武汉大学经济与管理学院《西方经济学》试题(A卷)2007年7月6日

武汉大学经济与管理学院

《西方经济学》试题(A卷)2007年7月6日

主讲：陈忠斌审核：

姓名: 学号: 分数:

1、What is the difference between the aggregate supply and aggregate demand model used in macroeconomics and microeconomics？（Score:15）

2、Suppose an econom y’s real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP? Assume that population was 100 in year 1 and 102 in year 2. What is the growth rate of GDP per capita?（Score:15）

3、Assume the consumption schedule for a private open economy is such that C = 50 + 0.8Y. Assume further that planned investment and net exports are independent of the level of income and constant at I g= 30 and X n = 10. Recall also that in equilibrium the real output produced (Y) is equal to the aggregate expenditures: Y= C+ I g+ X n. (a) Calculate the equilibrium level of income for this economy.

(b)What will happen to equilibrium Y if I g changes to 10? What does this tell you about the size of the multiplier?（Score:15）

4、Why is each of the following incorrect? State the correct proposition. （Score:15）

a)Marginal revenue product is calculated as total revenue earned per worker.

b)Under competition, workers get paid the total output produced minus the costs of raw materials.

5、Draw the supply and demand curves for the oil market.. Now suppose that a workable electric car shifts demand away from oil. Draw the new demand curve and the new equilibrium. Describe the outcome in terms of the price of oil, the quantity consumed, and the total income of the oil producers.

ing the supply and demand analysis of interest, explain how each of the following would affect interest rates in capital theory: （Score:15）

a. An innovation that increased the marginal product of capital at each level of capital.

b. A decrease in the desired wealth holdings of households.

c. A 50 percent tax on the return on capital (in the short run)

7、What is comparative advantage? Suppose thatTom produce half kilogram beef and two kilogram potatoes per hour. Jerry produces 1.5 kilogram beef and 3 kilogram potatoes per hour. Who should

produce beef? Who should produce potato? （Score:10）

武汉大学经济与管理学院

《西方经济学》(A卷)参考答案2007年7月6日

1. 宏观经济学的总供给和总需求模型看起来、听起来都与微观经济学的标准供求模型极为相似，它们是否有联系？What is the difference between the aggregate supply and aggregate demand model used in macroeconomics and microeconomics？（15分）

答：1. The aggregate supply and aggregate demand model used in macroeconomics is not very similar to the market demand and market supply model used in microeconomics. While the workings of both models (the distinction between shifts of the curves versus movement along the curves) are similar, these models are really unrelated. The "P" in the microeconomic model stands for the relative price of a good (or the ratio at which two goods are traded), whereas the "P" in the macroeconomic model stands for the average price level of all goods and services produced in this country, measured in money terms.

2、假设某一经济体的实际GDP第一年为3万美元，第二年为3.12万美元。求实际GDP的增长率？再假设第一年的人口为100，第二年的人口为102。求人均GDP的增长率？（Suppose an economy’s real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP? Assume that population was 100 in year 1 and 102 in year 2. What is the growth rate of GDP per capita?）（15分）

答：Growth rate of real GDP = 4 percent (= $31,200 - $30,000)/$30,000). GDP per capita in year 1 = $300 (= $30,000/100). GDP per capita in year 2 = $305.88 (= $31,200/102). Growth

rate of GDP per capita is 1.96 percent = ($305.88 - $300)/300).

3、Assume the consumption schedule for a private open economy is such that C = 50 + 0.8Y. Assume

further that planned investment and net exports are independent of the level of income and constant at I g= 30 and X n = 10. Recall also that in equilibrium the real output produced (Y) is equal to the aggregate expenditures: Y = C + I g + X n.

a Calculate the equilibrium level of income for this economy. Check your work by

expressing the consumption, investment, and net export schedules in tabular form and

determining the equilibrium GDP.

b What will happen to equilibrium Y if I g changes to 10? What does this tell you about

the size of the multiplier?

答3：Answers: (a)

.

450

$

,

90

$

2.0

,

90

$

8.0

10

$

30

$

8.0

50

$ )..

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Y Y

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the equilibrium level of income for this economy is $450.