Quiz 1_F15_Info - Econ 305 INFORMATION FOR QUIZ 1 Time and...

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Econ 305 INFORMATION FOR QUIZ 1 Time and Place: In class, Tuesday September 22, 2015. Duration: 25 minutes . You may be time constrained, so know the material well. Material -- " Section I: Money ". Problems related to: (i) the price level, inflation, value of money, rate of return on money; and/or (ii) the Quantity Theory of Money and money supply policy. Hint: This quiz will involve questions about the rate of return on money and the Quantity Theory. Exam type: Long analytical problem . See previous quizzes on the next pages; also, see problems 3 - 5 in Practice Assignment 1. The problem will be developed in several stages . Try to think of combinations of these questions which provides an interesting analysis; for example, try to anticipate a quiz question that analyzes the material in the "Inflation Propaganda Film" . Calculator: Yes, and financial calculators are allowed. No cell phones and computers (or anything that communicates or holds text); they can’t be used as calculators. Formulas. No notes allowed. Marking: The quiz is out of 10 marks. Show your work neatly. You’ll need a calculator to find numerical answers for full marks. However, if you explain what you are doing neatly you will get almost full marks even if you foul up on a calculation error. (If your numerical answers are clearly improbable, marks will be deducted.) Extra Office Hours: Monday Sept 21, 3:00-4:50pm. Please drop by, introduce yourself, and ask a question. Warning -- This material is too challenging to be quickly crammed. You need to study it a few days before the quiz, and let it sink in, before studying it for a second time just before the quiz. It is helpful to have a study mate. The payoff: Understanding this material gives you the basics of monetary value theory at a higher level that many monetary bloggers.
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Econ 305 Quiz 1, Spring 2015 When velocity and output are constant over time, the basic Quantity Theory gives the famous result that inflation rate equals the growth rate of the money supply.
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