史蒂芬 威廉森 宏观经济学 第四版 课后题答案 最新solution_ch4

《史蒂芬 威廉森 宏观经济学 第四版 课后题答案 最新solution_ch4》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、Chapter4ConsumerandFirmBehavior:TheWork-LeisureDecisionandProfitMaximization¢TextbookQuestionSolutionsQuestionsforReview1.Consumersconsumeanaggregateconsumptiongoodandleisure.2.Consumers’preferencesaresummarizedinautilityfunction.3.Thefirstpropertyisthatmoreisalwayspreferredtoless.Thisprop

2、ertyassuresusthataconsumptionbundlewithmoreofonegoodandnolessoftheothergoodthananysecondbundlewillalwaysbepreferredtothesecondbundle.Thesecondpropertyisthataconsumerlikesdiversityinhisorherconsumptionbundle.Thispropertyassuresusthatalinearcombinationoftwoconsumptionbundleswillalwaysbeprefe

3、rredtothetwooriginalbundles.Thethirdpropertyisthatbothconsumptionandleisurearenormalgoods.Thispropertyassuresusthatanincreaseinaconsumer’sincomewillalwaysinducetheindividualtoconsumemoreofbothconsumptionandleisure.4.Thefirstpropertyofindifferencecurvesisthattheyaredownwardsloping.Thisprope

4、rtyisadirectconsequenceofthepropertythatmoreisalwayspreferredtoless.Thesecondpropertyofindifferencecurvesisthattheyarebowedtowardtheorigin.Thispropertyisadirectconsequenceofconsumers’preferencefordiversity.5.Consumersmaximizetheamountofutilitytheycanderivefromtheirgivenamountofavailableres

5、ources.6.Theoptimalbundlehasthepropertythatitrepresentsapointoftangencyofthebudgetlinewithanindifferencecurve.Anequivalentpropertyisthatthemarginalrateofsubstitutionofleisureforconsumptionandleisureisequaltotherealwage.7.Inresponsetoanincreaseindividendincome,theconsumerwillconsumemoregood

6、sandmoreleisure.8.Inresponsetoanincreaseintherealvalueofalump-sumtax,theconsumerwillconsumelessgoodsandlessleisure.©2011PearsonEducation,Inc.PublishingasAddisonWesley28Williamson•Macroeconomics,FourthEdition9.Anincreaseintherealwagemakestheconsumermorewelloff.Asaresultofthispureincomeeffec

7、t,theconsumerwantsmoreleisure.Alternatively,theincreaseintherealwageinducesasubstitutioneffectinwhichtheconsumeriswillingtoconsumelessleisureinexchangeforworkingmorehours(consuminglessleisure).Theneteffectofthesetwocompetingforcesistheoreticallyambiguous.10.Th