曼昆宏观经济学课后答案(英文版).doc

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1、23章SOLUTIONSTOTEXTPROBLEMS:QuickQuizzes:1.Grossdomesticproductmeasurestwothingsatonce:(1)thetotalincomeofeveryoneintheeconomy;and(2)thetotalexpenditureontheeconomy’soutputofgoodsandservices.Itcanmeasurebothofthesethingsatoncebecauseincomemustequalexpenditurefortheeconomyasawh

2、ole.2.TheproductionofapoundofcaviarcontributesmoretoGDPthantheproductionofapoundofhamburgerbecausethecontributiontoGDPismeasuredbymarketvalueandthepriceofapoundofcaviarismuchhigherthanthepriceofapoundofhamburger.3.Thefourcomponentsofexpenditureare:(1)consumption;(2)investment

3、;(3)governmentpurchases;and(4)netexports.Thelargestcomponentisconsumption,whichaccountsformorethantwo-thirdsoftotalexpenditure.4.NominalGDPistheproductionofgoodsandservicesvaluedatcurrentprices.RealGDPistheproductionofgoodsandservicesvaluedatconstantprices.RealGDPisabettermea

4、sureofeconomicwell-beingbecauseitreflectstheeconomy’sabilitytosatisfypeople’sneedsanddesires.ThusariseinrealGDPmeanspeoplehaveproducedmoregoodsandservices,butariseinnominalGDPcouldoccureitherbecauseofincreasedproductionorbecauseofhigherprices.5.AlthoughGDPisnotaperfectmeasure

5、ofwell-being,policymakersshouldcareaboutitbecausealargerGDPmeansthatanationcanaffordbetterhealthcare,bettereducationalsystems,andmoreofthematerialnecessitiesoflife.QuestionsforReview:1.Aneconomy'sincomemustequalitsexpenditure,sinceeverytransactionhasabuyerandaseller.Thus,expe

6、nditurebybuyersmustequalincomebysellers.2.TheproductionofaluxurycarcontributesmoretoGDPthantheproductionofaneconomycarbecausetheluxurycarhasahighermarketvalue.3.ThecontributiontoGDPis$3,themarketvalueofthebread,whichisthefinalgoodthatissold.4.Thesaleofusedrecordsdoesnotaffect

7、GDPatallbecauseitinvolvesnocurrentproduction.5.ThefourcomponentsofGDPareconsumption,suchasthepurchaseofamusicCD;investment,suchasthepurchaseofacomputerbyabusiness;governmentpurchases,suchasanorderformilitaryaircraft;andnetexports,suchasthesaleofAmericanwheattoRussia.6.Economi

8、stsuserealGDPratherthannominalGDPtogaugeeconomicwell-beingbecauserea