review2 - For Exam #2 Coverage: Chapters 7 9, 12. Format:...

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1 For Exam #2 • Coverage: Chapters 7 – 9, 12. •Fo rm a t : ¾ 10 multiple choice questions. ¾ 1 long question on the IS – LM Model or IS – LM & AD – AS Models. ¾ 1 long question on the DAD – SAS Model. For Exam #2 •T im e : ¾ Exam will start as close to 3:40 p.m. as possible. ¾ The exam will finish promptly at 5:00 p.m. • Exam Packet is completely self-contained. ¾ No blue books are needed. • No books, notes, or electronic devices. ¾ Foreign language dictionaries MUST be examined by me. For Exam #2 • You will need a set of colored pens or pencils. ¾ Black or pencil. ¾ Red ¾ Blue ¾ Green Point of Clarification
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2 Topics for the Exam • Three models: ¾ The IS – LM – FE model. ¾ The AD – AS – LRAS model. ¾ The DAD – SRAS – LRAS model. Topics for the Exam • Other topics: ¾ Money and asset markets. ¾ Business cycles. ¾ The Phillips Curve. ¾ Costs and benefits of unemployment and inflation. TheIS–LM–FEModel • Focuses on output and the real interest rate. ¾ The IS curve represents equilibrium in the goods market. ¾ The LM curve represents equilibrium in the money market. ¾
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review2 - For Exam #2 Coverage: Chapters 7 9, 12. Format:...

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