宏观经济学的14.02大原则 问题集1 _解决方案_ 秋季2004

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1、14.02PrinciplesofMacroeconomicsProblemSet1*Solution*Fall2004PartI.True/False/UncertainJustifyyouranswerwithashortargument.1.From1960to2000,theUS,EU,andJapanallhaveexperiencedsimilarratesofunemployment.False.Allthreeregionshaveexperienceddrasticallydifferentratesofunemployment.[Tables1-1,1-2,1

2、-3]tellusthattheUSaverageunemploymentratefor1960-2000was6.1%,thatofEUwas6.5%,andthatofJapanwas2.0%.EventhoughtheaverageratesofunemploymentweresimilarintheUSandEU,figure1-5showsthattheunemploymentrateswereactuallyverydifferentoverthisperiod.2.GDPisthevalueofallgoodsandservicesproducedintheecon

3、omy.False.(Seepage22)GDP=GrossDomesticProductGDP=Valueof*FINAL*goods&servicesproducedintheeconomy.3.ThePhillipsCurvedescribesthenegativerelationshipbetweenthechangeinunemploymentrateandinflation.False.PhillipsCurve(ModifiedPhillipsCurve)(page32-33)→negativerelationshipbetweentheunemploymentra

4、te&theCHANGEininflation(Whentheunemploymentrateislow,inflationtendstoincrease.)(WewillrevisitthePhillipsCurveinchapter8again.)4.Inflationisbadfortheeconomybecausegoodsandservicesaremoreexpensive.Uncertain.(page33)Inflationusuallyleadstodistortionsbecauseallpricesandwagesdonotriseproportionate

5、lyduringinflationaryperiods.So,inflationaffectsincomedistributionandmayleadtouncertaintiesaboutthefuturewhichisconsiderednotgood.(Ifallpricesriseproportionallyitiscalledpureinflationanditwouldjustbeaminorinconvenience.)5.Themultiplier(Keynesianmultiplier)isalwaysgreaterthan1ifT=0andG=0.True.(

6、page52)GoodsMarketEqm→Y=C+I+GY=[c0+c1Y-c1T]+I+G1Y=[][c0+I+G-c1T]1−c11multiplier→[]1−c11If011−c1Ifthemarginalpropensitytoconsumeislessthan1,itmeansthatpeopleconsumelessthan100%oftheirdisposableincome.Italsoimpliesthatthemultiplierisgreater1.ThefactthatT=0andG=0isirrelevant.PartII.NATI

7、ONALACCOUNTS(GDP,GDPDEFLATOR&CPI)ForpartII,assumethefollowing:1.MITisanautonomouscountry.2.Theonlygood/serviceproducedatMITisundergrad(freshmen)education.1.Fillinthefollowing:#ofMITyearfreshmenPricenominalGDPrealGDPrealGDP(Tuition)(1950$)(200