海南大学：《西方经济学》课程试卷解答（宏观经济学）2008-2009宏观经济学（A）试卷

海南大学2008-09学年度第2学期试卷 科目：《宏观经济学》试题(A卷) 姓名： 学号： 学院： 专业班级： Please answer the Questions(每题10分，共同100分) 1.Explain what happens to consumption,investment,and the interest rate when the government increases taxes 2.According to the neoclassical theory of distribution,the real wage earned by any worker equals that worker's marginal productivity.Let's use this insight to and barbers. past because of technological progress.According to the neoclassical theory,what should have happened to their real wage? b.In what units is the real wage discussed in part (a)measured? esame period,the productivity of barbers has remained constantW should have ha real wage? d.In what units is the real wage in part(c)measured? e.Suppose workers can move freely between being farmers and being barbers. What does this mobility imply for the wages of farmers and barbers? f.What do your previous answers imply for the price of haircuts relative to the price of food g.Who benefits from technological progress in farming-farmers or barbers?

海南大学 2008-09 学年度第 2 学期试卷 科目：《宏观经济学》试题(A 卷) 姓名： 学 号： 学院： 专业班级： Please answer the Questions（每题 10 分，共同 100 分） 1.Explain what happens to consumption, investment, and the interest rate when the government increases taxes. 2.According to the neoclassical theory of distribution,the real wage earned by any worker equals that worker’s marginal productivity. Let’s use this insight to examine the incomes of two groups of workers:farmers and barbers. a.Over the past century,the productivity of farmers has risen substantially because of technological progress.According to the neoclassical theory, what should have happened to their real wage? b. In what units is the real wage discussed in part (a) measured? c.Over the same period,the productivity of barbers has remained constant.What should have happened to their real wage? d. In what units is the real wage in part(c)measured? e.Suppose workers can move freely between being farmers and being barbers. What does this mobility imply for the wages of farmers and barbers? f.What do your previous answers imply for the price of haircuts relative to the price of food? g.Who benefits from technological progress in farming—farmers or barbers?

3.List all the costs of inflation you can think of,and rank them according to how important you think they are. 4.Suppose that consumption depends on the level of real money balances(on the al mony balance are part of wa Show thata end on the nominal interest rate,ther an inc in the rate of money growth affects consumption,investment,and the real interest rate.Does the nominal interest rate adjust more than one-for-one or less than one-for-one to expected inflation?This deviation from the classical dichotomy and the Fisher effect is called the"Mundell-Tobin effect."How might you decide whether the Mundell-Tobin effect is important in practice? 5.Give three explanations why the real wage may remain above the level that equilibrates labor supply and labor demand

3.List all the costs of inflation you can think of, and rank them according to how important you think they are. 4. Suppose that consumption depends on the level of real money balances (on the grounds that real money balances are part of wealth). Show that if real money balances depend on the nominal interest rate,then an increase in the rate of money growth affects consumption, investment, and the real interest rate. Does the nominal interest rate adjust more than one-for-one or less than one-for-one to expected inflation? This deviation from the classical dichotomy and the Fisher effect is called the“Mundell–Tobin effect.”How might you decide whether the Mundell–Tobin effect is important in practice? 5.Give three explanations why the real wage may remain above the level that equilibrates labor supply and labor demand

6.Explain why changes in consur aption are unpredictable if consumers obey the permanent-income hypothesis and have rational expectations 7.One study found that the elderly who do not have children dissave at about the same rate as the elderly who do have children.What might this finding imply about the reason the elderly do not dissave as much as the life-cycle mod predicts? 8.In the neoclassical model of business fixed investment,under what conditions will firms find it profitable to add to their capital stock 9.List four reasons firms might hold inventories

6.Explain why changes in consumption are unpredictable if consumers obey the permanent-income hypothesis and have rational expectations. 7.One study found that the elderly who do not have children dissave at about the same rate as the elderly who do have children.What might this finding imply about the reason the elderly do not dissave as much as the life-cycle model predicts? 8.In the neoclassical model of business fixed investment, under what conditions will firms find it profitable to add to their capital stock 9. List four reasons firms might hold inventories

10 What are the three ways in which the federal Reserve can influence the money supply

10 What are the three ways in which the federal Reserve can influence the money supply