AP宏观经济学真题解析

下面小编就AP宏观经济学真题解析（一）来给考生们详细说明

Assume that the United States economy is operating at full employment.

(a) Using a correctly labeled graph of the long-run aggregate supply, short-run aggregate supply, and aggregate demand, show each of the following.

(i) Current price level, labeled PL1

(ii) Current output level, labeled Y1

(b) Assume that personal savings in the United States increase. Using a correctly labeled graph of the loanable funds market, show the impact of the increase in personal savings on the real interest rate.

(c) Based on the real interest rate change identified in part (b),

(i) will interest-sensitive expenditures increase, decrease, or remain unchanged?

(ii) what will happen to the rate of economic growth? Explain.。

(d) Assume that the real interest rate of the euro zone increases relative to the real interest rate of the United States. Draw a correctly labeled graph of the foreign exchange market for the euro and show the impact of the change in the real interest rate in the euro zone on each of the following.

(i) Demand for the euro. Explain.

(ii) Value of the euro relative to the United States dollar

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(e) Assume that the United States current account balance is zero. Based on the change in the value of the euro identified in part (d)(ii), will the United States current account balance now be in surplus, be in deficit, or remain at zero?

(a)

此题考察的是总供给-总需求模型的概念。X轴为real GDP，Y轴为price level，短期总供给曲线SRAS与总需求曲线AF相交即为短期均衡水平，分别对应PL1以及Y1。因为full employment，所以长期而言，real GDP的价格水平弹性应该为0，即价格水平的变动并不会带来real GDP的变动，所以为垂直X轴的直线，并且经过短期均衡点，因为短期均衡水平即为长期均衡水平。

(b)

此题考察的重点是货币市场。对于贷款市场而言，需求即为贷款需求，而贷款供给即为savings。作图时X轴为贷款数量，而Y轴为利率水平。因为savings增加，所以贷款供给增多，S线右移，产生新的均衡利率，此时的均衡利率降低。

(c. i) 既然是interest-sensitive的支出，所以当r降低时，相应的expenditures会有变化。因为r降低会增加投资水平，所以相应的支出会增多。

(c. ii) 因为r降低会增大投资支出，所以会增强capital formation，进而加快经济增长速度。

(d)

题目要求分析对euro的需求，因此X轴为euro的数量，纵轴为euro的价格，即dollar/euro。euro的利率水平相对上涨时，会将投资吸引到euro上，这样可以因为euro较高的资本回报而获利，所以对euro的需求会增多，进而使euro相对升值。

(e) 因为euro相对升值，所以dollar相对贬值，可以刺激出口，进而加大经常账户盈余水平。

以上就是为大家提供的AP宏观经济学真题解析（一），希望能给AP考生们带来帮助。

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