test3practnoanswers - TEST 3 (Practice) Macroeconomic...

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TEST 3 (Practice) Macroeconomic Theory Please answer the following questions. Be BRIEF and only write on the space provided. No type of ±external help². You have 80 minutes to work on your test. NAME: 1. (1 point) What has happened with the world distribution of income over the last decades? 2. (1 point) What are the two basic characteristics of an idea? 3. (1 point) Is education a public good? Discuss. 4. (1 point) In the endogenous growth model discussed in class, why do researchers spend time 5. (1 point) Compare the volatility of consumption, investment, and output in the U.S. econ- omy. Why is this comparison important? 1
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A monopolist competitor i faces the following demand function for his intermediate good y i : y i = p p i ± y where y is a constant, p is the aggregate price level and p i they price he can pick for his good. Given a production function
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This note was uploaded on 05/13/2010 for the course ECON 110D taught by Professor Schmitt-grohe during the Spring '08 term at Duke.

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test3practnoanswers - TEST 3 (Practice) Macroeconomic...

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