曼昆宏观经济学课后题答案

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1、Chapter23MeasuringanatiorfsincomeSOLUTIONSTOTEXTPROBLEMS:QuickQuizzes:TheanswerstotheQuickQuizzescanalsobefoundneartheendofthetextbook.1.Grossdomesticproductmeasurestwothingsatonce:(1)thetotalincomeofeveryoneintheeconomyand(2)thetotalexpenditureontheeconomy'soutputoff

2、inalgoodsandservices.Itcanmeasurebothofthesethingsatoncebecauseallexpenditureintheeconomyendsupassomeone'sincome.2.TheproductionofapoundofcaviarcontributesmoretoGDPthantheproduct!onofapoundofhamburgerbecausethecontributiontoGDPismeasuredbymarketvalueandthepriceofapoun

3、dofcaviarismuchhigherthanthepriceofapoundofhamburger.3.Thefourcomponentsofexpenditureare:(1)consumption;(2)investment;(3)governmentpurchases;and(4)netexports.Thelargestcomporientisconsumption,whichaccountsformorethantwo-thirdsoftotalexpenditure.4.RealGDPistheproductio

4、nofgoodsandservicesvaluedatconstantprices.NominalGDPistheproduct!onofgoodsandservicesvaluedatcurrentprices.RealGDPisabettermeasureofeconomicwell-beingbecausechangesinrealGDPreflectchangesintheamountofoutputbeingproduced.Thus,ariseinrealGDPmeanspeoplehaveproducedmorego

5、odsandservices,butariseinnominalGDPcouldoccureitherbecauseofincreasedproductionorbecauseofhigherprices.5.AlthoughGDPisnotaperfectmeasureofwell-being,policymakersshouldcareaboutitbecausealargerGDPmeansthatanationcanaffordbetterhealthcare,bettereducationalsystems,andmor

6、eofthematerialnecessitiesoflife.QuestionsforReview:1.Aneconomy'sincomemustequalitsexpenditure,becauseeverytransactionhasabuyerandaseller.Thus,expenditurebybuyersmustequalincomebysellers.2.TheproductionofaluxurycarcontributesmoretoGDPthantheproductionofaneconomycarbeca

7、usetheluxurycarhasahighermarketvalue.3.ThecontributiontoGDPis$3,themarketvalueofthebread,whichisthefinalgoodthatissold.4.ThesaleofusedrecordsdoesnotaffectGDPatallbecauseitinvolvesnocurrentproduction.5.ThefourcomponentsofGDPareconsumption,suchasthepurchaseofamusicCD;in

8、vestment,suchasthepurchaseofacomputerbyabusiness;governmentpurchases,suchasanorderformilitaryaircraft;andnetexports,suchasth