解释下面每一种发展会如何影响货币供给、货币需求和利率。用图形说明你的答案。
(1)美联储的债券交易商在公开市场活动中购买债券。
(2)信用卡可获得性的提高减少了人们持有的现金。
(3)中央银行降低了法定准备金。
(4)居民决定把更多钱用于节日购物。
(1)美联储的债券交易商在公开市场活动中购买债券。
(2)信用卡可获得性的提高减少了人们持有的现金。
(3)中央银行降低了法定准备金。
(4)居民决定把更多钱用于节日购物。
解释下列每一个陈述正确的原因。讨论货币与财政政策在每一种特例下的影响。
a.如果投资并不取决于利率,IS曲线是垂直的。
b.如果货币需求并不取决于利率,LM曲线是垂直的。
c.如果货币需求并不取决于收入,LM曲线是水平的。
d.如果货币需求对利率极其敏感,LM曲线是水平的。
Explain why each of the following statements is true. Discuss the impact of monetary and fiscal policy in each of these special cases.
a.If investment does not depend on the interest rate, the IS curve is vertical.
b.If money demand does not depend on the interest rate, the LM curve is vertical.
c.If money demand does not depend on income, the LM curve is horizontal.
d.If money demand is extremely sensitive to the interest rate, the LM curve is horizontal.
应用下面的图展示出母国货币供给的暂时增加对该国利率和汇率的影响。(所有名义变量都用母国的美元来表示。)请对你所给出的图表进行解释。
经济处于充分就业和通货膨胀的状态时,下面说法正确的是()。
A.在短期内降低政府支出会使经济的通货膨胀率一直持续下去
B.在短期内降低名义货币供给的增长会降低通货膨胀率但不会影响产量
C.在短期内降低名义货币供给的增长会降低通货膨胀率和产量水平
D.在短期内降低政府支出会降低通货膨胀率但不影响产量
a.这种变动如何影响货币需求?
b.货币流通速度会发生什么变动?
c.如果美联储使货币供给保持不变。短期和长期产出与物价将发生什么变动?
d.对这种管制变动,美联储的反应应该是保持货币供给不变吗?为什么是或为什么不是?
Suppose that a change in government regulations allows banks to start paying interest on checking accounts. Recall that the money stock is the sum of currency and demand deposits, including checking accounts, so this regulatory change makes holding money more attractive.
a.How does this change affect the demand for money?
b.What happens to the velocity of money?
c.If the Fed keeps the money supply constant, what will happen to output and prices in the short run and in the long run?
d.Should the Fed keep the money supply constant in response to this regulatory change? Why or why not?
假没一经济社会的消费函数C=600+0.8Y,投资函数I=400-50r,政府购买G=200,货币需求函数Md/P=250+0.5Y-125r,货币供给Ms=1250(单位均为亿美元,价格水平P=1)。试求:
所谓货币流通速度V是指实际GNP与实际货币持有量的比率,V=Y/(M/P)。请利用等式(14-4)推导货币流通速度的表达式,并解释货币流通速度是如何随R和Y的变化而变动的。(提示:产出变化对v的影响取决于相对于实际产出的货币总需求弹性,经济学家认为该弹性小于1。)货币流通速度与汇率之间存在什么联系?
The velocity of money,V,is defined as the ratio of real GNP to real money holdings,V=Y/(M/P)in this chapter's notation.Use equation(14-4)to derive an expression for velocity and explain how velocity varies with changes in R and in Y.(Hint:The effect of output changes on V depends on the elasticity of aggregate money demand with respect to real output,which economists believe to be less than unity.)What is the relationship between velocity and the exchange rate?