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1. You have just taken a job that requires you to move to anew city. In relocating,you face the decision of whether to buy or rent ahouse. A suitable house costs $200,000 andyou have saved enough for the downpayment. The (nominal) mortgage interest rate is 10%per year, and you can alsoearn 10% per year on savings. Mortgage interest payments are taxdeductible,interest earnings on savings are taxable, and you are in the 30% tax bracket.Interestis paid or received, and taxes are paid, on the last day of the year. Theexpectedinflation rate is 5% per year.The cost of maintaining the house is 6%of the value of the house. Assume that these expensesare also paid entirely onthe last day of the year. If the maintenance is done, the house retains
its full real value. There are no other relevant costs or expenses.
(a) What is the expectedafter-tax real interest rate on the home mortgage? What is the usercost of thehouse?
(b) If all you care about is minimizing your living expenses, at whatannual rent level wouldyou be just indifferent between buying a house andrenting a house of comparable quality?Rent is also paid on the last day of theyear.
2. Use the saving-investment diagram to analyze thefollowing effect on nationalsaving, investment, and the real interest rate.Explain your reasoning.“A large number of accessible oil deposits arediscovered, which increases the expected futuremarginal product of oil rigs andpipelines. It also causes an increase in expected future income.”
6Assume that prices and wages adjust rapidly so that themarkets for labor, goods,and assets are always in equilibrium. What is theeffect of a reduction in expected inflation onoutput, the realinterest rate, and the current price level? Assume that expectation ofinflation is not persistent and will not impact expected future output.
求各路大神解答者三道题 本人初学宏经 希望各位可以讲的仔细一点儿 先谢谢了！！！
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