曼昆宏观经济学第三十二章答案

《曼昆宏观经济学第三十二章答案》由会员上传分享，免费在线阅读，更多相关内容在工程资料-天天文库。

1、SOLUTIONSTOTEXTPROBLEMS:QuickQuizzes1.Thesupplyofloanablefundscomesfromnationalsaving・Thedemandforloanablefundscomesfromdomesticinvestmentandnetcapitaloutflow・Supplyinthemarketforforeigrncurrencyexchangecomesfromnetcapitaloutflow.Demandinthemarketforforeign-currencyexchangecomesfromnet

2、exports.2.Thetwomarketsinthemodeloftheopeneconomyarethemarketforloanablefundsandthemarketforforeign-currencyexchange.Thesemarketsdeterminetworelativeprices:(1)themarketforloanablefundsdeterminestherealinterestrate;and(2)themarketforforeign-currencyexchangedeterminestherealexchangerate.

3、3.IfAmericansdecidedtospendasmallerfractionoftheirincomes,theincreaseinsavingwouldshiftthesupplycurveforloanablefundstotheright,asshowninFgure1.Thedeclineintherealinterestrateincreasesnetcapitaloutflowandshiftsthesupplyofdollarstotherightinthemarketforforeign-currencyexchange.Theresult

4、isadeclineintherealexchangerate.Sncetherealinterestrateislower,domesticinvestmentincreases.Sincenetcapitaloutflowincreases,thetradebalaneealsoincreases・Overall,savinganddomesticinvestmentincrease,therealinterestrateandrealexchangeratedecrease,andthetradebalaneeincreases・aSiNetCapitalOu

5、tflowS2Demand15a:750)nrFigure1QuestionsforReview1.Thesupplyofloanablefundscomesfromnationalsaving;thedemandforloanablefundscomesfromdomesticinvestmentandnetcapitaloutflow・Thesupplyofdollarsinthemarketforforeignexchangecomesfromnetcapitaloutflow;thedemandfordollarsinthemarketforforeigne

6、xchangecomesfromnetexports・Thelinkbetweenthetwomarketsisnetcapitaloutflow.2Governmentbudgetdeficitsandtradedeficitsaresometimescalledthetwindeficitsbecauseagovernmentbudgetdeficitoftenleadstoatradedeficit・Thegovernmentbudgetdeficitleadstoreducednationalsaving,causingtheinterestratetoin

7、crease,thusreducingnetcapitaloutflow,whichinturnreducesnetexports・3.IfaunionoftextileworkersencouragespeopletobuyonlyAmerican・madeclothes,importswouldbereduced,sonetexportswouldincreaseforanygivenrealexchangerate.Thiswouldcausethedemandcurveinthemarketforforeignexchangetoshifttotheri