2400-midterm 2014summer - York University Department of...

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York University Department of Economics AP/Econ 2400 3.0 – Intermediate Macroeconomics I Summer 2012 Midterm Exam (Version A) INSTRUCTOR: May, 2012 Professor H. Tam NAME: Please Print ________________________________________ Student Number: ________________________________________ Signature: ________________________________________ TIME ALLOWED: 2 hours INSTRUCTIONS: There are three parts of the exam. Part I consists of 10 multiple- choice questions. Each MC question is worth 3 points. Part I is worth 30 points. Answer all questions in this part by circling the appropriate choice. Circle only 1 choice per question. You do not need to show your works in this part and points are only awarded for the correct choice. Part II consists of 2 discussion/explanation questions. The total of Part II is 20 points. Part III consists of 2 problem-solving/analytical questions. The total of Part III is 50 points. Answer the questions in the space provided. If you need more space, there are extra pages at the end that you could use. Answer all questions. You need to show your explanations and works in order to earn points in Part II and Part III. Write legibly. Illegible writing and unclear explanation will not be awarded points. Make sure to enter your name, student number and sign your exam paper. Notes: In all of the questions, unless otherwise noted, assume the consumption function is insensitive to the real interest rate.
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1 Rough Work
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2 Part I (Multiple Choice) – 30 points Use the following table for questions 1 to 3. Items (In billions of dollars) Consumer non-durables 2380 Consumer durables 1890 Services 2650 New Houses 1940 Equipment and Plant investment 2560 Changes in Inventories -160 Depreciation 180 Government Consumption 2540 Government Investment 540 Transfer Payment 530 Exports 1420 Imports 1480 1. The Gross Investment according to national account for this economy is A. 6230 billion B. 4160 billion C. 4880 billion D. 4340 billion
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