曼昆经济学基础_课后答案(2)
矿产资源开发利用方案编写内容要求及审查大纲
矿产资源开发利用方案编写内容要求及《矿产资源开发利用方案》审查大纲一、概述
㈠矿区位置、隶属关系和企业性质。
如为改扩建矿山, 应说明矿山现状、
特点及存在的主要问题。
㈡编制依据
(1简述项目前期工作进展情况及与有关方面对项目的意向性协议情况。
(2 列出开发利用方案编制所依据的主要基础性资料的名称。
如经储量管理部门认定的矿区地质勘探报告、选矿试验报告、加工利用试验报告、工程地质初评资料、矿区水文资料和供水资料等。
对改、扩建矿山应有生产实际资料, 如矿山总平面现状图、矿床开拓系统图、采场现状图和主要采选设备清单等。
二、矿产品需求现状和预测
㈠该矿产在国内需求情况和市场供应情况
1、矿产品现状及加工利用趋向。
2、国内近、远期的需求量及主要销向预测。
㈡产品价格分析
1、国内矿产品价格现状。
2、矿产品价格稳定性及变化趋势。
三、矿产资源概况
㈠矿区总体概况
1、矿区总体规划情况。
2、矿区矿产资源概况。
3、该设计与矿区总体开发的关系。
㈡该设计项目的资源概况
1、矿床地质及构造特征。
2、矿床开采技术条件及水文地质条件。
经济学基础曼昆课后习题答案之欧阳美创编
第一章经济学十年夜原理一、二、为每个关键术语选择一个界说关键术语界说稀缺性 1、在社会成员中平等地分派利益的特征经济学 2、市场不克不及有效的配置资源的状况效率 3、有限的资源和无限的欲望平等 4、一个工人一小时所生产的物品与劳务量理性 5、市场上只有一个买者的情况机会本钱 6、利己的市场介入者可以不知不觉的使整体社会福利最年夜化的原理边沿变动 7、社会从其稀缺资源中获得最多工具的特性激励 8、社会和企业在市场上的相互交易决定资源配置的经济市场经济 9、经济活动的摆荡产权 10、当一个人的行为对旁观者有影响时的情况“看不见的手” 11、物价总水平的上升市场失灵 12、对现行计划的增量调整外部性 13、研究社会如何管理其稀缺资源市场势力 14、获得某种工具所保持的工具垄断 15、一个人或一群人不适当的影响市场价格的能力生产率 16、某种引起人行动的工具通货膨胀 17、一个人拥有并使用稀缺资源的能力经济周期 18、为了达到目标而尽可能系统性的做到最好三、判断正误1、当政府用税收和福利再分派收入时，经济变得更有效率。
2、当经济学家说“天下没有免费的午餐”时，他们是指所有经济决策都涉及权衡取舍。
3、亚当斯密的“看不见的手”的概念描述了公司经营如何像一只“看不见的手”伸到消费者的钱包中。
4、只有当一种行为的边沿利益年夜于边沿本钱时，理性人才行动。
5、如果我们取消了与亚洲国家的贸易，美国在经济上就会获益，因为我们将自愿生产更多的、我们自己的汽车和衣服。
6、当一家喷气式飞机从头上飞过时，噪音引起了外部性。
7、酒类的税收提高了酒的价格，并提供了消费者对喝酒的激励。
8、公共财务支持高等教育的意外结果是降低了学费，为许多原本不想再学习的人提供了上州立年夜学的激励。
9、Sue更擅长清扫卫生，Bob更擅长做饭。
如果Bob专门做饭而Sue专门担任清扫卫生，这将比他们平等地分摊家务所需要的时间少。
10、高而耐久的通货膨胀是由经济中货币量的过度增长引起的。
曼昆微观经济学第二章课后答案
第二章像经济学家一样思考复习题1．经济学如何像一门科学?答：经济学家努力以科学家的客观态度来探讨经济问题。
用科学的方法提出理论、收集资料，并分析这些资料以努力证明或否定他们提出的理论来研究社会。
经济学家研究经济的过程和方法与自然科学的科学家研究自然是一样的。
所以说经济学也是一门科学。
2．为什么经济学家要做出假设?答：假设可以使解释这个世界更为容易。
对不同的问题作出不同的假设，略去对问题的答案没有实质影响的因素，突出实质性的内容，使我们可以集中进行思考。
3．经济模型应该准确地描述现实吗?答：经济模型不需要准确地描述现实。
所有的模型都是建立在假设的基础上的，它们忽略掉了大量不会对研究结果有实质性影响的细节，向我们说明什么是真正重要的。
模型是为了增进我们对现实的理解而简化了现实。
4．说出你的家庭参与要素市场的一种方式，以及参与产品市场的一种方式。
答：略。
5．举出一种没有包括在简单的循环流量图中的经济关系。
答：略。
6．画出并解释一个生产牛奶与点心的经济的生产可能性边界。
如果一场瘟疫使该经济中的一半奶牛死亡，这条生产可能性边界会发生怎样的变动?答：假设在正常情况下，将可能得到的所有资源用于生产点心，可以生产300 千克，如果全用于生产牛奶，可以生产1 000 升。
L1 表示正常情况下该经济的生产可能性边界。
如果一场疾病造成该经济一半的奶牛死亡，生产可能性边界会向内移，即L2 线。
因为在生产率不变的情况下，可用于生产点心和牛奶的经济资源减少了。
5图2—1 生产可能性边界7．用生产可能性边界描述“效率”的思想。
答：如果经济可以利用它所得到的全部稀缺资源，就可以说这种结果是有效率的。
宏观经济学曼昆第十版课后答案
宏观经济学曼昆第十版课后答案篇一：一、题目（一）经济学基础概念章节（较易）1. 国内生产总值（GDP）被定义为一个经济体在某一给定时期内所生产的所有最终物品与服务的市场价值。
请解释为什么二手物品的销售不包括在GDP的计算中。
2. 在国民收入核算恒等式Y = C + I + G + NX中，假设一个国家的净出口（NX）为负数，这意味着什么？请举例说明这种情况在现实世界中的可能成因。
（二）总需求与总供给章节（中等难度）1. 假设经济初始处于长期均衡状态。
如果政府突然大幅增加支出，运用总需求总供给模型（AD AS模型）分析短期内物价水平、产出水平会发生怎样的变化？长期内又会如何调整回长期均衡？2. 画出并解释短期总供给曲线（SRAS）向上倾斜的三种理论。
（三）货币政策章节（较难）1. 假设中央银行决定通过公开市场操作来降低利率。
请详细描述公开市场操作的过程以及这一操作对货币供应量、投资、总需求和产出的影响路径（使用货币市场和总需求总供给模型进行分析）。
2. 在一个小型开放经济中，货币政策与在封闭经济中有何不同？如果这个小型开放经济实行固定汇率制度，货币政策的有效性又会受到怎样的影响？请详细阐述并结合图形进行分析。
二、答案（一）1. 二手物品的销售不包括在GDP计算中的原因：GDP衡量的是一个经济体在特定时期内的生产价值。
二手物品在其初次生产和销售时已经计入了GDP，再次销售二手物品只是物品所有权的转移，并没有创造新的生产价值。
例如，一辆二手车的首次销售是新车生产环节的一部分，已经计入当年的GDP。
当这辆车再次被转卖时，没有新的汽车生产活动发生，所以不能再次计入GDP。
2. 当净出口（NX）为负数时，意味着该国的进口大于出口。
在现实世界中，可能的成因有很多。
例如，一个国家可能对国外的高端技术产品或石油等资源有大量需求，而本国的产品在国际市场上缺乏竞争力。
像日本，它需要大量进口石油，尽管它也出口汽车等产品，但如果在某一时期石油进口量大幅增加或者汽车出口受阻，就可能导致净出口为负。
经济学基础-曼昆-课后习题答案
经济学基础-曼昆-课后习题答案第⼀章）济学⼗⼤原理第⼆章经⼀、为每个关键术语选择⼀个定义关键术语定义--------------稀缺性 1、在社会成员中平等地分配利益的特征--------------经济学 2、市场不能有效的配置资源的状况--------------效率 3、有限的资源和⽆限的欲望--------------平等 4、⼀个⼯⼈⼀⼩时所⽣产的物品与劳务量--------------理性 5、市场上只有⼀个买者的情况《--------------机会成本 6、利⼰的市场参与者可以不知不觉的使整体社会福利最⼤化的原理--------------边际变动 7、社会从其稀缺资源中得到最多东西的特性--------------激励 8、社会和企业在市场上的相互交易决定资源配置的经济--------------市场经济 9、经济活动的波动--------------产权 10、当⼀个⼈的⾏为对旁观者有影响时的情况--------------“看不见的⼿” 11、物价总⽔平的上升!--------------市场失灵 12、对现⾏计划的增量调整--------------外部性 13、研究社会如何管理其稀缺资源--------------市场势⼒ 14、得到某种东西所放弃的东西--------------垄断 15、⼀个⼈或⼀群⼈不适当的影响市场价格的能⼒--------------⽣产率 16、某种引起⼈⾏动的东西--------------通货膨胀 17、⼀个⼈拥有并使⽤稀缺资源的能⼒--------------经济周期 18、为了达到⽬标⽽尽可能系统性的做到最好⼆、判断正误）--------------1、当政府⽤税收和福利再分配收⼊时，经济变得更有效率。
-------------2、当经济学家说“天下没有免费的午餐”时，他们是指所有经济决策都涉及权衡取舍。
-------------3、亚当斯密的“看不见的⼿”的概念描述了公司经营如何像⼀只“看不见的⼿”伸到消费者的钱包中。
经济学基础曼昆课后习题答案之欧阳化创编
第一章经济学十年夜原理二、为每个关键术语选择一个界说关键术语界说稀缺性1、在社会成员中平等地分派利益的特征经济学2、市场不克不及有效的配置资源的状况效率3、有限的资源和无限的欲望平等4、一个工人一小时所生产的物品与劳务量理性5、市场上只有一个买者的情况机会本钱6、利己的市场介入者可以不知不觉的使整体社会福利最年夜化的原理边沿变动7、社会从其稀缺资源中获得最多工具的特性激励8、社会和企业在市场上的相互交易决定资源配置的经济市场经济9、经济活动的摆荡产权10、当一个人的行为对旁观者有影响时的情况“看不见的手” 11、物价总水平的上升市场失灵12、对现行计划的增量调整外部性13、研究社会如何管理其稀缺资源市场势力14、获得某种工具所保持的工具垄断15、一个人或一群人不适当的影响市场价格的能力生产率16、某种引起人行动的工具通货膨胀17、一个人拥有并使用稀缺资源的能力经济周期18、为了达到目标而尽可能系统性的做到最好三、判断正误1、当政府用税收和福利再分派收入时，经济变得更有效率。
2、当经济学家说“天下没有免费的午餐”时，他们是指所有经济决策都涉及权衡取舍。
3、亚当斯密的“看不见的手”的概念描述了公司经营如何像一只“看不见的手”伸到消费者的钱包中。
4、只有当一种行为的边沿利益年夜于边沿本钱时，理性人才行动。
5、如果我们取消了与亚洲国家的贸易，美国在经济上就会获益，因为我们将自愿生产更多的、我们自己的汽车和衣服。
6、当一家喷气式飞机从头上飞过时，噪音引起了外部性。
7、酒类的税收提高了酒的价格，并提供了消费者对喝酒的激励。
8、公共财务支持高等教育的意外结果是降低了学费，为许多原本不想再学习的人提供了上州立年夜学的激励。
9、Sue更擅长清扫卫生，Bob更擅长做饭。
如果Bob专门做饭而Sue专门担任清扫卫生，这将比他们平等地分摊家务所需要的时间少。
10、高而耐久的通货膨胀是由经济中货币量的过度增长引起的。
11、在短时间中，降低通货膨胀往往会引起失业的减少。
曼昆经济学原理（第四版）课后习题中文答案（2）
曼昆经济学原理（第四版）课后习题中文答案（2）产大量物品与劳务，才能使本国居民享有在国际贸易环境下的高生活水平。
2．假定社会决定减少消费并增加投资。
A．这种变化会如何影响经济增长?答：当社会决定减少消费并增加投资时，会使社会的储蓄增加，更多的资源用于生产资本品，结果，资本存量增加，引起生产率提高和GDP 增长得更为迅速。
B．哪些社会群体会从这种变化中获益?哪些集团会受到损害?答：拥有资本品的人会从这种变化中获益，如拥有较多的物质资本和人力资本的人。
而那些依靠政府援助的人将从这种变化中受损，因为社会减少了现期物品与劳务的消费。
3．社会选择把多少资源用于消费和把多少资源用于投资。
这些决策中的一部分涉及私人支出；另一些涉及政府支出。
A．说明代表消费的一些私人支出形式，以及代表投资的一些私人支出形式。
国民收入账户把学费作为消费支出的一部分。
按你的看法，把资源用于教育是一种消费的形式，还是一种投资的形式。
答：如家庭购买食物和服装是消费的私人支出形式，而个人购买新住房、企业对厂房和设备的投资是代表投资的私人支出形式。
资源用于教育即可以看作是一种消费的形式，也可以看作是一种投资的形式。
B．说明代表消费的一些政府支出形式，以及代表投资的一些政府支出形式。
按你的看法，我们应该把政府用于医疗计划的支出作为一种消费的形式，还是投资的形式？你能区分青年人的医疗计划和老年人的医疗计划吗？答：社会保险、国防和退伍军人津贴等是代表消费的一些政府支出形式，政府修筑铁路、核电站是代表投资的一些政府支出形式。
政府用于医疗计划的支出是一种对人力资本的投资。
与老年人的医疗计划相比，青年人的医疗计划更接近对人力资本的投资。
4．投资于资本的机会成本是什么？你认为一国有可能对资本“过度投资”吗？人力资本投资的机会成本是什么？你认为一国可能对人力资本“过度投资”吗？解释之。
答：投资于资本的机会成本是牺牲现期的物品和劳务的消费。
一国有可能对资本“过度投资”。
曼昆经济学基础第七版课后题答案
曼昆经济学基础第七版课后题答案1. 超额利润是对企业家才能这种特殊生产要素所付的报酬。
（） [判断题]对错(正确答案)2. 规模过大，也可能出现规模不经济，因此，企业应追求适度规模。
（） [判断题] 对(正确答案)错3. 基尼系数越大表示收入分配越平均。
（） [判断题]对错(正确答案)4. 在完全竞争市场上，只要存在超额利润，就会有竞争者进入这个市场。
（）[判断题]对(正确答案)错5. 小明开了一家奶茶店里，雇了一个员工，那么支付给这个员工的工资属于隐成本。
（） [判断题]对错(正确答案)6. 在长期中,随着企业扩大其生产设备,它通常先经历规模不经济,然后规模收益不变,最后是规模经济。
（） [判断题]对错(正确答案)7. 完全竞争市场由于其产品无差别，竞争最终导致厂商的超额利润为零。
（） [判断题]对(正确答案)错8. 管仲提出“仓廪实而知礼节,衣食足而知荣辱”,揭示了人在满足了低层次的生理需求后,才会追求高层次的精神层面的需求。
（） [判断题]对(正确答案)错9. 边际效用开始递减，总效用也开始递减。
（） [判断题]对错(正确答案)10. 在经营中，短期内如果收益小于总成本，但大于变动成本，可考虑继续经营。
（） [判断题]对(正确答案)错11. 一个长期患病失去工作能力的人属于失业者。
（） [判断题]对错(正确答案)12. 为保护农业生产者的基本利益，政府一般会有采用支持价格来解决由于供给增加导致市场价格过低的问题。
（） [判断题]对(正确答案)错13. 一定程度的失业是不可避免的，因此，失业率不可能降为零。
（） [判断题] 对(正确答案)错14. 当消费者的收入发生变化时，会引起需求曲线的移动。
（） [判断题]对(正确答案)错15. 消费者剩余会随着消费量的增加而减少,主要原因是边际效用在递减。
（） [判断题]对(正确答案)错16. 当你选择了上大学，那么上大学的机会成本就是学费以及如果不上大学用于工作的时间带来的价值。
经济学原理 曼昆课后答案 chapter 2
Problems and Applications1. Many answers are possible.2. a. Steel is a fairly uniform commodity, though some firms produce steel ofinferior quality.b. Novels are each unique, so they are quite distinguishable.c. Wheat produced by one farmer is completely indistinguishable from wheatproduced by another.d. Fast food is more distinguishable than steel or wheat, but certainly not asmuch as novels.3. See Figure 2-5; the four transactions are shown.Figure 2-54. a. Figure 2-6 shows a production possibilities frontier between guns and butter.It is bowed out because when most of the economy‟s resources are being usedto produce butter, the frontier is steep and when most of the economy‟sresources are being used to produce guns, the frontier is very flat. When theeconomy is producing a lot of guns, workers and machines best suited tomaking butter are being used to make guns, so each unit of guns given upyields a large increase in the production of butter; thus the productionpossibilities frontier is flat. When the economy is producing a lot of butter,workers and machines best suited to making guns are being used to makebutter, so each unit of guns given up yields a small increase in the productionof butter; thus the production possibilities frontier is steep.b. Point A is impossible for the economy to achieve; it is outside the productionpossibilities frontier. Point B is feasible but inefficient because it‟s inside theproduction possibilities frontier.Figure 2-6c. The Hawks might choose a point like H, with many guns and not much butter.The Doves might choose a point like D, with a lot of butter and few guns.d. If both Hawks and Doves reduced their desired quantity of guns by the sameamount, the Hawks would get a bigger peace dividend because the productionpossibilities frontier is much steeper at point H than at point D. As a result,the reduction of a given number of guns, starting at point H, leads to a muchlarger increase in the quantity of butter produced than when starting at pointD.5. See Figure 2-7. The shape and position of the frontier depend on how costly it is tomaintain a clean environment the productivity of the environmental industry. Gains in environmental productivity, such as the development of a no-emission auto engine, lead to shifts of the production-possibilities frontier, like the shift from PPF1 to PPF2shown in the figure.Figure 2-76. a. A family‟s decision about how much income to save is microeconomics.b. The effect of government regulations on auto emissions is microeconomics.c. The impact of higher saving on economic growth is macroeconomics.d. A firm‟s decision about how many workers to hire is microeconomics.e. The relationship between the inflation rate and changes in the quantity ofmoney is macroeconomics.7. a. The statement that society faces a short-run tradeoff between inflation andunemployment is a positive statement. It deals with how the economy is, nothow it should be. Since economists have examined data and found thatthere‟s a short-run negative relationship between inflation and unemployment,the statement is a fact, thus it‟s a positive statement.b. The statement that a reduction in the rate of growth of money will reduce therate of inflation is a positive statement. Economists have found that moneygrowth and inflation are very closely related. The statement thus tells howthe world is, and so it is a positive statement.c. The statement that the Federal Reserve should reduce the rate of growth ofmoney is a normative statement. It states an opinion about something thatshould be done, not how the world is.d. The statement that society ought to require welfare recipients to look for jobsis a normative statement. It doesn‟t state a fact about how the world is.Instead, it is a statement of how the world should be and is thus a normativestatement.e. The statement that lower tax rates encourage more work and more saving is apositive statement. Economists have studied the relationship between taxrates and work, as well as the relationship between tax rates and saving.They‟ve found a negative relationship in both cases. So the statementreflects how the world is, and is thus a positive statement.8. Two of the statements in Table 2-2 are clearly normative. They are: “5. If thefederal budget is to be balanced, it should be done over the business cycle rather than yearly” and “9. The government should restructure the welfare system along the lines of a …negative income tax.‟” Bot h are suggestions of changes that should be made,rather than statements of fact, so they are clearly normative statements.The other statements in the table are positive. All the statements concern how theworld is, not how the world should be. Note tha t in all cases, even though they‟restatements of fact, fewer than 100 percent of economists agree with them. You could say that positive statements are statements of fact about how the world is, but noteveryone agrees about what the facts are.9. As th e president, you‟d be interested in both the positive and normative views ofeconomists, but you‟d probably be most interested in their positive views. Economists are on your staff to provide their expertise about how the economy works. Theyknow many fa cts about the economy and the interaction of different sectors. So you‟d be most likely to call on them about questions of fact positive analysis. Since you‟re the president, you‟re the one who has the make the normative statements as to what should be done, with an eye to the political consequences. The normative statements made by economists represent their views, not necessarily either your‟s or theelectorate‟s.10. There are many possible answers.11. As of this writing, the chairman of the Federal Reserve is Alan Greenspan, the chair ofthe Council of Economic Advisers is Martin N. Baily, and the secretary of the treasury is Larry Summers.12. There are many possible answers.13. As time goes on, you might expect economists to disagree less about public policybecause they‟ll have opportunities to observe different policies that are put into place. As new policies are tried, their results will become known, and they can be evaluated better. It‟s likely that the disagreement about them will be reduced after they‟ve been tried in practice. For example, many economists thought that wage and price controls would be a good idea for keeping inflation under control, while others thought it was a bad idea. But when the controls were tried in the early 1970s, the results were disastrous. The controls interfered with the invisible hand of the marketplace and shortages developed in many products. As a result, most economists are now convinced that wage and price controls are a bad idea for controlling inflation.But it‟s unlikely that the differences between economists will ever be completely eliminated. Economists differ on too many aspects of how the world works. Plus, even as some policies get tried out and are either accepted or rejected, creative economists keep coming up with new ideas.。
曼昆经济学基础_课后答案
第一篇导言第一章经济学十大原理复习题1�列举三个你在生活中面临的重要权衡取舍的例子。
答�①大学毕业后�面临着是否继续深造的选择�选择继续上学攻读研究生学位�就意味着在今后三年中放弃参加工作、赚工资和积累社会经验的机会�②在学习内容上也面临着很重要的权衡取舍�如果学习《经济学》�就要减少学习英语或其他专业课的时间�③对于不多的生活费的分配同样面临权衡取舍�要多买书�就要减少在吃饭、买衣服等其他方面的开支。
2�看一场电影的机会成本是什么?答�看一场电影的机会成本是在看电影的时间里做其他事情所能获得的最大收益�例如�看书、打零工。
3�水是生活必需的。
一杯水的边际利益是大还是小呢?答�这要看这杯水是在什么样的情况下喝�如果这是一个人五分钟内喝下的第五杯水�那么他的边际利益很小�有可能为负�如果这是一个极度干渴的人喝下的第一杯水�那么他的边际利益将会极大。
4�为什么决策者应该考虑激励?答�因为人们会对激励做出反应。
如果政策改变了激励�它将使人们改变自己的行为�当决策者未能考虑到行为如何由于政策的原因而变化时�他们的政策往往会产生意想不到的效果。
5�为什么各国之间的贸易不像竞赛一样有赢家和输家呢?答�因为贸易使各国可以专门从事自己最擅长的活动�并从中享有更多的各种各样的物品与劳务。
通过贸易使每个国家可供消费的物质财富增加�经济状况变得更好。
因此�各个贸易国之间既是竞争对手�又是经济合作伙伴。
在公平的贸易中是“双赢”或者“多赢”的结果。
6�市场中的那只“看不见的手”在做什么呢?答�市场中那只“看不见的手”就是商品价格�价格反映商品自身的价值和社会成本�市场中的企业和家庭在作出买卖决策时都要关注价格。
因此�他们也会不自觉地考虑自己行为的(社会)收益和成本。
从而�这只“看不见的手”指引着千百万个体决策者在大多数情况下使社会福利趋向最大化。
7�解释市场失灵的两个主要原因�并各举出一个例子。
答�市场失灵的主要原因是外部性和市场势力。
曼昆宏观经济学答案第二章
Answers to Textbook Questions and ProblemsCHAPTER 2 The Data of MacroeconomicsQuestions for Review1. GDP measures the total income earned from the production of the new final goods and services in theeconomy, and it measures the total expenditures on the new final goods and services produced in the economy. GDP can measure two things at once because the total expenditures on the new final goods and services by the buyers must be equal to the income earned by the sellers of the new final goods and services. As the circular flow diagram in the text illustrates, these are alternative, equivalent ways of measuring the flow of dollars in the economy.2. The four components of GDP are consumption, investment, government purchases, and net exports.The consumption category of GDP consists of household expenditures on new final goods and services, such as the purchase of a new television. The investment category of GDP consists of business fixed investment, residential fixed investment, and inventory investment. When a business buys newequipment this counts as investment. Government purchases consists of purchases of new final goods and services by federal, state, and local governments, such as payments for new military equipment.Net exports measures the value of goods and services sold to other countries minus the value of goods and services foreigners sell us. When the U.S. sells corn to foreign countries, it counts in the net export category of GDP.3. The consumer price index (CPI) measures the overall level of prices in the economy. It tells us theprice of a fixed basket of goods relative to the price of the same basket in the base year. The GDPdeflator is the ratio of nominal GDP to real GDP in a given year. The GDP deflator measures the prices of all goods and services produced, whereas the CPI only measures prices of goods and servicesbought by consumers. The GDP deflator includes only domestically produced goods, whereas the CPI includes domestic and foreign goods bought by consumers. Finally, the CPI is a Laspeyres index that assigns fixed weights to the prices of different goods, whereas the GDP deflator is a Paasche index that assigns changing weights to the prices of different goods. In practice, the two price indices tend to move together and do not often diverge.4. The CPI measures the price of a fixed basket of goods relative to the price of the same basket in the baseyear. The PCE deflator is the ratio of nominal consumer spending to real consumer spending. The CPI and the PCE deflator are similar in that they both only include the prices of goods purchased byconsumers, and they both include the price of imported goods as well as domestically produced goods.The two measures differ because the CPI measures the change in the price of a fixed basket whereas the goods measured by the PCE deflator change from year to year depending on what consumers are purchasing in that particular year.5. The Bureau of Labor Statistics (BLS) classifies each person into one of the following three categories:employed, unemployed, or not in the labor force. The unemployment rate, which is the percentage of the labor force that is unemployed, is computed as follows:Unemployment Rate = Number of UnemployedLabor Force´100.Note that the labor force is the number of people employed plus the number of people unemployed. 6. Every month, the Bureau of Labor Statistics undertakes two surveys to measure employment. First, theBLS surveys about 60,000 households and thereby obtains an estimate of the share of people who say they are working. The BLS multiplies this share by an estimate of the population to estimate thenumber of people working. Second, the BLS surveys about 160,000 business establishments and asks how many people they employ. Each survey is imperfect; so the two measures of employment are not identical.Problems and Applications1. From the main Web page click on the interactive data tab at the top, select GDP, begin usingthe data, section 1, and then table 1.1.1. Real GDP grew at a rate of 2.2 percent in quarter 4 of 2014.When compared to growth rates of −2.1percent, 4.6 percent, and 5 percent for the first three quarters of 2014, the rate of 2.2 percent was slightly below average. From the main Web page select the data tools tab, then top picks. Check the box for the unemployment rate and retrieve the data. The unemployment rate in March 2015 was 5.5 percent, which was about equal to the natural rate ofunemployment, or the long run average rate. From the main page, select the economic releases tab, then inflation and prices. Access the report for the CPI. In February 2015, the inflation rate for all items was 0 percent, and if food and energy were excluded the rate was 1.7 percent. The inflation rate was below average and below the Federal Reserve’s target of 2 percent.2. Value added by each person is equal to the value of the good produced minus the amount the personpaid for the materials needed to make the good. Therefore, the value added by the farmer is $1.00 ($1 –0 = $1). The value added by the miller is $2: she sells the flour to the baker for $3 but paid $1 for theflour. The value added by the baker is $3: she sells the bread to the engineer for $6 but paid the miller $3 for the flour. GDP is the total value added, or $1 + $2 + $3 = $6. Note that GDP equals the value of the final good (the bread).3. When a woman marries her butler, GDP falls by the amount of the butler’s salary. This happensbecause GDP measures total income, and therefore GDP, falls by t he amount of the butler’s loss i n salary. If GDP truly measures the value of all goods and services, then the marriage would not affect GDP since the total amount of economic activity is unchanged. Actual GDP, however, is an imperfect measure of economic activity because the value of some goods and services is left out. Once thebutler’s work becomes part of his household chores, his services are no longer counted in GDP. As this example illustrates, GDP does not include the value of any output produced in the home.4. a. The airplane sold to the U.S. Air Force counts as government purchases because the Air Force ispart of the government.b. The airplane sold to American Airlines counts as investment because it is a capital good sold to aprivate firm.c. The airplane sold to Air France counts as an export because it is sold to a foreigner.d. The airplane sold to Amelia Earhart counts as consumption because it is sold to a privateindividual.e. The airplane built to be sold next year counts as investment. In particular, the airplane is countedas inventory investment, which is where goods that are produced in one year and sold in anotheryear are counted.5. Data on parts (a) to (f) can be downloaded from the Bureau of Economic Analysis. Go to the Website, click on the interactive data tab at the top, select GDP, begin using the data, section 1, and then table 1.1.5. Choose the ―modify the data‖ option to select the years you in which you areinterested. By dividing each component (a) to (f) by nominal GDP and multiplying by 100, we obtain the following percentages:1950 1980 2014a. Personal consumption expenditures 64.0% 61.3% 68.5%b. Gross private domestic investment 18.8% 18.5% 16.4%c. Government consumption purchases 16.9% 20.6% 18.2%d. Net exports 0.2% –0.5% 3.1%e. National defense purchases 7.6% 6.3% 4.4%f. Imports 3.9% 10.3% 16.5%(Note: The above data was downloaded April 3, 2015, from the BEA Web site.)Among other things, we observe the following trends in the economy over the period 1950–2015:a. Personal consumption expenditures have been around two-thirds of GDP between 1980 and 2015.b. The share of GDP going to gross private domestic investment remained fairly steady.c. The share going to government consumption purchases rose sharply from 1950 to 1980.d. Net exports, which were positive in 1950, have been negative since that time.e. The share going to national defense purchases has fallen.f. Imports have grown rapidly relative to GDP.6.a. GDP measures the value of the final goods and services produced, or $1,000,000.b. NNP is equal to GNP minus depreciation. In this example, GDP is equal to GNP because there areno foreign transactions. Therefore, NNP is equal to $875,000.c. National income is equal to NNP, or $875,000.d. Employee compensation is equal to $600,000.e. Proprietors ’ income measures the income of the owner,and is equal to 150,000.f. Corporate profit is equal to corporate taxes plus dividends plus retained earnings, or $275,000. Retained earnings is calculated as sales minus wages minus dividends minus depreciation minus corporate tax, or $75,000.g. Personal income is equal to employee compensation plus dividends, or $750,000.h. Disposable personal income is personal income minus taxes, or $550,000.7. a. i.Nominal GDP is the total value of goods and services measured at currentprices. Therefore,Nominal GDP 2010 = P hotdogs 2010´Q hotdogs 2010()+P burgers 2010´Q burgers 2010()= ($2⨯200) + ($3⨯200)= $400 + $600= $1,000.Nominal GDP 2015 = P hotdogs 2015´Q hotdogs 2015()+P burgers 2015´Q burgers 2015()= ($4⨯ 250) + ($4⨯500)= $1,000 + $2,000= $3,000.ii. Real GDP is the total value of goods and services measured at constantprices. Therefore, to calculate real GDP in 2015 (with base year 2010), multiplythe quantities purchased in the year 2015 by the 2010 prices:Real GDP 2015 = P 2010hotdogs ´Q 2015hotdogs ()+P 2010burgers ´Q 2015burgers ()= ($2⨯ 250) + ($3⨯500)= $500 + $1,500= $2,000.Real GDP for 2010 is calculated by multiplying the quantities in 2010 by theprices in 2010. Since the base year is 2010, real GDP 2010 equals nominalGDP 2010, which is $10,00. Hence, real GDP increased between2010 and 2015.iii. The implicit price deflator for GDP compares the current prices of all goodsand services produced to the prices of the same goods and services in a baseyear. It is calculated as follows:Implicit Price Deflator 2015 = Nominal GDP 2010Real GDP 2010 = 1Using the values for Nominal GDP 2015 and real GDP 2015 calculated above:Implicit Price Deflator 2015=$3,000$2,000= 1.50.This calculation reveals that prices of the goods produced in the year 2015increased by 50 percent compared to the prices that the goods in the economysold for in 2010. (Because 2010 is the base year, the value for the implicitprice deflator for the year 2010 is 1.0 becausenominal and real GDP are thesame for the base year.)iv. The consumer price index (CPI) measures the level of prices in the economy.The CPI is called a fixed-weight index because it uses a fixed basket of goods over time to weight prices.If the base year is 2010, the CPI in 2015 is measuring the cost of the basket in 2015 relative to the cost in 2010. The CPI2015 is calculated as follows:CPI2015= (P2015hotdogs´Q2010hotdogs) + (P2015burgers´Q2010burgers)(P2010hotdogs´Q2010hotdogs) + (P2010burgers´Q2010burgers)= $16,000,000 $10,000,000= 1.6.This calculation shows that the price of goods purchased in 2015 increased by 60percentcompared to the prices these goods would have sold for in 2010. The CPIfor 2010, the baseyear, equals 1.0.b. The implicit price deflator is a Paasche index because it is computed with a changingbasket ofgoods; the CPI is a Laspeyres index because it is computed with afixed basket of goods. From(7.a.iii), the implicit price deflator for the year 2015 is1.50, which indicates that prices rose by 50percent from what they were in theyear 2010. From (7.a.iv.), the CPI for the year 2015 is 1.6,which indicates thatprices rose by 60 percent from what they were in the year 2010.If prices of all goods rose by, for example, 50 percent, then one could say unambiguouslythat the price level rose by 50 percent. Yet, in our example, relativeprices have changed. The price ofhot dogs rose by 1020 percent; the price of hamburgers roseby 33.33 percent, making hamburgers relatively less expensive.As the discrepancy between the CPI and the implicit price deflator illustrates,the change in the price level depends on how the goods’ prices are weighted.The CPI weights the price of goods by the quantities purchased in the year2010. The implicit price deflator weights the price of goods by the quantities purchasedin the year 2015. Since the quantity of the two goods was the same in2010, the CPI is placing equal weight on the two price changes. In 2015, the quantity ofhamburgers was twice as large as hot dogs, so there is twice as much weight placed on thehamburger price relative to the hot dog price. For this reason, the CPI shows a larger inflation rate – more weight is placed on the good with the larger price increase.8. a. The consumer price index uses the consumption bundle in year 1 to figure out howmuch weight toput on the price of a given good:CPI2=$2´10()+$1´0() $1´10()+$2´0()=P2red´Q1red()+P2green´Q1green()P1red´Q1red()+P1green´Q1green()= 2.According to the CPI, prices have doubled.b. Nominal spending is the total value of output produced in each year. In year 1 and year 2, Abbybuys 10 apples for $1 each, so her nominal spending remains constant at $10. For example,Nominal Spending2= P2red ´Q2red()+P2green´Q2green()= ($2 ⨯ 0) + ($1 ⨯ 10)= $10.c. Real spending is the total value of output produced in each year valued at the prices prevailing inyear 1. In year 1, the base year, her real spending equals her nominal spending of $10. In year 2, she consumes 10 green apples that are each valued at their year 1 price of $2, so her real spending is $20. That is,Real Spending2= P1red ´Q2red()+P1green´Q2green()= ($1 ⨯ 0) + ($2 ⨯ 10)= $20.Hence, Abby’s real spending rises from $10 to $20.d. The implicit price deflator is calculated by dividing Abby’s nominal spending inyear 2 by her realspending that year:Implicit Price Deflator2=Nominal Spending2 Real Spending2=$10 $20= 0.5.Thus, the implicit price deflator suggests that prices have fallen by half. The reasonfor this is that the deflator estimates how much Abby values her apples usingprices prevailing in year 1. Fromthis perspective green apples appear very valuable.In year 2, when Abby consumes 10 greenapples, it appears that her consumptionhas increased because the deflator values green apples more highly thanred apples. The only way she could still be spending $10 on a higherconsumptionbundle is if the price of the good she was consuming fell.e. If Abby thinks of red apples and green apples as perfect substitutes, then the costof living in thiseconomy has not changed—in either year it costs $10 to consume10 apples. According to the CPI, however, the cost of living has doubled. This isbecause the CPI only takes into account the factthat the red apple price has doubled;the CPI ignores the fall in the price of green apples becausethey were not inthe consumption bundle in year 1. In contrast to the CPI, the implicit pricedeflatorestimates the cost of living has been cut in half. Thus, the CPI, a Laspeyresindex,overstates the increase in the cost of living and the deflator, a Paascheindex, understates it.9. a. The labor force includes full time workers, part time workers, those who run their own business,and those who do not have a job but are looking for a job. The labor force consists of 70 people.The working age population consists of the labor force plus those not in the labor force. The 10discouraged workers and the 10 retired people are not in the labor force, but assuming they arecapable of working, they are part of the adult population. The adult population consists of 90people, so the labor force participation rate is equal to 70/90 or 77.8 percent.b. The number of unemployed workers is equal to 10, so the unemployment rate is 10/70 or 14.3percent.c. The household survey estimates total employment by asking a sample of households about theiremployment status. The household survey would report 60 people employed. The establishmentsurvey estimates total employment by asking a sample of businesses to report how many workers they are employing. In this case the establishment survey would report 55 people employed. The 5 people with 2 jobs would be counted twice, and the 10 people who run their own business wouldnot be counted.10. As Senator Robert Kennedy pointed out, GDP is an imperfect measure of economic performance orwell-being. In addition to the left-out items that Kennedy cited, GDP alsoignores the imputed rent on durable goods such as cars, refrigerators, and lawnmowers;many services and products produced as part of household activity, such as cooking andcleaning; and the value of goods produced and sold in illegal activities, such as the drugtrade. These imperfections in the measurement of GDP do notnecessarily reduce itsusefulness. As long as these measurement problems stay constant over time, then GDPis useful in comparing economic activity from year to year. Moreover, a large GDPallows us to afford better medical care for our children, newer books for their education,and more toys for their play. Finally, countries with higher levels of GDP tend to havehigher levels of life expectancy, better access to clean water and sanitation, and higherlevels of education. GDP is therefore a useful measure for comparing the level ofgrowth and development across countries.11. a. Real GDP falls because Disney World does not produce any services while it is closed. Thiscorresponds to a decrease in economic well-being because the income of workers and shareholders of Disney World falls (t he income side of the national accounts), and people’s consumption ofDisney World falls (the expenditure side of the national accounts).b. Real GDP rises because the original capital and labor in farm production now produce more wheat.This corresponds to an increase in the economic well-being of society, since people can nowconsume more wheat. (If people do not want to consume more wheat, then farmers and farmlandcan be shifted to producing other goods that society values.)c. Real GDP falls because with fewer workers on the job, firms produce less. This accurately reflectsa fall in economic well-being.d. Real GDP falls because the firms that lay off workers produce less. This decreases economic well-being because workers’ incomes fall (the inco me side), and there are fewer goods for people tobuy (the expenditure side).e. Real GDP is likely to fall, as firms shift toward production methods that produce fewer goods butemit less pollution. Economic well-being, however, may rise. The economy now produces lessmeasured output but more clean air. Clean air is not traded in markets and, thus, does not show up in measured GDP, but is nevertheless a good that people value.f. Real GDP rises because the high school students go from an activity in which they are notproducing market goods and services to one in which they are. Economic well-being, however,may decrease. In ideal national accounts, attending school would show up as investment because it presumably increases the future productivity of the worker. Actual national accounts do notmeasure this type of investment. Note also that future GDP may be lower than it would be if thestudents stayed in school, since the future work force will be less educated.g. Measured real GDP falls because fathers spend less time producing market goods and services.The actual production of goods and services need not have fallen because but unmeasuredproduction of child-rearing services rises. The well-being of the average person may very well rise if we assume the fathers and the children enjoy the extra time they are spending together.。