andInflation宏观经济学加州大学詹姆斯·布拉德
policy(宏观经济学-加州大学-詹姆斯·布拉德福特·.ppt
Stabilization Policy
13-1
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
Questions
• What principles should guide stabilization policy?
13-3
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
Government Policy
• There are two kinds of government policy
– fiscal policy
– the principal policy-making body of the Federal Reserve system is the Federal Open Market Committee (FOMC)
• the FOMC lowers and raises interest rates and increases and decreases the money supply
13-6
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
Figure 13.1 - Structure of the Federal Reserve System
13-7
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
教案宏观经济学失业与通货膨胀
一次性的价格调整，就不被认为
是通货膨胀。
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教案宏观经济学失业与通货膨胀
30
接上页
通货膨胀是物价总体水平的上升，而不 一定是每一种商品有同一水平上升。
这也不一定是生活水平的下降，因为收 入水平
有可能有或可能没有同一水平上升。
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教案宏观经济学失业与通货膨胀
31
c）、Price Indexes
衡量的是投资品的价格。 是一种批发价格指数。
在美国它包括了3,400种产品 但不包含劳务。
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教案宏观经济学失业与通货膨胀
33
以上二种价格指数 都以基年数量为权重
即： （∑Ptiq0i）/（∑P0iq0i）×100 这类指数也称为
拉氏（Laspeyres）价格指数。
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事实是凯恩斯主义 没有结构性失业的概念的。
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教案宏观经济学失业与通货膨胀
20
接上页
技术失业论，如马克思认为 有机构成的提高，
会造成失业的增加。 货币失业（供给不足）论。
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教案宏观经济学失业与通货膨胀
21
Classical Unemployment
古典的失业
经济高速发展：消费结构迅速变化。
解放鞋与旅游鞋。
产业技术迅速变化：电脑代替打字机。
产业结构迅速变化：石油代替煤。
中国经济体制改革使潜在失业显性化，
集中游离出劳动素质低的员工。
人力资源中知识存量的刚性与
21.11.2020
求职者教案在宏观职经济的学失业相与通对货膨刚胀 性。
18
Cyclical Unemployment
宏观经济学题库3简答题
3．为什么通货膨胀会有惯性？Why might inflation be inertial ？答：通货膨胀有惯性是因为人们总是根据目前所观测到的通货膨胀来修订他们对将来通货膨胀的预期。
比如，若价格水平正在快速上升，人们会预期价格继续急速上涨。
而通货膨胀预期又影响了人们在签订将来的合同时，对价格的设定。
即：如果现在的通货膨胀高，那么人们有理由相信将来通货膨胀仍将继续保持较高水平，因此，在各种合同中都把价格相应提高。
这样，表现出来的是物价水平持续上升。
4．解释需求拉动型通货膨胀与供给推动型通货膨胀之间的差别。
Explain the differences between demand-pull inflation and cost-push inflation.答：（1）需求拉动型通货膨胀指总需求超过总供给所引起的一般价格水平的持续显著上涨。
供给推动型通货膨胀是在没有超额需求的情况下，由于供给方面成本的提高所引起的一般价格水平持续和显著地上涨，它又可以分为工资推动通货膨胀及利润推动通货膨胀。
（2）需求拉动型通货膨胀与供给推动型通货膨胀的区别主要表现在以下两个方面： ①造成通货膨胀的原因不同。
需求拉动型通货膨胀产生的原因在于：在总产量达到一定产量后，当需求增加时，供给会增加一部分，但供给的增加会遇到生产过程中的瓶颈现象，即由于劳动、原料、生产设备的不足使成本提高，从而引起价格上升。
或者在产量达到最大，即为充分就业时的产量时，当需求增加时，供给也不会增加，总需求增加只会引起价格的上涨。
消费需求、投资需求或来自政府的需求、国外需求都会导致需求拉动型通货膨胀。
供给推动型通货膨胀产生的原因在于：不完全竞争的劳动市场造成的过高工资所导致的一般价格水平的上涨，或者垄断企业和寡头企业利用市场势力谋取过高利润所导致的一般价格水平的上涨，前者因为工会的力量导致非市场化的工资，后者因为垄断导致非市场化的产品定价。
②对经济的影响效果不同。
mei宏观经济学名词解释
mei宏观经济学名词解释宏观经济学是研究整体经济运行和调控的学科。
以下是几个与宏观经济学相关的名词解释：1. 国内生产总值（Gross Domestic Product, GDP）：表示一个国家或地区在一定时期内生产的全部最终商品和服务的总价值。
GDP是衡量经济活动和国民经济总体发展水平的重要指标。
2. 供给与需求（Supply and Demand）：供给是市场上生产者为销售商品和服务而愿意提供的数量，需求是市场上消费者愿意购买的商品和服务的数量。
供给与需求的关系决定了市场均衡价格和数量。
3. 通货膨胀（Inflation）：指物价总水平持续上涨的情况。
通货膨胀可能导致货币贬值，购买力下降。
4. 失业率（Unemployment Rate）：用于衡量劳动力市场上没有工作但愿意工作的人口比例。
失业率是评估经济状况和就业机会的重要指标。
5. 货币政策（Monetary Policy）：由央行（例如：美联储）制定和执行的一系列措施，通过调整利率、货币供应量等手段来影响经济活动和通货膨胀水平。
6. 财政政策（Fiscal Policy）：政府通过调整支出和税收政策来影响经济活动和资源分配的手段。
财政政策可以通过刺激经济或调节经济波动来实现宏观经济目标。
7. 经济增长（Economic Growth）：一个经济体在一定时期内实际产出的总量增加。
经济增长通常被认为是一个国家或地区经济发展的重要目标。
8. 外汇市场（Foreign Exchange Market）：国际货币兑换的市场，也是不同国家货币汇率形成的地方。
外汇市场对国际贸易和跨国投资等经济活动具有重要影响。
9. 经济周期（Business Cycle）：经济活动波动的周期性变化。
经济周期包括扩张阶段、高峰阶段、衰退阶段和底部阶段，不同阶段的经济表现和政策需求有所不同。
10. 国际贸易（International Trade）：不同国家和地区之间的商品和服务交换。
宏观经济学英文版
宏观经济学英文版English: Macroeconomics is a branch of economics that studies the behavior of an economy as a whole, focusing on factors such as inflation, unemployment, economic growth, and monetary and fiscal policies. It explores the aggregate outcomes of individual decisions made by households, businesses, and governments, and seeks to understand how these decisions impact overall economic performance. Macroeconomists use models to analyze and predict economic trends, and to formulate policies that can help stabilize and promote sustainable growth in the economy. By studying the relationships between different macroeconomic variables, such as consumption, investment, and government spending, macroeconomics provides valuable insights into how policymakers can manage economic fluctuations and achieve national economic goals. Overall, macroeconomics plays a crucial role in shaping government policies, business strategies, and individual financial decisions, by providing a framework for understanding and addressing the complex dynamics of modern economies.中文翻译: 宏观经济学是经济学的一个分支，研究整体经济行为，专注于通货膨胀、失业、经济增长以及货币和财政政策等因素。
曼昆《经济学原理》（宏观）第五版测试题库（30）
曼昆《经济学原理》（宏观）第五版测试题库（30）Chapter 30Money Growth and InflationTRUE/FALSE1. The inflation rate is measured as the percentage change in a price index.ANS: T DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: InflationKEY: MSC: Definitional2. U.S. prices rose at an average annual rate of about 4 percent over the last 70 years.ANS: T DIF: 1 REF: 30-0NAT: Analytic LOC: The role of money TOP: InflationMSC: Analytical3. The United States has never had deflation.ANS: F DIF: 1 REF: 30-0NAT: Analytic LOC: The role of money TOP: DeflationMSC: Definitional4. In the 1990s, U.S. prices rose at about the same rate as in the 1970s.ANS: F DIF: 1 REF: 30-0NAT: Analytic LOC: The role of money TOP: U.S. inflationMSC: Definitional5. As the price level falls, the value of money falls.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Value | MoneyMSC: Interpretive6. The price level is determined by the supply of, and demand for, money.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Definitional7. If the quantity of money supplied is greater than the quantity demanded, then prices should fall.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Analytical8. Dollar prices and relative prices are both nominal variables.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of moneyTOP: Nominal variables | Real variables MSC: Definitional9. The quantity equation is M x V = P x Y.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Quantity equationMSC: Definitional10. According to the Fisher effect, if inflation rises then the nominal interest rate rises.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Fisher effectMSC: Definitional11. An increase in money demand would create a surplus of money at the original value of money.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Applicative201412. Hyperinflations are associated with governments printing money to finance expenditures.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: Unemployment and inflation TOP: HyperinflationMSC: Definitional13. For a given level of money and real GDP, an increase in velocity would lead to an increase in the price level. ANS: T DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Velocity of moneyMSC: Analytical14. The quantity theory of money can explain hyperinflations but not moderate i nflation.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: HyperinflationMSC: Interpretive15. If P represents the price of goods and services measured in money, then 1/P is the value of money measured interms of goods and services.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money | ValueMSC: Interpretive16. When the value of money is on the vertical axis, an increase in the price level shifts money demand to theright.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money demandMSC: Applicative17. The money supply curve shifts to the left when the Fed buys government bonds.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money supplyMSC: Analytical18. When the value of money is on the vertical axis, the money supply curve slopes upward because an increase in the value of money induces banks to create more money.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money supplyMSC: Definitional19. If the Fed increases the money supply, the equilibrium value of money decreases and the equilibrium price level increases.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Analytical20. A rising price level eliminates an excess supply of money.ANS: T DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Analytical21. A rising value of money eliminates an excess supply of money.ANS: F DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Money marketMSC: Analytical22. Nominal GDP measures output of final goods and services in physical terms.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Nominal variablesMSC: Interpretive2016 Chapter 30 /Money Growth and Inflation23. The classical dichotomy is useful for analyzing the economy because in the long run nominal variables are heavily influenced by developments in the monetary system, and real variables are not.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Classical dichotomyMSC: Definitional24. The irrelevance of monetary changes for real variables is called monetary neutrality. Most economists accept monetary neutrality as a good description of the economy in the long run, but not the short run.ANS: T DIF: 2 REF: 30-1NAT: Analytic LOC: The role of money TOP: Monetary neutralityMSC: Interpretive25. The quantity theory of money implies that if output and velocity are constant, then a 50 percent increase in themoney supply would lead to less than a 50 percent increase in the price level.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Quantity theoryMSC: Applicative26. The source of all four classic hyperinflations was high rates of money growth.ANS: T DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: HyperinflationMSC: Definitional27. In the long run, an increase in the growth rate of the money supply leads to an increase in the real interest rate,but no change in the nominal interest rate.ANS: F DIF: 1 REF: 30-1NAT: Analytic LOC: The role of money TOP: Quantity theoryMSC: Definitional28. Inflation induces people to spend more resources maintaining lower money holdings. The costs of doing thisare called shoeleather costs.ANS: T DIF: 1 REF: 30-2NAT: Analytic LOC: The role of money TOP: Shoeleather costs of inflation MSC: Definitional29. Shoeleather costs and menu costs are both costs of anticipated inflation.ANS: T DIF: 1 REF: 30-2NAT: Analytic LOC: Unemployment and inflationTOP: Shoeleather costs of inflation | Menu costs o f inflation MSC: Definitional30. For a given real interest rate, an increase in the inflation rate reduces the after-tax real interest rate.ANS: T DIF: 2 REF: 30-2NAT: Analytic LOC: Unemployment and inflation TOP:Inflation | Taxes | Real interest rate MSC: Analytical31. Inflation necessarily distorts saving when either real interest income or nominal interest income is taxed. ANS: F DIF: 2 REF: 30-2NAT: Analytic LOC: The role of money TOP: Inflation | Real interest rate MSC: Interpretive32. Inflation distorts savings when real interest income, rather than nominal interest income, is taxed.ANS: F DIF: 2 REF: 30-2NAT: Analytic LOC: The role of money TOP: Inflation | Real interest rate MSC: Interpretive33. Suppose the nominal interest rate is 10 percent; the tax rate on interest income is 28 percent, and the inflationrate is 6 percent. Then the after-tax real interest rate is -3.2 percent.ANS: F DIF: 2 REF: 30-2NAT: Analytic LOC: The role of money TOP: Taxes | Real interest rateMSC: Interpretive34. Suppose the nominal interest rate is 5 percent; the tax rate on interest income is 30 percent, and the after-taxreal interest rate is 0.8 percent. Then the inflation rate is 2.7 percent.ANS: T DIF: 2 REF: 30-2NAT: Analytic LOC: The role of money TOP: Taxes | Real interest rate MSC: Interpretive35. If the Fed were to unexpectedly increase the money supply, creditors would gain at the expense of debtors. ANS: F DIF: 1 REF: 30-2NAT: Analytic LOC: The role of moneyTOP: Wealth redistribution | Inflation MSC: Applicative36. If inflation is higher than expected, then borrowers make nominal interest payments that are less than theyexpected.ANS: F DIF: 2 REF: 30-2NAT: Analytic LOC: Unemployment and inflation TOP: Menu costs of inflationMSC: Applicative37. Inflation is costly only if it is unanticipated.ANS: F DIF: 1 REF: 30-2NAT: Analytic LOC: Unemployment and inflation TOP: Inflation costsMSC: Interpretive38. Even though monetary policy is neutral in the short run, it may have profound real effects in the long run. ANS: F DIF: 1 REF: 30-3NAT: Analytic LOC: The role of money TOP: Monetary neutralityMSC: InterpretiveSHORT ANSWER1. Why did farmers in the late 1800s dislike deflation?ANS:Most had large nominal debts. The decrease in the price level meant that they received less for what they produced and so made it harder to pay off the debts whose real value rose as prices fell.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Deflation MSC: Analytical2. Explain the adjustment process in the money market that creates a change in the price level when the moneysupply increases.ANS:When the money supply increases, there is an excess supply of money at the original value of money. After the money supply increases, people have more money than they want to hold in their purses, wallets and checking accounts. They use this excess money to buy goods and services or lend it out to other people to buy goods and services. The increase in expenditures causes prices to rise and the value of money to fall. As the value of money falls, the quantity of money people want to hold increases so that the excess supply is eliminated. At the end of this process the money market is in equilibrium at a higher price level and a lower value of money.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Money marketMSC: Analytical2018 Chapter 30 /Money Growth and Inflation3. Suppose the Fed sells government bonds. Use a graph of the money market to show what this does to the valueof money.ANS:When the Fed sells government bonds, the money supply decreases. This shifts the money supply curve from MS1 to MS2 and makes the value of money increase. Since money is worth more, it takes less to buy goods with it, which means the price level falls.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Money marketMSC: Analytical4. Using separate graphs, demonstrate what happens to the money supply, money demand, the value of money,and the price level if:a. the Fed increases the money supply.b. people decide to demand less money at each value of money.ANS:a. The Fed increases the money supply. When the Fed increases the money supply, the money supply curveshifts right from MS1 to MS2. This shift causes the value of money to fall, so the price level rises.b. People decide to demand less money at each value of money. Since people want to hold less at eachvalue of money, it follows that the money demand curve will shift to the left from MD1 to MD2. Thedecrease in money demand results in a lower value of money and so a higher price level.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Money marketMSC: Analytical5. According to the classical dichotomy, what changes nominal variables? What changes real variables? ANS:The classical dichotomy argues that nominal variables are determined primarily by developments in the monetary system such as changes in money demand and supply. Real variables are largely independent of the monetary system and are determined by productivity and real changes in the factor and loanable funds markets.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Classical dichotomyMSC: Definitional6. Suppose that monetary neutrality holds. Of the following variables, which ones do not change when themoney supply increases?a. real interest ratesb. inflationc. the price leveld. real outpute. real wagesf. nominal wagesANS:a. real interest ratesd. real outpute. real wagesDIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Monetary neutralityMSC: Interpretive7. Wages and prices are many times higher today than they were 30 years ago, yet people do not work a lot morehours or buy fewer goods. How can this be?ANS:Inflation has raised the general price level. An increase in the general price level has no effect on real variables in the long run. Wages are higher, but so are prices. Prices are higher, but so are wages and incomes. In the long run, people change their behavior in response to changes in real variables, not nominal ones.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Nominal variables | Real variablesMSC: Interpretive8. Identify each of the following as nominal or real variables.a. the physical output of goods and servicesb. the overall price levelc. the dollar price of applesd. the price of apples relative to the price of orangese. the unemployment ratef. the amount that shows up on your paycheck after taxesg. the amount of goods you can purchase with the wage you get each hourh. the taxes that you pay the governmentANS:a. real variableb. nominal variablec. nominal variabled. real variablee. real variablef. nominal variableg. real variableh. nominal variableDIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Nominal variables | Real variablesMSC: Interpretive2020 Chapter 30 /Money Growth and Inflation9. Define each of the symbols and explain the meaning o f M V = P Y.ANS:M is the quantity of money, V is the velocity of money, P is the price level, and Y is the quantity of o utput. P Y is nominal GDP. The amount people spend should equal the amount of money in the economy times the average number of times each unit of currency is spent.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Velocity MSC: Definitional10. What assumptions are necessary to argue that the quantity equation implies that increases in the money supplylead to proportional changes in the price level?ANS:We must suppose that V is relatively constant and that changes in the money supply have no effect on real output. DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Quantity theoryMSC: Definitional11. What is the inflation tax, and how might it explain the creation of inflation by a central bank?ANS:The inflation tax refers to the fact that inflation is a tax on money. When prices rise, the value of money currently held is reduced. Hence, when a government raises revenue by printing money, it obtains resources from households by taxing their money holdings through inflation rather than by sending them a tax bill. In countries where governments are unable or unwilling to raise revenues by raising taxes explicitly, the inflation tax may be an alternative source of revenue.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Inflation tax MSC: Interpretive12. Economists agree that increases in the money-supply growth rate increase inflation and that inflation isundesirable. So why have there been hyperinflations and how have they been ended?ANS:Typically, the government in countries that had hyperinflation started with high spending, inadequate tax revenue, and limited ability to borrow. Therefore, they turned to the printing presses to pay their bills. Massive and continued increases in the quantity of money led to hyperinflation, which ended when the governments instituted fiscal reforms eliminating the need for the inflation tax and subsequently slowed money supply growth.DIF: 2 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: HyperinflationMSC: Interpretive13. Suppose that velocity and output are constant and that the quantity theory and the Fisher effect both hold.What happens to inflation, real interest rates, and nominal interest rates when the money supply growth rate increases from 5 percent to 10 percent?ANS:Inflation and nominal interest rates each increase by 5 percent points. There is no change in the real interest rate or any other real variable.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Inflation MSC: Analytical14. In recent years Venezuela and Russia have had much higher nominal interest rates than the United Stateswhile Japan has had lower nominal interest rates. What would you predict is true about money growth in these other countries? Why?ANS:The Fisher effect says that increases in the inflation rate lead to one-to-one increases in nominal interest rates. The quantity theory says that in the long run, inflation increases one-to-one with money supply growth. It follows that differences in nominal interest rates may be due to differences in money supply growth rates. It is reasonable to guess that much higher nominal interest rates in Venezuela and Russia indicate higher money supply growth while lower interest rates in Japan indicate lower money supply growth.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Fisher effect MSC: Applicative15. The U.S. Treasury Department issues inflation-indexed bonds. What are inflation-indexed bonds and why arethey important?ANS:Inflation-indexed bonds are bonds whose interest and principal payments are adjusted upward for inflation, guaranteeing their real purchasing power in the future. They are important because they provide a safe, inflation- proof asset for savers and they may allow the Treasury to borrow more easily at a lower current cost.DIF: 1 REF: 30-1 NAT: AnalyticLOC: The role of money TOP: Index bonds MSC: Definitional16. List and define any two of the costs of high inflation.ANS:The costs include:Shoeleather costs: the resources wasted when inflation induces people to reduce their money holdings.Menu costs: the cost of more frequent price changes at higher inflation rates.Relative Price Variability: because prices change infrequently, higher inflation causes relative prices to vary more. Decisions based on relative prices are then distorted so that resources may not be allocated efficiently.Inflation Induced Tax Distortions: the income tax is not completely indexed for inflation; an increase in nominal income created by inflation results in higher real tax rates that discourage savings.Confusion and Inconvenience: inflation decreases the reliability of the unit of account making it more complicated to differentiate successful and unsuccessful firms thereby impeding the efficient allocation of funds to alternative investments.Unexpected Inflation: inflation decreases the real value of debt thereby transferring wealth from creditors to debtors. DIF: 1 REF: 30-2 NAT: AnalyticLOC: The role of money TOP: Inflation costsMSC: Definitional17. Inflation distorts relative prices. What does this mean and why does it impose a cost on society?ANS:Relative prices are the value of one good in terms of other goods. Relative prices ordinarily provide signals concerning therelative scarcity of goods so the goods may be allocated efficiently. Some prices change infrequently, so that when inflation rises, there is greater variation in relative prices. However, changes in relative prices created by inflation do not signal changes in the scarcity of goods and so lead to an inefficient allocation of goods and resources.DIF: 1 REF: 30-2 NAT: AnalyticLOC: The role of money TOP: Relative price variabilityMSC: Interpretive18. Explain how inflation affects savings.ANS:Inflation discourages savings. Income tax is collected on nominal rather than real interest rates. So an increase in inflation will increase nominal interest rates and taxes. The increase in taxes in turn lowers the real return on savings and so discourages savings.DIF: 1 REF: 30-2 NAT: AnalyticLOC: The role of money TOP: Saving | InflationMSC: Applicative2022 Chapter 30 /Money Growth and Inflation19. The U.S. Treasury Department began issuing inflation-indexed bonds in early 1997. Since these assets arevirtually risk free, both in terms of default risk and inflation risk, will they quickly replace all other kinds of assets that still entail risk of one kind or another, such as ordinary government bonds or corporate bonds?Explain.ANS:When individuals are choosing between assets of different kinds, they consider both expected return and risk. Because the new inflation-indexed bonds have very low risk, they will also have very low real interest rates. So they will not replace other, more risky assets that promise to pay a much higher real interest rate. They do, however, offer a way of escaping some inflation risk, and have become a popular addition to portfolios.DIF: 1 REF: 30-2 NAT: AnalyticLOC: The role of money TOP: Index bonds MSC: AnalyticalSec00 - Money Growth and InflationMULTIPLE CHOICE1. Over the past 70 years, prices in the U.S. have risen on average abouta. 2 percent per year.b. 4 percent per year.c. 6 percent per year.d. 8 percent per year.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Definitional2. Over the past 70 years, the overall price level in the U.S. has experienced a(n)a. 4-fold increase.b. 8-fold increase.c. 12-fold increase.d. 16-fold increase.ANS: D DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Definitional3. Over the last 70 years, the average annual U.S. inflation rate was abouta. 2 percent, implying that prices have increased 10-fold.b. 4 percent, implying that prices have increased 10-fold.c. 2 percent, implying that prices have increased 16-fold.d. 4 percent, implying that prices increased about 16-fold.ANS: D DIF: 2 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Definitional4. Inflation can be measured by thea. change in the consumer price index.b. percentage change in the consumer price index.c. percentage change in the price of a specific commodity.d. change in the price of a specific commodity.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: InflationMSC: Definitional5. Which of the following is not correct?a. The inflation rate is measured as the percentage change in a price index.b. For the last 40 or so years, U.S. inflation hasn’t shown much variation from its average rate of about 2 percent.c. During the 19th century there were long periods of falling prices.d. Some economists argue that the costs of moderate inflation are not nearly as large as the general public believes.ANS: B DIF: 2 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: InflationMSC: Interpretive6. In which of the following cases was the inflation rate 10 percent over the last year?a. One year ago the price index had a value of 110 and now it has a value of 120.b. One year ago the price index had a value of 120 and now it has a value of 132.c. One year ago the price index had a value of 126 and now it has a value of 140.d. One year ago the price index had a value of 145 and now it has a value of 163. ANS: B DIF: 2 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Applicative7. If the price level increased from 120 to 126, then what was the inflation rate?a. 3 percentb. 5 percentc. 6 percentd. None of the above is correct.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Applicative8. If the price level increased from 120 to 150, then what was the inflation rate?a. 30 percentb. 25 percentc. 20 percentd. None of the above is correct.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: Inflation rateMSC: Applicative9. When prices are falling, economists say that there isa. disinflation.b. deflation.c. a contraction.d. an inverted inflation.ANS: B DIF: 1 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: DeflationMSC: Definitional10. Deflationa. increases incomes and enhances the ability of debtors to pay off their debts.b. increases incomes and reduces the ability of debtors to pay off their debts.c. decreases incomes and enhances the ability of debtors to pay off their debts.d. decreases incomes and reduces the ability of debtors to pay off their debts. ANS: D DIF: 2 REF: 30-0NAT: Analytic LOC: Unemployment and inflation TOP: DeflationMSC: Interpretive。
通货膨胀的书
通货膨胀的书
以下是一些关于通货膨胀的书籍推荐：
1. 《通货膨胀和通货紧缩》（Inflation and Deflation）- 亨利·史克雷奇
这本书是一本具有历史和经济学视角的通货膨胀与通货紧缩研究的经典著作，可以帮助读者更好地理解通货膨胀的原因和影响。
2. 《通货膨胀的万物论》（The Inflationary Universe）- 亚伯特·利斯捷夫
这本书主要关注通货膨胀在宇宙学中的作用，讨论了宇宙通货膨胀的起源和未来发展的可能性，是一本结合了物理学和经济学的独特著作。
3. 《通货膨胀与股市》（Inflation and the Stock Market）- Anthony Boeckh
这本书探讨了通货膨胀对股票市场的影响，讲解了通货膨胀如何通过影响利率、企业盈利和股票市场情绪而影响股票投资。
4. 《通货膨胀：经济与金融的百科全书》（Inflation: Causes, Consequences, and Cures）- Robert E. Hall、John B. Taylor
这本书是一本全面深入地研究通货膨胀的参考书籍，涵盖了通货膨胀的原因、后果以及治理方法，对经济学和金融学的学生和专业人士都有很大的价值。
5. 《通货膨胀与货币价值的历史纵览》（A History of
Inflationary Money）- Arthur M. Silvergate
这本书提供了对货币通货膨胀的历史研究，从古代到现代的货币膨胀现象进行了概述，可以让读者对货币通胀问题有更全面的认识。
以上是一些关于通货膨胀的书籍推荐，覆盖了不同的主题和视角，读者可以根据自己的兴趣和需求进行选择。
宏观经济学-布兰查德第六版-第12章
1、失业率u uU L
U—— 失业人口 L—— 总的劳动力人口
Labor force = employed + unemployed L= N + U
失业人口统计： （1）在失业办公室登记的人；（40年代，动机） （2）家庭调查。（现在，较准确）
欧元区与欧盟28国的失业率
EU28
经济学家关注失业率的原因
25
21.3
20
RGDP%
15
10
7.6
5
0
1953 1955 1957 1959 1961 1965 1969 1973 1977 1981 1985 1989 1993 1997 2001 2003 2005 2007 2009 2011 2013 2015
-5
-10
-15
-20
-25
-30
-29.7
※支出法： GDP=全社会对当期生产的最终产品的购买支出 GDP=200美元
2、名义GDP与实际GDP
• 名义GDP：以当年价格计算的GDP • 实际GDP：以基年价格计算的GDP
美国的名义GDP、实际GDP
以1995年不变价格计算
当产品的质量 发生改变时，如 何测量实际GDP 是一个困难。
二、其它主要宏观经济变量
（2）通货膨胀率π
• 总体价格水平的变化率 π = Pt – P t-1 P t-1
通货膨胀：总体价格水平的持续上涨 通货紧缩：总体价格水平的持续下降
为什么宏观经济学家关注通货膨胀
• 因为没有所谓的纯粹通货膨胀
（1）在通货膨胀时期，并非所有的价格和工资都是按同比例上 升的，因此，通货膨胀会影响是收入水平。（退休人员） （2）通货膨胀还会导致其它扭曲。相对价格变化导致更多的不 确定性（价格管制）、税收等级调整（税级攀升）等。
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CHAPTER 8
Money, Prices, and Inflation
1
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
Questions
• What do economists mean by “money”?
2
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
Questions
• Why would a government ever generate “hyperinflation”?
• What determines the level of money demand?
Inflation
• In the 1970s, the United States experienced an episode of relatively mild inflation
– prices rose between five and ten percent per year
– caused significant economic and political trauma
Figure 8.2 - Coincidence of Wants
9
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
The Usefulness of Money
• Money also serves as a unit of account
Figure 8.1 - Post-World War II Inflation in the United States, 1951-2000
5
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
The Flexible-Price Model
• avoiding a repeat of the inflation of the 1970s remains a major goal of economic policy
4
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
• Without money, market transactions would have to be performed through barter
• In a barter economy, market exchange would require the coincidence of wants
Money
• is wealth that is held in a readilyspendable form
• is made up of
– coin and currency – checking account balances – other assets that can be turned into cash
– money is used as a yardstick to measure value or quote prices
• Anything that alters the real value of money in terms of its purchasing power will also alter the real terms of existing contracts that use the money as a unit of account
– money is “neutral”
• This is a special feature of the fullemployment flexible-price model
6
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
– you would have to have some good or service that someone wants and he or she would have to have some good or service that you want
8
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
• Why is money useful? • What do economists mean when they
say that money is a unit of account? • What determines the price level and
the inflation rate?
• What determines the level of the money supply?
• Why is inflation seen as something to be avoided?
3
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
or demand deposits nearly instantaneously, without risk or cost
7
Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved.
The Usefulness of Money