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ID:47878068
大小:181.01 KB
页数:29页
时间:2019-11-17
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1、AllsolutionsofmacroeconomyChapter1TenPrinciplesofEconomicsQuickQuizzes1.Thefourprinciplesofeconomicdecisionmakingare:(1)peoplefacetradeoffs;(2)thecostofsomethingiswhatyougiveuptogetit;(3)rationalpeoplethinkatthemargin;and(4)peoplerespondtoincentives・Peoplefacetradeoffsbecausetogetonethingthattheyl
2、ike,theyusuallyhavetogiveupanotherthingthattheylike.Thecostofsomethingiswhatyougiveuptogetit,notjustintermsofmonetarycostsbutallopportunitycosts.Rationalpeoplethinkatthemarginbytakinganactionifandonlyifthemarginalbenefitsexceedthemarginalcosts.Peoplerespondtoincentivesbecauseastheycomparebenefitst
3、ocosts,achangeinincentivesmaycausetheirbehaviortochange・2.Thethreeprinciplesconcerningeconomicinteractionsare:(1)tradecanmakeeveiyonebetteroff;(2)marketsareusuallyagoodwaytoorganizeeconomicactivity;and(3)governmentscansometimesimprovemarketoutcomes・Tradecanmakeeveryonebelteroffbecauseitallowscount
4、riestospecializeinwhattheydobestandtoenjoyawidervarietyofgoodsandservices・Marketsareusuallyagoodwaytoorganizeeconomicactivitybecausetheinvisiblehandleadsmarketstodesirableoutcomes・Governmentscansometimesimprovemarketoutcomesbecausesometimesmarketsfailtoallocateresourcesefficientlybecauseofanextern
5、alityormarketpowe匚3.Thethreeprinciplesthatdescribehowtheeconomyasawholeworksare:(1)acountry'sstandardoflivingdependsonitsabilitytoproducegoodsandservices;(2)pricesrisewhenthegovernmentprintstoomuchmoney;and(3)societyfacesashort-runtradeoffbetweeninflationandunemployment.Acountry^standardoflivingde
6、pendsonitsabilitytoproducegoodsandservices,whichinturndependsonitsproductivity,whichisafunctionoftheeducationofworkersandtheaccessworkershavetothenecessarytoolsandtechnology・Pricesrisewhenthegovernmentprintstoomuchmoneybecausemoremoneyincirculationreducesthevalueofmoney,causinginflation.Societyfac
7、esashort-runtradeoffbetweeninflationandunemploymentthatisonlytemporaryandpolicymakershavesomeabilitytoexploitthisrelationshipusingvariouspolicyinstruments・QuestionsforReview1.Examplesoftradeoffsincludetimetradeof
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