18 D.失 業率和通貨膨脹之間的短期關係 The Short-Run Relationship Between the Unemployment Rate and Inflation 1.失業率和物價水準是負相關總合產出(Y)和失業率(U): 負相關總合產出(Y)和物價水準(P): 正相關Y ↑ U ↓Y ↑ P ↑U ↓ P ↑U ↑ P ↓
19 2.菲力浦曲線(The Phillips curve) 表現通貨膨脹率 和失業率之間的關係 菲利浦曲線是A.W. Phillips用英國資料導出一個結論：如果我們想要降低物價上漲率，我們必須接受較高的失業率。Notice that the percentage change in the price level is on the vertical axis, not the price level (P) itself.The theory behind the Phillips Curve is somewhat different to the theory behind the AS curve, although the insights gained from the AS/AD analysis regarding the behavior of the price level also apply to the behavior of the inflation rate.
30 Inflation and Unemployment Around the World, 1997 to 2000 UNEMPLOYMENT RATEINFLATION RATE19972000Canada9.56.6-0.33.6Australia18.104.22.168France22.214.171.124.5United Kingdom126.96.36.199.4Italy188.8.131.52.9United States184.108.40.206.6Netherlands6.2Sweden7.8-0.1Germany220.127.116.11Japan18.104.22.168Sources: “Economic Indicators,” The Economist, July 5 – 11, 1997; July 8 – 14, Reprinted by permission.
37 1. According to Classical economists, excessive unemployment does not persist in the economy because a) wages will always adjust to ensure equilibrium in the labor market. b) The labor demand does not change in the economy. c) The labor supply does not change in the economy. d) Interest rates always change to insure equilibrium in the money market.
38 2. The type of unemployment that arises during recessions is known as a) the natural rate of unemployment. b) cyclical unemployment. c) structural unemployment. d) frictional unemployment.
39 3. Classical economists believe that the aggregate supply curve is vertical because a) wages are flexible and they always change to clear the labor market. b) The labor market is always in equilibrium. c) People who are not working are those who have chosen not to work at the prevailing wage rate. d) All of the above.
40 4. Suppose the equilibrium wage rate in the labor market is $10 and the demand for labor increase. If wages are sticky, there will be a a ) surplus of labor and the wage rate declines. b) Shortage of labor and the wage rate increase. c) Shortage of labor and the wage rate stays the same. d) Surplus of labor and the wage rate increases.
41 5. Coca Cola experienced a 20% drop in its sales 5. Coca Cola experienced a 20% drop in its sales. Even though the demand for its product decreased, Coca Cola did not cut the wages of its nonunionized workers. This is an example of a) an explicit contract not to cut wages b) poor management. c) An implicit or social contract not to cut wages. d) None of the above.
42 6. Efficiency wage theory suggests that firms may hold wages above the market clearing rate because a) they believe that the productivity of workers increases with the wage rate. b) unspoken agreements between workers and firms are in place. c) It is required by law that they do so. d) Long-term contract fix wage rates for a period of one to three years.
43 7. Minimum wage laws contribute to a higher unemployment rate by a) raising wages above the market clearing level in some labor markets.b) Pushing wages below the market clearing level in some labor markets.c) Raising wages above the market clearing level in all labor markets.d) Pushing wages below the market clearing level in all labor markets.
44 8. Output and the unemployment rate are a) positively related 8. Output and the unemployment rate are a) positively related. b) Not related in the short run. c) Not related neither in the long run nor in the short run. d) Negatively related.
45 9. If aggregate supply increases and aggregate demand remains unchanged, a) there will be a positive relationship between the price level and the level of aggregate output. b) there will be a negative relationship between the price level and the level of aggregate output. c) there will be no systematic relationship between the price level and the level of aggregate output. d) the price level will remain unchanged, but aggregate output will decrease.
46 10. In the long run, the Phillips curve will be vertical at the natural rate of unemployment if a) long-run aggregate demand curve is vertical at potential GDP. b) The long-run aggregate demand curve is horizontal at the natural rate of inflation. c) The long-run aggregate supply curve is vertical at potential GDP. d) The long-run supply curve is horizontal at the natural rate of inflation.