2019MacroFinal.pdf - YOUR NAME_ Columbia University...

This preview shows page 1 - 2 out of 5 pages.

YOUR NAME__________________________________Columbia University Intermediate Macroeconomics EconUN3213,Final Exam Fall 2019 (A.D.), Professor XavierNOTE:YOU ARE NOT ALLOWED TO USE CALCULATORS!!!!Question 1.Short Speeches.a.In class we showed that global income inequalities and global povertyhave decreased dramatically since 1975. But, at the same time, we arewitnessing protests in many countries where demonstrators claim thatincome inequalities in their countries have increased over the last fewdecades. Are the protesters wrong? Is the evidence shown in classwrong? Is the evidence shown in class compatible with the protesters’claims? Explain your answer intuitively.b.What is the “productivity slowdown” in the United States? Provide threealternative explanations for this statistical phenomenon.c.“The fact that ideas are non-rival implies that, if there is perfectcompetition (in the sense that the price converges to marginal costIMMEDIATELY after a good is invented), nobody will invent for profit”.Comment this statement.d.Which one of the following three economies experiences largerproductivity growth (?:

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 5 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
NoProfessor

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture