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宏观经济学第六版课后答案高鸿业版【篇一：宏观经济学第五版课后习题答案(高鸿业版)】>1.宏观经济学和微观经济学有什么联系和区别？为什么有些经济活动从微观看是合理的，有效的，而从宏观看却是不合理的，无效的？解答：两者之间的区别在于：(1)研究的对象不同。
微观经济学研究组成整体经济的单个经济主体的最优化行为，而宏观经济学研究一国整体经济的运行规律和宏观经济政策。
(2)解决的问题不同。
微观经济学要解决资源配置问题，而宏观经济学要解决资源利用问题。
(3)中心理论不同。
微观经济学的中心理论是价格理论，所有的分析都是围绕价格机制的运行展开的，而宏观经济学的中心理论是国民收入(产出)理论，所有的分析都是围绕国民收入(产出)的决定展开的。
(4)研究方法不同。
微观经济学采用的是个量分析方法，而宏观经济学采用的是总量分析方法。
两者之间的联系主要表现在：(1)相互补充。
经济学研究的目的是实现社会经济福利的最大化。
为此，既要实现资源的最优配置，又要实现资源的充分利用。
微观经济学是在假设资源得到充分利用的前提下研究资源如何实现最优配置的问题，而宏观经济学是在假设资源已经实现最优配置的前提下研究如何充分利用这些资源。
它们共同构成经济学的基本框架。
(2)微观经济学和宏观经济学都以实证分析作为主要的分析和研究方法。
(3)微观经济学是宏观经济学的基础。
当代宏观经济学越来越重视微观基础的研究，即将宏观经济分析建立在微观经济主体行为分析的基础上。
由于微观经济学和宏观经济学分析问题的角度不同，分析方法也不同，因此有些经济活动从微观看是合理的、有效的，而从宏观看是不合理的、无效的。
例如，在经济生活中，某个厂商降低工资，从该企业的角度看，成本低了，市场竞争力强了，但是如果所有厂商都降低工资，则上面降低工资的那个厂商的竞争力就不会增强，而且职工整体工资收入降低以后，整个社会的消费以及有效需求也会降低。
同样，一个人或者一个家庭实行节约，可以增加家庭财富，但是如果大家都节约，社会需求就会降低，生产和就业就会受到影响。
第十二章国民收入核算1.宏观经济学和微观经济学有什么联系和区别？为什么有些经济活动从微观看是合理的，有效的，而从宏观看却是不合理的，无效的？解答：两者之间的区别在于：(1)研究的对象不同。
微观经济学研究组成整体经济的单个经济主体的最优化行为，而宏观经济学研究一国整体经济的运行规律和宏观经济政策。
(2)解决的问题不同。
微观经济学要解决资源配置问题，而宏观经济学要解决资源利用问题。
(3)中心理论不同。
微观经济学的中心理论是价格理论，所有的分析都是围绕价格机制的运行展开的，而宏观经济学的中心理论是国民收入(产出)理论，所有的分析都是围绕国民收入(产出)的决定展开的。
(4)研究方法不同。
微观经济学采用的是个量分析方法，而宏观经济学采用的是总量分析方法。
两者之间的联系主要表现在：(1)相互补充。
经济学研究的目的是实现社会经济福利的最大化。
为此，既要实现资源的最优配置，又要实现资源的充分利用。
微观经济学是在假设资源得到充分利用的前提下研究资源如何实现最优配置的问题，而宏观经济学是在假设资源已经实现最优配置的前提下研究如何充分利用这些资源。
它们共同构成经济学的基本框架。
(2)微观经济学和宏观经济学都以实证分析作为主要的分析和研究方法。
(3)微观经济学是宏观经济学的基础。
当代宏观经济学越来越重视微观基础的研究，即将宏观经济分析建立在微观经济主体行为分析的基础上。
由于微观经济学和宏观经济学分析问题的角度不同，分析方法也不同，因此有些经济活动从微观看是合理的、有效的，而从宏观看是不合理的、无效的。
例如，在经济生活中，某个厂商降低工资，从该企业的角度看，成本低了，市场竞争力强了，但是如果所有厂商都降低工资，则上面降低工资的那个厂商的竞争力就不会增强，而且职工整体工资收入降低以后，整个社会的消费以及有效需求也会降低。
同样，一个人或者一个家庭实行节约，可以增加家庭财富，但是如果大家都节约，社会需求就会降低，生产和就业就会受到影响。
<第十二章国民收入核算1.宏观经济学和微观经济学有什么联系和区别为什么有些经济活动从微观看是合理的，有效的，而从宏观看却是不合理的，无效的解答：两者之间的区别在于：(1)研究的对象不同。
微观经济学研究组成整体经济的单个经济主体的最优化行为，而宏观经济学研究一国整体经济的运行规律和宏观经济政策。
(2)解决的问题不同。
微观经济学要解决资源配置问题，而宏观经济学要解决资源利用问题。
(3)中心理论不同。
微观经济学的中心理论是价格理论，所有的分析都是围绕价格机制的运行展开的，而宏观经济学的中心理论是国民收入(产出)理论，所有的分析都是围绕国民收入(产出)的决定展开的。
(4)研究方法不同。
微观经济学采用的是个量分析方法，而宏观经济学采用的是总量分析方法。
两者之间的联系主要表现在：#(1)相互补充。
经济学研究的目的是实现社会经济福利的最大化。
为此，既要实现资源的最优配置，又要实现资源的充分利用。
微观经济学是在假设资源得到充分利用的前提下研究资源如何实现最优配置的问题，而宏观经济学是在假设资源已经实现最优配置的前提下研究如何充分利用这些资源。
它们共同构成经济学的基本框架。
(2)微观经济学和宏观经济学都以实证分析作为主要的分析和研究方法。
(3)微观经济学是宏观经济学的基础。
当代宏观经济学越来越重视微观基础的研究，即将宏观经济分析建立在微观经济主体行为分析的基础上。
由于微观经济学和宏观经济学分析问题的角度不同，分析方法也不同，因此有些经济活动从微观看是合理的、有效的，而从宏观看是不合理的、无效的。
例如，在经济生活中，某个厂商降低工资，从该企业的角度看，成本低了，市场竞争力强了，但是如果所有厂商都降低工资，则上面降低工资的那个厂商的竞争力就不会增强，而且职工整体工资收入降低以后，整个社会的消费以及有效需求也会降低。
同样，一个人或者一个家庭实行节约，可以增加家庭财富，但是如果大家都节约，社会需求就会降低，生产和就业就会受到影响。
第十二章国民收入核算:L宏观经济学和微观经济学有什么联系和区别？为什么有些经济活动从微观看是合理的，有效的，而从宏观看却是不合理的，无效的？解答：两者之间的区别在于：(1)研究的碍不同。
微观经济学研究组成甦体经济的单个经济主体的最优化行为,而宏观经济学研究一国整体经济的运行规律和宏观经济政策。
(2)解决的问题不同。
微观经济学要解决资源配置问题,而宏观经济学要解决资源利用问题。
(3)中心理论不同。
微观经济学的中心理论是价格理论，所有的分析都是围绕价格机制的运行展开的,而宏观经济学的中心理论是国民收入(产出)理论，所有的分析都是围绕国民收入(产出)的决走展开的。
(4)研究方法不同。
微观经济学采用的是个星分析方法，而宏观经济学采用的是总星分析方法。
两者之间的联系主要表现在：(1)相互补充。
经济学硏究的目的是实现社会经济福利的最大化。
为此，既要实现资源的最优配置，又要实现资源的充分利用。
微观经济学是在假设资源得到充分利用的前提下研究资源如何实现最优配置的问题，而宏观经济学是在假设资源已经实现最优配置的前提下研究如何充分利用这些资源。
它们共同构成经济学的基本框架。
(2)微观经济学和宏观经济学都以实证分析作为主要的分析和硏究方法。
(3)微观经济学是宏观经济学的基础。
当代宏观经济学越来越重视微观基础的硏究，即j各宏观经济分析建立在微观经济主体行为分析的基础上。
由于微观经济学和宏观经济学分析问题的角度不同，分析方法也不同，因此有些经济活动从微观看是合理的、有效的,而从宏观看是不合理的、无效的。
例如,在经济生活中，某个厂商降｛氐工资,从该企业的角度看,成本低了，市场竞争力强了，但是如果所有厂商都降低工资贝!)上面昭氐工资的那个厂商的竞争力就不会增强，而且职工整体工资收入降低以后, 整个社会的消费以及有效需求也会降低。
同样，一个人或者一个家庭实行节约,可以增加家庭财冨，但是如果大家都节约，社会需求就会降｛氐，生产和就业就会受到影响。
第十二章国民收入核算1.宏观经济学和微观经济学有什么联系和区别？为什么有些经济活动从微观看是合理的，有效的，而从宏观看却是不合理的，无效的？解答：两者之间的区别在于：(1)研究的对象不同。
微观经济学研究组成整体经济的单个经济主体的最优化行为，而宏观经济学研究一国整体经济的运行规律和宏观经济政策。
(2)解决的问题不同。
微观经济学要解决资源配置问题，而宏观经济学要解决资源利用问题。
(3)中心理论不同。
微观经济学的中心理论是价格理论，所有的分析都是围绕价格机制的运行展开的，而宏观经济学的中心理论是国民收入(产出)理论，所有的分析都是围绕国民收入(产出)的决定展开的。
(4)研究方法不同。
微观经济学采用的是个量分析方法，而宏观经济学采用的是总量分析方法。
两者之间的联系主要表现在：(1)相互补充。
经济学研究的目的是实现社会经济福利的最大化。
为此，既要实现资源的最优配置，又要实现资源的充分利用。
微观经济学是在假设资源得到充分利用的前提下研究资源如何实现最优配置的问题，而宏观经济学是在假设资源已经实现最优配置的前提下研究如何充分利用这些资源。
它们共同构成经济学的基本框架。
(2)微观经济学和宏观经济学都以实证分析作为主要的分析和研究方法。
(3)微观经济学是宏观经济学的基础。
当代宏观经济学越来越重视微观基础的研究，即将宏观经济分析建立在微观经济主体行为分析的基础上。
由于微观经济学和宏观经济学分析问题的角度不同，分析方法也不同，因此有些经济活动从微观看是合理的、有效的，而从宏观看是不合理的、无效的。
例如，在经济生活中，某个厂商降低工资，从该企业的角度看，成本低了，市场竞争力强了，但是如果所有厂商都降低工资，则上面降低工资的那个厂商的竞争力就不会增强，而且职工整体工资收入降低以后，整个社会的消费以及有效需求也会降低。
同样，一个人或者一个家庭实行节约，可以增加家庭财富，但是如果大家都节约，社会需求就会降低，生产和就业就会受到影响。
宏观经济学第六版课后答案高鸿业版【篇一：宏观经济学第五版课后习题答案(高鸿业版)】>1.宏观经济学和微观经济学有什么联系和区别？为什么有些经济活动从微观看是合理的，有效的，而从宏观看却是不合理的，无效的？解答：两者之间的区别在于：(1)研究的对象不同。
微观经济学研究组成整体经济的单个经济主体的最优化行为，而宏观经济学研究一国整体经济的运行规律和宏观经济政策。
(2)解决的问题不同。
微观经济学要解决资源配置问题，而宏观经济学要解决资源利用问题。
(3)中心理论不同。
微观经济学的中心理论是价格理论，所有的分析都是围绕价格机制的运行展开的，而宏观经济学的中心理论是国民收入(产出)理论，所有的分析都是围绕国民收入(产出)的决定展开的。
(4)研究方法不同。
微观经济学采用的是个量分析方法，而宏观经济学采用的是总量分析方法。
两者之间的联系主要表现在：(1)相互补充。
经济学研究的目的是实现社会经济福利的最大化。
为此，既要实现资源的最优配置，又要实现资源的充分利用。
微观经济学是在假设资源得到充分利用的前提下研究资源如何实现最优配置的问题，而宏观经济学是在假设资源已经实现最优配置的前提下研究如何充分利用这些资源。
它们共同构成经济学的基本框架。
(2)微观经济学和宏观经济学都以实证分析作为主要的分析和研究方法。
(3)微观经济学是宏观经济学的基础。
当代宏观经济学越来越重视微观基础的研究，即将宏观经济分析建立在微观经济主体行为分析的基础上。
由于微观经济学和宏观经济学分析问题的角度不同，分析方法也不同，因此有些经济活动从微观看是合理的、有效的，而从宏观看是不合理的、无效的。
例如，在经济生活中，某个厂商降低工资，从该企业的角度看，成本低了，市场竞争力强了，但是如果所有厂商都降低工资，则上面降低工资的那个厂商的竞争力就不会增强，而且职工整体工资收入降低以后，整个社会的消费以及有效需求也会降低。
同样，一个人或者一个家庭实行节约，可以增加家庭财富，但是如果大家都节约，社会需求就会降低，生产和就业就会受到影响。
Chapter 11. a.True. b.True. c.False. d.True. e.False. f.False.2. a. 1960-98 1997-99-------------------US 3.1% 3.8%EU 3.1% 2.5%Japan 5.8%-1.0%While the US growth rate higher than its long-run average over the period, the growth rate has slowed relative to long-run averages in both the EU and Japan over the last few years.b. Sometimes the economy is growing quickly, other times it is growing slowly or even contracting. The last few years of rapid growth in the US do not imply that the long-run average rate of growth has increased back to its pre-1974 level.3. a. The data in the web page are: Real Gross Domestic Product,Real Final Sales of Domestic Product, and Real Gross National Product, Quarterly, 1959-96[Percent change from preceding quarter]--------------------------------------------------------Gross Final sales Grossdomestic of domestic nationalproduct product product-------------------------------------------------------1959: I 8.6 9.2 8.6II11.27.311.1III-0.3 5.3-0.2IV 1.7-1.3 1.91996: I 1.8 2.6 1.8II 6.0 5.2 5.7III 1.00.20.6IV 4.3 4.5 4.9--------------------------------------------------------suggesting that recessions typically last two-three quarters and that the most severe recessions in that period were the recessions of 1974-75 and 1981-82.b. Percentage Changes in:Output GrowthInflation1968: 4.7 4.4I7.5 4.7II7.1 4.1III 3.0 3.8IV 1.8 5.51969: 3.0 4.7I 6.2 3.8II 1.0 5.0III 2.3 5.8IV-2.0 5.11970: 0.1 5.3I-0.7 6.0II0.6 5.7III 3.7 3.4IV-3.9 5.41971: 3.3 5.2I11.3 6.4II 2.3 5.5III 2.6 4.4IV 1.1 3.3If history simply repeats itself, the United States might have a short recession (lasting perhaps oneyear) accompanied by an acceleration in the rate of inflation by about one percentage point.4. a. Banking services, business services.b. Not only has the relative demand for skilled workers increased but the industries wherethis effect is the strongest are making up a greater fraction of the economy.5. 1. Low unemployment might lead to an increase in inflation.2. Although measurement error certainly contributes to the measured slowdown ingrowth, there are other issues to consider as well, including the productivity of newresearch and accumulation of new capital.3. Although labor market rigidities may be important, it is also important to consider thatthese rigidities may not be excessive, and that high unemployment may arise from flawed macroeconomic policies.4. Although there were serious problems with regard to the management of Asian financial systems, it is important to consider the possibility that the flight of foreign capital from thesecountries worsened the situation by causing a severe stock market crash and exchange rate depreciation.5. Although the Euro will remove obstacles to free trade between European countries,each country will be forced to give up its own monetary policy.* 6. a. From Chapter 1: US output 1997=$8b; Ch ina output 1996=$.84b. Note that China’s outputin 1997 is $(.84)*(1.09) b. Equating output for some time t in the future:8*(1.03)t=(.84*1.09)*(1.09)t8/(.84*1.09)=(1.09/1.03)t8.737=(1.058)tt =ln(8.737)/ln(1.058) H38yrsb. From Chapter 1: US output/worker in 1997=$29,800; China output/per worker in1996=$70029.8*(1.03)t=(.7*1.09)*(1.09)tt H65 yearsChapter 21. a. False.b. Uncertain: real or nominalGDP. c. True.d. True.e. False. The level of the CPI means nothing. Its rate of change tells us about inflation.f. Uncertain. Which index is better depends on what we are trying to measure—inflationfacedby consumers or by the economy as a whole.2. a. +$100; Personal ConsumptionExpenditures b. nochange:intermediategoodc. +$200 million; Gross PrivateDomesticFixedInvestmentd. +$200 million; Net Exportse. no change: the jet was already counted when it was produced, i.e., presumably whenDelta(or some other airline) bought it new as an investment.*3. a. Measured GDP increases by $10+$12=$22.b. True GDP should increase by much less than $22 because by working for an extra hour,you are no longer producing the work of cooking within the house. Since cooking within the house is a final service, it should count as part of GDP. Unfortunately, it is hard to measure the value of work within the home, which is why measured GDP does not include it.4. a. $1,000,000 the value of the silver necklaces.b. 1st Stage:$300,000.2ndStage:$1,000,00-$300,000=$700,000.GDP: $300,000+$700,000=$1,000,000.c. Wages: $200,000 + $250,000=$450,000.Profits: ($300,000-$200,000)+($1,000,000-$250,000-300,000)=$100,000+$450,000=$550,000.GDP:$450,000+$550,000=$1,000,000.5. a. 1998 GDP: 10*$2,000+4*$1,000+1000*$1=$25,0001999 GDP: 12*$3,000+6*$500+1000*$1=$40,000Nominal GDP has increased by 60%.b. 1998 real (1998) GDP: $25,0001999 real (1998) GDP: 12*$2,000+6*$1,000+1000*$1=$31,000Real (1998) GDP has increased by 24%.c. 1998 real (1999) GDP: 10*$3,000+4*$500+1,000*$1=$33,0001999 real (1999) GDP: $40,000.Real (1999) GDP has increased by 21.2%.d. True.6. a. 1998 base year:Deflator(1998)=1; Deflator(1999)=$40,000/$31,000=1.29Inflation=29%b. 1999 base year:Deflator(1998)=$25,000/$33,000=0.76; Deflator(1999)=1Inflation=(1-0.76)/0.76=.32=32% c. Yes7. a. 1998 real GDP = 10*$2,500 + 4*$750 + 1000*$1 = $29,0001999 real GDP = 12*$2,500 + 6*$750 + 1000*$1 = $35,500b. (35,500-29,000)/29,000 = .224 = 22.4%c. Deflator in 1998=$25,000/$29,000=.86Deflator in 1999=$40,000/$35,500=1.13Inflation = (1.13 -.86)/.86 = .314 = 31.4%.8. a. The quality of a routine checkup improves over time. Checkups now may includeEKGs, for example. Medical services are particularly affected by this problem due toconstant improvements in medical technology.b. You need to know how the market values pregnancy checkups with and withoutultra-sounds in that year.c. This information is not available since all doctors adopted the new technologysimultaneously. Still, you can tell that the quality adjusted increase will be lower than20%.*9. a. approximately 2.5% b. 1992 real GDP growth: 2.7%;unemployment rate Jan 92: 7.3%; unemployment rate Jan 93: 7.3%Supports Okun's law because the unemployment rate does not change when the growth rate of real GDP is near 2.5% c. -2 percentage points change in the unemployment rate; 5percent GDP growth d. The growth rate of GDP must increase by 2.5 percentage points.Chapter 31. a. True.b. False. Government spending was 18% if GDP without transfers.c. False. The propensity to consume must be less than one for our model to be welldefined.d.True.false.f. False. The increase in output is one times the multiplier.2. a. Y=160+0.6*(Y-100)+150+150 0.4Y=460-60 Y=1000b. Y D=Y-T=1000-100=900c. C=160+0.6*(900)=7003. a. No. The goods market is not in equilibrium. Frompart 2a, Demand=1000=C+I+G=700+150+150b. Yes. The goods market is in equilibrium.c. No. Private saving=Y-C-T=200. Public saving =T-G=-50. National saving (or inshort, saving) equals private plus public saving, or 150. National saving equalsinvestment.4. a. Roughly consistent. C/Y=700/1000=70%; I/Y=G/Y=150/1000=15%.b. Approximately -2%.c. Y needs to fall by 2%, or from 1000 to 980. The parameter c0needs to fall by20/multiplier,or by 20*(.4)=8. So c0needs to fall from 160 to 152.d. The change in c0(-8) is less than the change in GDP (-20) due to the multiplier.5. a. Y increases by 1/(1-c1) b. Y decreases by c1/(1- c1)c. The answers differ because spending affects demand directly, but taxes affectdemand through consumption, and the propensity to consume is less than one.d. The change in Y equals 1/(1-c1) - c1/(1- c1) = 1. Balanced budget changes in G and Tare not macroeconomically neutral.e. The propensity to consume has no effect because the balanced budget tax increase abortsthe multiplier process. Y and T both increase by on unit, so disposable income, and hence consumption, do not change.*6. a. The tax rate ilessthanone.b.Y=c0+c1Y D+I+G impliesY=[1/(1-c1+c1t1)]*[c0-c1t0+I+G]c. The multiplier = 1/(1-c1+c1t1) <1/(1- c1), so the economy responds less to changes inautonomous spending when t1is positive.d. Because of the automatic effect of taxes on the economy, the economy responds less tochanges in autonomous spending than in the case where taxes are independent of income. So output tends to vary less, and fiscal policy is called an automatic stabilizer.*7. a. Y=[1/(1-c1+c1t1)]*[c0-c1t0+I+G] b. T = c1t0+ t1*[1/(1-c1+c1t1)]*[c0-c1t0+I+G]c. Both Y and T decrease.d. If G is cut, Y decreases even more.Chapter 41.a.True.b.Fals.c.True.d.True.e.False.f.False.g.True.2. a. i=0.05: Money demand = $18,000; Bond demand = $32,000i=.1: Money demand = $15,000; Bond demand = $35,000b. Money demand decreases when the interest rate increases; bond demand increases. Thisis consistent with the text.c. The demand for money falls by 50%. d. The demand formoney falls by 50%.e. A 1% increase (decrease) in income leads to a 1% increase (decrease) in money demand.This effect is independent of the interest rate.3. a. i=100/$P B–1; i=33%; 18%; 5% when $P B=$75; $85; $95.b. Negative.c. $P B=100/(1.08) $934. a. $20=M D=$100*(.25-i) i=5%b. M=$100*(.25-.15)M=$105. a. B D= 50,000 - 60,000 (.35-i)An increase in the interest rate of 10% increases bond demand $6,000.b. An increase in wealth increases bond demand, but has no effect on money demand.c. An increase in income increases money demand, but decreases bond demand.d. When people earn more income, this does not change their wealth right away. Thus,they increase their demand for money and decrease their demand for bonds.6. a. Demand for high-powered money=0.1*$Y*(.8-4i)b. $100 b = 0.1*$5,000b*(.8-4i) i=15%c. M=(1/.1)*$100 b=$1,000 b M= M d at the interest derived in part b.6. d. If H increases to $300, falls to 5%.e. M=(1/.1)*$300 b=$3,000 b7. a. $16 is withdrawn on each trip to the bank.Money holdings—day one: $16; day two: $12; day three: $8; day four: $4.b. Average money holdings are $10.c. $8 dollar withdrawals; money holdings of $8; $4; $8; $4.d. Average money holdings are $6.e. $16 dollar withdrawals; money holdings of $0; $0; $0; $16.f. Average money holdings are $4.g. Based on these answers, ATMs and credit cards have reduced money demand.8. a. velocity=1/(M/$Y)=1/L(i)b. Velocity roughly doubled between the mid 1960s and the mid 1990s.c. ATMS and credit cards reduced L(i) so velocity increased.Chapter 51.a.Trub.Truc.Fal.d. False. The balanced budget multiplier is positive (it equals one), so the IS curve shiftsright.e. False.f. Uncertain. An increase in G leads to an increase in Y (which tends to increaseinvestment), but an increase in the interest rate (which tends to reduce investment).g. True.*2. Firms deciding how to use their own funds will compare the return on bonds to the return on investment. When the interest rate on bonds increases, they become more attractive, and firms are more likely to use their funds to purchase bonds, rather than to finance investment projects.a.Y=[1/(1-c1)]*[c0-c1T+I+G]The multiplier is 1/(1-c1).b. Y=[1/(1-c1-b1)]*[c0-c1T+ b0-b2i +G]The multiplier is 1/(1-c1-b1). Since the multiplier is larger than the multiplier in part a, the effect of a change in autonomous spending is bigger than in part a.c. Substituting for the interest rate in the answer to partb: Y=[1/(1-c1-b1+ b2d1/d2)]*[c0-c1T+ b0+(b2*M/P)/d2+G]The multiplier is 1/(1-c1-b1+ b2d1/d2).d. The multiplier is greater (less) than the multiplier in part a if (b1- b2d1/d2) is greater (less)than zero. The multiplier is big if b1is big, b2is small, d1is small, and/or d2is big, i.e., if investment is very sensitive to Y, investment is not very sensitive to i, money demand is not very sensitive to Y, money demand is very sensitive to i.4. a. The IS curve shifts left. Output and the interest rate fall. The effect on investmentis ambiguous because the output and interest rate effects work in opposite directions: the fall in output tends to reduce investment, but the fall in the interest rate tends to increase it.b. From 3c: Y=[1/(1-c1-b1)]*[c0-c1T+ b0-b2i +G]c. From the LM relation: i= Y*d1/d2–(M/P)/d2To obtain the equilibrium interest rate, substitute for Y from part b.d. I= b0+ b1Y- b2i= b0+ b1Y- b2Y* d1/d2+ b2(M/P)/d2To obtain equilibrium investment, substitute for Y from part b.e. Holding M/P constant, I increases with equilibrium output when b1>b2d1/d2.Since a decrease in G reduces output, the condition under which a decrease in G increases investment is b1<b2d1/d2.f. The interpretation of the condition in part e is that the effect on I from Y has to be lessthan the effect from i after controlling for the endogenous response of i and Y, determined by the slope of the LM curve, d1/d2.5. a. Y=C+I+G=200+.25*(Y-200)+150+.25Y-1000i+250Y=1100-2000ib.M/P=1600=2Y-8000i i=Y/4000-1/5c. Substituting b into a: Y=1000d. Substituting c into b: i=1/20=5%e. C=400; I=350; G=250; C+I+G=1000f. Y=1040; i=3%; C=410; I=380. A monetary expansion reduces the interest rate andincreases output. The increase in output increases consumption. The increase in output and the fall in the interest rate increase investment.g. Y=1200; i=10%; C=450; I=350. A fiscal expansion increases output and the interestrate. The increase in output increases consumption.h. The condition from problem 3 is satisfied with equality (.25=1000*(2/8000)), socontractionary fiscal policy will have no effect on investment. When G=100: i=0%;Y=800; I=350; and C=350.*6. a. The LM curve is flatb. Japan was experiencing a liquidity trap. c. Fiscal policy is more effective.7. a. Increase G (or reduce T) and increase M.b. Reduce G (or increase T) and increase M. The interest rate falls. Investment increases,since the interest rate falls while output remains constant.CHAPTER 61.a.Fals.b.Fals.c.Falsd.False.Truf.Falsg.Uncertaih.True.i. False.2. a. (Monthly hires+monthly separations)/monthly employment =6/93.8=6.4%b. 1.6/6.5=25%c. 2.4/6.5=37%. Duration is 1/.37 or 2.7 months.d. 4.9/57.3=9%.e. new workers: .35/4.9=7%; retirees: .2/4.9=4%.3. a and b. Answers will depend on when the page is accessed.c. The decline in unemployment does not equal the increase in employment, because thelabor force is not constant. It has increased over the period.4. a. 66%; 66%*66%*66%= 29%; (66%)6= 8%b. (66%)6= 8%c. (for 1998): 875/6210= .145. a. Answers will vary.b and c. Most likely, the job you will have ten years later will pay a lot more thanyour reservation wage at the time (relative to your typical first job).d. The later job is more likely to require training and will probably be a much harderjob to monitor. So, as efficiency wage theory suggests, your employer will be willing to pay a lot more than your reservation wage for the later job, to ensure low turnover and low shirking.6. a. The computer network administrator has more bargaining power. She is muchharder to replace.6. b. The rate of unemployment is a key statistic. For example, when there are manyunemployed workers it becomes easier for firms to find replacements. This reduces the bargaining power of workers.7. a. W/P=1/(1+ )=1/1.05=.95 b. Price setting: u=1-W/P=5%c. W/P=1/1.1=.91; u=1-.91=9%. The increase in the markup lowers the real wage.From the wage-setting equation, the unemployment rate must rise for the real wage to fall.So the natural rate increases.CHAPTER 71.a.Trub.Trc.Falsd.Fale.Truf.Falg.Fal2. a. IS right, AD right, AS up, LM up, Y same, i up, P upb. IS left, AD left, AS down, LM down, Y same, i down, P down3. a.WS PS AS AD LM IS Y i PShort run:up same up same up same down up upMedium run:up same up same up same down up upb.WS PS AS AD LM IS Y i PShort run:same up down same down same up down downMedium run:same up down same down same up down down4. a. After an increase in the level of the money supply, output and the interest-rate eventually return to the same level. However, monetary policy is useful, because it can accelerate the return to the natural level of output.b. In the medium run, investment and the interest rate both change with fiscal policy.c. False. Labor market policies, such as unemployment insurance, can affect the naturallevel of output.*5. a. Open answer. Firms may be so pessimistic about sales that they do not want to borrow at any interest rate.b. The IS curve is vertical; the interest rate does not affect equilibrium output.c. No change.d. The AD curve is vertical; the price level does not affect equilibrium output.e. The increase in z reduces the natural level of output and shifts the AS curve up. SincetheAD curve is vertical, output does not change, but prices increase. Note that output is above its natural level.f. The AS curve shifts up forever, and prices keep increasing forever. Output does notchange, and remains above its natural level forever.6. a. The natural level of output is Y n. Assuming that output starts at is naturallevel, P0= M0- (1/c)*Y nb. Assuming that P e=P0: Y = 2cM0-cP=2cM0-cP0-cdY+cdY nRecalling that Y n=c(M0-P0): Y= Y n+ (c/(1+c d))*M0c. Investment goes up because output is higher and the interest rate is lower.d. In the medium run, Y = Y ne. In the medium run, investment returns to its previous level, because output and the interestrate return to their previous levels.CHAPTER 81.a.Trb.Fac.Fad.Tre.Faf.Tr2. a. No. In the 1970s, we experienced high inflation and high unemployment. The expectations- augmented Phillips curve is a relationship between inflation and unemployment conditional on the natural rate and inflation expectations. Given inflation expectations,increases in the natural rate (which result from adverse shocks to labor market institutions—increases in z—or from increases in the markup—which encompass oil shocks) lead to an increase in both theunemployment rate and the inflation rate. In addition, increases in inflation expectations imply higher inflation for any level of unemployment and tend to increase the unemployment rate inthe short run (think of an increase in the expected price level, given last period’s price,in the AD-AS framework). In the 1970s, both the natural rate and expected inflation increased, so both unemployment and inflation were relatively high.b. No. The expectations-augmented Phillips curve implies that maintaining a rate ofunemployment below the natural rate requires increasing (not simply high) inflation. This is because inflation expectations continue to adjust to actual inflation.3. a. u n=0.1/2 =5%b. t=0.1-2*.03 = 4% every year beginning with year t.c. e= 0 and =4% forever. Inflation expectations will be forever wrong. This isunlikely.t td. ⎝ might increase because pe ople’s inflation expectations adapt to persistently positiveinflation. The increase in ⎝ has no effect on u n.e. 5= 4+.1-.06=4%+4%=8%For t>5, repeated substitution implies, t= 5+(t-5)*4%.So, 10=28%; 15=48%.f. Inflation expectations will again be forever wrong. This is unlikely.4. a. t= t-1+ 0.1 - 2u t= t-1+ 2%t=2%; t+1=4%; t+2=6%; t+3=8%.b. t=0.5 t+ 0.5 t-1+ 0.1 - 2u tor, t= t-1+ 4%4. c. t=4%; t+1=8%; t+2=12%; t+3=16%d. As indexation increases, low unemployment leads to a larger increase in inflation overtime.5. a. A higher cost of production means a higher markup.b. u n=(0.08+0.1⎧)/2; Thus, the natural rate of unemployment increases from 5% to 6% as⎧increases from 20% to 40%.6. a. Yes. The average rate of unemployment is down. In addition, the unemploymentrate is at a historical low and inflation has not risen.b. The natural rate of unemployment has probably decreased.7. An equation that seems to fit well is: t- t-1=6-u t, which implies a natural rate of approximately 6%.8. The relationships imply a lower natural rate in the more recent period. CHAPTER 91. F TT F FT TT2. a. The unemployment rate will increase by 1% per year when g=0.5%. Unemploymentwill increase unless the growth rate exceeds the sum of productivity growth and labor force growth.b. We need growth of 4.25% per year for each of the next four years.c. Okun’s law is likely to beco me: u t-u t-1=-0.4*(g yt-5%)3. a. u n= 5%b. g yt= 3%; g mt=g yt+ t= 11%c. u g yt g mtt-1:8%5%3%11%t:4%9%-7%-3%t+1:4%5%13%17%t+2:4%5%3%7%4. a. t- t-1= -(u t-.05)u t- u t-1= -.4*(g mt- t-.03)b. t=6.3%; u t=8.7%t+1=1%; u t+1=10.3%c. u=5%; g y=3%; =-3%;5. a. See text for full answer. Gradualism reduces need for large policy swings, with effectsthat are difficult to predict, but immediate reduction may be more credible and encourage rapid, favorable changes in inflation expectations. On the other hand, the staggering ofwagedecisions suggests that, if the policy is credible, a gradual disinflation is the optionconsistent with no change in the unemployment rate.b. Not clear, probably fast disinflation, depending on the features inc.5. c. Some important features: the degree of indexation, the nature of the wage-settingprocess, and the initial rate of inflation.*6. a. u n=K/2; sacrifice ratio=.5 b. t=10%; t+1=8%; t+2=6%; t+3=4%; t+4=2%c. 5 years; sacrifice ratio=(5 point years of excess unemployment)/(10 percentage pointreduction in inflation)=.5d. t=7.5%; t+1=4.125%; t+2=1.594%; 3 years of higher unemployment for a reduction of10%: sacrifice ratio=0.3 e. t+1f. Take measures to enhance credibility.7. a. Inflation will start increasing.b.It should let unemployment increase to its new, higher, natural rate.Chapter 101. TTTFFFTU2. a. Example: France: (1.042)48*5.150=$37.1 k.Germany: $43.4 k; Japan: $76.5 k; UK: $22.5 k; U.S.:$31.7k b. 2.4c. yes.3. a. $5,000b. 2,500 pesos c. $500d. $1,000e. Mexican standard of living relative to the U.S.—exchange rate method:1/10; PPP method: 1/54. a. Y=63b. Y doubles. c. Yes.d. Y/N=(K/N)1/2e. K/N=4 implies Y/N=2. K/N=8 implies Y/N=2.83. Output less than doubles.f. No.g. No. In part f, we are looking at what happens to output when we increasecapital only, not capital and labor in equal proportion. There are decreasing returns tocapital.h. Yes.5. The United States was making the most important technical advances. However, theother countries were able to make up much of their technological gap by importing thetechnologies developed in the United States, and hence, have higher technological progress.6.Convergence for the France, Belgium, and Italy; no convergence for the second set ofcountriesChapter 111. a. Uncertain. True if saving includes public and private saving. False if saving onlyincludes private saving.b. False.c.Uncert UTFFd2. a. No. (1) The Japanese rate of growth is not so high anymore. (2) If the Japanesesaving rate has always been high, then this cannot explain the difference between the rate of growth inJapan and the US in the last 40 or 50 years. (3) If the Japanese saving rate has been higher thanit used to be, then this can explain some of the high Japanese growth. The contribution of high saving to growth in Japan should, however, come to an end.3. After a decade: higher growth rate. After five decades: growth rate back to normal, higher level of output per worker.4. a. Higher saving. Higher output per workerb. Same output per worker. Higher output per capita.5.*YYYd. Y/N = (K/N)1/3e. In steady state, sf(K/N) = ™K/N, which, given the production function in part d,implies: K/N=(s/™)3/2f. Y/N =(s/™)1/2g. Y/N = 2h. Y/N = 21/26.* a. 1b. 1c. K/N=.35; Y/N=.71d. Using equation (11.3), the evolution of K/N is: 0.9, 0.82, 0.757. a. K/N=(s/(2™))2; Y/N=s/(4™) b. C/N=s(1-s)/(4™)c-e. Y/N increases with s; C/N increases until s=.5, then decreases. CHAPTER 121.TFTFTFTUF2. a. Lower growth in poorer countries. Higher growth in rich countries.b. Increase in R&D and in output growth.c. A decrease in the fertility of applied research; a (small) decrease in growth.d. A decrease in the appropriability of drug research. A drop in the development of newdrugs. Lower technological progress and lower growth.3. See discussion in section 12.2.4. Examples will vary. Weakening patent protection would accelerate diffusion, but mightalso discourage R&D.5. a. Year 1: 3000; Year 2: 3960b. Real GDP: 3300; output growth: 10%c. 20%d. Real GDP/Worker=30 in both years; productivity growth is zero.e. RealGDP:3990;outputgrowth:33%.f. -0.8%g. Proper measurement implies real gdp/worker=36.3 in year 2. With improper measurement, productivity growth would be 21 percentage points lower and inflation 21% points higher.6. a. Both lead to an initial decrease in growthb. Only the first leads to a permanent decrease in growth7. a. (K/(AN))*=(s/(™+g A+g N))2=1; (Y/(AN))*=(1)1/2; g Y/(AN)=0; g Y/N=4%; g Y=6%b. (K/(AN))=(4/5)2; (Y/(AN))*=(4/5); g Y/(AN)=0; g Y/N=8%; g Y=10%c. (K/(AN))=(4/5)2; (Y/(AN))*=(4/5); g Y/(AN)=0; g Y/N=4%; g Y=10%People are better off in case a. Given any set of initial values, the level of technology is the same in cases a and c, but the level of capital per effective worker is higher atevery point in time in case a. Thus, since Y/N=A*(Y/(AN))=A*(K/(AN))1/2, output per worker is always higher in case a.8. There is a slowdown in growth and the rate of technological progress in the modernperiod. Japan’s growth rate of technological progress is higher because it is catching upto the U.S. level of technology. Not all of the difference in growth rates of output per worker is attributable to the difference in rates of technological progress. A big part is attributable to the difference in rates of growth of capital per worker.9.* a. ProbablyaffectsA.Thinkofclimate.b.Affects H.c. Affects A. Strong protection tends to encourage more R&D but also to limit diffusion of technology.d. May affect A through diffusion.e. May affect K, H, and A. Lower tax rates increase the after-tax return on investment,and thus tend to lead to more accumulation of K and H and more R&D spending.f. If we interpret K as private capital, than infrastructure affects A—e.g., bettertransportation networks may make the economy more productive by reducing congestion time.g. Assuming no technological progress, lower population growth implies highersteady-state level of output per worker. Lower population growth leads to higher capital per worker. Ifthere is technological progress, there is no steady-state level of output per worker. In this case, however, lower population growth implies that output per worker will be higher at every point in time, for any given path of technology. See the answer to problem 7c.Chapter 131.FFTTTTTTF2. a. u=1-(1/(1+⎧))(A/A e)b. u=1-(1/(1+⎧))=4.8%c. No. Since wages adjust to expected productivity, an increase in productivityeventuallyleads to equiproportional increases in the real wage implied by wage setting and price setting, at the original natural rate of unemployment. So equilibrium can bemaintained without any change in the natural rate of unemployment.3.* a. P=P e(1+⎧)(A e/A)(Y/L)(1/A)b. AS shifts down. Given A e/A=1, an increase in A implies a fall in P, given Y. Thisoccurs because for a given level of Y, unemployment is higher, so wages are lower and so, in turn, is the price level.c. There is now an additional effect, a fall in A e/A. In effect, workers do not receive asmuchof an increase in wages as warranted by the increase in productivity. Compared to part b, nominal wages are lower, leading to a lower value of P given Y.4. Discussion question.5. a. Reduce the gap, if this leads to an increase in the relative supply of skilled workers.b. Reduce the gap, since it leads to a decrease in the relative supply of unskilled workers.c. Reduce the gap, since it leads to an increase in the relative supply of skilled workers.d. Increase the gap, if U.S. firms hire unskilled workers in Central America, since itreduces the relative demand for U.S. unskilled workers.6. a. Textiles production is moving to low wage countries.b. Possibly demographic changes, increased availability of child care outside the home,decline in labor supply for these positions.c. Technological progress.7. Discussion question.CHAPTER 14。
Ⅱ中期第6章劳动力市场一、概念题1．非社会公共机构的平民人口（non institutional civilian population）答：非社会公共机构的平民人口是指总人口中除去低于工作年龄的人口（16岁以下）、军队服役和监狱服刑的人口外所剩余的人口。
2．劳动力，非劳动力（labor force ，out of the labor force）答：(1)劳动力指一国或地区法定劳动年龄以上的，或者在工作，或者在积极寻找工作，或者因为暂时失业而等待重新得到工作的所有人。
劳动力包括失业者和就业者。
一国劳动力的规模取决于人口总量、人口结构、劳动力参工率以及移民等因素。
劳动力是既包括就业者又包括失业者的工人总量，用公式可以表示为：劳动力＝就业者人数＋失业者人数。
(2)非劳动力指一国人口中不工作也不找工作的那部分人。
需要注意的是，失业者属于劳动力而不是非劳动力，同时非劳动力是一个动态的概念，一部分失业者可能因为较长时期的失业丧失了劳动能力而成为非劳动力。
成年人口的增加将减少非劳动力的数量，退休人口增加将增加非劳动力的数量。
3．参工率（participation rate）答：劳动力参工率是指劳动力人数与属于劳动年龄人口总数的比率。
这一统计指标反映了劳动年龄人口中选择参与劳动市场的人的比率。
劳动力参工率用公式表示为：100%=⨯劳动力人数劳动力参工率劳动年龄人口总数劳动力参工率主要取决于经济发展水平和教育的发达程度。
影响这一指标的重要因素是劳动资源中从事家务劳动的人数和正在接受教育的学生人数。
国民经济的发展和科学技术在生产过程中的广泛运用，对劳动者的文化技术水平提出了更高的要求，劳动者接受教育的时间延长，劳动资源中受教育的人所占比重上升。
因此，在经济发达国家，劳动力参工率有稍许下降的趋势。
4．失业率（unemployment rate）答：失业率是指失业人数占劳动力人数的比率。
失业率是劳工统计中用来反映一国或一个地区失业程度的主要指标。
