Tutorial_1 Macro

Tutorial_1 Macro - ECO2004S TUTORIAL 1 CHAPTER: 3 For...

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ECO2004S TUTORIAL 1 CHAPTER: 3 For Hand-in: Questions 1-4 Note on Tutorials: NNB 1. Tutorials must be handed into your tutor’s box by 13:00 on the Monday preceding tutorials . Late tutorials will not be marked (you will receive zero). 2. Tutorials contain specified questions that are required to be handed in and some that are not. Those questions that are not for hand-in contain material that is examinable. 3. Solutions will only be posted on VULA for tutorial questions that are not covered in tutorials. 4. ALL tutorials must be handed in for DP purposes (i.e. Even if you did not hand your tutorial in, and you received zero, you will have to complete that tutorial and hand it in for DP purposes). 5. You must attend 8 out of 10 tutorials for DP . It is highly recommended that you attend 100% of tutorials. 6. The required tutorials must be fully attempted. Incomplete tutorials will receive zero and will be insufficient for DP purposes. (e.g. If you only hand in 3 out of 4 questions, you will receive zero regardless of which question is marked AND you will have to complete the tutorial for DP purposes). 7. A portion of each tutorial will be marked and count towards you final mark for the course. 8. A plagiarism declaration cover sheet (available from the Tutorials tab on VULA) must be attached to every tutorial.
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Question 1 (Required for Hand-in) a. Algebraically define and explain the following variables. 1. C (1) 2. I (1) 3. G (1) 4. T (1) 5. X (1) 6. M (1) 7. Z (1) 8. Y (1) b. Explain all the variables in the consumption function. (2) c. Why must Output (Y) equal Demand (Z) in equilibrium? Max 20 words. (1) d. What would happen if Output was less than Demand? Max 40 words. (3) e. What would happen if Demand was less than Output? Max 40 words. (3)
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Tutorial_1 Macro - ECO2004S TUTORIAL 1 CHAPTER: 3 For...

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