布兰查德《宏观经济学》课后习题答案第7章

发布人：圣才学习网发布日期：2010-06-21 09:46 共人浏览[大] [中] [小]

　　CHAPTER 7

　　1.　 a.　True. b.　True. c.　False. d.　False. e.　True. f.　False. g.　False.

　　2.　 a.　IS right， AD right， AS up，　LM up， Y same， i up，　P up

　　b. IS left， AD left， AS down， LM down， Y same， i down， P down

　　3.a.WSPSASADLMISYiP

　　Short run：upsameupsameupsamedownupup

　　Medium run：upsameupsameupsamedownupup

　　Short run：sameupdownsamedownsameupdowndown

　　Medium run：sameupdownsamedownsameupdowndown

　　4.　 a.　After an increase in the level of the money supply， output and the interest-rate eventually

　　return to the same level.　However， monetary policy is useful， because it can accelerate the return to the natural level of output.

　　b.　In the medium run， investment and the interest rate both change with fiscal policy.

　　c.　False.　Labor market policies， such as unemployment insurance， can affect the natural level

　　of output.

　　*5. a.　Open answer.　Firms may be so pessimistic about sales that they do not want to borrow at any interest rate.

　　b.　The IS curve is vertical； the interest rate does not affect equilibrium output.

　　c.　No change.

　　d.　The AD curve is vertical； the price level does not affect equilibrium output.

　　e.　The increase in z reduces the natural level of output and shifts the AS curve up.　Since the

　　AD curve is vertical， output does not change， but prices increase.　Note that output is above its natural level.

　　f.　The AS curve shifts up forever， and prices keep increasing forever.　Output does not change， and remains above its natural level forever.

　　6.　 a.　The natural level of output is Yn.　Assuming that output starts at is natural level， P0= M0- （1/c）*Yn

　　b.　Assuming that Pe=P0： Y = 2cM0-cP=2cM0-cP0-cdY+cdYn

　　Recalling that Yn=c（M0-P0）：　Y= Yn　+ （c/（1+c d））*M0

　　c.　Investment goes up because output is higher and the interest rate is lower.

　　d.　In the medium run， Y = Yn

　　e.　In the medium run， investment returns to its previous level， because output and the interest rate return to their previous levels.

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