布兰查德blancard宏观经济学课后习题答案(英文版)第二版
布兰查德课后习题答案(1-13章)(毕博).doc
第1-13章课后习题答案（布兰查德）第一章世界之旅pl4a.True.b.True/Uncertain. Stock prices certainly fell around the world in the crisis. Emerging marketstock prices mostly recovered as of 2010, stock prices in the United States and otheradvanced companies had not reached their pre-crisis levels as of 2012.c.False.d.False. There are problems with the statistics, but the consensus is that growth in China has been high.e.False. European unemployment rates have been higher for several decades.f.True.g.True.h.Falsea.14.7(1.026)=5.8(1.105/t= /n(14.7€.8)/[/r?(l.10^1.026)]t = 12.53 yrsThis answer can be confirmed with a spreadsheet, for students unfamiliar with the use oflogarithms.b.No. At current growth rates, Chinese output will exceed U.S. output within 31 years, but Chineseoutput per person (the Chinese standard of living) will still be less than U.S. output per person.c.China has increased the amount of capital per person. This is possible in the United States.China has imported a lot of technology from the United States and other countries. This ismore difficult to do in the United States since the number of technologies available for theUnited States to import that they do not already have is fewer.d.China does provide a model for other developing countries.第二章本书之旅p38第1题a.True/Uncertain. Real GDP increased by a factor of 5; nominal GDP increased by afactor of 28. We usually think of GDP in real termsb.False.c.True.d.False. The level of the CPI means nothing. The rate of change of the CPI is one measure of inflation.e.Uncertain. Which index is better depends on what we are trying to measure—inflation faced by consumers or by the economy as a whole.f.Trueg.Trueh.Falsei.False. The Phillips curve is a relation between the change in inflation and the level ofunemployment.第4题a.2005 GDP: 10($2z000)+4($l,000)+1000($l)=$25,0002006 GDP: 12($3,000)+6($500)+1000($l)=$40,000 Nominal GDP has increased by 60%.b.2005 real (2005) GDP: $25,0002006 real (2005) GDP: 12($2,000)+6($l z000)+1000($l)=$31,000Real (2006) GDP has increased by 24%.c.2005 real (2006) GDP: 10($3,000)+4($500)+l,000($l)=$33,0002006 real (2006) GDP: $40,000.Real (2006) GDP has increased by 21.2%.d.The answers measure real GDP growth in different units. Neither answer is incorrect,just as measurement in inches is not more or less correct than measurement incentimeters.第5题a.2005 base year:b.Deflator(2005)=l; Deflator(2006)=$40,000/$31,000=1.29 lnflation=29%c.2006 base year:Deflator(2005)=$25,000/$33,000=0.76; Deflator(2006)=llnflation=(l-0.76)/0.76=.32=32%d.Analogous to 4d.第6题a.2005 real GDP = 10($2,500) + 4($750) + 1000($l) = $29,0002006 real GDP = 12($2,500) + 6($750) + 1000($l) = $35,500b.(35,500-29,000)/29,000 = .224 = 22.4%c.Deflator in 2005=$25,000/$29,000=.86Deflator in 2006=$40,000/$35z500=1.13Inflation = (1.13 -.86)/.86 = .31 = 31%.a.Yes, see appendix for further discussion.第三章商品市场p64a.True.b.False. Government spending excluding transfers was 20.4% of GDP.c.False. The propensity to consume must be less than one for our model to make sense.d.True.e.False.f.False. The increase in equilibrium output is one times the multiplier.g.False.a.Output will fall.b.Since output falls, investment will also fall. Public saving will not change. Privatesaving will fall, since investment falls, and investment equals saving. Since output andconsumer confidence fall, consumption will also fall.c.Output, investment, and private saving would have risen.d.Clearly this logic is faulty. When output is low, what is needed is an attempt byconsumers to spend more. This will lead to an increase in output, and therefore—somewhat paradoxically—to an increase in private saving. Note, however,that with a linear consumption function, the private saving rate (private savingdivided by output) will fall when c0 rises.第四章金融市场p86a.False.b.False.c.False. Money demand describes the portfolio decision to hold wealth in the form ofmoney rather than in the form of bonds. The interest rate on bonds is relevant to thisdecision.d.True.e.False.f.False.g.True.h.True.a.8° = 50,000-60,000 (.35-i)If the interest rate increases by 10 percentage points, bond demand increases by $6,000.b.An increase in wealth increases bond demand, but has no effect on money demand, whichdepends on income (a proxy for transactions demand).c.An increase in income increases money demand, but decreases bond demand, since weimplicitly hold wealth constant.d.First of all, the use of "money" in this statement is colloquial. "Income" should be substituted for "money." Second, when people earn more income, their wealth does not change right away. Thus, they increase their demand for money and decrease their demand for bonds.a.All money is in checking accounts, so demand for central bank money equals demand forreserves. Therefore, demand for central bank money=0.1($Y)(.8-4/).b.$1000 = 0.1($5,000B)(.8-4/)上15%c.Since the public holds no currency, money multiplier = 1/reserve ratio =M=(10)$1000=$l,0000M= M d at the interest derived in part (b).d.If H increases to $300B the interest rate falls to 5%.e.The interest rate falls to 5%, since when H equals $3000, M=(10)$300B=$3,0000.a.True.b.True.c.False.d.e. False.f.第五章商品市场和金融市场pl07False. The balanced budget multiplier is positive (it equals one), so the IS curve shifts right. Uncertain. An increase in government spending leads to an increase in output (which tends to increase investment), but also to an increase in the interest rate (which tends to reduce investment).g. True.a.y=C+/+G=200+.25(r-200)+150+.25M000/+25001100-2000，b.M/P= 1600=2 r-8000//= W00-1/5c.Substituting from part (b) into part (a) gives X=1000.d.Substituting from part (c) into part (b) gives /=5%.e.C=400; /=350; G=250; C+/+G=1000f./=1040; /=3%; C=410; /=380. A monetary expansion reduces the interest rate and increasesoutput. Consumption increases because output increases. Investment increases becauseoutput increases and the interest rate decreases.g./=1200; /=10%; C=450; /=350. A fiscal expansion increases output and the interest rate.Consumption increases because output increases. Investment is affected in two ways: theincrease in output tends to increase investment, and the increase in the interest rate tendsto reduce investment. In this example, these two effects exactly offset one another, andinvestment does not change.第六章劳动力市场pl32第1题a.False. The participation rate has increased over time.b.False.c.False.d.True.e.False.f.Uncertain/False. The degree of bargaining power depends on the nature of the job andthe employee's skills.g.True.h.False.a.W/P=l/(l+|i)=V1.05=0.952b.Wage setting: u=l-W/P=l-0.952=4.8%c.W/P=l/l・l=・91; u=l-.91=9%. The increase in the markup lowers the real wage.Algebraically, from the wage-setting equation, the unemployment rate must rise for the realwage to fall. So the natural rate increases. Intuitively, an increase in the markup impliesmore market power for firms, and therefore less production, since firms will use theirmarket power to increase the price of goods by reducing supply. Less production impliesless demand for labor, so the natural rate rises.第七章所有市场集中：AS-AD曲线pl60a.True.b.True. In the AS relation, if P=P e/Y=Y n. Note that P e must be known to graph the AS curve.c.False. The AD curve slopes down because an increase in P leads to a fall in M/P, so thenominal interest rate increases, and / and Y fall.d.False. There are changes in autonomous expenditure and supply shocks, both of whichcause output to deviate from the natural level in the short run.e.True.f.False. Fiscal policy affects the interest rate in the medium run and therefore affectsinvestment.g.False. The natural level of output changes in response to a permanent supply shock(other than a change in P3). The price level changes in the medium run in response toeither a demand or a supply shock.第4题a.Money is neutral in the sense that the nominal money supply has no effect onoutput or the interest rate in the medium run. Output returns to its natural level.The interest rate is determined by the position of the IS curve and the natural levelof output. Despite the neutrality of money in the medium run, an increase in themoney supply will increase output and reduce the interest rate in the short run.Therefore, expansionary monetary policy can be used to speed up the economy'sreturn to the natural level of output when output is low.b.In the medium run, fiscal policy affects the interest rate and investment, so fiscal policy is not considered neutral.c.False. Labor market policies, such as the degree of unemployment insurance, can affect thenatural level of output.a.SR:short runMR: medium runb-c.C I Private SSR falls ambiguous ambiguousMR Increasesfrom SR butstill lowerthanoriginallevel rises (aboveoriginallevel)rises (aboveoriginal level)In the medium run, consumption must lower than its original level because disposableincome is unchanged, but consumer confidence is lower.The short-run change in investment is ambiguous, because the interest rate falls,whichtends to increase investment, but output also falls, which tends to reduceinvestment. Inthe medium run, investment must rise (as compared to its short-run and originallevels),because the interest rate falls but output returns to its original level.Since the budget deficit does not change in this problem, the change in privatesaving equals the change in investment. It is possible that private saving will fall inthe short run, but private saving must rise (above its short-run and original levels) inthe medium run.第八章菲利普斯曲线、自然失业率和通货膨胀P182第1题a.True.b.False.c.False.d.True.e.False.f.True.g.Falseh.Falsei.Truej.True第 4 题.The neutrality of money revisitedc.5% per yeard.0% per yeare.Output growth is zero (the economy is at a constant natural level of output).第九章次贷危机（略）第十章增长的事实第1题，快速测试a.True.b.False.c.Uncertain 一earlier evidence suggested this was false but more recent evidencesuggests it may be true.d.False.e.True.f.False.g.True.第3题a.r=63b./doubles.c.Yes.d.Y/N=(K/N)也e.K/N=4 implies Y/N=2. K/N=8 implies Y/N=2.83. Output less than doubles.f.No.g.No. In part (f), we are essentially looking at what happens to output when we increasecapital only, not capital and labor in equal proportion. There are decreasing returns tocapital.h.Yes.第十一章储蓄、资本积累和产出P248第1题，快速测试a.True, in a closed economy, and if saving includes public and private saving.b.False.c.True. In the model without depreciation, there is no steady state. A constant savingrate produces a positive but declining rate of growth. In the infinite-time limit, thegrowth rate equals zero. Output per worker rises forever without bound. In themodel with depreciation, if the economy begins with a level of capital per workerbelow the steady-state level, a constant saving rate also produces a positive butdeclining rate of growth, with a limit of zero. In this case, however, output perworker approaches a fixed number, defined by the steady-state condition of theSolow model. Note that depreciation is not needed to define a steady state if themodel includes labor force growth or technological progress.d.Uncertain. See the discussion of the golden-rule saving rate.e.Uncertain/False. It is likely that the U.S. rate is below the golden rule rate and thattransforming Social Security to a pay-as-you-go system would ultimately increase theU.S. saving rate. These premises imply that such a transformation would increase U.S.consumption in the future, but not necessarily in the present. Indeed, if the onlyeffect of such a transformation is to increase the saving rate, we know thatconsumption per worker will fall in the short run. Moreover; moving to a pay-as-you-go system requires transition costs. If these costs are borrowed, then the reductionin public saving will offset the increase in private saving during the transition. If thesecosts are not borrowed, then transitional generations must suffer either a reductionin promised benefits or an increase in taxes to finance their own retirement inaddition to the retirement of a previous generation. Thus, whether the U.S. "should"move to a pay-as-you-go system depends on the likely resolution ofintergenerational distributional issues and your view about the equity of such aresolution.f.Uncertain. The U.S. capital stock is below the golden rule, but that does not necessarily imply that there should be tax breaks for saving. Even if the tax breaks were effective in stimulating saving, the increase in future consumption would come at the cost of current consumption.g False. Even if you accept the premise that educational investment increases output, it doesnot necessarily follow that countries should increase educational saving, since futureincreases in output will come at the expense of current consumption. Of course,there are other arguments for subsidizing education, particularly for low-incomehouseholds.第9题b.K/N = (0.15/.075)2 = 4y/N= (4 严=2c.K/N=(0.M)・075)2 =7.11y/N=(7.11 严=2.67Capital per worker and output per worker increase.第十二章技术进步与增长P266第1题，快速测试a.True.b.True.c.False. In steady state, there is no growth of output per effective worker.d.True.e.False. The steady-state rate of growth of output per effective worker is zero. A highersaving rate leads to higher steady-state level of capital per effective worker, but hasno effect on the steady-state rate of growth of output per effective worker.f.True.g.False.h.False/Uncertain. Even pessimists about technological progress typically argue that therate of progress will decline, not that it will be zero. Strictly, however, the truth ofthis statement is uncertain, because we cannot predict the future.i.False, rapid growth in China has been due to both increases in technology and increases incapital.a.i. K/(AN) = (s/(8+g.+g/v))2 = 1ii.Y/(AN)“K/AN)Jiii.g伽N)=0iv.g Y/N= g*%v.g产g/gN=6%b.i. K/(AN) = (s/(8+g A+g N))2 = 0.64ii.Y/(AN)“K/AN)W=0.8iii.g伽N)=0iv.g Y/N= g.=8%v.g产g/g/lO%An increase in the rate of technological progress reduces the steady-state levels of capital and output per effective worker, but increases the rate of growth of output per worker.c.i. K/SN) = (s/0+gA+gN))2=O.64ii.Y/(AN)“K/AN)也=0.8iii.g伽N)=0iv.g Y/N= g*%v.g户gn+gg 10%People are better off in case a. Given any set of initial values, the level of technologyis the same in cases (a) and (c), but the level of capital per effective worker is higherat every point in time in case (a). Thus, since Y/N=AY/(AN)=A(K/(AN))V2=A}/z(K/N)V2,output per worker is always higher in case (a)-a.Probably affects A. Think of climate.b.Affects H and possibly A, if better education improves the fertility of research.c.Affects A. Strong protection tends to encourage more R&D but also to limit diffusionof technology.d.May affect A through diffusion.e.May affect K, H, and A. Lower tax rates increase the after-tax return on investment,and thus tend to lead to more accumulation of K and H and to more R&D spending.f.If we interpret K as private capital, then infrastructure affects A (e.g., bettertransportation networks may make the economy more productive by reducingcongestion time).g.Assuming no technological progress, a reduction in population growth implies anincrease in the steady-state level of output per worker. A reduction in populationgrowth leads to an increase in capital per worker. If there is technological progress,there is no steady-state level of output per worker. In this case, however, a reductionin population growth implies that output per worker will be higher at every point intime, for any given path of technology. See the answer to problem 6(c).第十三章技术进步、短期和长期p288第1题a.False. Productivity growth is unrelated to the natural rate of unemployment. If theunemployment rate is constant, employment grows at same rate as the labor force.b.False.c.True.d.True.e.True.f.True.g.False.h.False第3题An increase in labor productivity has no effect on the natural rate of unemployment, because the wage ultimately rises to capture the added productivity. The increase in the wage also implies that an increase in labor productivity has no permanent effect on inflation. From the price setting equation,P=(l+ rr\)W/A. If the wage (W) increases by the same proportion as productivity (A), the price level will not change.。
宏观经济学第二版习题答案
第二章习题集答案本章习题二、BBCAB1.B。
最终产品是指最终供人们使用或消费而不是为了转卖或为进一步加工所购买的商品和服务。
2.B．GDP是包括折旧的，所以其中的投资表示的是总投资而非净投资。
3.C．4.A．净投资=总投资—折旧。
5.B．第六年的名义GDP=第六年的价格×第六年的产量=2第一年的价格×1.4第一年的产量=2.8第一年的名义GDP=2.8×500=1400.三、判断题TTTTF1．农民生产并用于自己消费的粮食不应计入GNP。
（）2．在进行国民收入核算时，政府为公务人员加薪，应视为政府购买。
（）3．用收入法计算的GNP中包括折旧，但折旧不属于要素收入。
（）4．房主把房屋出租所获得的租金和自己居住所形成的虚拟租金均应计入GNP。
（）5．按百分比计算，如果名义GDP上升幅度超过价格上升的幅度，则实际GDP下降。
（）1.T。
GDP一般仅指市场活动所导致的价值。
农民生产并用于自己消费的粮食并未通过市场来销售，所以不应记入GDP. 2.T．3.T．4.T．自己房屋以虚拟租金记入GDP主要考虑的是机会成本的问题。
5.F．名义GDP上升的幅度超过价格上升的幅度，实际GDP应该是上升的。
四、简答题1．简述国内生产总值、国内生产净值、国民收入、个人收入、个人可支配收入之间的关系。
国内生产总值GDP是指一个国家在一定时期内所生产的最终产品和劳务的市场价值总额，是一个地域的概念；国内生产净值NDP是指国内生产总值扣除折旧后的余额，即NDP=GDP—折旧；而国民收入NI是指一国生产要素所有者在一定时期内从生产中所获得的全部收入，狭义NI=NDP—间接税。
个人收入PI，是指经过收入再分配后的国民收入，PI=NI-公司留存利润-公司所得税+政府对个人的转移支付；而个人可支配收入DPI是指个人收入扣除个人所得税之后的余额，即DPI=PI-个人所得税2．简述国民生产总值和国内生产总值的区别。
布兰查德《宏观经济学》课后习题及详解(预期、消费和投资)【圣才出品】
第16章预期、消费和投资一、概念题1．平行数据集（panel data sets）答：平行数据集又称“面板数据集”，是一个包含很多个人或很多公司的一个或多个变量值的时序数据集，即不同实体在不同时期被观测的数据集合，可以用于分析各样本在时间序列上组成的数据的特征。
平行数据集能够综合利用样本信息，通过模型中的参数既可以分析个体之间的差异情况，又可以描述个体的动态变化特征。
其优点在于：①消除个别变异；②更多的信息，更多的自由度，更有效的估计，更少的共线性；③可以描述实体的动态变化，正确理解变量之间的关系；④可以估计某些难以度量的因素对被解释变量的影响，可以研究更加复杂的行为；⑤样本增加，估计值更加趋近于真实值。
缺点在于：①数据的设计和收集存在一定问题；②误差失真等。
2．消费的持久收入理论（permanent income theory of consumption）答：消费的持久收入理论又称“消费的持久收入假说”，是美国经济学家M·弗里德曼提出的一种消费函数理论。
弗里德曼认为，人们的收入可以分为两部分：一部分是暂时性收入，即那些偶然性的、未预期到的临时性收入；另一部分是持久性收入，指消费者在较长时期可以维持的稳定收入水平。
人们在计划自己的消费水平时，不是依据短期的实际收入，而是把消费和长期的持久收入联系起来。
短期的可支配收入由于受许多偶然因素的影响，是一个经常变动的量，人们的消费不会随它的波动而经常变动。
消费者为了实现其效用最大化，实际上是根据他们在长期中能够保持的收入水平来进行消费的。
暂时性的短期收入变动只有在能够影响持久收入水平预期时，才能影响消费水平。
因此，消费是持久收入的函数。
持久收入是消费者一生中的稳定收入，这种稳定收入可以理解为消费者一生收入总和的某种平均数。
消费者在其生命终结之前无法准确知道其持久收入，持久收入也无法直接观测到。
因此，消费者只能根据某种方法，利用可得到的信息，对其持久收入进行估计。
宏观经济学第二版课后习题参考答案
宏观经济学课后习题参考答案第22章一、a.属于微观经济学，因为反映的是个人和单个企业的行为。
b.属于宏观经济学，因为其反映的是一个国家经济变化对社会总体的影响。
c.属于微观经济学，因为反映的是霜冻对单个市场的影响。
d.属于微观经济学，因为反映的是单个企业工会对工资的影响。
e.属于宏观经济学，因为反映的是汇率变动对整个国家出口的影响。
f.属于宏观经济学，因为反映的是国家两个整体衡量指标之间的关系。
二、答：这是一个关于节俭悖论的问题。
对于个人来说，当储蓄增加，个人的财富就会增多，这将会为将来的消费提供更高的水平，所以个人能在未来有更多的消费；而对于整个国家的经济来讲，当每个人增加储蓄的时候，就会导致国家的整体消费支出水平下降，从而使得企业不得不因为投资的减少而裁剪员工，最终导致个人收入进一步下降，消费者降低当前消费。
三、a.不一致。
凯恩斯在其《通论》中主张政府应该使用财政政策和货币政策等干预措施来解决经济低迷。
b.大萧条这场巨大的灾难推翻了经济学家之前认为经济可以自我管理的观念，由凯恩斯提出了政府应该对经济进行干预管理的观念。
c.2001年政策制定着使用了财政政策和货币政策共同作用去刺激经济，使经济尽快走出低迷。
如果他们想大萧条时的政策制定者一样对经济放任其自我管理和调节的话，这张衰退势必会持续更长的时间，经济也会萎缩的更厉害。
四、答：在美国，拥有独立的专家小组来识别经济衰退，他们通过研究一系列的指标，主要包括就业和生产率等经济指标来确定一个衰退的开始时间和结束时间。
而在其他国家，经济学家采用的规则是在整个经济产出中至少有连续两个季度的明显萎缩即为经济衰退。
五、略（自己根据自己当时的时间查询和比较）六、A.两国的经济周期具有相似性。
英国大约在1990-1994年处于经济衰退期，而在1994-2002年处于经济扩张期；日本大约在1997年之前都处于扩张期，在1997-2003年处于经济衰退期。
虽然日本的经济周期略滞后于英国，但两国的整体趋势是趋同的。
布兰查德《宏观经济学》课后习题及详解(预期、产出和政策)【圣才出品】
第17章 预期、产出和政策一、概念题1．总私人支出（aggregate private spending ，or private spending ） 答：总私人支出包括消费和投资两部分，表示为：。
总私人支出是收入的递增函数：收入越高，消费和投资越高；它是税收的递减函数：高税收使得消费下降；它是实际利率的递减函数：高实际利率使得投资下降。
2．动物精神（animal spirits ）答：动物精神又称为“血气冲动”、“本能冲动”、“动物本能”、“创业冲动”，是指用来说明企业家作出投资决策时的心理状态，以及这种心理状态对投资的影响。
凯恩斯认为，企业家是否进行一项投资，并不是十分理性地进行冷静周密的计算后作出决定，而是一时“动物本能”的结果。
因此，投资是一种动物本能影响的活动。
私人投资不仅取决于企业家对未来投资收益的估算，而且还受到企业家一时一地的心理状态和情绪的影响。
以后，英国经济学家J.罗宾逊在分析投资问题时，也运用了动物本能这一概念。
3．适应性预期（adaptive expectations ）答：适应性预期是一种预期形成理论，指对某一经济变量，不仅依据其现期的实际值，而且依据其现期实际值与在上一期对其做出的本期的估计值之间的误差，进行相应调整，得()()(),,,A Y T r C Y T I Y r ≡-+Y T r出对其未来估计值的预期。
适应性预期产生于20世纪50年代，是由菲利普·卡甘在一篇讨论恶性通货膨胀的文章中提出来的，很快在宏观经济学中得到广泛的应用。
适应性预期假定经济人根据以前的预期误差来修正以后的预期。
适应性预期模型的要点是预期变量依赖于该变量的历史信息。
某个时期的适应性预期价格等于上一时期预期的价格加上常数与上期价格误差（上个时期实际价格与预期价格之差）之和。
即预期价格是过去所有实际价格的加权平均数，权数是常数的函数。
适应性预期在物价较为稳定的时期能较好地反映经济现实。
布兰查德《宏观经济学》章节课后习题详解(财政政策：一个总结)【圣才出品】
第23章财政政策：一个总结一、概念题1．通货膨胀调整的赤字（inflation-adjusted deficit）答：赤字的正确度量结果有时称作经通货膨胀调整的赤字，是指用实际利息支付度量利息支付——实际利率乘以现有负债，而非事实上的利息支付——名义利率乘以现有负债。
官方用事实上的（名义）利息支付来度量赤字，是不正确的。
当通货膨胀很高时，官方的度量有很大的误导性。
2．周期调整的赤字（cyclically adjusted deficit）答：周期调整的赤字又称充分就业赤字、中周期赤字、标准就业赤字、结构性赤字，是指在现有的税收和支出规则下，如果产出处于自然率水平，赤字应该是多少。
这一方法提供了可以判断财政政策方向的简单基准：如果实际赤字很大，但周期调整的赤字等于零，那么随着时间的推移，当前的财政政策不会导致债务的系统性增加。
只要产出低于自然率水平，债务就会增加。
但是随着产出增加到自然率水平，赤字将会消失，债务将稳定。
3．政府预算约束（government budget constraint）答：政府预算约束可以简单表述为，第t年内政府债务的变化等于第t年的赤字。
B t－B t－1＝赤字t。
上式中，B表示政府债务。
如果政府处于赤字状态，政府债务增加；如果政府处于盈余状态，政府债务减少。
4．自动稳定器（automatic stabilizer）答：自动稳定器指经济活动对赤字的影响，衰退自然导致赤字增加，而赤字增加本身有发挥财政扩张的作用，这将会部分地抵消衰退。
一些财政支出和税收制度就具有某种自动调整经济的灵活性，可以自动配合需求管理，减缓总需求的波动性，从而有助于经济的稳定。
在社会经济生活中，通常具有内在稳定器作用的因素主要包括：个人和公司所得税、失业补助和其他福利转移支付、农产品维持价格以及公司储蓄和家庭储蓄等。
例如，在萧条时期，个人收入和公司利润减少，政府所得税收入自动减少，从而相应增加了消费和投资。
宏观经济学布兰查德后作业答案
分别为0.09、0.09
c.第1年到第2年、第2年到第3年、第3年到第4年之间，通货 膨胀率是多少？
根据公式：π=(Pt-Pt-1)/Pt-1 第1年到第2年：π=（100-95.2）/95.2=0.05
e.计算中期的失业率和通货膨胀率。
中期，失业率回到自然失业率5%，产出等于正常 增长率3%，通货膨胀等于调整的名义货币增长 率3%-3%=0。
f.“通货膨胀总是一个货币现象”是对中期还是短 期的描述。
在中期内，失业率等于自然失业率，产出以正常 增长率增长。名义货币增长决定通货膨胀率：名 义货币增长1%导致通货膨胀增加1%。
c.你相信问题（b）中的答案吗？为什么？（提示： 考虑人们如何形成通货膨胀预期。）
不相信。因为（b）中的前提是π et= 0，而πt永远 等于4%，意味着人们未来的预期通胀都为零，仅 仅用过去的通胀水平表示未来的通胀水平而不加 任何修正，而且这样通胀预期将会永远维持下去 。但是因为预期通货膨胀率是由通货膨胀率决定 的，所以正的π t不可能永远只产生等于零的π et。 事实上，人们不可能犯这样的系统性错误，因而 （b）中的答案是不可能的。
t+2
-0.7%
8.8%
t+3
-3.2%
7.5%
t+4
-4.1%
5.9%
t+5
-3.5%
4.4%
t+6
-3.1%
3.6%
t+7
-0.5%
3.4%
t+8
宏观经济学英文版课后题答案
第八篇宏观经济学的数据第二十二章一国收入的衡量复习题1．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．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．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． 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)。
国内企业卖给另一个国家的买者，如波音公司卖给中国航空公司飞机，增加了净出口。
6．经济学家计算GDP 的目的就是要衡量整个经济运行状况如何。
由于实际GDP 衡量经济中物品与劳务的生产，所以，它反映了经济满足人们需要与欲望的能力。
这样，实际GDP 是比名义GDP 衡量经济福利更好的指标。
7． 2001 年的名义GDP 等于200 美元，实际GDP 也等于200 美元， GDP 平减指数是100。
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Equating output for some time t in
8*(1.03) =(.84*1.09)*(1.09)
t
8/(.84*1.09)=(1.09/1.03)
t
8.737=(1.058) t =ln(8.737)/ln(1.058) ≈38yrs b. From Chapter 1: US output/worker in 1997=$29,800; China output/per worker in 1996=$700
t t
t
t
29.8*(1.03) =(.7*1.09)*(1.09) t≈65 years
Chapter 2
1. a. False. b. Uncertain: real or nominal GDP. c. True. d. True. e. False. The level of the CPI means nothing. Its rate of change tells us about inflation. f. Uncertain. Which index is better depends on what we are trying to measure—inflation faced by consumers or by the economy as a whole. 2. a. +$100; Personal Consumption Expenditures b. no change: intermediate good c. +$200 million; Gross Private Domestic Fixed Investment d. +$200 million; Net Exports e. no change: the jet was already counted when it was produced, i.e., presumably when Delta (or some other airline) bought it new as an investment. *3. a. Measured GDP increases by $10+$12=$22. b. True GDP should increase by much less than $22 because by working for an extra hour, you are no longer producing the work of cooking within the house. Since cooking within the house is a final service, it should count as part of GDP. Unfortunately, it is hard to measure the value of work within the home, which is why measured GDP does not include it. 4. a. $1,000,000 the value of the silver necklaces. b. 1st Stage: $300,000. 2nd Stage: $1,000,00-$300,000=$700,000. GDP: $300,000+$700,000=$1,000,000. c. Wages: $200,000 + $250,000=$450,000. Profits: ($300,000-$200,000)+($1,000,000-$250,000-300,000) =$100,000+$450,000=$550,000. GDP: $450,000+$550,000=$1,000,000. 5. a. 1998 GDP: 10*$2,000+4*$1,000+1000*$1=$25,000
Answers to End-of-Chapter Questions and Problems
Chapter 1
1. a. True. b. True. c. False. d. True. e. False. f. False. 2. a. US EU Japan 1960-98 ---------3.1% 3.1% 5.8% 1997-99 --------3.8% 2.5% -1.0%
1999 GDP: 12*$3,000+6*$500+1000*$1=$40,000 Nominal GDP has increased by 60%. b. 1998 real (1998) GDP: $25,000 1999 real (1998) GDP: 12*$2,000+6*$1,000+1000*$1=$31,000 Real (1998) GDP has increased by 24%. c. 1998 real (1999) GDP: 10*$3,000+4*$500+1,000*$1=$33,000 1999 real (1999) GDP: $40,000. Real (1999) GDP has increased by 21.2%. d. True.6. a. 1998 base year: Deflator(1998)=1; Deflator(1999)=$40,000/$31,000=1.29 Inflation=29% b. 1999 base year: Deflator(1998)=$25,000/$33,000=0.76; Deflator(1999)=1 Inflation=(1-0.76)/0.76=.32=32% c. Yes 7. a. 1998 real GDP = 10*$2,500 + 4*$750 + 1000*$1 = $29,000 1999 real GDP = 12*$2,500 + 6*$750 + 1000*$1 = $35,500 b. (35,500-29,000)/29,000 = .224 = 22.4% c. Deflator in 1998=$25,000/$29,000=.86 Deflator in 1999=$40,000/$35,500=1.13 Inflation = (1.13 -.86)/.86 = .314 = 31.4%. 8. a. The quality of a routine checkup improves over time. Checkups now may include EKGs, for example. Medical services are particularly affected by this problem due to constant improvements in medical technology. b. You need to know how the market values pregnancy checkups with and without ultra-sounds in that year. c. This information is not available since all doctors adopted the new technology simultaneously. Still, you can tell that the quality adjusted increase will be lower than 20%. *9. a. approximately 2.5% b. 1992 real GDP growth: 2.7%; unemployment rate Jan 92: 7.3%; unemployment rate Jan 93: 7.3% Supports Okun's law because the unemployment rate does not change when the growth rate of real GDP is near 2.5%
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If history simply repeats itself, the United States might have a short recession (lasting perhaps one year) accompanied by an acceleration in the rate of inflation by about one percentage point. 4. a. Banking services, business services. b. Not only has the relative demand for skilled workers increased but the industries where this effect is the strongest are making up a greater fraction of the economy. 5. 1. Low unemployment might lead to an increase in inflation. 2. Although measurement error certainly contributes to the measured slowdown in growth, there are other issues to consider as well, including the productivity of new research and accumulation of new capital. 3. Although labor market rigidities may be important, it is also important to consider that these rigidities may not be excessive, and that high unemployment may arise from flawed macroeconomic policies. 4. Although there were serious problems with regard to the management of Asian financial systems, it is important to consider the possibility that the flight of foreign capital from these countries worsened the situation by causing a severe stock market crash and exchange rate depreciation. 5. Although the Euro will remove obstacles to free trade between European countries, each country will be forced to give up its own monetary policy. * 6. a. From Chapter 1: US output 1997=$8b; China output 1996=$.84b. Note that China’s output in 1997 is $(.84)*(1.09) b. the future: