Expenditure increased on all the following consumption EXCEPT ______.A) foodB) automob

A sharp increase in military expenditure brought the cabinet a budget _____.

A、 deficit 

B、 debt 

C、 red 

D、 estimation

Which of the following government actions would lead to an increase in aggregate demand？

(1) Increasing taxation and keeping government expenditure the same

(2) Decreasing taxation and increasing government expenditure

(3) Decreasing money supply

(4) Decreasing interest rates

A.1 only

B.1 and 3

C.2 and 4 only

D.2, 3 and 4

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1、(英译中)The effect of governmental expenditures on the total economy varies with both the level of utilization of labor and capital in the economy at the time of the expenditure, and the segment of the economy which receives the expenditure. If the economy as a whole or the segment of the economy which is the focus of the expenditure is operating at capacity or close to capacity, then the expenditure’s major effects will tend to be inflationary, and will not generate much employment of capital and labor. If the economy or sector is operating at much less than full employment, the expenditure will produce a genuine (non-inflationary) rise in the GNP.

A true measure of the effect of governmental increase in the amount of money made available, then, is not the simple dollar value of the initial injection but the cumulative effect of this injection through spending and re-spending. In the optimum case the initial expansion of income flow could be great enough to produce tax revenues in excess of the original "deficit spending" or the "tax cut", so that deficits are not only smaller than the increased GNP but are recouped. In Keynesian economics the fundamental point of government policy clearly is not budget-balancing but spending in the event of unused productive capacity and unemployment. Spending increases productivity. This productivity resulting from federal spending has overwhelmed the older economic myths of the balanced budget where government is conceived of as just another business firm.

在凯恩斯交叉图中，假设消费函数如下：

C=200+0.75(Y-T)

计划投资是100；政府购买和税收都是100。

a．画出作为收入的函数的计划支出。

b．均衡的收入水平是多少？

c．如果政府购买增加到125，新的均衡收入是多少？

d．为了达到1600美元的收入。需要的政府购买水平是多少？

In the Keynesian cross, assume that the consumption function is given by

C=200+0.75(Y-T)

Planned investment is 100; government purchases and taxes are both 100.

a．Graph planned expenditure as a function of income.

b．What is the equilibrium level of income？

c．If government purchases increase to 125, what is the new equilibrium income？

d．What level of government purchases is needed to achieve an income of 1,600？

Text 3

Investment in the public sector, such as electricity, irrigation, public services and transport (excluding vehicles, ships and planes) increased by about 10%, although the emphasis moved to the transport and away from the other sectors mentioned. Trade and services recorded a 16%～17% investment growth, including a 30% increase in investment in business premises. Industrial investment is estimated to have risen by 8%. Although the share of agriculture in total gross in vestment in the economy continued to decline, investment grew 9% in absolute terms, largely spurred on by a 23% expansion of investment in agricultural equipment. Housing construction had 12% more invested in it in 1964, not so much owing to increased demand, as to fears of new taxes and limitation of building.

Total consumption in real terms rose by close on 11% during 1964, and per capital personal consumption by under 7% ,as in 1963. The undesirable trend towards a rapid rise in consumption, evident in previous years, remained unaltered. Since at current prices consumption rose by 16% and disposable income by 13% ,there was evidently a fall in the rate of saving in the private sector of the economy. Once again consumption patterns indicated a swift advance in the standard of living. Expenditure on food declined in significance, although consumption of fruit increased.

Spending on furniture and household equipment, health, education and recreation continued to increase. The greatest proof of altered living standards was the rapid expansion of expenditure on transport (including private cars) and personal services of all kinds, which occurred during 1964. The progressive wealth of large sectors of the public was demonstrated by the changing composition of durable goods purchased. Saturation point was rapidly being approached for items such as the first household radio, gas cookers, and electric, refrigerators, whereas increasing purchases of automobiles and television sets were registered.

31. the author thinks that the trend towards a rapid rise in consumption was "undesirable" because ______.

A) people saved less

B) people were wealthy

C) people consumed less

D) expenditures on luxuries increased

sport (excluding vehicles, ships and planes) increased by about 10%, although the emphasis moved to the transport and away from the other sectors mentioned. Trade and services recorded a 16% to 17% investment growth, including a 30% increase in investment in business premises. Industrial investment is estimate to have risen by 8%. Although the share of agriculture in total gross investment in the economy continued to decline, investment grew by 9% in absolute terms, largely spurred on by a 23% expansion of investment in agricultural equipment. Housing construction had 12% more invested in it in 1964, not so much owing to increased demand, as to fears of new taxes and limitation of building.

Total consumption in real terms rose by close on 11% during 1964, and per capital personal consumption by under 7%, as in 1963. The undesirable trend towards a rapid rise in consumption, evident in previous years, remained unaltered. Since at current prices consumption rose by 16% and disposable income by 13%, there was evidently a fall in the rate of saving in the private sector of the economy. Once again consumption patterns indicated a swift advance in the standard of living. Expenditure on food declined in significance, although consumption of fruit increased. Spending on furniture and household equipment, health, education and recreation continued to increase. The greatest proof of altered living standards was the rapid expansion of expenditure on transport (including private cars) and personal services of all kinds, which occurred during 1964. The progressive wealth of large sectors of the public was demonstrated by the changing composition of durable goods purchased. Saturation(饱和) point was rapidly being approached for items such as the first household radio, gas cookers, and electric refrigerators, whereas increasing purchases of automobiles and television sets Were registered.

The author thinks that the trend towards a rapid rise in consumption was "undesirable" because______.

A．people saved less

B．people were wealthy

C．people consumed less

D．expenditures on luxuries in creased

of the labor force, the increase in output per man-hour, and the growth of total demand for goods and services. Changes in the average hours of work enter in exactly parallel fashion but have been quantitatively less significant. As productivity rises, less labor is required per dollar of national product, or more goods and services can be produced with the same number of goods. If output does not grow, employment will certainly fall; if production increases more rapidly than productivity (less any decline in average hours worked)employment must rise. But the labor force grows, too. Unless gross national product(total final expenditure for goods and services corrected for price changes) rises more rapidly than the sum of productivity increase and labor force growth (again modified for any change in hours of work), the increase in employment will be inadequate to absorb the growth in the labor force. Inevitably the unemployment rate will increase. Only when total production expands faster than the rate of labor force growth plus the rate of productivity increase and minus the rate at which average annual hours fall does the unemployment rate fall. Increases in productivity were more important than growth of the labor force as sources of the wide gains in output experienced in the period from the end of the war to the mid-sixties. These increases in potential production simply were not matched by increases in demand adequate to maintain steady full employment.

Except for the recession years of 1949, 1954, and 1958, the rate of economic growth exceeded the rate of productivity increase. However, in the late 1950s productivity and labor force were increasing more rapidly than usual, while the growth of output was slower than usual. This accounted for the change in employment rates.

But if part of the national purpose is to reduce and contain unemployment, arithmetic is not enough. We must know which of the basic factors we can control and which we wish to control. Unemployment would have risen more slowly or fallen more rapidly if productivity had in creased more slowly, or the labor force had increased more slowly, or the hours of work had fallen more steeply, or total output had grown more rapidly. These are not independent factors, however, and a change in any of them might have caused change in the other.

A society can choose to reduce the growth of productivity, and it can probably find ways to frustrate its own creativity. However, while a reduction in the growth of productivity at the expense of potential output might result in higher employment in the short run, the long-run effect on the national interest would be disastrous.

We must also give consideration to the fact that hidden beneath national averages is continuous movement into, out of, between, and within labor markets. For example, 15 years ago, the average number of persons in the labor force was 74 million, with about 70 million employed and 3.9 million unemployed. Yet 14 million experienced some term or unemployment in that year. Some were new entrants to the labor fore; others were laid off temporarily, the remainder were those who were permanently or indefinitely severed from their jobs. Thus, the average number unemployed during a year understates the actual volume of involunatary displacement that occurs.

High unemployment is not an inevitable result of the pace of technological change but the consequence of passive public policy. We can anticipate a moderate increase in the labor force accompained by a slow and irregular decline in hours or work. It follows that the output of the economy--and the aggregate demand to buy it--must grow by more than 4 percent a year just to prevent the unemployment rate from rising, and by even more if the unemployment rate is to fall further. Yet our

A．productivity rises at the same rate as growth of the labor force

B．productivity and labor force increase at a greater rate than output

C．output exceeds productivity

D．rate of economic growth is less than the number of man-hours required

基础能量消耗(basal energy expenditure，BEE)

静息能量消耗(resting energy expenditure，REE)

支出—变动政策（expenditure changing policy) 名词解释