曼昆 宏观经济学 第九版 答案 英文版 solution manual for macroeconomics 9th edition by mankiw

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1、AnswerstoTextbookQuestionsandProblemsCHAPTER1TheScienceofMacroeconomicsQuestionsforReview1.Microeconomicsisthestudyofhowindividualfirmsandhouseholdsmakedecisions,andhowtheyinteractwithoneanother.Microeconomicmodelsoffirmsandhouseholdsarebasedonprinciplesofoptimization—firmsandhouseholdsdothebestthe

2、ycangiventheconstraintstheyface.Forexample,householdschoosewhichgoodstopurchaseinordertomaximizetheirutility,whereasfirmsdecidehowmuchtoproduceinordertomaximizeprofits.Incontrast,macroeconomicsisthestudyoftheeconomyasawhole;itfocusesonissuessuchashowtotaloutput,totalemployment,andtheoverallpricelev

3、elaredetermined.Theseeconomy-widevariablesarebasedontheinteractionofmanyhouseholdsandmanyfirms;therefore,microeconomicsformsthebasisformacroeconomics.2.Economistsbuildmodelsasameansofsummarizingtherelationshipsamongeconomicvariables.Modelsareusefulbecausetheyabstractfromthemanydetailsintheeconomyan

4、dallowonetofocusonthemostimportanteconomicconnections.3.Amarket-clearingmodelisoneinwhichpricesadjusttoequilibratesupplyanddemand.Market-clearingmodelsareusefulinsituationswherepricesareflexible.Yetinmanysituations,flexiblepricesmaynotbearealisticassumption.Forexample,laborcontractsoftensetwagesfor

5、uptothreeyears.Or,firmssuchasmagazinepublisherschangetheirpricesonlyeverythreetofouryears.Mostmacroeconomistsbelievethatpriceflexibilityisareasonableassumptionforstudyinglong-runissues.Overthelongrun,pricesrespondtochangesindemandorsupply,eventhoughintheshortruntheymaybeslowtoadjust.ProblemsandAppl

6、ications1.MonetarypolicyintheUnitedStatesandtheEuropeanUnionhasbeenabigtopicofconversationinearly2015.TheEUembarkeduponaquantitativeeasingpolicyinMarch2015inanattempttostimulategrowthandpreventdeflation.TherehasbeensomeconcernthattheinflationrateinEuropewillturnnegative.IntheUnitedStates,thereiscon

7、tinueddiscussionandspeculationconcerningwhentheFederalReservemightchoosetoincreasethetargetfederalfundsrate.AlsointheUnitedStates,theunemploymentratehasdeclinedtoabout5.5percentandthissuggeststhatwagesmaybe