克鲁格曼国际经济学答案~

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1、-Chapter31.In1986,thepriceofoilonworldmarketsdroppedsharply.SincetheUnitedStatesisanoil-importingcountry,thiswaswidelyregardedasgoodfortheU.S.economy.YetinTexasandLouisiana1986wasayearofeconomicdecline.Why?ItcandeducethatTexasandLouisianaareoil-producingstatesofUnited

2、States.Sowhenthepriceofoilonworldmarketsdeclined,therealwageofthisindustryfellintermsofothergoods.Thismightbethereasonofeconomicdeclineinthesetwostatesin1986.2。Aneconomycanproducegood1usinglaborandcapitalandgood2usinglaborandland.Thetotalsupplyoflaboris100units.Givent

3、hesupplyofcapital,theoutputsofthetwogoodsdependsonlaborinputasfollows:Toanalyzetheeconomy’sproductionpossibilityfrontier,considerhowtheoutputmixchangesaslaborisshiftedbetweenthetwosectors.a.Graphtheproductionfunctionsforgood1andgood2.-a.Graphtheproductionpossibilityfr

4、ontier.Whyisitcurved?Q1Q2L1L2PPFThePPFiscurvedduetodecliningmarginalproductoflaborineachgood.Thetotallaborsupplyisfixed.SoasL1rises,MPL1falls;correspondingly,asL2falls,MPL2rises.SoPPgetssteeperaswemovedownittotheright.2.Themarginalproductoflaborcurvescorrespondingtoth

5、eproductionfunctionsinproblem2areasfollows:a.Supposethatthepriceofgood2relativetothatofgood1is2.Determinegraphicallythewagerateandtheallocationoflaborbetweenthetwosectors.Withtheassumptionthatlaborisfreelymobilebetweensectors,itwillmovefromthelow-wagesectortothehigh-w

6、agesectoruntilwagesareequalized.Soinequilibrium,thewagerateisequaltothevalueoflabor’smarginalproduct.-Theabscissaofpointofintersectionillustratedaboveshouldbebetween(20,30).Sinceweonlyhavetofindouttheapproximateanswer,linearfunctioncouldbeemployed.Thelaborallocationbe

7、tweenthesectorsisapproximatelyL1=27andL2=73.Thewagerateisapproximately0.98.a.Usingthegraphdrawnforproblem2,determinetheoutputofeachsector.Thenconfirmgraphicallythattheslopoftheproductionpossibilityfrontieratthatpointequalstherelativeprice.Q1Q2L1L2PPFTherelativepriceis

8、P2/P1=2andwehavegottheapproximatelaborallocation,sowecanemploythelinearfunctionagaintocalculatetheapproximateoutputofeachsec