《宏观经济学》答案(布兰查德版)

时间：2025-04-09

《宏观经济学》答案(布兰查德版)

Chapter 1

1. a.

True. b.

True. c.

False. d.

True. e.

False. f.

False.

2. a. 1960-98 1997-99

-------------------

US 3.1% 3.8%

EU 3.1% 2.5%

Japan 5.8%-1.0%

While the US growth rate higher than its long-run average over the period, the growth rate has slowed relative to long-run averages in both the EU and Japan over the last few years.

b. Sometimes the economy is growing quickly, other times it is growing slowly or even contracting. The last few years of rapid growth in the US do not imply that the long-run average rate of growth has increased back to its pre-1974 level.

3. a. The data in the web page are: Real Gross Domestic Product,Real Final Sales of Domestic Product, and Real Gross National Product, Quarterly, 1959-96[Percent change from preceding quarter]

--------------------------------------------------------

Gross Final sales Gross

domestic of domestic national

product product product

-------------------------------------------------------

1959: I 8.6 9.2 8.6

II11.27.311.1

III-0.3 5.3-0.2

IV 1.7-1.3 1.9

1996: I 1.8 2.6 1.8

II 6.0 5.2 5.7

III 1.00.20.6

IV 4.3 4.5 4.9

--------------------------------------------------------

suggesting that recessions typically last two-three quarters and that the most severe recessions in that period were the recessions of 1974-75 and 1981-82.

b. Percentage Changes in:

Output Growth

Inflation

1968: 4.7 4.4

I7.5 4.7

II7.1 4.1

III 3.0 3.8

IV 1.8 5.5

1969: 3.0 4.7

I 6.2 3.8

II 1.0 5.0

《宏观经济学》答案(布兰查德版)

III 2.3 5.8

IV-2.0 5.1

1970: 0.1 5.3

I-0.7 6.0

II0.6 5.7

III 3.7 3.4

IV-3.9 5.4

1971: 3.3 5.2

I11.3 6.4

II 2.3 5.5

III 2.6 4.4

IV 1.1 3.3

If history simply repeats itself, the United States might have a short recession (lasting perhaps one

year) accompanied by an acceleration in the rate of inflation by about one percentage point.

4. a. Banking services, business services.

b. Not only has the relative demand for skilled workers increased but the industries where

this effect is the strongest are making up a greater fraction of the economy.

5. 1. Low unemployment might lead to an increase in inflation.

2. Although measurement error certainly contributes to the measured slowdown in

growth, there are other issues to consider as well, including the productivity of new

research and accumulation of new capital.

3. Although labor market rigidities may be important, it is also important to consider that

these rigidities may not be excessive, and that high unemployment may arise from flawed macroeconomic policies.

4. Although there were serious problems with regard to the management of Asian financial systems, it is important to consider the possibility that the flight of foreign capital from these

countries worsened the situation by causing a severe stock market crash and exchange rate depreciation.

5. Although the Euro will remove obstacles to free trade between European countries,

each country will be forced to give up its own monetary policy.

* 6. a. From Chapter 1: US output 1997=$8b; Ch ina output 1996=$.84b. Note that China’s output

in 1997 is $(.84)*(1.09) b. Equating output for some time t in the future:

8*(1.03)t=(.84*1.09)*(1.09)t8/(.84*1.09)=(1.09/1.03)t8.737=(1.058)t

t =ln(8.737)/ln(1.058) H38yrs

b. From Chapter 1: US output/worker in 1997=$29,800; China output/per worker in

1996=$700

29.8*(1.03)t=(.7*1.09)*(1.09)t

t H65 years

Chapter 2

1. a. False.

b. Uncertain: real or nominal

GDP. c. True.

d. Tru

e. False. The level of the CPI means nothing. Its rate of change tells us about inflation.

f. Uncertain. Which index is better depends on what we are trying to measure—inflation

faced

《宏观经济学》答案(布兰查德版)

by consumers or by the economy as a whole.

2. a. +$100; Personal Consumption

Expenditures b. nochange:intermediategood

c. +$200 million; Gross PrivateDomesticFixedInvestment

d. +$200 million; Net Exports

e. no change: the jet was already counted when it was produced, i.e., presumably when

Delta(or some other airline) bought it new as an investment.

*3. a. Measured GDP increases by $10+$12=$22.

b. True GDP should increase by much less than $22 because by working for an extra hour,

you are no longer producing the work of cooking within the house. Since cooking within the house is a final service, it should count as part of GDP. Unfortunately, it is hard to measure the value of work within the home, which is why measured GDP does not include it.

4. a. $1,000,000 the value of the silver necklaces.

b. 1st Stage:$300,000.2ndStage:$1,000,00-$300,000=$700,000.

GDP: $300,000+$700,000=$1,000,000.

c. Wages: $200,000 + $250,000=$450,000.

Profits: ($300,000-$200,000)+($1,000,000-$250,000-300,000)

=$100,000+$450,000=$550,000.

GDP:$450,000+$550,000=$1,000,000.

5. a. 1998 GDP: 10*$2,000+4*$1,000+1000*$1=$25,000

1999 GDP: 12*$3,000+6*$500+1000*$1=$40,000Nominal GDP has increased by 60%.

b. 1998 real (1998) GDP: $25,000

1999 real (1998) GDP: 12*$2,000+6*$1,000+1000*$1=$31,000

Real (1998) GDP has increased by 24%.