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### HW1

Course: ECON 3140, Fall 2008
School: Cornell
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Word Count: 128

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1 Homework (Due September 10) 1. [page 30, 3] NQ 1 (a, b, c, d). (NQ means numerical question, AQ means analytical question, and so on). 2. [page 31, 3] NQ 2 (a, b, c). (This NQ 2 is the first of the two NQ 2 in this page. The second NQ 2 should be NQ 3. In this question, compute real GDP by the non chain-weighted method.) 3. [page 31, 3] NQ 3 (a, b). 4. [page 32, 3] AQ 1. 5. [page 33, 3] AQ 3. 6. [page 33, 1] 4....

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1 Homework (Due September 10) 1. [page 30, 3] NQ 1 (a, b, c, d). (NQ means numerical question, AQ means analytical question, and so on). 2. [page 31, 3] NQ 2 (a, b, c). (This NQ 2 is the first of the two NQ 2 in this page. The second NQ 2 should be NQ 3. In this question, compute real GDP by the non chain-weighted method.) 3. [page 31, 3] NQ 3 (a, b). 4. [page 32, 3] AQ 1. 5. [page 33, 3] AQ 3. 6. [page 33, 1] 4. 7. Compute by GDP three approaches for the following economy at year 2000. There are two final goods, FG1 and FG2, and one intermediate good, IG. IG is used as the material to produce FG1 and FG2. FG 1 is a consumption good. FG 2 is a capital good. We have the following data from year 2000: IG FG1 FG2 material 0 wage interest \$6 \$4 \$8 \$2 \$7 \$9 \$3 \$1 . Each sector earns zero profit. (ProfitRevenue-Material cost-Wage-Interest.)
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Cornell - ECON - 3140
Economics 314Suggested Solutions to HW 1 September 18, 20081[Page 30, 3, NQ 1](1) (a) Y = C + I + G + X M = 1000+250+500-30=1720. (b) N DP = GDP depreciation =Gross Investment - Net Investment=1720-(250-220)=1690. (c) Exports = Net Exports+I
Cornell - ECON - 3140
Homework 2 (Due September 17) 1. [page 5, 3] NQ 1 (a, b). 2. [page 5, 3] NQ 3 (b, c). (For b, the wage rate is the marginal product of labor. For c, you can ignore the hint but simply double capital and double labor.) 3. [page 5, 3] NQ 4 (a, b, c). 4
Cornell - ECON - 3140
Economics 314: Suggested Solutions to HW 2TA: Romita Mukherjee September 21, 20081[Page 5, 3, NQ 1](a) If real GDP=\$7 trillion, then real GDP after 10 years=(\$7 trillion)(1.025)10 =\$8.96 trillion. (b) If real GDP grows by \$0.175 trillion per y
Cornell - ECON - 3140
Homework 3 (Due September 24) 1. [page 90, 1] 1, 2, 3, 4. Questions 2-5 pertain to comparing the following 5 economies. Economy 0: K 0 50, A 2, 0. 5, 0. 9, L 0 100, n 0, s Economy 1: K 0 50, A 4, 0. 5, 0. 9, L 0 100, n 0, s from econo
Cornell - ECON - 3140
Economics 314: Suggested Solutions to HW 3TA: Romita Mukherjee September 25, 20081[Page 90, 1](1) If you double L(0), then by the formula for steady state per capita capital 1 sA k = ( n+ ) 1 , we can easily check that k is not aected by cha
Cornell - ECON - 3140
Homework 4 (Due October 15) 1. Refer to page 5, L4. (1) Explain why it is impossible to have r 1 5% and i 0 4%. (2) Explain why it is impossible to have r 1 4% and i 0 5%. (3) One can identify r in the model to the return for stocks and ide
Cornell - ECON - 3140
Economics 314: Suggested Solutions to HW 4TA: Romita Mukherjee October 16, 20081Problem 1, [Page 5, L4]it = rt 1 unit of good: renting gives 1 + rt at the end of t so 1 + rt at the start of t + 1. 1 unit of good: lending gives 1 + it at the
Cornell - ECON - 3140
Homework 5 (Due October 22) 1. Refer to case 1, Handout 2. Answer the three questions there. 2. Refer to case 2, Handout 2. Use the formula provided there to solve the optimal c 0 , c 1 . 3. Refer to case 3, Handout 2. Use the formula provided there
Cornell - ECON - 3140
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Cornell - ECON - 3140
Within and beyond the Solow model Chapters 4-5, book 1 Within the Solow model Comparing levels and growth rates of k and y under dierent s, A, L0 , and n A side point: The Malthus model The Solow model with technological progress The model pred
Cornell - ECON - 3140
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Cornell - ECON - 3140
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Cornell - ECON - 3140
ECON 314 Intermediate MacroeconomicsFall 2008 Instructor: Tao Zhu Tel: 2556336, Email: tz34@cornell.edu Office: 442 Uris Hall Office Hours: W 12:30-2:30 and by appointment Teaching Assistant: Romita Mukherjee Email: rm356@cornell.edu, Office: 453 Ur
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Econ 319, Fall 2008TA: Simon KwokHandout 1Dierentiation: 1. Compute the derivatives y 0 . (a) y = 3x7 + 5x (b) y = x2 8x + 4 8x + 4)(c) y = (3x7 + 5x)(x2 (d) y =3x7 +5x x2 8x+4(e) y = (3x7 + 5x)10 (f) y =p x x2 8x+4 x2 8x+4(g) y = e(h)
Cornell - ECON - 3190
Econ 319, Fall 2008TA: Simon KwokHandout 21. A roulette wheel has 38 numbers: 0; 00; 1; 2; 3; :; 36: In addition, 0 and 00 are green, and from 1 to 36, half are black and half are red (alternating between the two colors). Suppose we spin the whe
Cornell - ECON - 3190
Econ 319, Fall 2008TA: Simon KwokHandout 31. Two students A and B are both registered for a certain course. Assume that student A attends class 90% of the time, student B attends class 50% of the time, and the absences of the two students are in
Cornell - ECON - 3190
Econ 319, Fall 2008TA: Simon KwokHandout 41. The inhabitants of an island tell the truth one third of the time, and lie with probability 2/3. On an occasion, after one of them made a statement, another islander stepped forward and declared the s
Cornell - ECON - 3190
Econ 319, Fall 2008TA: Simon KwokHandout 51. Suppose the probability density function (pdf) of the joint distribution of X and Y is given by: C (2x + 3y) ; 0 x; y 1 f (x; y) = 0; otherwise: (a) Find the value of C: (b) Find the marginal distribu
Cornell - ECON - 3190
Econ 319, Fall 2008TA: Simon KwokHandout 61. Recall that the probability function obtained in handout 4, question 4 is 8 &gt; 0:4 if x = 2 &gt; &gt; &gt; 0:1 if x = 0 &lt; 0:3 if x = 1 : f (x) = &gt; &gt; 0:2 if x = 4 &gt; &gt; : 0 otherwise Find (a) E(X); (b) V ar(X): 2.
Cornell - ECON - 3190
Econ 319, Fall 2008TA: Simon KwokHandout 71. Suppose that the joint pdf of X and Y is given by: f (x; y) = (a) (b) (c) (d) Find Find Find Find 8xy 0 0 &lt; y &lt; x &lt; 1; otherwise:the marginal density of X: the conditional density of Y jX: E(Y jX):
Cornell - ECON - 3190
Practice Problems for Prelim 1 Econ 319 - Introduction to Probability and Statistics Cornell University Fall 2008 Prof. Molinari1. Suppose that a box contains one blue card and four red cards, which are labeled A, B, C, and D. Suppose also that two
Cornell - ECON - 3190
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GARCIACOMPANY BalanceSheet August31,2008 Assets Cash. \$10,400 Accountsreceivable. 9,800 Officesupplies.. 700 Prepaidinsurance. 2,500 Officeequipment. Less:Accum.depreciationofficeequipment.. 9,500 Totalassets. \$32,900 LiabilitiesandOwnersEquity
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