北大出版社曼昆宏观经济学第六版全英题库有答案23章.docx
曼昆《经济学原理(宏观经济学分册)》章节题库(一国收入的衡量)【圣才出品】
第23章一国收入的衡量一、名词解释1．国民收入答：国民收入即NI，是一国生产要素所有者在一定时期内，因从事生产和提供劳务，按生产要素所得的报酬，是劳动、资本和土地等生产要素所获得的全部收入，NI可由NDP 减去间接税和企业转移支付再加上政府补助金得到。
这里的国民收入，实际上是按要素费用计算的国民净收入。
在西方国家，有时简称为（狭义的）国民收入。
国民收入的核算公式为：NI＝NDP－企业间接税－企业转移支付＋政府补助金2．实际人均GDP答：实际人均GDP指标是指，实际GDP除以人口数量，是每个人的平均实际GDP。
实际人均GDP在某些情况下是一个比较有用的指标，例如，它可以用于比较不同国家的劳动生产率。
然而，它本身并不足以作为政策目标，因为它没有表明一个国家会如何使用这些产量来提高社会生活水平。
二、判断题1．GDP度量一个国家的社会福利水平。
（）【答案】×【解析】GDP一般仅指市场活动导致的价值。
它不能度量一个国家的社会福利水平，GDP作为核算国民经济活动的核心指标也是有局限性的：①它不能反映社会成本。
②它不能反映经济增长方式付出的代价。
③它不能反映人们的生活质量。
④不能反映社会收入和财富分配的状况。
例如，即使两国人均GDP水平相同，但一国贫富差距比另一国大得多，显然，前一国的社会总福利要比后一国低的多。
基于GDP在度量社会福利水平上存在的诸多不足，经济学家们纷纷构建了一些新的指标来衡量社会福利水平，比如经济净福利指标、绿色GDP等。
2．购买100股苹果公司股票是宏观经济学中投资支出的一个例子。
（）【答案】×【解析】宏观经济学中的投资是指一定时期内增加到资本存量中的资本流量，包括房屋建筑、机器制造，以及企业存货的增加等。
购买股票是个人与个人之间重新配置资产时发生的购买，不属于经济学中的投资。
3．如果有人在中国购买了澳大利亚生产的柑桔，那么这个支出就会计入中国GDP中的消费部分，也会计入中国GDP中的进口部分。
宏观经济学曼昆第六版课后答案
答：股票分析师在确定股票的价值时应该考虑公司未来的盈利能力。公司的盈利能力取决于以下因素：市场对其产品的需求、所面临的顾客忠诚度、面对的政府管制和税收等。因此，股票分析师就要考虑所有上述因素以决定公司的一股股票价值为多少。
6．描述有效市场假说，并给出一个与这种理论一致的证据。
2．现值（present value）
答：现值指按现行利率为获得一个既定的未来货币量而在今天所需要的货币量。现值可用倒求本金的方法计算。由终值求现值，称为贴现。在贴现时使用的利息率称为贴现率。现值的计算公式可由终值的计算公式导出：fvn?pv?1?i?，则有：
pv?fvn?1n?1?i?n
上述公式中的1
5．风险厌恶（risk averse）
答：风险厌恶又称“风险规避”，指不喜欢不确定性。风险厌恶者总是以无风险或低风险作为衡量各种备选方案优劣的标准，把那些可能发生风险的备选方案拒之于外。
6．多元化（diversification）
答：多元化又称分散化，指通过分散投资于多项资产来降低投资风险的一种投资方式。从理论上来讲，一个证券组合只要包含了足够多的相关性较弱（甚至负相关）的证券，就完全可能消除所有风险，但是现实中，各证券收益率之间的正相关程度较高，因为各证券的收益率在一定程度上受同一因素影响（如经济周期、利率的变化等），因此分散化投资可以消除资产组合的非系统性风险，但是并不能消除系统性风险。也就是说，随着纳入同一资产组合的资产的收益率之间的相关系数（或协方差）的减小，该资产组合的收益率的方差（或标准差）也随之减小。各个证券之间的收益率变化的相关性越弱，分散投资降低风险的效果就越明显。
9．基本面分析（fundamental analysis）
北大出版社_曼昆_宏观经济学_第六版_最新全英试题库_有答案解析_23章
Chapter 23 Measuring a Nation's IncomeMULTIPLE CHOICE1. M acroeconomists studya. the decisions of individual households and firms.b. the interaction between households and firms.c. economy-wide phenomena.d. regulations imposed on firms and unions.ANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Definitional2. W hich of the following newspaper headlines is more closely related to what micro-economists study than to what macroeconomists study?a. Unemployment rate rises from 5 percent to 5.5 percent.b. Real GDP grows by 3.1 percent in the third quarter.c. Retail sales at stores show large gains.d. The price of oranges rises after an early frost.ANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive3. W hich of the following questions is more likely to be studied by a microeconomist thana macroeconomist?a. Why do prices in general rise by more in some countries than in others?b. Why do wages differ across industries?c. Why do national production and income increase in some periods and not in others?d. How rapidly is GDP currently increasing?ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive4. W hich of the following topics are more likely to be studied by a macroeconomist thanby a microeconomist?a. the effect of taxes on the prices of airline tickets, and the profitability ofautomobile-manufacturing firmsb. the price of beef, and wage differences between gendersc. how consumers maximize utility, and how prices are established in markets foragricultural productsd. the percentage of the labor force that is out of work, and differences in averageincome from country to countryANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive12 ❖Chapter 23/Measuring a Nation's Income5. W e would expect a macroeconomist, as opposed to a microeconomist, to be particularlyinterested ina. explaining how economic changes affect prices of particular goods.b. devising policies to deal with market failures such as externalities and marketpower.c. devising policies to promote low inflation.d. identifying those markets that are competitive and those that are not competitive. ANS: C DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive6. W hich of the following is not a question that macroeconomists address?a. Why is average income high in some countries while it is low in others?b. Why does the price of oil rise when war erupts in the Middle East?c. Why do production and employment expand in some years and contract in others?d. Why do prices rise rapidly in some periods of time while they are more stable inother periods?ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive7. T he basic tools of supply and demand area. useful only in the analysis of economic behavior in individual markets.b. useful in analyzing the overall economy, but not in analyzing individual markets.c. central to microeconomic analysis, but seldom used in macroeconomic analysis.d. central to macroeconomic analysis as well as to microeconomic analysis.ANS: D DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Supply and demandMSC: Definitional8. W hich of the following statistics is usually regarded as the best single measure ofa society’s economic well-being?a. the unemployment rateb. the inflation ratec. gross domestic productd. the trade deficitANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional范文范例学习参考9. G DPa. is used to monitor the performance of the overall economy but is not the singlebest measure of a society’s economic well-being.b. is used to monitor the performance of the overall economy and is the single bestmeasure of a society’s economic well-being.c. is not used to monitor the performance of the overall economy but is the singlebest measure of a society’s economic well-being.d. is not used to monitor the performance of the overall economy and is not the singlebest measure of a society’s economic well-being.ANS: B DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: DefinitionalTHE ECONOMY'S INCOME AND EXPENDITURE1. G ross domestic product measuresa. income and expenditures.b. income but not expenditures.c. expenditures but not income.d. neither income nor expenditures.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive2. E xpenditures on a nation’s domestic productiona. are less than its domestic production.b. are equal to its domestic production.c. are greater than its domestic production.d. could be less than, equal to, or greater than its domestic production. ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional3. I ncome generated by a nation’s domestic productiona. is less than its domestic production.b. is equal to its domestic production.c. is greater than its domestic production.d. could be less than, equal to, or greater than its domestic production. ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional4 ❖Chapter 23/Measuring a Nation's Income4. F or an economy as a whole,a. wages must equal profit.b. consumption must equal saving.c. income must equal expenditure.d. the number of buyers must equal the number of sellers.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive5. W hich of the following statements about GDP is correct?a. GDP measures two things at once: the total income of everyone in the economyand the total expenditure on the economy’s output of goods and services.b. Money continuously flows from households to firms and then back tohouseholds, and GDP measures this flow of money.c. GDP is generally regarded as the best single measure of a society’seconomic well-being.d. All of the above are correct.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive6. B ecause every transaction has a buyer and a seller,a. GDP is more closely associated with an economy’s income than it is withan economy’s expenditure.b. every transaction contributes equally to an economy’s income and to itsexpenditure.c. the number of firms must be equal to the number of households in a simplecircular-flow diagram.d. firms’ profits are necessarily zero in a simple circular-flow diagram. ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Interpretive7. F or an economy as a whole, income must equal expenditure becausea. the number of firms is equal to the number of households in an economy.b. individuals can only spend what they earn each period.c. every dollar of spending by some buyer is a dollar of income for some seller.d. every dollar of saving by some consumer is a dollar of spending by someother consumer.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Interpretive范文范例学习参考8. I f an economy’s GDP falls, then it must be the case that the economy’sa. income falls and saving rises.b. income and saving both fall.c. income falls and expenditure rises.d. income and expenditure both fall.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive9. I f an economy’s GDP rises, then it must be the case that the economy’sa. income rises and saving falls.b. income and saving both rise.c. income rises and expenditure falls.d. income and expenditure both rise.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive10. W hich of the following statements about GDP is correct?a. GDP measures two things at once: the total income of everyone in the economyand the unemployment rate of the economy’s labor force.b. Money continuously flows from households to government and then back tohouseholds, and GDP measures this flow of money.c. GDP is to a nation’s economy as household income is to a household.d. All of the above are correct.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive11. I n a simple circular-flow diagram, total income and total expenditure area. never equal because total income always exceeds total expenditure.b. seldom equal because of the ongoing changes in an economy’s unemploymentrate.c. equal only when the government purchases no goods or services.d. always equal because every transaction has a buyer and a seller.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive6 ❖Chapter 23/Measuring a Nation's Income12. I n a simple circular-flow diagram,a. households spend all of their income.b. all goods and services are bought by households.c. expenditures flow through the markets for goods and services, while incomeflows through the markets for the factors of production.d. All of the above are correct.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive13. I n a simple circular-flow diagram, firms use the money they get from a saletoa. pay wages to workers.b. pay rent to landlords.c. pay profit to the firms’ owners.d. All of the above are correct.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Definitional14. I n a simple circular-flow diagram, households buy goods and services with theincome they get froma. wages.b. rents.c. profits.d. All of the above are correct.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Definitional15. I n the actual economy, householdsa. spend all of their income.b. divide their income among spending, taxes, and saving.c. buy all goods and services produced in the economy.d. Both (a) and (c) are correct.ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive范文范例学习参考16. T otal income from the domestic production of final goods and services equalsa. only household expenditures for these goods.b. only household and business expenditures for these goods.c. only household and government expenditures for these goods.d. the expenditures for these goods whoever buys them.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Definitional17. I n the actual economy, goods and services are purchased bya. households, but not firms or the government.b. households and firms, but not the government.c. households and the government, but not firms.d. households, firms, and the government.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive18. A ccording to the circular-flow diagram GDPa. can be computed as the total income paid by firms or as expenditures onfinal goods and services.b. can be computed as the total income paid by firms, but not as expenditureson final goods and services.c. can be computed as expenditures on final goods and services, but not asthe total income paid by firms.d. cannot be computed as either total income paid by firms or expenditureson final goods and services.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Definitional19. A ccording to the circular-flow diagram GDPa. can be computed as either the revenue firms receive from the sales of goodsand services or the payments they make to factors of production.b. can be computed as the revenue firms receive from the sales of goods andservices but not as the payments they make to factors of production.c. can be computed as payments firms make to factors of production but notas revenues they receive from the sales of goods and services.d. cannot be computed as either the revenue firms receive or the payments theymake to factors of production.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Definitional8 ❖Chapter 23/Measuring a Nation's IncomeTHE MEASUREMENT OF GROSS DOMESTIC PRODUCT1. G DP is defined as thea. value of all goods and services produced within a country in a given periodof time.b. value of all goods and services produced by the citizens of a country,regardless of where they are living, in a given period of time.c. value of all final goods and services produced within a country in a givenperiod of time.d. value of all final goods and services produced by the citizens of a country,regardless of where they are living, in a given period of time.ANS: C DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Domestic productionMSC: Definitional2. W hich of the following is a way to compute GDP?a. add up the wages paid to all workersb. add up the quantities of all final goods and servicesc. add up the market values of all final goods and servicesd. add up the difference between the market values of all final goods andservices and then subtract the costs of producing those goods and services ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive3. I n order to include many different goods and services in an aggregate measure,GDP is computed using, primarily,a. values of goods and services based on surveys of consumers.b. market prices.c. quantities purchased by a typical urban household.d. profits from producing goods and services.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive4. G ross domestic product adds together many different kinds of goods and servicesinto a single measure of the value of economic activity. To do this, GDP makes use ofa. market prices.b. statistical estimates of the value of goods and services to consumers.c. prices based on the assumption that producers make no profits.d. the maximum amount consumers would be willing to pay.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive范文范例学习参考5. I n computing GDP, market prices are used to value final goods and servicesbecausea. market prices do not change much over time, so it is easy to make comparisonsbetween years.b. market prices reflect the values of goods and services.c. market prices reflect the quantity sold.d. None of the above is correct; market prices are not used in computing GDP. ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive6. I f the price of a Blu-Ray Disc player is three times the price of an MP3 player,then a Blue-Ray Disc player contributesa. more than three times as much to GDP as does a MP3 player.b. less than three times as much to GDP as does a MP3 player.c. exactly three times as much to GDP as does a MP3 player.d. None of the above is necessarily correct.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative7. S uppose that an economy produces 40,000 units of good A which sells at $4 aunit and 20,000 units of good B which sells at $5 per unit. Production of good A contributesa. 2 times as much to GDP as the production of good B.b. 8/5 times as much to GDP as the production of good B.c. 5/4 times as much to GDP as the production of good B.d. 4/5 times as much to GDP as production of good B.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative8. S uppose that an economy produces 30,000 units of good A which sells at $3 aunit and 60,000 units of good B which sells at $2 per unit. Production of good A contributesa. 1/2 times as much to GDP as the production of good B.b. 3/2 times as much to GDP as the production of good B.c. 3/4 times as much to GDP as the production of good B.d. 4/3 times as much to GDP as production of good B.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative10 ❖Chapter 23/Measuring a Nation's Income9. W hich of the following is included in GDP?a. the market value of rental housing services, but not the market value ofowner-occupied housing services.b. the market value of owner-occupied housing services, but not the marketvalue of rental housing servicesc. both the market value of rental housing services and the market value ofowner-occupied housing servicesd. neither the market value of owner-occupied housing services nor the marketvalue of rental housing services.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Definitional10. T he value of the housing services provided by the economy's owner-occupiedhouses isa. included in GDP, and the estimated rental values of the houses are usedto place a value on these housing services.b. included in GDP, and the actual mortgage payments made on the houses areused to estimate the value of these rental services.c. excluded from GDP since these services are not sold in any market.d. excluded from GDP since the value of these housing services cannot beestimated with any degree of precision.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Definitional11. S uppose an apartment complex converts to a condominium, so that the formerrenters are now owners of their housing units. Suppose further that a current estimate of the value of the condominium owners' housing services is the same as the rent they previously paid. What happens to GDP as a result of this conversion?a. GDP necessarily increases.b. GDP necessarily decreases.c. GDP is unaffected because neither the rent nor the estimate of the valueowner-occupied housing services is included in GDP.d. GDP is unaffected because previously the rent payments were included inGDP and now the rent payments are replaced in GDP by the estimate of the value of owner occupied housing services.ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative12. J ames owns two houses. He rents one house to the Johnson family for $10,000per year. He lives in the other house. If he were to rent the house in which he lives, he could earn $12,000 per year in rent. How much do the housing services provided by the two houses contribute to GDP?a. $0b. $10,000c. $12,000d. $22,000ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative13. R yan lives in an apartment where he pays $7,000 a year in rent. Alexis livesin a house that could be rented for $14,000 a year. How much do these housing services contribute to GDP?a. $21,000b. $14,000c. $7,000d. $0ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative14. M ost goods and services produced at homea. and most goods and services produced illegally are included in GDP.b. are included in GDP while most goods and services produced illegally areexcluded from GDP.c. are excluded from GDP while most goods and services produced illegally areincluded in GDPd. and most goods and services produced illegally are excluded from GDP. ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Household chores | Illegal goods MSC: Definitional15. G DP excludes most items that are produced and sold illegally and most itemsthat are produced and consumed at home becausea. the quality of these items is not high enough to contribute value to GDP.b. measuring them is so difficult.c. the government wants to discourage the production and consumption of theseitems.d. these items are not reported on income tax forms.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Interpretive16. E stimates of the values of which of the following non-market goods or servicesare included in GDP?a. the value of unpaid houseworkb. the value of services provided by major household appliances purchased ina previous periodc. the estimated rental value of owner-occupied homesd. All of the above are included in GDP.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Housing services | Household chores MSC: Applicative17. O ver the last few decades, Americans have chosen to cook less at home and eatmore at restaurants. This change in behavior, by itself, hasa. reduced measured GDP.b. not affected measured GDP.c. increased measured GDP by the value of the restaurant meals.d. increased measured GDP by the value added by the restaurant’s preparationand serving of the meals.ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative18. O ver time, people have come to rely more on market-produced goods and servicesand less on goods and services they produce for themselves. For example, busy people with high incomes, rather than cleaning their own houses, hire people to clean their houses. By itself, this change hasa. caused measured GDP to fall.b. not caused any change in measured GDP.c. caused measured GDP to rise.d. probably changed measured GDP, but in an uncertain direction; the directionof the change depends on the difference in the quality of the cleaning that has resulted.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative19. R alph pays someone to mow his lawn, while Mike mows his own lawn. Regardingthese two practices, which of the following statements is correct?a. Only Ralph’s payments are included in GDP.b. Ralph’s payments as well as the estimated value of Mike’s mowi ng servicesare included in GDP.c. Neither Ralph’s payments nor the estimated value of Mike's mowing servicesis included in GDP.d. Ralph’s payments are included in GDP, while the estimated value of Mike’smowing services is included in GDP only if Mike voluntarily provides his estimate of that value to the government.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Interpretive20. S usan switches from going to Speedy Lube for an oil change to changing the oilin her car herself. Which of the following is correct? The value of changing the oil isa. included in GDP whether Susan pays Speedy Lube to change it or changes itherself.b. included in GDP if Susan pays Speedy Lube to change it but not if she changesit herself.c. included in GDP if Susan changes it herself, but not if she pays SpeedyLube to change it.d. not included in GDP whether Susan pays Speedy lube to change it or shechanges it herself.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative21. R achel babysits for her sister for no pay. When she babysits for someone elseshe charges $8 an hour. When is Rachel’s babysitting included in GDP?a. When she babysits for her sister and when she babysits for someone else.b. When she babysits for her sister, but not when she babysits for someoneelse.c. When she babysits for someone else, but not when she babysits for her sister.d. Neither when she babysits for her sister nor for someone else.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive22. W hich of the following is not included in GDP?a. carrots grown in your garden and eaten by your familyb. carrots purchased at a farmer’s market and eaten by your familyc. carrots purchased at a grocery store and eaten by your familyd. None of the above are included in GDP.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative23. A professional gambler moves from a state where gambling is illegal to a statewhere gambling is legal. Most of his income was, and continues to be, from gambling. His movea. raises GDP.b. decreases GDP.c. doesn't change GDP because gambling is never included in GDP.d. doesn't change GDP because in either case his income is included.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative24.If a state made a previously-illegal activity, such as gambling or prostitution,legal, then, other things equal, GDPa. decreases.b. increases.c. doesn't change because both legal and illegal production are included inGDP.d. doesn't change because these activities are never included in GDP. ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative25. W hich of the following is included in GDP?a. medical marijuana purchased from a government-run pharmacy by a glaucomapatientb. recreational marijuana purchased from a drug dealer by a college studentc. recreational marijuana produced and consumed by a man in his atticd. All of the above are included in GDP.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative26. D arin grows and sells marijuana to Jennifer. Thomas is an organic farmer whosells broccoli to Jennifer. Marijuana is an illegal good and broccoli is a legal good. Assume that if Jennifer marries either, they give her what they。
曼昆经济学原理宏观经济学第六版答案
曼昆经济学原理宏观经济学第六版答案【篇一：曼昆经济学原理(宏观部分答案)】>第二十三章一国收入的衡量复习题 1 ．解释为什么一个经济的收入必定等于其支出? 答：对一个整体经济而言，收入必定等于支出。
因为每一次交易都有两方：买者和卖者。
一个买者的1 美元支出是另一个卖者的1 美元收入。
因此，交易对经济的收入和支出作出了相同的贡献。
由于gdp 既衡量总收入 135 又衡量总支出，因而无论作为总收入来衡量还是作为总支出来衡量，gdp 都相等.2 ．生产一辆经济型轿车或生产一辆豪华型轿车，哪一个对gdp 的贡献更大？为什么? 答：生产一辆豪华型轿车对gdp 的贡献大。
因为gdp 是在某一既定时期一个国家内生产的所有最终物品与劳务的市场价值。
由于市场价格衡量人们愿意为各种不同物品支付的量，所以市场价格反映了这些物品的市场价值。
由于一辆豪华型轿车的市场价格高于一辆经济型轿车的市场价格，所以一辆豪华型轿车的市场价值高于一辆经济型轿车的市场价值，因而生产一辆豪华型轿车对gdp 的贡献更大.3 ．农民以2 美元的价格把小麦卖给面包师。
面包师用小麦制成面包，以3 美元的价格出售。
这些交易对 gdp 的贡献是多少呢? 答：对gdp 的贡献是3 美元。
gdp 只包括最终物品的价值，因为中间物品的价值已经包括在最终物品的价格中了.4 ．许多年以前，peggy 为了收集唱片而花了500 美元。
今天她在旧货销售中把她收集的物品卖了100 美元.这种销售如何影响现期gdp? 答：现期gdp 只包括现期生产的物品与劳务，不包括涉及过去生产的东西的交易。
因而这种销售不影响现期gdp.5 ．列出gdp 的四个组成部分。
各举一个例子.答：gdp 等于消费(c)+投资(i)+政府购买(g)+净出口(nx) 消费是家庭用于物品与劳务的支出，如汤姆一家人在麦当劳吃午餐.投资是资本设备、存货、新住房和建筑物的购买，如通用汽车公司建立一个汽车厂.政府购买包括地方政府、州政府和联邦政府用于物品与劳务的支出，如海军购买了一艘潜艇.净出口等于外国人购买国内生产的物品(出口)减国内购买的外国物品(进口)。
曼昆宏观经济学英语课后题答案
曼昆宏观经济学英语课后题答案CHAPTER 23: MEASURING A NATION’S INCOMETrue/FalseIndicate whether the statement is true or false.1. T he circular flow diagram describes all transactions between households and firms in asimple economy and shows the equality of expenditures and income.ANSWER: TPOINTS: 0 / 12. G ross domestic product includes most items produced and sold illicitly.ANSWER: FPOINTS: 0 / 13. N et national product is the total income of a nation’s residents minus losses fro mdepreciation.ANSWER: TPOINTS: 0 / 14. D isposable personal income is the income that households and unincorporated businesshave left after satisfying all their obligations to the government. It equals personal income minus personal taxes and certain non-tax payments to government.ANSWER: TPOINTS: 0 / 15. T he purchase of new houses by households is included in the calculation of personalconsumption expenditures of GDP.ANSWER: FPOINTS: 0 / 1Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. W hen GDP falls,a. income and expenditure must both fall.b. income and expenditure can both rise.c. income must fall, but expenditure may rise or fall.d. expenditure must fall, but income may rise or fall.ANSWER: APOINTS: 0 / 12. I ncome equals expenditure becausea. firms always pay out all their revenue as income to someone.b. each time a sale is made, there is a buyer and a seller.c. households own the factors of production used to generate incomes.d. All of the above are correct.ANSWER: BPOINTS: 0 / 13. I f a province makes the production and sale of illicit drugs legal, then GDPa. must increase.b. must decrease.c. wouldn't change.d. may increase or decrease.ANSWER: APOINTS: 0 / 14. W hen a government provides subsidies to encourage growth of small businesses, thesubsidies woulda. be included in GDP because they are invested by businesses.b. be included in GDP because they are a form of government spending.c. not be included in GDP because they are transfer payments.d. may or may not be included in GDP, depending on how the funds are used.ANSWER: CPOINTS: 0 / 15. D iesel fuel isa. always considered a final good.b. counted as an intermediate good if a company uses it to provide transportationservices.c. counted as a final good if a farmer uses it to run a tractor to grow crops.d. Both b and c are correct.ANSWER: BPOINTS: 0 / 16. G ross domestic producta. is the market value of all final goods and services produced within a country in agiven period (usually a year)b. is the income in the hands of individuals after deducting income taxes; incomeavailable to households to spend and savec. is the value of goods and services purchased by all levels of government—federal, provincial, and local—in a given periodd. is the market value of all final goods and services produced by permanentresidents of a nation in a given time periodANSWER: APOINTS: 0 / 17. M acroeconomics is that branch of economics that studiesa. the conditions of individual marketsb. the influence of governments on individual marketsc. economy-wide phenomenad. only the private sector of the economyANSWER: CPOINTS: 0 / 18. S uppose that nominal GDP is $6,000 billion and real GDP is $3,000. What is the GDP pricedeflator?a. 125b. 150c. 200d. 250ANSWER: CPOINTS: 0 / 19. T he purchase of final goods and services by households is calleda. investmentb. public sector expenditurec. consumptiond. net exportsANSWER: CPOINTS: 0 / 110. I nvestment is the purchase of capital equipment, inventories, anda. structuresb. non-durable goodsc. depreciationd. import investmentANSWER: APOINTS: 0 / 111. T ransfer paymentsa. are included in GDP because they are forms of incomeb. are included in GDP because goods and services have been produced in thetransferc. are NOT included in the GDP because goods and services have not been producedin the transferd. are included in GDP because they represent the production of transfers of goodsand services to foreign countriesANSWER: CPOINTS: 0 / 112. W hich of the following would be considered consumption expenditure?a. The Smiths buy a home built in 1990.b. The federal government pays the salary of a captain in the Armed Forces.c. The Hostlers buy a new car that was manufactured in Germany.d. The government buys food for its armed forces.ANSWER: CPOINTS: 0 / 113. T he method that measures GDP in relationship to the size of the population is calleda. GNPb. worker GDPc. GDP per persond. capital GDPANSWER: CPOINTS: 0 / 114. T he components of GDP area. C + I + Gb. NX + G + Cc. C + G + NXd. C + I + G + NXANSWER: DPOINTS: 0 / 115. S uppose nominal GDP is $7700 and the GDP deflator is 110. Real GDP isa. $7700b. $7000c. $847,000d. $8470ANSWER: BPOINTS: 0 / 1Short Answer1. W hat are the components of gross domestic product (GDP)?RESPONSE:ANSWER: The components of GDP are: (1) consumption spending by households on goods and services, with the exception of purchases of new housing; (2)Investment spending on capital equipment, inventories, and structures,including household purchases of new housing; (3) government purchasesor spending on goods and services by the local, provincial, and federal levelsgovernments; and (4) net exports which is spending on domesticallyproduced goods and services by foreigners (exports) minus spending onforeign goods and services by domestic resident (imports).POINTS: -- / 12. D ifferentiate between gross domestic product (GDP) and gross national product (GNP).RESPONSE:ANSWER: GDP is the value of all final goods and services produced within a country ina given year; while GNP is the total income earned by a nation’s permanentresidents or nationals (that is, Canadians). GNP differs from GDP byincluding income that citizens of the nation (Canada) earned aboard, andexcluding income that foreigners earn in the particular country (E.g. inCanada).POINTS: -- / 13. D ifferentiate between real GDP and nominal GDP.RESPONSE:ANSWER: Nominal GDP is the value of all final goods and services produced within a country in a year and valued at current prices; and real GDP is the GDPvalued at constant base year prices. Real GDP is not affected by changes inthe level of prices, so it reflects only changes in the amounts being produced.POINTS: -- / 14. E xplain why GDP is not considered a perfect measure of well- being?RESPONSE:ANSWER: GDP is not considered a perfect measure of well-being because some of the factors that contribute to a good life are omitted. These would include:leisure time, the quality of the environment, the distribution of income, andthe production of goods and services that did not pas through the market (forexample, housework done by the homemaker, and volunteer work) POINTS: -- / 15. H ow do economists measure economic growth?RESPONSE:ANSWER: Economists measure economic growth as the percentage change in real GDP from one period to another. This is because changes in real GDP reflect onlychanges in the amounts being produced.POINTS: -- / 1CHAPTER 24: MEASURING THE COST OF LIVINGTrue/FalseIndicate whether the statement is true or false.1. T he GDP deflator reflects the prices of goods and services bought by consumers, and theconsumer price index reflects the price of all final goods and services produceddomestically.ANSWER: FPOINTS: 0 / 12. T he consumer price index compares the price of a fixed basket of goods and services to theprice of the basket in the base year. On the other hand, the GDP deflator compares the price of currently produced goods and services to the price of the same goods and services in the base years.ANSWER: TPOINTS: 0 / 13. I ndexation refers to the automatic correction of a dollar amount for the effects of inflation bylaw or contract.ANSWER: TPOINTS: 0 / 14. L ong term contracts between firms and unions will sometimes include partial or completeindexation of the wage to the consumer price index. This is called a cost-of-living allowance clause.ANSWER: TPOINTS: 0 / 15. T he core inflation rate is the consumer price index with the exclusion of the most volatilecomponents such as energy and food.ANSWER: TPOINTS: 0 / 1Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. I n the CPI, goods and services are weighted according toa. how much a typical consumer buys of each item.b. whether the items are necessities or luxuries.c. how much of each item is produced in the domestic economy.d. how much is spent on them in the national income accounts.ANSWER: APOINTS: 0 / 12. B y not taking into account the possibility of consumer substitution, the CPIa. understates the standard of living.b. overstates the cost of living.c. neither overstates nor understates the cost of living.d. doesn't accurately reflect the cost of living, but it is unclear if it overstates orunderstates the cost of living.ANSWER: BPOINTS: 0 / 13. I f the prices of Brazilian-made shoes imported into Canada increases, thena. both Canada’s GDP deflator and it’s consumer price index will increase.b. neither Canada’s GDP deflator nor it’s consumer price index will increase.c. Canada’s GDP defl ator will increase but its CPI will not increase.d. Canada’s consumer price index will increase, but its GDP deflator won’t change.ANSWER: DPOINTS: 0 / 14. I f increases in the prices of Canadian car insurance causes the CPI to increase by 3 percent,the GDP deflator will likely increase bya. more than 3 percent.b. 3 percent.c. less than 3 percent.d. All of the above are correct.ANSWER: CPOINTS: 0 / 15. T he real interest rate tells youa. how quickly your savings account will grow.b. how quickly the purchasing power of your savings account will grow.c. the size of your savings account.d. the purchasing power of your savings account.ANSWER: BPOINTS: 0 / 16. I nflation refers toa. a temporary increase in the price level due to higher tax ratesb. a large increase in food and gasoline pricesc. a situation in which the economy's overall price level is risingd. an increase in the purchasing power of the dollarANSWER: CPOINTS: 0 / 17. I f nominal interest rates increase from 8 percent to 10 percent while inflation increases from3 percent to 12 percenta. the real interest rate falls from 5 percent to –2 percentb. the real interest rate rises from –2 percent to 5 percentc. the real interest rate falls from 8 percent to 12 percentd. the real interest rate rises from 8 percent to 12 percentANSWER: APOINTS: 0 / 18. I f the nominal rate of interest is 10 percent and the rate of inflation is 3 percent, what is thereal rate of interest?a. 13 percentb. 7 percentc. 3 percentd. –7 percentANSWER: BPOINTS: 0 / 19. T he consumer price index:a. measures price changes of raw materialsb. adjusts all prices of goods and services for five-year periodsc. measures the cost of goods and services bought by a typical consumerd. cannot measure price changes of intangible production such as servicesANSWER: CPOINTS: 0 / 110. I f the consumer price index (CPI) at the end of 1996 was 125 and the CPI at the end of 1997was 131, then the rate of inflation during 1997 wasa. zero – prices were stable during 1997b. 4.8 percentc. 6.0 percentd. 125 percentANSWER: BPOINTS: 0 / 111. F rank's nominal income in 1998 is $45,000. Suppose the CPI in 1998 is 150. What is Frank'sreal income?a. $51,750b. $45,000c. $38,250d. $30,000ANSWER: DPOINTS: 0 / 112. A change in the price of imports bought by consumers will bea. reflected in the GDP deflatorb. reflected in GDPc. reflected in the CPId. reflected in net national incomeANSWER: CPOINTS: 0 / 113. A ll of the following but one are problems associated with the CPIa. substitution biasb. the introduction of new goods and servicesc. unmeasured quality changesd. The CPI is not based on a fixed basket of goods and servicesANSWER: DPOINTS: 0 / 114. W hich of the following is correct?a. The CPI is not based on a fixed basket of goods and services.b. The GDP deflator reflects the prices of all domestically produced goods andservices.c. The GDP deflator is based on a fixed basket of goods and services.d. The GDP deflator is subject to substitution bias.ANSWER: BPOINTS: 0 / 115. T he inflation ratea. is a measure of the cost of a basket of goods and services bought by firmsb. is the absolute change in prices between yearsc. is the percentage change in the price index from the preceding periodd. measures changes in incomes from one year to the nextANSWER: CPOINTS: 0 / 1Short Answer1. W hat is the consumer price index (CPI)? What are the three major items included in the CPI?RESPONSE:ANSWER: The CPI is a measure of the overall cost of the goods and services bought by a typical consumer. The three major items included in the CPI are shelter,transportation and food.POINTS: -- / 12. H ow is the CPI computed?RESPONSE:ANSWER: First the basket of goods and services must be determined and also the relative importance of the various items to be included in the basket. Then the prices ofthe various items in the basket are determined. The cost of the basket is thendetermined using the data on prices and quantity. The base year is chosen, andthe index for the base year is computed using the quantities in the basket andthe base year prices. The index is calculated by taking the price of the basket inthe each year and dividing this by the price of the basket in the base year. Thisratio is then multiplied by 100.POINTS: -- / 13. D ifferentiate between the nominal rate of interest and the real rate of interest.RESPONSE:ANSWER: The nominal interest rate is the interest rate as usually reported without a correction for the effects of inflation. The real interest rate is the interest ratecorrected for the effects of inflation. The real interest rate = nominal interest rateminus the inflation rate.POINTS: -- / 14. W hat is meant by the inflation rate? If the CPI in 1996 was 107.6 and in 1995 was 105.9,calculate the inflation rate for 1996.RESPONSE:ANSWER: The inflation rate is the percentage change in the price index from the preceding period. The inflation rate for 1996 would be:POINTS: -- / 15. W hat are the problems associated with using the consumer price index to measure the costof living?RESPONSE:ANSWER: The problems are: (1) Prices do not change proportionately. Consumers respond by buying less of the goods whose prices have risen by large amountsand by buying more of the goods whose price have risen by less, or even fallen.The index is computed using a fixed basket of items, so theses changes inquantity would not be reflected in the basket. This is referred to as thesubstitution bias. (2) The CPI is developed using a fixed basket of goods andservices, when new products are introduced during the time period that aparticular fixed basket is being used, these new products will not be included incalculation of the index. (3) The CPI does not measure quality changes. If thequality of a good deteriorates from one year to the next, the value of the dollarfalls, even if the price of the good stays the same. Likewise, if the quality of thegood increases from one year to the next, the value of a dollar also rises.Statistics Canada will try to adjust the price of the good to account for thequality change, but it is very difficult to measure quality.POINTS: -- / 1CHAPTER 25: PRODUCTION AND GROWTHTrue/FalseIndicate whether the statement is true or false.1. O ne way to raise future productivity is to invest less current resources in the production ofcapital.ANSWER: FPOINTS: 0 / 12. D iminishing returns occur when the benefits from an extra unit of output declines as thequantity of output declines.ANSWER: FPOINTS: 0 / 13. M althusian theory states that an ever-increasing population would continually strainsociety’s ability to provide for itself. This doomed human beings to forever live in poverty.ANSWER: TPOINTS: 0 / 14. P roductivity growth is measured by real output per worker.ANSWER: TPOINTS: 0 / 15. T he primary reason that living standards are higher today than they were a century ago isthat technological knowledge has advanced.ANSWER: TPOINTS: 0 / 1Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. O f the following countries, which grew the slowest over the last 100 years?a. Brazil.b. Mexico.c. Singapore.d. United States.ANSWER: DPOINTS: 0 / 12. O n average, each year of schooling raises a person's wage in Canada by abouta. 3 percent.b. 10 percent.c. 15 percent.d. 25 percent.ANSWER: BPOINTS: 0 / 13. T he primary reason that Canadian living standards are higher today than they were acentury ago is thata. more productive natural resources have been discovered.b. physical capital per worker has increased.c. technological knowledge has increased.d. human capital has increased.ANSWER: CPOINTS: 0 / 14. M any countries in Africa have low growth rates. This is partly due toa. few natural resourcesb. high trade barriers.c. low incomes, making it very difficult for them to grow.d. All of the above are correct.ANSWER: BPOINTS: 0 / 15. A government can encourage growth and, in the long run, raise the economy’s standard ofliving by encouraginga. population growth.b. consumption spending.c. saving and investment.d. trade restrictions.ANSWER: CPOINTS: 0 / 16. D iminishing returns is the notion thata. as the stock of capital ages, the extra output produced decreasesb. as the stock of capital is increased, the extra output produced from an additionalunit of capital fallsc. as resources are used to produce capital goods, fewer additional capital goodscan be producedd. you always get what you pay forANSWER: BPOINTS: 0 / 17. C ompared with richer countries, poorer countries are generally characterized bya. high real GDP per personb. political stabilityc. rapid population growthd. strongly enforced property rightsANSWER: CPOINTS: 0 / 18. W hich one of the following countries would most likely be considered a poorer nation,using real GDP/person?a. Canadab. Germanyc. Japand. IndiaANSWER: DPOINTS: 0 / 19. W hich of the following factors would be most likely to encourage capital formation in apoorer nation?a. the expectation of sustained high rates of inflation in the futureb. the expectation that property rights will remain securec. the expectation that a struggle between capitalist and socialist forces will lead tomajor structural change in the economyd. an increase in corporate taxes in order to finance an expanded governmentwelfare programANSWER: BPOINTS: 0 / 110. W hich of the following is most likely to cause the productivity of labour to increase?a. higher money wage ratesb. a higher rate of investment in human and physical capitalc. more flexible working hours and improved retirement plansd. none of the aboveANSWER: BPOINTS: 0 / 111. S uppose that factory output rose from 50,000 units to 55,000 units while labour hours rosefrom 1100 to 1200. Which of the following is true?a. Labour productivity remained unchanged.b. Labour productivity increased slightly.c. Labour productivity decreased slightly.d. Labour productivity increased sharply.ANSWER: BPOINTS: 0 / 112. W hich of the following would be most likely to cause the real income per person of poorercountries to rise?a. a more rapid population growthb. a rapid rate of inflationc. an international minimum-wage lawd. an increase in foreign investment that enhanced the productivity of the labourforceANSWER: DPOINTS: 0 / 113. I f a production function has constant returns to scale, then:a. doubling inputs will double output.b. doubling inputs will triple output.c. doubling inputs will cause output to increase, but the increase in output will beless than the increase in inputs.d. doubling inputs will decrease output.ANSWER: APOINTS: 0 / 114. T he most important source of rising living standards over time is:a. the increase in the size of the labour force.b. the increase in the labour force participation rate.c. the increase in productivity.d. the increase in human capital—the skills embodied in the work force.ANSWER: CPOINTS: 0 / 1Short Answer1. W hat is productivity and why is it important?RESPONSE:ANSWER: Productivity is the amount of goods and services produced from each hour ofa worker’s time. It is the major determinant of the standard of living of acountry.POINTS: -- / 12. H ow is productivity determined?RESPONSE:ANSWER: Productivity is determined by a country’s physical capital, human capital, natural resources and technological knowledge.POINTS: -- / 13. W hat is the World Bank and what are its functions?RESPONSE:ANSWER: The World Bank is an international organization that among other thingsencourages the flow of capital to poor countries. It obtains funds from theworld’s advance counties and loans them to less developed countries so thatthey can invest in capital infrastructure. The World Bank offers advice todeveloping countries on how the funds might best be used.POINTS: -- / 14. W hat are property rights? What role does property rights play in economic growth?RESPONSE:ANSWER: Property rights refer to the ability of people to exercise authority over theresources they own. There must be an economy-wide respect for propertyrights for the price system or the free market to work. Lack of respect forproperty rights or the enforcement of property rights would not only causepolitical instability but would also discourage savings and investment. Theseare necessary for economic growth.POINTS: -- / 15. D ifferentiate between inward-oriented policies and outward-oriented policies.RESPONSE:ANSWER: Inward-oriented policies are aimed at raising productivity and livingstandards within a county by avoiding interaction with the rest of the world.This approach involves the protection of domestic industries to allow them todevelop and grow without competition from foreign firms. Outward-orientedpolicies are designed to integrate countries into the world economy asinternational trade is considered to be a factor in generating economicgrowth.POINTS: -- / 1CHAPTER 26: SAVING, INVESTMENT, AND THE FINANCIAL SYSTEMTrue/FalseIndicate whether the statement is true or false.1. P rivate savings are the tax revenue that the government has left after paying for itsspending; and public savings is the income that households have left after paying for taxes and consumption.ANSWER: FPOINTS: 0 / 12. A budget deficit is an excess of tax revenue over government spending; and a budgetsurplus is a shortfall of tax revenue from government spending.ANSWER: FPOINTS: 0 / 13. A budget surplus decreases the supply of loanable funds, increases the interest rate, andstimulates investment.ANSWER: FPOINTS: 0 / 14. T he financial system is the group of institutions in the economy that help to match oneperson’s savings with another person’s investment.ANSWER: TPOINTS: 0 / 15. A mutual fund is an institution that sells shares to the public and uses the proceeds to buya selection, or portfolio, of various types of stocks, bonds, or both stocks and bonds.ANSWER: TPOINTS: 0 / 1Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. W hich of the following is correct?a. Lenders buy bonds and borrowers sell them.b. Long-term bonds usually pay a lower interest rate than do short-term bondsbecause long-term bonds are riskier.c. Junk bonds refer to bonds that have been resold many times.d. None of the above are correct.ANSWER: APOINTS: 0 / 12. I n a closed economy, national saving equalsa. investment.b. income minus the sum of consumption and government expenditures.c. private saving plus public saving.d. All of the above are correct.ANSWER: DPOINTS: 0 / 13. I f the current market interest rate for loanable funds is below the equilibrium level, thenthere is aa. shortage of loanable funds and the interest rate will rise.b. surplus of loanable funds and the interest rate will rise.c. shortage of loanable funds and the interest rate will fall.d. surplus of loanable funds and the interest rate will fall.ANSWER: APOINTS: 0 / 14. S uppose that Parliament were to introduce a new investment tax credit. What wouldhappen in the market for loanable funds?a. The demand for loanable funds would shift left and interest rates fall.b. The demand for loanable funds would shift right and interest rates rise.c. The supply of loanable funds would shift left and interest rates rise.d. The supply of loanable funds would shift right and interest rates fall.ANSWER: BPOINTS: 0 / 15. I f Canada increases its budget deficit, it will reducea. private saving and so shift the supply of loanable funds left.b. investment and so shift the demand for loanable funds left.c. public saving and so shift the supply of loanable funds left.d. None of the above are correct.ANSWER: CPOINTS: 0 / 16. C rowding out refers toa. the increase in national saving that occurs when government runs a deficitb. the decrease in the real interest rates due to government borrowingc. a reduction in investment spending resulting from government borrowingd. a decrease in consumption spending resulting from government borrowingANSWER: CPOINTS: 0 / 17. F or a bank to be profitable, the loans it makes must _____ than the _____ obtaining funds.a. cost more; price ofb. pay less interest; total revenue fromc. make more interest; total cost ofd. be less profitable; total revenue fromANSWER: CPOINTS: 0 / 18. L arge budget deficits will likelya. increase the nation's pool of savingb. decrease the nation's pool of savingc. have no impact on the nation's pool of savingd. improve the nation's trade balanceANSWER: BPOINTS: 0 / 19. T he supply curve of loanable funds isa. upward-sloping, reflecting the fact that savers need a higher rate of interest to coaxthem into lending moreb. downward-sloping, reflecting the fact that savers will increase their supply forloanable funds at lower rates of interestc. upward-sloping, reflecting the fact that savers will increase their saving at lowerrates of interestd. None of the aboveANSWER: APOINTS: 0 / 110. L oanable funds area. the money in banks and other financial institutionsb. the amount of credit availablec. equal to the total value of capital in the economyd. available only to businessesANSWER: BPOINTS: 0 / 111. I f the market for loanable funds is not in equilibrium, which of the following factors mustchange to bring it to equilibrium?a. outputb. profitsc. the inflation rated. the interest rateANSWER: DPOINTS: 0 / 112. I n the market for loanable fundsa. higher interest rates discourage savingsb. lower interest rates encourage investmentc. lower interest rates make borrowers worse offd. higher interest rates increase the demand for loanable fundsANSWER: BPOINTS: 0 / 113. B anks。
曼昆经济学原理英文第六版答案
曼昆经济学原理英文第六版答案【篇一：曼昆经济学原理英文版文案加习题答案8章】ation a new in the news box on ―the tax debate‖ has been added.by the end of this chapter, students should understand:? how taxes reduce consumer and producer surplus.? the meaning and causes of the deadweight loss from a tax. ? why some taxes have larger deadweight losses than others. ? how tax revenue and deadweight loss vary with the size of a tax.chapter 8 is the second chapter in a three-chapter sequence dealing with welfare economics. in theprevious section on supply and demand, chapter 6 introduced taxes and demonstrated how a tax affects the price and quantity sold in a market. chapter 6 also described the factors that determine how the burden of the tax is divided between the buyers and sellers in a market. chapter 7 developed welfare economics—the study of how the allocation of resources affects economic well-being. chapter 8 combines the lessons learned in chapters 6 and 7 and addresses the effects of taxation on welfare. chapter 9 will address the effects of trade restrictions on welfare. the purpose of chapter 8 is to apply the lessons learned about welfare economics in chapter 7 to the issue of taxation that was addressed in chapter 6. students will learn that the cost of a tax to buyers and sellers in a market exceeds the revenue collected by the government. students will also learn about the factors that determine the degree by which the cost of a tax exceeds the revenue collected by the government.144? a tax on a good reduces the welfare of buyers and sellers of the good, and the reduction in consumer and producer surplus usually exceeds the revenue raised by the government. the fall in total surplus—the sum of consumer surplus, producer surplus, and tax revenue—is called thedeadweight loss of the tax.taxes have deadweight losses because they cause buyers to consume less and sellers to produce less, and these changesin behavior shrink the size of the market below the level that maximizes total surplus. because the elasticities of supply and demand measure how much market participants respond to market conditions, larger elasticities imply larger deadweight losses.as a tax grows larger, it distorts incentives more, and its deadweight loss grows larger. because a tax reduces the size of a market, however, tax revenue does not continually increase. it first rises with the size of a tax, but if the tax gets large enough, tax revenue starts to fall. ? ?i. the deadweight loss of taxationa. remember that it does not matter who a tax is levied on; buyers and sellers will likely share inthe burden of the tax.b. if there is a tax on a product, the price that a buyer pays will be greater than the price the sellerreceives. thus, there is a tax wedge between the two prices and the quantity sold will be smaller if there was no tax.c. how a tax affects market participants1. we can measure the effects of a tax on consumers by examining the change in consumersurplus. similarly, we can measure the effects of the tax on producers by looking at the change in producer surplus.then the benefit from the tax revenue must not be ignored.3. welfare without a taxa. consumer surplus is equal to: a + b + c.b. producer surplus is equal to: d + e + f.c. total surplus is equal to: a + b + c + d + e + f. 4. welfare with a tax a. consumer surplus is equal to: a.b. producer surplus is equal to: f.5. changes in welfare a. consumer surplus changes by: –(b +c). b. producer surplus changes by: –(d + e). c. tax revenue changes by: +(b + d). d. total surplus changes by: –(c + e). 6. definition of distortion, such as a tax. d. deadweight losses and the gains from tradec. tax revenue is equal to: b +d. d. total surplus is equal to: a +b + d + f.1. taxes cause deadweight losses because they prevent buyers and sellers from benefiting fromtrade.2. this occurs because the quantity of output declines; trades that would be beneficial to both the buyer and seller will nottake place because of the tax.3. the deadweight loss is equal to areas c and e (the drop intotal surplus).4. note that output levels between the equilibrium quantity without the tax and the quantitywith the tax will not be produced, yet the value of these unitsto consumers (represented by the demand curve) is larger than the cost of these units to producers (represented by the supply curve).ii. the determinants of the deadweight lossa. the price elasticities of supply and demand will determinethe size of the deadweight loss that occurs from a tax. 1. givena stable demand curve, the deadweight loss is larger when supply is relatively elastic.2. given a stable supply curve, the deadweight loss is larger when demand is relatively elastic. b. case study: the deadweight loss debate1. social security tax and federal income tax are taxes onlabor earnings. a labor tax places a tax wedge between thewage the firm pays and the wage that workers receive.2. there is considerable debate among economists concerning the size of the deadweight lossfrom this wage tax.3. the size of the deadweight loss depends on the elasticity of labor supply and demand, andthere is disagreement about the magnitude of the elasticity of supply.【篇二：曼昆经济学原理英文版文案加习题答案31章】basic conceptsthere is a new in the news feature on the changing nature of u.s. exports and an updated presentation of the u.s. trade deficit.by the end of this chapter, students should understand:??how net exports measure the international flow of goodsand services.??how net capital outflow measures the international flow of capital.??why net exports must always equal net foreign investment.??how saving, domestic investment, and net capital outflow are related.??the meaning of the nominal exchange rate and the real exchange rate.??purchasing-power parity as a theory of how exchange rates are determined.chapter 18 is the first chapter in a two-chapter sequence dealing with open-economy macroeconomics. chapter 18 develops the basic concepts and vocabulary associated with macroeconomics in an international setting: net exports, net capital outflow, real and nominal exchange rates, and purchasing-power parity. the next chapter, chapter 19, builds an open-economy macroeconomic model that shows how these variables are determined simultaneously.the purpose of chapter 18 is to develop the basic concepts macroeconomists use to study open economies. it addresses why a nation’s net exports must equal its net capital outflow. it also addresses the concepts of the real and nominal exchange rate and develops a theory of exchange ratedetermination known as purchasing-power parity.298??net exports are the value of domestic goods and services sold abroad (exports) minus the value offoreign goods and services sold domestically (imports). net capital outflow is the acquisition of foreign assets by domestic residents (capital outflow) minus the acquisition of domestic assets by foreigners (capital inflow). because every international transaction involves an exchange of an asset for a good or service, an economy’s net capital outflow always equals its net exports.an economy’s saving can be used to finance investment at home or buy assets abroad. thus, national saving equals domestic investment plus net capital outflow.the nominal exchange rate is the relative price of the currency of two countries, and the real exchange rate is the relative price of the goods and services of two countries. when the nominal exchange rate changes so that each dollar buys more foreign currency, the dollar is said to appreciate or strengthen. when the nominal exchange rate changes so that each dollarbuys less foreign currency, the dollar is said to depreciate or weaken.according to the theory of purchasing-power parity, a dollar (or a unit of any other currency) should be able to buy the same quantity of goods in all countries. this theory implies that the nominal exchange rate between the currencies of two countries should reflect the price levels in those countries. as a result, countries with relatively high inflation should have depreciating currencies, and countries with relatively low inflation should have appreciating currencies. ?? ?? ??i. we will no longer be assuming that the economy is a closed economy.a. definition of in the world.b. definition of around the world.ii. the international flows of goods and capitala. the flow of goods: exports, imports, and net exports1. definition of abroad.2. definition of domestically.imports, also called the trade balance.4. definition of : the value of a nation’s exports minus the value of its imports, also called net exports.5. definition of .6. definition of .7. definition of .8. there are several factors that influence a country’s exports, imports, and net exports:a. the tastes of consumers for domestic and foreign goods.b. the prices of goods at home and abroad.c. the exchange rates at which people can use domestic currency to buy foreign currencies.d. the incomes of consumers at home and abroad.e. the cost of transporting goods from country to country.f. government policies toward international trade.9. case study: the increasing openness of the u.s. economy a. figure 1 shows the total value of exports and imports (expressed as a percentage of gdp) for the united states since 1950. b. advances in transportation, telecommunications, and technological progress are some of the reasons why international trade has increased over time. c. policymakers around the world have also become more accepting of freetrade over time. 10. in the news: the changing nature of u.s. exports a. growing u.s. exports include entertainment royalties, tourism, travel, and services. b. this article from the wall street journal describes the growth in new exports. b. the flow of financial resources: net capital outflow1. definition of residents minus the purchase of domestic assets by foreigners.2. the flow of capital abroad takes two forms. a. foreign direct investment occurs when a capital investment is owned and operated by a foreign entity.b. foreign portfolio investment involves an investment that is financed with foreign money but operated by domestic residents.3. net capital outflow can be positive or negative.a. when net capital outflow is positive, domestic residents are buying more foreign assets than foreigners are buying domestic assets. capital is flowing out of the country.b. when net capital outflow is negative, domestic residents are buying fewer foreign assets than foreigners are buying domestic assets. the country is experiencing a capital inflow. 4. there are several factors that influence a country’s net capital outflow:a. the real interest rates being paid on foreign assets.b. the real interest rates being paid on domestic assets.c. the perceived economic and political risks of holding assets abroad.d. the government policies that affect foreign ownership of domestic assets.c. the equality of net exports and net capital outflow1. net exports and net capital outflow each measure a type of imbalance in a world market.a. net exports measure the imbalance between a country’s exports and imports in world markets for goods and services.b. net capital outflow measures the imbalance between the amount of foreign assets bought by domestic residents andthe amount of domestic assets bought by foreigners inworld financial markets.2. for an economy, net exports must be equal to net capital outflow.3. example: you are a computer programmer who sells some software to a japanese consumer for 10,000 yen. a. thesale is an export of the united states so u.s. net exports increase.b. there are several things you could do with the 10,000 yenc. you could hold the yen (which is a japanese asset) or use it to purchase another japanese asset. either way, u.s. net capital outflow rises.d. alternatively, you could use the yen to purchase a japanese good. thus, u.s. imports will rise so the net effect on net exports will be zero.e. one final possibility is that you could exchange the yen for dollars at a bank. this doesnot change the situation though, because the bank then must use the yen for something.alternative classroom example: assume that u.s. residents do not want to buy any foreign assets, but foreign residents want to purchase some stock in a u.s. firm (such as microsoft). how are the foreigners going to get the dollars to purchase the stock? they would do it the same way u.s. residents would purchase the stock—they would have to earn more than they spend. in other words, foreigners must sell the united states more goods and services than they purchase from the united states. this leads to negative net exports for the united states. the extra dollars spent by u.s. residents on foreign-produced goods and services would be used to purchase the stock in microsoft. 4. this example can be generalized to the economy as a whole.a. when a nation is running a trade surplus (nx 0), it must be using the foreign currencyto purchase foreign assets. thus, capital is flowing out of the country (nco 0).b. when a nation is running a trade deficit (nx 0), it must be financing the net purchase of these goods by selling assets abroad. thus, capital is flowing into the country (nco0).5. every international transaction involves exchange. when a seller country transfers a good orservice to a buyer country, the buyer country gives up some asset to pay for the good or service.6. thus, the net value of the goods and services sold by a country (net exports) must equal thenet value of the assets acquired (net capital outflow).d. saving, investment, and their relationship to the international flows1. recall that gdp (y ) is the sum of four components: consumption (c ), investment (i ),government purchases (g ) and net exports (nx ).【篇三：曼昆宏观经济学课后答案(英文版)】quizzes:1. gross domestic product measures two things at once: (1) the total income of everyonein the economy; and (2) the total expenditure on the economy’s output of goods and services. it can measure both of these things at once because income must equal expenditure for the economy as a whole.2. the production of a pound of caviar contributes more to gdp than the production of apound of hamburger because the contribution to gdp is measured by market value and the price of a pound of caviar is much higher than the price of a pound of hamburger.3. the four components of expenditure are: (1) consumption;(2) investment; (3)government purchases; and (4) net exports. the largest component is consumption, which accounts for more thantwo-thirds of total expenditure.4. nominal gdp is the production of goods and services valued at current prices. realgdp is the production of goods and services valued at constant prices. real gdp is a better measure of economicwell-being because it reflects the eco nomy’s ability to satisfy people’s needs and desires. thus a rise in real gdp means people have produced more goods and services, but a rise in nominal gdp could occur either because of increased production or because of higher prices.5. although gdp is not a perfect measure of well-being, policymakers should care about itbecause a larger gdp means that a nation can afford better health care, better educational systems, and more of the material necessities of life.questions for review:1.2.3.4. an economys income must equal its expenditure, since every transaction has a buyer and a seller. thus, expenditure by buyers must equal income by sellers. the production of a luxury car contributes more to gdp than the production of an economy car because the luxury car has a higher market value. the contribution to gdp is $3, the market value of the bread, which is the final good that is sold. the sale of used records does not affect gdp at all because it involves no current production.5. the four components of gdp are consumption, such as the purchase of a music cd;investment, such as the purchase of a computer by a business; government purchases, such as an order for military aircraft; and net exports, such as the sale of american wheat to russia.6. economists use real gdp rather than nominal gdp to gauge economic well-beingbecause real gdp is not affected by changes in prices, so it reflects only changes in the amounts being produced. if nominal gdp rises, you do not know if that is because of increased production or higher prices.7.the percentage change in nominal gdp is (600-200)/200 x 100 = 200%. the percentage change in real gdp is (400-200)/200 x 100 = 100%. the percentage change in the deflator is (150-100)/100 x 100 = 50%.8. it is desirable for a country to have a large gdp because people could enjoy more goodsand services. but gdp is not the only important measure of well-being. for example, laws that restrict pollution cause gdp to be lower. if laws against pollution were eliminated, gdp would be higher but the pollution might make us worse off. or, for example, an earthquake would raise gdp, as expenditures on cleanup, repair, and rebuilding increase. but an earthquake is an undesirable event that lowers our welfare.problems and applications:1. a. consumption increases because a refrigerator is a good purchased by ahousehold.b. investment increases because a house is an investment good.c. consumption increases because a car is a good purchased by a household, butinvestment decreases because the car in ford’s inventory had been counted as aninvestment good until it was sold.d. consumption increases because pizza is a good purchased by a household.e. government purchases increase because the government spent money to providea good to the public.f. consumption increases because the bottle is a good purchased by a household,but net exports decrease because the bottle was imported.g. investment increases because new structures and equipment were built.2.3. with transfer payments, nothing is produced, so there is no contribution to gdp. purchases of new housing are included in the investment portion of gdp because housingprovides services for a long time. for the same reason, purchases of new cars could be thought of as investment, but by convention, they are not. the logic could apply to any durable good, such as household appliances.if gdp included goods that are resold, it would be counting output of that particular year, plus sales of goods produced ina previous year. it would double-count goods that were sold more than once and would count goods in gdp for severalyears if they were produced in one year and resold in another. 4.5. a. 2001: ($1 per qt. of milk ? 100 qts. milk) + ($2 per qt. of honey ? 50 qts. honey)= $2002002: ($1 per qt. of milk ? 200 qts. milk) + ($2 per qt. of honey ? 100 qts.honey) = $4002003: ($2 per qt. of milk ? 200 qts. milk) + ($4 per qt. of honey ? 100 qts.honey) = $8002001: ($1 per qt. of milk ? 100 qts. milk) + ($2 per qt. ofhoney ? 50 qts. honey)= $2002002: ($1 per qt. of milk ? 200 qts. milk) + ($2 per qt. of honey ? 100 qts.honey) = $4002003: ($1 per qt. of milk ? 200 qts. milk) + ($2 per qt. of honey ? 100 qts.honey) = $4002001: ($200/$200) ? 100 = 1002002: ($400/$400) ? 100 = 1002003: ($800/$400) ? 100 = 200b. percentage change in nominal gdp in 2002 = [($400 - $200)/$200] ? 100 =100%.percentage change in nominal gdp in 2003 = [($800 -$400)/$400] ? 100 =100%.percentage change in real gdp in 2002 = [($400 - $200)/$200] ? 100 = 100%.percentage change in real gdp in 2003 = [($400 - $400)/$400] ? 100 = 0%.percentage change in the gdp deflator in 2002 = [(100 -100)/100] ? 100 = 0%.percentage change in the gdp deflator in 2003 = [(200 -100)/100] ? 100 =100%.prices did not change from 2001 to 2002. thus, thepercentage change in thegdp deflator is zero. likewise, output levels did not change from 2002 to 2003.this means that the percentage change in real gdp is zero.c. economic well-being rose more in 2002 than in 2003, since real gdp rose in2002 but not in 2003. in 2002, real gdp rose and prices didn’t. in 2003, realgdp didn’t rise and prices did.6.a.b.c.d.e.f.7. the growth rate of nominal gdp is higher than the growth rate of real gdp because of inflation. the growth rate of real gdp is ($8,367 - $8,203)/$8,203 ? 100% = 2.0%. real gdp in 2000 (in 1996 dollars) is $9,873/(118/100) = $8,367. real gdp in 1999 (in 1996 dollars) is $9,269/(113/100) = $8,203. the growth rate ofthe deflator is (118 - 113)/113 ? 100% = 4.4%. the growth rate of nominal gdp is ($9,873 - $9,269)/$9,269 ? 100% = 6.5%. economists ignore the rise in peoples incomes that is caused by higher prices becausealthough incomes are higher, the prices of the goods and services that people buy are also higher. therefore, they will not necessarily be able to purchase more goods and services. for this reason, economists prefer to look at real gdp instead of nominal gdp.many answers are possible.a. gdp equals the dollar amount barry collects, which is $400.8. 9.c.d.e.10. national income = nnp - sales taxes = $350 - $30 = $320. personal income = national income - retained earnings = $320 - $100 = $220. disposable personal income = personal income - personal income tax = $220 - $70 = $150. in countries like india, people produce and consume a fair amount of food at home that isnot included in gdp. so gdp per person in india and the united states will differ by more than their comparative economicwell-being.if the government cares about the total income of americans,it will emphasize gnp, since that measure includes the income of americans that is earned abroad and excludes the income of foreigners. if the government cares about the total amount ofeconomic activity occurring in the united states, it will emphasize gdp, which measures the level of production in the country, whether produced by domestic citizens or foreigners.a. the increased labor-force participation of women has increased gdp in theunited states, since it means more people are working and production hasincreased.if our measure of well-being included time spent working in the home and takingleisure, it wouldnt rise as much as gdp, since the rise in womens labor-forceparticipation has reduced time spent working in the home and taking leisure.other aspects of well-being that are associated with the rise in womens increasedlabor-force participation include increased self-esteem and prestige for women inthe workforce, especially at managerial levels, but decreased quality time spentwith children, whose parents have less time to spend with them. such aspectswould be quite difficult to measure. 11. 12. b. c.24章quick quizzes1. the consumer price index tries to measure the overall cost of the goods and servicesbought by a typical consumer. it is constructed by surveying consumers to fix a basket of goods and services that the typical consumer buys, finding the prices of the goods and。
曼昆经济学原理(宏观分册)第23章课后习题答案(英文版)
Quick Quizzes:1. Gross domestic product measures two things at once: (1) the total income of everyone in theeconomy and (2) the total expenditure on the economy’s output of final goods and services.It can measure both of these things at once because all expenditure in the economy ends up assomeone’s income.2. The production of a pound of caviar contributes more to GDP than the production of a pound ofhamburger because the contribution to GDP is measured by market value and the price of apound of caviar is much higher than the price of a pound of hamburger.3. The four components of expenditure are: (1) consumption; (2) investment; (3) governmentpurchases; and (4) net exports. The largest component is consumption, which accounts formore than 70 percent of total expenditure.4. Real GDP is the production of goods and services valued at constant prices. Nominal GDP isthe production of goods and services valued at current prices. Real GDP is a better measure ofeconomic well-being because changes in real GDP reflect changes in the amount of outputbeing produced. Thus, a rise in real GDP means people have produced more goods andservices, but a rise in nominal GDP could occur either because of increased production orbecause of higher prices.5. Although GDP is not a perfect measure of well-being, policymakers should care about itbecause a larger GDP means that a nation can afford better healthcare, better educationalsystems, and more of the material necessities of life.Questions for Review:1. An economy's income must equal its expenditure, because every transaction has a buyer and aseller. Thus, expenditure by buyers must equal income by sellers.2. The production of a luxury car contributes more to GDP than the production of an economy carbecause the luxury car has a higher market value.3. The contribution to GDP is $3, the market value of the bread, which is the final good that issold.4. The sale of used records does not affect GDP at all because it involves no current production.5. The four components of GDP are consumption, such as the purchase of a DVD; investment,such as the purchase of a computer by a business; government purchases, such as an order formilitary aircraft; and net exports, such as the sale of American wheat to Russia. (Many otherexamples are possible.)6. Economists use real GDP rather than nominal GDP to gauge economic well-being because realGDP is not affected by changes in prices, so it reflects only changes in the amounts beingproduced. You cannot determine if a rise in nominal GDP has been caused by increasedproduction or higher prices.7.405The percentage change in nominal GDP is (600 – 200)/200 x 100% = 200%. The percentagechange in real GDP is (400 – 200)/200 x 100% = 100%. The percentage change in the deflator is (150 – 100)/100 x 100% = 50%.8. It is desirable for a country to have a large GDP because people could enjoy more goods andservices. But GDP is not the only important measure of well-being. For example, laws thatrestrict pollution cause GDP to be lower. If laws against pollution were eliminated, GDP wouldbe higher but the pollution might make us worse off. Or, for example, an earthquake wouldraise GDP, as expenditures on cleanup, repair, and rebuilding increase. But an earthquake is anundesirable event that lowers our welfare.Problems and Applications1. a. Consumption increases because a refrigerator is a good purchased by a household.b. Investment increases because a house is an investment good.c. Consumption increases because a car is a good purchased by a household, but investmentdecreases because the car in Ford’s inventory had been counted as an investment gooduntil it was sold.d. Consumption increases because pizza is a good purchased by a household.e. Government purchases increase because the government spent money to provide a goodto the public.f. Consumption increases because the bottle is a good purchased by a household, but netexports decrease because the bottle was imported.g. Investment increases because new structures and equipment were built.2. With transfer payments, nothing is produced, so there is no contribution to GDP.3. If GDP included goods that are resold, it would be counting output of that particular year, plussales of goods produced in a previous year. It would double-count goods that were sold morethan once and would count goods in GDP for several years if they were produced in one yearand resold in another.4. a. Calculating nominal GDP:2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) = $4002012: ($2 per qt. of milk ⨯ 200 qts. milk) + ($4 per qt. of honey ⨯ 100 qts. honey) = $800Calculating real GDP (base year 2010):2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) = $4002012: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) = $400 Calculating the GDP deflator:2010: ($200/$200) ⨯ 100 = 1002011: ($400/$400) ⨯ 100 = 1002012: ($800/$400) ⨯ 100 = 200b. Calculating the percentage change in nominal GDP:Percentage change in nominal GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in nominal GDP in 2012 = [($800 – $400)/$400] ⨯ 100% = 100%.Calculating the percentage change in real GDP:Percentage change in real GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in real GDP in 2012 = [($400 – $400)/$400] ⨯ 100% = 0%.Calculating the percentage change in GDP deflator:Percentage change in the GDP deflator in 2011 = [(100 – 100)/100] ⨯ 100% = 0%.Percentage change in the GDP deflator in 2012 = [(200 – 100)/100] ⨯ 100% = 100%.Prices did not change from 2010 to 2011. Thus, the percentage change in the GDP deflator is zero. Likewise, output levels did not change from 2011 to 2012. This means that thepercentage change in real GDP is zero.c. Economic well-being rose more in 2010 than in 2011, since real GDP rose in 2011 but not in2012. In 2011, real GDP rose but prices did not. In 2012, real GDP did not rise but prices did.5. a. C alculating Nominal GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $5) = $20Year 3: (5 bars ⨯ $6) = $30b. C alculating Real GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $4) = $16Year 3: (5 bars ⨯ $4) = $20c. Calculating the GDP delator:Year 1: $12/$12 ⨯ 100 = 100Year 2: $20/$16 ⨯ 100 = 125Year 3: $30/$20 ⨯ 100 = 150d. T he growth rate from Year 2 to Year 3 = (16 – 12)/12 ⨯ 100% = 4/12 ⨯ 100% = 33.3%e. The inflation rate from Year 2 to Year 3 = (150 – 125)/125 ⨯ 100% = 25/125 ⨯ 100% =20%.f. To calculate the growth rate of real GDP, we could simply calculate the percentage changein the quantity of bars. To calculate the inflation rate, we could measure the percentage change in the price of bars.6.a. The growth rate of nominal GDP = 100% ⨯ [($14,256/$9,353)0.10– 1] = 4.3%b. The growth rate of the deflator = 100% ⨯ [(109.886.8)0.10– 1] = 2.4%c. Real GDP in 1999 (in 2005 dollars) is $9,353/(86.8/100) = $10,775.35.d. Real GDP in 2009 (in 2005 dollars) is $14,256/(109.8/100) = $12,983.61.e. The growth rate of real GDP = 100% ⨯ [($12,983.61/$10,775.35)0.10– 1] = 1.9%f. The growth rate of nominal GDP is higher than the growth rate of real GDP because ofinflation.7. Many answers are possible.8. a. GDP is the market value of the final good sold, $180.b. Value added for the farmer: $100.Value added for the miller: $150 – $100 = $50.Value added for the baker: $180 – $150 = $30.c. Together, the value added for the three producers is $100 + $50 + $30 = $180. This is thevalue of GDP.9. In countries like India, people produce and consume a fair amount of food at home that is notincluded in GDP. So GDP per person in India and the United States will differ by more than their comparative economic well-being.10. a. The increased labor-force participation of women has increased GDP in the United States,because it means more people are working and production has increased.b. If our measure of well-being included time spent working in the home and taking leisure, itwould not rise as much as GDP, because the rise in women's labor-force participation has reduced time spent working in the home and taking leisure.c. Other aspects of well-being that are associated with the rise in women's increasedlabor-force participation include increased self-esteem and prestige for women in theworkforce, especially at managerial levels, but decreased quality time spent with children, whose parents have less time to spend with them. Such aspects would be quite difficult to measure.11. a. GDP equals the dollar amount Barry collects, which is $400.b. NNP = GDP – depreciation = $400 – $50 = $350.c. National income = NNP = $350.d. Personal income = national income – retained earnings – indirect business taxes = $350 –$100 – $30 = $220.e. Disposable personal income = personal income – personal income tax = $220 – $70 =$150.。
曼昆《经济学原理(宏观经济学分册)》(第6版)笔记和课后习题详解(第23章 一国收入的衡量)
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第8篇宏观经济学的数据第23章一国收入的衡量23.1 复习笔记1．经济的收入与支出在一国的宏观经济中，收入必定等于支出。
这是因为，在每一次交易中，卖者的收入必定等于买者的支出。
国内生产总值（GDP）衡量经济中的总收入或总产量。
由于收入等于支出，可以把经济中赚到的收入（工资、租金和利润）加总起来衡量，也可以用经济中生产的物品和劳务的支出衡量，也就是说，收入等于支出等于GDP。
2．国内生产总值的衡量国内生产总值（GDP）指在某一既定时期一个国家内生产的所有最终物品与劳务的市场价值。
（1）GDP是一个市场价值的概念。
各种最终产品的价值都是用货币加以衡量的。
产品市场价值就是用这些最终产品的单位价格乘以产量获得的。
（2）GDP测度的是最终产品的价值，中间产品价值不计入GDP，否则会造成重复计算。
（3）GDP是指一定时期内（往往为一年）所生产而不是所卖掉的最终产品价值。
（4）GDP是计算期内（如2013年）生产的最终产品价值，因而是流量而不是存量。
流量是一定时期内发生的变量，存量是一定时点上存在的变量。
（5）GDP是一国范围内生产的最终产品的市场价值，从而是一个地域概念，而与此相联系的国民生产总值（GNP）则是一个国民概念，乃指某国国民所拥有的全部生产要素所生产的最终产品的市场价值。
两者的关系是：GNP＝GDP＋［本国生产要素在其他国家获得的收入（投资利润、劳务收入）－外国居民从本国获得的收入］。
北大出版社曼昆宏观经济学第六版全英题库有答案23章(供参考)
Chapter 23 Measuring a Nation's IncomeMULTIPLE CHOICE1. Macroeconomists studya. the decisions of individual households and firms.b. the interaction between households and firms.c. economy-wide phenomena.d. regulations imposed on firms and unions.ANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Definitional2. Which of the following newspaper headlines is more closely related to what microeconomists studythan to what macroeconomists study?a. Unemployment rate rises from 5 percent to 5.5 percent.b. Real GDP grows by 3.1 percent in the third quarter.c. Retail sales at stores show large gains.d. The price of oranges rises after an early frost.ANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive3. Which of the following questions is more likely to be studied by a microeconomist than a macroecon-omist?a. Why do prices in general rise by more in some countries than in others?b. Why do wages differ across industries?c. Why do national production and income increase in some periods and not in others?d. How rapidly is GDP currently increasing?ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive4. Which of the following topics are more likely to be studied by a macroeconomist than by a microe-conomist?a. the effect of taxes on the prices of airline tickets, and the profitability of automobile-manufacturing firmsb. the price of beef, and wage differences between gendersc. how consumers maximize utility, and how prices are established in markets for agriculturalproductsd. the percentage of the labor force that is out of work, and differences in average income fromcountry to countryANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive5. We would expect a macroeconomist, as opposed to a microeconomist, to be particularly interested ina. explaining how economic changes affect prices of particular goods.b. devising policies to deal with market failures such as externalities and market power.c. devising policies to promote low inflation.d. identifying those markets that are competitive and those that are not competitive.ANS: C DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive6. Which of the following is not a question that macroeconomists address?a. Why is average income high in some countries while it is low in others?b. Why does the price of oil rise when war erupts in the Middle East?c. Why do production and employment expand in some years and contract in others?d. Why do prices rise rapidly in some periods of time while they are more stable in other periods? ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive7. The basic tools of supply and demand area. useful only in the analysis of economic behavior in individual markets.b. useful in analyzing the overall economy, but not in analyzing individual markets.c. central to microeconomic analysis, but seldom used in macroeconomic analysis.d. central to macroeconomic analysis as well as to microeconomic analysis.ANS: D DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Supply and demandMSC: Definitional8. Which of the following statistics is usually regarded as the best single measure of a society’s eco-nomic well-being?a. the unemployment rateb. the inflation ratec. gross domestic productd. the trade deficitANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional9. GDPa. is used to monitor the performance of the overall economy but is not the single best measure ofa society’s econom ic well-being.b. is used to monitor the performance of the overall economy and is the single best measure of asociety’s economic well-being.c. is not used to monitor the performance of the overall economy but is the single best measure ofa society’s economic well-being.d. is not used to monitor the performance of the overall economy and is not the single bestmeasure of a society’s economic well-being.ANS: B DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: DefinitionalTHE ECONOMY'S INCOME AND EXPENDITURE1. Gross domestic product measuresa. income and expenditures.b. income but not expenditures.c. expenditures but not income.d. neither income nor expenditures.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive2. Expenditures on a nation’s domestic productiona. are less than its domestic production.b. are equal to its domestic production.c. are greater than its domestic production.d. could be less than, equal to, or greater than its domestic production.ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional3. Income generated by a nation’s domestic productiona. is less than its domestic production.b. is equal to its domestic production.c. is greater than its domestic production.d. could be less than, equal to, or greater than its domestic production.ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional4. For an economy as a whole,a. wages must equal profit.b. consumption must equal saving.c. income must equal expenditure.d. the number of buyers must equal the number of sellers.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive5. Which of the following statements about GDP is correct?a. GDP measures two things at once: the total income of everyone in the economy and thetotal expenditure on the economy’s output of goods and services.b. Money continuously flows from households to firms and then back to households, andGDP measures this flow of money.c. GDP is generally regarded as the best single measure of a society’s economic well-being.d. All of the above are correct.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive6. Because every transaction has a buyer and a seller,a. GDP is more closely associated with an economy’s income than it is with aneconomy’s expenditure.b. every transaction contributes equally to an economy’s income and to its expenditure.c. the number of firms must be equal to the number of households in a simple circular-flow diagram.d. firms’ profits are necessarily zero in a simple circular-flow diagram.ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: Interpretive7. For an economy as a whole, income must equal expenditure becausea. the number of firms is equal to the number of households in an economy.b. individuals can only spend what they earn each period.c. every dollar of spending by some buyer is a dollar of income for some seller.d. every dollar of saving by some consumer is a dollar of spending by some otherconsumer.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: Interpretive8. If an economy’s GDP falls, then it must be the case that the economy’sa. income falls and saving rises.b. income and saving both fall.c. income falls and expenditure rises.d. income and expenditure both fall.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive9. If an economy’s GDP rises, then it must be the case that the economy’sa. income rises and saving falls.b. income and saving both rise.c. income rises and expenditure falls.d. income and expenditure both rise.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive10. Which of the following statements about GDP is correct?a. GDP measures two things at once: the total income of everyone in the economy and theunemployment rate of the economy’s labor force.b. Money continuously flows from households to government and then back tohouseholds, and GDP measures this flow of money.c. GDP is to a nation’s economy as household income is to a household.d. All of the above are correct.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive11. In a simple circular-flow diagram, total income and total expenditure area. never equal because total income always exceeds total expenditure.b. seldom equal because of the ongoing changes in an economy’s unemployment rate.c. equal only when the government purchases no goods or services.d. always equal because every transaction has a buyer and a seller.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive12. In a simple circular-flow diagram,a. households spend all of their income.b. all goods and services are bought by households.c. expenditures flow through the markets for goods and services, while income flowsthrough the markets for the factors of production.d. All of the above are correct.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive13. In a simple circular-flow diagram, firms use the money they get from a sale toa. pay wages to workers.b. pay rent to landlords.c. pay profit to the firms’ owners.d. All of the above are correct.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Definitional14. In a simple circular-flow diagram, households buy goods and services with the income theyget froma. wages.b. rents.c. profits.d. All of the above are correct.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Definitional15. In the actual economy, householdsa. spend all of their income.b. divide their income among spending, taxes, and saving.c. buy all goods and services produced in the economy.d. Both (a) and (c) are correct.ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive16. Total income from the domestic production of final goods and services equalsa. only household expenditures for these goods.b. only household and business expenditures for these goods.c. only household and government expenditures for these goods.d. the expenditures for these goods whoever buys them.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: Definitional17. In the actual economy, goods and services are purchased bya. households, but not firms or the government.b. households and firms, but not the government.c. households and the government, but not firms.d. households, firms, and the government.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive18. According to the circular-flow diagram GDPa. can be computed as the total income paid by firms or as expenditures on final goodsand services.b. can be computed as the total income paid by firms, but not as expenditures on finalgoods and services.c. can be computed as expenditures on final goods and services, but not as the totalincome paid by firms.d. cannot be computed as either total income paid by firms or expenditures on final goodsand services.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: Definitional19. According to the circular-flow diagram GDPa. can be computed as either the revenue firms receive from the sales of goods andservices or the payments they make to factors of production.b. can be computed as the revenue firms receive from the sales of goods and services butnot as the payments they make to factors of production.c. can be computed as payments firms make to factors of production but not as revenuesthey receive from the sales of goods and services.d. cannot be computed as either the revenue firms receive or the payments they make tofactors of production.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: DefinitionalTHE MEASUREMENT OF GROSS DOMESTIC PRODUCT1. GDP is defined as thea. value of all goods and services produced within a country in a given period of time.b. value of all goods and services produced by the citizens of a country, regardless ofwhere they are living, in a given period of time.c. value of all final goods and services produced within a country in a given period oftime.d. value of all final goods and services produced by the citizens of a country, regardlessof where they are living, in a given period of time.ANS: C DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Domestic production MSC: Definitional2. Which of the following is a way to compute GDP?a. add up the wages paid to all workersb. add up the quantities of all final goods and servicesc. add up the market values of all final goods and servicesd. add up the difference between the market values of all final goods and services andthen subtract the costs of producing those goods and servicesANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Interpretive3. In order to include many different goods and services in an aggregate measure, GDP is com-puted using, primarily,a. values of goods and services based on surveys of consumers.b. market prices.c. quantities purchased by a typical urban household.d. profits from producing goods and services.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Interpretive4. Gross domestic product adds together many different kinds of goods and services into a sin-gle measure of the value of economic activity. To do this, GDP makes use ofa. market prices.b. statistical estimates of the value of goods and services to consumers.c. prices based on the assumption that producers make no profits.d. the maximum amount consumers would be willing to pay.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Interpretive5. In computing GDP, market prices are used to value final goods and services becausea. market prices do not change much over time, so it is easy to make comparisonsbetween years.b. market prices reflect the values of goods and services.c. market prices reflect the quantity sold.d. None of the above is correct; market prices are not used in computing GDP.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Interpretive6. If the price of a Blu-Ray Disc player is three times the price of an MP3 player, then a Blue-Ray Disc player contributesa. more than three times as much to GDP as does a MP3 player.b. less than three times as much to GDP as does a MP3 player.c. exactly three times as much to GDP as does a MP3 player.d. None of the above is necessarily correct.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Applicative7. Suppose that an economy produces 40,000 units of good A which sells at $4 a unit and20,000 units of good B which sells at $5 per unit. Production of good A contributesa. 2 times as much to GDP as the production of good B.b. 8/5 times as much to GDP as the production of good B.c. 5/4 times as much to GDP as the production of good B.d. 4/5 times as much to GDP as production of good B.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative8. Suppose that an economy produces 30,000 units of good A which sells at $3 a unit and60,000 units of good B which sells at $2 per unit. Production of good A contributesa. 1/2 times as much to GDP as the production of good B.b. 3/2 times as much to GDP as the production of good B.c. 3/4 times as much to GDP as the production of good B.d. 4/3 times as much to GDP as production of good B.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative9. Which of the following is included in GDP?a. the market value of rental housing services, but not the market value of owner-occupied housing services.b. the market value of owner-occupied housing services, but not the market value ofrental housing servicesc. both the market value of rental housing services and the market value of owner-occupied housing servicesd. neither the market value of owner-occupied housing services nor the market value ofrental housing services.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Definitional10. The value of the housing services provided by the economy's owner-occupied houses isa. included in GDP, and the estimated rental values of the houses are used to place avalue on these housing services.b. included in GDP, and the actual mortgage payments made on the houses are used toestimate the value of these rental services.c. excluded from GDP since these services are not sold in any market.d. excluded from GDP since the value of these housing services cannot be estimated withany degree of precision.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Definitional11. Suppose an apartment complex converts to a condominium, so that the former renters arenow owners of their housing units. Suppose further that a current estimate of the value ofthe condominium owners' housing services is the same as the rent they previously paid.What happens to GDP as a result of this conversion?a. GDP necessarily increases.b. GDP necessarily decreases.c. GDP is unaffected because neither the rent nor the estimate of the value owner-occupied housing services is included in GDP.d. GDP is unaffected because previously the rent payments were included in GDP andnow the rent payments are replaced in GDP by the estimate of the value of owneroccupied housing services.ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Applicative12. James owns two houses. He rents one house to the Johnson family for $10,000 per year.He lives in the other house. If he were to rent the house in which he lives, he could earn $12,000 per year in rent. How much do the housing services provided by the two houses contribute to GDP?a. $0b. $10,000c. $12,000d. $22,000ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Applicative13. Ryan lives in an apartment where he pays $7,000 a year in rent. Alexis lives in a housethat could be rented for $14,000 a year. How much do these housing services contribute to GDP?a. $21,000b. $14,000c. $7,000d. $0ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Applicative14. Most goods and services produced at homea. and most goods and services produced illegally are included in GDP.b. are included in GDP while most goods and services produced illegally are excludedfrom GDP.c. are excluded from GDP while most goods and services produced illegally are includedin GDPd. and most goods and services produced illegally are excluded from GDP.ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Household chores | Illegal goodsMSC: Definitional15. GDP excludes most items that are produced and sold illegally and most items that are pro-duced and consumed at home becausea. the quality of these items is not high enough to contribute value to GDP.b. measuring them is so difficult.c. the government wants to discourage the production and consumption of these items.d. these items are not reported on income tax forms.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Interpretive16. Estimates of the values of which of the following non-market goods or services are includedin GDP?a. the value of unpaid houseworkb. the value of services provided by major household appliances purchased in a previousperiodc. the estimated rental value of owner-occupied homesd. All of the above are included in GDP.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Housing services | Household chores MSC: Applicative17. Over the last few decades, Americans have chosen to cook less at home and eat more at res-taurants. This change in behavior, by itself, hasa. reduced measured GDP.b. not affected measured GDP.c. increased measured GDP by the value of the restaurant meals.d. increased measured GDP by the value added by the restaurant’s preparation andserving of the meals.ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Applicative18. Over time, people have come to rely more on market-produced goods and services and lesson goods and services they produce for themselves. For example, busy people with high incomes, rather than cleaning their own houses, hire people to clean their houses. By it-self, this change hasa. caused measured GDP to fall.b. not caused any change in measured GDP.c. caused measured GDP to rise.d. probably changed measured GDP, but in an uncertain direction; the direction of thechange depends on the difference in the quality of the cleaning that has resulted. ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Applicative19. Ralph pays someone to mow his lawn, while Mike mows his own lawn. Regarding thesetwo practices, which of the following statements is correct?a. Only Ralph’s payments are included in GDP.b. Ralph’s payments as well as the estimated value of Mike’s mowi ng services areincluded in GDP.c. Neither Ralph’s payments nor the estimated value of Mike's mowing services isincluded in GDP.d. Ralph’s payments are included in GDP, while the estimated value of Mike’s mowingservices is included in GDP only if Mike voluntarily provides his estimate of that valueto the government.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Interpretive20. Susan switches from going to Speedy Lube for an oil change to changing the oil in her carherself. Which of the following is correct? The value of changing the oil isa. included in GDP whether Susan pays Speedy Lube to change it or changes it herself.b. included in GDP if Susan pays Speedy Lube to change it but not if she changes itherself.c. included in GDP if Susan changes it herself, but not if she pays Speedy Lube to changeit.d. not included in GDP whether Susan pays Speedy lube to change it or she changes itherself.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Applicative21. Rachel babysits for her sister for no pay. When she babysits for someone else she charges$8 an hour. When is Rachel’s babysitti ng included in GDP?a. When she babysits for her sister and when she babysits for someone else.b. When she babysits for her sister, but not when she babysits for someone else.c. When she babysits for someone else, but not when she babysits for her sister.d. Neither when she babysits for her sister nor for someone else.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive22. Which of the following is not included in GDP?a. carrots grown in your garden and eaten by your familyb. carrots purchased at a farmer’s market and eaten by your familyc. carrots purchased at a grocery store and eaten by your familyd. None of the above are included in GDP.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Applicative23. A professional gambler moves from a state where gambling is illegal to a state where gam-bling is legal. Most of his income was, and continues to be, from gambling. His movea. raises GDP.b. decreases GDP.c. doesn't change GDP because gambling is never included in GDP.d. doesn't change GDP because in either case his income is included.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Applicative24. If a state made a previously-illegal activity, such as gambling or prostitution, legal, then,other things equal, GDPa. decreases.b. increases.c. doesn't change because both legal and illegal production are included in GDP.d. doesn't change because these activities are never included in GDP.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Applicative25. Which of the following is included in GDP?a. medical marijuana purchased from a government-run pharmacy by a glaucoma patientb. recreational marijuana purchased from a drug dealer by a college studentc. recreational marijuana produced and consumed by a man in his atticd. All of the above are included in GDP.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Applicative26. Darin grows and sells marijuana to Jennifer. Thomas is an organic farmer who sells broc-coli to Jennifer. Marijuana is an illegal good and broccoli is a legal good. Assume that if Jennifer marries either, they give her what they use to sell her. Which of the following statements is consistent with the way GDP is computed?a. GDP will fall if Jennifer marries either Darin or Thomas..b. GDP will fall if Jennifer marries Darin but not if she marries Thomas.c. GDP will fall if Jennifer marries Thomas but not if she marries Darin.d. GDP remains the same whether Jennifer marries Darin or Thomas.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Applicative27. Spots, Inc. produces ink and sells it to Write on Target, which makes pens. The ink pro-duced by Spots, Inc. is calleda. an inventory good.b. a transitory good.c. a final good.d. an intermediate good.ANS: D DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Intermediate goods MSC: Definitional。
曼昆《经济学原理(宏观经济学分册)》(第6版)课后习题详解
曼昆《经济学原理〔宏观经济学分册〕》〔第6版〕第35章通货膨胀与失业之间的短期权衡取舍课后习题详解跨考网独家整理最全经济学考研真题，经济学考研课后习题解析资料库，您可以在这里查阅历年经济学考研真题，经济学考研课后习题，经济学考研参考书等容，更有跨考考研历年辅导的经济学学哥学姐的经济学考研经历，从前辈中获得的经历对初学者来说是珍贵的财富，这或许能帮你少走弯路，躲开一些陷阱。
以下容为跨考网独家整理，如您还需更多考研资料，可选择经济学一对一在线咨询进展咨询。
一、概念题1．菲利普斯曲线〔Phillips curve〕〔师大学2004研；工业大学2005、2006研；大学2006研〕答：菲利普斯曲线是指货币工资变动率与失业率之间交替关系的曲线。
它是由英国经济学家菲利普斯根据1861～1957年英国的失业率和货币工资变动率的经历统计资料提出来的，故称之为菲利普斯曲线。
这条曲线表示，当失业率高时，货币工资增长率低，反之，当失业率低时，货币工资增长率高。
因此，如图35-1所示，横轴代表失业率〔U〕，纵轴代表货币工资增长率〔W〕，菲利普斯曲线是一条向右下方倾斜的曲线。
根据本钱推动型通货膨胀的理论，货币工资增长率决定了价格增长率，所以，菲利普斯曲线也可以表示通货膨胀率和失业率之间的交替关系，即当失业率高时，通货膨胀率低；反之，当失业率低时，通货膨胀率高。
图35-1 菲利普斯曲线新古典综合派经济学家把菲利普斯曲线作为调节经济的依据，即当失业率高时，实行扩性财政政策与货币政策，以承受一定通货膨胀率为代价换取较低的失业率；当通货膨胀率高时，实行紧缩性的财政政策与货币政策，借助提高失业率以降低通货膨胀率。
货币主义者对菲利普斯曲线所表示的通货膨胀率与失业率之间的交替关系提出了质疑，并进一步论述了短期菲利普斯曲线、长期菲利普斯曲线和附加预期的菲利普斯曲线，以进一步解释在不同条件下，通货膨胀率与失业率之间的关系。
理性预期学派进一步以理性预期为依据解释了菲利普斯曲线。
曼昆经济学原理(宏观经济学分册)(第6版)课后习题详解
曼昆《经济学原理〔宏观经济学分册〕》〔第6版〕第34章货币政策和财政政策对总需求的影响课后习题详解跨考网独家整理最全经济学考研真题,经济学考研课后习题解析资料库,您可以在这里查阅历年经济学考研真题,经济学考研课后习题,经济学考研参考书等容,更有跨考考研历年辅导的经济学学哥学姐的经济学考研经验,从前辈中获得的经验对初学者来说是宝贵的财富,这或许能帮你少走弯路,躲开一些陷阱。
以下容为跨考网独家整理,如您还需更多考研资料,可选择经济学一对一在线咨询进行咨询。
一、概念题1．流动性偏好理论〔theory of liquidity preference〕答：流动性偏好理论是解释实际货币余额的供给与需求如何决定利率的理论。
流动性偏好是人们为应付日常开支、意外支出和进行投机活动而愿意持有现金的一种心理偏好。
该理论由英国著名经济学家约翰·梅纳德·凯恩斯〔J·M·Keynes〕于1936年在《就业、利息和货币通论》中提出。
它根源于交易动机、预防动机和投机动机。
交易动机是为了日常交易而产生的持有货币的愿望,预防动机是为了应付紧急情况而产生的持有货币的愿望。
满足交易动机和预防动机的货币需求数量取决于国民收入水平的高低,并且是收入的增函数。
投机性动机是人们根据对市场利率变化的预测,持有货币以便从中获利的动机。
投机动机的货币需求与现实利率呈负相关。
该理论假设中央银行选择了一个固定的货币供给,在此模型中,价格水平P也是固定的,所以实际货币余额供给固定。
实际货币余额需求取决于利率——持有货币的机会成本。
当利率很高时,因为机会成本太高,人们只会持有较少的货币。
反之,当利率很低时,因为机会成本较低,人们会持有较多的货币。
根据流动性偏好理论,利率会调整到使实际货币余额供给与需求相等的水平。
2．财政政策〔fiscal policy〕答：财政政策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。
曼昆宏观经济学第六版答案
税收的增加使国民储蓄上升，因此资本的供给曲线向右移动。
均衡的实际利率下降，投资增加。
5.假设消费者信心提高增加了消费者未来收入的预期，从而他们现在想消费的数量增加。
可==以把这种情况解释为消费函数向上移动。
这种移动如何影响投资和利率？【答案】如果消费者增加现期的消费数量，那么私人储蓄和国民储蓄将下降。
我们知道这是由于国民储蓄的定义式：国民储蓄 = 私人储蓄 + 公共储蓄 [Y - T - C (Y - T )] + [T - G ] Y - C (Y - T ) - G消费的增加降低了私人储蓄，因此国民储蓄也下降。
图 3-2 描述了作为实际利率函数的储蓄和投资。
6.考虑下列式子描述的一种经济体的情况：Y =C +I +G 、Y =5 000、 G =1 000、 T =1 000、 C =250+0.75(Y -T )、 I =1 000-50rA 、 在这种经济中，计算私人储蓄、公共储蓄和国民储蓄。
B 、 找出均衡利率。
C 、 现假设 G 增加到 1 250。
计算私人储蓄、公共储蓄，以及国民储蓄。
D 、 找出新的均衡利率。
【答案】A 、私人储蓄即没有消费的可支配收入S 私人 = Y - T - C = 5,000 - 1,000 - [250 + 0.75(5,000 - 1,000)] = 750实际利率投资，储蓄S 1S 2r 1r 2I (r )图 3-1实际利率图 3-2 投资，储蓄S 1S 2r 2r 1I (r )考易KAOEASY 上面的等式S 私人 = 750S 公共 = T - G = 1,000 - 1,250 = -250因此， S = S 私人 + S 公共 = 750 + (-250) = 500D 、借贷市场再一次出清的均衡利率：S =I500=1,000-50r解这个等式得：r =10%7.假设政府等量地增加政府税收和政府购买。
由于这种平衡预算的变动，投资和利率会发生什么变动？你的答案取决于边际消费倾向吗？【答案】为了弄清等量的增加税收与政府购买对投资的影响，需要考虑国民储蓄的收入恒等式：国民储蓄 = [私人储蓄] + [公共储蓄] = [Y - T - C (Y - T )] + [T - G ] = Y - C (Y - T ) - G 因为 Y 是由生产要素决定的，同时消费的变化由可支配收入乘以边际消费倾向，所以可得到：ΔY = [-ΔT - (MPC ⋅ (-ΔT ))] + [ΔT - ΔG ] = [-ΔT + (MPC ⋅ ΔT )] + 0 = (MPC - 1) · ΔT 上面的表达式表示同时增加 T 和 G 对储蓄的影响取决于边际消费倾向。
曼昆宏观经济学 23章英文答案
405WHAT’S NEW IN THE SIXTH EDITION:There is a new In the News box on ―Beyond Gross Domestic Product.‖LEARNING OBJECTIVES:By the end of this chapter, students should understand:why an economy’s total income equ als its total expenditure.how gross domestic product (GDP) is defined and calculated.the breakdown of GDP into its four major components.the distinction between real GDP and nominal GDP.whether GDP is a good measure of economic well-being.CONTEXT AND PURPOSE:Chapter 10 is the first chapter in the macroeconomic section of the text. It is the first of a two-chapter sequence that introduces students to two vital statistics that economists use to monitor themacroeconomy —GDP and the consumer price index. Chapter 10 develops how economists measure production and income in the macroeconomy. The following chapter, Chapter 11, develops howeconomists measure the level of prices in the macroeconomy. Taken together, Chapter 10 concentrates on the quantity of output in the macroeconomy while Chapter 11 concentrates on the price of output in the macroeconomy.The purpose of this chapter is to provide students with an understanding of the measurement and the use of gross domestic product (GDP). GDP is the single most important measure of the health of the macroeconomy. Indeed, it is the most widely reported statistic in every developed economy.MEASURING A NATION’SINCOME406 ❖Chapter 23/Measuring a Nation’s IncomeKEY POINTS:∙ Because every transaction has a buyer and a seller, the total expenditure in the economy must equal the total income in the economy.∙ Gross domestic product (GDP) measures an economy’s total expenditure on newly produced goods and services and the total income earned from the production of these goods and services. More precisely, GDP is the market value of all final goods and services produced within a country in a given period of time.∙ GDP is divided among four components of expenditure: consumption, investment, government purchases, and net exports. Consumption includes spending on goods and services by households, with the exception of purchases of new housing. Investment includes spending on new equipment and structures, including households’ pur chases of new housing. Government purchases include spending on goods and services by local, state, and federal governments. Net exports equal the value of goods and services produced domestically and sold abroad (exports) minus the value of goods and services produced abroad and sold domestically (imports).∙ Nominal GDP uses current prices to value the economy’s production of goods and services. Real GDP uses constant base-year prices to value the economy’s production of goods and services. The GDP defla tor―calculated from the ratio of nominal to real GDP―measures the level of prices in theeconomy.∙ GDP is a good measure of economic well-being because people prefer higher incomes to lower incomes. But it is not a perfect measure of well-being. For example, GDP excludes the value ofleisure and the value of a clean environment.CHAPTER OUTLINE:I. Review of the Definitions of Microeconomics and MacroeconomicsA. Definition of microeconomics: the study of how households and firms make decisionsand how they interact in markets.B. Definition of macroeconomics: the study of economy-wide phenomena includinginflation, unemployment, and economic growth.II. The Economy’s Income and ExpenditureA. To judge whether or not an economy is doing well, it is useful to look at Gross Domestic Product(GDP).Chapter 23/Measuring a Natio n’s Income ❖ 4071. GDP measures the total income of everyone in the economy.2. GDP measures total expenditure on an economy’s output of goods and services.B. For an economy as a whole, total income must equal total expenditure.1. If someone pays someone else $100 to mow a lawn, the expenditure on the lawn service($100) is exactly equal to the income earned from the production of the lawn service ($100).2. We can also use the circular-flow diagram from Chapter 2 to show why total income and totalexpenditure must be equal.a. Households buy goods and services from firms; firms use this money to pay for resourcespurchased from households.b. In the simple economy described by this circular-flow diagram, calculating GDP could bedone by adding up the total purchases of households or summing total income earned by households.408 ❖ Chapter 23/Measuring a Nation’s Incomec. Note that this simple diagram is somewhat unrealistic as it omits saving, taxes,government purchases, and investment purchases by firms. However, because atransaction always has a buyer and a seller, total expenditure in the economy must be equal to total income.III. The Measurement of Gross Domestic ProductA. Definition of gross domestic product (GDP): the market value of all final goods andservices produced within a country in a given period of time .B. ―GDP Is the Market Value . . .‖ 1. To add together different items, market values are used. 2. Market values are calculated by using market prices.C. ―. . . Of All . . .‖1. GDP includes all items produced and sold legally in the economy.2. The value of housing services is somewhat difficult to measure.a. If housing is rented, the value of the rent is used to measure the value of the housingservices. b. For housing that is owned (or mortgaged), the government estimates the rental valueand uses this figure to value the housing services. 3. GDP does not include illegal goods or services or items that are not sold in markets. a. When you hire someone to mow your lawn, that production is included in GDP.b. If you mow your own lawn, that production is not included in GDP.D. ―. . . Final . . .‖ 2. The value of intermediate goods is already included as part of the value of the final good.Chapter 23/Measuring a Natio n’s Income❖4093. Goods that are placed into inventory are considered to be ―final‖ and included in GDP as afirm’s inventory investment.a. Goods that are sold out of inventory are counted as a decrease in inventory investment.b. The goal is to count the production when the good is finished, which is not necessarilythe same time that the product is sold.E. ―. . . Goods and Services . . .‖1. GDP includes both tangible goods and intangible services.F. ―. . . Produced . . .‖1. Only current production is counted.2. Used goods that are sold do not count as part of GDP.G. ―. . . Within a Country . . .‖1. GDP measures the production that takes place within the geographical boundaries of aparticular country.2. If a Canadian citizen works temporarily in the United States, the value of his output isincluded in GDP for the United States. If an American owns a factory in Haiti, the value of the production of that factory is not included in U.S. GDP.H. ―. . . in a Given Period of Time.‖1. The usual interval of time used to measure GDP is a quarter (three months).2. When the government reports GDP, the data are generally reported on an annual basis.3. In addition, data are generally adjusted for regular seasonal changes (such as Christmas).I. In addition to summing expenditure, the government also calculates GDP by adding up totalincome in the economy.1. The two ways of calculating GDP almost exactly give the same answer.2. The difference between the two calculations of GDP is called the statistical discrepancy.410 ❖ Chapter 23/Measuring a Nation’s IncomeJ. FYI: Other Measures of IncomeA. Gross National Product (GNP) is the total income earned by a nation’s permanent residents.1. GNP includes income that American citizens earn abroad.2. GNP excludes income that foreigners earn in the United States.B. Net National Product (NNP) is the total income of a nation’s residents (GNP) minus losses fromdepreciation (wear and tear on an economy’s stock of equipment and structures).C. Nati onal income is the total income earned by a nation’s residents in the production of goods andservices.1. National income differs from NNP by excluding indirect business taxes and including businesssubsidies.2. NNP and national income also differ due to ―statistical discrepancy.‖ D. Personal income is the income that households and noncorporate businesses receive.E. Disposable personal income is the income that households and noncorporate businesses have leftafter taxes and other obligations to the government.IV. The Components of GDPA. GDP (Y ) can be divided into four components: consumption (C ), investment (I ), governmentpurchases (G ), and net exports (NX ).B. Definition of consumption: spending by households on goods and services, with theexception of purchases of new housing . C. Definition of investment: spending on capital equipment, inventories, and structures,including household purchases of new housing .1. GDP accounting uses the word ―investment‖ differently from how w e use the term ineveryday conversation.2. When a student hears the word ―investment,‖ he or she thinks of financial instruments suchas stocks and bonds.Chapter 23/Measuring a Natio n’s Income ❖ 4113. In GDP accounting, investment means purchases of investment goods such as capitalequipment, inventories, or structures.D. Definition of government purchases: spending on goods and services by local, state,and federal governments .1. Salaries of government workers are counted as part of the government purchases componentof GDP. 2. Transfer payments are not included as part of the government purchases component of GDP.E. Definition of net exports: spending on domestically produced goods by foreigners(exports) minus spending on foreign goods by domestic residents (imports).F. Case Study: The Components of U.S. GDP1. Table 1 shows these four components of GDP for 2009.2. The data for GDP come from the Bureau of Economic Analysis, which is part of theDepartment of Commerce. V. Real Versus Nominal GDPA. There are two possible reasons for total spending to rise from one year to the next.1. The economy may be producing a larger output of goods and services.2. Goods and services could be selling at higher prices.B. When studying GDP over time, economists would like to know if output has changed (not prices).C. Thus, economists measure real GDP by valuing output using a fixed set of prices.D. A Numerical Example412 ❖ Chapter 23/Measuring a Nation’s Income1. Two goods are being produced: hot dogs and hamburgers.2. Definition of nominal GDP: the production of goods and services valued at currentprices .Nominal GDP for 2010 = ($1 × 100) + ($2 × 50) = $200. Nominal GDP for 2011 = ($2 × 150) + ($3 × 100) = $600. Nominal GDP for 2012 = ($3 × 200) + ($4 × 150) = $1,200.3. Definition of real GDP: the production of goods and services valued at constantprices .Let’s assume that the base year is 2008.Real GDP for 2010 = ($1 × 100) + ($2 × 50) = $200. Real GDP for 2011 = ($1 × 150) + ($2 × 100) = $350. Real GDP for 2012 = ($1 × 200) + ($2 × 150) = $500. E. Because real GDP is unaffected by changes in prices over time, changes in real GDP reflectchanges in the amount of goods and services produced.Chapter 23/Measuring a Natio n’s Income ❖ 413F. The GDP Deflator1. Definition of GDP deflator: a measure of the price level calculated as the ratio ofnominal GDP to real GDP times 100.2. Example CalculationsGDP Deflator for 2010 = ($200 / $200) × 100 = 100. GDP Deflator for 2011 = ($600 / $350) × 100 = 171. GDP Deflator for 2012 = ($1200 / $500) × 100 = 240.G. Case Study: Real GDP over Recent History1. Figure 2 shows quarterly data on real GDP for the United States since 1965.2. We can see that real GDP has increased over time.414 ❖ Chapter 23/Measuring a Nation’s Income3. We can also see that there are times when real GDP declines. These periods are calledrecessions. VI. Is GDP a Good Measure of Economic Well-Being?A. GDP measures both an economy’s total income and its total expenditure on goods and services.B. GDP per person tells us the income and expenditure level of the average person in the economy.C. GDP, however, may not be a very good measure of the economic well-being of an individual.1. GDP omits important factors in the quality of life including leisure, the quality of theenvironment, and the value of goods produced but not sold in formal markets.2. GDP also says nothing about the distribution of income.3. However, a higher GDP does help us achieve a good life. Nations with larger GDP generallyhave better education and better health care.D. In the News: The Underground Economy1. The measurement of GDP misses many transactions that take place in the undergroundeconomy.2. This article compares the underground economies of the United States and several othercountries.E. Case Study: International Differences in GDP and the Quality of Life1. Table 3 shows real GDP per person, life expectancy, adult literacy rates, and Internet usagefor 12 countries.2. In rich countries, life expectancy is higher and adult literacy and Internet usage rates arealso high. 3. In poor countries, people typically live only into their 50s, only about half of the adultpopulation is literate, and Internet usage is very rare.F. In the News: Beyond Gross Domestic Product1. Some economists wonder if we need a better measure of economic well-being.2. This is an article from The New York Times describing some criticisms of using GDP solely tomeasure economic well-being.SOLUTIONS TO TEXT PROBLEMS:Quick Quizzes:1. Gross domestic product measures two things at once: (1) the total income of everyone inthe economy and (2) the total exp enditure on the economy’s output of final goods andservices. It can measure both of these things at once because all expenditure in theeconomy ends up as someone’s income.2. The production of a pound of caviar contributes more to GDP than the production of a poundof hamburger because the contribution to GDP is measured by market value and the price ofa pound of caviar is much higher than the price of a pound of hamburger.3. The four components of expenditure are: (1) consumption; (2) investment; (3) governmentpurchases; and (4) net exports. The largest component is consumption, which accounts formore than 70 percent of total expenditure.4. Real GDP is the production of goods and services valued at constant prices. Nominal GDP isthe production of goods and services valued at current prices. Real GDP is a better measureof economic well-being because changes in real GDP reflect changes in the amount of outputbeing produced. Thus, a rise in real GDP means people have produced more goods andservices, but a rise in nominal GDP could occur either because of increased production orbecause of higher prices.5. Although GDP is not a perfect measure of well-being, policymakers should care about itbecause a larger GDP means that a nation can afford better healthcare, better educationalsystems, and more of the material necessities of life.Questions for Review:1. An economy's income must equal its expenditure, because every transaction has a buyer anda seller. Thus, expenditure by buyers must equal income by sellers.2. The production of a luxury car contributes more to GDP than the production of an economycar because the luxury car has a higher market value.3. The contribution to GDP is $3, the market value of the bread, which is the final good that issold.4. The sale of used records does not affect GDP at all because it involves no current production.5. The four components of GDP are consumption, such as the purchase of a DVD; investment,such as the purchase of a computer by a business; government purchases, such as an orderfor military aircraft; and net exports, such as the sale of American wheat to Russia. (Manyother examples are possible.)6. Economists use real GDP rather than nominal GDP to gauge economic well-being becausereal GDP is not affected by changes in prices, so it reflects only changes in the amountsbeing produced. You cannot determine if a rise in nominal GDP has been caused byincreased production or higher prices.7.The percentage change in nominal GDP is (600 – 200)/200 x 100% = 200%. The percentagechange in real GDP is (400 – 200)/200 x 100% = 100%. The percentage change in the deflator is (150 – 100)/100 x 100% = 50%.8. It is desirable for a country to have a large GDP because people could enjoy more goods andservices. But GDP is not the only important measure of well-being. For example, laws thatrestrict pollution cause GDP to be lower. If laws against pollution were eliminated, GDP wouldbe higher but the pollution might make us worse off. Or, for example, an earthquake wouldraise GDP, as expenditures on cleanup, repair, and rebuilding increase. But an earthquake isan undesirable event that lowers our welfare.Problems and Applications1. a. Consumption increases because a refrigerator is a good purchased by a household.b. Investment increases because a house is an investment good.c. Consumption increases because a car is a good purchased by a household, butinvestment decreases because the car in Ford’s inventory had been counted as aninvestment good until it was sold.d. Consumption increases because pizza is a good purchased by a household.e. Government purchases increase because the government spent money to provide a goodto the public.f. Consumption increases because the bottle is a good purchased by a household, but netexports decrease because the bottle was imported.g. Investment increases because new structures and equipment were built.2. With transfer payments, nothing is produced, so there is no contribution to GDP.3. If GDP included goods that are resold, it would be counting output of that particular year,plus sales of goods produced in a previous year. It would double-count goods that were soldmore than once and would count goods in GDP for several years if they were produced inone year and resold in another.4. a. Calculating nominal GDP:2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$4002012: ($2 per qt. of milk ⨯ 200 qts. milk) + ($4 per qt. of honey ⨯ 100 qts. honey) =$800Calculating real GDP (base year 2010):2010: ($1 per qt. of milk ⨯ 100 qts. milk) + ($2 per qt. of honey ⨯ 50 qts. honey) = $2002011: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$4002012: ($1 per qt. of milk ⨯ 200 qts. milk) + ($2 per qt. of honey ⨯ 100 qts. honey) =$400Calculating the GDP deflator:2010: ($200/$200) ⨯ 100 = 1002011: ($400/$400) ⨯ 100 = 1002012: ($800/$400) ⨯ 100 = 200b. Calculating the percentage change in nominal GDP:Percentage change in nominal GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in nominal GDP in 2012 = [($800 – $400)/$400] ⨯ 100% = 100%.Calculating the percentage change in real GDP:Percentage change in real GDP in 2011 = [($400 – $200)/$200] ⨯ 100% = 100%.Percentage change in real GDP in 2012 = [($400 – $400)/$400] ⨯ 100% = 0%.Calculating the percentage change in GDP deflator:Percentage change in the GDP deflator in 2011 = [(100 – 100)/100] ⨯ 100% = 0%.Percentage change in the GDP deflator in 2012 = [(200 – 100)/100] ⨯ 100% = 100%.Prices did not change from 2010 to 2011. Thus, the percentage change in the GDPdeflator is zero. Likewise, output levels did not change from 2011 to 2012. This meansthat the percentage change in real GDP is zero.c. Economic well-being rose more in 2010 than in 2011, since real GDP rose in 2011 but notin 2012. In 2011, real GDP rose but prices did not. In 2012, real GDP did not rise butprices did.5. a. Calculating Nominal GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $5) = $20Year 3: (5 bars ⨯ $6) = $30b. Calculating Real GDP:Year 1: (3 bars ⨯ $4) = $12Year 2: (4 bars ⨯ $4) = $16Year 3: (5 bars ⨯ $4) = $20c. Calculating the GDP delator:Year 1: $12/$12 ⨯ 100 = 100Year 2: $20/$16 ⨯ 100 = 125Year 3: $30/$20 ⨯ 100 = 150d. The growth rate from Year 2 to Year 3 = (16 – 12)/12 ⨯ 100% = 4/12 ⨯ 100% = 33.3%e. The inflation rate from Year 2 to Year 3 = (150 – 125)/125 ⨯ 100% = 25/125 ⨯ 100% =20%.f. To calculate the growth rate of real GDP, we could simply calculate the percentagechange in the quantity of bars. To calculate the inflation rate, we could measure thepercentage change in the price of bars.6.a. The growth rate of nominal GDP = 100% ⨯ [($14,256/$9,353)0.10– 1] = 4.3%b. The growth rate of the deflator = 100% ⨯ [(109.886.8)0.10– 1] = 2.4%c. Real GDP in 1999 (in 2005 dollars) is $9,353/(86.8/100) = $10,775.35.d. Real GDP in 2009 (in 2005 dollars) is $14,256/(109.8/100) = $12,983.61.e. The growth rate of real GDP = 100% ⨯ [($12,983.61/$10,775.35)0.10– 1] = 1.9%f. The growth rate of nominal GDP is higher than the growth rate of real GDP because ofinflation.7. Many answers are possible.8. a. GDP is the market value of the final good sold, $180.b. Value added for the farmer: $100.Value added for the miller: $150 – $100 = $50.Value added for the baker: $180 – $150 = $30.c. Together, the value added for the three producers is $100 + $50 + $30 = $180. This isthe value of GDP.9. In countries like India, people produce and consume a fair amount of food at home that isnot included in GDP. So GDP per person in India and the United States will differ by more than their comparative economic well-being.10. a. The increased labor-force participation of women has increased GDP in the United States,because it means more people are working and production has increased.b. If our measure of well-being included time spent working in the home and taking leisure,it would not rise as much as GDP, because the rise in women's labor-force participationhas reduced time spent working in the home and taking leisure.c. Other aspects of well-being that are associated with the rise in women's increased labor-force participation include increased self-esteem and prestige for women in theworkforce, especially at managerial levels, but decreased quality time spent with children, whose parents have less time to spend with them. Such aspects would be quite difficultto measure.11. a. GDP equals the dollar amount Barry collects, which is $400.b. NNP = GDP – depreciation = $400 – $50 = $350.c. National income = NNP = $350.d. Personal income = national income – retained earnings – indirect business taxes = $350– $100 – $30 = $220.e. Disposable personal income = personal income – personal income tax = $220 – $70 =$150.。
(NEW)曼昆《经济学原理(微观经济学分册)》(第6版)课后习题详解
目 录第1篇 导 言第1章 经济学十大原理第2章 像经济学家一样思考第3章 相互依存性与贸易的好处第2篇 市场如何运行第4章 供给与需求的市场力量第5章 弹性及其应用第6章 供给、需求与政府政策第3篇 市场和福利第7章 消费者、生产者与市场效率第8章 应用：赋税的代价第9章 应用：国际贸易第4篇 公共部门经济学第10章 外部性第11章 公共物品和公共资源第12章 税制的设计第5篇 企业行为与产业组织第13章 生产成本第14章 竞争市场上的企业第15章 垄 断第16章 垄断竞争第17章 寡 头第6篇 劳动市场经济学第18章 生产要素市场第19章 收入与歧视第20章 收入不平等与贫困第7篇 深入研究的论题第21章 消费者选择理论第22章 微观经济学前沿第1篇 导 言第1章 经济学十大原理一、概念题1．稀缺性（scarcity）答：经济学研究的问题和经济物品都是以稀缺性为前提的。
稀缺性指在给定的时间内，相对于人的需求而言，经济资源的供给总是不足的，也就是资源的有用性与有限性。
人类消费各种物品的欲望是无限的，满足这种欲望的物品，有的可以不付出任何代价而随意取得，称之为自由物品，如阳光和空气；但绝大多数物品是不能自由取用的，因为世界上的资源（包括物质资源和人力资源）是有限的，这种有限的、为获取它必须付出某种代价的物品，称为“经济物品”。
正因为稀缺性的客观存在，地球上就存在着资源的有限性和人类的欲望与需求的无限性之间的矛盾。
经济学的一个重要研究任务就是：“研究人们如何进行抉择，以便使用稀缺的或有限的生产性资源（土地、劳动、资本品如机器、技术知识）来生产各种商品，并把它们分配给不同的社会成员进行消费。
”也就是从经济学角度来研究使用有限的资源来生产什么、如何生产和为谁生产的问题。
2．经济学（economics）答：经济学是研究如何将稀缺的资源有效地配置给相互竞争的用途，以使人类的欲望得到最大限度满足的科学。
时下经常见诸国内报刊文献的“现代西方经济学”一词，大多也都在这个意义上使用。
曼昆经济学原理第六版英文答案
曼昆经济学原理第六版英文答案【篇一：曼昆《经济学原理(微观经济学分册)》第6版课后习题详解(1~2章)】class=txt>课后习题详解第一篇导言第1章经济学十大原理一、概念题1. 稀缺性稀缺性是指在给定的时间内，相对于人的需求而言，经济资源的供给总是不足的，也就是资源的有限性与人类的欲望无限性之间的矛盾。
2. 经济学经济学是研究如何将稀缺的资源有效地配置给相互竞争的用途，以使人类的欲望得到最大限度满足的科学。
其中微观经济学是以单个经济主体为研究对象，研究单个经济主体面对既定资源约束时如何进行选择的科学；宏观经济学则以整个国民经济为研究对象，主要着眼于经济总量的研究。
3. 效率效率是指人们在实践活动中的产出与投入比值或者是效益与成本比值，比值大效率高，比值小效率低。
它与产出或收益大小成正比，与投入或成本成反比。
4. 平等平等是指人与人的利益关系及利益关系的原则、制度、做法、行为等都合乎社会发展的需要，即经济成果在社会成员中公平分配的特性。
它是一个历史范畴，按其所产生的社会历史条件和社会性质的不同而不同，不存在永恒的公平；它也是一个客观范畴，尽管在不同的社会形态中内涵不同对其的理解不同，但都是社会存在的反映，具有客观性。
5. 机会成本机会成本是指将一种资源用于某种用途，而未用于其他用途所放弃的最大预期收益。
其存在的前提条件是：①资源是稀缺的；②资源具有多种用途；③资源的投向不受限制。
6. 理性人理性人是指系统而有目的地尽最大努力去实现其目标的人，是经济研究中所假设的、在一定条件下具有典型理性行为的经济活动主体。
7. 边际变动边际变动是指对行动计划的微小增量调整。
8. 激励激励是指引起一个人做出某种行为的某种东西。
9. 市场经济市场经济是指由家庭和企业在市场上的相互交易决定资源配置的经济，而资源配置实际上就是决定社会生产什么、生产多少、如何生产以及为谁生产的过程。
10. 产权产权是指个人拥有并控制稀缺资源的能力，也可以理解为人们对其所交易东西的所有权，即人们在交易活动中使自己或他人在经济利益上受益或受损的权力。
宏观经济学学习笔记(曼昆经济学原理)23章节
《经济学原理_宏观经济学》第23章 一国收入的衡量一、重要名词解释国内生产总值GDP ：在某一既定时期一个国家内生产的所有最终物品与服务的市场价值。
消费：家庭除购买新住房之外用于物品与服务的支出。
投资：用于资本设备、存货和建筑物的支出，包括家庭用于购买新住房的支出。
（投资可以分为：重置投资、自发投资、引致投资。
重置投资指用于补偿在生产过程中损耗掉的资本设备的投资，亦即折旧。
自发投资与“引致投资”相对而言，又称“自主投资”，指不受国民收入水平或消费水平等经济情况影响和限制的投资。
引致投资与“自发投资”相对而言，是由经济中的内生变量引起的投资，即为适应某些现有产品或整个经济的开支的实际增加或预期增加而发生的投资。
） 政府购买：地方、州和联邦政府用于物品与服务的支出。
净出口：外国人对国内生产的物品的支出（出口）减国内居民对外国物品的支出（进口）。
名义GDP ：按现期价格评价的物品与服务的生产。
真实GDP ：按不变价格评价的物品与服务的生产。
GDP 平减指数：用名义GDP 与真实GDP 的比率乘以100计算的物价水平衡量指标，即：100GDP GDP GDP=⨯名义平减指数真实二、重要摘抄1.GDP 同时衡量两件事：经济中所有人的总收入和用于经济中物品与服务产出的总支出。
由于这两件事实际上是相同的，所以CDP 既衡量总收入又衡量总支出。
对一个整体经济而言，收入必定等于支出。
因为交易对经济的收入和支岀做出了相同的贡献。
GDP 衡量货币的流量。
我们可以用两种方法中的一种来计算这个经济的GDP ：加总家庭的总支出或加总企业支付的总收入（工资、租金和利润）。
2.关于GDP 计算的若干注意事项：(1).在GDP 的计算中，价值使用商品价格来量化；(2).政府通过估算租金价值而把自有房产的价值包括在GDP 中，相当于假设所有者将房屋租给自己；(3).GDP 不包括非法生产与销售的东西，如毒品；(4).GDP 不包括在家庭内生产和消费，没有进入市场的物品；(5).GDP 只包括最终物品的价值，这是因为中间物品的价值已经包括在最终物品的价格中了；如果中间物品没有被使用，而是被储存了，就将存货加到GDP 上，而当存货中的物品以后被使用或出售时，存货的减少再从GDP 中扣除；(6).GDP 包括有形的物品与无形的服务，比如演唱会票价，也是GDP 的一部分；(7).GDP 包括现期生产的物品与服务，它不包括涉及过去生产的东西的交易，因此二手车的交易不包括在GDP 内；(8).如果物品是在一国国内生产的，无论生产者的国籍如何，都包括在该国的GDP 之中。
曼昆《经济学原理(宏观经济学分册)》(第6版)课后习题详解
内容摘要
本书特别适用于参加研究生入学考试指定考研参考书目为曼昆《经济学原理（宏观经济学分册）》的考生， 也可供各大院校学习曼昆《经济学原理（宏观经济学分册）》的师生参考。曼昆的《经济学原理》是世界上最流 行的初级经济学教材，也被众多院校列为经济类专业考研重要参考书目。为了帮助学生更好地学习这本教材，我 们有针对性地编著了它的配套辅导用书（均提供免费下载，免费升级）：1．曼昆《经济学原理（微观经济学分 册）》（第6版）笔记和课后习题详解（含考研真题）[视频讲解]2．曼昆《经济学原理（微观经济学分册）》 【教材精讲+考研真题解析】讲义与视频课程【35小时高清视频】3．曼昆《经济学原理（微观经济学分册）》 （第6版）课后习题详解4．曼昆《经济学原理（微观经济学分册）》（第5版）课后习题详解5．曼昆《经济学原 理（微观经济学分册）》配套题库【名校考研真题（视频讲解）+课后习题+章节练习+模拟试题】6．曼昆《经济 学原理（宏观经济学分册）》（第6版）笔记和课后习题详解（含考研真题）[视频讲解]7．曼昆《经济学原理 （宏观经济学分册）》【教材精讲+考研真题解析】讲义与视频课程【27小时高清视频】8．曼昆《经济学原理 （宏观经济学分册）》（第6版）课后习题详解9．曼昆《经济学原理（宏观经济学分册）》（第5版）课后习题 详解10．曼昆《经济学原理（宏观经济学分册）》配套题库【名校考研真题（视频讲解）+课后习题+章节练习+ 模拟试题】本书是曼昆《经济学原理（宏观经济学分册）》（第6版）教材的配套e书，参考国外教材的英文答案 和相关资料对曼昆《经济学原理（宏观经济学分册）》（第6版）教材每章的课后习题进行了详细的分析和解答， 并对个别知识点进行了扩展。课后习题答案久经修改，非常标准，特别适合应试作答和临考冲刺。另外，部分高 校，如武汉大学、深圳大学等，研究生入学考试部分真题就来自于该书课后习题，因此建议考生多加重视。
北大出版社_曼昆_宏观经济学_第六版_全英试题库_有答案解析_23章
Chapter 23 Measuring a Nation's IncomeMULTIPLE CHOICE1、Macroeconomists studya、 the decisions of individual households and firms、b、 the interaction between households and firms、c、 economy-wide phenomena、d、 regulations imposed on firms and unions、ANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Definitional2、Which of the following newspaper headlines is more closely related to what mi-croeconomists study than to what macroeconomists study?a、 Unemployment rate rises from 5 percent to 5、5 percent、b、 Real GDP grows by 3、1 percent in the third quarter、c、 Retail sales at stores show large gains、d、 The price of oranges rises after an early frost、ANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive3、Which of the following questions is more likely to be studied by a microeconomistthan a macroeconomist?a、 Why do prices in general rise by more in some countries than in others?b、 Why do wages differ across industries?c、 Why do national production and income increase in some periods and not in others?d、 How rapidly is GDP currently increasing?ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive4、Which of the following topics are more likely to be studied by a macroeconomist thanby a microeconomist?a、 the effect of taxes on the prices of airline tickets, and the profitability ofautomobile-manufacturing firmsb、 the price of beef, and wage differences between gendersc、 how consumers maximize utility, and how prices are established in markets foragricultural productsd、 the percentage of the labor force that is out of work, and differences in averageincome from country to countryANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive5、We would expect a macroeconomist, as opposed to a microeconomist, to be particularlyinterested ina、 explaining how economic changes affect prices of particular goods、b、 devising policies to deal with market failures such as externalities and marketpower、c、 devising policies to promote low inflation、d、 identifying those markets that are competitive and those that are not competitive、ANS: C DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive6、Which of the following is not a question that macroeconomists address?a、 Why is average income high in some countries while it is low in others?b、 Why does the price of oil rise when war erupts in the Middle East?c、 Why do production and employment expand in some years and contract in others?d、 Why do prices rise rapidly in some periods of time while they are more stable inother periods?ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Macroeconomics MSC: Interpretive7、The basic tools of supply and demand area、 useful only in the analysis of economic behavior in individual markets、b、 useful in analyzing the overall economy, but not in analyzing individual markets、c、 central to microeconomic analysis, but seldom used in macroeconomic analysis、d、 central to macroeconomic analysis as well as to microeconomic analysis、ANS: D DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Supply and demandMSC: Definitional8、Which of the following statistics is usually regarded as the best single measureof a society’s economic well-being?a、 the unemployment rateb、 the inflation ratec、 gross domestic productd、 the trade deficitANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional9、GDPa、 is used to monitor the performance of the overall economy but is not the singlebest measure of a society’s economic well-being、b、 is used to monitor the performance of the overall economy and is the single bestmeasure of a society’s economic well-being、c、 is not used to monitor the performance of the overall economy but is the singlebest measure of a society’s economic well-being、d、 is not used to monitor the performance of the overall economy and is not the singlebest measure of a society’s economic well-being、ANS: B DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: DefinitionalTHE ECONOMY'S INCOME AND EXPENDITURE1、Gross domestic product measuresa、 income and expenditures、b、 income but not expenditures、c、 expenditures but not income、d、 neither income nor expenditures、ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive2、Expenditures on a nation’s domestic productiona、 are less than its domestic production、b、 are equal to its domestic production、c、 are greater than its domestic production、d、 could be less than, equal to, or greater than its domestic production、ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional3、Income generated by a nation’s domestic productiona、 is less than its domestic production、b、 is equal to its domestic production、c、 is greater than its domestic production、d、 could be less than, equal to, or greater than its domestic production、ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional4、For an economy as a whole,a、 wages must equal profit、b、 consumption must equal saving、c、 income must equal expenditure、d、 the number of buyers must equal the number of sellers、ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive5、Which of the following statements about GDP is correct?a、 GDP measures two things at once: the total income of everyone in the economyand the total expenditure o n the economy’s output of goods and services、b、 Money continuously flows from households to firms and then back tohouseholds, and GDP measures this flow of money、c、GDP is generally regarded as the best single measure of a society’seconomic well-being、d、 All of the above are correct、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive6、Because every transaction has a buyer and a seller,a、 GDP is more closely associated with a n economy’s income than it is withan economy’s expenditure、b、every transaction contributes equally to an economy’s income and to itsexpenditure、c、 the number of firms must be equal to the number of households in a simplecircular-flow diagram、d、 f irms’ profits are necessarily zero in a simple circular-flow diagram、ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Interpretive7、For an economy as a whole, income must equal expenditure becausea、 the number of firms is equal to the number of households in an economy、b、 individuals can only spend what they earn each period、c、 every dollar of spending by some buyer is a dollar of income for someseller、d、 every dollar of saving by some consumer is a dollar of spending by someother consumer、ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Interpretive8、If an economy’s GDP falls, then it must be the case that the economy’sa、 income falls and saving rises、b、 income and saving both fall、c、 income falls and expenditure rises、d、 income and expenditure both fall、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive9、If an economy’s GDP rises, then it must be the case that the economy’sa、 income rises and saving falls、b、 income and saving both rise、c、 income rises and expenditure falls、d、 income and expenditure both rise、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive10、Which of the following statements about GDP is correct?a、 GDP measures two things at once: the total income of everyone in the economyand the unemployment rate of the economy’s labor force、b、 Money continuously flows from households to government and then back tohouseholds, and GDP measures this flow of money、c、GDP is to a nation’s economy as household income is to a household、d、 All of the above are correct、ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive11、In a simple circular-flow diagram, total income and total expenditure area、 never equal because total income always exceeds total expenditure、b、seldom equal because of the ongoing changes in an economy’s unemploymentrate、c、 equal only when the government purchases no goods or services、d、 always equal because every transaction has a buyer and a seller、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive12、In a simple circular-flow diagram,a、 households spend all of their income、b、 all goods and services are bought by households、c、 expenditures flow through the markets for goods and services, while incomeflows through the markets for the factors of production、d、 All of the above are correct、ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive13、In a simple circular-flow diagram, firms use the money they get from a saletoa、 pay wages to workers、b、 pay rent to landlords、c、pay profit to the firms’ owners、d、 All of the above are correct、ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Definitional14、In a simple circular-flow diagram, households buy goods and services withthe income they get froma、 wages、b、 rents、c、 profits、d、 All of the above are correct、ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Definitional15、In the actual economy, householdsa、 spend all of their income、b、 divide their income among spending, taxes, and saving、c、 buy all goods and services produced in the economy、d、 Both (a) and (c) are correct、ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive16、Total income from the domestic production of final goods and services equalsa、 only household expenditures for these goods、b、 only household and business expenditures for these goods、c、 only household and government expenditures for these goods、d、 the expenditures for these goods whoever buys them、ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Definitional17、In the actual economy, goods and services are purchased bya、 households, but not firms or the government、b、 households and firms, but not the government、c、 households and the government, but not firms、d、 households, firms, and the government、ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive18、According to the circular-flow diagram GDPa、 can be computed as the total income paid by firms or as expenditures onfinal goods and services、b、 can be computed as the total income paid by firms, but not as expenditureson final goods and services、c、 can be computed as expenditures on final goods and services, but not asthe total income paid by firms、d、 cannot be computed as either total income paid by firms or expenditureson final goods and services、ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: Definitional19、According to the circular-flow diagram GDPa、 can be computed as either the revenue firms receive from the sales of goodsand services or the payments they make to factors of production、b、 can be computed as the revenue firms receive from the sales of goods andservices but not as the payments they make to factors of production、c、 can be computed as payments firms make to factors of production but notas revenues they receive from the sales of goods and services、d、 cannot be computed as either the revenue firms receive or the payments theymake to factors of production、ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flow MSC: DefinitionalTHE MEASUREMENT OF GROSS DOMESTIC PRODUCT1、GDP is defined as thea、 value of all goods and services produced within a country in a given periodof time、b、 value of all goods and services produced by the citizens of a country,regardless of where they are living, in a given period of time、c、 value of all final goods and services produced within a country in a givenperiod of time、d、 value of all final goods and services produced by the citizens of a country,regardless of where they are living, in a given period of time、ANS: C DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Domestic productionMSC: Definitional2、Which of the following is a way to compute GDP?a、 add up the wages paid to all workersb、 add up the quantities of all final goods and servicesc、 add up the market values of all final goods and servicesd、 add up the difference between the market values of all final goods andservices and then subtract the costs of producing those goods and services ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive3、In order to include many different goods and services in an aggregate measure,GDP is computed using, primarily,a、 values of goods and services based on surveys of consumers、b、 market prices、c、 quantities purchased by a typical urban household、d、 profits from producing goods and services、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive4、Gross domestic product adds together many different kinds of goods andservices into a single measure of the value of economic activity、 To do this, GDP makes use ofa、 market prices、b、 statistical estimates of the value of goods and services to consumers、c、 prices based on the assumption that producers make no profits、d、 the maximum amount consumers would be willing to pay、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive5、In computing GDP, market prices are used to value final goods and servicesbecausea、 market prices do not change much over time, so it is easy to make comparisonsbetween years、b、 market prices reflect the values of goods and services、c、 market prices reflect the quantity sold、d、 None of the above is correct; market prices are not used in computing GDP、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Interpretive6、If the price of a Blu-Ray Disc player is three times the price of an MP3 player,then a Blue-Ray Disc player contributesa、 more than three times as much to GDP as does a MP3 player、b、 less than three times as much to GDP as does a MP3 player、c、 exactly three times as much to GDP as does a MP3 player、d、 None of the above is necessarily correct、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative7、Suppose that an economy produces 40,000 units of good A which sells at $4a unit and 20,000 units of good B which sells at $5 per unit、 Productionof good A contributesa、 2 times as much to GDP as the production of good B、b、 8/5 times as much to GDP as the production of good B、c、 5/4 times as much to GDP as the production of good B、d、 4/5 times as much to GDP as production of good B、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative8、Suppose that an economy produces 30,000 units of good A which sells at $3a unit and 60,000 units of good B which sells at $2 per unit、 Productionof good A contributesa、 1/2 times as much to GDP as the production of good B、b、 3/2 times as much to GDP as the production of good B、c、 3/4 times as much to GDP as the production of good B、d、 4/3 times as much to GDP as production of good B、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative9、Which of the following is included in GDP?a、 the market value of rental housing services, but not the market value ofowner-occupied housing services、b、 the market value of owner-occupied housing services, but not the marketvalue of rental housing servicesc、 both the market value of rental housing services and the market value ofowner-occupied housing servicesd、 neither the market value of owner-occupied housing services nor the marketvalue of rental housing services、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Definitional10、The value of the housing services provided by the economy's owner-occupiedhouses isa、 included in GDP, and the estimated rental values of the houses are usedto place a value on these housing services、b、 included in GDP, and the actual mortgage payments made on the houses areused to estimate the value of these rental services、c、 excluded from GDP since these services are not sold in any market、d、 excluded from GDP since the value of these housing services cannot beestimated with any degree of precision、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Definitional11、Suppose an apartment complex converts to a condominium, so that the formerrenters are now owners of their housing units、 Suppose further that a current estimate of the value of the condominium owners' housing services is the same as the rent they previously paid、 What happens to GDP as a result of this conversion?a、 GDP necessarily increases、b、 GDP necessarily decreases、c、 GDP is unaffected because neither the rent nor the estimate of the valueowner-occupied housing services is included in GDP、d、 GDP is unaffected because previously the rent payments were included inGDP and now the rent payments are replaced in GDP by the estimate of thevalue of owner occupied housing services、ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative12、James owns two houses、 He rents one house to the Johnson family for $10,000per year、 He lives in the other house、 If he were to rent the house in which he lives, he could earn $12,000 per year in rent、 How much do the housing services provided by the two houses contribute to GDP?a、 $0b、 $10,000c、 $12,000d、 $22,000ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative13、Ryan lives in an apartment where he pays $7,000 a year in rent、 Alexislives in a house that could be rented for $14,000 a year、 How much do these housing services contribute to GDP?a、 $21,000b、 $14,000c、 $7,000d、 $0ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing servicesMSC: Applicative14、Most goods and services produced at homea、 and most goods and services produced illegally are included in GDP、b、 are included in GDP while most goods and services produced illegally areexcluded from GDP、c、 are excluded from GDP while most goods and services produced illegally areincluded in GDPd、 and most goods and services produced illegally are excluded from GDP、ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Household chores | Illegal goods MSC: Definitional15、GDP excludes most items that are produced and sold illegally and most itemsthat are produced and consumed at home becausea、 the quality of these items is not high enough to contribute value to GDP、b、 measuring them is so difficult、c、 the government wants to discourage the production and consumption of theseitems、d、 these items are not reported on income tax forms、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Interpretive16、Estimates of the values of which of the following non-market goods or servicesare included in GDP?a、 the value of unpaid houseworkb、 the value of services provided by major household appliances purchased ina previous periodc、 the estimated rental value of owner-occupied homesd、 All of the above are included in GDP、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Housing services | Household chores MSC: Applicative17、Over the last few decades, Americans have chosen to cook less at home andeat more at restaurants、 This change in behavior, by itself, hasa、 reduced measured GDP、b、 not affected measured GDP、c、 increased measured GDP by the value of the restaurant meals、d、increased measured GDP by the value added by the restaurant’s preparationand serving of the meals、ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative18、Over time, people have come to rely more on market-produced goods and servicesand less on goods and services they produce for themselves、 For example, busy people with high incomes, rather than cleaning their own houses, hire people to clean their houses、 By itself, this change hasa、 caused measured GDP to fall、b、 not caused any change in measured GDP、c、 caused measured GDP to rise、d、 probably changed measured GDP, but in an uncertain direction; the directionof the change depends on the difference in the quality of the cleaning thathas resulted、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative19、Ralph pays someone to mow his lawn, while Mike mows his own lawn、 Regardingthese two practices, which of the following statements is correct?a、Only Ralph’s payments are included in GDP、b、Ralph’s payments as well as the estimated value of Mike’s mowing servicesare included in GDP、c、Neither Ralph’s payments nor the estimated value of Mike's mowing servicesis included in GDP、d、Ralph’s payments are included in GDP, while the estimated value of Mike’smowing services is included in GDP only if Mike voluntarily provides hisestimate of that value to the government、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Interpretive20、Susan switches from going to Speedy Lube for an oil change to changing theoil in her car herself、 Which of the following is correct? The value of changing the oil isa、 included in GDP whether Susan pays Speedy Lube to change it or changes itherself、b、 included in GDP if Susan pays Speedy Lube to change it but not if she changesit herself、c、 included in GDP if Susan changes it herself, but not if she pays SpeedyLube to change it、d、 not included in GDP whether Susan pays Speedy lube to change it or shechanges it herself、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative21、Rachel babysits for her sister for no pay、 When she babysits for someoneelse she charges $8 an hour、When is Rachel’s babysitt ing included in GDP?a、 When she babysits for her sister and when she babysits for someone else、b、 When she babysits for her sister, but not when she babysits for someoneelse、c、 When she babysits for someone else, but not when she babysits for hersister、d、 Neither when she babysits for her sister nor for someone else、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive22、Which of the following is not included in GDP?a、 carrots grown in your garden and eaten by your familyb、carrots purchased at a farmer’s market and eaten by your familyc、 carrots purchased at a grocery store and eaten by your familyd、 None of the above are included in GDP、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household choresMSC: Applicative23、 A professional gambler moves from a state where gambling is illegal to a statewhere gambling is legal、 Most of his income was, and continues to be, from gambling、 His movea、 raises GDP、b、 decreases GDP、c、 doesn't change GDP because gambling is never included in GDP、d、 doesn't change GDP because in either case his income is included、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative24、If a state made a previously-illegal activity, such as gambling orprostitution, legal, then, other things equal, GDPa、 decreases、b、 increases、c、 doesn't change because both legal and illegal production are included inGDP、d、 doesn't change because these activities are never included in GDP、ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative25、Which of the following is included in GDP?a、 medical marijuana purchased from a government-run pharmacy by a glaucomapatientb、 recreational marijuana purchased from a drug dealer by a college studentc、 recreational marijuana produced and consumed by a man in his atticd、 All of the above are included in GDP、ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative26、Darin grows and sells marijuana to Jennifer、 Thomas is an organic farmerwho sells broccoli to Jennifer、 Marijuana is an illegal good and broccoli is a legal good、 Assume that if Jennifer marries either, they give her whatthey use to sell her、 Which of the following statements is consistent with the way GDP is computed?a、 GDP will fall if Jennifer marries either Darin or Thomas、、b、 GDP will fall if Jennifer marries Darin but not if she marries Thomas、c、 GDP will fall if Jennifer marries Thomas but not if she marries Darin、d、 GDP remains the same whether Jennifer marries Darin or Thomas、ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goods MSC: Applicative27、Spots, Inc、 produces ink and sells it to Write on Target, which makes pens、The ink produced by Spots, Inc、 is calleda、 an inventory good、b、 a transitory good、c、 a final good、d、 an intermediate good、ANS: D DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Intermediate goodsMSC: Definitional28、The purchase of rice produced this period is included in GDP if the rice isa、 used in a meal a restaurant sells during the same period they buy the rice、b、 purchased by a family who uses it to make tuna casserole for its supper、c、 purchased by a frozen food company to increase its inventory、d、 B and C are correct、ANS: D DIF: 3 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Intermediate goodsMSC: Interpretive29、 A farmer sells $50,000 of apples to individuals who take them home to eatand $75,000 of apples to a company that uses them all to produce cider、 How much of the farmer’s sales will be included as apples in GDP?a、 $0b、 $50,000c、 $75,000d、 $125,000ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Intermediate goodsMSC: Applicative。
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Chapter 23 Measuring a Nation's IncomeMULTIPLE CHOICE1. Macroeconomists studya. the decisions of individual households and firms.b. the interaction between households and firms.c. economy-wide phenomena.d. regulations imposed on firms and unions.ANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Definitional2. Which of the following newspaper headlines is more closely related to what microeconomists studythan to what macroeconomists study?a. Unemployment rate rises from 5 percent to 5.5 percent.b. Real GDP grows by 3.1 percent in the third quarter.c. Retail sales at stores show large gains.d. The price of oranges rises after an early frost.ANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive3. Which of the following questions is more likely to be studied by a microeconomist than a macroe-conomist?a. Why do prices in general rise by more in some countries than in others?b. Why do wages differ across industries?c. Why do national production and income increase in some periods and not in others?d. How rapidly is GDP currently increasing?ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive4. Which of the following topics are more likely to be studied by a macroeconomist than by a microe-conomist?a. the effect of taxes on the prices of airline tickets, and the profitability ofautomobile-manufacturing firmsb. the price of beef, and wage differences between gendersc. how consumers maximize utility, and how prices are established in markets for agriculturalproductsd. the percentage of the labor force that is out of work, and differences in average income fromcountry to countryANS: D DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive5. We would expect a macroeconomist, as opposed to a microeconomist, to be particularly interested ina. explaining how economic changes affect prices of particular goods.b. devising policies to deal with market failures such as externalities and market power.c. devising policies to promote low inflation.d. identifying those markets that are competitive and those that are not competitive.ANS: C DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive6. Which of the following is not a question that macroeconomists address?a. Why is average income high in some countries while it is low in others?b. Why does the price of oil rise when war erupts in the Middle East?c. Why do production and employment expand in some years and contract in others?d. Why do prices rise rapidly in some periods of time while they are more stable in other periods? ANS: B DIF: 2 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: MacroeconomicsMSC: Interpretive7. The basic tools of supply and demand area. useful only in the analysis of economic behavior in individual markets.b. useful in analyzing the overall economy, but not in analyzing individual markets.c. central to microeconomic analysis, but seldom used in macroeconomic analysis.d. central to macroeconomic analysis as well as to microeconomic analysis.ANS: D DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Supply and demandMSC: Definitional8. Which of the following statistics is usually regarded as the best single measure of a society’s eco-nomic well-being?a. the unemployment rateb. the inflation ratec. gross domestic productd. the trade deficitANS: C DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional9. GDPa. is used to monitor the performance of the overall economy but is not the single best measure of asociety’s economic well-being.b. is used to monitor the performance of the overall economy and is the single best measure of asociety’s economic well-being.c. is not used to monitor the performance of the overall economy but is the single best measure of asociety’s economic well-being.d. is not used to monitor the performance of the overall economy and is not the single best measureof a society’s economic well-being.ANS: B DIF: 1 REF: 10-0 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: DefinitionalTHE ECONOMY'S INCOME AND EXPENDITURE1. Gross domestic product measuresa. income and expenditures.b. income but not expenditures.c. expenditures but not income.d. neither income nor expenditures.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive2. Expenditures on a nation’s domestic productiona. are less than its domestic production.b. are equal to its domestic production.c. are greater than its domestic production.d. could be less than, equal to, or greater than its domestic production.ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional3. Income generated by a nation’s domestic productiona. is less than its domestic production.b. is equal to its domestic production.c. is greater than its domestic production.d. could be less than, equal to, or greater than its domestic production.ANS: B DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Definitional4. For an economy as a whole,a. wages must equal profit.b. consumption must equal saving.c. income must equal expenditure.d. the number of buyers must equal the number of sellers.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive5. Which of the following statements about GDP is correct?a. GDP measures two things at once: the total income of everyone in the economy and thetotal expenditure on the economy’s output of goods and services.b. Money continuously flows from households to firms and then back to households, andGDP measures this flow of money.c. GDP is generally regarded as the best single measure of a society’s economicwell-being.d. All of the above are correct.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive6. Because every transaction has a buyer and a seller,a. GDP is more closely associated with an economy’s income than it is with an economy’sexpenditure.b. every transaction contributes equally to an economy’s income and to its expenditure.c. the number of firms must be equal to the number of households in a simplecircular-flow diagram.d. firms’ profits are necessarily zero in a simple circular-flow diagram.ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: Interpretive------------word文档可编辑-------------7. For an economy as a whole, income must equal expenditure becausea. the number of firms is equal to the number of households in an economy.b. individuals can only spend what they earn each period.c. every dollar of spending by some buyer is a dollar of income for some seller.d. every dollar of saving by some consumer is a dollar of spending by some otherconsumer.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: Interpretive8. If an economy’s GDP falls, then it must be the case that the economy’sa. income falls and saving rises.b. income and saving both fall.c. income falls and expenditure rises.d. income and expenditure both fall.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive9. If an economy’s GDP rises, then it must be the case that the economy’sa. income rises and saving falls.b. income and saving both rise.c. income rises and expenditure falls.d. income and expenditure both rise.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive10. Which of the following statements about GDP is correct?a. GDP measures two things at once: the total income of everyone in the economy and theunemployment rate of the economy’s labor force.b. Money continuously flows from households to government and then back tohouseholds, and GDP measures this flow of money.c. GDP is to a nation’s economy as household income is to a household.d. All of the above are correct.ANS: C DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive11. In a simple circular-flow diagram, total income and total expenditure area. never equal because total income always exceeds total expenditure.b. seldom equal because of the ongoing changes in an economy’s unemployment rate.c. equal only when the government purchases no goods or services.d. always equal because every transaction has a buyer and a seller.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive12. In a simple circular-flow diagram,a. households spend all of their income.b. all goods and services are bought by households.c. expenditures flow through the markets for goods and services, while income flowsthrough the markets for the factors of production.d. All of the above are correct.ANS: D DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive13. In a simple circular-flow diagram, firms use the money they get from a sale toa. pay wages to workers.b. pay rent to landlords.c. pay profit to the firms’ owners.d. All of the above are correct.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Definitional14. In a simple circular-flow diagram, households buy goods and services with the income theyget froma. wages.b. rents.c. profits.d. All of the above are correct.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Definitional15. In the actual economy, householdsa. spend all of their income.b. divide their income among spending, taxes, and saving.c. buy all goods and services produced in the economy.d. Both (a) and (c) are correct.ANS: B DIF: 2 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flow MSC: Interpretive16. Total income from the domestic production of final goods and services equalsa. only household expenditures for these goods.b. only household and business expenditures for these goods.c. only household and government expenditures for these goods.d. the expenditures for these goods whoever buys them.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: Definitional------------word文档可编辑-------------17. In the actual economy, goods and services are purchased bya. households, but not firms or the government.b. households and firms, but not the government.c. households and the government, but not firms.d. households, firms, and the government.ANS: D DIF: 1 REF: 10-1 NAT: AnalyticLOC: Understanding and applying economic models TOP: Circular flowMSC: Interpretive18. According to the circular-flow diagram GDPa. can be computed as the total income paid by firms or as expenditures on final goods andservices.b. can be computed as the total income paid by firms, but not as expenditures on finalgoods and services.c. can be computed as expenditures on final goods and services, but not as the total incomepaid by firms.d. cannot be computed as either total income paid by firms or expenditures on final goodsand services.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: Definitional19. According to the circular-flow diagram GDPa. can be computed as either the revenue firms receive from the sales of goods andservices or the payments they make to factors of production.b. can be computed as the revenue firms receive from the sales of goods and services butnot as the payments they make to factors of production.c. can be computed as payments firms make to factors of production but not as revenuesthey receive from the sales of goods and services.d. cannot be computed as either the revenue firms receive or the payments they make tofactors of production.ANS: A DIF: 2 REF: 10-1 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Circular flowMSC: DefinitionalTHE MEASUREMENT OF GROSS DOMESTIC PRODUCT1. GDP is defined as thea. value of all goods and services produced within a country in a given period of time.b. value of all goods and services produced by the citizens of a country, regardless ofwhere they are living, in a given period of time.c. value of all final goods and services produced within a country in a given period oftime.d. value of all final goods and services produced by the citizens of a country, regardless ofwhere they are living, in a given period of time.ANS: C DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Domestic production MSC: Definitional2. Which of the following is a way to compute GDP?a. add up the wages paid to all workersb. add up the quantities of all final goods and servicesc. add up the market values of all final goods and servicesd. add up the difference between the market values of all final goods and services and thensubtract the costs of producing those goods and servicesANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Interpretive3. In order to include many different goods and services in an aggregate measure, GDP iscomputed using, primarily,a. values of goods and services based on surveys of consumers.b. market prices.c. quantities purchased by a typical urban household.d. profits from producing goods and services.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Interpretive4. Gross domestic product adds together many different kinds of goods and services into a sin-gle measure of the value of economic activity. To do this, GDP makes use ofa. market prices.b. statistical estimates of the value of goods and services to consumers.c. prices based on the assumption that producers make no profits.d. the maximum amount consumers would be willing to pay.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Interpretive5. In computing GDP, market prices are used to value final goods and services becausea. market prices do not change much over time, so it is easy to make comparisons betweenyears.b. market prices reflect the values of goods and services.c. market prices reflect the quantity sold.d. None of the above is correct; market prices are not used in computing GDP.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Interpretive6. If the price of a Blu-Ray Disc player is three times the price of an MP3 player, then aBlue-Ray Disc player contributesa. more than three times as much to GDP as does a MP3 player.b. less than three times as much to GDP as does a MP3 player.c. exactly three times as much to GDP as does a MP3 player.d. None of the above is necessarily correct.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Applicative------------word文档可编辑-------------7. Suppose that an economy produces 40,000 units of good A which sells at $4 a unit and20,000 units of good B which sells at $5 per unit. Production of good A contributesa. 2 times as much to GDP as the production of good B.b. 8/5 times as much to GDP as the production of good B.c. 5/4 times as much to GDP as the production of good B.d. 4/5 times as much to GDP as production of good B.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market value MSC: Applicative8. Suppose that an economy produces 30,000 units of good A which sells at $3 a unit and60,000 units of good B which sells at $2 per unit. Production of good A contributesa. 1/2 times as much to GDP as the production of good B.b. 3/2 times as much to GDP as the production of good B.c. 3/4 times as much to GDP as the production of good B.d. 4/3 times as much to GDP as production of good B.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Market valueMSC: Applicative9. Which of the following is included in GDP?a. the market value of rental housing services, but not the market value of owner-occupiedhousing services.b. the market value of owner-occupied housing services, but not the market value of rentalhousing servicesc. both the market value of rental housing services and the market value ofowner-occupied housing servicesd. neither the market value of owner-occupied housing services nor the market value ofrental housing services.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Definitional10. The value of the housing services provided by the economy's owner-occupied houses isa. included in GDP, and the estimated rental values of the houses are used to place a valueon these housing services.b. included in GDP, and the actual mortgage payments made on the houses are used toestimate the value of these rental services.c. excluded from GDP since these services are not sold in any market.d. excluded from GDP since the value of these housing services cannot be estimated withany degree of precision.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Definitional11. Suppose an apartment complex converts to a condominium, so that the former renters arenow owners of their housing units. Suppose further that a current estimate of the value of the condominium owners' housing services is the same as the rent they previously paid.What happens to GDP as a result of this conversion?a. GDP necessarily increases.b. GDP necessarily decreases.c. GDP is unaffected because neither the rent nor the estimate of the value owner-occupiedhousing services is included in GDP.d. GDP is unaffected because previously the rent payments were included in GDP and nowthe rent payments are replaced in GDP by the estimate of the value of owner occupiedhousing services.ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Applicative12. James owns two houses. He rents one house to the Johnson family for $10,000 per year.He lives in the other house. If he were to rent the house in which he lives, he could earn $12,000 per year in rent. How much do the housing services provided by the two houses contribute to GDP?a. $0b. $10,000c. $12,000d. $22,000ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Applicative13. Ryan lives in an apartment where he pays $7,000 a year in rent. Alexis lives in a housethat could be rented for $14,000 a year. How much do these housing services contribute to GDP?a. $21,000b. $14,000c. $7,000d. $0ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Housing services MSC: Applicative14. Most goods and services produced at homea. and most goods and services produced illegally are included in GDP.b. are included in GDP while most goods and services produced illegally are excludedfrom GDP.c. are excluded from GDP while most goods and services produced illegally are includedin GDPd. and most goods and services produced illegally are excluded from GDP.ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Household chores | Illegal goodsMSC: Definitional------------word文档可编辑-------------15. GDP excludes most items that are produced and sold illegally and most items that are pro-duced and consumed at home becausea. the quality of these items is not high enough to contribute value to GDP.b. measuring them is so difficult.c. the government wants to discourage the production and consumption of these items.d. these items are not reported on income tax forms.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Interpretive16. Estimates of the values of which of the following non-market goods or services are includedin GDP?a. the value of unpaid houseworkb. the value of services provided by major household appliances purchased in a previousperiodc. the estimated rental value of owner-occupied homesd. All of the above are included in GDP.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economicsTOP: Housing services | Household chores MSC: Applicative17. Over the last few decades, Americans have chosen to cook less at home and eat more at res-taurants. This change in behavior, by itself, hasa. reduced measured GDP.b. not affected measured GDP.c. increased measured GDP by the value of the restaurant meals.d. increased measured GDP by the value added by the restaurant’s preparation and servingof the meals.ANS: D DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Applicative18. Over time, people have come to rely more on market-produced goods and services and lesson goods and services they produce for themselves. For example, busy people with high incomes, rather than cleaning their own houses, hire people to clean their houses. By itself, this change hasa. caused measured GDP to fall.b. not caused any change in measured GDP.c. caused measured GDP to rise.d. probably changed measured GDP, but in an uncertain direction; the direction of thechange depends on the difference in the quality of the cleaning that has resulted. ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Applicative19. Ralph pays someone to mow his lawn, while Mike mows his own lawn. Regarding thesetwo practices, which of the following statements is correct?a. Only Ralph’s payments are included in GDP.b. Ralph’s payments as well as the estimated value of Mike’s mowing services areincluded in GDP.c. Neither Ralph’s payments nor the estimated value of Mike's mowing services isincluded in GDP.d. Ralph’s payments are included in GDP, while the estimated value of Mike’s mowingservices is included in GDP only if Mike voluntarily provides his estimate of that value to the government.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Interpretive20. Susan switches from going to Speedy Lube for an oil change to changing the oil in her carherself. Which of the following is correct? The value of changing the oil isa. included in GDP whether Susan pays Speedy Lube to change it or changes it herself.b. included in GDP if Susan pays Speedy Lube to change it but not if she changes itherself.c. included in GDP if Susan changes it herself, but not if she pays Speedy Lube to changeit.d. not included in GDP whether Susan pays Speedy lube to change it or she changes itherself.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Applicative21. Rachel babysits for her sister for no pay. When she babysits for someone else she charges$8 an hour. When is Rachel’s babysitting included in GDP?a. When she babysits for her sister and when she babysits for someone else.b. When she babysits for her sister, but not when she babysits for someone else.c. When she babysits for someone else, but not when she babysits for her sister.d. Neither when she babysits for her sister nor for someone else.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: GDPMSC: Interpretive22. Which of the following is not included in GDP?a. carrots grown in your garden and eaten by your familyb. carrots purchased at a farmer’s market and eaten by your familyc. carrots purchased at a grocery store and eaten by your familyd. None of the above are included in GDP.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Household chores MSC: Applicative------------word文档可编辑-------------23. A professional gambler moves from a state where gambling is illegal to a state where gam-bling is legal. Most of his income was, and continues to be, from gambling. His movea. raises GDP.b. decreases GDP.c. doesn't change GDP because gambling is never included in GDP.d. doesn't change GDP because in either case his income is included.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Applicative24. If a state made a previously-illegal activity, such as gambling or prostitution, legal, then,other things equal, GDPa. decreases.b. increases.c. doesn't change because both legal and illegal production are included in GDP.d. doesn't change because these activities are never included in GDP.ANS: B DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Applicative25. Which of the following is included in GDP?a. medical marijuana purchased from a government-run pharmacy by a glaucoma patientb. recreational marijuana purchased from a drug dealer by a college studentc. recreational marijuana produced and consumed by a man in his atticd. All of the above are included in GDP.ANS: A DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Applicative26. Darin grows and sells marijuana to Jennifer. Thomas is an organic farmer who sells broc-coli to Jennifer. Marijuana is an illegal good and broccoli is a legal good. Assume that if Jennifer marries either, they give her what they use to sell her. Which of the following statements is consistent with the way GDP is computed?a. GDP will fall if Jennifer marries either Darin or Thomas..b. GDP will fall if Jennifer marries Darin but not if she marries Thomas.c. GDP will fall if Jennifer marries Thomas but not if she marries Darin.d. GDP remains the same whether Jennifer marries Darin or Thomas.ANS: C DIF: 2 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Illegal goodsMSC: Applicative27. Spots, Inc. produces ink and sells it to Write on Target, which makes pens. The ink pro-duced by Spots, Inc. is calleda. an inventory good.b. a transitory good.c. a final good.d. an intermediate good.ANS: D DIF: 1 REF: 10-2 NAT: AnalyticLOC: The study of economics and definitions in economics TOP: Intermediate goods MSC: Definitional。