{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Practice_exam-1

# Practice_exam-1 - Practice Exam 1 2 Math[40 pts Note...

This preview shows pages 1–3. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Practice Exam 1 2. Math [40 pts] Note: Answers are repeated to give multiple points a. Index numbers (5 pts). Given the following data for a representative market basket: Good u00 u01 u02 p00 p01 p02 A 12 15 20 2.0 1.0 3.0 B 10 10 15 1.0 3.0 4.0 C 10 15 20 2.0 3.0 4.0 11. What is the sPl(02,00) for weights u00? a. 215 b 221 c 226 d 231 12. What is the sPl(02,00) for weights u007 a. 215 b 221 c 226 d 231 13. sPl(02,00) for weights u02? a. 207 b 211 c 227 d 232 14. sPl(02,00) for weights u02? a. 207 b 211 c 227 d 232 15. wP1([00,02],{02,00})? a. 200 b 206 c 213 d 232 16. wP1([00,02],{02,00})? a. 200 b 206 c 213 d 232 WORK SPACE Given the following date: Year 2000 2002 Nominal GDP 5T I Real GDP 4.5T 20.0T l GDP deﬂator 125 | 17. What is the nominal GDP in 20027 a. 20T b 22T c 25T d. 2ST 18. What is the nominal GDP in 2002? a. 20T b 22T c 25T d. 2ST 19. What is the GDP deﬂator in 2000? a. 111 b 125 c 140 d. 150 20. What is the GDP deﬂator in 2000? a. 111 b 125 c 140 d. 150 c. Macro Model 1: [10 points] 1. Given two equation dynamic model: (1)10 =Ct+1t(2)Ct :a‘l’bYt—l with values a : 200 b : 2/3 and I0 : 900: Suppose the economy is in equilibrium initially. 21) Equilibrium Y0? : a. 3000 b. 3100 c. 3200 d. 3300 Suppose I increases from 900 to 1200 in period 1( and remains at 1200 for all subsequent periods). 22) Y1 : a. 3200 b. 3400 c. 3600 d. 3800 23) Y2 : a. 3200 b. 3400 c. 3600 d. 3800 24) Final equilibrium YOO? : a. 3933 b. 4033 c. 4133 d. 4233 11. Consider two equation model. Variables: C consumption, Y real GNP, I Investment, C government expendi— tures, T Taxes (Revenues), and a, I) known coefﬁcients Equations: (1) Y : C + I + C and (2) C : a + [9(Y — T) Given values: a : 1500 b : 3/4 I : 1175, C : 1000 and T : 1000 25) Equilibrium Y? : a. 11300 b. 1130 c. 11700 d. 1170 If I decreases from 1175 to 1075, how much would the government have to raise C to maintain the same equilibrium Y7 26)AG : a. 100 b. 200 c. 250 d. 300 If a decreases from 1400 to 1340, how much would the government have to lower T to maintain the same equilibrium Y7 27)AT : a. —40 b. —60 c. —80 d. —100 (3) Musa and Mustafa: Students must work out the balanced budget prob— lem on their own. Do not discuss it at the review session of in ofﬁce hours. Given the following model with exports and imports: Y:C+I——G+Em—Im C:a——b(Y—T) Tsz Im2rY IIIO‘I'fY Derive the multiplier for this model .ANSWER ________________ Show Derivation ...
View Full Document

{[ snackBarMessage ]}

### Page1 / 3

Practice_exam-1 - Practice Exam 1 2 Math[40 pts Note...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online