曼昆_经济学原理答案_英文版

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1、曼昆_经济学原理答案_英文版第一章SOLUTIONSTOTEXTPROBLEMS:QuickQuizzes1.Thefourprinciplesofeconomicdecisionmakingare:(1)peoplefacetradeoffs;(2)thecostofsomethingiswhatyougiveuptogetit;(3)rationalpeoplethinkatthemargin;and(4)peoplerespondtoincentives.Peoplefacetradeoff

2、sbecausetogetonethingthattheylike,theyusuallyhavetogiveupanotherthingthattheylike.Thecostofsomethingiswhatyougiveuptogetit,notjustintermsofmonetarycostsbutallopportunitycosts.Rationalpeoplethinkatthemarginbytakinganactionifandonlyifthemarginalbenefits

3、exceedthemarginalcosts.Peoplerespondtoincentivesbecauseastheycomparebenefitstocosts,achangeinincentivesmaycausetheirbehaviortochange.2.Thethreeprinciplesconcerningeconomicinteractionsare:(1)tradecanmakeeveryonebetteroff;(2)marketsareusuallyagoodwaytoo

4、rganizeeconomicactivity;and(3)governmentscansometimesimprovemarketoutcomes.Tradecanmakeeveryonebetteroffbecauseitallowscountriestospecializeinwhattheydobestandtoenjoyawidervarietyofgoodsandservices.Marketsareusuallyagoodwaytoorganizeeconomicactivitybe

5、causetheinvisiblehandleadsmarketstodesirableoutcomes.Governmentscansometimesimprovemarketoutcomesbecausesometimesmarketsfailtoallocateresourcesefficientlybecauseofanexternalityormarketpower.3.Thethreeprinciplesthatdescribehowtheeconomyasawholeworksare

6、:(1)acountry’sstandardoflivingdependsonitsabilitytoproducegoodsandservices;(2)pricesrisewhenthegovernmentprintstoomuchmoney;and(3)societyfacesashort-runtradeoffbetweeninflationandunemployment.Acountry’sstandardoflivingdependsonitsabilitytoproducegoods

7、andservices,whichinturndependsonitsproductivity,whichisafunctionoftheeducationofworkersandtheaccessworkershavetothenecessarytoolsandtechnology.Pricesrisewhenthegovernmentprintstoomuchmoneybecausemoremoneyincirculationreducesthevalueofmoney,causinginfl

8、ation.Societyfacesashort-runtradeoffbetweeninflationandunemploymentthatisonlytemporaryandpolicymakershavesomeabilitytoexploitthisrelationshipusingvariouspolicyinstruments.QuestionsforReview1.Examplesoftradeoffsincludetimetradeoffs(suchasstudyi