克鲁格曼国际经济学答案解析

《克鲁格曼国际经济学答案解析》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。

1、WORD文档下载可编辑Chapter31.In1986,thepriceofoilonworldmarketsdroppedsharply.SincetheUnitedStatesisanoil-importingcountry,thiswaswidelyregardedasgoodfortheU.S.economy.YetinTexasandLouisiana1986wasayearofeconomicdecline.Why?ItcandeducethatTexasandLouisianaareoil-prod

2、ucingstatesofUnitedStates.Sowhenthepriceofoilonworldmarketsdeclined,therealwageofthisindustryfellintermsofothergoods.Thismightbethereasonofeconomicdeclineinthesetwostatesin1986.2。Aneconomycanproducegood1usinglaborandcapitalandgood2usinglaborandland.Thetotalsu

3、pplyoflaboris100units.Giventhesupplyofcapital,theoutputsofthetwogoodsdependsonlaborinputasfollows:Toanalyzetheeconomy’sproductionpossibilityfrontier,considerhowtheoutputmixchangesaslaborisshiftedbetweenthetwosectors.a.Graphtheproductionfunctionsforgood1andgoo

4、d2.专业技术资料分享WORD文档下载可编辑a.Graphtheproductionpossibilityfrontier.Whyisitcurved?Q1Q2L1L2PPFThePPFiscurvedduetodecliningmarginalproductoflaborineachgood.Thetotallaborsupplyisfixed.SoasL1rises,MPL1falls;correspondingly,asL2falls,MPL2rises.SoPPgetssteeperaswemovedow

5、nittotheright.2.Themarginalproductoflaborcurvescorrespondingtotheproductionfunctionsinproblem2areasfollows:a.Supposethatthepriceofgood2relativetothatofgood1is2.Determinegraphicallythewagerateandtheallocationoflaborbetweenthetwosectors.Withtheassumptionthatlab

6、orisfreelymobilebetweensectors,itwillmovefromthelow-wagesectortothehigh-wagesectoruntilwagesareequalized.Soinequilibrium,thewagerateisequaltothevalueoflabor’smarginalproduct.专业技术资料分享WORD文档下载可编辑Theabscissaofpointofintersectionillustratedaboveshouldbebetween(20

7、,30).Sinceweonlyhavetofindouttheapproximateanswer,linearfunctioncouldbeemployed.ThelaborallocationbetweenthesectorsisapproximatelyL1=27andL2=73.Thewagerateisapproximately0.98.a.Usingthegraphdrawnforproblem2,determinetheoutputofeachsector.Thenconfirmgraphicall

8、ythattheslopoftheproductionpossibilityfrontieratthatpointequalstherelativeprice.Q1Q2L1L2PPFTherelativepriceisP2/P1=2andwehavegottheapproximatelaborallocation,sowecanemploythelinearfunctio