《宏觀經(jīng)濟(jì)學(xué)原理》ch13

ASADandtheBusinessCycleCHAPTER13CHECKPOINTSProblem1Problem2Problem2Problem3Problem1Problem2Problem1Checkpoint13.1Checkpoint13.3Checkpoint13.4Problem1Checkpoint13.2ClickerversionClickerversionClickerversionClickerversionPracticeProblem1

ThetableshowsrealGDPinCanadafromthefirstquarterof1989tothefourthquarterof1993.InwhichquarterwasCanadaatabusiness-cyclepeak,andinwhichquarterwasCanadaatabusiness-cycletrough?CHECKPOINT13.1SolutionAbusiness-cyclepeakoccurredinthefirstquarterof1990whenrealGDPreached$711billionbeforedecreasing.Abusiness-cycletroughoccurredinthefirstquarterof1991whenrealGDPfellto$689billionbeforeincreasing.CHECKPOINT13.1PracticeProblem2ThetableshowsrealGDPinCanadafromthefirstquarterof1989tothefourthquarterof1993.DidCanadaexperiencearecessionduringtheseyears?Inwhatperiodsdiditexperienceanexpansion?CHECKPOINT13.1SolutionCanadaexperiencedarecession,whichranfromthefirstquarterof1990tothe firstquarterof1991.Canadaexperiencedexpansions,whichranfromthefirstquarterof1989tothe firstquarterof1990andfromthefirstquarterof1991 tothefourthquarterof1993.CHECKPOINT13.1PracticeProblem1ThefollowingeventshaveoccurredinIndia:U.S.firmsmovedtheircallhandling,IT,anddatafunctionstoIndia.Fuelpricesrose.Wal-MartandStarbucksopened.UniversitiesinIndiaincreasedthenumberofengineeringgraduates.Themoneywageraterose.Thepricelevelincreased.ExplaintheinfluenceofeacheventonthequantityofGDPsuppliedandaggregatesupplyinIndia.CHECKPOINT13.2SolutionAsbusinessesmovedtheircallhandling,ITanddatafunctionstoIndia,realGDPsuppliedatthecurrentpricelevelincreased.TheAScurveshiftedrightward.CHECKPOINT13.2Asfuelpricesrose,thequantityofrealGDPsuppliedatthecurrentpriceleveldecreasedTheAScurveshiftedleftward.CHECKPOINT13.2AsWal-MartandStarbucksopened,thequantityofrealGDPsuppliedatthecurrentpricelevelincreased.TheAScurveshiftedrightward.CHECKPOINT13.2Withmoreengineeringgraduates,thenumberofskilledworkersincreased,andproductionincreasedatthecurrentpricelevel.TheAScurveshiftedrightward.CHECKPOINT13.2Asmoneywageratesrose,firms’costsincreasedandthequantityofrealGDPsuppliedatthecurrentpriceleveldecreased.TheAScurveshiftedleftward.CHECKPOINT13.2Asthepricelevelincreased,otherthingsremainingthesame,businessesbecamemoreprofitableandincreasedthequantityofrealGDPsuppliedalongtheAScurve.TheAScurvedidnotshift.CHECKPOINT13.2StudyPlanProblemOverthepastdecade,U.S.firmsmovedtheircallhandling,ITanddatafunctionstoIndia.Intheshortrun,India’saggregatesupply_________.A.increasedB. didn’tchange,butU.S.aggregatesupplyincreasedC. decreasedbecausemoreofIndia’sworkersarenow employedbyU.S.firmsD. didn’tchange,butahigherpricelevelbroughtan increaseinthequantityofrealGDPsuppliedCHECKPOINT13.2Overthepastdecade,fuelpricesroseinIndia.Intheshortrun,India’saggregatesupply_________.A.increasedB. didn’tchange,thequantityofrealGDPsupplied decreasedC. didn’tchange,butthequantityofrealGDPsupplied increasedD. decreasedCHECKPOINT13.2Overthepastdecade,Wal-MartandStarbucksopenedinIndia.Intheshortrun,India’saggregatesupply_______.A.increasedB. didn’tchange,thequantityofrealGDPsupplied decreasedC. didn’tchange,butthequantityofrealGDPsupplied increasedD. decreasedCHECKPOINT13.2Overthepastdecade,universitiesinIndiaincreasedthenumberofengineeringgraduates.Intheshortrun,India’saggregatesupply_______.didn’tchange,thequantityofrealGDPsupplied decreasedincreasedC. didn’tchange,butthequantityofrealGDPsupplied increasedD. decreasedCHECKPOINT13.2Overthepastdecade,themoneywagerateinIndiarose.Intheshortrun,India’saggregatesupply_______.didn’tchange,butthepricelevelroseandthequantityof realGDPsuppliedincreasedincreaseddidn’tchange,butthepricelevelfellandthequantityof realGDPsupplieddecreaseddecreasedCHECKPOINT13.2Overthepastdecade,thepricelevelinIndiaincreased.Intheshortrun,India’saggregatesupply_______.didn’tchange,butthequantityofrealGDPsupplied decreasedincreaseddidn’tchange,butthequantityofrealGDPsupplied increaseddecreasedCHECKPOINT13.2PracticeProblem1MexicotradeswiththeUnitedStates.ExplaintheeffectofeachofthefollowingeventsonMexico’saggregatedemand.ThegovernmentofMexicocutsincometaxes.TheUnitedStatesexperiencesstrongeconomicgrowth.Mexicosetsnewenvironmentalstandardsthatrequire factoriestoupgradetheirproductionfacilities.CHECKPOINT13.3SolutionAtaxcutincreasesdisposableincome,whichincreasesMexico’saggregatedemand.TheADcurveshiftsrightward.CHECKPOINT13.3StrongU.S.growthincreasesthedemandforMexican-producedgoodsandincreasesMexico’saggregatedemand.TheADcurveshiftsrightward.CHECKPOINT13.3Asfactoriesupgradetheirfacilities,investmentincreases.Aggregatedemandincreases.TheADcurveshiftsrightward.CHECKPOINT13.3StudyPlanProblemIfthegovernmentofMexicocutsincometaxes,Mexico’saggregatedemand_________.A.decreases,andtheADcurveshiftsleftwardB. increases,andtheADcurveshiftsrightwardC. isunchangedbecauseitjustincreasestheamountthat taxpayerstransfertothegovernmentD. isunchanged,butthepricelevelrisesandthequantityof realGDPdemandeddecreasesCHECKPOINT13.3StudyPlanProblemMexicotradeswiththeUnitedStates.IftheUnitedStatesexperiencesstrongeconomicgrowth,Mexico’saggregatedemand_________.A.decreasesandtheADcurveshiftsleftwardB. isunchanged,butthequantityofrealGDPdemanded increasesC. isunchanged,butU.S.aggregatedemandincreasesD. increasesbecauseitsexportstotheUnitedStates increasesCHECKPOINT13.3StudyPlanProblemWhenMexicosetsnewenvironmentalstandardsthatrequirefactoriestoupgradetheirproductionfacilities.Mexico’saggregatedemand_________.increasesbecauseinvestmentincreasesisunchanged,butthequantityofrealGDPdemanded increasesC.isunchanged,butthequantityofrealGDPdemanded decreasesD. decreasesCHECKPOINT13.3PracticeProblem2MexicotradeswithEurope.ExplaintheeffectofeachofthefollowingeventsonMexico’saggregatedemand.Europegoesintoarecession.ThepricelevelinMexicorises.Mexicoincreasesthequantityofmoney.CHECKPOINT13.3SolutionArecessioninEuropedecreasesEuropeandemandforMexicangoods.Mexico’sexportsdecrease.AggregatedemanddecreasesandtheADcurveshiftsleftward.CHECKPOINT13.3AriseinthepriceleveldecreasesthequantityofrealGDPdemandedalongtheADcurve,buttheADcurvedoesnotshift.CHECKPOINT13.3Anincreaseinthequantityofmoneyincreasesaggregatedemand,andtheADcurveshiftsrightward.CHECKPOINT13.3PracticeProblem1TheU.S.economyisatfullemploymentwhenthefollowingeventsoccur:Adeeprecessionhitstheworldeconomy.Theworldoilpricerisesbyalargeamount.U.S.businessesexpectfutureprofitstofall.Explaintheeffectofeacheventseparatelyonaggregatedemandandaggregatesupply.HowwillrealGDPandpricelevelchangeintheshortrun?CHECKPOINT13.4SolutionAdeeprecessionintheworldeconomydecreasesU.S.aggregatedemand.TheADcurveshiftsleftward.Intheshortrun,U.S.realGDPdecreasesandthepricelevelfalls.CHECKPOINT13.4AriseintheworldoilpricedecreasesU.S.aggregatesupply.TheAScurveshiftsleftward.Intheshortrun,U.S.realGDPdecreasesandthepricelevelrises.CHECKPOINT13.4AfallinexpectedfutureprofitsdecreasesU.S.aggregatedemand.TheADcurveshiftsleftward.Intheshortrun,U.S.realGDPdecreasesandthepricelevelfalls.CHECKPOINT13.4PracticeProblem2TheU.S.economyisatfullemploymentwhenthefollowingeventsoccur:Adeeprecessionhitstheworldeconomy.Theworldoilpricerisesbyalargeamount.U.S.businessesexpectfutureprofitstofall.ExplainthecombinedeffectoftheseeventsonrealGDPandpricelevel.CHECKPOINT13.4SolutionAllthreeeventsdecreaseU.S.realGDP.Thedeepworldrecessionandthefallinexpectedfutureprofitsdecreasethepricelevel.Theriseintheworldoilpriceincreasesthepricelevel.Sothecombinedeffectonthepricelevelisambiguous.CHECKPOINT13.4StudyPlanProblemTheU.S.economyisatfullemploymentwhenadeeprecessionhitstheworldeconomy,theworldoilpricerisesbyalargeamount,andU.S.businessesexpectfutureprofitstofall.TheU.S.pricelevelrisesandrealGDPdec