2. The production function is y = N - N²/4, the nominal wage is fixed at W by contract, and there are many unemployed. Let price level be denoted by P. Show the aggregate supply function._______________

二、填空題:總體經濟部分,共五題,每題4分,答案長度請勿超過試題所顯示空格長度 1.The balanced budget multiplier is smaller in a typical IS-LM model than in a simple Keynesian model. Why?____________________

3.In a typical IS-LM-BP model, the BP curve of a small country with perfect capital mobility is usually shown as a horizontal line intersecting the vertical axis at the foreign interest rate. What is the assumption made about the exchange rate?_________________

4. Y= Ca+σ(Y-T) +I +G + X - M, X = θY*, M= βY, where Ca is the autonom spending, X export, M import, Y* foreign income, and all the Greeks indicate coefficients. Derive△ (X-M)/△Y* =___________________

5.In the year 2020, Taiwan's export growth was relatively good, and possible reasons include A) export of masks and medical supplies B) export of electronic products due to the need for remote work C) good control of Covid-19 and production is not interrupted D) some of China's export markets are lost to Taiwan due to the U.S. trade war against China. Choose one you think is the least important reason and explain why it is the least important____________________________________________

三,填空题:個體經濟部分,共四題,每題2.5分 1.There are two local labor markets in a society. Either market has no union. In equilibrium, hourly wage for both markets is $9 and the employment for market 1 and market 2 are 125 and 75, respectively. If workers in market 1 unionize instead, the wage in market 1 becomes $12 by negotiation and 25 workers go out of work (the employment becomes 100). In market 2, labor increases by 25 workers from market 1 (the employment becomes 100) and the wage decreases to $6. Given the information above, the net welfare loss to society will be__________.

2.Suppose that the demand for street parking spaces in Kaohsiung is Q= 140-p. Kaohsiung municipal government prices each street parking space at $20 (p=20) and the supply Q=50. If every demander has the same probability of finding a street parking space, the consumer surplus that all parking spaces can provide is___________.

3.A village has six residents, each of whom has acc cumulated savings of $100. Each villager can use this money either to buy a government bond that pays 15 percent interest per year or to buy a year-old goat, send it onto the common field to graze, and sell it after 1 year. The price the villager gets for the 2-year-old goat depends on the quality of the fleece it grows while grazing on the commons. That in turn depends on the animal's access to grazing, which depends on the number of goats sent to the common filed, as shown in the following table:The villagers make their investment decisions one after another, and their decisions are public. The village committee votes to auction the right to graze goats on the common field to the highest bidder. Assuming villagers can both borrow and lend at 15 percent annual interest, the right sells for at auction will be

4.Jamie's marginal utility from muffins and from doughnuts is shown in the accompanying table. Jamie has $18 in the pocket to allow her to consume muffins and/or doughnuts. The price of each mufin is $3 and the price of each doughnut is $2.Within the budget, how much does Jamie need to spend on doughnut to optimize her consumption expenditure?___________

(2) 如果妳(你)沒有買保險來預防不利事件,妳(你)的預期效用是多少?

(1) 試問妳(你)是風險趨避者、風險中立者、風險愛好者?(說明原因才予以計分)

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