布兰查德宏观经济学答案（英文版）.docVIP

Answers to End-of-Chapter Questions and Problems Chapter 1 1. a. True. b. True. c. False. d. True. e. False. f. False. 2. a. 1960-98 1997-99 US 3.1% 3.8% EU 3.1% 2.5% Japan 5.8% -1.0% While the US growth rate higher than its long-run average over the period, the growth rate has slowed relative to long-run averages in both the EU and Japan over the last few years. b. Sometimes the economy is growing quickly, other times it is growing slowly or even contracting. The last few years of rapid growth in the US do not imply that the long-run average rate of growth has increased back to its pre-1974 level. 3. a. The data in the web page are: Real Gross Domestic Product, Real Final Sales of Domestic Product, and Real Gross National Product, Quarterly, 1959-96 [Percent change from preceding quarter] Gross Final sales Gross domestic of domestic national product product product 1959: I 8.6 9.2 8.6 II 11.2 7.3 11.1 III -0.3 5.3 -0.2 IV 1.7 -1.3 1.9 1996: I 1.8 2.6 1.8 II 6.0 5.2 5.7 III 1.0 0.2 0.6 IV 4.3 4.5 4.9 165 suggesting that recessions typically last two-three quarters and that the most severe recessions in that period were the recessions of 1974-75 and 1981-82. b. Percentage Changes in: Output Growth Inflation 1968: 4.7 4.4 I 7.5 4.7 II 7.1 4.1 III 3.0 3.8 IV 1.8 5.5 1969: 3.0 4.7 I 6.2 3.8 II 1.0 5.0 III 2.3 5.8 IV -2.0 5.1 1970: 0.1 5.3 I -0.7 6.0 II 0.6 5.7 III 3.7 3.4 IV -3.9 5.4 1971: 3.3 5.2 I 11.3 6.4 II 2.3 5.5 III 2.6 4.4 IV 1.1 3.3 If history simply repeats itself, the United States might have a short recession (lasting perhaps one year) accompanied by an acceleration in the rate of inflation by about one percentage point. 4. a. Banking services, business services. b. Not only has the relative demand for skilled workers increased but the industries where this effect is the strongest are making up a greater fraction of the economy. 5. 1. Low unemployment might lead to an increase in inflation. 2. Alth