曼昆经济学原理(宏观分册)第23章课后习题答案(英文版)

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1、Chapter23/MeasuringaNation’sIncome❖408QuickQuizzes:1.Grossdomesticproductmeasurestwothingsatonce:(1)thetotalincomeofeveryoneintheeconomyand(2)thetotalexpenditureontheeconomy’soutputoffinalgoodsandservices.Itcanmeasurebothofthesethingsatoncebecauseallexpenditureinthee

2、conomyendsupassomeone’sincome.2.TheproductionofapoundofcaviarcontributesmoretoGDPthantheproductionofapoundofhamburgerbecausethecontributiontoGDPismeasuredbymarketvalueandthepriceofapoundofcaviarismuchhigherthanthepriceofapoundofhamburger.3.Thefourcomponentsofexpendit

3、ureare:(1)consumption;(2)investment;(3)governmentpurchases;and(4)netexports.Thelargestcomponentisconsumption,whichaccountsformorethan70percentoftotalexpenditure.4.RealGDPistheproductionofgoodsandservicesvaluedatconstantprices.NominalGDPistheproductionofgoodsandservic

4、esvaluedatcurrentprices.RealGDPisabettermeasureofeconomicwell-beingbecausechangesinrealGDPreflectchangesintheamountofoutputbeingproduced.Thus,ariseinrealGDPmeanspeoplehaveproducedmoregoodsandservices,butariseinnominalGDPcouldoccureitherbecauseofincreasedproductionorb

5、ecauseofhigherprices.5.AlthoughGDPisnotaperfectmeasureofwell-being,policymakersshouldcareaboutitbecausealargerGDPmeansthatanationcanaffordbetterhealthcare,bettereducationalsystems,andmoreofthematerialnecessitiesoflife.QuestionsforReview:1.Aneconomy'sincomemustequalit

6、sexpenditure,becauseeverytransactionhasabuyerandaseller.Thus,expenditurebybuyersmustequalincomebysellers.2.TheproductionofaluxurycarcontributesmoretoGDPthantheproductionofaneconomycarbecausetheluxurycarhasahighermarketvalue.3.ThecontributiontoGDPis$3,themarketvalueof

7、thebread,whichisthefinalgoodthatissold.4.ThesaleofusedrecordsdoesnotaffectGDPatallbecauseitinvolvesnocurrentproduction.5.ThefourcomponentsofGDPareconsumption,suchasthepurchaseofaDVD;investment,suchasthepurchaseofacomputerbyabusiness;governmentpurchases,suchasanorderf

8、ormilitaryaircraft;andnetexports,suchasthesaleofAmericanwheattoRussia.(Manyotherexamplesarepossible.)6.EconomistsuserealGDPratherth