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1、曼昆宏观经济学第七版英文答案聚合版AnswerstoTextbookQuestionsandProblemsCHAPTER1TheScienceofMacroeconomicsQuestionsforReview1.Microeconomicsisthestudyofhowindividualfirmsandhouseholdsmakedecisions,andhowtheyinteractwithoneanother.Microeconomicmodelsoffirmsandhouseholdsarebasedonprin
2、ciplesofoptimization—firmsandhouseholdsdothebesttheycangiventheconstraintstheyface.Forexample,householdschoosewhichgoodstopur-chaseinordertomaximizetheirutility,whereasfirmsdecidehowmuchtoproduceinordertomaximizeprofits.Incontrast,macroeconomicsisthestudyoftheecono
3、myasawhole;itfocusesonissuessuchashowtotaloutput,totalemployment,andtheoverallpricelevelaredetermined.Theseeconomy-widevariablesarebasedontheinteractionofmanyhouseholdsandmanyfirms;therefore,microeconomicsformsthebasisformacroeconomics.2.Economistsbuildmodelsasamea
4、nsofsummarizingtherelationshipsamongeconomicvariables.Modelsareusefulbecausetheyabstractfromthemanydetailsintheecono-myandallowonetofocusonthemostimportanteconomicconnections.3.Amarket-clearingmodelisoneinwhichpricesadjusttoequilibratesupplyanddemand.Market-clearin
5、gmodelsareusefulinsituationswherepricesareflexible.Yetinmanysituations,flexiblepricesmaynotbearealisticassumption.Forexample,laborcontractsoftensetwagesforuptothreeyears.Or,firmssuchasmagazinepub-lisherschangetheirpricesonlyeverythreetofouryears.Mostmacroeconomists
6、believethatpriceflexibilityisareasonableassumptionforstudyinglong-runissues.Overthelongrun,pricesrespondtochangesindemandorsupply,eventhoughintheshortruntheymaybeslowtoadjust.ProblemsandApplications1.Mostofthemacroeconomicissuesthathavebeeninthenewslately(early2009
7、)arerelatedtotheworseningrecessionthatofficiallybeganinDecemberof2007.Theecon-omyhasnotseenarecessionlikethissincetheback-to-backrecessionsof1980–1982.Noteworthytopicswouldbeanunemploymentratethathit8.1%inFebruary2009,arisingsavingrate,aninflationratethatisnearzero
8、,outputgrowththatwas–6.3%inthefourthquarterof2008,theongoingfinancialandhousingmarketcrises,andnewsaboutthestimuluspackagedesignedtohelptheeconom
