[PDF格式] 《宏观经济学》答案（曼昆，第五版，英文版）pdf格式
C H A P T E R 2 The Data of Macroeconomics
Questions for Review
1. GDP measures both the total income of everyone in the economy and the total expenditure
on the economy’s output of goods and services. GDP can measure two things at
once because both are really the same thing: for an economy as a whole, income must
equal expenditure. As the circular flow diagram in the text illustrates, these are alternative,
equivalent ways of measuring the flow of dollars in the economy.
2. The consumer price index measures the overall level of prices in the economy. It tells us
the price of a fixed basket of goods relative to the price of the same basket in the base
year.
3. The Bureau of Labor Statistics classifies each person into one of the following three categories:
employed, unemployed, or not in the labor force. The unemployment rate,
which is the percentage of the labor force that is unemployed, is computed as follows:
Unemployment Rate = .
Note that the labor force is the number of people employed plus the number of people
unemployed.
4. Okun’s law refers to the negative relationship that exists between unemployment and
real GDP. Employed workers help produce goods and services whereas unemployed
workers do not. Increases in the unemployment rate are therefore associated with
decreases in real GDP. Okun’s law can be summarized by the equation:
%ΔReal GDP = 3% – 2 × (ΔUnemployment Rate).
That is, if unemployment does not change, the growth rate of real GDP is 3 percent. For
every percentage-point change in unemployment (for example, a fall from 6 percent to 5
percent, or an increase from 6 percent to 7 percent), output changes by 2 percent in the
opposite direction.
Problems and Applications
1. A large number of economic statistics are released regularly. These include the following:
Gross Domestic Product—the market value of all final goods and services produced in a
year.
The Unemployment Rate—the percentage of the civilian labor force who do not have a
job.
Corporate Profits—the accounting profits remaining after taxes of all manufacturing
corporations. It gives an indication of the general financial health of the corporate sector.
The Consumer Price Index (CPI)—a measure of the average price that consumers pay
for the goods they buy; changes in the CPI are a measure of inflation.
The Trade Balance—the difference between the value of goods exported abroad and the
value of goods imported from abroad.
5
Number of Unemployed × 100
Labor Force |
