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克鲁格曼国际经济学答案
克鲁格曼国际经济学答案
PAGE / NUMPAGES
克鲁格曼国际经济学答案
Chapter 3
In 1986, the price of oil on world markets dropped sharply. Since the United States is an
oil-importing country, this was widely regarded as good for the U.S. economy. Yet in
Texas and Louisiana 1986 was a year of economic decline. Why?
It can deduce that Texas and Louisiana are oil-producing states of United States. So when the
price of oil on world markets declined, the real wage of this industry fell in terms of other
goods. This might be the reason of economic decline in these two states in 1986.
2。 An economy can produce good 1 using labor and capital and good 2 using labor and land.
The total supply of labor is 100 units. Given the supply of capital, the outputs of the two
goods depends on labor input as follows:
To analyze the economy ’s production possibility frontier, consider how the output mix changes as labor is shifted between the two sectors.
Graph the production functions for good 1 and good 2.
Q1
Q1(K1,L1)
Q2
Q2(K2,L2)
Production Function for Good 1
Output
100
93.9
100
90
80.7
87.4
80
73.6
70
66
60
57.5
50
38.1
48.6
40
30
25.1
20
10
0
0
0
10
20
30
40
50
60
70
80
90
100
Production Function for Good 2
Labor Input for Good 1
Output
100
91.4
95.5 100
90
81.5
86.7
80
75.8
70
69.3
60
52.5
61.8
50
40
39.8
30
20
10
0
0
0
10
20
30
40
50
60
70
80
90
100
Labor Input for Good 2
Graph the production possibility frontier. Why is it curved?
Q2 Q2(K
2,L2 )
Q 2
100
PPF
L
2
Q1
100
L 1
Q1
Q1(K1, L1)
The PPF is curved due to declining marginal product of labor in each good. The total labor supply is fixed. So as L 1 rises, MPL 1 falls; correspondingly, as L 2 falls, MPL 2 rises. So PP gets steeper as we move down it to the right.
The marginal product of labor curves corresponding to the production functions in problem2 are as follows:
Suppose that the price of good 2 relative to that of good 1 is 2. Determine graphically the wage rate and the allocation of labor between the two sectors.
With the as
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