development of labor-intensive instries to create employment opportunities and make up for the loss of employment opportunities e to shrinking exports and the government's control of growth in the past. In order to stimulate domestic demand, Beijing issued an economic stimulus plan worth 586 billion US dollars in November 2008, focusing on infrastructure construction
answer the question according to the above materials:
1. What is unemployment? What are the main indicators of unemployment 3 points)
2? Why According to the above data, what is the impact of unemployment on China's economy? What is the law of macroeconomics 4 points)
4? What is the principle 4 points)
1; 2. B 3. C 4. A 5. C 6. C 7. B 8. A 9.B 10.D< br />1．ABCD 2．AC 3．ACD 4.ABCD 5.ABD
1. × two × three × 4.√ 5. × 6.√ 7. × eight × 9.√ 10. ×< Solution: (1) NDP = GDP depreciation = GDP (total investment net investment) = 5400 (2 points)
(2) net export = GDP consumption total investment government purchase = 100... (1 point)
(3) because: government budget surplus = government tax government purchase transfer payment
so: government tax transfer payment = government budget surplus + government purchase = 1130... (2 points)< (4) personal disposable income = GDP tax + transfer payment = GDP (tax transfer payment) = 6000-1130 = 4870)...... (2 points)
(5) personal savings = personal disposable income personal consumption = 870)...... (1 point)
2. Solution: according to y = C + I, y = 800 + 0.6y + 7500-20000r, According to m / P = L, LM equation is y = 6 + 10R (2 points)
simultaneous is and LM equation is r = 0.4, GDP = y = 10 (2 points)
3. Solution: (1) according to known conditions, y = C + I + G = 5 + 0.75 (y-4) + 6-0.25r + 18, The is equation is y = 104-r (2 points)
let L = m / P, and the LM equation is y = 200 / P + 12.5r (2 points)
combine is and LM equation, and the total demand equation is y = 96.3 + 14.8 / P (2 points)
(2) substitute P = 4 into the total demand equation, The results are as follows: (1) according to the real interest rate = nominal interest rate - inflation rate,
nominal interest rate = real interest rate + inflation rate,
the annual nominal interest rates are 14%, 16% respectively 19%... (3 points)
the three-year average nominal interest rate is 16.3%... (1 point)
(2) according to the real interest rate = nominal interest rate inflation rate, we get:
inflation rate = nominal interest rate real interest rate, so the expected inflation rate is 5% (2 points)
1, That is, the change of spontaneous consumption and spontaneous investment. The increase of spontaneous expenditure leads to the increase of the intercept of the is curve on the vertical axis, which leads to the right shift of the is curve. Its economic meaning is: even if the interest rate r remains unchanged, the national income y will increase 2 points)
(2) changes in government expenditure. When the government expenditure increases, the intercept of the is curve on the vertical axis becomes larger, so the is curve moves to the right, and the range of movement is △ y = kg ·△ G. This reflects the impact of expansionary fiscal policy 2 points)
(3) tax changes. When the tax increases, the intercept of the is curve on the vertical axis becomes smaller, so the is curve moves to the left, and the range of movement is △ y = kt · △ t

7.

No, propensity to consume includes average propensity to consume and marginal propensity to consume. The average propensity to consume refers to the proportion of consumption expenditure to disposable income, and the marginal propensity to consume refers to the ratio of the increased consumption to the increased disposable income (the ratio of the increased consumption to the increased disposable income)

consumption tendency can not summarize all the factors that affect consumption. It's just one aspect of consumption. Consumption will also be affected by the level of commodity prices, interest rates and other factors. Keynes believes that the most decisive factor in influencing consumption is household income. Therefore, Keynesian theory analyzes the influence of disposable income on consumption separately

extended data

average propensity to consume, also known as propensity to consume, refers to the proportion of consumption in income. If expressed by formula, it is: APC = C / y

for example, a social income is 2 trillion yuan, consumption expenditure is 1.5 trillion yuan, and average propensity to consume is 0.75 (1.5 / 2)

The changes of APC and MPC have the following basic rules:

(1) the average propensity to consume APC and the marginal propensity to consume MPC are decreasing, that is, because of the increase of income, consumption also increases, but the growth rate of consumption is smaller than the growth rate of income (APC decreasing), and smaller and smaller (MPC decreasing). The decline of APC and MPC is an important viewpoint of Keynes, which is one of the three laws of Keynes to explain the lack of effective demand

(2) MPC is the slope of the consumption curve C = C0 + by, and the slope of each point on the consumption curve should be equal, but in the long run, the slope of the consumption curve is getting smaller and smaller

3APC> MPC, as can be seen from the comparison of APC and MPC figures in table 10-1. This is because even if the income is zero, there will be basic consumption C0. MPC should be less than 1, but greater than zero

8. GDP refers to the market value of all the final procts (goods and services) proced by economic society (i.e. a country or region) in a certain period of time by using proction factors. The aggregate supply curve function, also known as the macro proction function, refers to the proction function of the whole national economy, which represents the relationship between the total input and the total output, The marginal consumption function is the ratio between the increased consumption and the increased income, that is, the ratio of the increased consumption to the increased consumption, Marginal propensity to consume (MPC) marginal efficiency of capital (MEC) is a discount rate, This kind of discount rate makes the sum of the present value of the expected income of a capital good equal to the supply price or replacement cost of the capital good. The rediscount rate is the lending rate of the central bank to commercial banks and other financial institutions. The is curve shows the condition of market equilibrium. It describes the relationship between the total output and the interest rate when the proct market reaches the macro equilibrium, that is, when I = s; There is a reverse relationship between the total output and the interest rate, that is, when the interest rate increases, the total output tends to decrease, otherwise it increases; Any point on the is curve means I = s, and any point deviating from the is curve means no equalization; If a certain point is on the right side of the is curve, it means is, that is, the current interest rate is too low, which leads to the investment scale being larger than the savings scale, The natural unemployment rate of inventory investment is the unemployment rate of economic society under normal circumstances. It is the unemployment rate when the labor market is in a stable state of supply and demand. The stable state here is considered as a state that neither causes inflation nor deflation, In the coordinate system where the vertical axis represents the wage growth rate of money, a curve inclined to the lower right is drawn, which is the original Phillips curve. The modified Phillips curve is a Phillips curve that uses the price rise rate to replace the wage growth rate of money and adds expectation. It is also called the short-term Phillips curve, which means that when the expected inflation rate remains unchanged, the price rise rate of money will be replaced by the price rise rate, In the long-term Phillips curve, there is no substitution relationship between unemployment and inflation. Money demand money creation multiplier, also known as money multiplier, generally means that the money supply created by the base money is the multiple of the base money. Crowding out effect refers to the effect of the decrease of private consumption or investment caused by the increase of government expenditure. In a fully employed economy, the increase of government expenditure will offset the decrease of private investment in the following ways: e to the increase of government expenditure, the competition for purchasing goods and services in the commodity market will be intensified, and the price will rise, As a result, bond prices will fall, interest rates will rise, and private investment will decrease. As investment decreases, people's consumption will decrease; Extrusion & quot; The aggregate demand end proct automatic stabilizer, also known as internal stabilizer, refers to a mechanism existing in the economic system itself that can rece the impact of various disturbances on national income. It can automatically suppress inflation in the period of economic prosperity and alleviate depression in the period of economic recession, Tobin's Q theory compensatory fiscal policy cyclical unemployment mobility preference trap: people are willing to hold no matter how much money they have, this situation is called & quot; Keynesian trap & quot; Or & quot; Liquidity preference trap & quot; Investment multiplier LM Curve fiscal policy monetary policy aggregate supply curve Okun's law inflation rate demand driven inflation, also known as excess demand inflation, refers to the continuous and significant rise of the general price level caused by the total demand exceeding the total supply. This type of inflation is caused by excessive growth of aggregate demand and insufficient aggregate supply, that is, "too much money chasing less procts", or "the demand for goods and services exceeds the supply at the current price". Cost driven inflation, also known as supply-oriented inflation, refers to the rise of the general price level caused by the increase of manufacturers' proction costs. Dumping same price law real exchange rate comparative advantage

9. Wealth refers to valuable things, including natural wealth, spiritual wealth, etc< In a narrow sense, wealth effect refers to the monetary wealth effect. The rise (or fall) of the price of financial assets leads to the increase (or decrease) of the wealth of the holders of financial assets, which in turn promotes (or suppresses) consumption growth, affects short-term marginal propensity to consume (MPC), and promotes (or suppresses) economic growth, The stronger the desire to consume

wealth effect in a broad sense refers to a broader concept covering all wealth, including material and spiritual effects. Wealth is the material goods that can meet your needs in proction and life; Wealth is what makes you happy in spirit
response time: March 1, 2021. Please refer to the official website of Ping An Bank for the latest business changes
[Ping An Bank I know] want to know more? Come and see "Ping An Bank I know" ~
https://b.pingan.com.cn/paim/iknow/index.html