克鲁格曼国际经济学课后答案英语版.docx

克鲁格曼国际经济学课后答案英语版.docx

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克鲁格曼国际经济学课后答案英语版

CHAPTER2

LaborProductivityandComparativeAdvantage:

TheRicardianModel

AnswerstoTextbookProblems

1.a.Theproductionpossibilitycurveisastraightlinethatinterceptstheappleaxisat400（1200/3）andthebananaaxisat600（1200/2）.

b.Theopportunitycostofapplesintermsofbananasis3/2.Ittakesthreeunitsoflabortoharvestanapplebutonlytwounitsoflabortoharvestabanana.Ifoneforegoesharvestinganapple,thisfreesupthreeunitsoflabor.These3unitsoflaborcouldthenbeusedtoharvest1.5bananas.

c.Labormobilityensuresacommonwageineachsectorandcompetitionensuresthepriceofgoodsequalstheircostofproduction.Thus,therelativepriceequalstherelativecosts,whichequalsthewagetimestheunitlaborrequirementforapplesdividedbythewagetimestheunitlaborrequirementforbananas.Sincewagesareequalacrosssectors,thepriceratioequalstheratiooftheunitlaborrequirement,whichis3applesper2bananas.

2.a.Theproductionpossibilitycurveislinear,withtheinterceptontheappleaxisequalto160（800/5）andtheinterceptonthebananaaxisequalto800（800/1）.

b.Theworldrelativesupplycurveisconstructedbydeterminingthesupplyofapplesrelativetothesupplyofbananasateachrelativeprice.Thelowestrelativepriceatwhichapplesareharvestedis3applesper2bananas.Therelativesupplycurveisflatatthisprice.Themaximumnumberofapplessuppliedatthepriceof3/2is400suppliedbyHomewhile,atthisprice,Foreignharvests800bananasandnoapples,givingamaximumrelativesupplyatthispriceof1/2.Thisrelativesupplyholdsforanypricebetween3/2and5.Atthepriceof5,bothcountrieswouldharvestapples.Therelativesupplycurveisagainflatat5.Thus,therelativesupplycurveisstepshaped,flatattheprice3/2fromtherelativesupplyof0to1/2,verticalattherelativequantity1/2risingfrom3/2to5,andthenflatagainfrom1/2toinfinity.

3.a.Therelativedemandcurveincludesthepoints（1/5,5）,（1/2,2）,（1,1）,（2,1/2）.

b.Theequilibriumrelativepriceofapplesisfoundattheintersectionoftherelativedemandandrelativesupplycurves.Thisisthepoint（1/2,2）,wheretherelativedemandcurveintersectstheverticalsectionoftherelativesupplycurve.Thustheequilibriumrelativepriceis2.

c.Homeproducesonlyapples,Foreignproducesonlybananas,andeachcountrytradessomeofitsproductfortheproductoftheothercountry.

d.Intheabsenceoftrade,Homecouldgainthreebananasbyforegoingtwoapples,andForeigncouldgainbyoneappleforegoingfivebananas.Tradeallowseachcountrytotradetwobananasforoneapple.HomecouldthengainfourbananasbyforegoingtwoappleswhileForeigncouldgainoneapplebyforegoingonlytwobananas.Eachcountryisbetteroffwithtrade.

4.TheincreaseinthenumberofworkersatHomeshiftsouttherelativesupplyschedulesuchthatthecornerpointsareat（1,3/2）and（1,5）insteadof（1/2,3/2）and（1/2,5）.Theintersectionoftherelativedemandandrelativesupplycurvesisnowinthelowerhorizontalsection,atthepoint（2/3,3/2）.Inthiscase,ForeignstillgainsfromtradebuttheopportunitycostofbananasintermsofapplesforHomeisthesamewhetherornotthereistrade,soHomeneithergainsnorlosesfromtrade.

5.Thisanswerisidenticaltothatin3.Theamountof"effectivelabor"hasnotchangedsincethedoublingofthelaborforceisaccompaniedbyahalvingoftheproductivityoflabor.

6.Thisstatementisjustanexampleofthepauperlaborargumentdiscussedinthechapter.Thepointisthatrelativewageratesdonotcomeoutofthinair;theyaredeterminedbycomparativeproductivityandtherelativedemandforgoods.Theboxinthechapterprovidesdatawhichshowsthestrongconnectionbetweenwagesandproductivity.Korea'slowwagepresumablyreflectsthefactthatKoreaislessproductivethantheUnitedStatesinmostindustries.Asthetestexampleillustrated,ahighlyproductivecountrythattradeswithalessproductive,low-wagecountrywillraise,notlower,itsstandardofliving.

7.Theproblemwiththisargumentisthatitdoesnotusealltheinformationneededfordeterminingcomparativeadvantageinproduction:

thiscalculationinvolvesthefourunitlaborrequirements（forboththeindustryandservicesectors,notjustthetwofortheservicesector）.Itisnotenoughtocompareonlyservice'sunitlaborrequirements.Ifals

8.WhileJapaneseworkersmayearntheequivalentwagesofU.S.workers,thepurchasingpoweroftheirincomeisone-thirdless.Thisimpliesthatalthoughw=w*（moreorless）,p

9.Gainsfromtradestillexistinthepresenceofnontradedgoods.Thegainsfromtradedeclineastheshareofnontradedgoodsincreases.Inotherwords,thehighertheportionofgoodswhichdonotenterinternationalmarketplace,thelowerthepotentialgainsfromtrade.Iftransportcostswerehighenoughsothatnogoodsweretradedthen,obviously,therewouldbenogainsfromtrade.

10.Theworldrelativesupplycurveinthiscaseconsistsofastepfunction,withasmany"steps"（horizontalportions）astherearecountrieswithdifferentunitlaborrequirementratios.Anycountriestotheleftoftheintersectionoftherelativedemandandrelativesupplycurvesexportthegoodinwhichtheyhaveacomparativeadvantagerelativetoanycountrytotherightoftheintersection.Iftheintersectionoccursinahorizontalportionthenthecountrywiththatpriceratioproducesbothgoods.

CHAPTER3

SpecificFactorsandIncomeDistribution

AnswerstoTextbookProblems

1.TexasandLouisianaarestateswithlargeoil-producingsectors.Therealwageofoil-producingfactorsofproductionintermsofothergoodsfallswhenthepriceofoilfallsrelativetothepriceofothergoods.Thiswasthesourceofeconomicdeclineinthesestatesin1986.

2.Toanalyzetheeconomy'sproductionpossibilityfrontier,considerhowtheoutputmixchangesaslaborisshiftedbetweenthetwosectors.

a.Theproductionfunctionsforgoods1and2arestandardplotswithquantitiesontheverticalaxis,laboronthehorizontalaxis,andQ1=Q1（K1,L1）withslopeequaltotheMPL1,andonanothergraph,Q2=Q2（K2,L2）withslopeequaltotheMPL2.

Figure3-1

b.Tographtheproductionpossibilitiesfrontier,combinetheproductionfunctiondiagramswiththeeconomy'sallocationoflaborinafourquadrantdiagram.Theeconomy'sPPFisintheupperrighthandcorner,asisillustratedinthefourquadrantdiagramabove.ThePPFiscurvedduetodecliningmarginalproductoflaborineachgood.

3.a.Tosolvethisproblem,onecangraphthedemandcurveforlaborinsector1,representedby（w=MPL1=demandforL1）andthedemandcurveforlaborinsector2,representedby（w=MPL2=demandforL2）.Sincethetotalsupplyoflaborisgivenbythehorizontalaxis,thelaborallocationbetweenthesectorsisapproximatelyL1=27andL2=73.Thewagerateisapproximately$0.98.

Figure3-2

b.Usethesametypeofgraphasinproblem2btoshowthatsectoraloutputisQ1=44andQ2=90.（Thisinvolvescombiningtheproductionfunctiondiagramswiththeeconomy'sallocationoflaborinafourquadrantdiagram.Theeconomy'sPPFisintheupperrighthandcorner,asillustratedinthetext.）

c.Useagraphoflabordemands,asinparta,toshowthattheintersectionofthedemandcurvesforlaboroccursatawagerateapproximatelyequalto$0.74.Therelativedeclineinthepriceofgood2causedlabortobereallocated:

laborisdrawnoutofproductionofgood2andentersproductionofgood1（L1=62,L2=38）.Thisalsoleadstoanoutputadjustment,wherebyproductionofgood2fallsto68unitsandproductionofgood1risesto76units.

d.Withtherelativepricechangefromp2/p1=2top2/p1=1,thepriceofgood2hasfallenby50percent,whilethepriceofgood1hasstayedthesame.Wageshavefallen,butbylessthanthefallinp2（wagesfellapproximately25percent）.Thus,therealwagerelativetop2actuallyriseswhiletorealwagerelativetop1falls.Hence,todeterminethewelfareconsequencesforworkers,informationisneededabouttheirconsumptionsharesofgood1andgood2.

4.Theboxdiagrampresentedbelowisausefultoolforshowingtheeffectsofincreasingthesupplyofthemobilefactorofproduction,labor.

a.Foraneconomyproducingtwogoods,XandY,withlabordemandsreflectedbytheirmarginalrevenueproductcurves,thereisaninitialwageofw1andaninitiallaborallocationofLx=OxAandLy=OyA.Whenthesupplyoflaborincreases,therightboundaryofthisdiagramispus