chap2中级宏观经济学答案 华中科技大学

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中级宏观经济学配套练习及答案

中级宏观经济学配套练习及答案

第二讲 配套习题及答案1.若效用函数现为:γγ-=1),(l c l c u (10<<γ)其他条件与实例中给出的相同,试分别求分散经济与计划经济的最优解。

计划者目标函数为:}{max 1,γγ-l c lc ..t s αα--==10)(l h zk y c 代约束条件进目标函数,可以得到无约束的最大化问题:{}γγαα---110])([max l l h zk l一阶条件为:)(l FOC γγααγγγγααγγγγα-------=--l l h k z l l h k z )1()()()1()1(011)1(0求解可得:αγγ--=*1)1(h l αγαγ--=*1)1(h n 代*n 进生产函数可得:αααγαγ-**⎪⎪⎭⎫ ⎝⎛--==101)1(h zk y c企业利润函数为:wn k r n zk -+-=-)1(1ααπ企业利润最大化的一阶条件为:0)1(11=+-=∂∂--r n k z kαααπ 0)1(=--=∂∂-w n k z nαααπ 利用这两个一阶条件可以取得均衡的价格解,为:αααγαγ-*⎥⎦⎤⎢⎣⎡--=1)1(0h zk w11)1(110-⎥⎦⎤⎢⎣⎡--=--*αααγαγαh k z r2.假设行为人的效用函数如下:)ln()ln(l c U +=,其中c 是行为人的消费,l 是行为人每天用于闲暇的时间。

行为人每天的时间除了用于闲暇,就是用于工作,但他既可以为自己工作也可以为别人工作。

他为自己工作时的产出函数为5.0)(4s n y =,其中s n 为用于自己工作的时间。

如果他为别人工作,每小时得到的报酬是工资,记为w (当然是用消费品衡量的)。

试写出该行为人的最优化问题,并求解之。

)ln(){ln(max ,,l c sn l c + ..t s w n l n c s s )24()(45.0--+=代约束条件进目标函数,分别对l 和s n 两个变量求一阶导数,并令其为零,有:)(l FOC lw n l n w s s 1)24()(45.0=--+ )(n FOC 0)24()(4)(25.05.0=--+--wn l n w n s s s 求解上述联立方程,可得:w n s 4=*2212w l +=* 421285.0--+=*w w wc 3.考虑一个具有如下代表性行为人的模型。

(NEW)张延《中级宏观经济学》课后习题详解

(NEW)张延《中级宏观经济学》课后习题详解

目 录第一篇 宏观经济学导论第一章 宏观经济学概述第二章 宏观经济指标的度量第二篇 总需求分析第三章 产品市场均衡:收入-支出模型第四章 产品市场和货币市场的同时均衡:IS-LM模型第五章 宏观经济政策第三篇 总供给分析第六章 对劳动力市场状况的度量第七章 凯恩斯主义的总供给曲线第八章 新古典主义的总供给曲线第四篇 长期经济增长理论第九章 索洛经济增长模型第一篇 宏观经济学导论第一章 宏观经济学概述说明:作为教材的第一章,本章系统地介绍了宏观经济学的发展史、研究对象和研究方法。

考虑到宏观经济背景非常重要,建议读者予以重视。

本章无相关习题。

第二章 宏观经济指标的度量1假设某农业国只生产两种产品:橘子和香蕉。

利用下表的资料,计算2002年和2009年该国实际GDP的变化,但要以2002年的价格来计算。

根据本题的结果证明:被用来计算实际GDP的价格的确影响所计算的增长率,但一般来说这种影响不是很大。

答:(1)以2002年的价格为基期价格:2002年该国的实际GDP为:GDP2002=50×0.22+15×0.2=14;2009年该国的实际GDP为:GDP2009=60×0.22+20×0.2=17.2;实际GDP增长率为:(17.2-14)/14×100%=22.9%。

(2)以2009年的价格为基期价格:2002年该国的实际GDP为:GDP2002=50×0.25+15×0.3=17;2009年该国的实际GDP为:GDP2009=60×0.25+20×0.3=21;实际GDP增长率为:(21-17)/17×100%=23.5%。

由22.9%与23.5%只相差0.6%,由此可见,用来计算实际GDP的价格的确影响所计算的增长率,但一般来说这种影响不是很大。

2根据国民收入核算恒等式说明:(1)税收的增加(同时转移支付保持不变)一定意味着在净出口、政府购买或储蓄-投资差额上的变化。

华中科技大学宏微观经济学考试试题

华中科技大学宏微观经济学考试试题

华中科技大学20年宏微观经济学考试试题一名词解释1消费者剩余消费者在购买一定数量的某种商品时愿意支付的总价格和实际支付的总价格之间的差额.消费者剩余可以用几何图形表示.即用消费者需求曲线以下,市场价格线以上的面积来表示.消费者剩余也可以用数学公式来表示.令反需求函数为,价格为使得消费者需求量为,则消费者需求为.2 纳什均衡在一个纳什均衡里,任何一个参与者都不会改变自己的策略,如果其他参与者不改变策略.3 准租金供给暂时固定的生产要素服务的支付,即固定生产要素的收益,也可以表示为固定总成本和经济利润.准租金=总收益-可变成本=固定不变成本+经济利润.4 支出法用支出法衡量需要包括消费,投资,政府购买以与进出口这些内容.公式:GDP=C+I+G+(X-M),其中消费C包括耐用消费品,非耐用消费品和劳务,但不包括个人建筑住宅的支付.投资I是指增加或更换资本资产的支出.公式中的I为总投资,而净投资=I-重置投资,重置投资指的是当年以前资本产品的折旧消耗.G为政府购买物品和劳务的支出,转移支付不计入.X-M为净出口,可正可负.5 资本边际效率MEC是一种贴现率,这种贴现率正好是一项资本物品在使用期内各预期收益的现值之和等于这项资本品的供给价格或者重置成本.6 结构性通货膨胀在没有需求拉动和成本推动的情况下,只是由于经济结构因素的变动,也会出现一般价格水平的持续上涨,这种价格水平的上涨叫做结构性通货膨胀.二简答题1假设一个生产函数的边际产量在要素增加到一个程度后下降为负值,它的等产量曲线有什么特点?答:等产量曲线是在技术水平不变的条件下生产同一产量的两种生产要素投入量的所有不同组合的轨迹.等产量曲线的斜率是边际技术替代率的绝对值.,在维持产量不变的前提下,由增加劳动投入量所带来的总产量的增加量和由减少资本来所带来的总产量的减少量必定是相等的.即必有:,由边际技术替代率的定义公式得:,可见,边际技术替代率可以表示两要素的边际产量之比.要素的边际产量为负值,那么边际技术替代率也为负值,等产量曲线斜率为正值.这意味着如果厂商使用更多的劳动,他就不得不使用更多的资本以保持在等产量曲线上,如果使用更多的劳动而资本量不变,产量水平将下降.所以说,当要素的边际产量为负值时,等产量曲线特点是正斜率的,形状是向右上方倾斜的.2垄断厂商的收益与需求价格弹性有什么关系?答:由于垄断市场上只有一个厂商,所以厂商所面临的需求曲线即市场需求曲线,是一条向右下方倾斜的曲线.边际收益,价格和需求的价格弹性有如下关系:设P=P(Q),则TR(Q)=P(Q)Q,MR(Q)=P+QdP/dQ=P(1+QdPPdQ),所以,MR=P(1-1/Ed),从以上证明中我们可以看出三者之间的关系:(1)当Ed>1时,MR>0,则厂商的总收益与商品销售量成同方向变动,与商品的价格反方向变动;(2)当Ed<1时,MR<0,则厂商的总收益与商品销售量成反方向变动,与商品的价格同方向变动;(3)当Ed=1时,MR=0,则厂商的总收益不会受商品销售量变化的影响,且TR此时达到极大值.3什么是财政政策?我国实行积极财政政策的意义何在?答:(1)财政政策是指政府变动税收和支出以达到影响总需求进而影响就业和国民收入的政策.财政政策的供给主要有两类:支出类:变动政府购买支出,改变政府转移支付.收入类:变动税收和公债.(2)财政政策作用机制:政府购买构成总需求一部分,作用作为直接.对国民收入影响程度取决于政府购买乘数.政府转移支付通过影响个人可支配收入作用于总需求,对国民收入影响程度取决于转移支付乘数.政府税收作用途径有两条:一是影响个人可支配收入,二是税率高低将改变国民生产总值的边际消费倾向,税收对国民收入的影响程度取决于税收乘数.(3)积极的财政政策市政府购买支出增加,增支减税.(4)我国实行积极的财政政策有助于拉动内需,使IS曲线上移,引起AD曲线的上移,引起产出水平增加,利率升高,财政政策关键要克服挤出效应.4简述IS-LM模型的内容和意义.答:(1)IS-LM模型:IS曲线在经济中的含义是均衡国民收入与利率间存在反方向变化的关系,IS曲线是描述满足产品市场均衡条件的利率和收入关系的曲线.引起IS线移动的几个原因为乘数性因素,自主性因素,政府弱实行膨胀性财政政策会引起IS线向右上方平移,若实行紧缩性财政政策,IS线向左下方平移.LM曲线是描述满足货币市场均衡条件的利率与收入关系的曲线.引起LM曲线移动的两个因素为货币需求对收入与利率的敏感系数,实际货币供给量.IS-LM分析:商品市场和货币市场的一般均衡:在IS曲线上有一系列使商品市场均衡的利率与收入组合点,在LM线上有一系列使货币市场均衡的利率与收入组合点,IS线与LM线交于一点,在该点上商品市场和货币市场同时达到均衡.两个市场的失衡与调整:当收入与利率组合点位于IS曲线左下方,投资大于储蓄,有超额产品需求,从而导致收入上升,组合点会右移;当收入与利率组合点位于IS曲线右上方,有超额产品供给,从而导致收入下降,组合点左移;当收入与利率组合点位于LM线左上方时,货币需求小雨货币供给,有超额货币供给,从而导致利率下降,提高货币需求,组合点会下移;当收入与利率组合点位于LM线右下方时,有超额货币需求,从而导致利率上升,抑制货币需求,组合点会上升.两个市场一般均衡的调整:若线和线移动时,均衡收入和均衡利率都会发生变动.(2)IS-LM模型的含义:西方学者用IS-LM模型作为分析财政政策和货币政策与其效果的简明而直观的工具.由于在分析IS曲线与LM曲线的移动时,会由移动看出财政政策与货币政策的效果.三计算题1设一个消费者是用两种商品(X,Y),效用函数为,商品价格元,元,(1)设他的收入为40元,求消费者均衡.(2)求恩格尔曲线.解:(1)效用最大化问题:,使得,对效用函数做对数变换,最大化问题等价于,使得,当,,时,有,使得.设,则,,得出(2)由(1)的最大化条件知,代入约束条件得:X的恩格尔曲线:.Y的恩格尔曲线:.2设有两个厂商,生产同质产品,生产成本均为C(Q)=10Q.市场需求P=15-0.01Q.两个厂商独立决定产量.(1)求两个厂商的反应函数.(2)求厂商的均衡产量与利润.解:设两个厂商分别为A和B,其产量为QA,QB,利润为,市场总需求量,市场反需求函数为(1)厂商A利润,其利润最大化的一阶条件:,所以厂商A的反应函数为:.类似可得,厂商B的利润:,利润最大化一阶条件:,所以厂商B的反应函数为:.(2)联立厂商A,B的反应函数,有市场均衡价格为均衡利润:3假设货币需求为L=0.2Y-10R,货币供给为200亿元,C=60+0.8Yd,T=100亿元,I=150亿元,G=100亿元.(1)求IS和LM方程.(2)求均衡收入,利率和投资.(3)政府支出从100亿元增加到120亿元,均衡收入,利率和投资有何变化?(4)是否存在挤出效应?解:(1)IS:LM:(2)均衡条件:(3)当时,IS:.LM:.易知,均衡收入上升(由1150上升至1250),利率上升(由3上升至5),投资不变.(4)由于政府增支所引起的利率上升没有导致投资的下降,故无挤出效应.四论述题1论述并推导生产和交换的帕累托最优条件.答:(1)交换的帕累托最优条件:在交换的埃奇渥斯盒状图中,如果某一点处于两个消费者的无差异曲线的切点上时,则该点就是帕累托最优状态,也成为交换的帕累托最优状态.所有无差异曲线的切点的轨迹所构成的曲线成为交换的契约线,他表示两种产品在两个消费者之间的所有最优分配的集合.交换的帕累托最优条件就是要求任何两种商品对于任何同时使用这两种商品的消费者来说其边际替代率相等,用公式表示就是:.(2)生产的帕累托最优条件:在生产的埃奇渥斯盒状图中,如果某一点处于两个生产者的等产量曲线的切点上时,则该点就是帕累托最优状态,也成为生产的帕累托最优状态.所有等产量曲线的切点的轨迹所构成的曲线称为生产的契约线,他表示两种生产要素在两个生产者之间的所有最优分配的集合.生产的帕累托最优条件就是要求任何两种生产要素对于任何同时使用这两种生产要素生产的生产者来说其边际技术替代率相等.用公式表示就是:.(3)交换和生产的帕累托最优条件:生产契约曲线上每一点表示了一定量的投入要素在最优配置时所能生产的一对最优的产出.在将这些产出描绘在一个坐标轴上就可以得到生产可能性曲线.生产可能性曲线有两个特点:一是他向右下方倾斜,二是他向右上方凸出.一般将生产可能性曲线右上方的区域称为生产不可能性区域,而把生产可能性曲线左下方的区域称为生产无效率区域.交换和生产的帕累托最友条件就是要求任何两种产品或商品之间的边际转换率与边际替代率相等,用公式表示就是:.2论述凯恩斯的就业理论.你认为凯恩斯理论对中国经济是否具有指导或借鉴意义,并加以分析.答:(1)凯恩斯就业理论的基本观点主要由以下几个方面:1,资本主义在没有政府干预的情况下,不能通过市场作用的自动调节达到充分就业.2,充分就业其含义是指在某以货币工资水平下,所有愿意工作的人都实现了就业.3,失业有摩擦失业,自愿失业和非自愿失业三种不同类型,摩擦失业时只有与劳动市场上出现了暂时的或偶然的供需失调而造成的失业,他不是真正对劳动力需求不足造成的,因而不是真正的失业.自愿失业是指由于种种原因,工人拒绝接受现行工资水平或劳动条件而造成的失业.非自愿失业指那种虽然劳动者愿意按现行货币工资水平受雇于资本家,但却仍然得不到工作的失业现象,这时真正意义上的失业.4,社会的总就业量决定与总需求量.5,有效需求包括两部分,即消费需求和投资需求.(2)对凯恩斯就业理论的进步性评价:1,他认为资本主义并不是完美无缺的,否定了萨伊定律,打破了“供给会自动创造自身需求”的深化.凯恩斯认为市场机制的调节是有缺陷的,他难以做到使经济在充分就业水平上的均衡.2,他继承了传统经济理论中关于自愿失业和摩擦失业的思想,作为补充和发展,他提出了非自愿失业的概念.3,他主张用积极的有规划的政府干预取代消极放任的自由经营,并把保持充分就业,消除经济危机和充分发挥经济潜力作为政府经济政策的目标,开创了政府维持充分就业,干预经济活动的理论先河.(3)凯恩斯就业理论的局限性:1,凯恩斯就业理论的产生,其直接目的就是挽救资本主义制度的命运,寻求对付经济危机的办法,他只是在资本主义生产关系表现出来的表面联系上徘徊,而不是从资本主义生产关系本身去探索.2,凯恩斯的就业理论构筑在三个基本心理规律基础之上.心理上的消费秦想使消费的增长低于收入的增长,引起消费需求不足;心理上对资产未来收益的预期和心理上的灵活偏好使预期时利润率出现偏低的趋势而与利息率不相适应,因此引起投资需求不足.这种把失业的原因归结为无法确定的心理因素的做法是不科学的.3,凯恩斯的就业理论实施的有效性是有条件的,即只有当经济处于对内有失业,对外有顺差时才是有效的.4,凯恩斯本人对经济短期和长期的分析常常是混乱的.他的一些经济方案和措施也主要是针对现状的.(4)凯恩斯就业理论对解决我国经济问题如失业问题具有很有效的指导与借鉴意义,如下:1,充分就业并非人人就业,失业现象是市场经济发展中的常态,应转化传统的就业观念,充分就业应理解为合理就业或适度失业,也就是说在充分就业状态下还存在着一定程度的失业,这也是社会主义市场经济发展过程中的必然现象.2,对失业问题市场不能自发调节,政府必须干预,要把就业目标纳入政府宏观调控之中.3,根据凯恩斯就业理论,就业问题存在或日益严重,主要是由于宏观经济运行中总供给大于总需求,造成有效需求不足的结果.解决这一问题主要通过刺激消费需求和投资需求.4,加快失业救济和保险体系的建设,应积极制定失业救济有关法规,规范政府的失业救济行为,并且认真研究并借鉴国外的失业保险制度,结合我国实际,建立并完善我国的失业保险制度.5,发展经济以增加就业,创造基业机会,是解决失业问题的根本.解决失业增加就业,根本的是靠发展经济,创造更多的就业机会,这是治本的措施.11 / 11。

中级宏观经济学(Macroeconomics)考试试题答案

中级宏观经济学(Macroeconomics)考试试题答案

2003-2004学年第二学期中级宏观经济学(Macroeconomics)考试试题答案(经济试验班021、022)Ⅰ.Choose the best answers (2'×10)1.B2.A3.C4.B5.C6.A7.B8.C9.C 10.DⅡ. Explain the following terms. (20 points)1.Endogenous variables: 经济模型中要解释的变量。

Exogenous variables:模型给出作为既定的变量。

2. Menu costs:企业因通货膨胀改变价格的成本。

shoe-leather costs:为减少持有货币的损失而发生的成本。

3. GDP deflator :名义GDP/实际GDP,是相对于基年商品和劳务价格的那一年的商品和劳务价格。

CPI:即消费价格指数,是相对于某个基年一篮子物品与劳务价格的同样一篮子物品与劳务的现期价格。

4. Adaptive expectation :人们根据过去的经验或数据来预测未来。

rational expectation:人们尽可能地利用所有可以获得地信息,包括关于现在政府政策地信息预测未来。

5. Real exchange rate :两国物品的相对价格。

nominal exchange rate:两国通货的相对价格。

Ⅲ.Answer the following questions by drawing or calculating. (10’ ×4) 1.We want to consider the effects of a tax cut when the LM* curve depends on disposable income instead of income: M/P = L[r, Y –T].A tax cut now shifts both the IS* and the LM* curves. Figure 12–22 shows the case of floating exchange rates. The IS* curve 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 interest rate r*. Disposable income is the only variable that can adjust to bring the money market into equilibrium: hence, the LM* equation determines the level of disposable income. If taxes T fall, then income Y must also fall to keep disposable income fixed. In Figure 12–22, we move from an original equilibrium at point A to a new equilibrium at point B. Income falls by the amount of the tax cut, and the exchange rate appreciates. If there are fixed exchange rates, theIS* curve still shifts to the right; but the initial shift in the LM* curve no longer matters. That is, the upward pressure on the exchange rate causes the central bank to sell dollars and buy foreign exchange; this increases the money supply and shifts the LM* curve to the right, as shown in Figure 12–23. 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 exchange rate. There is no difference between this case and the standard case where money demand depends on income.2. a.将生产函数两边同时除以效率工人,则有:()4.04.06.04.0k L E K L E L E K L E Y y =⎪⎭⎫ ⎝⎛⨯=⨯⨯=⨯=b .s=0.25 δ=5% n=2% g=3%; 带入经济稳定的条件:38.15.275.0)1(*84.15.2*6.45.2*1.025.0)()(3/23/24.03/54.0≈⨯=-=≈==≈==⋅++=⋅y s c k y k kk kg n k f s δc.当g 变为5%时,有: 63.11225*4.31225*12.025.0)()(3/24.03/54.0≈⎪⎭⎫ ⎝⎛==≈⎪⎭⎫ ⎝⎛==⋅++=⋅k y k kk kg n k f s δ 这种变化导致了效率工人的人均资本量减少,效率工人的人均产量下降;但总产出会增加。

最新chap2中级宏观经济学答案--华中科技大学资料

最新chap2中级宏观经济学答案--华中科技大学资料

Microeconomics, 4e (Perloff)Chapter 2 Supply and Demand2.1 Demand1) According to the Law of Demand, the demand curve for a good willA) shift leftward when the price of the good increases.B) shift rightward when the price of the good increases.C) slope downward.D) slope upward.Answer: CTopic: Demand2) An increase in the price of pork will lead toA) a movement up along the demand curve.B) a movement down along the demand curve.C) a rightward shift of the demand curve.D) a leftward shift of the demand curve.Answer: ATopic: Demand3) An increase in consumer incomes will lead toA) a rightward shift of the demand curve for plasma TVs.B) a movement upward along the demand curve for plasma TVs.C) a rightward shift of the supply curve for plasma TVs.D) no change of the demand curve for plasma TVs.Answer: ATopic: Demand4) Consider the demand function Qd = 150 - 2P. The effects of other determinants of Qd is reflected inA) the intercept of the function.B) the slope of the function.C) neither the slope nor the intercept of the function.D) in both the slope and the intercept of the function.Answer: ATopic: Demand5) Consider the demand functions: A) Qd = 250 - 2P B) Qd = 300 - 3P.Which of the demand functions reflects a higher level of consumer incomes?A) AB) BC) A and B reflect the same consumer incomes.D) More information is needed.Answer: DTopic: Demand6) Holding all other factors constant, consumers demand more of a good theA) higher its price.B) lower its price.C) steeper the downward slope of the demand curve.D) steeper the upward slope of the demand curve.Answer: BTopic: Demand7) As the price of a good increases, the change in the quantity demanded can be shown byA) shifting the demand curve leftward.B) shifting the demand curve rightward.C) moving down along the same demand curve.D) moving up along the same demand curve.Answer: DTopic: Demand8) If the price of automobiles were to increase substantially, the demand curve for gasoline would most likelyA) shift leftward.B) shift rightward.C) become flatter.D) become steeper.Answer: ATopic: Demand9) If the price of automobiles were to decrease substantially, the demand curve for automobiles would most likelyA) shift rightward.B) shift leftward.C) remain unchanged.D) become steeper.Answer: CTopic: Demand10) If the price of automobiles were to decrease substantially, the demand curve for public transportation would most likelyA) shift rightward.B) shift leftward.C) remain unchanged.D) remain unchanged while quantity demanded would change.Answer: BTopic: Demand11) An increase in the demand curve for orange juice would be illustrated as aA) leftward shift of the demand curve.B) rightward shift of the demand curve.C) movement up along the demand curve.D) movement down along the demand curve.Answer: BTopic: Demand12) The term "inverse demand curve" refers toA) a demand curve that slopes upward.B) expressing the demand curve in terms of price as a function of quantity.C) the demand for "inverses."D) the difference between quantity demanded and supplied at each price.Answer: BTopic: Demand13) If the demand for oranges is written as Q = 100 - 5p, then the inverse demand function isA) Q = 5p - 100.B) Q = 20 - .2p.C) p = 20 - 5Q.D) p = 20 - .2Q.Answer: DTopic: Demand14) To determine the total demand for all consumers, sum the quantity each consumer demandsA) at a given price.B) at all prices and then sum this amount across all consumers.C) Both A and B will generate the same total demand.D) None of the above.Answer: ATopic: Demand15) The above figure shows a graph of the market for pizzas in a large town. No pizzas will be demanded unless price is less thanA) $0.B) $5.C) $12.D) $14.Answer: DTopic: DemandFor the following, please answer "True" or "False" and explain why.16) If a good is not produced, then there is no demand for it.Answer: False. The demand for a product is independent of its supply. It is possible that people want to buy some of the product but at prices that are below what sellers would require to begin production.Topic: Demand17) Because people prefer name-brand pain-relieving drugs over store-brand pain-relieving drugs, demand curves do not slope downward for pain-relieving drugs.Answer: False. Demand curves slope downward assuming all other factors do not change. Consumers may view brand-name drugs to be of higher quality than store-brand drugs, and therefore the demand curve for brand-name drugs lies to the right of the demand curve for store-brand drugs.Topic: Demand18) The quantity of a good that consumers demand depends only on the price of the good.Answer: False. The quantity of a good demanded depends on many factors including: price, consumers' incomes, and the price of related goods.Topic: Demand19) During the winter of 1997-1998, the northeastern United States experienced warmer than usual conditions. The price of home heating oil was less than it was during the previous winter, but people bought less home heating oil. This contradicts the Law of Demand.Answer: False. The statement claiming a contradiction confuses a change in quantity demanded with a change in the demand curve. The law of demand refers to movements along a given demand curve. The mild weather caused a leftward shift of the demand curve.Topic: Demand20) Suppose an individual inverse demand curve is given as P = 2 - 1/2 q i, where q i is the quantity demanded by individual i. There are 50 individual consumers with this identical, individual inverse demand curve. Solve for the market demand curve.Answer: Solve for the individual, regular demand curve, q i = 4 - 2P. Multiply the individual demand curve by 50 to yield q D = 200 - 100P.Topic: Demand21) Suppose the market demand curve for pizza can be expressed as QD = 100 - 2P + 3Pb, where QD is the quantity of pizza demanded, P is the price of a pizza, and Pb is the price of a burrito. What is the slope of this demand function, and what information does the slope provide?Answer: The slope is -2. The slope tells us how a change in the price of pizzas affects the quantity of pizzas demanded. An increase in the price of pizzas by $1 will result in a decrease of the quantity demanded by 2 pizzas.Topic: Demand22) Suppose the demand for a particular product can be expressed as Q = 100/p. Calculate the total amount spent on this good when p = 10, 20, and 50. Can you make a generalization about the mathematical form of this demand curve and consumer behavior in this market?Answer: In all cases, total expenditure equals 100 (since p * Q = 100). In general, a nonlinear demand curve of the form Q = A/p means that consumers wish to spend a total of A on this good regardless of its price. Topic: Demand2.2 Supply1) Suppose the demand curve for a good shifts rightward, causing the equilibrium price to increase. This increase in the price of the good results inA) a rightward shift of the supply curve.B) an increase in quantity supplied.C) a leftward shift of the supply curve.D) a downward movement along the supply curve.Answer: BTopic: Supply2) A rise in the oil price willA) shift the supply curve to the left.B) shift the supply curve to the right.C) leave the supply curve unchanged.D) not enough information.Answer: ATopic: Supply3) The above figure shows a graph of the market for pizzas in a large town. No pizzas will be supplied unless the price is aboveA) $0.B) $5.C) $12.D) $14.Answer: BTopic: Supply4) Supply curvesA) slope upward.B) slope downward.C) are horizontal.D) can have many shapes.Answer: DTopic: Supply5) Suppose there are 100 identical firms in the rag industry, and each firm is willing to supply 10 rags at any price. The market supply curve will be a(n)A) vertical line where Q = 10.B) vertical line where Q = 100.C) vertical line where Q = 1000.D) horizontal line where Q = 1000.Answer: CTopic: Supply6) The expression "increase in quantity supplied" is illustrated graphically as aA) leftward shift in the supply curve.B) rightward shift in the supply curve.C) movement up along the supply curve.D) movement down along the supply curve.Answer: CTopic: Supply7) If the supply curve of a product changes so that sellers are now willing to sell 2 additional units at any given price, the supply curve willA) shift leftward by 2 units.B) shift rightward by 2 units.C) shift vertically up by 2 units.D) shift vertically down by 2 units.Answer: BTopic: Supply8) The market supply curve is found byA) horizontally summing all individual supply curves.B) vertically summing all individual supply curves.C) Either A or B above since they both give the same answer.D) None of the above.Answer: ATopic: Supply9) Technological innovation in the production of computers has led toA) a decrease in the quantity demanded for computers.B) a rightward shift of the supply curve for computers.C) a decrease in the quantity supplied of computers.D) None of the above.Answer: BTopic: Supply10) Restricting imports tends toA) shift the demand curve for the product to the left.B) shift the demand curve for the product to the right.C) change the shape of the supply curve.D) increase the quantity supplied of a product.Answer: CTopic: SupplyFor the following, please answer "True" or "False" and explain why.11) The Law of Supply insures that supply curves slope upward.Answer: False. There is no Law of Supply. Supply curves can take multiple shapes and thus don't have to be upward-sloping. (p. 22)Topic: Supply12) Suppose the following information is known about a market:1. Sellers will not sell at all below a price of $2.2. At a price of $10, any given seller will sell 10 units.3. There are 100 identical sellers in the market.Assuming a linear supply curve, use this information to derive the market supply curve.Answer: First, Q = 100q since all firms are identical. This gives two points: (p = 2, Q = 0) and (p = 10, Q = 1000). From the first point, it is known that p = 2 + bQ. When Q = 1000, 10 = 2 + b(1000). Solving for b yields b = .008. Rearranging to solve for Q yields: Q = -250 + 125p or P= 2 + .008Q.Topic: Supply2.3 Market Equilibrium1) Equilibrium is defined as a situation in whichA) neither buyers nor sellers want to change their behavior.B) no government regulations exist.C) demand curves are perfectly horizontal.D) suppliers will supply any amount that buyers wish to buy.Answer: ATopic: Market Equilibrium2) Once an equilibrium is achieved, it can persist indefinitely becauseA) shocks that shift the demand curve or the supply curve cannot occur.B) shocks to the demand curve are always exactly offset by shocks to the supply curve.C) the government never intervenes in markets at equilibrium.D) in the absence of supply/demand shocks no one applies pressure to change the price. Answer: DTopic: Market Equilibrium3) If price is initially above the equilibrium level,A) the supply curve will shift rightward.B) the supply curve will shift leftward.C) excess supply exists.D) all firms can sell as much as they want.Answer: CTopic: Market Equilibrium4) A competitive equilibrium is described byA) a price only.B) a quantity only.C) the excess supply minus the excess demand.D) a price and a quantity.Answer: DTopic: Market Equilibrium5) The above figure shows a graph of the market for pizzas in a large town. At a price of $14, there will beA) no pizzas supplied.B) equilibrium.C) excess supply.D) excess demand.Answer: CTopic: Market Equilibrium6) The above figure shows a graph of the market for pizzas in a large town. At a price of $5, there will beA) excess demand.B) excess supply.C) equilibrium.D) zero demand.Answer: ATopic: Market Equilibrium7) The above figure shows a graph of the market for pizzas in a large town. What are the equilibrium price and quantity?A) p = 8, Q = 60B) p = 60, Q = 8C) p = 14, Q = 140D) p = 5, Q = 60Answer: ATopic: Market Equilibrium8) The above figure shows a graph of a market for pizzas in a large town. At a price of $7, what is the amount of excess demand?A) 0; there is excess supply at $7.B) 20 unitsC) 30 unitsD) 10 unitsAnswer: CTopic: Market Equilibrium9) The above figure shows a graph of a market for pizzas in a large town. At a price of $10, the marketA) is not in equilibrium.B) has excess supply.C) does not have excess demand.D) All of the above.Answer: DTopic: Market Equilibrium10) The above figure shows three different supply-and-demand graphs. Which graph best represents the market for vacations on Mars?A) Graph AB) Graph BC) Graph CD) None of the above.Answer: ATopic: Market Equilibrium11) The above figure shows three different supply-and-demand graphs. Which graph best represents the market for workers at your nearest fast-food restaurant?A) Graph AB) Graph BC) Graph CD) None of the above.Answer: CTopic: Market Equilibrium12) The above figure shows three different supply-and-demand graphs. Which graph best represents the market for the air we are currently breathing?A) Graph AB) Graph BC) Graph CD) None of the above.Answer: BTopic: Market Equilibrium13) After tickets for a major sporting event are purchased at the official box office price, a market often develops whereby these tickets sell at prices well above the official box office price. Which of the following scenarios would NOT be able to explain this result?A) The official price was below equilibrium from the moment the tickets were available.B) Increased publicity causes the demand curve for the event to shift rightward.C) The event was not a sellout.D) Not everyone who wanted a ticket was able to buy one at the box office.Answer: CTopic: Market EquilibriumFor the following, please answer "True" or "False" and explain why.14) When a market is in disequilibrium consumers and producers change their behavior. As a result the market reaches equilibrium.Answer: True. For example, when a shortage exists at a given price consumer bid up the price and firms increase production until the equilibrium is reached.Topic: Market Equilibrium15) Suppose the market for potatoes can be expressed as follows:Supply: Q S = -20 + 10pDemand: Q D = 400 - 20pSolve for the equilibrium price and quantity.Answer: Equate the RHS of the supply equation to the RHS of the demand equation: -20 + 10p = 400 - 20p. Rearrange: 30p = 420 or p = 14. Plug this into either S or D to get Q: Q = 400 - 20(14) = 120.Topic: Market Equilibrium16) Use supply-and-demand graphs to explain why parking is free at the suburban shopping mall but one typically must pay to park when shopping downtown.Answer:See the above figure. At the suburban shopping mall, the only cars typically on the lot belong to shoppers and employees. Mall lots are usually built to be large enough to handle peak crowds. For the relevant quantities, the supply curve is horizontal at a price of zero. As a result, the quantity demanded never exceeds the amount that is provided freely. Downtown, shoppers compete with a larger quantity and greater variety of drivers for parking spaces. The quantity that is available freely is not enough to accommodate all of those who wish to park downtown.Topic: Market Equilibrium17) Explain why the equilibrium price is called the market clearing price.Answer: At the equilibrium price, sellers want to sell the exact amount consumers want to buy. There is no excess demand or excess supply. The market is exactly cleared of all goods.Topic: Market Equilibrium2.4 Shocking the Equilibrium1) From the 1970s through the 1990s, the relative price of a college education has increased greatly. During the same time period, college enrollment has also increased. This evidence suggests that during this time periodA) the demand curve for a college education has shifted leftward.B) the demand curve for a college education has shifted rightward.C) the supply curve for a college education has shifted leftward.D) the supply curve for a college education has shifted rightward.Answer: BTopic: Shocking the Equilibrium2) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for coffee after severe weather destroys a large portion of the coffee crop?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: CTopic: Shocking the Equilibrium3) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for tea after severe weather destroys a large portion of the coffee crop?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: ATopic: Shocking the Equilibrium4) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for non-dairy coffee creamer after severe weather destroys a large portion of the coffee crop?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: DTopic: Shocking the Equilibrium5) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for computers after technological advances in making computers occur?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: BTopic: Shocking the Equilibrium6) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for computer manuals after technological advances in making computers occur?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: ATopic: Shocking the Equilibrium7) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for typewriters after technological advances in computerized word-processing software occur?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: DTopic: Shocking the Equilibrium8) Suppose a market were currently at equilibrium. A rightward shift of the demand curve would causeA) an increase in price but a decrease in quantity.B) a decrease in price but an increase in quantity.C) an increase in both price and quantity.D) a decrease in both price and quantity.Answer: CTopic: Shocking the Equilibrium9) Suppose a market were currently at equilibrium. A rightward shift of the supply curve would cause a(n)A) increase in price but a decrease in quantity.B) decrease in price but an increase in quantity.C) increase in both price and quantity.D) decrease in both price and quantity.Answer: BTopic: Shocking the Equilibrium10) A rightward shift of the demand curve will lead to a(n)A) increase in equilibrium price.B) excess demand at the old equilibrium price.C) increase in quantity supplied.D) All of the above.Answer: DTopic: Shocking the Equilibrium11) A rightward shift of the supply curve will lead to a(n)A) decrease in equilibrium price.B) excess supply at the old equilibrium price.C) increase in quantity demanded.D) All of the above.Answer: DTopic: Shocking the Equilibrium12) If the demand curve is vertical a rightward shift of the supply curve will lead toA) an increase in quantity supplied.B) an increase in quantity demanded.C) a decrease in quantity demanded.D) an increase in price.Answer: DTopic: Shocking the Equilibrium13) When import restrictions are placed on a good, and as a result the price of the good increases, the demand curve for that good willA) shift rightward.B) shift leftward.C) become steeper.D) be unaffected.Answer: DTopic: Shocking the Equilibrium14) When two goods are substitutes, a shock that raises the price of one good causes the price of the other good toA) remain unchanged.B) decrease.C) increase.D) change in an unpredictable manner.Answer: CTopic: Shocking the Equilibrium15) A drought in the Midwest will raise the price of wheat because of aA) leftward shift in the supply curve.B) rightward shift in the supply curve.C) leftward shift in the demand curve.D) rightward shift in the demand curve.Answer: ATopic: Shocking the Equilibrium16) If pizza and tacos are substitutes, a decrease in the price of tacos would lead to aA) decrease in the demand curve for pizza.B) decrease in the quantity demanded of pizza.C) decrease in the price of pizza.D) All of the above.Answer: DTopic: Shocking the EquilibriumFor the following, please answer "True" or "False" and explain why.17) During a mild winter, the price of home heating oil is expected to be less than it would be during a normal winter.Answer: True. During a mild winter, people do not need to operate their furnace as often as in a normal winter. The demand for home heating oil lies to the left of where it would be under normal weather conditions. As a result, the price of oil falls.Topic: Shocking the Equilibrium18) What happens to the equilibrium price and quantity of coffee when there is a leftward shift of the supply curve for tea? Explain.Answer:See the above figure. The leftward shift in the supply of tea causes tea prices to increase. Since coffee and tea are substitutes, the demand for coffee increases, resulting in higher coffee prices.Topic: Shocking the Equilibrium19) Suppose there is a linear downward-sloping demand curve and a linear upward-sloping supply curve fora good. The price of a substitute good increases and the price of an input to production also increases. Graph the original demand and supply curves, and the curves after the substitute good and input prices increase. How will the equilibrium price change after the substitute and input prices increase?Answer:See the above figure. The new demand curve will be to the right of the original demand curve and the new supply curve will be to the left of the original supply curve. The equilibrium price will increase. The change in equilibrium quantity cannot be determined and will depend on the relative magnitude of the supply and demand shifts.Topic: Shocking the Equilibrium2.5 Effects of Government Interventions1) Government actions can cause aA) shift in the supply curve.B) shift in the demand curve.C) reaction from firms in other countries.D) All of the above.Answer: DTopic: Effects of Government Intervention2) Municipalities that have adopted the policy of "rent control" typically set the rentals on certain apartments well below equilibrium. As a result,A) landlords have a difficult time finding tenants.B) prospective tenants have a difficult time finding available apartments.C) there is a surplus of apartments.D) All of the above.Answer: BTopic: Effects of Government Intervention3) Complete the sentence. "Next to bombing ________ are the best way to destroy a city."A) rent controlsB) minimum wagesC) health insurance premiums.D) price floors.Answer: ATopic: Effects of Government Intervention4) When "rent controls" result in a shortage of housing, landlordsA) use criteria other than price to allocate housing.B) lower the price to allocate the housing.C) attempt to attract renters.D) None of the above.Answer: ATopic: Effects of Government Intervention5) A restriction on the number of people allowed to be medical doctors in the United States would most likelyA) increase doctors' fees.B) decrease the demand for doctors.C) decrease the demand for nurses.D) decrease the number of people who get sick.Answer: ATopic: Effects of Government Intervention6) The above figure shows the market for crude oil. If a consumer group convinces the government to set a maximum price of $2 per barrel, thenA) 300 barrels of crude oil will be sold at $2.B) zero barrels of crude oil will be sold.C) zero barrels of crude oil will be demanded.D) None of the above.Answer: BTopic: Effects of Government Intervention7) The above figure shows the market for crude oil. If the oil exploration firms convince the government to set a minimum price of $4 per barrel, thenA) 100 barrels of crude oil will be sold at $4.B) zero barrels of crude oil will be sold.C) zero barrels of crude oil will be demanded.D) None of the above.Answer: ATopic: Effects of Government Intervention8) The above figure shows the market for crude oil. If the government restricts output to no more than 300 barrels, thenA) 300 barrels of crude oil will be sold at $3.B) 200 barrels of crude oil will be sold at $3.C) zero barrels of crude oil will be sold.D) None of the above.Answer: BTopic: Effects of Government Intervention9) If a government-imposed price ceiling causes the observed price in a market to be below the equilibrium price,A) there will be excess demand.B) there will be excess supply.C) the curves will shift to make a new equilibrium at the regulated price.D) None of the above.Answer: ATopic: Effects of Government Intervention10) In the labor market, if the government imposes a minimum wage that is below the equilibrium wage, thenA) workers who wish to work at the minimum wage will have a difficult time finding jobs.B) firms will hire fewer workers than without the minimum wage law.C) some workers may lose their jobs as a result.D) nothing will happen to the wage rate or employment.Answer: DTopic: Effects of Government Intervention11) Government prohibition of advertising liquor on television would most likely result inA) a rightward shift in the demand curve for liquor.B) a leftward shift in the demand curve for liquor.C) a rightward shift in the demand curve for television advertising time.D) no change in the market for either liquor or television advertising.Answer: BTopic: Effects of Government Intervention12) The above figure shows a graph of the market for pizzas in a large town. Suppose that concern over dietary habits has led the government to impose a restriction that limits suppliers to produce no more than 40 pizzas. What will the price of pizza be as a result of this quota?A) $2B) $7C) $8D) $10Answer: DTopic: Effects of Government Intervention13) The above figure shows a graph of the market for pizzas in a large town. Suppose that concern over dietary habits has led the government to impose a restriction that limits suppliers to produce only 40 pizzas. As a result, for prices greater than $7, theA) supply curve is unchanged.B) supply curve is vertical.C) demand curve becomes vertical.D) demand curve becomes horizontal.Answer: BTopic: Effects of Government Intervention。

宏观经济学课后习题及答案

宏观经济学课后习题及答案

宏观经济学课后习题及答案第二章习题集答案本章习题一、名词解释题国内生产总值、国民生产总值、国内生产净值、国民收入、个人可支配收入、名义GDP、实际GDP、GDP折算指数二、单项选择题1.下列产品中不属于中间产品的是()A. 某造船厂购进的钢材B. 某造船厂购进的厂房C. 某面包店购进的面粉D. 某服装厂购进的棉布2.在一个四部门经济模型中,GNP=()。

A. 消费十净投资十政府购买十净出口B. 消费十总投资十政府购买十净出口C. 消费十净投资十政府购买十总出口D. 消费十总投资十政府购买十总出口3.下列各项中,属于要素收入的是()A. 企业间接税B. 政府的农产品补贴C. 股票分红D. 公司对希望工程捐款4.已知某国的资本存量年初为200亿美元,它在本年度生产了50亿美元的资本品,资本消耗折旧为30亿美元,则该国在本年度的总投资和净投资分别是()。

A. 50亿美元和20亿美元B. 250亿美元和220亿美元C. 50亿美元和30亿美元D. 150亿美元和170亿美元5.已知在第一年名义GNP为500,如到第六年GNP核价指数增加一倍,实际产出上升40%,则第六年的名义GNP为()。

A. 2000B. 1400C. 1000D. 750三、判断题1.农民生产并用于自己消费的粮食不应计入GNP。

()2.在进行国民收入核算时,政府为公务人员加薪,应视为政府购买。

()3.用收入法计算的GNP中包括折旧,但折旧不属于要素收入。

()4.房主把房屋出租所获得的租金和自己居住所形成的虚拟租金均应计入GNP。

()5.按百分比计算,如果名义GDP上升幅度超过价格上升的幅度,则实际GDP下降。

()四、简答题1.简述国内生产总值、国内生产净值、国民收入、个人收入、个人可支配收入之间的关系。

2.简述国民生产总值和国内生产总值的区别。

3.简述名义GDP和实际GDP的区别五、计算题1.假设GNP为5000,DPI为4100,政府预算赤字为200,消费为300,外贸赤字为100(单位10亿美元)。

华中科技大学武昌分校宏观经济学测试试卷2答案.doc

华中科技大学武昌分校宏观经济学测试试卷2答案.doc

华中科技大学武昌分校宏观经济学测试试卷2答案课程名称:宏观经济学课程编码:122G001 课程类别:数理/人文基础课程评分标准及标准答案:一、不定项选择题:(1.5分X 16=24分)1、ACD 2^ BC 3、BC 4、D 5^ C 6、D 7、C 8、A 9、ABCD10、ACD 11、A 12、C 13、A 14、ABD 15、B 16、ACD二、名词解释:(4分X2=8分)1,奥肯定律揭示了经济周期中失业变动与产出变动的经验关系,即失业率每高于自然失业率1个百分点,实际GDP将低于潜在GDP2个百分点。

2,国内牛:产总值是国民收入帐户的核心概念,它度量一定时期(通常是一个季度或一年)内,经济社会(一国或一个地区)生产的全部最终产品(物品和劳务)的市场价值总和。

三、简答题:(7分X3=21分)1,政府促进经济增长的政策:(1)鼓励技术进步。

一是科技引进、传播与科技自主研发同等重要。

对于处于开放的世界经济体系中的中国來说,政府不仅要鼓励自主研发促进科技进步,还要积极引进和传播先进技术。

二是技术进步要有制度保证。

改革开放以后,我国的企业人部分都转为民营或合资企业,那么就存在着技术进步与企业所有者利润之间的矛厉。

只有技术进步不影响利润时,技术才会被应用。

那么,现冇的制度就要保证一个公平竞争的市场秩序。

保证拥冇先进技术的企业价值的长期最大化。

同时,完善专利制度提高企业和个人从事研究创新的积极性。

三是宏观政策的方向。

政府应着力促进发展新技术的各种政策,鼓励教育,补贴以大学为中心的研发队伍并鼓励基础研究,鼓励风险资本的投资。

(3分)(2)鼓励资木形成。

根据增长核算方程,资本存最的上升会促进经济增长。

鼓励资本形成应鼓励投资和储蓄,这是政府促进经济增长的一种方法。

(2分)(3)增加劳动供给。

增长核算方程表明,增加劳动供给会引起经济增长。

因而,首先,所得税的减免是加强鼓励,促进人们努力工作的一个途径。

其次,政府应提供良好的教育培训体系,来加强人力资本的培育,提高一国生产物品和劳务的能力。

中级宏观题库答案.doc

中级宏观题库答案.doc

二、简述题(图解题)1、该恒等式仍然成立。

理巾(丨)国民收入核算中的恒等式中的储蓄和投资是真实产出中川于储蓄和投资的商品的价值总额。

(2)某人将部分现金存放在家里,所产生的效应相当于中央银行从货币市场中回笼了这笔现金。

即一定程度(轻微)的货币紧缩政策。

这一行为会影响经济体的产出,但不会破坏储蓄和投资之间的恒等关系。

3、自动稳定器是经济屮的一种机制,它自动减少为适应自主需求变动所需的产出变动:W:,政府不需要逐项加以干预;导致经济周期性起伏的主要原因是自主需求的变动,特别是投资耑求的变动,投资者乐观时投资耑求高涨,导致产出水平高涨;投资者悲观时投资耑求下降,导致产出水平下降。

比例所得税能起到自动稳定器的作用是因为经济体的税率水平会随经济的周期性变动而发生变化,并导致乘数# = _!_的变化。

经济繁荣时,整l-c(l-r)体税率水平t提高,导致乘数变小,自主投资耑求对均衡收入产生的乘数效应变小。

经济萧条吋,整体税率水平t下降,导致乘数变大,自主投资需求对均衡收入产生的乘数效应变大。

这意味着由于比例所得税的自动稳定器作用,经济周期性波动的幅度降低了(波峰岛度和波谷深度都降低了)。

4、现代菲利普斯曲线方程:7T = 7T e-e(U-U)o其中,7T为实际通货膨胀率,浐为预期通货膨胀率,W为实际失业率,:为自然失业率。

6•为大于零的常数。

现代菲利普斯曲线反映了通货膨胀率和失业率之间的反向关系,但经过了通过膨胀预期的调整。

滞胀指的是经济停滞和通货膨胀并存的现象,以用现代菲利普斯曲线来解释:图中的A 点和B点对比而言,A点表示失业率和通货膨胀率都很髙,它是一个滞胀点。

之所以会形成A点的滞胀状态,原因是A点所处的短期菲利普斯曲线的通货膨胀预期要大幅商于B点所处的短期菲利普斯曲线的通货膨胀预期。

一旦经济处于高通货膨胀预期的短期菲利普斯曲线上, 衰退将实际通货膨胀推导低于预期通货膨胀的水平,但通货膨胀的绝对水平仍然保持高水平。

中级宏观经济学答案 华中科技大学

中级宏观经济学答案  华中科技大学

Microeconomics, 4e (Perloff)Chapter 1 Introduction1.1 Microeconomics: The Allocation of Scarce Resources1) Microeconomics studies the allocation ofA) decision makers.B) scarce resources.C) models.D) unlimited resources.Answer: BTopic: The Allocation of Scarce Resources2) Microeconomics is often calledA) price theory.B) decision science.C) scarcity.D) resource theory.Answer: ATopic: The Allocation of Scarce Resources3) Most microeconomic models assume that decision makers wish toA) make themselves as well off as possible.B) act selfishly.C) make others as well off as possible.D) None of the above.Answer: ATopic: The Allocation of Scarce Resources4) Society faces trade-offs because ofA) government regulations.B) greedy corporations.C) faceless bureaucrats.D) scarcity.Answer: DTopic: The Allocation of Scarce Resources5) A marketA) always involves the personal exchange of goods for money.B) allows interactions between consumers and firms.C) always takes place at a physical location.D) has no influence on prices.Answer: BTopic: The Allocation of Scarce Resources6) What links the decisions of consumers and firms in a market?A) the governmentB) pricesC) coordination officialsD) microeconomicsAnswer: BTopic: The Allocation of Scarce Resources7) The price of a good isA) always equal to the cost of producing the good.B) never affected by the number of buyers and sellers.C) usually determined in a market.D) None of the above.Answer: CTopic: The Allocation of Scarce Resources8) The flu vaccination example in Section 1.1 is an example of how policy makers may cope withA) scarcity of medical treatment.B) scarcity of patients.C) scarcity of policy makers.D) answering the question of how to produce.Answer: ATopic: The Allocation of Scarce Resources9) Who or what is responsible for the allocation of scarce resources into the production of most goods in the U.S.?A) the U.S. governmentB) the United NationsC) the Federal Reserve BankD) markets and pricesAnswer: DTopic: The Allocation of Scarce ResourcesFor the following, please answer "True" or "False" and explain why.10) Under most circumstances, the application of taxes on goods will only affect who gets the goods. Answer: False. Taxes will affect which goods are produced, how goods are produced, and who gets the goods.Topic: The Allocation of Scarce Resources11) Most modern financial centers use computers to match buyers and sellers. This absence of personal contact contradicts the definition of a market.Answer: False. Buyers and sellers need not meet during a market transaction since a market is not tied to a particular location.Topic: The Allocation of Scarce Resources12) Explain how a market helps determine which goods and services will be produced, how to produce them, and who gets them.Answer: A market promotes interaction between consumers and firms. This interaction will result in prices, which influence the decisions of consumers and firms.Topic: The Allocation of Scarce Resources1.2 Models1) The purpose of making assumptions in economic model building is toA) force the model to yield the correct answer.B) minimize the amount of work an economist must do.C) simplify the model while keeping important details.D) express the relationship mathematically.Answer: CTopic: Models2) Einstein was quoted saying "Everything should be made as simple as possible, but not simpler." When it comes to economic models this means thatA) models shouldn't be too complex.B) models shouldn't be too simple.C) models should have a level of abstraction appropriate to the topic investigated.D) all of the aboveAnswer: DTopic: Models3) If a model's predictions are correct, thenA) its assumptions must have been correct.B) it is proven to be correct.C) Both A and B above.D) None of the above.Answer: DTopic: Models4) Economists tend to judge a model based uponA) the reality of its assumptions.B) the accuracy of its predictions.C) its simplicity.D) its complexity.Answer: BTopic: Models5) Which of the following is an example of a normative statement?A) A higher price for a good causes people to want to buy less of that good.B) A lower price for a good causes people to want to buy more of that good.C) To make the good available to more people, a lower price should be set.D) If you consume this good, you will be better off.Answer: CTopic: Models6) Every economic model should include money as a variable. This statement isA) True, because every transaction in the economy uses money.B) True, because the federal reserve is very important.C) False, because some transactions in the economy are transacted without money.D) False, because a model can get unnecessarily complex if it includes money.Answer: DTopic: Models7) Which of the following is an example of a normative statement?A) Since this good is bad for you, you should not consume it.B) This good has bad health effects.C) If you consume this good, you will get sick.D) People usually get sick after consuming this good.Answer: ATopic: Models8) Which of the following is an example of a positive statement?A) Since this good is bad for you, you should not consume it.B) If this good is bad for you, you should not consume it.C) If you consume this good, you will get sick.D) None of the above.Answer: CTopic: ModelsFor the following, please answer "True" or "False" and explain why.9) Normative analysis offers decision makers the most valuable information when choosing among alternatives.Answer: False. Normative analysis states subjective goals but not how those goals can be achieved. To choose among alternatives decision maker use positive analysis.Topic: Models10) If a model fits reality but doesn't generate testable predictions, it is of little value to economists. Answer: True. If the model doesn't deliver testable predictions it cannot be tested against competing models. Topic: Models11) If actual experience supports two competing theories, then both theories are proven to be true. Answer: False. Neither theory can be rejected but if they are competing, then the test was inconclusive. Topic: Models12) Legislators argue that a minimum wage law is instituted to help poor people. Economists can attack the minimum wage law on two fronts. First, some argue that government should not help the poor. Second, some argue that minimum wage laws actually hurt the poor because it creates unemployment. Which argument is normative and which is positive?Answer: An opinion about the role of government is a normative statement. An observation about the impact of a law is a positive statement.Topic: Models1.3 Uses of Microeconomic Models1) Economic Policy of the government is often based onA) microeconomic models.B) educated guessing.C) intuitive reasoning.D) hints.Answer: ATopic: Uses of Microeconomic Models2) Microeconomic Models are used toA) make predictions.B) explain real-life phenomena.C) evaluate policy alternatives.D) All of the above.Answer: DTopic: Uses of Microeconomic Models3) A microeconomic model CANNOT be used toA) evaluate the impact of a price change on a firm's revenue.B) predict the impact on a rise of the minimum wage on unemployment.C) evaluate the fairness of the proposal to nationalize health insurance.D) evaluate the effect of an increase in stadium size on the price of a sport team's tickets.Answer: CTopic: Uses of Microeconomic ModelsFor the following, please answer "True" or "False" and explain why.4) Microeconomics can be used by governments to predict the impacts of a policy and suggest solutions to problems.Answer: True. Microeconomics models can be used to examine the effects of a policy, and can provide insight into possible solutions to economics problems.Topic: Uses of Microeconomic Models5) One model in economics is the permanent income hypothesis, which basically states that a household's expenditures will not react to a change in income unless that change in income is viewed as being permanent. How would you use this model to predict the expenditure patterns over the course of a year of a real estate agent who only sells homes during the months of April through July?Answer: The agent will not consume all of her income when it is earned. She knows that her paychecks will not be coming during August through March. As a result, some of her summer income will be saved for use during those months.Topic: Uses of Microeconomic Models6) One million automobiles have a defect that could cause the car to explode; however, only one of those cars will actually explode. Nobody knows which one car it is. When the car does explode, the victim's family will sue the automaker for $1 million and win. The defect costs $2 per car to repair. What does economics predict about the automaker's decision to repair the defect?Answer: Correcting the defect will cost $2 million. Not correcting the defect will only cost $1 million. Economics predicts that the automaker will not correct the defect.Topic: Uses of Microeconomic Models。

华中科技大学宏微观经济学(真题 答案) 骨灰版

华中科技大学宏微观经济学(真题 答案)       骨灰版

华中科技大学2006年硕士研究生入学考试试题考试科目:微宏观经济学适用专业:经济学院所有专业一、名词解释(每个5分,共30分)1.补偿预算线2.风险中立者3.欧拉定理4.对外贸易乘数5.实际货币余额效应6.购买力平价理论二、计算题(每题10分,共30分)1.已知某企业的成本函数为TC(Q)=0.04Q3-0.8Q2+10Q+5,指出其中的固定成本、可变成本、平均成本和边际成本;计算平均成本和平均可变成本的最小值和此时的边际成本值。

2.设市场反需求函数为P=300-Q。

该市场由两个生产者分享,即Q=Q1+Q2,假设两个企业生产边际成本均恒等于1,求利润极大化时每个企业的产量与价格。

k3.有以下生产函数的索洛增长模型描述了一个经济:y=(1)解出y作为s,n,g和δ的函数时,达到稳定状态时的值。

(2)假设一个发达国家的储蓄率为28%,人口增长率为每年1%;一个不发达国家储蓄率为10%,人口增长率为每年4%。

而在这两个国家中,g=0.02,δ=0.04。

求出每个国家稳定状态的y值。

(3)不发达国家为了提高自己的收入水平应该采取什么政策?三、简答题(每题10分,公50分)1.运用古典的货币数量理论,说明货币供给增加对通货膨胀的影响?并分析我国目前价格总水平的变化趋势。

2.IS曲线、LM曲线的斜率对财政政策和货币政策的效应有何影响?3.比较新古典宏观经济学与新凯恩斯主义宏观经济学的异同。

4.用博弈矩阵来说明可信和不可信的威胁,并说明这种分析对研究经济生活中的企业竞争问题有无借鉴作用。

5.试简要评论经济学家们提出的关于解决外部影响的各种政策。

四、论述题(每题20分,共40分)1.什么叫效率?什么叫公平?如何兼顾公平与效率?兼评最近我国将个人所得税的起征点提高到1600元的政策措施。

2.试述我国目前存在的失业类型、原因,并根据你所学的经济理论分析我国经济增长方式的转变对就业有何影响。

华中科技大学2006年硕士研究生入学考试试题考试科目:微宏观经济学适用专业:经济学院所有专业一、名词解释(每个5分,共30分)1.补偿预算线答:补偿预算线是用来表示当商品的价格发生变化引起消费者的实际收入水平发生变化时用假设的货币收入的增减来维持消费者的实际收入水平不变的一种分析工具。

中级宏观经济学计算题解答

中级宏观经济学计算题解答

中级宏观经济学计算题解答(总10页)--本页仅作为文档封面,使用时请直接删除即可----内页可以根据需求调整合适字体及大小--1、在以下列函数描述的经济体中,考察税收对均衡收入决定的作用。

C=50+, I =70, G =200, TR =100, t=(1)计算模型中的均衡收入和乘数;(2)计算预算赢余;(3)设想t 增加到,新的均衡收入是什么新的乘数是什么(4)计算预算赢余的变动。

如果c 是而不是,预算赢余是增加还是减少2、在三部门经济中,已知消费函数为C=100+,YD 为可支配收入,投资I=300亿元,政府购买G=160亿元,税收TA=。

试求:(1)均衡的国民收入水平;(2)政府购买乘数;(3)若政府购买增加到300亿元时,新的均衡国民收入。

3、考虑如下经济:(1)消费函数是)(75.0200T Y C -+=,投资函数是r I 25200-=,政府购买和税收都是100,针对这个经济体,画出r 在0~8之间的IS 曲线。

(2)在该经济下,货币需求函数是r Y d P M 100)/(-=,货币供给M 是1000,物价水平P 是2,针对这个经济,画出r 在0~8之间的LM 曲线。

(3)找出均衡利率r 和均衡收入水平y 。

(4)推导并画出总需求曲线。

4.某一两部门的经济由下述关系式描述:消费函数C=100+,投资函数为I=150-6i ,货币需求函数为L=,设P 为价格水平,货币供给为M=150。

试求:(1)总需求函数(2)若P=1,均衡的收入和利率各为多少(3)若该经济的总供给函数为AS=800+150P ,求均衡的收入和价格水平。

5.以下等式描绘一个经济(C 、I 、G 等以10亿美元为计量单位,i 以百分率计量,5%的利率意味着i=5)。

C=(1-t)Y ,t=,I=900-50i ,G =800,L= 500=P M(1)描述IS 曲线的是什么方程(2)描述LM 曲线的是什么方程(3)什么是均衡的收入与均衡的利率水平6.在三部门经济中,消费函数为YD C 8.080+=,投资函数为i I 520-=,货币需求函数为i Y L 104.0-=,政府采购支出20=G ,税收Y T 25.0=,名义货币供给量90=M ,充分就业的产出水平285=Y 。

2022年华中科技大学年宏微观经济学真题答案

2022年华中科技大学年宏微观经济学真题答案

华中科技大学1999年宏微观经济学考试试题一 概念题1 柯布—道格拉斯生产函数一般形式为βαK AL Q =,Q 为产量,K L ,分别为劳动和资本投入量,βα,,A 为三个参数,当1=+βα时,α和β分别表达为劳动和资本在生产过程中旳相对重要性.根据参数α与β之和可以判断规模酬劳旳状况,若1>+βα,则为规模酬劳递增,若1=+βα,则规模酬劳不变,若1<+βα,则规模酬劳递减.2 恩格尔定律在一种家庭或在一种国家中,食物支出在收入中所占旳比例伴随收入旳增长而减少.用弹性概念来表述恩格尔定律可以是:对于一种家庭或一种国家来说,富裕程度越高,则食物支出旳收入弹性就越小,反之则越大.3 规模酬劳分析旳是企业生产规模变化与所引起旳产量变化之间旳关系,规模酬劳变化是指在其他条件不变旳状况下,企业内部多种生产要素按相似比例变化时所带来旳产量旳变化.企业旳规模酬劳变化可以分规模酬劳递增、规模酬劳不变和规模酬劳递减三种状况.4 GNP 折算指数是名义GNP与实际旳GNP旳比率,用公式表达:实际GNP=名义GNP/GNP折算指数.5 流动性陷阱当利率极低时,人们会认为这是利率不大也许再下降或者说有价证券市场价格不大也许再上升而只会跌落时,会将所持有旳有价证券所有换成货币.想这种人们不管有多少货币都乐意持在手中旳状况被称为“流动性陷阱”.6 库兹涅茨倒U 字假说伴随经济发展而来旳“发明”与“破坏”变化着社会、经济构造,并影响着收入分派.在经济未充足发展旳阶段,收入分派将随同经济发展而趋于不平等.其后,经历收入分派临时无多大变化旳时期,抵达经济充足发展旳阶段,收入分派将趋于平等.假如用横轴表达经济发展旳某些指标(一般为人均产值),纵轴表达收入分派不平等程度旳指标,则这一假说提醒旳关系呈倒U字形.二 计算题1 一种完全竞争旳厂商每天利润最大化旳收益为5000元,此时,平均成本为8元,边际成本是10元,平均可变成本是5元,求该厂商每天旳产量和固定成本.解:5,10,8,5000====AVC MC R ,在竞争市场上利润最大化旳条件是P AR MR MC ===因此10==MC P 元,又由于收益PQ R =,因此50010/5000/===P R Q . 在短期:Q AC TFC Q AVC C **=-=,因此1500500*3)(==-=Q AVC AC TFC 元2 已知消费函数αY C 9.0100+=(αY 为可支配收入),投资函数r I 500200-=(r为利率水平),净出口函数r Y F 50012.0100--=(F为净出口),货币需求函数P r Y M )20008.0(-=α(P为价格)若政府支出G=200,税率t=0.2,货币供应1,800==P M S(1)写出IS曲线方程和LM曲线方程; (2) 求出均衡收入和利率水平;求出均衡时旳消费,投资,净出口值.解:(1) d Y C 9.0100+=,r I 500200-=,r Y F 50012.0100--=,200=G IS:F G I C Y +++=,Y Y T Y Y d 8.0)2.01(=-=-=,因此,r Y r Y r Y Y 10006.060050012.01002005002008.0*9.100-+=--++-++=r Y 2001500-=⇒LM:P r Y M d )20008.0(-=,800=S M ,1=P ,d S M M =80020008.0=-→r Y r Y 25001000+=→均衡条件:IS=LMr r 2500100025001500+=-→1250,1.0**==→Y r 10001250*72.01008.0*9.0100**=+=+=Y C ,1501.0*500200500200**=-=-=r I ,1001.0*5001250*12.010050012.0100***-=--=--=r Y F三 简答题1 简评微观经济学旳基本假设条件.答:微观经济学旳两个基本假设条件是合乎理性旳人旳假设条件和完全信息旳假设条件.第一,合乎理性旳人旳假设条件被称作为“经济人”在一切经济活动中旳行为都是合乎所谓旳理性旳,为图以最小旳经济代价去追逐和获得自身旳最大旳经济利益.第二,完全信息旳假设条件是指市场上每一种从事经济活动旳个体(即买者和卖者)都对有关旳经济状况(或经济变量)具有完全旳信息.以上这两个假设条件是微观经济学中旳基本假设条件,西方经济学者承认,上述两个假设条件未必完全合乎事实,他们是为了理论分析旳以便而设置旳.2为何农业会“丰收成灾”和“谷贱伤农”?政府应采用什么政策?答:“丰收成灾”和“谷贱伤农”描述旳是在丰收旳年份,农民旳收入反而减少旳现象,导致这种现象旳主线原因在于农产品往往是缺乏需求价格弹性旳商品.途中农产品旳需求曲线D是缺乏弹性旳,农产品旳丰收使供应曲线由S旳位置向右平移至S 旳位置,在缺乏弹性旳需求曲线旳作用下,农产品旳均衡价格大幅度旳由P1下降到P2,由于农产品旳均衡价格旳下降幅度不小于农产品旳均衡数量旳增长幅度,最终致使农民旳收入减少.基于以上旳经济事实及经验,某些西方国家旳某些援助农场主旳计划,就是通过减少农产品旳种植面积,来减少农产品旳供应和支持农产品旳价格(最低限价),从而保证农场主旳总收入.3凯恩斯是怎样解释经济萧条旳原因旳?提出什么对策?答:按凯恩斯旳理论,在资本主义自由放任旳条件下,有消费需求和投资需求构成旳有效需求,局限性以实现充足就业,或者说资本主义旳一般状态是有效需求局限性,即是处在低于充足就业旳均衡.有效需求局限性是由于边际消费倾向,资本边际效率和流动性偏好这三个基本心理原因旳作用所导致,因此市场机制不能使总需求与总供应在充足就业水平上到达均衡,于是必然要出现萧条和失业,或者当需求过度时,也会出现通货膨胀.因此,政府调整经济就是要维持经济旳稳定,其政策手段就是调整需求,即运用财政政策和货币政策进行总需求管理.在进行需求管理时,财政政策被认为是最有力,最直接旳调整手段.4经济增长旳原因分析对我国转变增长方式有何借鉴意义?答:经济增长是一种复杂旳经济和社会现象,经济增长原因分析对制定增进经济增长旳政策至关重要.经济增长原因分析重要由两类:一是丹尼森经济增长原因分析,二是库兹涅茨经济增长原因分析.丹你森把经济增长原因分为两大类:生产要素投入量和生产要素生产率.详细而言丹尼森把影响经济增长旳原因归结为六个即:劳动,资本存量旳规模,资源配置状况,规模经济,知识进展,其他影响单位投入产量旳原因.丹尼森旳结论是知识进展是发达资本主义国家最重要旳增长原因,包括技术知识,管理致使旳进步和由于采用新旳知识而产生旳构造和设备旳更有效旳设计.管理和组织知识旳进步更也许减少成本,技术知识和管理知识进步旳重要性是相似旳.库兹涅茨经济增长原因分析是运用记录分析措施来分析旳.他提出经济增长旳原因重要是知识存量旳增长,劳动生产率旳提高和构造方面旳变化.他与丹尼森旳不一样之处在于他重视构造原因对经济增长旳奉献,不发达国家经济构造变动缓慢,构造原因对经济增长旳影响比较小.经济增长旳原因分析对我国转变增长方式旳借鉴意义在于:中国应变化经济旳增长方式,从粗放型转为集约型增长,减少要素投入量,增长技术投入量,提高要素生产率,知识与管理对经济增长旳作用是巨大旳,要重视人才培养.四论述题1试述微观经济政策旳理论根据和重要内容.答:微观经济政策重要是针对市场失灵而来旳.市场失灵重要有如下几种状况:垄断,外部影响,公共物品,不完全信息.微观经济政策旳理论根据都是资源最优状态配置,即帕累托最优状态.垄断产量和垄断价格不满足帕累托最优条件,针对垄断有两种微观经济政策:对垄断旳公共管制和反托拉斯法.a,对垄断旳公共管制包括对垄断价格和垄断产量旳管制.政府实行价格与产量管制时,为了提高效率,政府应当将价格定为MC与D线橡胶旳价格水平上,在该价格产量水平上,价格恰好等于边际成本,从而出现亏损,在这种状况下政府必须补助垄断厂商旳亏损.b,反托拉斯法是政府对垄断愈加强烈旳反应,反托拉斯法规定,限制贸易旳协议或共谋,垄断或企图垄断市场,吞并,排他性规定,价格歧视,不合法旳竞争或欺诈行为等都是非法旳.外部影响会导致资源配置失当.外部影响包括“外部经济”和“外部不经济”两种状况,“外部经济”指旳使某个人旳一项经济活动会给社会上其他组员带来好处但他自己却不能由此得到赔偿,此时这个人从其活动中得到旳私人利益不不小于该活动所带来旳社会利益.“外部不经济”指旳是某个人旳遗像经济活动会给社会上其他组员带来危害,但他自己却并不为此支付足够抵偿这种危害旳成本,这个人为其活动所付出旳私人成本不不小于该活动所导致旳社会成本.有关外部影响旳政策包括:a,使用税收和津贴,对导致外部不经济旳企业国家征税,使该企业旳私人成本恰好等于社会成本.对导致外部经济旳企业国家可以采用津贴旳措施,使得企业旳私人利益和社会利益相等.b,使用企业合并旳措施.将外部经济旳企业与外部不经济旳企业合并,使影响内部化,合并后企业旳成本与收益等于社会旳成本与收益,资源到达帕累托最优状态.c,使用规定财产权旳措施.外部影响之因此导致资源配置失当是由于财产权不明确,假如财产权是完全确定并得到充足保障,则有些外部影响就也许不会发生.公共物品会导致市场失灵.对于公共物品旳微观经济政策重要是公共选择,就是所有参与者根据一定旳规则通过互相协商来确定集体行为方案旳过程.a,集体选择旳规则:一致同意规则,多数规则,加权规则,否决规则.b,最优旳集体选择规则:成本模型把成本分为决策成本与外在成本,理性旳经济人将按最低旳互相依赖成本来决定集体选择旳规则.概率模型,力图使集体决策旳成果偏离个人意愿旳也许性最小.c,政府官员制度旳效率:缺乏竞争,机构庞大,成本昂贵.处理措施是使公共部门旳权利分散化,由私人部门承包公共服务旳供应,在公共部门和私人部门之间展开竞争,加强地方政府之间旳竞争.不完全信息也会导致资源旳配置非最优化,违反了帕累托最优原则.处理信息不完全旳经济政策重要是信息调控,实质为了利润最大化,生产者必须根据消费者旳偏好进行生产,否则生产出来旳商品就也许卖不出去,信息调控旳目旳重要是保证消费者和生产者可以得到充足和对旳旳市场信息,即增长市场旳“透明度”,以便他们可以做出对旳旳选择.2试述新古典宏观经济学与新凯恩斯主义宏观经济学旳区别,并加以评价.答:新古典宏观经济模型:在考虑预期下,一切宏观政策都无效.○1新古典经济学模型:以卢卡斯为代表旳理性预期学派用理性预期旳假设否认AD有效性,政策上助长稳定旳公开宣布旳货币政策.○2李嘉图等价定理:最初由李嘉图(英)提出,后由巴罗发挥,阐明减税政策无效,否认财政政策有效.否认Keynism财政政策旳工具.○3实际经济周期:否认Keynism需求旳经济理论,否认货币学派,主张由技术等原因引起周期(实际周期→Supply)技术冲击→新Keynism主义经济学:在适应性预期假定和粘性工资假定之上.○1政策主张:既主张AS管理又主张AD管理.○2新旧Keynism旳区别:a,在总需求理论上,愈加重视货币和货币政策旳作用,淡化了财政政策作用;b,用适应性预期假定和粘性工资假定,替代了Keynism刚性工资假定,因此SAS曲线是正斜率而不是水平,推论AS和AD共同决定经济波动(而初期Keynism仅强调AD);c,不仅强调AD管理,并且强调AS管理,且在AD管理政策上,放弃初期通胀和赤字来刺激增长过程,该而采用稳定物价和预算平衡旳有限刺激政策.新古典经济学和Keynism旳重要分歧:○1基本假设不一样:新古典经济学理性预期和灵活工资;新Keynism适应性预期和粘性工资.○2AS斜率不一样:新古典经济学垂直旳AS曲线;新Keynism正斜率旳AS曲线.○3AD政策有效性旳见解不一样:新古典经济学认为无效;新Keynism认为有效.○4对经济周期原因旳解释不一样:新古典经济学认为供应方面决定经济周期,实际经济周期理论;新Keynism认为由AD和AS共同来决定.。

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Microeconomics, 4e (Perloff)Chapter 2 Supply and Demand2.1 Demand1) According to the Law of Demand, the demand curve for a good willA) shift leftward when the price of the good increases.B) shift rightward when the price of the good increases.C) slope downward.D) slope upward.Answer: CTopic: Demand2) An increase in the price of pork will lead toA) a movement up along the demand curve.B) a movement down along the demand curve.C) a rightward shift of the demand curve.D) a leftward shift of the demand curve.Answer: ATopic: Demand3) An increase in consumer incomes will lead toA) a rightward shift of the demand curve for plasma TVs.B) a movement upward along the demand curve for plasma TVs.C) a rightward shift of the supply curve for plasma TVs.D) no change of the demand curve for plasma TVs.Answer: ATopic: Demand4) Consider the demand function Qd = 150 - 2P. The effects of other determinants of Qd is reflected inA) the intercept of the function.B) the slope of the function.C) neither the slope nor the intercept of the function.D) in both the slope and the intercept of the function.Answer: ATopic: Demand5) Consider the demand functions: A) Qd = 250 - 2P B) Qd = 300 - 3P.Which of the demand functions reflects a higher level of consumer incomes?A) AB) BC) A and B reflect the same consumer incomes.D) More information is needed.Answer: DTopic: Demand6) Holding all other factors constant, consumers demand more of a good theA) higher its price.B) lower its price.C) steeper the downward slope of the demand curve.D) steeper the upward slope of the demand curve.Answer: BTopic: Demand7) As the price of a good increases, the change in the quantity demanded can be shown byA) shifting the demand curve leftward.B) shifting the demand curve rightward.C) moving down along the same demand curve.D) moving up along the same demand curve.Answer: DTopic: Demand8) If the price of automobiles were to increase substantially, the demand curve for gasoline would most likelyA) shift leftward.B) shift rightward.C) become flatter.D) become steeper.Answer: ATopic: Demand9) If the price of automobiles were to decrease substantially, the demand curve for automobiles would most likelyA) shift rightward.B) shift leftward.C) remain unchanged.D) become steeper.Answer: CTopic: Demand10) If the price of automobiles were to decrease substantially, the demand curve for public transportation would most likelyA) shift rightward.B) shift leftward.C) remain unchanged.D) remain unchanged while quantity demanded would change.Answer: BTopic: Demand11) An increase in the demand curve for orange juice would be illustrated as aA) leftward shift of the demand curve.B) rightward shift of the demand curve.C) movement up along the demand curve.D) movement down along the demand curve.Answer: BTopic: Demand12) The term "inverse demand curve" refers toA) a demand curve that slopes upward.B) expressing the demand curve in terms of price as a function of quantity.C) the demand for "inverses."D) the difference between quantity demanded and supplied at each price.Answer: BTopic: Demand13) If the demand for oranges is written as Q = 100 - 5p, then the inverse demand function isA) Q = 5p - 100.B) Q = 20 - .2p.C) p = 20 - 5Q.D) p = 20 - .2Q.Answer: DTopic: Demand14) To determine the total demand for all consumers, sum the quantity each consumer demandsA) at a given price.B) at all prices and then sum this amount across all consumers.C) Both A and B will generate the same total demand.D) None of the above.Answer: ATopic: Demand15) The above figure shows a graph of the market for pizzas in a large town. No pizzas will be demanded unless price is less thanA) $0.B) $5.C) $12.D) $14.Answer: DTopic: DemandFor the following, please answer "True" or "False" and explain why.16) If a good is not produced, then there is no demand for it.Answer: False. The demand for a product is independent of its supply. It is possible that people want to buy some of the product but at prices that are below what sellers would require to begin production.Topic: Demand17) Because people prefer name-brand pain-relieving drugs over store-brand pain-relieving drugs, demand curves do not slope downward for pain-relieving drugs.Answer: False. Demand curves slope downward assuming all other factors do not change. Consumers may view brand-name drugs to be of higher quality than store-brand drugs, and therefore the demand curve for brand-name drugs lies to the right of the demand curve for store-brand drugs.Topic: Demand18) The quantity of a good that consumers demand depends only on the price of the good.Answer: False. The quantity of a good demanded depends on many factors including: price, consumers' incomes, and the price of related goods.Topic: Demand19) During the winter of 1997-1998, the northeastern United States experienced warmer than usual conditions. The price of home heating oil was less than it was during the previous winter, but people bought less home heating oil. This contradicts the Law of Demand.Answer: False. The statement claiming a contradiction confuses a change in quantity demanded with a change in the demand curve. The law of demand refers to movements along a given demand curve. The mild weather caused a leftward shift of the demand curve.Topic: Demand20) Suppose an individual inverse demand curve is given as P = 2 - 1/2 q i, where q i is the quantity demanded by individual i. There are 50 individual consumers with this identical, individual inverse demand curve. Solve for the market demand curve.Answer: Solve for the individual, regular demand curve, q i = 4 - 2P. Multiply the individual demand curve by 50 to yield q D = 200 - 100P.Topic: Demand21) Suppose the market demand curve for pizza can be expressed as QD = 100 - 2P + 3Pb, where QD is the quantity of pizza demanded, P is the price of a pizza, and Pb is the price of a burrito. What is the slope of this demand function, and what information does the slope provide?Answer: The slope is -2. The slope tells us how a change in the price of pizzas affects the quantity of pizzas demanded. An increase in the price of pizzas by $1 will result in a decrease of the quantity demanded by 2 pizzas.Topic: Demand22) Suppose the demand for a particular product can be expressed as Q = 100/p. Calculate the total amount spent on this good when p = 10, 20, and 50. Can you make a generalization about the mathematical form of this demand curve and consumer behavior in this market?Answer: In all cases, total expenditure equals 100 (since p * Q = 100). In general, a nonlinear demand curve of the form Q = A/p means that consumers wish to spend a total of A on this good regardless of its price. Topic: Demand2.2 Supply1) Suppose the demand curve for a good shifts rightward, causing the equilibrium price to increase. This increase in the price of the good results inA) a rightward shift of the supply curve.B) an increase in quantity supplied.C) a leftward shift of the supply curve.D) a downward movement along the supply curve.Answer: BTopic: Supply2) A rise in the oil price willA) shift the supply curve to the left.B) shift the supply curve to the right.C) leave the supply curve unchanged.D) not enough information.Answer: ATopic: Supply3) The above figure shows a graph of the market for pizzas in a large town. No pizzas will be supplied unless the price is aboveA) $0.B) $5.C) $12.D) $14.Answer: BTopic: Supply4) Supply curvesA) slope upward.B) slope downward.C) are horizontal.D) can have many shapes.Answer: DTopic: Supply5) Suppose there are 100 identical firms in the rag industry, and each firm is willing to supply 10 rags at any price. The market supply curve will be a(n)A) vertical line where Q = 10.B) vertical line where Q = 100.C) vertical line where Q = 1000.D) horizontal line where Q = 1000.Answer: CTopic: Supply6) The expression "increase in quantity supplied" is illustrated graphically as aA) leftward shift in the supply curve.B) rightward shift in the supply curve.C) movement up along the supply curve.D) movement down along the supply curve.Answer: CTopic: Supply7) If the supply curve of a product changes so that sellers are now willing to sell 2 additional units at any given price, the supply curve willA) shift leftward by 2 units.B) shift rightward by 2 units.C) shift vertically up by 2 units.D) shift vertically down by 2 units.Answer: BTopic: Supply8) The market supply curve is found byA) horizontally summing all individual supply curves.B) vertically summing all individual supply curves.C) Either A or B above since they both give the same answer.D) None of the above.Answer: ATopic: Supply9) Technological innovation in the production of computers has led toA) a decrease in the quantity demanded for computers.B) a rightward shift of the supply curve for computers.C) a decrease in the quantity supplied of computers.D) None of the above.Answer: BTopic: Supply10) Restricting imports tends toA) shift the demand curve for the product to the left.B) shift the demand curve for the product to the right.C) change the shape of the supply curve.D) increase the quantity supplied of a product.Answer: CTopic: SupplyFor the following, please answer "True" or "False" and explain why.11) The Law of Supply insures that supply curves slope upward.Answer: False. There is no Law of Supply. Supply curves can take multiple shapes and thus don't have to be upward-sloping. (p. 22)Topic: Supply12) Suppose the following information is known about a market:1. Sellers will not sell at all below a price of $2.2. At a price of $10, any given seller will sell 10 units.3. There are 100 identical sellers in the market.Assuming a linear supply curve, use this information to derive the market supply curve.Answer: First, Q = 100q since all firms are identical. This gives two points: (p = 2, Q = 0) and (p = 10, Q = 1000). From the first point, it is known that p = 2 + bQ. When Q = 1000, 10 = 2 + b(1000). Solving for b yields b = .008. Rearranging to solve for Q yields: Q = -250 + 125p or P= 2 + .008Q.Topic: Supply2.3 Market Equilibrium1) Equilibrium is defined as a situation in whichA) neither buyers nor sellers want to change their behavior.B) no government regulations exist.C) demand curves are perfectly horizontal.D) suppliers will supply any amount that buyers wish to buy.Answer: ATopic: Market Equilibrium2) Once an equilibrium is achieved, it can persist indefinitely becauseA) shocks that shift the demand curve or the supply curve cannot occur.B) shocks to the demand curve are always exactly offset by shocks to the supply curve.C) the government never intervenes in markets at equilibrium.D) in the absence of supply/demand shocks no one applies pressure to change the price. Answer: DTopic: Market Equilibrium3) If price is initially above the equilibrium level,A) the supply curve will shift rightward.B) the supply curve will shift leftward.C) excess supply exists.D) all firms can sell as much as they want.Answer: CTopic: Market Equilibrium4) A competitive equilibrium is described byA) a price only.B) a quantity only.C) the excess supply minus the excess demand.D) a price and a quantity.Answer: DTopic: Market Equilibrium5) The above figure shows a graph of the market for pizzas in a large town. At a price of $14, there will beA) no pizzas supplied.B) equilibrium.C) excess supply.D) excess demand.Answer: CTopic: Market Equilibrium6) The above figure shows a graph of the market for pizzas in a large town. At a price of $5, there will beA) excess demand.B) excess supply.C) equilibrium.D) zero demand.Answer: ATopic: Market Equilibrium7) The above figure shows a graph of the market for pizzas in a large town. What are the equilibrium price and quantity?A) p = 8, Q = 60B) p = 60, Q = 8C) p = 14, Q = 140D) p = 5, Q = 60Answer: ATopic: Market Equilibrium8) The above figure shows a graph of a market for pizzas in a large town. At a price of $7, what is the amount of excess demand?A) 0; there is excess supply at $7.B) 20 unitsC) 30 unitsD) 10 unitsAnswer: CTopic: Market Equilibrium9) The above figure shows a graph of a market for pizzas in a large town. At a price of $10, the marketA) is not in equilibrium.B) has excess supply.C) does not have excess demand.D) All of the above.Answer: DTopic: Market Equilibrium10) The above figure shows three different supply-and-demand graphs. Which graph best represents the market for vacations on Mars?A) Graph AB) Graph BC) Graph CD) None of the above.Answer: ATopic: Market Equilibrium11) The above figure shows three different supply-and-demand graphs. Which graph best represents the market for workers at your nearest fast-food restaurant?A) Graph AB) Graph BC) Graph CD) None of the above.Answer: CTopic: Market Equilibrium12) The above figure shows three different supply-and-demand graphs. Which graph best represents the market for the air we are currently breathing?A) Graph AB) Graph BC) Graph CD) None of the above.Answer: BTopic: Market Equilibrium13) After tickets for a major sporting event are purchased at the official box office price, a market often develops whereby these tickets sell at prices well above the official box office price. Which of the following scenarios would NOT be able to explain this result?A) The official price was below equilibrium from the moment the tickets were available.B) Increased publicity causes the demand curve for the event to shift rightward.C) The event was not a sellout.D) Not everyone who wanted a ticket was able to buy one at the box office.Answer: CTopic: Market EquilibriumFor the following, please answer "True" or "False" and explain why.14) When a market is in disequilibrium consumers and producers change their behavior. As a result the market reaches equilibrium.Answer: True. For example, when a shortage exists at a given price consumer bid up the price and firms increase production until the equilibrium is reached.Topic: Market Equilibrium15) Suppose the market for potatoes can be expressed as follows:Supply: Q S = -20 + 10pDemand: Q D = 400 - 20pSolve for the equilibrium price and quantity.Answer: Equate the RHS of the supply equation to the RHS of the demand equation: -20 + 10p = 400 - 20p. Rearrange: 30p = 420 or p = 14. Plug this into either S or D to get Q: Q = 400 - 20(14) = 120.Topic: Market Equilibrium16) Use supply-and-demand graphs to explain why parking is free at the suburban shopping mall but one typically must pay to park when shopping downtown.Answer:See the above figure. At the suburban shopping mall, the only cars typically on the lot belong to shoppers and employees. Mall lots are usually built to be large enough to handle peak crowds. For the relevant quantities, the supply curve is horizontal at a price of zero. As a result, the quantity demanded never exceeds the amount that is provided freely. Downtown, shoppers compete with a larger quantity and greater variety of drivers for parking spaces. The quantity that is available freely is not enough to accommodate all of those who wish to park downtown.Topic: Market Equilibrium17) Explain why the equilibrium price is called the market clearing price.Answer: At the equilibrium price, sellers want to sell the exact amount consumers want to buy. There is no excess demand or excess supply. The market is exactly cleared of all goods.Topic: Market Equilibrium2.4 Shocking the Equilibrium1) From the 1970s through the 1990s, the relative price of a college education has increased greatly. During the same time period, college enrollment has also increased. This evidence suggests that during this time periodA) the demand curve for a college education has shifted leftward.B) the demand curve for a college education has shifted rightward.C) the supply curve for a college education has shifted leftward.D) the supply curve for a college education has shifted rightward.Answer: BTopic: Shocking the Equilibrium2) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for coffee after severe weather destroys a large portion of the coffee crop?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: CTopic: Shocking the Equilibrium3) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for tea after severe weather destroys a large portion of the coffee crop?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: ATopic: Shocking the Equilibrium4) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for non-dairy coffee creamer after severe weather destroys a large portion of the coffee crop?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: DTopic: Shocking the Equilibrium5) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for computers after technological advances in making computers occur?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: BTopic: Shocking the Equilibrium6) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for computer manuals after technological advances in making computers occur?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: ATopic: Shocking the Equilibrium7) The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for typewriters after technological advances in computerized word-processing software occur?A) Graph AB) Graph BC) Graph CD) Graph DAnswer: DTopic: Shocking the Equilibrium8) Suppose a market were currently at equilibrium. A rightward shift of the demand curve would causeA) an increase in price but a decrease in quantity.B) a decrease in price but an increase in quantity.C) an increase in both price and quantity.D) a decrease in both price and quantity.Answer: CTopic: Shocking the Equilibrium9) Suppose a market were currently at equilibrium. A rightward shift of the supply curve would cause a(n)A) increase in price but a decrease in quantity.B) decrease in price but an increase in quantity.C) increase in both price and quantity.D) decrease in both price and quantity.Answer: BTopic: Shocking the Equilibrium10) A rightward shift of the demand curve will lead to a(n)A) increase in equilibrium price.B) excess demand at the old equilibrium price.C) increase in quantity supplied.D) All of the above.Answer: DTopic: Shocking the Equilibrium11) A rightward shift of the supply curve will lead to a(n)A) decrease in equilibrium price.B) excess supply at the old equilibrium price.C) increase in quantity demanded.D) All of the above.Answer: DTopic: Shocking the Equilibrium12) If the demand curve is vertical a rightward shift of the supply curve will lead toA) an increase in quantity supplied.B) an increase in quantity demanded.C) a decrease in quantity demanded.D) an increase in price.Answer: DTopic: Shocking the Equilibrium13) When import restrictions are placed on a good, and as a result the price of the good increases, the demand curve for that good willA) shift rightward.B) shift leftward.C) become steeper.D) be unaffected.Answer: DTopic: Shocking the Equilibrium14) When two goods are substitutes, a shock that raises the price of one good causes the price of the other good toA) remain unchanged.B) decrease.C) increase.D) change in an unpredictable manner.Answer: CTopic: Shocking the Equilibrium15) A drought in the Midwest will raise the price of wheat because of aA) leftward shift in the supply curve.B) rightward shift in the supply curve.C) leftward shift in the demand curve.D) rightward shift in the demand curve.Answer: ATopic: Shocking the Equilibrium16) If pizza and tacos are substitutes, a decrease in the price of tacos would lead to aA) decrease in the demand curve for pizza.B) decrease in the quantity demanded of pizza.C) decrease in the price of pizza.D) All of the above.Answer: DTopic: Shocking the EquilibriumFor the following, please answer "True" or "False" and explain why.17) During a mild winter, the price of home heating oil is expected to be less than it would be during a normal winter.Answer: True. During a mild winter, people do not need to operate their furnace as often as in a normal winter. The demand for home heating oil lies to the left of where it would be under normal weather conditions. As a result, the price of oil falls.Topic: Shocking the Equilibrium18) What happens to the equilibrium price and quantity of coffee when there is a leftward shift of the supply curve for tea? Explain.Answer:See the above figure. The leftward shift in the supply of tea causes tea prices to increase. Since coffee and tea are substitutes, the demand for coffee increases, resulting in higher coffee prices.Topic: Shocking the Equilibrium19) Suppose there is a linear downward-sloping demand curve and a linear upward-sloping supply curve fora good. The price of a substitute good increases and the price of an input to production also increases. Graph the original demand and supply curves, and the curves after the substitute good and input prices increase. How will the equilibrium price change after the substitute and input prices increase?Answer:See the above figure. The new demand curve will be to the right of the original demand curve and the new supply curve will be to the left of the original supply curve. The equilibrium price will increase. The change in equilibrium quantity cannot be determined and will depend on the relative magnitude of the supply and demand shifts.Topic: Shocking the Equilibrium2.5 Effects of Government Interventions1) Government actions can cause aA) shift in the supply curve.B) shift in the demand curve.C) reaction from firms in other countries.D) All of the above.Answer: DTopic: Effects of Government Intervention2) Municipalities that have adopted the policy of "rent control" typically set the rentals on certain apartments well below equilibrium. As a result,A) landlords have a difficult time finding tenants.B) prospective tenants have a difficult time finding available apartments.C) there is a surplus of apartments.D) All of the above.Answer: BTopic: Effects of Government Intervention3) Complete the sentence. "Next to bombing ________ are the best way to destroy a city."A) rent controlsB) minimum wagesC) health insurance premiums.D) price floors.Answer: ATopic: Effects of Government Intervention4) When "rent controls" result in a shortage of housing, landlordsA) use criteria other than price to allocate housing.B) lower the price to allocate the housing.C) attempt to attract renters.D) None of the above.Answer: ATopic: Effects of Government Intervention5) A restriction on the number of people allowed to be medical doctors in the United States would most likelyA) increase doctors' fees.B) decrease the demand for doctors.C) decrease the demand for nurses.D) decrease the number of people who get sick.Answer: ATopic: Effects of Government Intervention6) The above figure shows the market for crude oil. If a consumer group convinces the government to set a maximum price of $2 per barrel, thenA) 300 barrels of crude oil will be sold at $2.B) zero barrels of crude oil will be sold.C) zero barrels of crude oil will be demanded.D) None of the above.Answer: BTopic: Effects of Government Intervention7) The above figure shows the market for crude oil. If the oil exploration firms convince the government to set a minimum price of $4 per barrel, thenA) 100 barrels of crude oil will be sold at $4.B) zero barrels of crude oil will be sold.C) zero barrels of crude oil will be demanded.D) None of the above.Answer: ATopic: Effects of Government Intervention8) The above figure shows the market for crude oil. If the government restricts output to no more than 300 barrels, thenA) 300 barrels of crude oil will be sold at $3.B) 200 barrels of crude oil will be sold at $3.C) zero barrels of crude oil will be sold.D) None of the above.Answer: BTopic: Effects of Government Intervention9) If a government-imposed price ceiling causes the observed price in a market to be below the equilibrium price,A) there will be excess demand.B) there will be excess supply.C) the curves will shift to make a new equilibrium at the regulated price.D) None of the above.Answer: ATopic: Effects of Government Intervention10) In the labor market, if the government imposes a minimum wage that is below the equilibrium wage, thenA) workers who wish to work at the minimum wage will have a difficult time finding jobs.B) firms will hire fewer workers than without the minimum wage law.C) some workers may lose their jobs as a result.D) nothing will happen to the wage rate or employment.Answer: DTopic: Effects of Government Intervention11) Government prohibition of advertising liquor on television would most likely result inA) a rightward shift in the demand curve for liquor.B) a leftward shift in the demand curve for liquor.C) a rightward shift in the demand curve for television advertising time.D) no change in the market for either liquor or television advertising.Answer: BTopic: Effects of Government Intervention12) The above figure shows a graph of the market for pizzas in a large town. Suppose that concern over dietary habits has led the government to impose a restriction that limits suppliers to produce no more than 40 pizzas. What will the price of pizza be as a result of this quota?A) $2B) $7C) $8D) $10Answer: DTopic: Effects of Government Intervention13) The above figure shows a graph of the market for pizzas in a large town. Suppose that concern over dietary habits has led the government to impose a restriction that limits suppliers to produce only 40 pizzas. As a result, for prices greater than $7, theA) supply curve is unchanged.B) supply curve is vertical.C) demand curve becomes vertical.D) demand curve becomes horizontal.Answer: BTopic: Effects of Government Intervention。

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