Tutorial 3 - NATIONAL UNIVERSITY OF SINGAPORE Department of...

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Macroeconomics
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Chapter 15D / Exercise 1
Macroeconomics
Roger A. Arnold
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NATIONAL UNIVERSITY OF SINGAPORE Department of Economics EC3102 Macroeconomic Analysis II-Tutorial 3Instructor: Vu Thanh Hai (Bethel) Multiple-Choice Questions: (Tutors will NOT go through the MCQs. They are for you to review. I will send solutions for MCQs) 1) The price setting equation is represented by the following: P = (1+m)W. When there is perfect competition, we know that m will equal A) W. B) P. C) 0. D) W/P. E) none of the above
2) The natural level of output is the level of output that occurs when
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Macroeconomics
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Chapter 15D / Exercise 1
Macroeconomics
Roger A. Arnold
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