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布兰查德《宏观经济学》课后习题答案第4章

发布人：圣才学习网  发布日期：2010-06-21 09:48  共人浏览[大] [中] [小]
　　Chapter 4
　　1.　 a.　True. b.　False. c.　True. d.　True. e.　False. f.　False. g.　True.
　　2.　 a.　i=0.05： Money demand = $18，000； Bond demand = $32，000
　　i=.1：Money demand = $15，000； Bond demand = $35，000
　　b.　Money demand decreases when the interest rate increases； bond demand increases.　This is consistent with the text.
　　c.　The demand for money falls by 50%. d.　The demand for money falls by 50%.
　　e.　A 1% increase （decrease） in income leads to a 1% increase （decrease） in money demand. This effect is independent of the interest rate.
　　3.　 a.　i=100/$PB　–1；　i=33%； 18%； 5% when $PB　=$75； $85； $95.
　　b.　Negative.
　　c.　$PB　=100/（1.08）≈$93
　　4.　 a.　$20=MD=$100*（.25-i）
　　i=5%
　　b.　M=$100*（.25-.15） M=$10
　　5.　 a.　BD = 50，000 - 60，000 （.35-i）
　　An increase in the interest rate of 10% increases bond demand $6，000.
　　b.　An increase in wealth increases bond demand， but has no effect on money demand.
　　c.　An increase in income increases money demand， but decreases bond demand.
　　d.　When people earn more income， this does not change their wealth right away.　Thus， they increase their demand for money and decrease their demand for bonds.
　　6.　 a.　Demand for high-powered money=0.1*$Y*（.8-4i）
　　b.　$100 b = 0.1*$5，000b*（.8-4i）
　　i=15%
　　c.　M=（1/.1）*$100 b=$1，000 b
　　M= Md　at the interest derived in part b.
　　172
　　6.　 d.　If H increases to $300， falls to 5%. e.　M=（1/.1）*$300 b=$3，000 b
　　7.　 a.　$16 is withdrawn on each trip to the bank.
　　Money holdings—day one： $16； day two： $12； day three： $8； day four： $4.
　　b.　Average money holdings are $10.
　　c.　$8 dollar withdrawals； money holdings of $8； $4； $8； $4. d.　Average money holdings are $6.
　　e.　$16 dollar withdrawals； money holdings of $0； $0； $0； $16.
　　f.　Average money holdings are $4.
　　g.　Based on these answers， ATMs and credit cards have reduced money demand.
　　8.　 a.　velocity=1/（M/$Y）=1/L（i）
　　b.　Velocity roughly doubled between the mid 1960s and the mid 1990s.
　　c.　ATMS and credit cards reduced L（i） so velocity increased.
　　
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