科目：總體經濟學
教授：陳虹如
試別：期中考
by neverneverfu
試題 :
Total score = 100
For each question,write down all the processes/steps needed to get the answers.
1.(18) The following date belongs to Econoland,an open economy.
Year=2000
Values measured in Econoland dollars,at current prices
Consumption = 3000
Gross investment = 1500
Net exports= - 500
Export = 1000
Government expenditure = 200
Government revenues ( taxes ) = 100
Capital stock = 9,000
a.what was the government budget deficit in 2000?
b.what was the gross domestic product in 2000?
c.what was the disposable in income in 2000?
d.what was the value of domestic private saving in 2000?
e.what was the value of imports in 2000?
f.Economists estimate that in the year 2000, 10% of the capital stock will
depreciate. What will be the capital stock in 2001?
2.(7) Assume that Chinese real GDP per capita is approximately 12.5% of real
GDP per capita in the United States.If Chinese real GDP per capital grows at
7% per year and U.S. real GDP per capita grows at 2% annually,how many years
will it take for China to catch up with the United States?
3.(25) Consider an economy that produces and consumes bread and milk.In the
following table are data for two different years.
Year 1999 Year 2000
──────────────────────────────────
Price of milk $10 $9
Price of a lot of bread $2 $4
Quantity of milk 10 15
Quantity of loaves of bread 100 200
──────────────────────────────────
(a)(4) Using as 1999 as the base year,compute the real GDP for every year.
(b)(4) Using 2000 as the base year,compute the real GDP for every year.
(c)(8) Compute chain weighted GDP for 2000 if GDP in 1999 = 100.
(d)(9) Using 1999 as the base year,compute GDP deflator in 2000.What are the
weight for milk and bread?How much have prices risen between year 1999
and year 2000?
4.(25)Suppose that labor supply is given by the expression
W
L^s = 2──(1-τ)
P
Where W is the nominal wage paid by the firm, P is the price level and τ is
the tax rate.Suppose further that output is produced by profit maximizing
firms from the Technology:
Y = 2L
(a)(5) Find an expression for the labor demand curve.
(b)(5) Draw the graph for labor market.Find an expression for the equilibrium
labor supply and real wage rate as function of the tax rate.
(c)(5) What is the tax revenue?
(d)(5) What is the tax rate in this economy that maximizes tax revenues?
What is the maximal tax revenue?
(e)(5) Draw a graph of tax revenue as a function of the tax rate.Clearly
label the graph.What is the name of the economist who invented this
curve?
5.(25) Assume that country B has the Cobb-Douglas type of production function
Y = AK^αL^β
(a)(5) Show that the production function exhibits increasing-returns-to-scale
ifα+β>1.
(b)(10)The economic profit is defined as total revenues-total costs.Show that
the economic profit is zero if the production function were constant-
returns-to-scale.
(c)(10)Assume country C has the same type production function as country B .
Furthermore,the parameter values of A,α and β are all the same in
these two countries.However,the GDP per capita (Y/L) in country B is
3 times higher that the GDP per capita in country C.What is the ratio
of the real wage rate in country B to the real wage rate in country C,
(W/P)_B
──── ?
(W/P)_C
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∮完卷∮
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