曼昆经济学原理宏观第28章

Chapter 28Problems and Applications1. The labor force consists of the number of employed (142,076,000) plus the number of unemployed(7,497,000), which equals 149,573,000.To find the labor-force participation rate, we need to know the size of the adult population. Adding the labor force (149,573,000) to the number of people not in the labor force (76,580,000) gives the adult population of 226,153,000. The labor-force participation rate is the labor force (149,573,000) divided by the adult population (226,153,000) times 100%, which equals 66%.The unemployment rate is the number of unemployed (7,497,000) divided by the labor force(149,573,000) times 100%, which equals 5.0%.2. Many answers are possible.3. Men age 55 and over experienced the greatest decline in labor-force participation. This wasbecause of increased Social Security benefits and retirement income, encouraging retirement at an earlier age.4. Younger women experienced a bigger increase in labor-force participation than older womenbecause more of them have entered the labor force (in part because of social changes), so there are more two-career families. In addition, women have delayed having children until later in life and have reduced the number of children they have, so they are in the labor force for a greater proportion of their lives than was the case previously.5. The fact that employment increased 1.5 million while unemployment declined 0.6 million isconsistent with growth in the labor force of 0.9 million workers. The labor force constantlyincreases as the population grows and as labor-force participation increases, so the increase in the number of people employed may always exceed the reduction in the number unemployed.6. a. A construction worker who is laid off because of bad weather is likely to experienceshort-term unemployment, because the worker will be back to work as soon as theweather clears up.b. A manufacturing worker who loses her job at a plant in an isolated area is likely toexperience long-term unemployment, because there are probably few other employmentopportunities in the area. She may need to move somewhere else to find a suitable job,which means she will be out of work for some time.c. A worker in the stagecoach industry who was laid off because of the growth of railroads islikely to be unemployed for a long time. The worker will have a lot of trouble findinganother job because his entire industry is shrinking. He will probably need to gainadditional training or skills to get a job in a different industry.d. A short-order cook who loses his job when a new restaurant opens is likely to find anotherjob fairly quickly, perhaps even at the new restaurant, and thus will probably have only ashort spell of unemployment.e. An expert welder with little education who loses her job when the company installsautomatic welding machinery is likely to be without a job for a long time, because she lacksthe technological skills to keep up with the latest equipment. To remain in the weldingindustry, she may need to go back to school and learn the newest techniques.12 Chapter 28/Unemployment7. Figure 2 shows a diagram of the labor market with a binding minimum wage. At the initial minimumwage (m1), the quantity of labor supplied L1S is greater than the quantity of labor demanded L1D, and unemployment is equal to L1S−L1D. An increase in the minimum wage to m2 leads to anincrease in the quantity of labor supplied to L2S and a decrease in the quantity of labor demanded to L2D. As a result, unemployment increases as the minimum wage rises.Figure 28. a. Figure 3 illustrates the effect of a union being established in the manufacturing labormarket. In the figure on the left, the wage rises from w1U to w2U and the quantity of labordemanded declines from U1 to U2D. Because the wage is higher, the quantity supplied oflabor increases to U2S, so there are U2S−U2D unemployed workers in the unionizedmanufacturing sector.b. When those workers who become unemployed in the manufacturing sector seekemployment in the service labor market, shown in the figure on the right, the supply oflabor shifts to the right from S1 to S2. The result is a decline in the wage in thenonunionized service sector from w1N to w2N and an increase in employment in thenonunionized service sector from N1 to N2.Chapter 28/Unemployment 3Figure 39. a. When the Japanese developed a strong auto industry, U.S. auto demand became moreelastic as a result of increased competition. With more elastic demand for autos, theelasticity of demand for American autoworkers increased.b. Because the rise in auto imports made the demand for autoworkers more elastic, tomaintain a higher-than-competitive wage rate requires a greater reduction in the quantityof labor demanded. So the union had to choose between allowing the union wage todecline or facing the loss of many jobs.c. Given the trade-off faced by the union, the growth of the Japanese auto industry forcedthe union wage to move closer to the competitive wage.10. a. If a firm was not providing such benefits prior to the legislation, the curve showing thedemand for labor would shift down by exactly $4 at each quantity of labor, because thefirm would not be willing to pay as high a wage given the increased cost of the benefits.b. If employees value the benefit by exactly $4 per hour, they would be willing to work thesame amount for a wage that's $4 less per hour, so the supply curve of labor shifts downby exactly $4.Figure 4c. Figure 4 shows the equilibrium in the labor market. Because the demand and supply curvesof labor both shift down by $4, the equilibrium quantity of labor is unchanged and thewage rate declines by $4. Both employees and employers are just as well off as before.d. If the minimum wage prevents the wage from falling, the result will be increasedunemployment, as Figure 5 shows. Initially, the equilibrium quantity of labor is L1 and theequilibrium wage is w1, which is $3 lower than the minimum wage w m. After the law ispassed, demand falls to D2 and supply rises to S2. Because of the minimum wage, thequantity of labor demanded (L2D) will be smaller than the quantity supplied (L2S). Thus,there will be unemployment equal to L2S–L2D.4 Chapter 28/UnemploymentFigure 5Figure 6e. If the workers do not value the mandated benefit at all, the supply curve of labor does notshift down. As a result, the wage rate will decline by less than $4 and the equilibriumquantity of labor will decline, as shown in Figure 6. Employers are worse off, because they now pay a greater total wage plus benefits for fewer workers. Employees are worse off,because they get a lower wage and fewer are employed.。

曼昆经济学原理英⽂版⽂案加习题答案29章THE MONETARY SYSTEMWHAT’S NEW IN THE S EVENTH EDITION:There is a new In the News box on ―Why Gold?‖LEARNING OBJECTIVES:By the end of this chapter, students should understand:what money is and what functions money has in the economy.what the Federal Reserve System is.how the banking system helps determine the supply of money.what tools the Federal Reserve uses to alter the supply of money.CONTEXT AND PURPOSE:Chapter 16 is the first chapter in a two-chapter sequence dealing with money and prices in the long run. Chapter 16 describes what money is and develops how the Federal Reserve controls the quantity of money. Because the quantity of money influences the rate of inflation in the long run, the followingchapter concentrates on the causes and costs of inflation.The purpose of Chapter 16 is to help students develop an understanding of what money is, what forms money takes, how the banking system helps create money, and how the Federal Reserve controls the quantity of money. An understanding of money is important because the quantity of money affects inflation and interest rates in the long run, and production and employment in the short run.KEY POINTS:The term money refers to assets that people regularly use to buy goods and services.Money serves three functions. As a medium of exchange, it is the item used to make transactions. Asa unit of account, it provides the way in which prices and other economic values are recorded. As astore of value, it offers a way to transfer purchasing power from the present to the future.264Chapter 16/The Monetary System ? 265Commodity money, such as gold, is money that has intrinsic value: It would be valued even if it were not used as money. Fiat money, such as paper dollars, is money without intrinsic value: It would be worthless if it were not used as money.In the U.S. economy, money takes the form of currency and various types of bank deposits, such as checking accounts. The Federal Reserve, the central bank of the United States, is responsible for regulating the U.S. monetary system. The Fed chairman is appointed by the president and confirmed by Congress every four years. The chairman is the lead member of the Federal Open Market Committee, which meets about every six weeks to consider changes in monetary policy.Bank depositors provide resources to banks by depositing their funds into bank accounts. These deposits are part of a bank’s liabilities. Bank owners also provide resources (called bank capital) for the bank. Because of leverage (the use of borrowed funds for investment), a small change in the value of a bank’s assets can lead to a large change in the value of the bank’s capital. To protect depositors, bank regulators require banks to hold a certain minimum amount of capital.The Fed controls the money supply primarily through open-market operations. The purchase of government bonds increases the money supply, and the sale of government bonds decreases the money supply. The Fed also uses other tools to control the money supply. It can expand the money supply by decreasing the discount rate, increasing its lending to banks, lowering reserverequirements, or decreasing the interest rate on reserves. It can contract the money supply by increasing the discount rate, decreasing its lending to banks, raising reserve requirements or increasing the interest rate on reserves.When individuals deposit money in banks and banks loan out some of these deposits, the quantity of money in the economy increases. Because the banking system influences the money supply in this way, the Fed’s control of the money supply is imperfect.The Federal Reserve has in recent years set monetary policy by choosing a target for the federal funds rate, a short-term interest rate at which banks make loans to one another. As the Fed achieves its target, it adjusts the money supply. CHAPTER OUTLINE:I. The Meaning of Money266?Chapter 16/The Monetary SystemA. Definition of money: the set of assets in an economy that people regularly use to buygoods and services from other people.B. The Functions of Money1. Money serves three functions in our economy.a. Definition of medium of exchange: an item that buyers give to sellers when theywant to purchase goods and services.b. Definition of unit of account: the yardstick people use to post prices and recorddebts.c. Definition of store of value: an item that people can use to transfer purchasingpower from the present to the future.2. Definition of liquidity: the ease with which an asset can be converted into theeconomy’s medium of exchange.a. Money is the most liquid asset available.b. Other assets (such as stocks, bonds, and real estate) vary in their liquidity.c. When people decide how to allocate their wealth, they must balance the liquidity of each possible asset against t he asset’s usefulness as a store of value.C. The Kinds of Money1. Definition of commodity money: money that takes the form of a commodity withintrinsic value.2. Definition of fiat money: money without intrinsic value that is used as moneybecause of government decree.3. In the News: Why Gold?a. Historically, societies have used gold, rather than other commodities, for commodity money.b. This article from NPR Morning Edition describes why gold is the best choice for commodity money.D. Money in the U.S. Economy1. The quantity of money circulating in the United States is sometimes called the money stock.2. Included in the measure of the money supply are currency, demand deposits, and other monetary assets.a. Definition of currency: the paper bills and coins in the hands of the public.b. Definition of demand deposits: balances in bank accounts that depositors canaccess on demand by writing a check.Chapter 16/The Monetary System?2673. Figure 1 shows the monetary assets included in two important measures of the money supply, M1 and M2.4. FYI: Why Credit Cards Aren’t Moneya. Credit cards are not a form of money; when a person uses a credit card, he or she issimply deferring payment for the item.b. Because using a debit card is like writing a check, the account balances that lie behind debit cards are included in the measures of money.5. Case Study: Where Is All the Currency?a. If we divide the amount of outstanding currency in the United States by the adult population, we find that the average adult should have approximately $4,490 in currency.b. Of course, most adults carry a much smaller amount.c. One explanation is that a great deal of U.S. currency may be held in other countries.d. Another explanation is that large amounts of currency may be held by criminals because transactions that use currency leave no paper trail.II. The Federal Reserve SystemA. Definition of Federal Reserve (Fed): the central bank of the United States.B. Definition of central bank: An institution designed to oversee the banking system and regulate the quantity of money in the economy.268?Chapter 16/The Monetary SystemC. The Fed’s Organization1. The Fed is run by a Board of Governors with 7 members who serve 14-year terms.a. The Board of Governors has a chairman who is appointed for a four-year term.b. The current chairman is Ben Bernanke.Chapter 16/The Monetary System ? 2692. The Federal Reserve System is made up of 12 regional Federal Reserve Banks located in major cities around the country.3. One job performed by the Fed is the regulation of banks to ensure the health of the nation’s banking system.a. The Fed monitors each bank's financial condition and facilitates bank transactions byclearing checks.b. The Fed also makes loans to banks when they want to borrow.4. The second job of the Fed is to control the quantity of money available in the economy.a. Definition of money supply: the quantity of money available in the economy .b. Definition of monetary policy: the setting of the money supply by policymakersin the central bank .D. The Federal Open Market Committee1. The Federal Open Market Committee (FOMC) consists of the 7 members of the Board ofGovernors and 5 of the 12 regional bank presidents. 2. The primary way in which the Fed increases or decreases the number of dollars in theeconomy is through open market operations (which involve the purchase or sale of U.S. government bonds).a. If the Fed wants to increase the supply of money, it creates dollars and uses them topurchase government bonds from the public through the nation's bond markets.b. If the Fed wants to lower the supply of money, it sells government bonds from itsportfolio to the public. Money is then taken out of the hands of the public and the supply of money falls.III. Banks and the Money Supply270 ? Chapter 16/The Monetary SystemA. The Simple Case of 100-Percent-Reserve Banking 1. Example: Suppose that currency is the only form of money and the total amount of currencyis $100. 2. A bank is created as a safe place to store currency; all deposits are kept in the vault until thedepositor withdraws them.a. Definition of reserves: deposits that banks have received but have not loanedout . b. Under the example described above, we have 100-percent-reserve banking.3. The financial position of the bank can be described with a T-account:4. The money supply in this economy is unchanged by the creation of a bank.a. Before the bank was created, the money supply consisted of $100 worth of currency.b. Now, with the bank, the money supply consists of $100 worth of deposits.5. This means that, if banks hold all deposits in reserve, banks do not influence the supply of money. B. Money Creation with Fractional-Reserve Banking1. Definition of fractional-reserve banking: a banking system in which banks hold onlya fraction of deposits as reserves .2. Definition of reserve ratio: the fraction of deposits that banks hold as reserves .3. Example: Same as before, but First National decides to set its reserve ratio equal to 10% andlend the remainder of the deposits.4. The bank’s T -account would look like this:Chapter 16/The Monetary System ? 2715. When the bank makes these loans, the money supply changes.a. Before the bank made any loans, the money supply was equal to the $100 worth ofdeposits.b. Now, after the loans, deposits are still equal to $100, but borrowers now also hold $90worth of currency from the loans.c. Therefore, when banks hold only a fraction of deposits in reserve, banks create money. 6. Note that, while new money has been created, so has debt. There is no new wealth createdby this process. C. The Money Multiplier1. The creation of money does not stop at this point.2. Borrowers usually borrow money to purchase something and then the money likely becomesredeposited at a bank.3. Suppose a person borrowed the $90 to purchase something and the funds then getredeposited in Second National Bank. Here is this bank’s T -account (assuming that it also sets its reserve ratio to 10%):4.If the $81 in loans becomes redeposited in another bank, this process will go on and on. 5. Each time the money is deposited and a bank loan is created, more money is created.6. Definition of money multiplier: the amount of money the banking system generateswith each dollar of reserves .7. In our example, the money supply increased from $100 to $1,000 after the establishment of fractional-reserve banking.ALTERNATIVE CLASSROOM EXAMPLE:Reserve ratio = 12.5%Money multiplier = 1/0.125 = 8272?Chapter 16/The Monetary SystemD. Bank Capital, Leverage, and the Financial Crisis of 2008–20091. In reality, banks also get funds from issuing debt and equity.2. Definition of bank capital: the resources a bank’s owners have put into theinstitution.3. A more realistic balance sheet for a bank:4. Definition of leverage: the use of borrowed money to supplement existing funds for purposes of investment.5. Definition of leverage ratio: the ratio of assets to bank capital.a. The leverage ratio is $1,000/$50 = 20.b. A leverage ratio of 20 means that, for every dollar of capital that has been contributed by the owners, the bank has $20 of assets.c. Because of leverage, a small chang e in assets can lead to a large change in owner’s equity.6. Definition of capital requirement: a government regulation specifying a minimumamount of bank capital.7. In 2008 and 2009, many banks realized they had incurred sizable losses on some of their assets.IV. The Fed’s Tools of Monetary ControlA. How the Fed Influences the Quantity of Reserves1. Open-Market Operationsa. Definition of open-market operations: the purchase and sale of U.S. governmentbonds by the Fed.b. If the Fed wants to increase the supply of money, it creates dollars and uses them to purchase government bonds from the public in the nation's bond markets.c. If the Fed wants to lower the supply of money, it sells government bonds from its portfolio to the public in the nation's bond markets. Money is then taken out of the handsof the public and the supply of money falls.d. If the sale or purchase of government bonds affects the amount of deposits in the banking system, the effect will be made larger by the money multiplier.Chapter 16/The Monetary System?273e. Open market operations are easy for the Fed to conduct and are therefore the tool of monetary policy that the Fed uses most often.2. Fed Lending to Banksa. The Fed can also lend reserves to banks.b. Definition of discount rate: the interest rate on the loans that the Fed makes tobanks.c. A higher discount rate discourages banks from borrowing from the Fed and likely encourages banks to hold onto larger amounts of reserves. This in turn lowers themoney supply.d. A lower discount rate encourages banks to lend their reserves (and borrow from the Fed). This will increase the money supply.e. In recent years, the Fed has set up new mechanisms for banks to borrow from the Fed.B. How the Fed Influences the Reserve Ratio1. Reserve Requirementsa. Definition of reserve requirements: regulations on the minimum amount ofreserves that banks must hold against deposits.b. This can affect the size of the money supply through changes in the money multiplier.c. The Fed rarely uses this tool because of the disruptions in the banking industry that would be caused by frequent alterations of reserve requirements. (It is also not effective when banks hold a lot of excess reserves.)2. Paying Interest on Reservesa. In October of 2008, the Fed began paying banks interest on reserves.b. The higher the interest rate, the more reserves a bank will want to hold. This will reducethe money multiplier and the money supply.C. Problems in Controlling the Money Supply1. The Fed does not control the amount of money that consumers choose to deposit in banks.a. The more money that households deposit, the more reserves the banks have, and the more money the banking system can create.b. The less money that households deposit, the less reserves banks have, and the less money the banking system can create.274?Chapter 16/The Monetary System2. The Fed does not control the amount that bankers choose to lend.a. The amount of money created by the banking system depends on loans being made.b. If banks choose to hold onto a greater level of reserves than required by the Fed (called excess reserves), the money supply will fall.3. Therefore, in a system of fractional-reserve banking, the amount of money in the economy depends in part on the behavior of depositors and bankers.4. Because the Fed cannot control or perfectly predict this behavior, it cannot perfectly control the money supply.D. Case Study: Bank Runs and the Money Supply1. Bank runs create a large problem under fractional-reserve banking.2. Because the bank only holds a fraction of its deposits in reserve, it will not have the funds to satisfy all of the withdrawal requests from its depositors.3. Today, deposits are guaranteed through the Federal Depository Insurance Corporation (FDIC).Chapter 16/The Monetary System?275E. The Federal Funds Rate1. Definition of federal funds rate:the short-term interest rate that banks charge one another for loans.2. When the federal funds rate rises or falls, other interest rates often move in the same direction.3. In recent years, the Fed has set a target for the federal funds rate.F. In the News: Bernanke on the Fed’s Toolbox1. During the financial crisis of 2008 and 2009, the Fed expanded reserves to help struggling banks.2. This is an article written by Fed chairman, Ben Bernanke, discussing the Fed’s options for reversing this policy once the economy recovers from this deep recession.276?Chapter 16/The Monetary SystemSOLUTIONS TO TEXT PROBLEMS:Quick Quizzes1. The three functions of money are: (1) medium of exchange; (2) unit of account; and (3) store of value. Money is a medium of exchange because money is the item people use to purchase goods and services. Money is a unit of account because it is the yardstick people use to post prices and record debts. Money is a store of value because people use it totransfer purchasing power from the present to the future.2. The primary responsibilities of the Federal Reserve are to regulate banks, to ensure thehealth of the banking system, and to control the quantity of money that is made available inthe economy. If the Fed wants to increase the supply of money, it usually does so bycreating dollars and using them to purchase government bonds from the public in thenation’s bond markets.3. Banks create money when they hold a fraction of their deposits in reserve and lend out theremainder. If the Fed wanted to use all of its tools to decrease the money supply, it would:(1) sell government bonds from its portfolio in the open market to reduce the number ofdollars in circulation; (2) increase reserve requirements to reduce the money created bybanks; (3) increase the interest rate it pays on reserves to increase the reserves banks willchoose to hold; and (4) increase the discount rate to discourage banks from borrowingreserves from the Fed.Questions for Review1. Money is different from other assets in the economy because it is the most liquid assetavailable. Other assets vary widely in their liquidity.2. Commodity money is money with intrinsic value, like gold, which can be used for purposesother than as a medium of exchange. Fiat money is money without intrinsic value; it has novalue other than its use as a medium of exchange. Our economy uses fiat money.3. Demand deposits are balances in bank accounts that depositors can access on demandsimply by writing a check or using a debit card. They should be included in the supply ofmoney because they can be used as a medium of exchange.4. The Federal Open Market Committee (FOMC) is responsible for setting monetary policy in theUnited States. The FOMC consists of the 7 members of the Federal Reserve Board ofGovernors and 5 of the 12 presidents of Federal Reserve Banks. Members of the Board ofGovernors are appointed by the president of the United States and confirmed by the U.S.Senate. The presidents of the Federal Reserve Banks are chosen by each bank’s board ofdirectors.5. If the Fed wants to increase the supply of money with open-market operations, it purchasesU.S. government bonds from the public on the open market. The purchase increases thenumber of dollars in the hands of the public, thus raising the money supply.6. Banks do not hold 100% reserves because it is more profitable to use the reserves to makeloans, which earn interest, instead of leaving the money as reserves. The amount of reservesChapter 16/The Monetary System?277 banks hold is related to the amount of money the banking system creates through the moneymultiplier. The smaller the fraction of reserves banks hold, the larger the money multiplier,because each dollar of reserves is used to create more money.7. Bank B will show a larger change in bank capital. The decrease in assets will render Bank B insolvent because its assets will fall below its liabilities, a decrease in bank capital of 140%. Bank A will suffer a large decline in bank capital (70%) but will remain solvent.8. The discount rate is the interest rate on loans that the Federal Reserve makes to banks. If the Fed raises the discount rate, fewer banks will borrow from the Fed, so both banks' reserves and the money supply will be lower.9. Reserve requirements are regulations on the minimum amount of reserves that banks must hold against deposits. An increase in reserve requirements raises the reserve ratio, lowersthe money multiplier, and decreases the money supply.10. The Fed cannot control the money supply perfectly because: (1) the Fed does not control the amount of money that households choose to hold as deposits in banks; and (2) the Fed does not control the amount that bankers choose to lend. The actions of households and banks affect the money supply in ways the Fed cannot perfectly control or predict.Quick Check Multiple Choice1. c2. c3. d4. a5. c6. aProblems and Applications1. a. A U.S. penny is considered money in the U.S. economy because it is used as a mediumof exchange to buy goods or services, it serves as a unit of account because prices instores are listed in terms of dollars and cents, and it serves as a store of value foranyone who holds it over time.b. A Mexican peso is not considered money in the U.S. economy, because it is not used as a medium of exchange, and prices are not given in terms of pesos, so it is not a unit of account. It could serve as a store of value, though.c. A Picasso painting is not considered money, because you cannot exchange it for goods or services, and prices are not given in terms of Picasso paintings. It does, however, serveas a store of value.d. A plastic credit card is similar to money, but represents deferred payment rather than immediate payment. So credit cards do not fully represent the medium of exchangefunction of money, nor are they stores of value, because they represent short-term loansrather than being an asset like currency.278?Chapter 16/The Monetary System2. When your uncle repays a $100 loan from Tenth National Bank (TNB) by writing a check from his TNB checking account, the result is a change in the assets and liabilities of both your uncle and TNB, as shown in these T-accounts:By paying off the loan, your uncle simply eliminated the outstanding loan using the assets in his checking account. Your uncle's wealth has not changed; he simply has fewer assets and fewer liabilities.3. a. Here is BSB's T-account:b. When BSB's largest depositor withdraws $10 million in cash and BSB reduces its loans outstanding to maintain the same reserve ratio, its T-account is now:c. Because BSB is cutting back on its loans, other banks will find themselves short of reserves and they may also cut back on their loans as well.d. BSB may find it difficult to cut back on its loans immediately, because it cannot force people to pay off loans. Instead, it can stop making new loans. But for a time it mightfind itself with more loans than it wants. It could try to attract additional deposits to get additional reserves, or borrow from another bank or from the Fed.4. If you take $100 that you held as currency and put it into the banking system, then the total amount of deposits in the banking system increases by $1,000, because a reserve ratio of 10% means the money multiplier is 1/0.10 = 10. Thus, the money supply increases by $900, because deposits increase by $1,000 but currency declines by $100.Chapter 16/The Monetary System?279 5. a.b. The leverage ratio = $1,000/$200 = 5.c.d. Assets decline by 9%. The bank's capital declines by 45%. The reduction in bank capitalis larger than the reduction in assets because all of the defaulted loans are covered bybank capital.6. With a required reserve ratio of 10%, the money multiplier could be as high as 1/0.10 = 10,if banks hold no excess reserves and people do not keep some additional currency. So the maximum increase in the money supply from a $10 million open-market purchase is $100 million. The smallest possible increase is $10 million if all of the money is held by banks as excess reserves.7. The money supply will expand more if the Fed buys $2,000 worth of bonds. Both depositswill lead to monetary expansion, b ut the Fed’s deposit is new money. With a 5% reserve requirement, the multiplier is 20 (1/0.05). The $2,000 from the Fed will increase the money supply by $40,000 ($2,000 x 20). The $2,000 from the cookie jar is already part of themoney supply as currency. When it is deposited the money supply increases by $38,000.Deposits increase by $40,000 ($2,000 x 20) but currency decreases by $2,000.8. a. With a required reserve ratio of 10% and no excess reserves, the money multiplier is1/0.10 = 10. If the Fed sells $1 million of government bonds, reserves will decline by $1 million and the money supply will contract by 10 × $1 million = $10 million.b. Banks might wish to hold excess reserves if they need to hold the reserves for their day-to-day operations, such as paying other banks for customers' transactions, makingchange, cashing paychecks, and so on. If banks increase excess reserves such that there is no overall change in the total reserve ratio, then the money multiplier does not change and there is no effect on the money supply.9. a. With banks holding only required reserves of 10%, the money multiplier is 1/0.10 = 10.Because reserves are $100 billion, the money supply is 10 × $100 billion = $1,000 billion or $1 trillion.b. If the required reserve ratio is raised to 20%, the money multiplier declines to 1/0.20 = 5.With reserves of $100 billion, the money supply would decline to $500 billion, a declineof $500 billion. Reserves would be unchanged.10. a. To expand the money supply, the Fed should buy bonds.280?Chapter 16/The Monetary Systemb. With a reserve requirement of 20%, the money multiplier is 1/0.20 = 5. Therefore toexpand the money supply by $40 million, the Fed should buy $40 million/5 = $8 millionworth of bonds.11. a. If people hold all money as currency, the quantity of money is $2,000.b. If people hold all money as demand deposits at banks with 100% reserves, the quantity of money is $2,000.c. If people have $1,000 in currency and $1,000 in demand deposits, the quantity of money is $2,000.d. If banks have a reserve ratio of 10%, the money multiplier is 1/0.10 = 10. So if people hold all money as demand deposits, the quantity of money is 10 × $2,000 = $20,000.e. If people hold equal amounts of currency (C) and demand deposits (D) and the money multiplier for reserves is 10, then two equations must be satisfied:(1) C = D, so that people have equal amounts of currency and demand deposits; and (2) 10 × ($2,000 –C) = D, so that the money multiplier (10) times the number of dollar bills that are not being held by people ($2,000 –C) equals the amount of demand deposits (D). Using the first equation in the second gives 10 × ($2,000 –D) = D, or $20,000 –10D = D, or $20,000 = 11 D, so D = $1,818.18. Then C = $1,818.18. The quantity of money is C + D = $3,636.36.。

第10篇 长期中的货币与物价第29章 货币制度29.1 复习笔记跨考网独家整理最全经济学考研真题，经济学考研课后习题解析资料库，您可以在这里查阅历年经济学考研真题，经济学考研课后习题，经济学考研参考书等内容，更有跨考考研历年辅导的经济学学哥学姐的经济学考研经验，从前辈中获得的经验对初学者来说是宝贵的财富，这或许能帮你少走弯路，躲开一些陷阱。

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1．货币的含义货币是经济中人们经常用于向他人购买物品与劳务的一组资产。

据此定义，货币只包括在物品与劳务交换中卖者通常接受的少数几种财富。

2．货币的职能货币在经济中有三种职能：交换媒介、计价单位和价值储藏。

3．货币的种类货币可以分为两种基本类型——商品货币和法定货币。

4．美国经济中的货币现金、活期存款、货币市场共同基金账户余额等。

货币层次（美联储）：1M ＝流通中现金＋旅行支票＋活期存款＋其他支票存款（如NOW 账户，ATS 账户等）21M M =+储蓄存款（含货币市场存款基金账户）＋小额（10万美元以下）定期存款＋零售货币市场共同基金余额（最低初始投资在5万美元以下）＋几种不重要的项目 划分货币层次的依据是货币流动性的强弱。

流动性（liquidity ）指一种资产可以兑换为经济中的交换媒介的容易程度。

由于货币经济的交换媒介，所以它是最具流动性的资产，其他资产在流动性方面彼此差别很大。

5．联邦储备体系（1）结构：联储理事会、联邦公开市场委员会、地方级的12家联邦储备银行及其分支机构。

（2）职能：管制银行并确保银行体系的正常运行，控制经济中的货币量。

6．银行与货币供给（1）如果银行全以储备金持有所有存款，银行就不影响货币供给。

（2）银行进行货币创造的前提：非现金结算和部分存款准备金制度。

（3）重要概念：准备率、法定准备金、超额准备金。

7．货币乘数货币乘数（亦称存款乘数）又称作“货币扩张系数”或“货币扩张乘数”，指的是中央银行创造或消灭一单位的基础货币所能增加或减少的货币供应量。

第八篇宏观经济学的数据第二十三章一国收入的衡量复习题 1 ．解释为什么一个经济的收入必定等于其支出? 答：对一个整体经济而言，收入必定等于支出。

因为每一次交易都有两方：买者和卖者.一个买者的1 美元支出是另一个卖者的1 美元收入。

因此，交易对经济的收入和支出作出了相同的贡献。

由于GDP 既衡量总收入135 又衡量总支出,因而无论作为总收入来衡量还是作为总支出来衡量，GDP 都相等。

2 ．生产一辆经济型轿车或生产一辆豪华型轿车,哪一个对GDP 的贡献更大?为什么？答：生产一辆豪华型轿车对GDP 的贡献大。

因为GDP 是在某一既定时期一个国家内生产的所有最终物品与劳务的市场价值。

由于市场价格衡量人们愿意为各种不同物品支付的量，所以市场价格反映了这些物品的市场价值。

由于一辆豪华型轿车的市场价格高于一辆经济型轿车的市场价格，所以一辆豪华型轿车的市场价值高于一辆经济型轿车的市场价值，因而生产一辆豪华型轿车对GDP 的贡献更大.3 ．农民以2 美元的价格把小麦卖给面包师.面包师用小麦制成面包，以3 美元的价格出售.这些交易对GDP 的贡献是多少呢? 答:对GDP 的贡献是3 美元。

GDP 只包括最终物品的价值，因为中间物品的价值已经包括在最终物品的价格中了。

4 ．许多年以前，Peggy 为了收集唱片而花了500 美元。

今天她在旧货销售中把她收集的物品卖了100 美元。

这种销售如何影响现期GDP？答：现期GDP 只包括现期生产的物品与劳务,不包括涉及过去生产的东西的交易。

因而这种销售不影响现期GDP.5 ．列出GDP 的四个组成部分。

各举一个例子.答：GDP 等于消费（C)+投资(I)+政府购买（G)+净出口(NX）消费是家庭用于物品与劳务的支出,如汤姆一家人在麦当劳吃午餐。

投资是资本设备、存货、新住房和建筑物的购买，如通用汽车公司建立一个汽车厂.政府购买包括地方政府、州政府和联邦政府用于物品与劳务的支出，如海军购买了一艘潜艇.净出口等于外国人购买国内生产的物品（出口）减国内购买的外国物品（进口）。

UNEMPLOYMENTWHAT’S NEW IN THE S EVENTH EDITION:A new In the News feature on “Why Has Employment Declined” has been added and all statistics and tables have been updated.LEARNING OBJECTIVES:By the end of this chapter, students should understand:the data used to measure the amount of unemployment.how unemployment can result from minimum-wage laws.how unemployment can arise from bargaining between firms and unions.how unemployment results when firms choose to pay efficiency wages.CONTEXT AND PURPOSE:Chapter 15 is the fourth chapter in a four-chapter sequence on the level and growth of output in the long run. In Chapter 12, we learned that capital and labor are among the primary determinants of output and growth. In Chapter 13, we addressed how saving and investment in capital goods affect the production of output. In Chapter 14, we learned about some of the tools people and firms use when choosing capital projects in which to invest. In Chapter 15, we see how full utilization of our labor resources improves the level of production and our standard of living.The purpose of Chapter 15 is to introduce students to the labor market. We will see how economists measure the performance of the labor market using unemployment statistics. We will also address a number of sources of unemployment and some policies that the government might use to lower certain types of unemployment.KEY POINTS:The unemployment rate is the percentage of those who would like to work who do not have jobs.The Bureau of Labor Statistics calculates this statistic monthly based on a survey of thousands of households.247248❖Chapter 15/Unemployment∙ The unemployment rate is an imperfect measure of joblessness. Some people who call themselves unemployed may actually not want to work, and some people who would like to work have left the labor force after an unsuccessful search and therefore are not counted as unemployed.∙ In the U.S. economy, most people who become unemployed find work within a short period of time.Nonetheless, most unemployment observed at any given time is attributable to the few people who are unemployed for long periods of time.∙ One reason for unemployment is the time it takes for workers to search for jobs that best suit their tastes and skills. This frictional unemployment is increased as a result of unemployment insurance, a government policy designed to protect workers’ incomes.∙ A second reason our economy always has some unemployment is minimum-wage laws. By raising the wage of unskilled and inexperienced workers above the equilibrium level, minimum-wage laws raise the quantity of labor supplied and reduce the quantity demanded. The resulting surplus of labor represents unemployment.∙ A third reason for unemployment is the market power of unions. When unions push the wages in unionized industries above the equilibrium level, they create a surplus of labor.∙ A fourth reason for unemployment is suggested by the theory of efficiency wages. According to this theory, firms find it profitable to pay wages above the equilibrium level. High wages can improve worker health, lower worker turnover, raise worker quality, and increase worker effort.CHAPTER OUTLINE:I. Unemployment can be divided into two categories.A. The economy’s natural rate of unemployment refers to the amount of unemployment that theeconomy normally experiences.B. Cyclical unemployment refers to the year-to-year fluctuations in unemployment around its naturalrate.II. Identifying UnemploymentA. How Is Unemployment Measured?1. The Bureau of Labor Statistics (BLS) surveys about 60,000 households every month.2. The BLS places each adult (age 16 or older) into one of three categories: employed,unemployed, or not in the labor force.Chapter 15/Unemployment ❖ 2493. Definition of labor force: the total number of workers, including both the employedand the unemployed .4. Definition of unemployment rate: the percentage of the labor force that isunemployed .5. Definition of labor-force participation rate: the percentage of the adult populationthat is in the labor force .6. Example: Data from 2012. In that year, there were 142.5 million employed people and 12.5million unemployed people.a. Labor Force = 142.5 + 12.5 = 155.0 million.b. Unemployment Rate = (12.5/155.0) × 100 = 8.1%.c. Because the adult population was 243.3 million, the labor-force participation rate was:Labor-Force Participation Rate = (155.0/243.3) × 100 = 63.7%.7. Table 1 shows unemployment and labor-force participation rates for various sub-groups ofthe U.S. population.ALTERNATIVE CLASSROOM EXAMPLE:The country of Bada has collected the following information:Population 240,000 Employed 180,000 Unemployed30,000Labor Force = 180,000 + 30,000 = 210,000Unemployment rate = (30,000/210,000) × 100 = 14.3%Labor-force participation rate = (210,000/240,000) × 100 = 87.5%250 ❖ Chapter 15/Unemploymenta. Women of prime working age (25 to 54 years old) have lower rates of labor-forceparticipation than men, but once in the labor market, men and women have similar rates of unemployment.b. Prime-age blacks have similar labor-force participation rates as prime-age whites, butthey have much higher rates of unemployment.c. Teenagers have much lower rates of labor-force participation and much higher rates ofunemployment than older workers.8. Figure 2 shows the unemployment rate in the United States since 1960.B. Definition of the natural rate of unemployment: the normal rate of unemploymentaround which the unemployment rate fluctuates . C. Definition of cyclical unemployment: the deviation of unemployment from its naturalrate .D. Case Study: Labor-Force Participation of Men and Women in the U.S. Economy1. There has been a dramatic rise in the labor-force participation rates of women over the past60 years.2. Figure 3 shows this rise in the labor-force participation rate of women. The figure also showsthat the labor-force participation rates for men have actually fallen by a small amount over the same time period.E. Does the Unemployment Rate Measure What We Want It To? 1. Measuring the unemployment rate is not as straightforward as it may seem.2. There is a tremendous amount of movement into and out of the labor force.a. Many of the unemployed are new entrants or re-entrants looking for work.b. Many unemployment spells end with a person leaving the labor force as opposed toactually finding a job.3. There may be individuals who are calling themselves unemployed to qualify for governmentassistance, yet they are not trying hard to find work. These individuals are more likely not a part of the true labor force, but they will be counted as unemployed.Chapter 15/Unemployment❖251 4. Definition of discouraged workers: individuals who would like to work but havegiven up looking for a job.a. These individuals will not be counted as part of the labor force.b. Thus, while they are likely a part of the unemployed, they will not show up in theunemployment statistics.5. Table 2 presents other measures of labor underutilization calculated by the Bureau of LaborStatistics.252❖Chapter 15/UnemploymentF. How Long Are the Unemployed without Work?1. Another important variable that policymakers may be concerned with is the duration ofunemployment.2. Most spells of unemployment are short, and most unemployment observed at any given timeis long term.G. Why Are There Always Some People Unemployed?1. In an ideal labor market, wages would adjust so that the quantity of labor supplied and thequantity of labor demanded would be equal.2. However, there is always unemployment even when the economy is doing well. Theunemployment rate is never zero; it fluctuates around the natural rate.a. Definition of frictional unemployment: unemployment that results because ittakes time for workers to search for the jobs that best suit their tastes andskills.b. Definition of structural unemployment: unemployment that results because thenumber of jobs available in some labor markets is insufficient to provide a jobfor everyone who wants one.c. Three possible reasons for structural unemployment are minimum-wage laws, unions,and efficiency wages.H. FYI: The Jobs Number1. When the Bureau of Labor Statistics announces the unemployment rate each month, it alsoannounces the number of jobs the economy gained or lost.2. This information comes from a survey of 160,000 business establishments.III. Job SearchA. Definition of job search: the process by which workers find appropriate jobs given theirtastes and skills.B. Because workers differ from one another in terms of their skills and tastes and jobs differ in theirattributes, it is often difficult for workers to match with the appropriate job.C. Why Some Frictional Unemployment Is Inevitable1. Frictional unemployment often occurs because of a change in the demand for labor amongdifferent firms.Chapter 15/Unemployment❖253a. When consumers decide to stop buying a good produced by Firm A and instead startbuying a good produced by Firm B, some workers at Firm A will likely lose their jobs.b. New jobs will be created at Firm B, but it will take some time to move the displacedworkers from Firm A to Firm B.c. The result of this transition is a period of unemployment.d. The same situation can occur across industries and regions as well.2. This implies that, because the economy is always changing, frictional unemployment isinevitable. Workers in declining industries will find themselves looking for new jobs, and firmsin growing industries will be seeking new workers.D. Public Policy and Job Search1. The faster information spreads about job openings and worker availability, the more rapidlythe economy can match workers and firms.2. Government programs try to facilitate job search in various ways.a. Government-run employment agencies give out information on job vacancies.b. Public training programs can ease the transition of workers from declining to growingindustries and help disadvantaged groups escape poverty.3. Critics of these programs argue that the private labor market will do a better job of matchingworkers with employers and therefore the government should not be involved in the processof job search.E. Unemployment Insurance1. Definition of unemployment insurance: a government program that partiallyprotects workers’ incomes when they become unemployed.2. Because unemployment insurance reduces the hardship of unemployment, it also increasesthe amount of unemployment that exists.3. Many studies have shown that more generous unemployment insurance benefits lead toreduced job search effort and, as a result, more unemployment.4. In the News: Why Has Employment Declined?a. The number of Americans receiving government benefits has grown substantially recentlywhile the employment-population ratio has declined.b. This article from The Wall Street Journal discusses the incentives created by thesegovernment benefits and the effects on the annual rate of real output growth.IV. Minimum-Wage LawsA. Unemployment can also occur because of minimum-wage laws.254 ❖ Chapter 15/Unemployment1. If the minimum wage is set above the equilibrium wage in the labor market, a surplus oflabor will occur.2. While minimum-wage laws are one reason unemployment exists in the U.S. economy, theydo not affect everyone.a. The vast majority of workers in the economy have wages well above the legal minimum,so the law does not prevent most wages from adjusting to balance supply and demand.b. Minimum-wage laws therefore have the largest affect on the least skilled and leastexperienced members of the labor force, such as teenagers.B. Anytime a wage is kept above the equilibrium level for any reason, the result is unemployment.1. Other causes of this situation include unions and efficiency wages.2. This situation is different from frictional unemployment where the search for the right job isthe reason for unemployment.C FYI: Who Earns the Minimum Wage?1. In 2012, the Department of Labor released a study of which workers reported earnings at orbelow the minimum wage in 2011.a. Of those workers paid an hourly rate, about 4% of men and 6% of women reportedwages at or below the federal minimum.b. Minimum-wage workers tend to be young, with about half under the age of 25.c. Minimum-wage workers tend to be less educated. Of those workers ages 16 and overwith a high school education, only 5% earned the minimum wage.d.Minimum-wage workers are more likely to be working part time.Chapter 15/Unemployment❖255d. The industry with the highest proportion of workers with reported hourly wages at orbelow the minimum wage was leisure and hospitality.e. The proportion of workers earning the prevailing minimum wage has changedsubstantially over time, trending downward from 1979 to 2006 then increasing in 2011.The increase is partially attributable to an increase in the minimum wage.V. Unions and Collective BargainingA. Definition of union: a worker association that bargains with employers over wages andworking conditions.B. Unions play a smaller role in the U.S. economy today than they did in the past. However, unionscontinue to be prevalent in many European countries.C. The Economics of Unions1. Definition of collective bargaining: the process by which unions and firms agree onthe terms of employment.2. Unions try to negotiate for higher wages, better benefits, and better working conditions thanthe firm would offer if there were no union.3. Definition of strike: the organized withdrawal of labor from a firm by a union.4. Economists have found that union workers typically earn 10% to 20% more than similarworkers who do not belong to unions.5. This implies that unions raise the wage above the equilibrium wage, resulting inunemployment.a. Unions are often believed to cause conflict between insiders (who benefit from highunion wages) and outsiders (who do not get the union jobs).b. Outsiders will either remain unemployed or find jobs in firms that are not unionized.c. The supply of workers in nonunion firms will increase, pushing wages at those firmsdown.D. Are Unions Good or Bad for the Economy?1. Critics of unions argue that unions are a cartel, which causes inefficiency because fewerworkers end up being hired at the higher union wage.2. Advocates of unions argue that unions are an answer to the problems that occur when a firmhas too much power in the labor market (for example, if it is the only major employer intown). In addition, by representing workers’ views, unions help firms provide the right mix ofjob attributes.VI. The Theory of Efficiency Wages256❖Chapter 15/UnemploymentA. Definition of efficiency wages: above-equilibrium wages paid by firms in order toincrease worker productivity.B. Efficiency wages raise the wage above the market equilibrium wage, resulting in unemployment.C. There are several reasons why a firm may pay efficiency wages.1. Worker Healtha. Better-paid workers can afford to eat better and can afford good medical care.b. This is more applicable in developing countries where inadequate nutrition can be asignificant problem.2. Worker Turnovera. A firm can reduce turnover by paying a wage greater than its workers could receiveelsewhere.b. This is especially helpful for firms that face high hiring and training costs.3. Worker Qualitya. Offering higher wages attracts a better pool of applicants.b. This is especially helpful for firms that are not able to perfectly gauge the quality of jobapplicants.4. Worker Efforta. Again, if a firm pays a worker more than he or she can receive elsewhere, the worker willbe more likely to try to protect his or her job by working harder.b. This is especially helpful for firms that have difficulty monitoring their workers.5. Case Study: Henry Ford and the Very Generous $5-a-Day Wagea. Henry Ford used a high wage (about twice the going rate) to attract better employees.b. After instituting this higher wage policy, the company’s production costs actually fell dueto reduced turnover, absenteeism, and shirking.SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes1. The unemployment rate is measured starting with a survey of about 60,000 households. TheBLS categorizes individuals surveyed as employed, unemployed, and not in the labor force.Next, the BLS computes the labor force as the sum of the number of employed and thenumber of unemployed. Finally, the unemployment rate is calculated as the number ofunemployed divided by the labor force multiplied by 100. The unemployment rate overstates the amount of joblessness because some of those who report being unemployed may not, in fact, be trying hard to find a job. But the unemployment rate may understate the amount of joblessness because discouraged workers are considered not in the labor force even though they are workers without jobs.2. An increase in the world price of oil increases the amount of frictional unemployment as oil-producing firms increase output and employment, but other firms, such as those in the auto industry, reduce output and employment. The sectoral shift from the auto industry to oil firms causes higher frictional unemployment for a time until workers have shifted from the auto industry to the oil industry. Although no increase in unemployment is really desirable, this type of frictional unemployment is a natural outcome of the reallocation of resources between different sectors. Public policies that might affect the unemployment caused by this change in the price of oil include government-run employment agencies, which can helpautoworkers move into the oil industry, job-training programs to help workers adapt to a new industry, and unemployment insurance, which keeps workers from suffering economichardship while changing from one industry to another.3. Figure 1 shows the supply curve (S) and the demand curve (D) for labor. The wage (W) isabove the equilibrium wage (W E). The result is unemployment, equal to the amount bywhich the quantity of labor supplied (L S) exceeds the quantity of labor demanded (L D).Figure 14. A union in the auto industry raises the wages of workers employed by General Motors andFord by threatening to strike. To prevent the costs of a strike, the firms generally pay higher wages than they would if there were no union. However, the higher wages reduceemployment at General Motors and Ford. The unemployed autoworkers seek jobs elsewhere, reducing wages and increasing employment in the nonunion sector.5. There are four reasons that firms might find it profitable to pay wages above the level thatbalances the quantity of labor supplied and the quantity of labor demanded: (1) to ensurethat workers are in good health so they will be more productive; (2) to reduce workerturnover because it is costly to hire new workers; (3) to make workers eager to keep theirjobs, thus discouraging them from shirking; and (4) to attract a better pool of workers.Questions for Review1. The BLS categorizes each adult (16 years of age and older) as employed, unemployed, or notin the labor force. The labor force consists of the sum of the employed and the unemployed.The unemployment rate is the percentage of the labor force that is unemployed. The labor-force participation rate is the percentage of the total adult population that is in the laborforce.2. Unemployment is typically short term. Most people who become unemployed are able to findnew jobs fairly quickly. But most unemployment observed at any given time is attributable tothe relatively few workers who are jobless for long periods of time.3. Frictional unemployment is inevitable because the economy is always changing. Some firmsare shrinking while others are expanding. Some regions are experiencing faster growth thanother regions. Transitions of workers between firms and between regions are accompaniedby temporary unemployment.The government could help to reduce the amount of frictional unemployment through publicpolicies that provide information about job vacancies in order to match workers and jobsmore quickly, and through public training programs that help ease the transition of workersfrom declining to expanding industries and help disadvantaged groups escape poverty.4. Minimum-wage laws are a better explanation for unemployment among teenagers thanamong college graduates. Teenagers have fewer job-related skills than college graduates do,so their wages are low enough to be affected by the minimum wage. College graduates'wages generally exceed the minimum wage.5. Unions affect the natural rate of unemployment via the effect on insiders and outsiders.Because unions raise the wage above the equilibrium level, the quantity of labor demandeddeclines while the quantity supplied of labor rises, so there is unemployment. Insiders arethose who keep their jobs. Outsiders, workers who become unemployed, have two choices:either get a job in a firm that is not unionized, or remain unemployed and wait for a job toopen up in the union sector. As a result, the natural rate of unemployment is higher than itwould be without unions.6. Advocates of unions claim that unions are good for the economy because they are anantidote to the market power of the firms that hire workers and they are important forhelping firms respond efficiently to workers' concerns.7. Four reasons why a firm's profits might increase when it raises wages are: (1) better paidworkers are healthier and more productive; (2) worker turnover is reduced; (3) the firm canattract higher quality workers; and (4) worker effort is increased.Quick Check Multiple Choice1. a2. c3. b4. b5. c6. aProblems and Applications1. a. The adult population consists of the number of employed (143,322,000) plus the numberof unemployed (12,332,000) plus those not in the labor force (89,008,000), which equals244,662,000.b. The labor force consists of the number of employed (143,322,000) plus the number ofunemployed (12,332,000), which equals 155,654,000.c. The labor-force participation rate is the labor force (155,654,000) divided by the adultpopulation (244,662,000) times 100, which equals 63.6%.d. The unemployment rate is the number of unemployed (12,332,000) divided by the laborforce (155,654,000) times 100, which equals 7.9%.2. Many answers are possible.3. The fact that employment increased4.9 million while unemployment declined 2.7 million isconsistent with growth in the labor force of 2.2 million workers. The labor force constantlyincreases as the population grows and as labor-force participation increases, so the increasein the number of people employed may exceed the reduction in the number unemployed.4. a. If an auto company goes bankrupt and its workers immediate begin looking for work, theunemployment rate will rise and the employment-population ratio will fall.b. If some of the unemployed auto workers give up looking for a job, the unemploymentrate will fall and the employment-population ratio will remain the same.c. If numerous students graduate from college and cannot find work, the unemploymentrate will rise and the employment-population ratio will remain unchanged.d. If numerous students graduate from college and immediately begin new jobs, theunemployment rate will fall and the employment-population ratio will rise.e. If a stock market boom induces earlier retirement, the unemployment rate will rise andthe employment-population ratio will fall.f. Advances in health care that prolong the life of retirees will not affect the unemploymentrate and will lower the employment-population ratio.5. a. A construction worker who is laid off because of bad weather is likely to experienceshort-term unemployment, because the worker will be back to work as soon as theweather clears up.b. A manufacturing worker who loses his job at a plant in an isolated area is likely toexperience long-term unemployment, because there are probably few other employment opportunities in the area. He may need to move somewhere else to find a suitable job, which means he will be out of work for some time.c. A worker in the stagecoach industry who was laid off because of the growth of railroadsis likely to be unemployed for a long time. The worker will have a lot of trouble finding another job because his entire industry is shrinking. He will probably need to gain additional training or skills to get a job in a different industry.d. A short-order cook who loses his job when a new restaurant opens is likely to findanother job fairly quickly, perhaps even at the new restaurant, and thus will probably have only a short spell of unemployment.e. An expert welder with little education who loses his job when the company installsautomatic welding machinery is likely to be without a job for a long time, because he lacks the technological skills to keep up with the latest equipment. To remain in the welding industry, he may need to go back to school and learn the newest techniques.Figure 26. Figure 2 shows a diagram of the labor market with a binding minimum wage. At the initialminimum wage (w M,1), the quantity of labor supplied L S,1 is greater than the quantity of labor demanded L D,1, and unemployment is equal to L S,1 – L D,1. An increase in the minimum wage to w M,2 leads to an increase in the quantity of labor supplied to L S,2 and a decrease in the quantity of labor demanded to L D,2. As a result, unemployment increases as the minimum wage rises.7. a. Figure 3 illustrates the effects of a union being established in the manufacturing labormarket. In the manufacturing labor market (figure on the left), the wage rises from the non-union wage, w NU , to the union wage, w U , and the quantity of labor demanded declines from the non-union quantity of labor, L NU , to the union quantity of labordemanded, L UD . Because the wage is higher, the quantity supplied of labor increases toSupplyDemandWage Quantity of Laborw M,1w M,2 L D,2 L D,1L S,2L S,1the union quantity of labor supplied L US , so there are L US – L UD unemployed workers inthe unionized manufacturing sector.b. When those workers who become unemployed in the manufacturing sector seekemployment in the service labor market, shown in the figure on the right, the supply of labor shifts to the right from S 1 to S 2. The result is a decline in the wage in the nonunionized service sector from w 1 to w 2 and an increase in employment in the nonunionized service sector from L 1 to L 2.Figure 38. a. Wages between the two industries would be equal. If not, new workers would choosethe industry with the higher wage, pushing the wage in that industry down.b. If the country begins importing autos, the demand for domestic auto workers would fall.If the country begins to export aircraft, there would be an increase in the demand for workers in the aircraft industry.c. In the short run, wages in the auto industry would fall, while wages in the aircraftindustry would rise. Over time, new workers would move into the aircraft industry bringing its wage down until wages were equal across the two industries. d. If the wage did not adjust to its equilibrium level, there would be a shortage of workersin the aircraft industry and a surplus of labor (unemployment) in the auto industry.9. a. If a firm was not providing such benefits prior to the legislation, the curve showing thedemand for labor would shift to the left by exactly $4 at each quantity of labor, because the firm would not be willing to pay as high a wage given the increased cost of the benefits.b. If employees value the benefit by exactly $4 per hour, they would be willing to work thesame amount for a wage that is $4 less per hour, so the supply curve of labor shifts to the right by exactly $4.WageWageQuantity of LaborQuantityof LaborL UD US L NU SS 1S 2D DManufacturing Labor Market Service Labor Marketw NUw U w 1 w 21L 2。

第28章失业28.1复习笔记1．失业的衡量指标（1）失业失业指在一定年龄范围内，有工作能力，愿意工作并积极寻找工作而未能按当时通行的实际工资水平找到工作的人。

要注意：①年龄规定以外的无工作者不计入失业者；②丧失工作能力者不计入失业者；③在校学习的不计入失业者；④由于某种原因不愿工作或不积极寻找工作的人不计入失业者；⑤有些未领取失业救济的未登记注册的无工作者，不计入失业者。

衡量经济中失业状况的最基本指标是失业率。

失业率是指失业者占劳动力的百分比，公式表示为：公式中的劳动力是指失业人数和就业人数之和。

（2）充分就业充分就业并非人人都有工作，消灭了周期性失业的就业状态就是充分就业。

由于社会总需求不足而造成的失业叫周期性失业。

由于经济中某些难以克服的原因而造成的失业叫自然失业。

充分就业与自然失业的存在并不矛盾。

实现了充分就业时的失业率就是自然失业率。

劳动力参工率指劳动力在成年人口中所占的百分比，这个统计数字表示人口中选择参与劳动市场的人口的比率。

经济中总存在某种失业，而且各年的失业量都在变动。

失业率围绕正常失业率而波动。

正常失业率称为自然失业率，失业率与自然失业率的背离称为周期性失业。

（3）失业率不能准确地衡量失业的原因①一些人只是为了能得到政府的福利或由于得到“暗中”支付而装作找工作，他们仍被算在劳动力之中，作为失业者。

这种行为使失业统计数字偏高。

②一些人寻找工作不成功，并放弃了寻找工作，因此他们未被算在失业者之内。

这种行为使失业统计数字偏低。

2．失业的分类宏观经济学通常将失业分为三种类型，即摩擦性失业、结构性失业以及周期性失业。

（1）摩擦性失业指劳动力在正常流动过程中所产生的失业。

摩擦性失业量的大小取决于劳动力流动性的大小和寻找工作所需要的时间。

由于在动态经济中，劳动力的流动是正常的，所以摩擦性失业的存在也是正常的。

（2）结构性失业指劳动力的供给和需求不匹配所造成的失业，其特点是既有失业，又有职位空缺，失业者或者没有合适的技能，或者居住地点不当，因此无法填补现有的职位空缺。

目　录第一部分　笔记和课后习题（含考研真题）详解[视频讲解]第8篇　宏观经济学的数据第23章　一国收入的衡量23.1　复习笔记23.2　课后习题详解23.3　考研真题详解[视频讲解]第24章　生活费用的衡量24.1　复习笔记24.2　课后习题详解24.3　考研真题详解[视频讲解]第9篇　长期中的真实经济第25章　生产与增长25.1　复习笔记25.2　课后习题详解25.3　考研真题详解第26章　储蓄、投资和金融体系26.1　复习笔记26.2　课后习题详解26.3　考研真题详解第27章　基本金融工具27.1　复习笔记27.2　课后习题详解27.3　考研真题详解[视频讲解]第28章　失　业28.1　复习笔记28.2　课后习题详解28.3　考研真题详解[视频讲解]第10篇　长期中的货币与物价第29章　货币制度29.1　复习笔记29.2　课后习题详解29.3　考研真题详解[视频讲解]第30章　货币增长与通货膨胀30.1　复习笔记30.2　课后习题详解30.3　考研真题详解[视频讲解]第11篇　开放经济的宏观经济学第31章　开放经济的宏观经济学：基本概念31.1　复习笔记31.2　课后习题详解[视频讲解]31.3　考研真题详解第32章　开放经济的宏观经济理论32.1　复习笔记32.2　课后习题详解[视频讲解]32.3　考研真题详解[视频讲解]第12篇　短期经济波动第33章　总需求与总供给33.1　复习笔记33.2　课后习题详解33.3　考研真题详解[视频讲解]第34章　货币政策和财政政策对总需求的影响34.1　复习笔记34.2　课后习题详解34.3　考研真题详解[视频讲解]第35章　通货膨胀与失业之间的短期权衡取舍35.1　复习笔记35.2　课后习题详解35.3　考研真题详解[视频讲解]第13篇　最后的思考第36章　宏观经济政策的六个争论问题36.1　复习笔记36.2　课后习题详解36.3　考研真题详解[视频讲解]第二部分　模拟试题及详解曼昆《经济学原理（宏观经济学分册）》（第6版）模拟试题及详解（一）曼昆《经济学原理（宏观经济学分册）》（第6版）模拟试题及详解（二）第一部分　笔记和课后习题（含考研真题）详解[视频讲解]第8篇　宏观经济学的数据第23章　一国收入的衡量23.1　复习笔记1．经济的收入与支出在一国的宏观经济中，收入必定等于支出。

经济学原理第7版(曼昆)宏观经济学复习重点第23章1.对于一个整体经济而言，收入必定等于支出2.国内生产总值（GDP）在某一既定时期一个国家内生产的所有最终物品和劳务的市场价值。

GDP通常是一年或一个季度（3个月）；衡量的生产价值局限于一个国家的地理范围之内，不管是由本国的国民还是住在本国的外国人生产；只包括现期生产的物品，不包括过去生产的物品；生产并合法出售的所有东西；只包括最终物品的价值；包括有形的物品，也包括无形的劳务；使用市场价格。

3.GDP 的四个组成部分是消费（C ）、投资（I ）、政府购买（G ）和净出口（NX ）。

（1）消费是家庭除购买新住房之外用于物品与服务的支出（2）投资是用于资本设备、存货和建筑物的支出，包括家庭用于购买新住房的支出（3）政府购买包括地方、州和联邦政府用于物品与服务的支出（4）净出口等于外国对国内生产的物品的购买（出口）减国内对外国物品的购买（进口）国内生产总值等于消费、投资、政府支出和净出口之和4. 真实GDP和名义GDP真实GDP：按不变价格评价的物品与服务的生产（是用不变的基年价格来评价经济中物品与服务生产的价值）不受价格变动的影响，反映产的产量的变动名义GDP：按现期价格评价的物品与服务的生产（是用当年价格来评价经济中物品与服务生产的价值）GDP 平减指数GDP 平减指数是用名义GDP与真实GDP的比率乘以100计算的物价水平衡量指标即GDP平减指数= （名义GDP/真实GDP）*100通货膨胀率=[（第2年的GDP平减指数-第一年的GDP平减指数）/第一年的GDP平减指数]*100第24章1．消费物价指数CPI答：指普通消费者购买的物品与服务的总费用的衡量指标。

即：CPI =（当年一篮子物品与服务的价格/基年一篮子的价格）*100计算消费物价指数：固定篮子、找出价格、计算这一篮子东西的费用、选择基年并计算指数、计算通货膨胀率通货膨胀率：从前一个时期以来物价指数变动的百分比通货膨胀率=[（第二年CPI-第一年CPI）/第一年CPI ]*100% 生产物价指数：企业所购买的一篮子物品与服务的费用的衡量指标衡量生活费用中的三个问题。

曼昆宏观习题答案中文版《经济学原理》宏观部分习题答案第23章《国民收入衡量》复习题：1．解释为什么一个经济的收入必定等于其指出？答：每宗交易都由卖方和买方，所以经济中支出必然等于收入。

2．生产一辆经济型轿车或生成一辆豪华型轿车，哪一个对GDP的贡献更大？为什么？答：豪华汽车市场价值高，所以对GDP贡献大。

（一对一比较）3．农民以2美元的价格把小麦卖给面包师。

面包师用小麦制成面包，以3美元的价格出售。

这些交易对GDP的贡献是多少呢？答：3元，即面包的市场价值，也即销售的最终产品。

4. 许多年以前，Peggy为了收集唱片而花了500美元。

今天她在旧货销售中把她收集的物品卖了100美元。

这种销售如何影响现期GDP？答：对现今GDP不产生影响，因为它不是现今生产出来的。

5. 列出GDP的四个组成部分。

各举一个例子。

答：消费-如购买CD。

投资-如公司购买一台电脑。

政府采购-如政府采购战机。

净出口-如美国卖小麦给俄罗斯。

6. 为什么经济学家在判断经济福利时用真实GDP，而不用名义GDP？答：因为实际GDP不受价格波动影响。

7. 在2005年，某个经济生产100个面包，每个以2美元的价格售出。

在2006年，这个经济生产200个面包，每个以3美元的价格售出。

计算每年的名义GDP、真实GDP和GDP平减指数。

（用2005年做基年。

）从一年到下一年这三个统计数字的百分比分别提高了多少？答：名义GDP 实际GDP GDP平减指数2001年200元200元 1002002年600元400元 150增长% 200% 100%50%8. 为何说一国有高的GDP是合意的？举出一个增加GDP但并不合意的例子。

答：GDP大，说明人们可以享有更多的产品和服务。

污染环境的生产，增加GDP，但是不合意。

地震过后，需要清理、重建，增加GDP，但是不合意。

应用题：1. 下列每一种交易会影响GDP的哪一部分（如果有影响的话）？解释之。

a. 家庭购买了一台新冰箱答：消费b. 姑妈买了一所新房子。

曼昆《经济学原理（宏观经济学分册）》（第6版）第28章 失 业课后习题详解跨考网独家整理最全经济学考研真题，经济学考研课后习题解析资料库，您可以在这里查阅历年经济学考研真题，经济学考研课后习题，经济学考研参考书等内容，更有跨考考研历年辅导的经济学学哥学姐的经济学考研经验，从前辈中获得的经验对初学者来说是宝贵的财富，这或许能帮你少走弯路，躲开一些陷阱。

以下内容为跨考网独家整理，如您还需更多考研资料，可选择经济学一对一在线咨询进行咨询。

一、概念题1．劳动力（labor force ）答：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召回的所有人。

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．失业率（unemployment rate ）答：失业率指失业者在劳动力中所占的百分比。

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。

计算方法是失业人数除以劳动力人数再乘以100%，即：失业率＝失业人数/劳动力人数×100%。

失业率可以分别按性别、年龄、种族、产业和职业分组进行计算。

西方各国失业者的统计标准并不相同，一般的标准是：凡是统计时没有工作，但在此以前的4周以内曾做过寻找工作的努力，却没有找到工作的人。

此外，包括在失业者统计范围的还有：①暂时被解雇，正在等待召回的人。

②正等待到新工作岗位报到，但等待时间达30天以上的人。

许多经济学家认为，失业率这一指标并不足以反映一国或地区失业的严重程度，因为还有那些因为寻找工作太难而放弃寻找工作的努力，从而退出劳动力市场成为非劳动力人口的“丧失信心的工人”，他们并没有包括在失业者范围之内。

3．劳动力参工率（labor-force participation rate ） 答：劳动力参工率是指劳动力在成年人口中的百分比。

曼昆《经济学原理（宏观经济学分册）》（第6版）第28章 失 业复习笔记跨考网独家整理最全经济学考研真题，经济学考研课后习题解析资料库，您可以在这里查阅历年经济学考研真题，经济学考研课后习题，经济学考研参考书等内容，更有跨考考研历年辅导的经济学学哥学姐的经济学考研经验，从前辈中获得的经验对初学者来说是宝贵的财富，这或许能帮你少走弯路，躲开一些陷阱。

以下内容为跨考网独家整理，如您还需更多考研资料，可选择经济学一对一在线咨询进行咨询。

一、失业的确认1．如何衡量失业（1）失业失业指在一定年龄范围内，有工作能力，愿意工作并积极寻找工作而未能按当时通行的实际工资水平找到工作的人。

要注意：①年龄规定以外的无工作者不计入失业者。

②丧失工作能力者不计入失业者。

③在校学习的不计入失业者。

④由于某种原因不愿工作或不积极寻找工作的人不计入失业者。

⑤有些未领取失业救济的未登记注册的无工作者，不计入失业者。

衡量经济中失业状况的最基本指标是失业率。

失业率是指失业人数占劳动力总数的百分比，公式表示为：100%=⨯失业人数失业率劳动力人数公式中，劳动力总数是指失业人数和就业人数之和。

（2）充分就业充分就业并非人人都有工作，消灭了周期性失业的就业状态就是充分就业。

由于社会总需求不足而造成的失业称为周期性失业。

由于经济中某些难以克服的原因而造成的失业称为自然失业。

充分就业与自然失业的存在并不矛盾。

实现了充分就业时的失业率就是自然失业率。

劳动力参工率指劳动力在成年人口中所占的百分比，这个统计数字表示人口中选择参与劳动市场的人口的比率。

即：100%劳动力劳动力参工率成年人口=⨯ 经济中总存在某种失业，而且各年的失业量都在变动。

失业率围绕正常失业率而波动。

正常失业率称为自然失业率，失业率与自然失业率的背离称为周期性失业。

（3）失业率不能准确地衡量失业的原因①一些人只是为了能得到政府的福利或由于得到“暗中”支付而装着找工作，他们仍被算在劳动力之中，作为失业者。

曼昆宏观经济学笔记重点————————————————————————————————作者：————————————————————————————————日期：第２3章 一国收入的衡量—GDP微观经济学(ｍｉc ｒoec ｏnomics)研究个别家庭和企业如何做出决策,以及它们如何在市场上相互交易。

宏观经济学（macr ｏe ｃo ｎｏmics ）研究整个经济，包括通货膨胀、失业率和经济增长。

一 GD Ｐ１ 定义:国内生产总值 （gro ｓｓ ｄomestic produc ｔ, GDP ） 是在某一既定时期一个国家内生产的所有最终物品与劳务的市场价值。

2 组成：GDP(用Y 代表)被分为四个组成部分:消费（Ｃ)、投资(I ）、政府购买（G ）、净出口（N Ｘ):Y = C + Ｉ + G + ＮX３ 实际GDP 与名义ＧDP:实际GDP=名义GDP －通货膨胀率，衡量的是生产的变动,而不是物价的变动。

4 ＧDP 平减指数： 100⨯=GDPGDP GDP 实际名义平减指数,是经济学家用来检测经济平均物价水平，从而监测通货膨胀率的一个重要指标。

(GDP defl ａｔor ）5 GDP 与经济福利:➢由于ＧＤP 用市场价格来评价物品与劳务，它就没有把几乎所有在市场之外进行的活动的价值包括进来,特别是，GDP 漏掉了在家庭中生产的物品与劳务的价值。

➢GD Ｐ没有包括的另一种东西是环境质量。

➢G ＤP 也没有涉及收入分配。

二 衡量收入的其他指标：➢国民生产总值(GNP ）:是一国永久居民(称为国民)所赚到的总收入。

它与GDP 的不同之处在于：它包括本国公民在国外赚到的收入，而不包括外国人在本国赚到的收入。

➢国民生产净值(NNP ）：是一国居民的总收入（ＧNP ）减折旧的消耗。

➢国民收入、个人收入、个人可支配收入 第24章 生活费用的衡量—ＣPI一 CPI1 定义：消费物价指数 （co ｎs ｕm ｅｒ ｐrice i ｎd ｅx,ＣP Ｉ) 是普通消费者所购买的物品与劳务的总费用的衡量标准2 计算:定义篮子 → 找出价格 → 计算费用 → 选择基年并计算指数 → 计算通货膨胀率 消费者物价指数=基年一篮子的价格格一篮子物品与劳务的价*10０1001122⨯-=CPICPI CPI 年底年第年第年的通货膨胀率第３ 衡量生活费用过程中存在的问题替代倾向新产品的引进无法衡量的质量变动。