曼昆宏观经济学最新英文版参考答案第33章.docx
- 文档编号:19137135
- 上传时间:2023-04-24
- 格式:DOCX
- 页数:11
- 大小:169.77KB
曼昆宏观经济学最新英文版参考答案第33章.docx
《曼昆宏观经济学最新英文版参考答案第33章.docx》由会员分享,可在线阅读,更多相关《曼昆宏观经济学最新英文版参考答案第33章.docx(11页珍藏版)》请在冰豆网上搜索。
曼昆宏观经济学最新英文版参考答案第33章
Chapter30
ProblemsandApplications
Figure6
1.a.ThecurrentstateoftheeconomyisshowninFigure6.Theaggregate-demandcurveandshort-runaggregate-supplycurveintersectatthesamepointonthelong-runaggregate-supplycurve.
b.Astockmarketcrashleadstoaleftwardshiftofaggregatedemand.Theequilibriumlevelofoutputandthepricelevelwillfall.Becausethequantityofoutputislessthanthenaturalrateofoutput,theunemploymentratewillriseabovethenaturalrateofunemployment.
c.Ifnominalwagesareunchangedasthepricelevelfalls,firmswillbeforcedtocutbackonemploymentandproduction.Overtimeasexpectationsadjust,theshort-runaggregate-supplycurvewillshifttotheright,movingtheeconomybacktothenaturalrateofoutput.
2.a.WhentheUnitedStatesexperiencesawaveofimmigration,thelaborforceincreases,solong-runaggregatesupplyshiftstotheright.
b.WhenCongressraisestheminimumwageto$10perhour,thenaturalrateofunemploymentrises,sothelong-runaggregate-supplycurveshiftstotheleft.
c.WhenIntelinventsanewandmorepowerfulcomputerchip,productivityincreases,solong-runaggregatesupplyincreasesbecausemoreoutputcanbeproducedwiththesameinputs.
d.WhenaseverehurricanedamagesfactoriesalongtheEastCoast,thecapitalstockissmaller,solong-runaggregatesupplydeclines.
3.a.ThecurrentstateoftheeconomyisshowninFigure7.Theaggregate-demandcurveandshort-runaggregate-supplycurveintersectatthesamepointonthelong-runaggregate-supplycurve.
Figure7
b.Ifthecentralbankincreasesthemoneysupply,aggregatedemandshiftstotheright(topointB).Intheshortrun,thereisanincreaseinoutputandthepricelevel.
c.Overtime,nominalwages,prices,andperceptionswilladjusttothisnewpricelevel.Asaresult,theshort-runaggregate-supplycurvewillshifttotheleft.Theeconomywillreturntoitsnaturalrateofoutput(pointC).
d.Accordingtothesticky-wagetheory,nominalwagesatpointsAandBareequal.However,nominalwagesatpointCarehigher.
e.Accordingtothesticky-wagetheory,realwagesatpointBarelowerthanrealwagesatpointA.However,realwagesatpointsAandCareequal.
f.Yes,thisanalysisisconsistentwithlong-runmonetaryneutrality.Inthelongrun,anincreaseinthemoneysupplycausesanincreaseinthenominalwage,butleavestherealwageunchanged.
4.TheideaoflengtheningtheshoppingperiodbetweenThanksgivingandChristmaswastoincreaseaggregatedemand.AsFigure8shows,thiscouldincreaseoutputbacktoitslong-runequilibriumlevel.
Figure8
5.a.Thestatementthat"theaggregate-demandcurveslopesdownwardbecauseitisthehorizontalsumofthedemandcurvesforindividualgoods"isfalse.Theaggregate-demandcurveslopesdownwardbecauseafallinthepricelevelraisestheoverallquantityofgoodsandservicesdemandedthroughthewealtheffect,theinterest-rateeffect,andtheexchange-rateeffect.
b.Thestatementthat"thelong-runaggregate-supplycurveisverticalbecauseeconomicforcesdonotaffectlong-runaggregatesupply"isfalse.Economicforcesofvariouskinds(suchaspopulationandproductivity)doaffectlong-runaggregatesupply.Thelong-runaggregate-supplycurveisverticalbecausethepriceleveldoesnotaffectlong-runaggregatesupply.
c.Thestatementthat"iffirmsadjustedtheirpriceseveryday,thentheshort-runaggregate-supplycurvewouldbehorizontal"isfalse.Iffirmsadjustedpricesquicklyandifstickypricesweretheonlypossiblecausefortheupwardslopeoftheshort-runaggregate-supplycurve,thentheshort-runaggregate-supplycurvewouldbevertical,nothorizontal.Theshort-runaggregatesupplycurvewouldbehorizontalonlyifpriceswerecompletelyfixed.
d.Thestatementthat"whenevertheeconomyentersarecession,itslong-runaggregate-supplycurveshiftstotheleft"isfalse.Aneconomycouldenterarecessionifeithertheaggregate-demandcurveortheshort-runaggregate-supplycurveshiftstotheleft.
6.a.Accordingtothesticky-wagetheory,theeconomyisinarecessionbecausethepricelevelhasdeclinedsothatrealwagesaretoohigh,thuslabordemandistoolow.Overtime,asnominalwagesareadjustedsothatrealwagesdecline,theeconomyreturnstofullemployment.
Accordingtothesticky-pricetheory,theeconomyisinarecessionbecausenotallpricesadjustquickly.Overtime,firmsareabletoadjusttheirpricesmorefully,andtheeconomyreturnstothelong-runaggregate-supplycurve.
Accordingtothemisperceptionstheory,theeconomyisinarecessionwhenthepricelevelisbelowwhatwasexpected.Overtime,aspeopleobservethelowerpricelevel,theirexpectationsadjust,andtheeconomyreturnstothelong-runaggregate-supplycurve.
b.Thespeedoftherecoveryineachtheorydependsonhowquicklypriceexpectations,wages,andpricesadjust.
Figure9
7.IftheFedincreasesthemoneysupplyandpeopleexpectahigherpricelevel,theaggregate-demandcurveshiftstotherightandtheshort-runaggregate-supplycurveshiftstotheleft,asshowninFigure9.TheeconomymovesfrompointAtopointB,withnochangeinoutputandariseinthepricelevel(toP2).Ifthepublicdoesnotchangeitsexpectationofthepricelevel,theshort-runaggregate-supplycurvedoesnotshift,theeconomyendsupatpointC,andoutputincreasesalongwiththepricelevel(toP3).
8.Figure10depictsaneconomyinarecession.Theshort-runaggregate-supplycurveisAS1andtheeconomyisatequilibriumatpointA,whichistotheleftofthelong-runaggregate-supplycurve.Ifpolicymakerstakenoaction,theeconomywillreturntothelong-runaggregate-supplycurveovertimeastheshort-runaggregate-supplycurveshiftstotherighttoAS2.Theeconomy'snewequilibriumisatpointB.
Figure10
9.a.Peoplewilllikelyexpectthatthenewchairmanwillnotactivelyfightinflationsotheywillexpectthepriceleveltorise.
b.Ifpeoplebelievethatthepricelevelwillbehigheroverthenextyear,workerswillwanthighernominalwages.
c.Higherlaborcostsleadtoreducedprofitability.
d.Theshort-runaggregate-supplycurvewillshifttotheleftasshowninFigure11.
Figure11
e.Adeclineinshort-runaggregatesupplyleadstoreducedoutputandahigherpricelevel.
f.No,thischoicewasprobablynotwise.Theendresultisstagflation,whichprovideslimitedchoicesintermsofpoliciestoremedythesituation.
Figure12
10.a.Ifhouseholdsdecidetosavealargershareoftheirincome,theymustspendlessonconsumergoods,sotheaggregate-demandcurveshiftstotheleft,asshowninFigure12.TheequilibriumchangesfrompointAtopointB,sothepriceleveldeclinesandoutputdeclines.
b.IfFloridaorangegrovessufferaprolongedperiodofbelow-freezingtemperatures,theorangeharvestwillbereduced.ThisdeclineinthenaturalrateofoutputisrepresentedinFigure13byashifttotheleftinboththeshort-runandlong-runaggregate-supplycurves.TheequilibriumchangesfrompointAtopointB,sothepricelevelrisesandoutputdeclines.
Figure13
Figure14
c.Ifincreasedjobopportunitiescausepeopletoleavethecountry,thelong-runandshort-runaggregate-supplycurveswillshifttotheleftbecausetherearefewerpeopleproducingoutput.Theaggregate-demandcurvewillshifttotheleftbecausetherearefewerpeopleconsuminggoodsandservices.Theresultisadeclineinthequantityofoutput,asFigure14shows.Whetherthepricelevelrisesordeclinesdependsontherelativesizesoftheshiftsintheaggregate-demandcurveandtheaggregate-supplycurves.
11.a.Whenthestockmarketdeclinessharply,wealthdeclines,sotheaggregate-demandcurveshiftstotheleft,asshowninFigure15.Intheshortrun,theeconomymovesfrompointAtopointB,asoutputdeclinesandthepriceleveldeclines.Inthelongrun,theshort-runaggregate-supplycurveshiftstotherighttorestoreequilibriumatpointC,withunchangedoutputandalowerpricelevelcomparedtopointA.
Figure15
Figure16
b.Whenthefederalgovernmentincreasesspendingonnationaldefense,theriseingovernmentpurchasesshiftstheaggregate-demandcurvetotheright,asshowninFigure16.Intheshortrun,theeconomymovesfrompointAtopointB,asoutputandthepricelevelrise.Inthelongrun,theshort-runaggregate-supplycurveshiftstothelefttorestoreequilibriumatpointC,withunchangedoutputandahigherpricelevelcomparedtopointA.
Figure17
c.Whenatechnologicalimprovementraisesproductivity,thelong-runandshort-runaggregate-supplycurvesshifttotheright,asshowninFigure17.TheeconomymovesfrompointAtopointB,asoutputrisesandthepriceleveldeclines.
Figure18
d.WhenarecessionoverseascausesforeignerstobuyfewerU.S.goods,netexportsdecline,sotheaggregate-demandcurveshiftstotheleft,asshowninFigure18.Intheshortrun,theeconomymovesfrompointAtopointB,asoutputdeclinesandthepriceleveldeclines.Inthelongrun,theshort-runaggregate-supplycurveshiftstotherighttorestoreequilibriumatpointC,withunchangedoutputandalowerpricelevelcomparedtopointA.
12.a.Iffirmsbecomeoptimisticaboutfuturebusinessconditionsandincreaseinvestment,theresultisshowninFigure19.TheeconomybeginsatpointAwithaggregate-demandcurveAD1andshort-runaggregate-supplycurveAS1.TheequilibriumhaspricelevelP1andoutputlevelY1.Increasedoptimismleadstogreaterinvestment,sotheaggregate-demandcurveshiftstoAD2.NowtheeconomyisatpointB,withpricelevelP2
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 宏观经济学 最新 英文 参考答案 33