武汉大学试卷习题西方经济学试题（A卷）及参考答案（2002.7.6）.pdf_大学文库

武汉大学商学院《西方经济学》试题(A卷)2002年7月6日主讲：陈忠城审核：姓名：学号：分数： 1.What is the difference between the aggregate supply and aggregate demand model used in macroeconomics and microeconomics?(Score:15) 2.Suppose an economy's real GDP is $30,000 in year I and $31,200 in year 2.What is the growth rate of its real GDP?Assume that population was 100 in year I and 102 in year 2.What is the growth rate of GDP per capita?(Score:15) 3.Assume the consumption schedule for a private open economy is such that C=50+0.8 Assume further that planed investment and net exports are independent of the level of income and constant at 30 and10.Recall also that in equilibrium the real output produced is equall to the aggregate expendituresC (a)Calculate the equilibrium level of income for this economy. (b)What will happen to equilibrium Yif/changes to 10?What does this tell you about the size of the multiplier?(Score:15) 4.Why is each of the following incorrect?State the correct proposition.(Soore:15) a)Marginal revenue product is cakulated as total revenue camed per worker. b)Under competition,workers get paid the total output produced minus the costs of raw materials. 5.Draw the supply and demand curves for the oil market..Now suppose thata workable electric car shifts demand arway from oil.Draw the new demand curve and the new equillibrium.Describe the outcome in terms of the price of oil,the quantity consumed,and the total income of the oil producers. Using the supply and demand analysis of interest.explain how each of the following would affect interest rates in capital theory: (Score:15) a An innovation that increased the marginal product of capital at each level of capital. h.A decrease in the desired wealth holdings of houscholds c.A 50 percent tax on the return on capital (in the short run) 7.What is comparative advantage?Suppose thatTom produce half kilogram beef and two kilogram potatoes per hour.Jerry produces 1.5 kilogram beef and 3 kilogram potatoes per hour.Who should produce beef?Who should produce potato?(Score:10)

武汉大学商学院《西方经济学》试题武汉大学商学院《西方经济学》试题武汉大学商学院《西方经济学》试题武汉大学商学院《西方经济学》试题 (A (A 卷卷 ) ) 2002 年 7 月 6 日主讲：陈忠斌审核：姓名: 学号: 分数: 1 、 What is the difference between the aggregate supply and aggregate demand model used in macroeconomics and microeconomics？（Score:15） 2、Suppose an economy’s real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP? Assume that population was 100 in year 1 and 102 in year 2. What is the growth rate of GDP per capita?（Score:15） 3、Assume the consumption schedule for a private open economy is such that C = 50 + 0.8Y. Assume further that planned investment and net exports are independent of the level of income and constant at Ig= 30 and Xn = 10. Recall also that in equilibrium the real output produced (Y) is equal to the aggregate expenditures: Y = C + Ig + Xn. (a) Calculate the equilibrium level of income for this economy. (b)What will happen to equilibrium Y if Ig changes to 10? What does this tell you about the size of the multiplier? （Score:15） 4、Why is each of the following incorrect? State the correct proposition. （Score:15） a) Marginal revenue product is calculated as total revenue earned per worker. b) Under competition, workers get paid the total output produced minus the costs of raw materials. 5、Draw the supply and demand curves for the oil market.. Now suppose that a workable electric car shifts demand away from oil. Draw the new demand curve and the new equilibrium. Describe the outcome in terms of the price of oil, the quantity consumed, and the total income of the oil producers. 6.. . Using the supply and demand analysis of interest, explain how each of the following would affect interest rates in capital theory: （Score:15） a. An innovation that increased the marginal product of capital at each level of capital. b. A decrease in the desired wealth holdings of households. c. A 50 percent tax on the return on capital (in the short run) 7 、 What is comparative advantage? Suppose thatTom produce half kilogram beef and two kilogram potatoes per hour. Jerry produces 1.5 kilogram beef and 3 kilogram potatoes per hour. Who should produce beef? Who should produce potato? （Score:10）

武汉大学商学院西方经济学试题答案(A卷)2002年7月6日 1.宏观经济学的总供价和总需求模型看起来、所起来都与微观经济学的标准供求模型极为相似，它们是香有联系？What is the difference between the aggregate suppl内y and aggregate d女mand model used in macrocconomics and microeconomics?(15) 1.The aggregate supply and aggregate demand model used in macroeconomics is not very similar to the market demand and market supply model usedn microeconomics While the workings of both models (the distinction between shifts of the curves versus movement along the curves)are similar.these models are really unrelated.The "P"in the microeconomic model stands for the relative price of a good (or the ratio at which two goods are traded),whereas the"P"in the macroeconomic model stands for the average price level of all goods and services produced in this country,measured m money terms. 2、假设某一经济体的实际GDP第一年为3万美元，第二年为3I2万美元，求实际GDP的增长率？再假设第一年的人口为I00,第二年的人口为102.求人均GDP的增长率？(Supp06can economy's real GDP is $30,000 in year I and $31,200 in year 2.What is the growth rate of its real GDP?Assume that population was 100 in year I and 102 in year 2.What is the growth rate of GDP per capita?)(15分) Growth rate of real GDP -4 percent (-$31,200.$30,000X$30,000).GDP per capita in year I $300 ($30,000/100).GDP per capita in year 2=$305.88 ($31.200/102).Growth rate of GDP per capita is 1.96 percent=($305.88-$300)300). 3.Assume the consumption schedule for a private open economy is such that C-50+0.8 Assume further that planned investment and net exports are independent of the level of income and constant at30 and=10.Recall also that in equilibrium the real output produced is equal to the aggregate expenditures:Y=C+ a Calculate the equilibrium level of income for this economy.Check your work by expressing the consumption,investment,and net export schedules in tabular form and determining the equilibrium GDP. b What will happen to equilibrium Yif changes to 10 What does this tell you about the size of the multiplier? 答3：Answers: 、(ad0.P=C+1e+r.=s50+0.8P+s30+s10=0.8r+390 0.2r=s90.→r=s450 the equilibrium level of income for this economy is $450 (b)If /pdecreases from $30 to $10,the new equilibrium GDP will be at GDP of $350,for with /now $10 this is where AE also equals $350.This indicates that the multiplier

武汉大学商学院西方经济学试题答案武汉大学商学院西方经济学试题答案武汉大学商学院西方经济学试题答案武汉大学商学院西方经济学试题答案 (A (A 卷卷 ) ) 2002 年 7 月 6 日 1. 宏观经济学的总供给和总需求模型看起来、听起来都与微观经济学的标准供求模型极为相似，它们是否有联系？What is the difference between the aggregate supply and aggregate demand model used in macroeconomics and microeconomics？（15 分）答：1. The aggregate supply and aggregate demand model used in macroeconomics is not very similar to the market demand and market supply model used in microeconomics. While the workings of both models (the distinction between shifts of the curves versus movement along the curves) are similar, these models are really unrelated. The "P" in the microeconomic model stands for the relative price of a good (or the ratio at which two goods are traded), whereas the "P" in the macroeconomic model stands for the average price level of all goods and services produced in this country, measured in money terms. 2、假设某一经济体的实际 GDP 第一年为 3 万美元，第二年为 3.12 万美元。求实际 GDP 的增长率？再假设第一年的人口为 100，第二年的人口为 102。求人均 GDP 的增长率？（Suppose an economy’s real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP? Assume that population was 100 in year 1 and 102 in year 2. What is the growth rate of GDP per capita?）（15 分）答：Growth rate of real GDP = 4 percent (= $31,200 - $30,000)/$30,000). GDP per capita in year 1 = $300 (= $30,000/100). GDP per capita in year 2 = $305.88 (= $31,200/102). Growth rate of GDP per capita is 1.96 percent = ($305.88 - $300)/300). 3、Assume the consumption schedule for a private open economy is such that C = 50 + 0.8Y. Assume further that planned investment and net exports are independent of the level of income and constant at Ig= 30 and Xn = 10. Recall also that in equilibrium the real output produced (Y) is equal to the aggregate expenditures: Y = C + Ig + Xn. a Calculate the equilibrium level of income for this economy. Check your work by expressing the consumption, investment, and net export schedules in tabular form and determining the equilibrium GDP. b What will happen to equilibrium Y if Ig changes to 10? What does this tell you about the size of the multiplier? 答 3：Answers: (a) 0.2 $90, $450. ( ).. $50 0.8 $30 $10 0.8 $90,             Y Y a Y C I g X n Y Y the equilibrium level of income for this economy is $450. (b) If Ig decreases from $30 to $10, the new equilibrium GDP will be at GDP of $350, for with Ig now $10 this is where AE also equals $350. This indicates that the multiplier

equals 5.for a decline in AE of $20 has led to a decline in equilibrium GDP of $100. The size of the multiplier could also have been calculated directly from the MPC of0.8 4.Chapter12-question4.Why is each of the following incorrect?State the correct proposition. (Samuelson.18 edition-chapter12.p242.) e)Marginall revenue product is ealculated as total revenue eamed per worker.(MRP is the additional revenue produced by an additional unit of input.) d Distribution theory is simple.You simply figure out how much each factor produces and then give the factor its share of output.(Input contributions to production are imerdependent.so it is impossible to determine what factor produced how much.) Under competition,workers get paid the total output produced minus the costs of raw materials.(If all fuctors are paid according to their marginal products,then the toeal share paid to labor could be total product less the cost of raw materials) S.(Samuelson.17 edition.p242 Chapter12-question?.Draw the supply and demand curves for the oil market..Now suppose that a workable electric car shifts demand away from oil Draw the new demand curve and the new equilihrium Describe the outcome in terms of the price of oil,the quntity consumed, and the tocal income of the oil producers. Answers 5 (Samuelson,17 edition,p242)Chapter12-question7.The price of oil will fall,as the quantity of oil produced and consumed will fall.The total income of odl producers will fall.Because there is a derived demand for gasoline,when the demand for gasoline-powered engines falls,the demand for gasoline will fall Priee of gasoline Gasoline 6 [Samuslson 17 sdition,p7x5 Chapter14-question5,Using the supply and demand analysis of interest.explain how each of the following would artect inerest rates in capital theory. a An innovation that increased the marginal product of capatal at each level of capital b.A decrense in the desired wealth holdings of houscholds c.A 50 percent tax on the return on capital (in the short run and the long run) Answer6-(Samuclson.17 sdtion.p285 Chapter14-questien5 a The interest rate would rise because the derived demand curve would shift up,causing a move along the

equals 5, for a decline in AE of $20 has led to a decline in equilibrium GDP of $100. The size of the multiplier could also have been calculated directly from the MPC of 0.8 . 4 4 、Chapter12-question4. Chapter12-question4. Chapter12-question4. Chapter12-question4. Why Why is is each each of of the the following following following following incorrect? incorrect? incorrect? incorrect? State State the the correct correct correct correct proposition. proposition. proposition. proposition. (Samuelson, 18th edition-chapter12, p242.) c) Marginal revenue product is calculated as total revenue earned per worker.(MRP is the additional revenue produced by an additional unit of input.) d) Distribution theory is simple. You simply figure out how much each factor produces and then give the factor its share of output. (Input contributions to production are interdependent, so it is impossible to determine what factor produced how much.) e) Under competition, workers get paid the total output produced minus the costs of raw materials. (If all factors are paid according to their marginal products, then the total share paid to labor could be total product less the cost of raw materials.) 5、(Samuelson, 17th edition, p242.) Chapter12-question7. Chapter12-question7. Chapter12-question7. Chapter12-question7. Draw the supply and demand curves for the oil market.. Now suppose that a workable electric car shifts demand away from oil. Draw the new demand curve and the new equilibrium. Describe the outcome in terms of the price of oil, the quantity consumed, and the total income of the oil producers. Answers Answers Answers Answers 5 5 (Samuelson, (Samuelson, (Samuelson, (Samuelson, 17 17 th th edition, edition, edition, edition, p242.) p242.) Chapter12-question7. Chapter12-question7. Chapter12-question7. Chapter12-question7. The price of oil will fall, as the quantity of oil produced and consumed will fall. The total income of oil producers will fall. Because there is a derived demand for gasoline, when the demand for gasoline-powered engines falls, the demand for gasoline will fall. E E' P P' q' q q' Gasoline Gasoline Gasoline Gasoline Price Price of of gasoline gasoline gasoline gasoline 6..(Samuelson, 17th edition, p285.) Chapter14-question5. Chapter14-question5. Chapter14-question5. Chapter14-question5. Using the supply and demand analysis of interest, explain how each of the following would affect interest rates in capital theory: a. An innovation that increased the marginal product of capital at each level of capital. b. A decrease in the desired wealth holdings of households. c. A 50 percent tax on the return on capital (in the short run and the long run) Answers6.. Answers6.. Answers6.. Answers6.. (Samuelson, 17th edition, p285.) Chapter14-question5. Chapter14-question5. Chapter14-question5. Chapter14-question5. a. The interest rate would rise because the derived demand curve would shift up, causing a move along the

武汉大学商学院《经济学原理》试题(A卷)2002年7月6日主讲：陈出城审核：姓名：学号：分数：」 1,一个厂商的经济利润和会计利润有什么不月？(What is a fim's economic profit and accounting profit?Are both the same?Explain.》(I0分) 2、宏观经济学中的价格和微观经济学中的价格有什么不洞？(15分) 3、列出并解释总需求曲线向右下方横斜的三个原因。(15分) 4,汤母和吉米两人开车到加油站，在看油价前，汤母说“我要0加仑汽油，吉米说“我要10美元的汽油”。请计算两人各自的需求价格弹性？(15分》 5、假设某一经济体的实际GDP第一年为3万美元，第二年为3.12万美元.求实际GDP的增长率？再假设第一年的人口为100，第二年的人口为I02,求人均GDP的增长率？(Spp0ean economy's real GDP is $30.000 in year I and $31,200 in year 2.What is the growth rate of its real GDP?Assume that population was 100 in year I and 102 in year 2.What is the growth rate of GDPp对r capita2)(15分) 6.Assume the corsumption schedule for a private open economy is such that C=50+0.8/Assume further that planned investment and net exports are independent of the level of income and constant at30 and10.Recall allso that in equilibrium the real outpurt produced (is equal to the aggregate expenditures:C++(a)Calculate the equilibrium level of income for this cconomy.(b)What will happen to equilibrium Yif /changes to 10?What does this tell you about the size of the multiplier? (15分) 请从下列两题中任意选择一个图形分析题 7、农业卡收了对农民来说是好消息还是坏消息？一场耀毁了一半农作物的干早对农民是一件好事马？如果这场干旱对农民是好事，为什么农民不会在不干早时推毁自己的农作物？(Can good news for farming be bad news for farmers?How might a drought that destroys halfofall farm crops be good for farmers?If such a drought is good for farmers.why don't farmers destroy their own crops in the absence of a drought?)(15分) 8.Larry.Curly.and Moe run the only saloon in town.Larry wants to sell as many drinks as possible without losing money.Curly wants the saloon to bring in as much revenue as possible Moe wants to make the largest possible profits Using a single diagram of the saloon's demand curve and its cost cuves show the price and quantity combinations favored by each of the three partners.Explain.(15)

武汉大学商学院《经济学原理》试题武汉大学商学院《经济学原理》试题武汉大学商学院《经济学原理》试题武汉大学商学院《经济学原理》试题 (A (A 卷卷 ) ) 2002 年 7 月 6 日主讲：陈忠斌审核：姓名: 学号: 分数: 1、一个厂商的经济利润和会计利润有什么不同？（What is a firm’s economic profit and accounting profit? Are both the same? Explain.）（10 分） 2、宏观经济学中的价格和微观经济学中的价格有什么不同？（15 分） 3、列出并解释总需求曲线向右下方倾斜的三个原因。（15 分） 4、汤母和吉米两人开车到加油站，在看油价前，汤母说“我要 10 加仑汽油”，吉米说“我要 10 美元的汽油”。请计算两人各自的需求价格弹性？（15 分） 5、假设某一经济体的实际 GDP 第一年为 3 万美元，第二年为 3.12 万美元。求实际 GDP 的增长率？再假设第一年的人口为 100，第二年的人口为 102。求人均 GDP 的增长率？（Suppose an economy’s real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP? Assume that population was 100 in year 1 and 102 in year 2. What is the growth rate of GDP per capita?）（15 分） 6、Assume the consumption schedule for a private open economy is such that C = 50 + 0.8Y. Assume further that planned investment and net exports are independent of the level of income and constant at Ig= 30 and Xn = 10. Recall also that in equilibrium the real output produced (Y) is equal to the aggregate expenditures: Y = C + Ig + Xn. (a) Calculate the equilibrium level of income for this economy. (b)What will happen to equilibrium Y if Ig changes to 10? What does this tell you about the size of the multiplier? （15 分）请从下列两题中任意选择一个图形分析题 7、农业丰收了对农民来说是好消息还是坏消息？一场摧毁了一半农作物的干旱对农民是一件好事吗？如果这场干旱对农民是好事，为什么农民不会在不干旱时摧毁自己的农作物？（Can good news for farming be bad news for farmers? How might a drought that destroys half of all farm crops be good for farmers? If such a drought is good for farmers, why don’t farmers destroy their own crops in the absence of a drought?）（15 分） 8、Larry, Curly, and Moe run the only saloon in town. Larry wants to sell as many drinks as possible without losing money. Curly wants the saloon to bring in as much revenue as possible. Moe wants to make the largest possible profits. Using a single diagram of the saloon’s demand curve and its cost curves, show the price and quantity combinations favored by each of the three partners. Explain. （15 分）

武汉大学商学院《经济学原理》试题(A卷)2002年7月6日主讲：陈出城学生学号：学生姓名：分数： l、一个厂商的经济利润和会计利荆有什么不月？(What is a fim's economic profit and accounting profit?Are both the same?Explain)(10) 答：a firm's economic profit-total revenue-explicit cost电-implicit costs a firm's accounting profit-total revenue-explicit costs. 2、素宏观经济学中的价格和微观经济学中的价格有什么不羽？(15分) 答：宏观经济学中的价格是某个经济体中整个商品和服务的物价总水平；微观经济学中的价格是指某一具体商品域服务市场的价格，如小麦的价格，猪肉的价格。理发的价格等。 3.列出并解释总需求曲线白右下方倾斜的三个原因。(15分) 答：(I)The Price Level and Consumption:The Wealth Effect谢高效应(Arthur Pigou,I877-l959列 A decrease in the price level makes comsumers feel more wealthy.which n turn encourages them to spend more.This increase in consumer spending means larger quantities of goods and services demanded.(2) The Price Level and Investment:The Imerest Rate Effect (John Maynard Keynes,1883-1946)-A lower price level reduces the interest rate.which encourages greater spending on investment goods.This increase in investment spending means a langer quantity of goods and services demanded (3)The Price Level and Net Exports:The Exchange-Rate Effect汇率效应(Robert Mundell and Marcus Flming)-hem a fall in the U.S.price level causes U.S.interest rates to fall,the real exchange rate depreciates,which stimulates U.S.net exports.The increase in net export spending means a larger quantity of goods and services demanded 4、汤母和吉米两人开车到如油站，在看油价前，汤每说“我要10加仑汽油”，吉米说“我要10美元的汽油'。请计算两人各自的需求价格弹性？(Two-Tom and Jerry-each drive up to a gas station Before looking at the price.each places an order.Tom says."I'd like 10 gallons of gas."Jerry says."I'd like $10 of gas."What is each driver's price elasticity of demand?)(15) (a)Tom's price elasticity of demand is 0 (or zero).He'd like 10 gallons of gas no matter the change in price of gas,that is change in quantity is zero. For Tom's price elasticity of demand is 色gl g4-0 (Apl p) ,where Ag=0.So Es■ (Apl p) Se Tom's price elasticity of demand is 0. b的方法I(Using mid-oint approach,or are-elasticity小 Jerry's price elasticity of demand is I. 10 10 Jerry would like $10 of gas means that there exists always p10,ar is 少二 101B)-10/Aù %+6)/2 g+%)/2 10/A》+10/A E 凸■A 凸■A (A+P/2 A+A/2 +P A+

武汉大学商学院《经济学原理》试题武汉大学商学院《经济学原理》试题武汉大学商学院《经济学原理》试题武汉大学商学院《经济学原理》试题 (A (A 卷卷 ) ) 2002 年 7 月 6 日主讲：陈忠斌学生学号：学生姓名：分数： 1、一个厂商的经济利润和会计利润有什么不同？（What is a firm’s economic profit and accounting profit? Are both the same? Explain.）（10 分）答：a a firm firm ’ ’ s s economic economic economic economic profit= profit= profit= profit= total total revenue revenue revenue revenue - - explicit explicit explicit explicit costs costs - - implicit implicit implicit implicit costs costs a a firm firm ’ ’ s s accounting accounting accounting accounting profit=total profit=total profit=total profit=total revenue revenue revenue revenue - - explicit explicit explicit explicit costs. costs. 2、宏观经济学中的价格和微观经济学中的价格有什么不同？（15 分）答：宏观经济学中的价格是某个经济体中整个商品和服务的物价总水平；微观经济学中的价格是指某一具体商品或服务市场的价格，如小麦的价格，猪肉的价格，理发的价格等。 3、列出并解释总需求曲线向右下方倾斜的三个原因。（15 分）答：（ 1）The Price Level and Consumption: The Wealth Effect 财富效应 (Arthur Pigou, 1877-1959) A decrease in the price level makes consumers feel more wealthy, which in turn encourages them to spend more. This increase in consumer spending means larger quantities of goods and services demanded. （2） The Price Level and Investment: The Interest Rate Effect (John Maynard Keynes, 1883-1946)–A lower price level reduces the interest rate, which encourages greater spending on investment goods.This increase in investment spending means a larger quantity of goods and services demanded. （3）The Price Level and Net Exports: The Exchange-Rate Effect 汇率效应 (Robert Mundell and Marcus Fleming)–When a fall in the U.S. price level causes U.S. interest rates to fall, the real exchange rate depreciates, which stimulates U.S. net exports.The increase in net export spending means a larger quantity of goods and services demanded. 4、汤母和吉米两人开车到加油站，在看油价前，汤母说“我要 10 加仑汽油”，吉米说“我要 10 美元的汽油”。请计算两人各自的需求价格弹性？（Two--Tom and Jerry—each drive up to a gas station. Before looking at the price, each places an order. Tom says, “I’d like 10 gallons of gas.” Jerry says, “I’d like $10 of gas.” What is each driver’s price elasticity of demand?）（15 分）答：(a) (a) T T om’s price elasticity of demand is 0 (or zero). He’d like 10 gallons of gas no matter the change in price of gas, that is change in quantity is zero. For Tom’s price elasticity of demand is , where So    p p q q Ed Tom / /     q  0.     0. / /      p p q q Ed Tom So So Tom Tom ’ ’ s s price price elasticity elasticity elasticity elasticity of of demand demand is is 0 0 . . (b) (b) 方法 1 1 (Using (Using mid-point mid-point mid-point mid-point approach approach approach approach , , or or arc-elasticity arc-elasticity arc-elasticity arc-elasticity ) ) ： Jerry’s price elasticity of demand is 1. Jerry would like $10 of gas means that there exists always . 10 10 10, 2 2 1 1 p q p pq  that is q  ，  1. (10 / ) (10 / ) (10 / ) (10 / ) ( ) / 2 ( ) / 2 ( ) / 2 ( ) / 2 1 2 2 1 1 2 1 2 1 2 2 1 1 2 2 1 1 2 2 1 1 2 2 1 1 2 1 2                                                                                        p p p p p p p p p p p p p p p p p p p p q q q q p p p q q q Ed Jerry

So Jerry's price elasticity of demand is 1. 时方法2 Using point elasticity approach,运用点弹性方法： Jerry would like $10 of gas means that there exists always 10. thot is g= 10 应。10 =-1 So Jerry's price elasticity of demand is 1. 5、假设某一经济体的实际GDP第一年为3万美元，第二年为3.12万美元.求实际GDP的增长率？再假设第一年的人口为I00,第二年的人口为I02,求人均GDP的增长率？(Spp0sean economy's real GDP is $30,000 in year I and $31,200 in year 2.What is the growth rate of its real GDP?Assume that population was 100 in year 1 and 102 in year 2.What is the growth rate of GDPp灯rcpt?)(15分) Growth rate of real GDP =4 percent ($31,200-$30.000X$30,000).GDP per capita in year 1 $300 (-$30,000/100).GDP per capita in year 2-$305.88 (=$31,200/102).Growth rate of GDP per capita is 1.96 percent =(5305.88 -$300)300). 6 Assume the consumption schedule for a private open economy is such that C=50 +0.8 Assume further that planned investment and net exports are independent of the level of income and constant at30 and10.Recall also that in equlibrium the real output produced (is equal to the aggregate expenditures:y+ a Calculate the equilibrium level of income for this economy.Check your work by expressing the comsumption,investment,and net export schedules in tabular form and determining the equilibrium GDP. b What will happen to equilibrium if/changes to 10?What does this tell you about the size of the multiplier? (@).'=C+/,+r。=50+0.8r+330+s10=0.8r+590. (a) 02y=390,台Y=s450 the cquilibrium level of income for this economy is $450. (b)If decreases from $30 to $10.the new equilibrium GDP will be at GDP of $350.for with now $10 this is where AE also equals $350.This indicates that the multiplier equals 5,for a decline in AE of $20 has led to a decline in equilibrium GDP of $100. The size of the multiplier could also have been calculated directly from the MPC of 0.8 7.Can good news for farming be bad news for farmers?How might a drought that destroys half'of'all farm crops be good for farmers?If such a drought is good for farmers,why don't farmers destroy their own crops in the absence of a drou吧P∥农业丰收了对农民来说是好消息还是坏消息？一场排毁了一率农作物的干早对农民是一件好事吗？如果这场干厚对农民是好事，为什么农民不会在不干旱时菲爱自己的农作物？(15分)

S S o o Jerry Jerry ’ ’ s s price price elasticity elasticity elasticity elasticity of of demand demand is is 1. 1. (b) (b) 方法 2 2 (Using (Using point point elasticity elasticity elasticity elasticity approach, approach, approach, approach, 运用点弹性方法) ) ： Jerry would like $10 of gas means that there exists always pq 10. . 10 10 2 dp p dq we get p that is q  ，       1. (10 / ) 10 / / 2                              p p q p p p q p p q q Ed Jerry S S o o Jerry Jerry ’ ’ s s price price elasticity elasticity elasticity elasticity of of demand demand is is 1. 1. 5、假设某一经济体的实际 GDP 第一年为 3 万美元，第二年为 3.12 万美元。求实际 GDP 的增长率？再假设第一年的人口为 100，第二年的人口为 102。求人均 GDP 的增长率？（Suppose an economy’s real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP? Assume that population was 100 in year 1 and 102 in year 2. What is the growth rate of GDP per capita?）（15 分）答：Growth rate of real GDP = 4 percent (= $31,200 - $30,000)/$30,000). GDP per capita in year 1 = $300 (= $30,000/100). GDP per capita in year 2 = $305.88 (= $31,200/102). Growth rate of GDP per capita is 1.96 percent = ($305.88 - $300)/300). 6 Assume the consumption schedule for a private open economy is such that C = 50 + 0.8Y. Assume further that planned investment and net exports are independent of the level of income and constant at Ig= 30 and Xn = 10. Recall also that in equilibrium the real output produced (Y) is equal to the aggregate expenditures: Y = C + Ig + Xn. a Calculate the equilibrium level of income for this economy. Check your work by expressing the consumption, investment, and net export schedules in tabular form and determining the equilibrium GDP. b What will happen to equilibrium Y if Ig changes to 10? What does this tell you about the size of the multiplier? (a) 0.2 $90, $450. ( ).. $50 0.8 $30 $10 0.8 $90,             Y Y a Y C I g X n Y Y the equilibrium level of income for this economy is $450. (b) If Ig decreases from $30 to $10, the new equilibrium GDP will be at GDP of $350, for with Ig now $10 this is where AE also equals $350. This indicates that the multiplier equals 5, for a decline in AE of $20 has led to a decline in equilibrium GDP of $100. The size of the multiplier could also have been calculated directly from the MPC of 0.8 . 7、Can good news for farming be bad news for farmers? How might a drought that destroys half of all farm crops be good for farmers? If such a drought is good for farmers, why don’t farmers destroy their own crops in the absence of a drought? // 农业丰收了对农民来说是好消息还是坏消息？一场摧毁了一半农作物的干旱对农民是一件好事吗？如果这场干旱对农民是好事，为什么农民不会在不干旱时摧毁自己的农作物？（15 分）

武汉大学 试卷习题 西方经济学试题（A卷）及参考答案（2002.7.6）

武汉大学试卷习题西方经济学试题（A卷）及参考答案（2002.7.6）