|
1) Consider the banking system. ‘Reserves are deposits that banks have received but have not loaned out’.1）考虑银行系统。“准备金是银行已经收到但尚未借出的存款。”
a) Banks must hold reserves. Why? (2 marks)a）银行必须持有准备金。为什么？（2分）
美元是国际支付货币，中国出口产品的增加增加增加了外汇储备。
从狭义上讲，外汇储备是一个国家经济实力的重要组成部分，是一个国家平衡国际收支、稳定汇率、偿还外汇债务的重要手段。
广义上说，外汇储备是指以外币计价的资产，包括现金、外国银行存款、外国证券等。外汇储备是一国国际流动性的重要组成部分，对国际收支平衡和汇率稳定具有重要影响。
外汇储备的功能主要包括以下四个方面：
第一，调整国际收支平衡，确保对外支付。
二是干预外汇市场，稳定汇率。
三是维护国际声誉，提高融资能力。
四是增强综合国力，抵御金融风险。
The US dollar is the international payment currency, and the increase of China's export products has increased the foreign exchange reserve.
In a narrow sense, foreign exchange reserves are an important component of a country's economic strength, is a country to balance the balance of payments, stable exchange rate, foreign exchange debt repayment.
In the broad sense, foreign exchange reserves refer to assets denominated in foreign currencies, including cash, foreign bank deposits, foreign securities, etc.. Foreign exchange reserve is an important part of a country's international liquidity, and has an important impact on the balance of international payments and stable exchange rate.
The function of foreign exchange reserve mainly includes the following four aspects:
First, adjust the balance of payments to ensure external payments.
Two, intervention in the foreign exchange market to stabilize the exchange rate.
Three, maintain international reputation and improve financing ability.
Four, enhance the comprehensive national strength, resist financial risks.
b) What are excess reserves? (1 mark) 什么是超额准备金？（1分）
超额准备金是商业银行和存款金融机构在中央银行存款账户中实际准备金的一部分。本行在经营活动中，应当提取一定数额的存款准备金，并按照法定准备金率提取。其次，商业银行等金融机构在追求利润的同时，也必须考虑流动性风险等，因此实际准备一般与法定准备金存在一定差异，导致超额准备金。实际准备金额大于法定公积金时，超额准备金为正；反之，超额准备金为负。负数的超额准备金通常必须在下一个计算期内补足。存款准备金率是中央银行重要的货币政策工具。商业银行依法需要将存款的一定比例存入中央银行。通过调整商业银行的存款准备金率，中央银行控制基础货币，从而调节货币供应的目的。超额准备金又称准备金，中国人民银行已取消了对商业银行存款准备金率、原存款准备金率和准备金率的要求。目前，支付准备金是指商业银行中央银行存款准备金率的存在，通常称为超额准备金。Excess reserve is the portion of the actual reserve of the commercial bank and the deposit financial institution in the central bank's deposit account. The bank shallin its business activitieshold a certain amount of reserves for its deposits, which are subject to the statutory reserve ratio. Secondly, commercial banks and other financial institutions in the pursuit of profit at the same time, must also consider the liquidity risk, etc., so the actual preparation holds in general there will be some difference with the statutory reserve, resulting in excess reserves. When the actual preparation is greater than the statutory reserve, the excess reserve is positive; on the contrary, the excess reserve is negative. The excess reserves of negative numbers must usually be made up in the next calculation period. Deposit reserve ratio is an important monetary policy tool of central bank. According to the law, commercial banks need to deposit a certain percentage of their deposits to the central bank. By adjusting the reserve ratio of commercial banks, the central bank to control the base currency, thereby regulating the purpose of money supply. Excess reserves, also known as reserve funds, the people's Bank of China has canceled the request for the ratio of commercial banks reserve ratio, the original deposit reserve ratio and reserve ratio. At present, the provision for payment refers to the existence of the deposit reserve ratio of the Central Bank of commercial banks, which is commonly known as excess reserves.
c) How are excess reserves calculated? (1 mark)
Commercial banks retaincashin the operating activities. It becomes a deposit reserveby the cash in the central bank deposits and two parts. Generally speaking, in the form of law, the commercial banks must keep the minimum amount of reserves in the central bank, which is the statutory reserve fund. The excess reserve is over the legal reserve. Excess reserves can be either in cash or in the central bank.
Formula 1:
Reserve = Legal Reserve + Excess Reserve
Formula 2:
The Reserve Requirement of a Commercial Bank = Reserve Ratio * Total Deposits of Commercial Banks
Reserve is the amount of money or assets held by the bank in the form of cash or in the form of deposits in the central bank, which may also be in the form of securities.
d) What is the significance of excess reserves? (2 marks)
Excess reserves generally include borrowed reserves and non borrowed reserves. Borrowed reserve is a commercial bank's currency funds borrowed from the bank due to insufficient reserves. The excess reserve is a reserve of non borrowed reserves, which is also known as the reserve. Increase in excess reserves, often means that the ability of banks to enhance potential loans, if this part of the money is not used, it means the loss of interest. At the same time, in order to prevent the occurrence of large withdrawals and other phenomena, banks can not make excess reserves to zero, which has become a major problem in the management of banks, but also an art.
2) Consider the following statement in the short-run and the long-run: “The quantity theory of money (quantity equation) states than an increase in the money supply will lead to an equiproportionate increase in the price level”. Is this true or false? Explain. (4 marks)
1. The money supply increases, but the price level and inflation expectations remain unchanged, which will lead to short-term interest rates and long-term interest rates fall.
2. The money supply increases, short-term interest rates decline, but with the slow rise in prices, consumer spending increased, the demand for bonds to reduce long-term interest rates rise.
3. The increase in money supply, inflation expectations, the demand for bonds, interest rates rise.
3) A book, One World, Ready or Not - The Manic Logic of Global Capitalism, by William Greider, suggests that because of the rapid growth in productivity, output is increasing too fast - too fast, that is, for total demand to keep up. As a result, the economy could collapse as a result of overproduction.
a) Using the aggregate demand/aggregate supply diagram, illustrate the effect of increased productivity the short-run (holding the LRAS curve constant). (1 mark)(Be sure to add labels to indicate clearly the new equilibrium position)
Explain this adjustment process. (3 marks)
Illustrate here (Tips: to create new lines, simply copy the existing curves and move to the new locations)
1. Advance reasonable planning.
2. Avoid duplication of construction.
3. Make efforts to expand domestic demand.
4. Adapt to market changes, and timely adjustproduction. expand overseas markets actively.
Excess capacity is relative. The productive forces will never catch up with the needs of the masses.
b) What is the impact on unemployment and inflation as a result of the new equilibrium depicted in part a)? (1 mark)
1. In the short term, moderate inflation and the unemployment rate is inversely proportional to the inflation rate, the unemployment rate will decline, on the contrary, the unemployment rate rose. Therefore, it is necessary to maintain moderate inflation. Short term Phillips curve.
2. In the long run, the unemployment rate and inflation rate is not related, but with economic development. Long-term Phillips curve.
3. The hyperinflation will easily lead to economic collapse. It will cause a lot of unemployment.
4. Imagine that your major trading partners impose high tariffs on all goods, services and resources entering their countries. (6 marks)
a)#p#分页标题#e# Illustrate the short-run impact on your own economy in the diagram below. (Be sure to add labels to indicate clearly the new short-run equilibrium position)(1 mark)
Illustrate here (Tips: to create new lines, simply copy the existing curves and move to the new locations)
b) What is the effect on the unemployment rate and the inflation rate in your nation in the short-run? (1 mark)
At present, China's export led economic growth, while raising the tax rate, raw material prices, resulting in a decline in the purchasing power of our country, will affect our export volume declined, the unemployment rate increased.
Raising the tax rate will increase the tax burden, reduce the profits of enterprises, reduce the enthusiasm of entrepreneurs and increase the unemployment rate. When inflation is high, the unemployment rate is low.
c) Economists argue that the economy will automatically self-correct, adjusting to a new long-run equilibrium over time. Clearly explain this adjustment process. (Be sure to explain the adjustment not just state that a curve shifts to restore long-run equilibrium – ensure that this in your own words)(3 marks)
The market mechanism is deduced from the complete freedom of choice. Market mechanism is the mechanism of resource allocation optimization. It consists of two parts: allocation mechanism (price mechanism) and optimization mechanism (competition). The allocation mechanism or price mechanism is the price and its change to guide the allocation of resources between different industries, this mechanism has the allocation of resources, optimize the allocation of resources and adjust the balance between supply and demand functions. The optimization mechanism should include competition and elimination (but not eliminated or the Smith model seems to be weak, it optimizes the mechanism) of the allocation of resources, competition and elimination is two parts of interrelated and mutually complementary, the two together constitute a complete optimization system.
1) Under the constraint of the established income, the maximization of consumer utility depends on the marginal rate of substitution of any two commodities.
2) In a perfectly competitive market, the maximization of the manufacturer's profit depends on the price of the product = marginal cost = marginal revenue.
3) In order to maximize the profit, the manufacturer determines the input of production factors according to the optimal combination of factors of production, so that the marginal rate of technical substitution of any of the two factors of production is equal to the ratio of the factor price.
4) In the production factor market, the manufacturer pays the factor owner according to the marginal product value of the factor, and obtains the factor income.
5) Market regulation of supply and demand sides. The spontaneous function of the market mechanism makes the whole social economy in a general equilibrium state. In this case, the consumer from the consumer products to maximize the satisfaction of the manufacturers to obtain the maximum profit, production factors in accordance with their respective contributions in the production of income.
|
 |
|||
| 网站地图 |
