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Macroeconomics Problem Set 8
1. The following equations describe a Classical economy.
Production function: y = 10√ N K Capital stock: K = 100
Labor supply: Ns= 64(W P )2 Money supply: M = 1, 000 Income velocity of money: V = 2 Government purchase: G = 4 Saving function: S(r) = 40r
Investment function: I(r) = 6 − 60r What are the equilibrium levels of y, N, WP , W, S, I, and r?
2. 解釋名詞
(a) Gross domestic product (b) 貨幣中立性
(c) 古典二分法 (d) 貨幣超中立性
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