finalexam2008

finalexam2008 - Name: Econ 102 Macroeconomic Theory Winter...

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Name: TA Section: TA Name: Econ 102 Mark L.J. Wright Macroeconomic Theory mlwright@econ.ucla.edu Winter 2008 Bunche 9284 Final Exam Date: Friday 21st March, 2007 Instructions 1. Write your name and TA Section on the top of front page. 2. Answer each part of the exam in the space provided. If you need more space, you may answer on the reverse side of any of the exam pages. Please clearly mark the section of the exam your answer corresponds to. 3. Write your answers in permanent ink. Answers submitted in pencil, or in erasable ink, are not eligible for regrade requests. 4. You have one hundred and eighty (180) minutes to answer this exam. 5. The exam has nineteen (19) pages. Please check that you have all pages. 6. There are one hundred and eighty (180) points worth of questions. Answer all questions. 8. No calculators are to be used on the exam. 9. You may not talk to any other student while completing the exam. Exam answers are to be completed, and handed in, individually. 10. The TA²s will be available to answer questions during the ³rst ten minutes of the exam. If you are confused about a question on the exam after the ³rst ten minutes, explain why you are confused in your answer, state what you think is necessary to resolve your confusion, and then proceed to answer the question accordingly. 1
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Part A (Short Answer Questions) (54 points total) Evaluate each of the following statements. State whether they are true, false or uncertain, and give a short explanation of your reasoning. No points will be awarded without the correct explanation. 1. If the government were to legalize the production and sale of cocaine, the level of GDP per capita would increase. (6 points) 2
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Part A (Short Answer Questions) . .. Continued 2. Assume that people only value (and care about) the goods they can purchase in the market. Then if a Laspeyres index for real GDP is less than one, we can conclude with absolute certainty that living standards in this country have fallen. (6 points) 3
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Part A (Short Answer Questions) . .. Continued 3. According to the Solow-Swan growth model, if two countries are identical in every respect except that one has a higher population growth rate n , that country will have lower levels of per capita output and welfare, and a lower rate of output growth. (6 points) 4
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Part A (Short Answer Questions) . .. Continued
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This note was uploaded on 04/03/2009 for the course ECON 102 taught by Professor Serra during the Winter '08 term at UCLA.

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finalexam2008 - Name: Econ 102 Macroeconomic Theory Winter...

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