水平效应的证明.pptVIP

Some Challenging Problems (continued) 3) Look back to our example of the adjustment dynamic process. Why is the curve concave nearby t1? Study the shape of the ΔY/Y-t graph or other cases of adjustment dynamic process if you are interested. Reference 王志伟译著，Rudiger Dornbusch, Stanley Fischer and Richard Startz, Macroeconomics , Tenth Edition (东北财经大学出版社,2008) N. Gregory Mankiw, Macroeconomics, Fifth Edition (Worth Publishers,2003) David Romer, Advanced Macroeconomics, Second Edition (McGraw-Hill, 2001) 徐现祥编著，图解宏观经济学，第一版（中国人民大学出版社，2008） * Price Level: An Example Consider an economy that produces only apples. In the following table are data for two different years. Year 1 Year 2 Price of red apples $1 $2 Price of green apples $2 $1 Number of red apples produced 10 0 Number of green apples produced 0 10 Assume the only consumer in the economy Guy consumes all the apples produced each year. a) Compute the nominal GDP for each year. b) Compute the real GDP for each year. (Use Year 1 as the base year.) c) What’s the GDP deflator for each year? And compute the inflation rate over Year 2 measured by GDP deflator. d) Assume year 1 is the base year in which the consumer basket is fixed. Calculate the CPI for each year, and the inflation rate over Year 2 measured by CPI. e) If it’s indifferent for Guy to consume red apples and green apples, think of your answer of c) and d). What’s your comment? Now Turn Back to AS-AD Framework Y P AD AS Y* The Classical Supply Curve Y P Y* AS Shifts in Aggregate Supply: Very Long Run Y P Economic Growth: Mathematical Preparation About growth rate the growth rate of X can be calculated using the following formula: Actually, let Mathematical Preparation(continued) Note: X is the function of time t.(X is just a simplified notation of X(t).) Most of the variables we are going to talk about are functions of time t. REMEMBER THIS! Suppose X or X(t) is derivable (thus is continuous). Continuous Case of Growth Rat