Reviewexam2 - AECO 301 Intermediate Macroeconomics Spring...

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AECO 301 Intermediate Macroeconomics Spring 2010 Instructor: Yangyi Shan Review Sheet for Midterm II When: March 25th Where: in class 1. Format: closed-book, closed-notes. 2. You may use simple calculators. Graphing calculators are not allowed. 3. 20 multiple-choice questions. 2 short-answer questions. Review Questions: covering chapter 4, 6 Remark: I tried to be as inclusive as possible, but the review sheet may have some unintentional omissions. Topics not mentioned in this sheet may be on the exam. 1. Obviously, you should be able to do problems like the ones on homework assignments and in class. Chapter 4 2. Suppose that a consumer lives for two periods called the present and the future. The consumer knows her current and future real income. State the consumer’s budget constraint. Graph the consumer’s budget constraint and explain how the important parameters (current income, future income, wealth, and the real interest rate) determine the location and slope of the budget constraint on the graph. Explain the consumer’s
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Reviewexam2 - AECO 301 Intermediate Macroeconomics Spring...

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