克鲁格曼国际经济学答案解析

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1、.WORD格式整理..Chapter31.In1986,thepriceofoilonworldmarketsdroppedsharply.SincetheUnitedStatesisanoil-importingcountry,thiswaswidelyregardedasgoodfortheU.S.economy.YetinTexasandLouisiana1986wasayearofeconomicdecline.Why?ItcandeducethatTexasandLouisianaareoil-producingstatesofUnitedStates.Sowhenth

2、epriceofoilonworldmarketsdeclined,therealwageofthisindustryfellintermsofothergoods.Thismightbethereasonofeconomicdeclineinthesetwostatesin1986.2。Aneconomycanproducegood1usinglaborandcapitalandgood2usinglaborandland.Thetotalsupplyoflaboris100units.Giventhesupplyofcapital,theoutputsofthetwogood

3、sdependsonlaborinputasfollows:Toanalyzetheeconomy’sproductionpossibilityfrontier,considerhowtheoutputmixchangesaslaborisshiftedbetweenthetwosectors.a.Graphtheproductionfunctionsforgood1andgood2...专业知识分享...WORD格式整理..a.Graphtheproductionpossibilityfrontier.Whyisitcurved?Q1Q2L1L2PPFThePPFiscurve

4、dduetodecliningmarginalproductoflaborineachgood.Thetotallaborsupplyisfixed.SoasL1rises,MPL1falls;correspondingly,asL2falls,MPL2rises.SoPPgetssteeperaswemovedownittotheright.2.Themarginalproductoflaborcurvescorrespondingtotheproductionfunctionsinproblem2areasfollows:a.Supposethatthepriceofgood

5、2relativetothatofgood1is2.Determinegraphicallythewagerateandtheallocationoflaborbetweenthetwosectors.Withtheassumptionthatlaborisfreelymobilebetweensectors,itwillmovefromthelow-wagesectortothehigh-wagesectoruntilwagesareequalized.Soinequilibrium,thewagerateisequaltothevalueoflabor’smarginalpr

6、oduct...专业知识分享...WORD格式整理..Theabscissaofpointofintersectionillustratedaboveshouldbebetween(20,30).Sinceweonlyhavetofindouttheapproximateanswer,linearfunctioncouldbeemployed.ThelaborallocationbetweenthesectorsisapproximatelyL1=27andL2=73.Thewagerateisapproximately0.98.a.Usingthegraphdrawnforpr

7、oblem2,determinetheoutputofeachsector.Thenconfirmgraphicallythattheslopoftheproductionpossibilityfrontieratthatpointequalstherelativeprice.Q1Q2L1L2PPFTherelativepriceisP2/P1=2andwehavegottheapproximatelaborallocation,sowecanemploythelinearfun