經濟學 » 2003秋季課程：總體經濟學原理
經濟學 » 2003秋季課程：總體經濟學原理
審定：衛忠欣(Jong-Shin Wei)
審定簡介：
文藻外語學院國際企業學系系主任
美國普度大學經濟學博士。
課程中譯計劃審定老師。
翻譯：吳玫靜(簡介並寄信)
編輯：朱學恒(簡介並寄信)
PART I – TRUE/ FALSE/ UNCERTAIN (4 points each) 1. Like expansionary monetary policy, expansionary fiscal policy returns output in the medium run to its natural level, and increases prices. Therefore, fiscal policy is also neutral. 2. If investment is completely insensitive to the interest rate (i.e. in the Investment function I = aY – bi, b is equal to zero), then the AD curve will be vertical. 3. A politician faced with a steeper AS curve is more likely to embark on a given disinflation program than one faced with a flatter AS curve (assume that the steeper slope is due to a higher sensitivity of nominal wages to the unemployment rate). 4. Money cannot be neutral in the short-run – the neutrality of money is exclusively a medium run phenomenon. PART II – IS/ LM and AS/ AD – A special case (10 points each) 1. Consider the following diagram for the money market i Money Demand i* Money M/ P Supply Note carefully what this means. Money demand is completely unresponsive to the interest rate if interest rate falls below i*. In other words, the interest rate must ordinarily fall in order to convince people to hold more money, but once it has fallen to i*, no further drop is required for individuals to hold more money, regardless of what their income level is. They will be willing to hold any amount of money at this interest rate. Derive the LM curve graphically for this economy (i.e. consider changes in Y and what it does to the Money Demand function, and translate this information into (i, Y) space; show both the money market diagram and the IS-LM diagram when you do this). Explain intuitively its shape. (Hint : Changes in Y will NOT shift the entire money demand curve up) 2. Suppose the IS curve has the usual negative slope. Derive graphically the AD curve in this economy (ie, consider changes in P and how it affects the IS-LM diagram and translate this information into a diagram in (Y,P) space; show both the IS-LM diagram and the AS
審定：衛忠欣(Jong-Shin Wei)
審定簡介：
文藻外語學院國際企業學系系主任
美國普度大學經濟學博士。
課程中譯計劃審定老師。
翻譯：吳玫靜(簡介並寄信)
編輯：朱學恒(簡介並寄信)
PART I – TRUE/ FALSE/ UNCERTAIN (4 points each) 1. Like expansionary monetary policy, expansionary fiscal policy returns output in the medium run to its natural level, and increases prices. Therefore, fiscal policy is also neutral. 2. If investment is completely insensitive to the interest rate (i.e. in the Investment function I = aY – bi, b is equal to zero), then the AD curve will be vertical. 3. A politician faced with a steeper AS curve is more likely to embark on a given disinflation program than one faced with a flatter AS curve (assume that the steeper slope is due to a higher sensitivity of nominal wages to the unemployment rate). 4. Money cannot be neutral in the short-run – the neutrality of money is exclusively a medium run phenomenon. PART II – IS/ LM and AS/ AD – A special case (10 points each) 1. Consider the following diagram for the money market i Money Demand i* Money M/ P Supply Note carefully what this means. Money demand is completely unresponsive to the interest rate if interest rate falls below i*. In other words, the interest rate must ordinarily fall in order to convince people to hold more money, but once it has fallen to i*, no further drop is required for individuals to hold more money, regardless of what their income level is. They will be willing to hold any amount of money at this interest rate. Derive the LM curve graphically for this economy (i.e. consider changes in Y and what it does to the Money Demand function, and translate this information into (i, Y) space; show both the money market diagram and the IS-LM diagram when you do this). Explain intuitively its shape. (Hint : Changes in Y will NOT shift the entire money demand curve up) 2. Suppose the IS curve has the usual negative slope. Derive graphically the AD curve in this economy (ie, consider changes in P and how it affects the IS-LM diagram and translate this information into a diagram in (Y,P) space; show both the IS-LM diagram and the AS
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