中級宏觀經(jīng)濟學(Macroeconomics)考試試題答案重點

1、2003-2004學年第二學期中級宏觀經(jīng)濟學(Macroeconomics考試試題答案(經(jīng)濟試驗班021、022I .Choose the best answers (210 x1. B2. A3. C4. B5. C6. A7. B8. C9. C 10.Dn . Explain the following terms. (20 points1. En doge nous variables經(jīng)濟模型中要解釋的變量。Exoge nous variables模型給出作為既定的變量。2. Me nu costs企業(yè)因通貨膨脹改變價格的成本。shoe-leather costs為減少持有貨幣的損失而

2、發(fā)生的成本。3. GDP deflator名義GDP/實際GDP,是相對于基年商品和勞務價格的那一年的 商品和勞務價格。CPI：即消費價格指數(shù)，是相對于某個基年一籃子物品與勞務價格的同樣一籃子 物品與勞務的現(xiàn)期價格。4. Adaptive expectation人們根據(jù)過去的經(jīng)驗或數(shù)據(jù)來預測未來。ratio nal expectatio n人們盡可能地利用所有可以獲得地信息，包括關(guān)于現(xiàn)在政府 政策地信息預測未來。5. Real excha nge rate兩國物品的相對價格。nominal excha nge rate兩國通貨的相對價格。川.Answer the following quest

3、ions by drawing or calculating. (10' X41.We want to con sider the effects of a tax cut whe n the LM* curve depe nds on disposable in come in stead of in come: M/P = Lr, Y -T.A tax cut now shifts both the IS* and the LM* curves. Figure 122 shows the case of floating exchange rates. The IS* curve

4、shifts to the right, from IS to IS . The LM* curve shifts to the left, however, from LM to LM .We know that real balances M/P are fixed in the short run, while the interest rate is fixed at the level of the world in terest rate r*. Disposable in come is the on ly variable that can adjust to bring th

5、e money market into equilibrium: hence, the LM* equation determ ines the level of disposable in come. If taxes T fall, the n in come Y must also fall to keep disposable in come fixed. In Figure 1222, we move from an orig inal equilibrium at point A to a new equilibrium at point B. In come falls by t

6、he amount of the tax cut, and the excha nge rate appreciates. If there are fixed excha nge rates, theIS* curve still shifts to the right; but the in itial shift in the LM* curve no Ion ger matters. That is, the upward pressure on the exchange rate causes the central bank to sell dollars and buy fore

7、ig n excha nge; this in creases the money supply and shifts the LM* curve to the right, as show n in Figure 13. The new equilibrium, at point B, is at the intersection of the new IS* curve, IS , and the horizontal line at the level of the fixed excha nge rate. There is no differe nee betwee n this c

8、ase and the sta ndard case where money dema nd depe nds on in come.Figure 12222. a將生產(chǎn)函數(shù)兩邊同時除以效率工人，則有:zs；%叢；Figure 12-22(4.04.06.04.0k L E K L E L E K L E Y y = ? =?=? =b .s=0.25S =5% n=2% g=3%入經(jīng)濟穩(wěn)定的條件38.15.275.01(*84.15.2*6.45.2*1.025.0(3/23/24.03/54.0 ? =-=5= =+=? y s c k y k kg n k f s Sc.當g變?yōu)?%時,

9、有:63.11225*4.31225*12.025.0(3/24.03/54.0 ? =? ? =?+=? k y k kk kg n k f s這種變化導致了效率工人的人均資本量減少,效率工人的人均產(chǎn)量下 降;但總產(chǎn)出會增加。3.The aggregate dema nd curve represe nts the n egative relati on ship betwee n the price level and the level of n ati onal in come. In Chapter 9, we looked at a simplified theory of agg

10、regate dema nd based on the qua ntity theory .In this chapter, we explore how the IS -_M model provides a more complete theory of aggregate dema nd. We can see why the aggregate dema nd curve slopes dow nward by con sideri ng what happe ns in the IS -_M model when the price level changes. As Figure

11、1 1(A illustrates, for a given money supply, an in crease in the price level from P 1 to P 2 shifts the LM curve upward because real bala nces decli ne; this reduces in come from Y 1 to Y 2. Theaggregate dema nd curve in Figure 1 (B summarizes this relatio nship betwee n the price level and in come

12、that results from the IS -LM model.t i iif r iupwih冰7農(nóng)八和甲皿It.The £jjiigiik Drwwidluni4.a. Recall from Chapter 4 that we can express the quantity equation in terms of perce ntage cha nges: % in M + % in V = % in P + % in Y.If we assume that velocity is constant, then the % in V = 0. Therefore, %

13、 in M = % in P + % in Y.We know that in the short run, the price level is fixed. This implies that the % in P =0. Therefore,% in M = % in Y.Based on this equati on, we con clude that in the short run a 5-perce nt reducti on in the money supply leads to a 5-perce nt reducti on in output. This is show

14、 n in Figure9-9.In the long run we know that prices are flexible and the economy returns to its natural rate of output. This implies that in the long run, the % in Y = 0. Therefore, % in M=% in P. Based on this equati on, we con elude that in the long run a 5-perce nt reducti on in the money supply

15、leads to a 5-perce nt reduct ion in the price level, as show n in Figure 9-9.b.Okun ' s law refers to the negative relatio nship that exists between unemployment and real GDP. Okun ' s law can be summarized by the equation:% in Real GDP = 3% -2 ? in Unemployment Rate. That is, output moves in the opposite directi on from un employme nt, with a ratio of 2 to 1. In the short run, whe n Y falls 5 perce nt, un employme nt in creases 2-1/2 perce nt. I n the long run, both output and unemploy