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UCF | ECO 3203
Intermediate Macroeconomics
Professors
- Yang,
- Underwood-caputo
24 sample documents related to ECO 3203
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UCF ECO 3203
Homework #3 Due Date: Wednesday October 19, 2011 by 1:15 p.m. Please answer the questions in a neat and orderly fashion on separate paper. Circle your answers where appropriate. 1. Consider the following balance sheet. All figures are millions of dollars. -
UCF ECO 3203
Homework #3 Key 1. Consider the following balance sheet. All figures are millions of dollars. Assets Reserves 100 Loans 800 Bonds 200 Liabilities Deposits Net worth 1000 100 Suppose the Federal Reserve buys $100 worth of bonds from this bank. Assume the r -
UCF ECO 3203
Homework #4 Due Date Wednesday October 26, 2011 by 3 p.m. 10 points possible Please answer all questions in a neat and orderly fashion. If I cannot read it, I cannot grade it. Show your work as necessary for full credit. I do not need to see every step bu -
UCF ECO 3203
1 Measuring GDP, Unemployment, and Inflation: Chapter 2 Basic definition of GDP: the total dollar value of the newly produced final goods and services in the economy for some period of time. Which counts in GDP? Company A produces 100 computers Company -
UCF ECO 3203
C hapter 3 Basic Topics GDP measures total output and total income. Q1: What determines how much output the economy can produce? Output depends on the inputs What are the inputs? Potential output vs. actual output The production function: Measuring tot -
UCF ECO 3203
Chapter 3 Review Production function relationship between inputs and output Example: Y = AL.7 K .3 What does A measure? What is the significance of the .7 and the .3? Why is constant returns to scale a good assumption for the U.S. economy-wide producti -
UCF ECO 3203
Chapter 4 and Chapter 19 Outline Chapter 4: I will not lecture on pages 100-112. Read these on your own. Chapter 19: I will cover section 19-1 only. What do we know so far? Labor market determines real wage and employment Desired capital stock why do fi -
UCF ECO 3203
Chapter 5 The Open Economy In this chapter we revisit the loanable funds model in the context of an open economy. If there is a trade surplus what does this mean? Make note of the definitions in table 5-1 of your text. The international investor: A person -
UCF ECO 3203
Chapters 7-8 Outline Chapter 8 pages 221-238 only This section of the course focuses on the economy over the very long run: performance across many decades. Facts about the growth record Since 1890, RGDP has increased by a factor of 39. Large increase i -
UCF ECO 3203
Classwork #1 Name:_ An economy has 100 people in the population and produces two goods. Company Y produces 50 units of a good. They sell half to consumers for $20 each and half to Company X for $15 each. It cost Company Y $10 to produce each unit. They pa -
UCF ECO 3203
Classwork #2 Firm A produces 100 units of output at a cost of $10 each. Firm A sells 40 units of output to consumers at a price of $12 each, 40 units of output to Firm B at a price of $11 each, and does not sell the remaining 20 units in this time period. -
UCF ECO 3203
Classwork #3 Suppose that consumption is $800, investment is $100, and government spending is $100. The economy is closed so there are no net exports. Taxes are $50. All variables are measured in billions. Find a numerical value for: GDP: National saving: -
UCF ECO 3203
Classwork #4 Consider a small open economy: National Saving: Investment: Potential Output: World Interest Rate: G = 12 and T = 8 SN = 20+100r I = 30-100r Y* = 70 r* = 0.04 Find values for net exports and consumption. Illustrate your results on a saving-in -
UCF ECO 3203
Classwork #5 1. The production function for a country is Y = 20L0.5 K 0.5 , where Y is output, L is labor, and K is the capital stock. Suppose K has a value of 81. Suppose labor supply is Ls = 4 w 2 , where w is the real wage and Ls is labor supply. a. De -
UCF ECO 3203
Classwork #6 In the bank, deposits are 4000, reserves are 300, bonds are 1000, and loans are 2700. The required reserve ratio is 5%. 1. Set up the balance sheet for the banking system. 2. The Federal Reserve buys $100 of bonds from this bank. Illustrate t -
UCF ECO 3203
Classwork 7 Two countries (A and B) have the same production function: Y = F (L, K ) = 11 K 2 L2 . Does the production function have constant returns to scale? Explain. What is the per worker production function y=f(k)? There is no population growth or te -
UCF ECO 3203
Classwork #8 Consider the Solow growth model: a. Explain the difference between required investment and actual investment. b. Suppose the capital stock (K1) has a value of 2000, the labor force (L1) has a value of 100, the depreciation rate is 5%, and the -
UCF ECO 3203
Regarding Problem #3 for Homework #1 This was the hint I gave you: Hint: there is a mathematical rule that states the following relationship between the production function and the growth rate of the variables in the production function: Y = AK L1 growthY -
UCF ECO 3203
Practice Questions 1. GDP is the total value of _ produced during a given year within the nations borders. a. all final goods and services c. all final goods b. all goods and services d. all goods 2. a. b. c. d. Which of the following is not considered pa -
UCF ECO 3203
Midterm 2 Study Guide This is a basic guide to get you started. I would review your notes and reread the chapters as necessary. I would review Aplia problems, the homework assignments, and classwork. The format of the exam is the same as exam 1. Chapter 4 -
UCF ECO 3203
Macroeconomics Chapter 1 Introduction to Macroeconomics I. What macroeconomics is about a. The study of the structure and performance of national economies and of the policies that governments use to try to affect economic performance b. Long-run economic -
UCF ECO 3203
Macroeconomics Chapter 1 1) 2) 3) 4) Monetary Policy Unemployment Inflation GDP (growth) 1.a. Long-run growth sustainable growth 1.b. Fluctuations business cycle (short-run) Average growth rate: 2.5-3% How long will it take to double GDP at 3% growth rate -
UCF ECO 3203
Macroeconomics Chapter 5 Saving and Investment in the Open Economy Open economy: spending need doesn\'t equal production in every period Closed economy: spending has to equal production in every period Balance of payments accounts are the record of a count -
UCF ECO 3203
Fundamental Identity of Nat\'l Inc Acct Total Prod.=Total Inc=Total Expen Income-Exp. Identity Y=C+I+G+NX Private Savings Spriv=(Y+NFP-T+TR+INT)-C Government Savings Sgovt=(T-TR-INT)-G National Savings S=Spriv+Sgovt=Y+NFP-C-G National Savings S=I+CA Privat
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