从国外网站档下来的英文版宏经习题Word格式.docx

从国外网站档下来的英文版宏经习题Word格式.docx

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C.Atechnologicaladvanceimprovestheproductionfunction.

Problem2:

Ifa10-percentincreaseinbothcapitalandlaborcausesoutputtoincreasebylessthan10percent,theproductionfunctionissaidtoexhibitdecreasingreturnstoscale.Ifitcausesoutputtoincreasebymorethan10percent,theproductionfunctionissaidtoexhibitincreasingreturnstoscale.Whymightaproductionfunctionexhibitincreasingordecreasingreturnstoscale?

Problem3:

Supposethataneconomy’sproductionfunctionisCobb-Douglaswithparameteralpha=0.3.

3.3A.Whatfractionsofincomedocapitalandlaborreceive?

3.3B.Supposethatimmigrationraisesthelaborforceby10percent.Whathappenstototaloutput（inpercent）?

Therentalpriceofcapital?

Therealwage?

3.3C.Supposethatagiftofcapitalfromabroadraisesthecapitalstockby10percent.Whathappenstototaloutput（inpercent）?

3.3D.SupposethatatechnologicaladvanceraisesthevalueoftheparameterAby10percent.Whathappenstototaloutput（inpercent）?

Problem4.:

Empiricallythetrendintherealwagecloselytracksthetrendinlaborproductivity.Explainwhy?

Problem5.A.Overthepastcentury,theproductivityoffarmershasrisensubstantiallybecauseoftechnologicalprogress.Accordingtotheneoclassicaltheory,whatshouldhavehappenedtotheirrealwage?

B.Overthesameperiod,theproductivityofbarbershasremainedconstant.Supposeworkerscanmovefreelybetweenfarmersandbeingbarbers.Whatdoesthismobilityimplyforthewagesoffarmersandbarbers?

C.Whatdoyourpreviousanswersimplyforthepriceofhaircutsrelativetothepriceoffood?

D.Whobenefitsfromtechnologicalprogressinfarming–farmersorbarbers?

Problem6.:

（Harder）ConsideraCobb-Douglasproductionfunctionwiththreeinputs.Kiscapital（thenumberofmachines）,Lislabor（thenumberofworkers）,andHishumancapital（thenumberofcollegedegreesamongtheworkers）.Theproductionfunctionis:

Problem6A.Deriveanexpressionforthemarginalproductoflabor.Howdoesanincreaseintheamountofhumancapitalaffectthemarginalproductoflabor?

Problem6B.Deriveanexpressionforthemarginalproductofhumancapital.Howdoesanincreaseintheamountofhumancapitalaffectthemarginalproductofhumancapital?

Problem6C.Whatistheincomesharepaidtolabor?

Whatistheincomesharepaidtohumancapital?

Inthenationalincomeaccountsofthiseconomy,whatshareoftotalincomedoyouthinkworkerswouldappeartoreceive?

（Hint:

Considerwherethereturntohumancapitalshowsup.）

Problem6D.Anunskilledworkersearnsthemarginalproductoflabor,whereasaskilledworkerearnsthemarginalproductoflaborplusthemarginalproductofhumancapital.Usingyouranswersto（a）and（b）,findtheratiooftheskilledwagetotheunskilledwage.Howdoesanincreaseintheamountofhumancapitalaffectthisratio?

Explain.

Problem6E.Somepeopleadvocategovernmentfundingofcollegescholarshipsasawayofcreatingamoreegalitariansociety.Othersarguethatscholarshipshelponlythosewhoareabletogotocollege.Doyouranswerstotheprecedingquestionsshedlightonthisdebate?

THELABORMARKET

ConsideraneconomywiththefollowingCobb-Douglasproductionfunction:

.Theeconomyhas1000unitsofcapitalandalaborforceof1000workers.

A.Derivetheequationdescribingthelabordemandinthiseconomyasafunctionoftherealwageandthecapitalstock.B.Iftherealwagecanadjusttoequilibratelaborsupplyandlabordemand,whatistherealwage?

Inthisequilibrium,whatisemployment,output,andthetotalamountearnedbyworkers?

C.Assumethataminimumwageof1dollarisimposedbyCongress.Whathappenstoemployment,output,andthetotalamountearnedbyworkers.D.Didtheminimumwagehelptheworkingclassinthisexample?

Supposethatacountryexperiencesareductioninproductivity（A）;

A.Whathappenstothelabordemandcurve?

B.Whatistheeffectonemployment,unemploymentandtherealwageifweassumeperfectcompetition?

Assumethatthelaborsupplycurveisvertical.

C.Howwouldthischangeinproductivityaffectemploymentifunionspreventtherealwagefromfalling?

TOPICS1and3:

GROWTHACCOUNTING（“TILLVÄ

XTBOKFÖ

RING”）ANDGROWTHRATES

Inaneconomywhichischaracterizedbyperfectcompetitioninthegoodsandlabormarket,theownersofcapitalgettwo-thirdsofnationalincome,andtheworkersreceiveone-third.AssumeaCobb-Douglasaggregateproductionfunction.

Problem1A:

Themenstayathomeinthiseconomy,whilethewomenworkinfactories.Ifsomeofthemenstartedworkingoutsidethehomesothatthelaborforceincreasedby5percent,whatwouldhappentothemeasuredoutputoftheeconomy?

Doeslaborproductivity（outputperworker）increase,decreaseorstaythesame?

Doestotalfactorproductivity（A）increase,decrease,orstaythesame?

Problem1B:

Inyear1,thecapitalstockwas6,thelaborinputwas3,andoutputwas12.Inyear2,thecapitalstockwas7,thelaborinputwas4,andoutputwas14.Whathappenedtototalfactorproductivitybetweentheyears?

Assumeaneconomywhichischaracterizedbyperfectcompetitioninthegoodsandlabormarket,inwhichtheownersofcapitalgetone-thirdofnationalincome,andtheworkersreceivetwo-thirds.AssumeaCobb-Douglasaggregateproductionfunction.

Assumethattotaloutputandtotalcapitalstockgrowat3.6percentperyear,andthatlaborinputgrowsbyonepercentperyear.Usethegrowth-accountingequationtodivideoutputgrowthintothreesources–capital,labor,andtotalfactorproductivity–howmuchofoutputgrowthwouldyouattributetoeachsource?

Problem4.IfGDPpercapitainSweden（in1995prices）in1995and2000were194and222thousandsofkronor,whatwastheaverageannualrateofeconomicgrowthduringthis5-yearperiod?

Problem5.Ifavariableduringa30-yearperiodincreasesby54percent,whataverageannualgrowthratedoesthiscorrespondto?

Problem6.IfthegrowthrateofGDPpercapitawas2percentbetween1960and1990,andthepopulationgrowthratewas3percentduringthesameperiod,whatwasthegrowthrateofGDPduringthisperiod?

Problem7:

AssumethatGDPpercapitainSwedenandZambiain2002were16000and800USD,respectively,andthatthegrowthrateofGDPpercapitainSwedenandZambiais1and7percent,respectively.

a）Howdoestheabsolutedifferencebetweenthe2countriesdevelopovertime?

Thatis,GDPpercapitainSweden–GDPpercapitainZambia.

b）Howdoestherelativedifferencedevelopovertime?

Thatis,GDPpercapitainSweden/GDPpercapitainZambia.

YoumaywanttouseEXCELtoanswerthesequestions.

Problem8:

Ifyourwageis100kronorandthegrowthrateis5percent,howmanyyearsdoesittakeforyourwagetodouble?

TOPIC4:

ECONOMICGROWTHTHEORY:

THESOLOWMODEL

Problem00:

ShowintheSolow-diagramandexplaininwords:

A.Theeffectofanincreasedsavingrateonthesteady-statelevelsofproductionperworker（Y/L）,capitalperworker（K/L）,andtherealwage（W/P）.

B.Theeffectofalowerpopulationgrowthrateonthesteady-statelevelsofproductionperworker（Y/L）,capitalperworker（K/L）,andtherealwage（W/P）.

C.Theeffectofabettertechnologyonthesteady-statelevelsofproductionperworker（Y/L）,capitalperworker（K/L）,andtherealwage（W/P）.

Problem01A.Inthelong-runequilibrium,assumethatthelong-runpopulationgrowthrateis2percent（thatis,n=0.02）,andthelong-rungrowthrateofAis0percent（thatis,g=0）,calculatethelong-runequilibriumgrowthrateofY,（Y/L）,K,（K/L）,andtherealwage（W/P）.

Problem01B.Inthelong-runequilibrium,assumethatthelong-runpopulationgrowthrateis2percent（thatis,n=0.02）,andthelong-rungrowthrateofAis2percent（thatis,g=0.02）,calculatethelong-runequilibriumgrowthrateofY,（Y/L）,K,（K/L）,andtherealwage（W/P）.

QuantitativequestionsontheSolowModel:

CountryAandBhastheproductionfunction:

A.Doesthisproductionfunctionhaveconstantreturnstoscale?

B.Whatistheper-workerproductionfunction,Y/L=f（K/L）

C.Assumethatneithercountryexperiencespopulationgrowthortechnologicalprogressandthat5percentofcapitaldepreciateseachyear.AssumefurtherthatcountryAsaves10percentofoutputeachyear,andcountryBsaves20percentofoutputeachyear.Findthesteadystatelevelofcapitalperworker,thesteady-statelevelofincomeperworkerandconsumptionperworker.

D.Supposethatbothcountriesstartoffwithacapitalstockperworkerof2.Whatarethelevelsofincomeperworkerandconsumptionperworker?

Rememberingthatthechangeinthecapitalstockisgrossinvestmentminusdepreciation,calculatecapitalstockperworker,incomeperworker,andconsumptionperworkerovertime.HowmanyyearswillitbebeforeconsumptionperworkerinCountryBishigherthanthelevelofconsumptionperworkerincountryA.

InthediscussionofGermanandJapanesepostwargrowth,thetextdescribeswhathappenswhenpartofthecapitalstockisdestroyedinawar.Bycontrast,supposethatawardoesnotaffectthecapitals