克鲁格曼国际经济学课后答案英语版Word格式文档下载.docx
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克鲁格曼国际经济学课后答案英语版Word格式文档下载.docx
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AnswerstoTextbookProblems
1.a.Theproductionpossibilitycurveisastraightlinethatinterceptstheappleaxisat400(1200/3)andthebananaaxisat600(1200/2).
b.Theopportunitycostofapplesintermsofbananasis3/2.Ittakesthreeunitsoflabortoharvestanapplebutonlytwounitsoflabortoharvestabanana.Ifoneforegoesharvestinganapple,thisfreesupthreeunitsoflabor.These3unitsoflaborcouldthenbeusedtoharvest1.5bananas.
c.Labormobilityensuresacommonwageineachsectorandcompetitionensuresthepriceofgoodsequalstheircostofproduction.Thus,therelativepriceequalstherelativecosts,whichequalsthewagetimestheunitlaborrequirementforapplesdividedbythewagetimestheunitlaborrequirementforbananas.Sincewagesareequalacrosssectors,thepriceratioequalstheratiooftheunitlaborrequirement,whichis3applesper2bananas.
2.a.Theproductionpossibilitycurveislinear,withtheinterceptontheappleaxisequalto160(800/5)andtheinterceptonthebananaaxisequalto800(800/1).
b.Theworldrelativesupplycurveisconstructedbydeterminingthesupplyofapplesrelativetothesupplyofbananasateachrelativeprice.Thelowestrelativepriceatwhichapplesareharvestedis3applesper2bananas.Therelativesupplycurveisflatatthisprice.Themaximumnumberofapplessuppliedatthepriceof3/2is400suppliedbyHomewhile,atthisprice,Foreignharvests800bananasandnoapples,givingamaximumrelativesupplyatthispriceof1/2.Thisrelativesupplyholdsforanypricebetween3/2and5.Atthepriceof5,bothcountrieswouldharvestapples.Therelativesupplycurveisagainflatat5.Thus,therelativesupplycurveisstepshaped,flatattheprice3/2fromtherelativesupplyof0to1/2,verticalattherelativequantity1/2risingfrom3/2to5,andthenflatagainfrom1/2toinfinity.
3.a.Therelativedemandcurveincludesthepoints(1/5,5),(1/2,2),(1,1),(2,1/2).
b.Theequilibriumrelativepriceofapplesisfoundattheintersectionoftherelativedemandandrelativesupplycurves.Thisisthepoint(1/2,2),wheretherelativedemandcurveintersectstheverticalsectionoftherelativesupplycurve.Thustheequilibriumrelativepriceis2.
c.Homeproducesonlyapples,Foreignproducesonlybananas,andeachcountrytradessomeofitsproductfortheproductoftheothercountry.
d.Intheabsenceoftrade,Homecouldgainthreebananasbyforegoingtwoapples,andForeigncouldgainbyoneappleforegoingfivebananas.Tradeallowseachcountrytotradetwobananasforoneapple.HomecouldthengainfourbananasbyforegoingtwoappleswhileForeigncouldgainoneapplebyforegoingonlytwobananas.Eachcountryisbetteroffwithtrade.
4.TheincreaseinthenumberofworkersatHomeshiftsouttherelativesupplyschedulesuchthatthecornerpointsareat(1,3/2)and(1,5)insteadof(1/2,3/2)and(1/2,5).Theintersectionoftherelativedemandandrelativesupplycurvesisnowinthelowerhorizontalsection,atthepoint(2/3,3/2).Inthiscase,ForeignstillgainsfromtradebuttheopportunitycostofbananasintermsofapplesforHomeisthesamewhetherornotthereistrade,soHomeneithergainsnorlosesfromtrade.
5.Thisanswerisidenticaltothatin3.Theamountof"
effectivelabor"
hasnotchangedsincethedoublingofthelaborforceisaccompaniedbyahalvingoftheproductivityoflabor.
6.Thisstatementisjustanexampleofthepauperlaborargumentdiscussedinthechapter.Thepointisthatrelativewageratesdonotcomeoutofthinair;
theyaredeterminedbycomparativeproductivityandtherelativedemandforgoods.Theboxinthechapterprovidesdatawhichshowsthestrongconnectionbetweenwagesandproductivity.Korea'
slowwagepresumablyreflectsthefactthatKoreaislessproductivethantheUnitedStatesinmostindustries.Asthetestexampleillustrated,ahighlyproductivecountrythattradeswithalessproductive,low-wagecountrywillraise,notlower,itsstandardofliving.
7.Theproblemwiththisargumentisthatitdoesnotusealltheinformationneededfordeterminingcomparativeadvantageinproduction:
thiscalculationinvolvesthefourunitlaborrequirements(forboththeindustryandservicesectors,notjustthetwofortheservicesector).Itisnotenoughtocompareonlyservice'
sunitlaborrequirements.Ifals<
als*,Homelaborismoreefficientthanforeignlaborinservices.WhilethisdemonstratesthattheUnitedStateshasanabsoluteadvantageinservices,thisisneitheranecessarynorasufficientconditionfordeterminingcomparativeadvantage.Forthisdetermination,theindustryratiosarealsorequired.Thecompetitiveadvantageofanyindustrydependsonboththerelativeproductivitiesoftheindustriesandtherelativewagesacrossindustries.
8.WhileJapaneseworkersmayearntheequivalentwagesofU.S.workers,thepurchasingpoweroftheirincomeisone-thirdless.Thisimpliesthatalthoughw=w*(moreorless),p<
p*(since3p=p*).SincetheUnitedStatesisconsiderablymoreproductiveinservices,servicepricesarerelativelylow.ThisbenefitsandenhancesU.S.purchasingpower.However,manyoftheseservicescannotbetransportedandhence,arenottraded.ThisimpliesthattheJapanesemaynotbenefitfromthelowerU.S.servicescosts,anddonotfaceaninternationalpricewhichislowerthantheirdomesticprice.Likewise,thepriceofservicesinUnitedStatesdoesnotincreasewiththeopeningoftradesincetheseservicesarenon-traded.Consequently,U.S.purchasingpowerishigherthanthatofJapanduetoitslowerpricesonnon-tradedgoods.
9.Gainsfromtradestillexistinthepresenceofnontradedgoods.Thegainsfromtradedeclineastheshareofnontradedgoodsincreases.Inotherwords,thehighertheportionofgoodswhichdonotenterinternationalmarketplace,thelowerthepotentialgainsfromtrade.Iftransportcostswerehighenoughsothatnogoodsweretradedthen,obviously,therewouldbenogainsfromtrade.
10.Theworldrelativesupplycurveinthiscaseconsistsofastepfunction,withasmany"
steps"
(horizontalportions)astherearecountrieswithdifferentunitlaborrequirementratios.Anycountriestotheleftoftheintersectionoftherelativedemandandrelativesupplycurvesexportthegoodinwhichtheyhaveacomparativeadvantagerelativetoanycountrytotherightoftheintersection.Iftheintersectionoccursinahorizontalportionthenthecountrywiththatpriceratioproducesbothgoods.
CHAPTER3
SpecificFactorsandIncomeDistribution
1.TexasandLouisianaarestateswithlargeoil-producingsectors.Therealwageofoil-producingfactorsofproductionintermsofothergoodsfallswhenthepriceofoilfallsrelativetothepriceofothergoods.Thiswasthesourceofeconomicdeclineinthesestatesin1986.
2.Toanalyzetheeconomy'
sproductionpossibilityfrontier,considerhowtheoutputmixchangesaslaborisshiftedbetweenthetwosectors.
a.Theproductionfunctionsforgoods1and2arestandardplotswithquantitiesontheverticalaxis,laboronthehorizontalaxis,andQ1=Q1(K1,L1)withslopeequaltotheMPL1,andonanothergraph,Q2=Q2(K2,L2)withslopeequaltotheMPL2.
Figure3-1
b.Tographtheproductionpossibilitiesfrontier,combinetheproductionfunctiondiagramswiththeeconomy'
sallocationoflaborinafourquadrantdiagram.Theeconomy'
sPPFisintheupperrighthandcorner,asisillustratedinthefourquadrantdiagramabove.ThePPFiscurvedduetodecliningmarginalproductoflaborineachgood.
3.a.Tosolvethisproblem,onecangraphthedemandcurveforlaborinsector1,representedby(w=MPL1=demandforL1)andthedemandcurveforlaborinsector2,representedby(w=MPL2=demandforL2).Sincethetotalsupplyoflaborisgivenbythehorizontalaxis,thelaborallocationbetweenthesectorsisapproximatelyL1=27andL2=73.Thewagerateisapproximately$0.98.
Figure3-2
b.Usethesametypeofgraphasinproblem2btoshowthatsectoraloutputisQ1=44andQ2=90.(Thisinvolvescombiningtheproductionfunctiondiagramswiththeeconomy'
sPPFisintheupperrighthandcorner,asillustratedinthetext.)
c.Useagraphoflabordemands,asinparta,toshowthattheintersectionofthedemandcurvesforlaboroccursatawagerateapproximatelyequalto$0.74.Therelativedeclineinthepriceofgood2causedlabortobereallocated:
laborisdrawnoutofproductionofgood2andentersproductionofgood1(L1=62,L2=38).Thisalsoleadstoanoutputadjustment,wherebyproductionofgood2fallsto68unitsandproductionofgood1risesto76units.
d.Withtherelativepricechangefromp2/p1=2top2/p1=1,thepriceofgood2hasfallenby50percent,whilethepriceofgood1hasstayedthesame.Wageshavefallen,butbylessthanthefallinp2(wagesfellapproximately25percent).Thus,therealwagerelativetop2actuallyriseswhiletorealwagerelativetop1falls.Hence,todeterminethewelfareconsequencesforworkers,informationisneededabouttheirconsumptionsharesofgood1andgood2.
4.Theboxdiagrampresentedbelowisausefultoolforshowingtheeffectsofincreasingthesupplyofthemobilefactorofproduction,labor.
a.Foraneconomyproducingtwogoods,XandY,withlabordemandsreflectedbytheirmarginalrevenueproductcurves,thereisaninitialwageofw1andaninitiallaborallocationofLx=OxAandLy=OyA.Whenthesupplyoflaborincreases,therightboundaryofthisdiagramispus
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