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General Questions
Real Sector
Monetary Policy
Fiscal Policy
External Sector
100

Bilateral Surveillance at the IMF focuses on all of the following except. 

  1. Actual and potential economic growth 
  2. Risks to global financial stability
  3. The stance of monetary policy
  4. An assessment of the exchange rate

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Двусторонний надзор МВФ сосредоточен на всех нижеперечисленных вопросах кроме: 

1. Фактический и потенциальный экономический рост 

2. Риски для глобальной финансовой стабильности

3. Направленность денежно-кредитной политики

4. Оценка валютного курса

  • Risks to global financial stability


100

In the production approach of GDP accounting, intermediate goods are excluded because:

  1. They represent goods that have not been produced

  2. Their inclusion would understate GDP

  3. Their inclusion would lead to double counting

  4. Their exact market value is hard to measure

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При производственном подходе к учету ВВП промежуточные товары исключаются, потому что:

1. Эти товары не были произведены

2. Их включение привело бы к занижению ВВП

3. Их включение привело бы к двойному счету

4. Их точную рыночную стоимость трудно измерить


Their inclusion would lead to double counting

100

The monetary survey is:

  1. A survey of the households’ financial situation

  2. The balance sheet of the central bank, which controls the monetary base

  3. The consolidated balance sheet of the central bank and the deposit money banks

  4. A survey of the financial health of deposit money banks

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Денежно-кредитный обзор - это:

1. Обзор  финансового положения домохозяйств

2. Баланс центрального банка, который контролирует денежную базу

3. Консолидированный баланс центрального банка и денежно-депозитных банков

4. Обзор  финансового состояния денежно-депозитных банков.


The consolidated balance sheet of the central bank and the deposit money banks

100

Which of following will NOT boost aggregate demand? :

  1. Increase taxes and increase government spending

  2. Reduce taxes and increase government spending

  3. Increase government spending

  4. Reduce taxes

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Что из перечисленного ниже НЕ увеличивает совокупный спрос?


1. Повышение налогов и увеличение государственных расходов

2. Снижение налогов и увеличение государственных расходов

3. Увеличение государственных расходов

4. Снижение налогов


Raise taxes and raise government spending 

100

Each of the following would increase a surplus on the current account except:

  1. A rise in domestic saving

  2. A rise in national income holding domestic absorption constant

  3. A boom in government infrastructure spending

  4. An increase in transfers from abroad

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Все нижеперечисленные факторы увеличивают положительное сальдо по счету текущих операций, кроме одного:

1. Рост внутренних сбережений

2. Рост национального дохода при неизменном внутреннем совокупном спросе

3. Резкое увеличение  государственных расходов на инфраструктуру

4. Увеличение трансфертов из-за рубежа


A boom in government infrastructure spending

200

Which statement is correct? 

  1. Internal Balance is achieved when inflation is stable. 

  2. An economy is said to be in External Balance when it can maintain a stable exchange rate.  

  3. An economy is said to be in External Balance when demand equals supply of foreign exchange. 

  4. One of the conditions for Internal Balance is that the economy is close to full employment.


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Какое утверждение верно? 


1. Внутреннее равновесие достигается, когда инфляция стабильна. 

2. Считается, что экономика находится в состоянии внешнего равновесия, когда она может поддерживать стабильный обменный курс.  

3. Считается, что экономика находится в состоянии внешнего равновесия, когда спрос равен предложению иностранной валюты. 

4. Одним из условий внутреннего равновесия является то, что в экономике отмечается почти полная занятость.


One of the conditions for internal balance is that the economy is close to full employment. 

200

Which of the following statements are true in most economies?

  1. Consumption is a larger and more stable component of GDP than investment

  2. Investment is a larger and more stable component of GDP than consumption

  3. Consumption is a function of disposable income, therefore it is highly volatile

  4. Investment, also called fixed investment to distinguish it from inventory investment, is a stable component of GDP


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Какие из следующих утверждений верны для большинства стран?


1. Потребление является более крупным и стабильным компонентом ВВП, чем инвестиции

2. Инвестиции являются более крупным и стабильным компонентом ВВП, чем потребление

3. Потребление зависит от располагаемого дохода, поэтому оно очень волатильно

4. Инвестиции, также называемые  инвестициями в основные фонды (в отличие от инвестиций в запасы материалььных средств), являются стабильным компонентом ВВП


Consumption is a larger and more stable component of GDP than investment

200

An increase in the banks’ willingness to lend will lead to:

  1. A higher money multiplier

  2. A lower money multiplier

  3. The money multiplier will be unaffected

  4. It depends


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Рост желания  банков выдавать кредиты приведет к:


1. Повышению денежного мультипликатора

2. Снижению денежного мультипликатора

3. Денежный мультипликатор не изменится

4. Это зависит ...


A higher money multiplier

200

When will an increase in government spending most likely crowd-out private investment?

  1. When real GDP growth is slower than trend rate of growth.

  2. When actual GDP is far below potential GDP.

  3. When the unemployment rate is low.

  4. When the household saving rate is high.

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В каком случае  увеличение государственных расходов, вероятнее всего, приваедет к "вытеснению"  частных инвестиций?


1. если темпы роста реального ВВП ниже тренда .

2. если  фактический ВВП намного ниже потенциального ВВП.

3. при низком уровне безработицы .

4. при высокой норме сбережений домохояйств 

When the unemployment rate is low.

200

The real exchange rate is a measure of the:

  1. Ratio of export prices to import prices

  2. Price of one country’s currency in terms of another

  3. Weighted average of selected bilateral nominal rates

  4. Price of one country’s goods and services relative to those in another, when both are expressed in the same currency.

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Реальный валютный курс - это показатель:

1. соотношенния цен экспорта и цен импорта 

2. цены валюты одной страны по отношению к валюте другой страны

3. средневзвешенного значения пары  двусторонних номинальных курсов

4. цены товаров и услуг одной страны по отношению к товарам и услугам другой страны, если эти цены выражены в одной и той же валюте.


Price of one country’s goods and services relative to those in another, when both are expressed in the same currency.

300

WILD CARD!!

Which quote is from Gamal Abdel Nasser?

  1. “I am a leader by default, only because nature does not allow a vacuum”

  2. “I have been a conspirator for so long that I mistrust all around me”

  3. “If you wish to be a success in the world, promise everything, deliver nothing”

  4. “There is an almost universal quest for easy answers and half-baked solutions. Nothing pains some people more than having to think”

“I have been a conspirator for so long that I mistrust all around me”

300

Select the two right answers:

  1. Inventory investment must be equal to zero because GDP measured from the production side must match GDP measured from the expenditure side

  2. Inventory investment is the difference between goods produced and goods sold in a given year

  3. Inventory investment is the stock of all unsold goods that have been accumulated over the years

  4. Inventory investment is a misleading term. In contrast to “fixed investment”, inventory investment is party involuntary

(2) and (4)

300

Real money demand is a negative function of the interest rate because:

  1. When the interest rate is higher, individuals accumulate more wealth, and therefore need more money to conduct transactions

  2. When the interest rate is lower, individuals accumulate more wealth, and therefore need more money to conduct transactions

  3. When the interest rate is higher, the opportunity cost of holding money is higher and the real money demand is lower

  4. When the interest rate is higher, the opportunity cost of holding money is lower and the real money demand is lower

When the interest rate is higher, the opportunity cost of holding money is higher and the real money demand is lower

300

Which of the following is not an automatic stabilizer?

  1. As the unemployment rate increases during an economic downturn, unemployment insurance payments increase.

  2. In response to a recession, parliament enacts lower income tax rates and increased tax exemptions for married couples.

  3. As people earn higher incomes during an economic expansion, they pay higher taxes owing to the progressive tax system.

  4. Owing to a fall in the prices of agricultural goods on world markets, a Price Stabilization Fund makes increased payments to domestic farmers.

In response to a recession, parliament enacts lower income tax rates and increased tax exemptions for married couples.

300

When a country posts a surplus on the external current account, it means:

  1. The country is a net lender to the rest of the world.

  2. The trade balance is in surplus.

  3. The budget of the general government is in surplus.

  4. The domestic currency appreciates.

The country is a net lender to the rest of the world

400

The Hodrick Prescott Filter:

  1. Provides a method for determining when output is at full employment 
  2. Is best used to assess potential output when the data is highly volatile
  3. Is an a-theoretical statistical technique for measuring business cycles. 

  4. Is a method for filtering out demand shocks to focus on potential output. 

Is an a-theoretical statistical technique for measuring business cycles.

400

WILD CARD!! 

Which of the following s NOT a quote from Napoleon Bonaparte? 

1.  If you wish to be a success in the world, promise everything, deliver nothing.

2.  It is easy to sit up and take notice; what is difficult is getting up and taking action.

3.  The best way to keep ones word is not to give it.

4.  He who knows how to flatter also knows how to slander.

It is easy to sit up and take notice; what is difficult is getting up and taking action.  

(A quote from Honore de Balzac.)

400

Inflation is likely to increase as:

1. Export prices decline

2. The domestic currency appreciates

3. The productivity of labor grows faster than wages

4. The output gap is positive

The output gap, defined as actual minus potential output, is positive

400

To accurately measure the stance of fiscal policy (the part attributable to to intentional government action), which of the following should NOT be a reason for adjusting the measured deficit?

1. The effect of the business cycle.

2. Exchange rate changes.

3. Cancelation of a public investment project.

4. A revaluation of assets of public enterprises.

Cancelation of a public investment project.

400

WILD CARD!!

Which is the state which has the easternmost point of the United States? 

Alaska

Florida

Hawaii

Maine

Alaska

500

Where is the world’s largest desert?

1. Russia

2. Asia

3. Africa

4. Artic

5. Australia

6. Antartica

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Где находится самая большая пустыня в мире?


1. Россия

2. Азия

3. Африка

4. Арктика

5. Австралия

6. Антарктида

Antartica

500

An increase in the rate of growth of GDP means that:

  1. The poverty rate will increase in the country

  2. Income inequality will increase in the country

  3. There will be increased value-added in the economy

  4. There will be higher income only if population growth slows down


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Увеличение темпов роста ВВП означает, что:


1.Уровень бедности в стране увеличится

2. В стране увеличится неравенство доходов

3. Увеличится добавленная стоимость в экономике

4. Доходы будут выше только в том случае, если рост населения замедлится


There will be increased value-added in the economy

500

WILD CARD!!!

What is Paul McCartney’s middle name?

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ВОПРОС-СЮРПРИЗ

Полное имя Пола Маккартни состоит из трех частей. Назовите вторую часть ("среднее имя"). 

Paul

"James Paul McCartney"

500

WILD CARD!!!

Which African Leader said: “We face neither East or West; we face forward”

  1. Julius Nyerere

  2. Desmond Tutu

  3. Kwame Nkrumah

  4. Robert Mugabe

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Кто из африканских лидеров сказал: "Мы не смотрим ни на Восток, ни на Запад; мы смотрим вперед".

1. Джулиус Ньерере

2. Десмонд Туту

3. Кваме Нкрума

4. Роберт Мугабе

Kwame Nkrumah

500

If the real exchange rate of the home country is appreciating, it must be the case that:

  1. Domestic prices of goods and services are rising faster than foreign prices, when expressed in a common currency.

  2. Domestic prices of goods and services are rising slower than foreign prices, when expressed in a common currency.

  3. The nominal exchange rate of the domestic currency has appreciated.

  4. The nominal exchange rate of the foreign currency has appreciated.

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Если реальный валютный курс страны укрепляется, то в этом случае должно происходить следующее:


1. Внутренние цены на товары и услуги растут быстрее, чем цены за рубежом, если они выражены в единой валюте.

2. Внутренние цены на товары и услуги растут медленнее, чем цены за рубежом, если они выражены в единой валюте.

3. Номинальный курс национальной валюты укрепляется.

4. Номинальный курс иностранной валюты укрепляется.


Domestic prices of goods and services are rising faster than foreign prices, when expressed in a common currency.