布蘭查德宏觀經(jīng)濟學(xué)課后答案

1、Chapter 11. a. True. b. True. c. False. d. True. e. False. f. False.2. a. 1960-98 1997-99---------- ---------US 3.1% 3.8%EU 3.1% 2.5%Japan 5.8% -1.0%While the US growth rate higher than its long-run av

2、erage over the period, the growth rate has slowed relative to long-run averages in both the EU and Japan over the last few years.b. Sometimes the economy is growing quickly, other times it is growing slowly or even con

3、tracting. The last few years of rapid growth in the US do not imply that the long-run average rate of growth has increased back to its pre-1974 level.3. a. The data in the web page are: Real Gross Domestic Product,Real

4、 Final Sales of Domestic Product, andReal Gross National Product, Quarterly, 1959-96[Percent change from preceding quarter] --------------------------------------------------------Gross Final sales Grossdomestic of dom

5、estic nationalproduct product product------------------------------------------------------- 1959: I 8.6 9.2 8.6II 11.2 7.3 11.1III -0.3 5.3 -0.2IV 1.7 -1.3 1.91996: I 1.8 2.6 1.8II 6.0 5.2 5.7III 1.0 0.2 0.6IV 4.3 4.5 4

6、.9--------------------------------------------------------suggesting that recessions typically last two-three quarters and that the most severe recessions in that period were the recessions of 1974-75 and 1981-82. b. Pe

7、rcentage Changes in: Output Growth Inflation1968: 4.7 4.4I 7.5 4.7II 7.1 4.1III 3.0 3.8IV 1.8 5.51969: 3.0 4.7f. Uncertain. Which index is better depends on what we are trying to measure—inflation faced by consumers

8、or by the economy as a whole.2. a. +$100; Personal Consumption Expenditures b. nochange:intermediategood c. +$200 million; Gross PrivateDomesticFixedInvestment d. +$200 million; Net Exports e. no change: the jet wa

9、s 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 be

10、cause 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 meas

11、ure 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:$300,000.2ndStage:$1,000,00- $300,000=$700,000. GDP: $300,000+$700,

12、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*$1,000+1000*$

13、1=$25,0001999 GDP: 12*$3,000+6*$500+1000*$1=$40,000Nominal GDP has increased by 60%.b. 1998 real (1998) GDP: $25,0001999 real (1998) GDP: 12*$2,000+6*$1,000+1000*$1=$31,000 Real (1998) GDP has increased by 24%.c. 1998

14、real (1999) GDP: 10*$3,000+4*$500+1,000*$1=$33,0001999 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=1.29Inflation=29%

15、b. 1999 base year:Deflator(1998)=$25,000/$33,000=0.76; Deflator(1999)=1 Inflation=(1-0.76)/0.76=.32=32% c. Yes7. a. 1998 real GDP = 10*$2,500 + 4*$750 + 1000*$1 = $29,0001999 real GDP = 12*$2,500 + 6*$750 +

16、 1000*$1 = $35,500b. (35,500-29,000)/29,000 = .224 = 22.4% c. Deflator in 1998=$25,000/$29,000=.86Deflator in 1999=$40,000/$35,500=1.13Inflation = (1.13 -.86)/.86 = .314 = 31.4%.8. a. The quality of a routine chec

17、kup 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 va

18、lues 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 increa

19、se 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 w