精选-布兰查德宏观经济学课后答案
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Chapter 1
1. a.
True.
b.
True.
c.
False.
d.
True.
e.
False.
f.
False.
2. a. 1960-98 1997-99
-------------------
US 3.1% 3.8%
EU 3.1% 2.5%
Japan 5.8%-1.0%
While the US growth rate higher than its long-run average over the period, the growth rate has
slowed relative to long-run averages in both the EU and Japan over the last few years.
b. Sometimes the economy is growing quickly, other times it is growing slowly or even contracting. The last few years of rapid growth in the US do not imply that the long-run average rate of growth has increased back to its pre-1974 level.
3. a. The data in the web page are: Real Gross Domestic Product,Real Final Sales of Domestic Product, and Real Gross National Product, Quarterly, 1959-96[Percent change from preceding quarter]
--------------------------------------------------------
Gross Final sales Gross
domestic of domestic nation
al
product product produc
t
-------------------------------------------------------
1959: I 8.6 9.2 8.6
II11.27.
311. 1
III-0.3 5.
3-0. 2
IV 1.7-1.
31. 9
1996: I 1.8 2.6 1.8
II 6.0 5.
25. 7
III 1.00.
20. 6
IV 4.3 4.
54. 9
--------------------------------------------------------
suggesting that recessions typically last two-three quarters and that the most
severe recessions in that period were the recessions of 1974-75 and 1981-82.
b.
Percentage Changes
in: Output Growth
Inflation
1968: 4.7 4.4
I 7.5 4.
7 II 7.1 4.
1 III 3.0 3.
8 IV 1.8 5.
5 1969: 3.0 4.7
I 6.2 3.
8 II 1.0 5.
0 III 2.3 5.
8 IV -2.0 5.
1 1970: 0.1 5.3
I -0.7 6.
0 II 0.6 5.
7 III 3.7 3.
4 IV -3.9 5.
4 1971: 3.3 5.2
I 11.3 6.
4 II 2.3 5.
5 II I 2.
6 4.
4 IV 1.1 3.
3 If history simply repeats itself, the United States might have a short recession (lasting perhaps one
year) accompanied by an acceleration in the rate of inflation by about one percentage point.
4. a. Banking services, business services.
b. Not only has the relative demand for skilled workers increased but the industries where this effect is the strongest are making up a greater fraction of the economy.
5. 1. Low unemployment might lead to an increase in inflation.
2. Although measurement error certainly contributes to the measured slowdown in growth, there are other issues to consider as well, including the
productivity of new research and accumulation of new capital.
3. Although labor market rigidities may be important, it is also important to consider that these rigidities may not be excessive, and that high unemployment may arise from flawed macroeconomic policies.
4. Although there were serious problems with regard to the management of Asian financial systems, it is important to consider the possibility that the flight of foreign capital from these
countries worsened the situation by causing a severe stock market crash and exchange rate depreciation.