宏观经济学英文版复习提纲

1、Definition of Terms (5×4, 20 points)

Chapter 1

1.Macroeconomics

Macroeconomics is the study of the economy as a whole, including growth in incomes, changes in prices, and the rate of unemployment.

Chapter 2

2.Gross domestic product (GDP)

Gross domestic product (GDP) measures the income of everyone in the economy and, equivalently, the total expenditure on the economy’s output of goods and services.

3.Value added

The value added of a firm equals the value of the firm’s output less the value of the intermediate goods that the firm purchases.

4.Real GDP

Real GDP is the value of goods and services measured using a constant set of prices.

5.GDP deflator

The GDP deflator is the ratio of nominal GDP to real GDP.It reflects what’s happening to the overall level of prices in the economy.

6.Consumer price index (CPI)

The consumer price index (CPI) measures the price of a fixed basket of goods and services purchased by a typical consumer. It measures the overall level of prices.

7.Unemployment rate

The unemployment rate shows what fraction of those who would like to work do not have

a job. Unemployment Rate = Number of Unemployed/Labor Force×100％.

https://www.wendangku.net/doc/9613140824.html,bor-force participation rate

The labor-force participation rate shows the fraction of adults who are working or want to work. Labor-Force Participation Rate = Labor Force / Adult Population ×100％.

Chapter 3

9.Disposable income

We define income after the payment of all taxes, Y ?T, to be disposable income.

10.Marginal propensity to consume(MPC)

The marginal propensity to consume (MPC) is the amount by which consumption changes when disposable income increases by one dollar. The MPC is between zero and one.

11.Real interest rate

The real interest rate is the nominal interest rate corrected for the effects of inflation. Chapter 4

12.Inflation

The overall increase in prices is called inflation,

13.Hyperinflation

Hyperinflation is often defined as inflation that exceeds 50 percent per month, which is just over 1 percent per day.

14.Money

Money is the stock of assets that can be readily used to make transactions.

15.Fiat money

Money that has no intrinsic value is called fiat money because it is established as money by government decree, or fiat.

https://www.wendangku.net/doc/9613140824.html,modity money

Most societies in the past have used a commodity with some intrinsic value for money.This type of money is called commodity money.

17.Money supply

The quantity of money available in an economy is called the money supply.

18.Quantity equation

The link between transactions and money is expressed in the following equation, called the quantity equation: Money ×Velocity = Price × Transactions M ×V = P ×T.

19.Income velocity of money

The income velocity of money tells us the number of times a dollar bill enters someone’s income in a given period of time.

20.Real money balances

M/P is called real money balances. Real money balances measure the purchasing power of the stock of money

21.Seigniorage

The revenue raised by the printing of money is called seigniorage.

22.Fisher equation and Fisher effect

The nominal interest rate is the sum of the real interest rate and the inflation rate: i = r +∏. The equation written in this way is called the Fisher equation

According to the quantity theory, an increase in the rate of money growth of 1 percent causes a 1 percent increase in the rate of inflation. According to the Fisher equation, a 1 percent increase in the rate of inflation in turn causes a 1 percent increase in the nominal interest rate. The one-for-one relation between the inflation rate and the nominal interest rate is called the Fisher effect.

23.Shoeleather costs

The inconvenience of reducing money holding is called the shoeleather cost of inflation, because walking to the bank more often causes one’s shoes to wear out more quickly

24.Menu costs

High inflation induces firms to change their posted prices more often. These costs are called menu costs.

25.Classical dichotomy

Classical theory allows us to study how real variables are determined without any reference to the money supply. This theoretical separation of real and nominal variables is called the classical dichotomy.

26.Monetary neutrality

In classical economic theory, changes in the money supply don’t influence real variables. This irrelevance of money for real variables is called monetary neutrality.

Chapter 6

27.Natural rate of unemployment

Natural rate of unemployment is the average rate of unemployment around which the economy fluctuates.

28.Frictional unemployment

The unemployment caused by the time it takes workers to search for a job is called frictional unemployment.

29.Wage rigidity

Wage rigidity is the failure of wages to adjust to a level at which labor supply equals labor demand.

30.Structural unemployment

The unemployment resulting from wage rigidity and job rationing is called structural unemployment.

31.Efficiency wages

Efficiency-wage theories propose a third cause of wage rigidity in addition to

minimum-wage laws and unionization. These theories hold that high wages make workers more productive.

Chapter 7

32.Steady state

At k*, Δk = 0,so the capital stock k and output f(k) are steady over time (rather than growing or shrinking). We therefore call k* the steady-state level of capital. The steady state represents the long-run equilibrium of the economy.

33.Golden Rule level of capital

The steady-state value of k that maximizes consumption is called the Golden Rule level of capital and is denoted k*gold.

Chapter 8

34.Endogenous growth theory

Modern theories of endogenous growth attempt to explain the rate of technological progress, which the Solow model takes as exogenous.

Chapter 9

35.Okun’s law

Because employed workers help to produce goods and services and unemployed workers do not, increases in the unemployment rate should be associated with decreases in real GDP. This negative relationship between unemployment and GDP is called Okun’s law,Okun’s law says that 1 percentage point of unemployment translates into 2 percentage points of GDP.

36.Aggregate demand

Aggregate demand (AD) is the relationship between the quantity of output demanded and the aggregate price level. In other words, the aggregate demand curve tells us the quantity of goods and services people want to buy at any given level of prices.

37.Aggregate supply

Aggregate supply (AS) is the relationship between the quantity of goods and services supplied and the price level.

38.Demand shocks

A shock that shifts the aggregate demand curve is called a demand shock.

39.Supply shocks

A shock that shifts the aggregate supply curve is called a supply shock.

40.Stabilization policy

Economists use the term stabilization policy to refer to policy actions aimed at reducing

the severity of short-run economic fluctuations.

Chapter 10

41.IS curve

IS stands for ―investment’’ and ―saving,’’ and the IS curve represents the negative relationship between the interest rate and the level of income that arises from equilibrium in the market for goods and services.

42.LM curve

LM stands for ―liquidity’’ and ―money,’’ and the LM curve represents the positive relationship between the interest rate and the level of income that arises from equilibrium in the market for real money balances.

43.Keynesian cross

The Keynesian cross is a basic model of income determination. It takes fiscal policy and planned investment as exogenous and then shows that there is one level of national income at which actual expenditure equals planned expenditure.

Chapter 13

44.Phillips curve

The Phillips curve in its modern form states that the inflation rate depends on three forces: ■ Expected inflation

■ The deviation of unemployment from the natural rate, called cyclical unemployment

■ Supply shocks.

These three forces are expressed in the following equation:

Π= EΠ?β(u ?u n) +v

Inflation= Expected Inflation ?(β×Cyclical Unemployment ) + Supply Shock,

whereβis a parameter measuring the response of inflation to cyclical unemployment. There is a minus sign before the cyclical unemployment term: other things equal, higher unemployment is associated with lower inflation

45.Adaptive expectations

A simple and often plausible assumption is that people form their expectations of inflation based on recently observed inflation. This assumption is called adaptive expectations.

46.Demand-pull inflation

The second term, β(u ?u n), shows that cyclical unemployment—the deviation of unemployment from its natural rate—exerts upward or downward pressure on inflation. Low unemployment pulls the inflation rate up. This is called demand-pull inflation because high aggregate demand is responsible for this type of inflation.

47.Cost-push inflation

The third term, v, shows that inflation also rises and falls because of supply shocks. An adverse supply shock, such as the rise in world oil prices in the 1970s, implies a positive value of v and causes inflation to rise. This is called cost-push inflation because adverse supply shocks are typically events that push up the costs of production.

48.Sacrifice ratio

The sacrifice ratio is the percentage of a year’s real GDP that must be forgone to reduce inflation by 1 percentage point. Although estimates of the sacrifice ratio vary substantially, a typical estimate is about 5: for every percentage point that inflation is to fall, 5 percent of one year’s GDP must be sacrificed.

49.Rational expectations

An alternative approach is to assume that people have rational expectations. That is, we might assume that people optimally use all the available information, including information about current government policies, to forecast the future.

50.Natural-rate hypothesis

The natural-rate hypothesis is summarized in the following statement: Fluctuations in aggregate demand affect output and employment only in the short run. In the long run, the economy returns to the levels of output, employment, and unemployment

described by the classical mode

51.Hysteresis

Some economists have pointed out a number of mechanisms through which recessions might leave permanent scars on the economy by altering the natural rate of unemployment. Hysteresis is the term used to describe the long-lasting influence of history on the natural rate.

2、Gap Filling(20×1, 20 points)

Summary in all chapters that we already studied

NOTE: I will give you a word list, you choose the word from the list and fill out

Chapter 1

1. Macroeconomics is the study of the economy as a whole, including growth in incomes, changes in prices, and the rate of unemployment. Macroeconomists attempt both to explain economic events and to devise policies to improve economic performance.

2. To understand the economy, economists use models—theories that simplify reality in order to reveal how exogenous variables influence endogenous variables. The art in the science of economics is in judging whether a model captures the important economic relationships for the matter at hand. Because no single model can answer all questions, macroeconomists

use different models to look at different issues.

3. A key feature of a macroeconomic model is whether it assumes that prices are flexible or sticky. According to most macroeconomists, models with flexible prices describe the economy in the long run, whereas models with sticky prices offer a better description of the

economy in the short run.

4. Microeconomics is the study of how firms and individuals make decisions and how these decisionmakers interact. Because macroeconomic events arise from many microeconomic interactions, all macroeconomic models must be consistent with microeconomic foundations, even if those foundations are only implicit.

Chapter 2

1. Gross domestic product (GDP) measures the income of everyone in the economy and, equivalently, the total expe nditure on the economy’s output of goods and services.

2. Nominal GDP values goods and services at current prices. Real GDP values goods and services at constant prices. Real GDP rises only when the amount of goods and services has increased, whereas nominal GDP can rise either because output has increased or because prices have increased.

3. GDP is the sum of four categories of expenditure: consumption, investment, government purchases, and net exports.

4. The consumer price index (CPI) measures the price of a fixed basket of goods and services purchased by a typical consumer. Like the GDP deflator, which is the ratio of nominal GDP to real GDP, the CPI measures the overall level of prices.

5. The labor-force participation rate shows the fraction of adults who are working or want to work. The unemployment rate shows what fraction of those who would like to work do not have a job.

Chapter 3

1. The factors of production and the production technology determine the economy’s output of goods and services. An increase in one of the factors of production or a technological advance raises output.

2. Competitive, profit-maximizing firms hire labor until the marginal product of labor equals the real wage. Similarly, these firms rent capital until the marginal product of capital equals the real rental price. Therefore, each factor of production is paid its marginal product. If the production function has constant returns to scale, then according to Euler’s theorem, all output is used to compensate the inputs.

3. The econ omy’s output is used for consumption, investment, and government purchases. Consumption depends positively on disposable income. Investment depends negatively on the real interest rate. Government purchases and taxes are the exogenous variables of fiscal policy.

4. The real interest rate adjusts to equilibrate the supply and demand for the economy’s output—or, equivalently, the supply of loanable funds (saving) and the demand for loanable funds (investment). A decrease in national saving, perhaps because of an increase in government purchases or a decrease in taxes, reduces the equilibrium amount of investment and raises the interest rate. An increase in investment demand, perhaps because of a technological innovation or a tax incentive for investment, also raises the interest rate. An increase in investment demand increases the quantity of investment only if higher interest rates stimulate additional saving.

Chapter 4

1. Money is the stock of assets used for transactions. It serves as a store of value, a unit of account, and a medium of exchange. Different sorts of assets are used as money: commodity

money systems use an asset with intrinsic value, whereas fiat money systems use an asset whose sole function is to serve as money. In modern economies, a central bank such as the Federal Reserve is responsible for controlling the supply of money.

2. The quantity theory of money assumes that the velocity of money is stable and concludes that nominal GDP is proportional to the stock of money. Because the factors of production and the production function determine real GDP, the quantity theory implies that the price level is proportional to the quantity of money. Therefore, the rate of growth in the quantity of money determines the inflation rate.

3. Seigniorage is the revenue that the government raises by printing money. It is a tax on money holding. Although seigniorage is quantitatively small in most economies, it is often a major source of government revenue in economies experiencing hyperinflation.

4. The nominal interest rate is the sum of the real interest rate and the inflation rate. The Fisher effect says that the nominal interest rate moves one-for-one with expected inflation.

5. The nominal interest rate is the opportunity cost of holding money. Thus, one might expect the demand for money to depend on the nominal interest rate. If it does, then the price level depends on both the current quantity of money and the quantities of money expected in the future.

6. The costs of expected inflation include shoeleather costs, menu costs, the cost of relative price variability, tax distortions, and the inconvenience of making inflation corrections. In addition, unexpected inflation causes arbitrary redistributions of wealth between debtors and creditors. One possible benefit of inflation is that it improves the functioning of labor markets by allowing real wages to reach equilibrium levels without cuts in nominal wages.

7. During hyperinflations, most of the costs of inflation become severe. Hyperinflations typically begin when governments finance large budget deficits by printing money. They end when fiscal reforms eliminate the need for seigniorage.

8. According to classical economic theory, money is neutral: the money supply does not affect real variables. Therefore, classical theory allows us to study how real variables are determined without any reference to the money supply. The equilibrium in the money market then determines the price level and, as a result, all other nominal variables. This theoretical separation of real and nominal variables is called the classical dichotomy.

Chapter 6

1. The natural rate of unemployment is the steady-state rate of unemployment. It depends on the rate of job separation and the rate of job finding.

2. Because it takes time for workers to search for the job that best suits their individual skills and tastes, some frictional unemployment is inevitable. Various government policies, such as unemployment insurance, alter the amount of frictional unemployment.

3. Structural unemployment results when the real wage remains above the level that equilibrates labor supply and labor demand. Minimum-wage legislation is one cause of wage rigidity. Unions and the threat of unionization are another. Finally, efficiency-wage theories suggest that, for various reasons, firms may find it profitable to keep wages high despite an excess supply of labor.

4. Whether we conclude that most unemployment is short-term or long-term depends on how we look at the data. Most spells of unemployment are short. Yet most weeks of unemployment are attributable to the small number of long-term unemployed.

5. The unemployment rates among demographic groups differ substantially. In particular, the unemployment rates for younger workers are much higher than for older workers. This results from a difference in the rate of job separation rather than from a difference in the rate of job finding.

6. The natural rate of unemployment in the United States has exhibited longterm trends. In particular, it rose from the 1950s to the 1970s and then started drifting downward again in the 1990s and early 2000s. Various explanations of the trends have been proposed, including the changing demographic composition of the labor force, changes in the prevalence of sectoral shifts, and changes in the rate of productivity growth.

7. Individuals who have recently entered the labor force, including both new entrants and reentrants, make up about one-third of the unemployed. Transitions into and out of the labor force make unemployment statistics more difficult to interpret.

8. American and European labor markets exhibit some significant differences. In recent years, Europe has experienced significantly more unemployment than the United States. In addition, because of higher unemployment, shorter workweeks, more holidays, and earlier retirement, Europeans work fewer hours than Americans.

Chapter 7

1. The Solow growth model shows that in the long run, an economy’s rate of saving determines the size of its capital stock and thus its level of production. The higher the rate of saving, the higher the stock of capital and the higher the level of output.

2. In the Solow model, an increase in the rate of saving has a level effect on income per person: it causes a period of rapid growth, but eventually that growth slows as the new steady state is reached. Thus, although a high saving rate yields a high steady-state level of output, saving by itself cannot generate persistent economic growth.

3. The level of capital that maximizes steady-state consumption is called the Golden Rule level. If an economy has more capital than in the Golden Rule steady state, then reducing saving will increase consumption at all points in time. By contrast, if the economy has less capital than in the Golden Rule steady state, then reaching the Golden Rule requires increased investment and thus lower consumption for current generations.

4. The Solow model shows that an economy’s rate of population growth is another long-run determinant of the standard of living. According to the Solow model, the higher the rate of population growth, the lower the steady-state levels of capital per worker and output per worker. Other theories highlight other effects of population growth. Malthus suggested

that population growth will strain the natural resources necessary to produce food; Kremer suggested that a large population may promote technological progress.

Chapter 8

1. In the steady state of the Solow growth model, the growth rate of income per person is determined solely by the exogenous rate of technological progress.

2. Many empirical studies have examined to what extent the Solow model can help explain long-run economic growth. The model can explain much of what we see in the data, such as balanced growth and conditional convergence. Recent studies have also found that international variation in standards of living is attributable to a combination of capital accumulation and the efficiency with which capital is used.

3. In the Solow model with population growth and technological progress, the Golden Rule

(consumption-maximizing) steady state is characterized by equality between the net marginal product of capital (MPK ? d) and the steady-state growth rate of total income (n + g). In the U.S. economy, the net marginal product of capital is well in excess of the growth rate, indicating that the U.S. economy has a lower saving rate and less capital than it

would have in the Golden Rule steady state.

4. Policymakers in the United States and other countries often claim that their nations should devote a larger percentage of their output to saving and investment. Increased public saving and tax incentives for private saving are two ways to encourage capital accumulation. Policymakers can also promote economic growth by setting up the right legal and financial institutions so that resources are allocated efficiently and by ensuring proper incentives to encourage research and technological progress.

5. In the early 1970s, the rate of growth of income per person fell substantially in most industrialized countries, including the United States. The cause of this slowdown is not well understood. In the mid-1990s, the U.S. growth rate increased, most likely because of advances in information technology.

6. Modern theories of endogenous growth attempt to explain the rate of technological progress, which the Solow model takes as exogenous. These models try to explain the decisions that determine the creation of knowledge through research and development. Chapter 9

1. Economies experience short-run fluctuations in economic activity, measured most broadly by real GDP. These fluctuations are associated with movement in many macroeconomic variables. In particular, when GDP growth declines, consumption growth falls (typically by a smaller amount), investment growth falls (typically by a larger amount), and unemployment rises. Although economists look at various leading indicators to forecast movements in the economy, these short-run fluctuations are largely unpredictable.

2. The crucial difference between how the economy works in the long run and how it works in the short run is that prices are flexible in the long run but sticky in the short run. The model of aggregate supply and aggregate demand provides a framework to analyze economic fluctuations and see how the impact of policies and events varies over different time horizons.

3. The aggregate demand curve slopes downward. It tells us that the lower the price level, the greater the aggregate quantity of goods and services demanded.

4. In the long run, the aggregate supply curve is vertical because output is determined by the amounts of capital and labor and by the available technology but not by the level of prices. Therefore, shifts in aggregate demand affect the price level but not output or employment.

5. In the short run, the aggregate supply curve is horizontal, because wages and prices are sticky at predetermined levels. Therefore, shifts in aggregate demand affect output and employment.

6. Shocks to aggregate demand and aggregate supply cause economic fluctuations. Because the Fed can shift the aggregate demand curve, it can attempt to offset these shocks to maintain output and employment at their natural levels.

Chapter 10

1. The Keynesian cross is a basic model of income determination. It takes fiscal policy and planned investment as exogenous and then shows that there is one level of national income at which actual expenditure equals planned expenditure. It shows that changes in fiscal policy

have a multiplied impact on income.

2. Once we allow planned investment to depend on the interest rate, the Keynesian cross yields a relationship between the interest rate and national income. A higher interest rate lowers planned investment, and this in turn lowers national income. The downward-sloping IS curve summarizes this negative relationship between the interest rate and income.

3. The theory of liquidity preference is a basic model of the determination of the interest rate. It takes the money supply and the price level as exogenous and assumes that the interest rate adjusts to equilibrate the supply and demand for real money balances. The theory implies that increases in the money supply lower the interest rate.

4. Once we allow the demand for real money balances to depend on national income, the theory of liquidity preference yields a relationship between income and the interest rate. A higher level of income raises the demand for real money balances, and this in turn raises the interest rate. The upward-sloping LM curve summarizes this positive relationship between income and the interest rate.

5. The IS–LM model combines the elements of the Keynesian cross and the elements of the theory of liquidity preference. The IS curve shows the points that satisfy equilibrium in the goods market, and the LM curve shows the points that satisfy equilibrium in the money market. The intersection of the IS and LM curves shows the interest rate and income that satisfy equilibrium in both markets for a given price level.

Chapter 11

1. The IS–LM model is a general theory of the aggregate demand for goods and services. The exogenous variables in the model are fiscal policy, monetary policy, and the price level. The model explains two endogenous variables: the interest rate and the level of national income.

2. The IS curve represents the negative relationship between the interest rate and the level of income that arises from equilibrium in the market for goods and services. The LM curve represents the positive relationship between the interest rate and the level of income that arises from equilibrium in the market for real money balances. Equilibrium in the IS–LM model—the intersection of the IS and LM curves—represents simultaneous equilibrium in the market for goods and services and in the market for real money balances.

3. The aggregate demand curve summarizes the results from the IS–LM model by showing equilibrium income at any given price level. The aggregate demand curve slopes downward because a lower price level increases real money balances, lowers the interest rate, stimulates investment spending, and thereby raises equilibrium income.

4. Expansionary fiscal policy—an increase in government purchases or a decrease in taxes—shifts the IS curve to the right. This shift in the IS curve increases the interest rate and income. The increase in income represents a rightward shift in the aggregate demand curve. Similarly, contractionary fiscal policy shifts the IS curve to the left, lowers the interest rate and income, and shifts the aggregate demand curve to the left.

5. Expansionary monetary policy shifts the LM curve downward. This shift in the LM curve lowers the interest rate and raises income. The increase in income represents a rightward shift of the aggregate demand curve. Similarly, contractionary monetary policy shifts the LM curve upward, raises the interest rate, lowers income, and shifts the aggregate demand curve

to the left.

Chapter 13

1. The two theories of aggregate supply—the sticky-price and imperfect-information models—attribute deviations of output and employment from their natural levels to various market imperfections. According to both theories, output rises above its natural level when the price level exceeds the expected price level, and output falls below its natural level when the price level is less than the expected price level.

2. Economists often express aggregate supply in a relationship called the Phillips curve. The Phillips curve says that inflation depends on expected inflation, the deviation of unemployment from its natural rate, and supply shocks. According to the Phillips curve, policymakers who control aggregate demand face a short-run tradeoff between inflation and unemployment.

3. If expected inflation depends on recently observed inflation, then inflation has inertia, which means that reducing inflation requires either a beneficial supply shock or a period of high unemployment and reduced output. If people have rational expectations, however, then a credible announcement of a change in policy might be able to influence expectations directly and, therefore, reduce inflation without causing a recession.

4. Most economists accept the natural-rate hypothesis, according to which fluctuations in aggregate demand have only short-run effects on output and unemployment. Yet some economists have suggested ways in which recessions can leave permanent scars on the economy by raising the natural rate of unemployment.

3、Short Answer Questions(4×10, 40 points)

Chapter 1

QUESTIONS FOR REVIEW:1,3

1.Explain the difference between macroeconomics and microeconomics. How are these two fields related?

Microeconomics is the study of how individual firms and households make decisions,and how they interact with one another. Microeconomic models of firms and households are based on principles of optimization—firms and households do the best they can given the constraints they face. For example, households choose which goods to purchase in order to maximize their utility, whereas firms decide how much to produce in order to maximize profits. In contrast, macroeconomics is the study of the economy as a whole; it focuses on issues such as how total output, total employment, and the overall price level are determined. These economy-wide variables are based on the interaction of many households and many firms; therefore, microeconomics forms the basis for macroeconomics.

3.What is a market-clearing model? When is it appropriate to assume that markets clear?

A market-clearing model is one in which prices adjust to equilibrate supply and demand.

Market-clearing models are useful in situations where prices are flexible. Yet in many situations, flexible prices may not be a realistic assumption. For example, labor contracts often set wages for up to three years. Or, firms such as magazine publishers change their prices only every three to four years. Most macroeconomists believe that price flexibility is a reasonable assumption for studying long-run issues. Over the long run, prices respond to changes in demand or supply, even though in the short run they may be slow to adjust.

Chapter 2

QUESTIONS FOR REVIEW:1

PROBLEMS AND APPLICATIONS:3,4

1.List the two things that GDP measures. How can GDP measure two things at once?

GDP measures the total income earned from the production of the new final goods and services in the economy, 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.

3.Suppose a woman marries her butler. After they are married, her husband continues to wait on her as before, and she continues to support him as before (but as a husband rather than as an employee). How does the marriage affect GDP? How should it affect GDP?

When a woman marries her butler, GDP falls by the amount of the butler’s salary. Thi s happens because measured total income, and therefore measured GDP, falls by the amount of the butler’s loss in salary. If GDP truly measured 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 the butler’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. Similarly, GDP does not include other goods and services, such as the imputed rent on durable goods (e.g., cars and refrigerators) and any illegal trade.

4.Place each of the following transactions in one of the four components of expenditure: consumption, investment, government purchases, and net exports.

a. Boeing sells an airplane to the Air Force.

b. Boeing sells an airplane to American Airlines.

c. Boeing sells an airplane to Air France.

d. Boeing sells an airplane to Amelia Earhart.

e. Boeing builds an airplane to be sold next year.

a. The airplane sold to the Air Force counts as government purchases because the Air Force is part of the government.

b. The airplane sold to American Airlines counts as investment because it is a capital good sold to a private 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 private individual.

e. The airplane built to be sold next year counts as investment. In particular, the airplane is counted as inventory investment, which is where goods that are produced in one year and sold in another year are counted.

Chapter 3

QUESTIONS FOR REVIEW:1

1.What determines the amount of output an economy produces?

The factors of production and the production technology determine the amount of output an economy can produce. The factors of production are the inputs used to produce goods and services: the most important factors are capital and labor. The production technology determines how much output can be produced from any given amounts of these inputs. An increase in one of the factors of production or an improvement in technology leads to an increase in the economy’s output.

Chapter 4

QUESTIONS FOR REVIEW:1,4,8

1.Describe the functions of money.

Money has three functions: it is a store of value, a unit of account, and a medium of exchange. As a store of value, money provides a way to transfer purchasing power from the present to the future. As a unit of account, money provides the terms in which prices are quoted and debts are recorded. As a medium of exchange, money is what we use to buy goods and services.

4.Write the quantity equation and explain it.

The quantity equation is an identity that expresses the link between the number of transactions that people make and how much money they hold. We write it as

Money ? Velocity = Price ? Transactions

M ? V = P ? T.

The right-hand side of the quantity equation tells us about the total number of transactions that occur during a given period of time, say, a year. T represents the total number of transactions. P represents the price of a typical transaction. Hence, the product P ? T represents the number of dollars exchanged in a year.

The left-hand side of the quantity equation tells us about the money used to make these transactions. M represents the quantity of money in the economy. V represents the transactions velocity of money—the rate at which money circulates in the economy.

Because the number of transactions is difficult to measure, economists usually use a slightly different version of the quantity equation, in which the total output of the economy Y replaces the number of transactions T:

Money ? Velocity = Price ? Output

M ? V = P ? Y.

P now represents the price of one unit of output, so that P ? Y is the dollar value of output—nominal GDP. V represents the income velocity of money—the number of times a dollar bill becomes a part of someone’s income.

8.List all the costs of inflation you can think of,and rank them according to how important you think they are.

The costs of expected inflation include the following:

a. Shoeleather costs. Higher inflation means higher nominal interest rates, which mean that people want to hold lower real money balances. If people hold lower money balances, they must make more frequent trips to the bank to withdraw money. This is inconvenient (and it causes shoes to wear out more quickly).

b. Menu costs. Higher inflation induces firms to change their posted prices more often. This may be costly if they must reprint their menus and catalogs.

c. Greater variability in relative prices. If firms change their prices infrequently, then inflation causes greater variability in relative prices. Since free-market economies rely on relative prices to allocate resources efficiently, inflation leads to microeconomic inefficiencies.

d. Altered tax liabilities. Many provisions of the tax code do not take into account the effect of inflation. Hence, inflation can alter individuals’ and firms’ tax liabilities, often in ways that lawmakers did not intend.

e. The inconvenience of a changing price level. It is inconvenient to live in a world with a changing price level. Money is the yardstick with which we measure economic transactions. Money is a less

useful measure when its value is always changing.

There is an additional cost to unexpected inflation:

f. Arbitrary redistributions of wealth. Unexpected inflation arbitrarily redistributes wealth among individuals. For example, if inflation is higher than expected, debtors gain and creditors lose. Also, people with fixed pensions are hurt because their dollars buy fewer goods.

Chapter 6

QUESTIONS FOR REVIEW:2,3

2. Describe the difference between frictional unemployment and structural unemployment. Frictional unemployment is the unemployment caused by the time it takes to match workers and jobs. Finding an appropriate job takes time because the flow of information about job candidates and job vacancies is not instantaneous. Because different jobs require different skills and pay different wages, unemployed workers may not accept the first job offer they receive.

In contrast, structural unemployment is the unemployment resulting from wage rigidity and job rationing. These workers are unemployed not because they are actively searching for a job that best suits their skills (as in the case of frictional unemployment), but because at the prevailing real wage the supply of labor exceeds the demand.

If the wage does not adjust to clear the labor market, then these workers must wait for

jobs to become available. Structural unemployment thus arises because firms fail to

reduce wages despite an excess supply of labor.

3. Give three explanations the real wage may remain above the level that equilibrates labor supply and labor demand.

The real wage may remain above the level that equilibrates labor supply and labor demand because of minimum wage laws, the monopoly power of unions, and efficiency wages.

Minimum-wage laws cause wage rigidity when they prevent wages from falling to equilibrium levels. Although most workers are paid a wage above the minimum level, for some workers, especially the unskilled and inexperienced, the minimum wage raises their wage above the equilibrium level. It therefore reduces the quantity of their labor that firms demand, and an excess supply of workers—that is, unemployment—results.

The monopoly power of unions causes wage rigidity because the wages of unionized workers are determined not by the equilibrium of supply and demand but by collective bargaining between union leaders and firm management. The wage agreement often raises the wage above the equilibrium level and allows the firm to decide how many workers to employ. These high wages cause firms to hire fewer workers than at the market-clearing wage, so structural unemployment increases.

Efficiency-wage theories suggest that high wages make workers more productive. The influence of wages on worker efficiency may explain why firms do not cut wages despite an excess supply of labor. Even though a wage reduction decreases the firm’s wage bill, it may also lower worker productivity and therefore the firm’s profits.

Chapter 7

QUESTIONS FOR REVIEW:1,4

1.In the Solow model, how does the saving rate affect the steady-state level of income? How does it affect the steady-state rate of growth?

In the Solow growth model, a high saving rate leads to a large steady-state capital stock and a high level of steady-state output. A low saving rate leads to a small steadystate capital stock and a low level of steady-state output. Higher saving leads to faster economic growth only in the short run. An increase

in the saving rate raises growth until the economy reaches the new steady state. That is, if the economy maintains a high saving rate, it will also maintain a large capital stock and a high level of output, but it will not maintain a high rate of growth forever. In the steady state, the growth rate of output (or income) is independent of the saving rate.

4.In the Solow model, how does the rate of population growth affect the steady-state level of income? How does it affect the steady-state rate of growth?

Chapter 8

QUESTIONS FOR REVIEW:1,2,6

1. In the Solow model, what determines the steady-state rate of growth of income per worker? In the Solow model, we find that only technological progress can affect the steady-state rate of growth in income per worker. Growth in the capital stock (through high saving) has no effect on the

steady-state growth rate of income per worker; neither does population growth. But technological progress can lead to sustained growth.

2.In the steady state of the Solow model, at what rate does output per person grow? At what rate does capital per person grow? How does this compare with the U.S. experience?

In the steady state, output per person in the Solow model grows at the rate of technological progress g. Capital per person also grows at rate g. Note that this implies that output and capital per effective worker are constant in steady state. In the U.S. data, output and capital per worker have both grown at about 2 percent per year for the past half-century.

6.How does endogenous growth theory explain persistent growth without the assumption of exogenous technological progress? How does this differ from the Solow model? Endogenous growth theories attempt to explain the rate of technological progress by explaining the decisions that determine the creation of knowledge through research and development. By contrast, the

Solow model simply took this rate as exogenous. In the Solow model, the saving rate affects growth temporarily, but diminishing returns to capital eventually force the economy to approach a steady state in which growth depends only on exogenous technological progress. By contrast, many endogenous growth models in essence assume that there are constant (rather than diminishing) returns to capital, interpreted to include knowledge. Hence, changes in the saving rate can lead to persistent growth. Chapter 9

QUESTIONS FOR REVIEW:3,4

3.Why does the aggregate demand curve slope downward?

Aggregate demand is the relation between the quantity of output demanded and the aggregate price level. To understand why the aggregate demand curve slopes downward, we need to develop a theory

of aggregate demand. One simple theory of aggregate demand is based on the quantity theory of money. Write the quantity equation in terms of the supply and demand for real money balances as

M/P = (M/P)d = kY,

where k = 1/V. This equation tells us that for any fixed money supply M, a negative relationship exists between the price level P and output Y, assuming that velocity V is fixed: the higher the price level, the lower the level of real balances and, therefore, the lower the quantity of goods and services demanded Y. In other words, the aggregate demand curve slopes downward, as in Figure 9–1.

One way to understand this negative relationship between the price level and output is to note the link between money and transactions. If we assume that V is constant, then the money supply determines the dollar value of all transactions:

MV = PY.

An increase in the price level implies that each transaction requires more dollars. For the above identity to hold with constant velocity, the quantity of transactions and thus the quantity of goods and services purchased Y must fall.

4.Explain the impact of an increase in the money supply in the short run and in the long run. If the Fed increases the money supply, then the aggregate demand curve shifts outward, as in Figure

9–2. In the short run, prices are sticky, so the economy moves along the short-run aggregate supply curve from point A to point B. Output rises above its natural rate level Y: the economy is in a boom.

The high demand, however, eventually causes wages and prices to increase. This gradual increase in prices moves the economy along the new aggregate demand curve AD2 to point C. At the new long-run equilibrium, output is at its natural-rate level, but prices are higher than they were in the initial equilibrium at point A.

Chapter 10

QUESTIONS FOR REVIEW:2, 3,4

https://www.wendangku.net/doc/9613140824.html,e the theory of liquidity preference to explain why an increase in the money supply lowers the interest rate. What does this explanation assume about the price level?

The theory of liquidity preference explains how the supply and demand for real money balances determine the interest rate. A simple version of this theory assumes that there is a fixed supply of money, which the Fed chooses. The price level P is also fixed in this model, so that the supply of real balances is fixed. The demand for real money balances depends on the interest rate, which is the opportunity cost of holding money. At a high interest rate, people hold less money because the opportunity cost is high. By holding money, they forgo the interest on interest-bearing deposits. In contrast, at a low interest rate, people hold more money because the opportunity cost is low. Figure 10–1 graphs the supply and demand for real money balances. Based on this theory of liquid ity preference, the interest rate adjusts to equilibrate the supply and demand for real money balances.

Why does an increase in the money supply lower the interest rate? Consider what happens when the Fed increases the money supply from M1 to M2. Because the price level P is fixed, this increase in the money supply shifts the supply of real money balances M/P to the right, as in Figure 10–2.

The interest rate must adjust to equilibrate supply and demand. At the old interest rate r1, supply exceeds demand. People holding the excess supply of money try to convert some of it into

interest-bearing bank deposits or bonds. Banks and bond issuers, who prefer to pay lower interest rates, respond to this excess supply of money by lowering the interest rate. The interest rate falls until a new

equilibrium is reached at r2.

3.Why does the IS curve slope downward?

The IS curve summarizes the relationship between the interest rate and the level of income that arises from equilibrium in the market for goods and services. Investment is negatively related to the interest rate. As illustrated in Figure 10–3, if the interest rate rises from r1 to r2, the level of planned investment falls from I1 to I2.

The Keynesian cross tells us that a reduction in planned investment shifts the expenditure function downward and reduces national income, as in Figure 10–4(A).

Thus, as shown in Figure 10–4(B), a higher interest rate results in a lower level of national income: the IS curve slopes downward.

4.Why does the LM curve slope upward?

The LM curve summarizes the relationship between the level of income and the interest rate that arises from equilibrium in the market for real money balances. It tells us the interest rate that equilibrates the money market for any given level of income. The theory of liquidity preference explains why the LM curve slopes upward. This theory assumes that the demand for real money balances L(r, Y) depends negatively on the interest rate (because the interest rate is the opportunity cost of holding money) and positively on the level of income. The price level is fixed in the short run, so the Fed determines the fixed supply of real money balances M/P. As illustrated in Figure 10–5(A), the interest rate

equilibrates the supply and demand for real money balances for a given level of income.

宏观经济学高鸿业第五版标准答案完整版

第十二章国民收入核算 １．宏观经济学和微观经济学有什么联系和区别?为什么有些经济活动从微观看是合理的,有效的,而从宏观看却是不合理的，无效的? 解答：两者之间的区别在于： (1）研究的对象不同。微观经济学研究组成整体经济的单个经济主体的最优化行为,而宏观经济学研究一国整体经济的运行规律和宏观经济政策。 （2)解决的问题不同。微观经济学要解决资源配置问题,而宏观经济学要解决资源利用问题。 (3)中心理论不同。微观经济学的中心理论是价格理论,所有的分析都是围绕价格机制的运行展开的，而宏观经济学的中心理论是国民收入(产出)理论，所有的分析都是围绕国民收入(产出）的决定展开的。 （４）研究方法不同。微观经济学采用的是个量分析方法，而宏观经济学采用的是总量分析方法。 两者之间的联系主要表现在： (1)相互补充。经济学研究的目的是实现社会经济福利的最大化。为此，既要实现资源的最优配置,又要实现资源的充分利用。微观经济学是在假设资源得到充分利用的前提下研究资源如何实现最优配置的问题，而宏观经济学是在假设资源已经实现最优配置的前提下研究如何充分利用这些资源。它们共同构成经济学的基本框架。 (2)微观经济学和宏观经济学都以实证分析作为主要的分析和研究方法。 （3)微观经济学是宏观经济学的基础。当代宏观经济学越来越重视微观基础的研究，即将宏观经济分析建立在微观经济主体行为分析的基础上。 由于微观经济学和宏观经济学分析问题的角度不同，分析方法也不同,因此有些经济活动从微观看是合理的、有效的,而从宏观看是不合理的、无效的。例如,在经济生活中,某个厂商降低工资,从该企业的角度看，成本低了，市场竞争力强了，但是如果所有厂商都降低工资,则上面降低工资的那个厂商的竞争力就不会增强，而且职工整体工资收入降低以后，整个社会的消费以及有效需求也会降低。同样，一个人或者一个家庭实行节约,可以增加家庭财富,但是如果大家都节约，社会需求就会降低,生产和就业就会受到影响。 2.举例说明最终产品和中间产品的区别不是根据产品的物质属性而是根据产品是否进入最终使用者手中。 解答:在国民收入核算中，一件产品究竟是中间产品还是最终产品，不能根据产品的物质属性来加以区别,而只能根据产品是否进入最终使用者手中这一点来加以区别。例如，我们不能根据产品的物质属性来判断面粉和面包究竟是最终产品还是中间产品。看起来，面粉一定是中间产品,面包一定是最终产品。其实不然。如果面粉为面包厂所购买,则面粉是中间产品,如果面粉为家庭主妇所购买，则是最终产品。同样，如果面包由面包商店卖给消费者,则此面包是最终产品，但如果面包由生产厂出售给面包商店，则它还属于中间产品。 3.举例说明经济中流量和存量的联系和区别,财富和收入是流量还是存量? 解答：存量指某一时点上存在的某种经济变量的数值,其大小没有时间维度，而流量是指一定时期内发生的某种经济变量的数值，其大小有时间维度;但是二者也有联系，流量来自存量，又归于存量,存量由流量累积而成。拿财富与收入来说，财富是存量，收入是流量。 4．为什么人们从公司债券中得到的利息应计入GDP,而从政府公债中得到的利息不计入GDP？ 解答：购买公司债券实际上是借钱给公司用,公司将从人们手中借到的钱用作生产经营，比方说购买机器设备，这样这笔钱就提供了生产性服务，可被认为创造了价值，因而公司债券的利息可看作是资本这一要素提供生产性服务的报酬或收入，因此要计入GＤP。可是政府的公债利息被看作是转移支付,因为政府借的债不一定用于生产经营，而往往是用于弥补财政赤字。政府公债利息常常被看作是用从纳税人身上取得的收入来加以支付的，因而习惯上被看作是转移支付。 ５.为什么人们购买债券和股票从个人来说可算是投资,但在经济学上不算是投资? 解答：经济学上所讲的投资是增加或替换资本资产的支出,即建造新厂房、购买新机器设备等行为，而人们购买债券和股票只是一种证券交易活动，并不是实际的生产经营活动。人们购买债券或股票,是一种产权转移活动,因而不属于经济学意义的投资活动,也不能计入GDP。公司从人们手里取得了出售债券或股票的货币资金再去购买厂房或机器设备,才算投资活动。 6.为什么政府给公务员发工资要计入ＧＤＰ，而给灾区或困难人群发的救济金不计入GDＰ？ 解答:政府给公务员发工资要计入GDＰ是因为公务员提供了为社会工作的服务,政府给他们的工资就是购买他们的服务，因此属于政府购买,而政府给灾区或困难人群发的救济金不计入GDP，并不是因为灾区或困难人群提供了服务，创造了收入,相反，是因为他们发生了经济困难,丧失了生活来源才给予其救济的,因此这部分救济金属于政府转移支付。政府转移支付只是简单地通过税收(包括社会保险税)把收入从一个人或一个组织手中转移到另一个人或另一个组织手中，并没有相应的货物或劳务的交换发生。所以政府转移支付和政府购买虽都属政府支出,但前者不计入ＧDP而后者计入ＧＤP。 7．为什么企业向政府缴纳的间接税(如营业税)也计入GDＰ？ 解答：间接税虽由出售产品的厂商缴纳,但它是加到产品价格上作为产品价格的构成部分由购买者负担的。间接税虽然不形成要素所有者收入,而是政府的收入,但毕竟是购买商品的家庭或厂商的支出,因此，为了使支出法计得的GDＰ和收入法计得的GDP相一致，必须把间接税加到收入方面计入GDP。举例说，某人购买一件上衣支出1０0美元，这100美元以支出形式计入ＧDＰ。实际上,若这件上衣价格中含有5美元的营业税和3美元的折旧，则作为要素收入的只有92美元。因而,从收入法计算GＤP时,应把这5美元和3美元一起加到９２美元中作为收入计入ＧＤP。 8.下列项目是否计入GDＰ，为什么? （1）政府转移支付；(2）购买一辆用过的卡车； (3）购买普通股票；(４)购买一块地产。 解答:(１)政府转移支付不计入ＧDP，因为政府转移支付只是简单地通过税收(包括社会保险税)把收入从一个人或一个组织手中转移到另一个人或另一个组织手中,并没有相应的货物或劳务的交换发生。例如,政府给残疾人发放救济金，并不是因为残疾人创造了收入；相反，是因为他丧失了创造收入的能力从而失去了生活来源才给予其救济的。 (2）购买用过的卡车不计入GDP，因为卡车生产时已经计入GＤP了，当然买卖这辆卡车的交易手续费是计入GDＰ的。

《宏观经济学》复习资料整理(高鸿业版)

《宏观经济学》复习提纲 各章复习大纲： 第一章国民收入核算： GDP概念、核算方法、其他国民经济各相关概念及计算、名义GDP和实际GDP、投资—储蓄恒等； 第二章简单国民收入决定理论：均衡产出、消费曲线和储蓄曲线、两（三）部门经济收入的决定、各部门的乘数计算； 第三章产品市场和货币市场的一般均衡：IS-LM模型（推导、斜率、移动、计算等）、投资函数、利率的决定、货币需求动机； 第四章宏观经济政策分析：财政政策效果、货币政策效果、挤出效应、政策的混合使用； 第五章宏观经济政策实践：宏观经济政策目标、失业的相关概念、奥肯定律、财政政策工具、货币政策工具、货币与存款创造乘数； 第六章总需求—总供给模型：AD-AS模型及计算；财政政策和货币政策对总需求曲线的影响； 第七章失业与通货膨胀：通货膨胀的原因、经济效应、菲利普斯曲线及其应用；第八章开放经济：汇率、对外贸易 第九章经济增长与经济周期：经济增长与经济发展、经济周期 第十章宏观经济学理论演变：凯恩斯学派与货币主义学派的假设、主要观点（其中第八-十章内容约占3-4%,以选择和判断为主）

第12章 国民收入核算 一、国内生产总值 1、测量一个宏观经济运行情况的重要指标有国民收入以及增长、失业率、物价水平及其变动。 2、国内生产总值（GDP ）：指经济社会（即一国或一地区）在一定时期内（通常是一年）运用生产要素所生产的全部最终产品和劳务的价值总和。GDP 的计算遵循国土原则。 3、名义GDP 与实际GDP （1）名义GDP ：用生产物品和劳务的当年价格计算的全部最终产品的市场价值。 （2）实际GDP ：用从前某一年作为基期价格计算出来的全部最终产品市场价值。 （3）GDP 折算指数=————，用来反映物价变动程度 4、国民生产总值（GNP ）：指某国国民所拥有的全部生产要素在一定时期内所生 二、国民收入核算方法 三、国民收入其他衡量指标及计算 1、国内生产净值（NDP ）：指一个国家一年内新增加的产值，即在国内生产总值扣除了折旧（当期资本耗费）之后的产值。 NDP=GDP-折旧 2、国民收入（NI ）：一个国家一年内用于生产的各种生产要素所得到的全部收入。 NI=NDP-间接税和企业转移支付+政府补助金 =工资+利润+利息+租金 名义GDP 实际GDP 区分 最终产品和劳务：指的是由最终使用者购买的产品和劳务，不投入生产。 中间产品和劳务：是指作为其他产品和劳务生产过程中的投入品存在的产品和劳务。 【注：判断一件产品或劳务究竟是最终的还是中间的，取决于谁购买了它以及用于什么目的】

《曼昆—宏观经济学》 重点总结

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Homework 4 1. The Mundell–Fleming model takes the world interest rate r* as an exogenous variable. Let’s consider what happens when this variable changes. a. What might cause the world interest rate to rise? The Mundell–Fleming model takes the world interest rate r* as an exogenous variable. However, there is no reason to expect the world interest rate to be constant. In the closed-economy model of Chapter 3, the equilibrium of saving and investment determines the real interest rate. In an open economy in the long run, the world real interest rate is the rate that equilibrates world saving and world investment demand. Anything that reduces world saving or increases world investment demand increases the world interest rate. In addition, in the short run with fixed prices, anything that increases the worldwide demand for goods or reduces the worldwide supply of money causes the world interest rate to rise. b. In the Mundell–Fleming model with a floating exchange rate, what happens to aggregate income, the exchange rate, and the trade balance when the world interest rate rises? Figure 12–16 shows the effect of an increase in the world interest rate under floating exchange rates. Both the IS* and the LM* curves shift. The IS* curve shifts to the left, because the higher interest rate causes investment I(r*) to fall. The LM* curve shifts to the right because the higher interest rate reduces money demand. Since the supply of real balances M/P is fixed, the higher interest rate leads to an excess supply of real balances. To restore equilibrium in the money market, income must rise; this increases the demand for money until there is no longer an excess supply. Intuitively, when the world interest rate rises, capital outflow will increase as the interest rate in the small country adjusts to the new higher level of the world interest rate. The increase in capital outflow causes the exchange rate to fall, causing net exports and hence output to increase, which increases money demand.

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GDP C I G NX =+++ 这里必须强调投资和我们平时所讲的投资是有区别的，这里投资主要是购买用于生产物品的物品，也就购买生产资料，包括机械、建筑等。 在第二十三章最后一节里，曼昆阐述了三个非常重要的概念：名义GDP 、真实GDP 和GDP 平减指数。概而言之，名义GDP 是以当年价格乘以生产数量而得到的数字；真实GDP 主要排除了价格的影响，以一个年份的价格作为不变价格，乘以当年生产数量从而得到真实GDP ，主要反映生产数量的变化，可以更好的衡量一国的经济福利；GDP 平减指数是用来衡量价格变动的指标，GDP 100GDP GDP =?名义平减指数真实。需要指出， GDP 平减指数可以用来测量通货膨胀的一个指标，这就要通过以下公式计算GDP 平减指数的变动： 100%GDP GDP GDP GDP -=?第二年平减指数第一年平减指数平减指数第一年平减指数 当然，GDP 并不是完美的，在环境、收入分配等环节上是无法通过GDP 反映的。虽然如今很多经济学家都在呼吁绿色GDP 或者GDP 重新改革，而目前我们国家还有太多需要发展，经济水平还是偏下，在东部也许可以重新衡量GDP 统计，在中西部则还是弊大于利。GDP 衡量体系一旦变化，这些地区将面临更加不利发展的经济环境。这就好比教导三岁小孩要先天下之忧而忧，他又真能做到如此？经济就像人生，经历波澜壮阔、起起伏伏之后才能把握住最美、最好的一幕，让一个还没有发展的经济区域妄谈环境、低碳必会引来因噎废食。 接着在二十四章里，曼昆谈论了消费物价指数（consumer prize index ）。这是一个非常有大众缘的指数，无论是国内还是国外媒体CPI 的确是一个抢眼的词汇。首先，曼昆介绍了消费物价指数含义和计算方法。所谓的消费物价指数，是消费者购买一篮子商品和劳务所支付的总价格。根据各种商品在消费者消费中重要程度高低赋予一定的权重，计算出当年总支出。再确定某一个基期价格，利用下面公式： 消费者物价指数=（当期总物价/基期总物价）×100 然后通过计算相邻年份或月份CPI 的变动率，也就是通货膨胀率就可以衡量一定时期内价格变动的比率。当然，消费者物价指数有其固有的弱点。消费者物价指数反映不了消费偏向导致的消费结构的变化，所以一揽子商品必须适时而变。消费者物价指数无法反映新产品和质量的变动。 如消费者物价指数，GDP 平减指数也是反映通货膨胀一个指数，而且这两个指数可以相互配合来确定当年物价变动状况。而两者又存在一些差别。从对象上看，GDP 平减指数反映的是所有生产的物品和劳务，而CPI 仅仅是消费者购买的物品和劳务，这就导致石油价格上涨时非产油国的CPI 与GDP 平减指数有较大的背离。从统计结构来看，CPI 主要是固定的一篮子商品，而GDP 平减指数主要是根据当年生产情况来确定。 在第二部分，曼昆讨论了美元价格比较和真实、名义利率。因为经济运行中会出现通货膨胀和通货紧缩，20年前的人民币肯定不是今天的人民币，这就需用一定换算公式来进行比较：当今的货币数量=T 年前的货币数量×（T 年前的物价水平/当今的物价水平）。而真实利率=名义利率－通货膨胀率。 总体上讲，这一篇介绍了两种最基本的数字，一个是反映生产水平的GDP ，一个是反映物价水平的CPI ，这也是构成宏观经济运行检测非常重要的两个指标。 第九篇中介绍了长期中经济真实情况。在第二十五章里，作者论述了GDP 增长的决定因素。一般来说，一个经济体按照a%的速度增长，那么在（70/a ）年份时就可以实现翻番。国与国之间经济上存在的巨大差异，增长率起到很大的作用。生产率是决定增长率非常重要

宏观经济学习题及参考答案

第一章宏观经济学导论习题及参考答案 一、习题 1．简释下列概念： 宏观经济学、经济增长、经济周期、失业、充分就业、通货膨胀、GDP、GNP、名义价值、实际价值、流量、存量、萨伊定律、古典宏观经济模型、凯恩斯革命。 2．宏观经济学的创始人是（）。 A．斯密；B．李嘉图； C．凯恩斯；D．萨缪尔森。 3．宏观经济学的中心理论是（）。 A．价格决定理论；B．工资决定理论； C．国民收入决定理论；D．汇率决定理论。 4．下列各项中除哪一项外，均被认为是宏观经济的“疾病”（）。 A．高失业；B．滞胀； C．通货膨胀；D．价格稳定。 5．表示一国居民在一定时期内生产的所有最终产品和劳务 的市场价值的总量指标是（）。 A．国民生产总值；B．国内生产总值； C．名义国内生产总值；D．实际国内生产总值。 6．一国国内在一定时期内生产的所有最终产品和劳务的市 场价值根据价格变化调整后的数值被称为（）。 A．国民生产总值；B．实际国内生产总值； C．名义国内生产总值；D．潜在国内生产总值。 7．实际GDP等于（）。 A．价格水平/名义GDP；B．名义GDP/价格水平×100； C．名义GDP乘以价格水平；D．价格水平乘以潜在GDP。 8．下列各项中哪一个属于流量？（）。 A．国内生产总值；B．国民债务； C．现有住房数量；D．失业人数。 9．存量是（）。 A．某个时点现存的经济量值；B．某个时点上的流动价值； C．流量的固体等价物；D．某个时期内发生的经济量值。 10. 下列各项中哪一个属于存量？（）。 A. 国内生产总值； B. 投资； C. 失业人数； D. 人均收入。 11．古典宏观经济理论认为，利息率的灵活性使得（）。 A．储蓄大于投资；B．储蓄等于投资； C．储蓄小于投资；D．上述情况均可能存在。 12．古典宏观经济理论认为，实现充分就业的原因是（）。 A．政府管制；B．名义工资刚性； C．名义工资灵活性；D．货币供给适度。 13．根据古典宏观经济理论，价格水平降低导致下述哪一变量减少（）。 A．产出；C．就业； C．名义工资；D．实际工资。 14．在凯恩斯看来，造成资本主义经济萧条的根源是（）。 A．有效需求不足；B．资源短缺； C．技术落后；C．微观效率低下。

宏观经济学【高鸿业第五版全】

宏观经济学复习重点 一、名词解释。 1.国内生产总值（GDP ）：是在一个国家领土范围内，一定时期内所生产的全部最终产品和劳务的市场价值的总和。P428 2.均衡产出：和总需求相等的产出称为均衡产出或收入。P446 3.乘数：国民收入变动量与引起这种变动量的最初注入量的比例。P462 4.投资乘数：指收入的变化与带来这种变化的投资支出的变化的比率。P463 5.产品市场均衡：是指产品市场上供给与总需求相等。P486 6.IS 曲线：一条反映利率和收入间相互关系的曲线。这条曲线上任何一点都代表一定的利率和收入的组合，在这样的组合下，投资和储蓄都是相等的，即i=s ，从而产品市场是均衡的，因此这条曲线称为IS 曲线。P487 7. 凯恩斯流动性偏好陷阱：凯恩斯认为当利率极低时，人们为了防范证券市场中的风险，将所有的有价证券全部换成货币，同时不论获得多少货币收入，都愿意持有在手中，这就是流动性陷阱。P495 8.LM 曲线：满足货币市场的均衡条件下的收入y 与利率r 的关系的曲线称为LM 曲线。P500 9.财政政策：是指政府变动税收和支出以便影响总需求进而影响就业和国民收入的政策。P517 10.货币政策：是指政府货币当局即中央银行通过银行体系变动货币供给量来调节总需求的政策。P518 11. 挤出效应：指政府支出增加（如某一数量的公共支出）而对私人消费和投资的抵减。P523 12. 自动稳定器：也称内在稳定器，是指经济系统本身存在的一种会减少各种干扰对国民收入冲击的机制，能够在经济繁荣时自动抑制通胀，在经济衰退时自动减轻萧条，无须政府采取任何行动。P546 13.经济滞胀：又称萧条膨胀或膨胀衰退，即大量失业和严重通货膨胀同时存在的情况。P572—576 14.通货膨胀：指一般物价水平在比较长的时间内以较高幅度持续上涨的一种经济现象。P612—616 15.菲利普斯曲线：反映通货膨胀率与失业率之间关系的曲线。短期曲线表现为一条向右下方倾斜的曲线，表示在短期里通货膨胀率与失业率存在一种替代关系。长期曲线表现为一条垂直的曲线，表示在长期里失业率与通货膨胀率之间，是一种独立的关系。P625—632 16.自发消费：与收入变动无关的消费。即使收入为0，也需要的消费。 17.经济增长：经济增长：指一国一定时期内生产的产品和提供的劳务总量的扩大。表现为GDP 或者人均GDP 的增长。 18.中间产品：指购买后不是用于最终消费，而是用于转卖或进一步加工的商品和劳务。 19.资本深化：人均储蓄超过资本广化或人均储蓄在与补充原有资本折旧和配备新工人后）而导致人均资本上升的情况。 1.消费的决定：家庭的消费支出主要由什么因素决定？ 答：主要由家庭的当年收入决定。某个家庭当年收入越高，其消费支出就会越大。这主要从消费函数c=a+by 中可以看出。 其他影响因素还有：1、家庭财富拥有量，财富越多则当年的消费就越高。2、家庭成员一生中的总收入，一生中的总收入越大则任何一年的消费量都会增大。3、周围人群的消费水平，周围人群消费水平越高，则本家庭受影响越大，看齐的心理使得本家庭的当年消费越大。 2.平衡预算乘数在哪些情况下等于1？ 答：平衡预算指政府预算收入等于预算支出。在国民收入决定理论中，平衡预算指政府支出G 来自于等量的税收T （即G=T ）。政府支出G 和税收T 对国民收入的影响作用可以通过乘数来反映。 在四部门经济中， 要使平衡预算乘数＝1，应当是0,0==γP t ,即是在只有消费者、企业和政府的三部门经济中没有内生变量的税收。或者在消费者、企业、政府和国际市场构成的四部门经济中，没有内生变量的税收和进口。 3.经济学家认为轻微的通货膨胀对经济扩张有利，试说明理由？ 答：坚持这种观点的经济学家认为，由于在经济活动过程中，为节约交易成本，劳资双方喜欢签订长期劳动合同关系，原材料供求中喜欢签订长期购销合同，由于这种长期劳动合同和原材料供求合同存在，使厂商工资成本和原材料成本相对稳定，而通胀又使产品价格上升，从而使使厂商的实际利润增加，刺激厂商增加投资，扩大生产，全社会产量和就业都增加。 4、试说明图中A 、B 两点的经济涵义。 r%