曼昆宏观经济学第五版答案

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1、CHAPTER2TheDataofMacroeconomicsQuestionsforReview1.GDPmeasuresboththetotalincomeofeveryoneintheeconomyandthetotalexpendi-tureontheeconomy’soutputofgoodsandservices.GDPcanmeasuretwothingsatoncebecausebotharereallythesamething:foraneconomyasawhole,inco

2、memustequalexpenditure.Asthecircularflowdiagraminthetextillustrates,thesearealter-native,equivalentwaysofmeasuringtheflowofdollarsintheeconomy.2.Theconsumerpriceindexmeasurestheoveralllevelofpricesintheeconomy.Ittellsusthepriceofafixedbasketofgoodsre

3、lativetothepriceofthesamebasketinthebaseyear.3.TheBureauofLaborStatisticsclassifieseachpersonintooneofthefollowingthreecat-egories:employed,unemployed,ornotinthelaborforce.Theunemploymentrate,whichisthepercentageofthelaborforcethatisunemployed,iscomp

4、utedasfollows:NumberofUnemployed×100UnemploymentRate=.LaborForceNotethatthelaborforceisthenumberofpeopleemployedplusthenumberofpeopleunemployed.4.Okun’slawreferstothenegativerelationshipthatexistsbetweenunemploymentandrealGDP.Employedworkershelpprodu

5、cegoodsandserviceswhereasunemployedworkersdonot.IncreasesintheunemploymentratearethereforeassociatedwithdecreasesinrealGDP.Okun’slawcanbesummarizedbytheequation:%∆RealGDP=3%–2×(∆UnemploymentRate).Thatis,ifunemploymentdoesnotchange,thegrowthrateofreal

6、GDPis3percent.Foreverypercentage-pointchangeinunemployment(forexample,afallfrom6percentto5percent,oranincreasefrom6percentto7percent),outputchangesby2percentintheoppositedirection.ProblemsandApplications1.Alargenumberofeconomicstatisticsarereleasedre

7、gularly.Theseincludethefollow-ing:GrossDomesticProduct—themarketvalueofallfinalgoodsandservicesproducedinayear.TheUnemploymentRate—thepercentageofthecivilianlaborforcewhodonothaveajob.CorporateProfits—theaccountingprofitsremainingaftertaxesofallmanuf

8、acturingcorporations.Itgivesanindicationofthegeneralfinancialhealthofthecorporatesec-tor.TheConsumerPriceIndex(CPI)—ameasureoftheaveragepricethatconsumerspayforthegoodstheybuy;changesintheCPIareameasureofinflation.TheTradeBalance—thedifferencebetween