国际经济学多米尼克萨尔15ch课后答案.doc

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1、AnswertoProblems1.a.TherateofinflationintheUnitedKingdomfrom1973to2001was:116.1–15.6=100.5=1.460or146.0%(116.1+15.6)/268.85Ontheotherhand,therateofinflationintheUnitedStatesfrom1973to2001was:112.1–34.3=77.8=1.063or106.3%(112.1+34.3)/273.2Thus,theinflationrateintheUnitedKingd

2、omminustheinflationrateintheUnitedStatesfrom1973to2001was:146.0%-1063%=39.7%From1973to2001,theBritishpounddepreciatedwithrespecttotheU.S.dollarfrom£0.4078tothedollarin1973and£0.6944perdollarin2001orby0.6944–0.4078=0.2866=0.520or52.0%(0.6944+0.4078)/20.5511b.TherelativePPPthe

3、orydidholdonlytotheextentthattherateofinflationwashigherintheUnitedKingdomandthepounddepreciatedwithrespecttotheU.S.between1973and2001.ButthepercentdepreciationoftheBritishpoundwithrespecttothedollarwasmuchgreaterthanthatpredictedbytherelativePPP.Notethatintheabovecalculatio

4、ns,percentagechangeswereobtainedbytheaverageofthebeginningandendvalues.Youmaywanttoasktheclasstodothesamewhenassigningthisandthenextproblemsoastogetthesameanswer.2.TherateofinflationinSwitzerlandfrom1973to2001was:103.2–45.0=58.2=0.785or78.5%(103.2+45.0)/274.1Thus,theinflatio

5、nrateinSwitzerlandminustheinflationrateintheUnitedStates(foundinProblem1a)is:78.5%-106.3%=-27.8%From1973to2001,theSwissfrancappreciatedwithrespecttotheU.S.dollarfrom3.1648Swissfrancsperdollarin1973to1.6876Swissfrancsperdollarin2001orby11.6876-3.1648=-1.4772=-0.609or–60.9%(1.

6、6876+3.1648)/22.4262TherelativePPPtheorydidholdonlytotheextentthattherateofinflationwaslowerinSwitzerlandandtheSwissfrancappreciatedwithrespecttotheU.S.between1973and2001.ButthepercentappreciationoftheSwissfrancwithrespecttothedollarwasmuchgreaterthanthatpredictedbytherelati

7、vePPP.3.a.Md=kPY=(1/V)(PY)=(1/5)(200)=$40billion.b.Ifthenation'snominalGDPrisesto$220billion,Md=220/5=$44billion.c.Ifthenation'snominalGNPincreasesby10percenteachyear,Mdincreasesalsoby10percenteachyear.4.a.Monetarybaseofthenationis,D+F=8+2=$10billion.b.Thevalueofthemoneymult

8、iplieris,m=1/LLR=1/0.25=4.c.Thevalueofthenation'stotalmoneysupplyisMs=m(D+F