《宏觀經(jīng)濟學原理》ch04

DemandandSupplyCHAPTER4CHECKPOINTSProblem1Problem2Problem3Problem1Problem2Problem1Problem2ClickerversionClickerversionClickerversionProblem3Problem3Problem4ClickerversionClickerversionClickerversionCheckpoint4.1Checkpoint4.2Checkpoint4.3Problem1Problem2Problem3Checkpoint4.4ClickerversionProblem1PracticeProblem1Explaintheeffectsonthedemandforcellphonesofthefollowingeventsthatoccuroneatatime:Thepriceofacellphonefalls.Thepriceofacellphoneisexpectedtofallnextmonth.Thepriceofacallfromacellphonefalls.Thepriceofacallfromaland-linephoneincreasesTheintroductionofcameraphonesmakescellphonesmorepopular.CHECKPOINT4.1SolutionAfallinthepriceofacellphoneincreasesthequantityofcellphonesdemandedbuthasnoeffectonthedemandforcellphones.Anexpectedfallinthepriceofacellphonenextmonthdecreasesthedemandforcellphonestodayaspeoplewaitforthelowerprice.Afallinthepriceofacallfromacellphoneincreasesthedemandforcellphonesbecauseacellphonecallandacellphonearecomplements.

CHECKPOINT4.1Ariseinthepriceofacallfromaland-linephoneincreasesthedemandforcellphonesbecausealand-linephoneandacellphonearesubstitutes.AnincreaseinthepopularityofacellphoneincreasesthedemandforcellphonesCHECKPOINT4.1StudyPlanProblem1Inthemarketforcellphones,whenthepriceofacellphonefalls,thequantityofcellphonesdemanded________andthedemandforcellphone______.A.isunchanged;increases.B.decreases;isunchangedC.decrease;decreasesD.increases;isunchangedE.increases;increasesCHECKPOINT4.1Inthemarketforcellphones,whenthepriceofacellphoneisexpectedtofallnextyear,________.A.thedemandforcellphonestodaydecreasesB.thequantityofcellphonesdemandedtodayincreasesC.thedemandforcellphonestodayincreasesD.thequantityofcellphonesdemandedtodaydecreasesE.thequantityofcellphonesdemandedtodayincreases andthedemandforcellphonestodayincreasesCHECKPOINT4.1PracticeProblem2Useagraphtoillustratetheeffectofeachofthefollowingevents:ThepriceofacellphonefallsThepriceofacellphoneisexpectedtofallnextmonth.Thepriceofacallfromacellphonefalls.Thepriceofacallfromaland-linephoneincreasesTheintroductionofcameraphonesmakescellphonesmorepopularCHECKPOINT4.1SolutionThefallinthepriceofacellphonecreatesamovementalongthedemandcurveD.CHECKPOINT4.1AnincreaseinthedemandforcellphonesisshownbytheshiftofthedemandcurverightwardfromD0toD1.AdecreaseinthedemandforcellphonesisshownbytheshiftofthedemandcurveleftwardfromD0toD2.CHECKPOINT4.1PracticeProblem3Dothefollowingeventsillustratethelawofdemand?ThepriceofacellphonefallsThepriceofacellphoneisexpectedtofallnextmonth.Thepriceofacallfromacellphonefalls.Thepriceofacallfromaland-linephoneincreasesTheintroductionofcameraphonesmakescellphonesmorepopularCHECKPOINT4.1SolutionAfallinthepriceofacellphone(otherthingsremainingthesame),illustratesthelawofdemand.Thefigureillustratesthelawofdemand.Theothereventschangedemandanddonotillustratethelawofdemand.CHECKPOINT4.1StudyPlanProblemWhicheventsillustratethelawofdemand?ThepriceofacellphonefallsThepriceofacellphoneisexpectedtofallnextmonth.Thepriceofacallfromacellphonefalls.Thepriceofacallfromaland-linephoneincreasesA.Event1

B.Events2,3,and4C.Event2D.Events1,2,3,and4E.Events1,3,and4CHECKPOINT4.1PracticeProblem1Whatistheeffectofeachofthefollowingeventsonthesupplyoftimberbeams:Thewagerateofsawmillworkersrises.Thepriceofsawdustrises.Thepriceofatimberbeamrises.Thepriceofatimberbeamisexpectedtorisenextyear.Congresstointroduceanewlawthatreducestheamountofforestthatcanbecutfortimberproducts.Anewtechnologylowersthecostofproducingtimberbeams.CHECKPOINT4.2SolutionAriseinsawmillworkers’wageratesdecreasesthesupplyoftimberbeams.Ariseinthepriceofsawdustincreasesthesupplyoftimberbeamsbecausesawdustandtimberbeamsarecomplementsinproduction.Ariseinthepriceofatimberbeamincreasesthequantityoftimberbeamssuppliedbuthasnoeffectonthesupplyoftimberbeams.CHECKPOINT4.2Anexpectedriseinthepriceofatimberbeamdecreasesthesupplyoftimberbeamsasproducersholdbackandwaitforthehigherprice.Thenewlawthatreducestheamountofforestthatcanbecutfortimberproductsdecreasesthesupplyoftimberbeams.Anewtechnologythatlowersthecostofproducingtimberbeamsincreasesthesupplyoftimberbeams.CHECKPOINT4.2StudyPlanProblemInthemarketfortimberbeams,whenthewageratepaidtosawmillworkersrises,______.A. thequantityoftimberbeamssupplieddecreasesB. thesupplyoftimberbeamsincreasesC. thequantityoftimberbeamssuppliedincreasesD. thesupplyoftimberbeamsdecreasesE. thequantityoftimberbeamssuppliedincreasesand thesupplyoftimberbeamsalsoincreasesCHECKPOINT4.2Congresstointroduceanewlawthatreducestheamountofforestthatcanbecutfortimberproducts.Inthemarketfortimberbeams,

A. thesupplyoftimberbeamsdecreases.B. thequantityoftimberbeamssuppliedincreasesand thesupplyoftimberbeamsalsoincreasesC. thequantityoftimberbeamssupplieddecreasesD. thesupplyoftimberbeamsincreases.E. thequantityoftimberbeamssuppliedincreases

CHECKPOINT4.2PracticeProblem2Useagraphtoillustratetheeffectofeachofthefollowingevents:Thewagerateofsawmillworkersrises.Thepriceofsawdustrises.Thepriceofatimberbeamrises.Thepriceofatimberbeamisexpectedtorisenextyear.Congresstointroduceanewlawthatreducestheamountofforestthatcanbecutfortimberproducts.Anewtechnologylowersthecostofproducingtimberbeams.CHECKPOINT4.2SolutionAnincreaseinthesupplyoftimberbeamsastheshiftofthesupplycurverightwardfromS0toS1.Adecreaseinthesupply

astheshiftofthesupplycurveleftwardfromS0toS2.CHECKPOINT4.2AriseinthepriceofatimberbeamincreasesthequantitysuppliedandcreatesamovementalongthesupplycurveS.CHECKPOINT4.2PracticeProblem3Whicheventsillustratethelawofsupply?Thewagerateofsawmillworkersrises.Thepriceofsawdustrises.Thepriceofatimberbeamrises.Thepriceofatimberbeamisexpectedtorisenextyear.Congresstointroduceanewlawthatreducestheamountofforestthatcanbecutfortimberproducts.Anewtechnologylowersthecostofproducingtimberbeams.CHECKPOINT4.2SolutionAriseinthepriceofatimberbeam

(otherthingsremainingthesame),illustratesthelawofsupply.Thefigureillustratesthelawofsupply.Theothereventschangesupplyanddonotillustratethelawofsupply.CHECKPOINT4.2PracticeProblem1Thetableshowsthedemandandsupplyschedulesformilk.Whatistheequilibriumpriceandequilibriumquantityofmilk?CHECKPOINT4.3SolutionTheequilibriumpriceisthepriceatwhichthequantitydemandedequalsthequantitysupplied.Theequilibriumpriceis$1.50acarton.Theequilibriumquantityis150cartonsaday.CHECKPOINT4.3PracticeProblem2Thetableshowsthedemandandsupplyschedulesformilk.Describethesituationinthemilkmarketifthepricewere$1.75acartonandexplainhowthemarketreachesitsnewequilibrium.CHECKPOINT4.3SolutionAt$1.75acarton,thequantitydemanded(125cartons)islessthanthequantitysupplied(170cartons),sothereisasurplusof

45cartonsaday.Thepricebeginstofall,andasitdoes,thequantitydemandedincreases,thequantitysupplieddecreases,andthesurplusdecreases.CHECKPOINT4.3Thepricewillfalluntilthesurplusiseliminated.

Thepricefallsto$1.50acarton.StudyPlanProblemAt$1.75acarton,a_____exists.

Astheprice_____,thequantitydemanded_____andthequantitysupplied____.A.shortage;rises;decreases; increases

B.shortage;rises;increases; decreases

CHECKPOINT4.3C.surplus;falls;decreases;increasesD.surplus;falls;increases;decreasesPracticeProblem3Thetableshowsthedemandandsupplyschedulesformilk.Adroughtdecreasesthequantitysuppliedby45cartonsadayateachprice.Whatisthenewmarketequilibriumandhowdoesthemarketadjusttoit?CHECKPOINT4.3SolutionThesupplydecreasesby45cartonsaday.At$1.50acarton,thequantitydemandedexceedsthequantitysupplied,sothereisashortageofmilk.Asthepricebeginstorise,thequantitydemandeddecreases,thequantitysuppliedincreases,andtheshortagedecreases.CHECKPOINT4.3Thepricewillriseuntiltheshortageiseliminated.

Thepricerisesto$1.75acarton.StudyPlanProblemThequantitysupplieddecreasesby45cartonsadayateachprice.Attheinitialequilibriumprice,thereisa________ofmilk.Theprice_______andthequantitydemanded_______asthemarketmovestoitsnewequilibrium.

A.surplus;rises;decreasesB.surplus;falls;increasesC.shortage;falls;decreasesD. shortage;falls;increasesE. shortage;rises;decreasesCHECKPOINT4.3PracticeProblem4Thetableshowsthedemandandsupplyschedulesformilk.Milkbecomesmorepopularandbetterfeedsincreasemilkproduction.Howdotheseeventsinfluencedemandandsupply?Whatisthenewmarketequilibriumandhowdoesthemarketadjusttoit?CHECKPOINT4.3SolutionWhenmilkbecomesmorepopular,demandincreases.Withbetterfeeds,supplyincreases.Ifsupplyincreasesbymorethandemand,asurplusarisesat$1.50.Thepricefalls,andthequantityincreases.CHECKPOINT4.3Ifdemandincreasesbymorethansupply,ashortagearises.Thepricerises,andthequantityincreases.Ifdemandandsupplyincreasebythesameamount,thereisnoshortageorsurplusandthepricedoesnotchangebutthequantityincreases.CHECKPOINT4.3StudyPlanProblemMilkbecomesmorepopularandbetterfeedsincreasemilkproduction.Ifsupplychangesbymoredemandchanges,theequilibriumpriceofmilk_____andtheequilibriumquantityofmilk_____.A.falls;decreasesB.falls;increasesC.doesnotchange;doesnot changeD. rises;increasesE. rises;decreasesCHECKPOINT4.3PracticeProblem1ThefigureshowsthemarketfortomatopickersinsouthernCalifornia.

Whatistheequilibriumwagerateandwhatistheequilibriumquantityoftomatopickersemployed?IfCaliforniaintroducesaminimumwageof$4anhour,howmanytomatopickersareemployed,andhowmanyareunemployed?CHECKPOINT4.4SolutionTheequilibriumwagerateis$6anhour,and4,000pickersareemployed.Theminimumwageof$4anhourisbelowtheequilibriumwagerate,so4,000tomatopickersareemployedandnoneareunemployed.CHECKPOINT4.4PracticeProblem2ThefigureshowsthemarketfortomatopickersinsouthernCalifornia.IfCaliforniaintroducesaminimumwageof$8anhour,howmanytomatopickersareemployedandhowmanyareunemployed?Whatisthelowestwagethatsomeworkersmightbeabletoearnifablackmarketdeveloped?CHECKPOINT4.4SolutionTheminimumwageof$8anhourisabovetheequilibriumwagerate:3,000pickersareemployed(fromthedemandcurve)5,000peoplewouldliketoworkaspickersfor$8anhour(fromthesupplycurve),2,000pickersareunemployed.CHECKPOINT4.4Ifablackmarketdeveloped,thelowestwagethatsomeworkersmightbeabletoearnwouldbe$4anhour.CHECKPOINT4.4PracticeProblem3ThefigureshowsthemarketfortomatopickersinsouthernCalifornia.Istheminimumwageof$8anhourefficient?Whogainsandwholosesfromtheminimumwageof$8andhour?Istheminimumw