PS1 solutions

PS1 solutions - Department of Economics Fall 2009...

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Unformatted text preview: Department of Economics Fall 2009 University of California, Berkeley Professor Olney Problem Set #1 Page � of 6 Suggested Solutions for Problem Set #1 1. (2 points total; 1 point each) From any reliable news source (online or in print), find an article published since August 1, 2009 which is relevant to any topic addressed in lecture since the semester began. Print out (or cut out) the article. Write your paragraphs for (a) and (b) using a word processing program. Double space, 1-1.25" margins, 10-12 pt font, no more than 1 page. Attach your write-up to your answer sheet. After your write-up, attach the article. a. Write one paragraph that summarizes the article you have chosen. What is the topic? What conclusions are drawn? What evidence is offered or referred to in support of the conclusions? b. Write a second paragraph that explains how your article is relevant to or connected to something that has been discussed in lecture. What is the topic from lecture? How does your article connect to that topic? Answers obviously vary. If you chose a relevant article, and wrote coherent paragraphs that answered the questions asked, you got full credit. 2 . (2.5 points total; 1 point each for parts a and b; 1/2 point for part c) Use the Economic Report of the President 2009 (ERP) at http://www.gpoaccess.gov/eop/tables09.html. Use a program such as Excel to answer the questions. a. Use Table B2 to find the annual real values of consumption (C), investment (I), government purchases (G), and net exports (NX). You will need to calculate the value of NX for the years before 1990. Notice that ERP refers to G as “Government consumption expenditures and gross investment.” Also notice that half the table is in “Sheet 1“ and the other half is in “Sheet 2.” Manipulate the spreadsheet so that you can on one page print out the annual real values for just GDP, C, I, G, and NX for 1960 to 2007. Just print out the annual data for 1960 to 2007, not the quarterly data also. Just print out the column with the year and those five columns; don’t print out the entirety of Table B2. TABLE B–2.— Real gross domestic product, 1959–2008 [Billions of chained (2000) dollars, except as noted; quarterly data at seasonally adjusted annual rates] Year or quarter Gross domestic product Personal consumption expenditures Gross private domestic investment Net exports Government consumption expenditures and gross...
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This note was uploaded on 11/24/2009 for the course ECON 100B taught by Professor Wood during the Fall '08 term at Berkeley.

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PS1 solutions - Department of Economics Fall 2009...

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