ps9 - Economics 202 Name: _______________ Principles of...

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Unformatted text preview: Economics 202 Name: _______________ Principles of Macroeconomics Professor Melick Problem Set #9 Due Wednesday April 23, 2008 1. Numerical Problem #2 from Abel and Bernanke Chapter 11, found on pages 432-433. 2. Numerical Problem #3 from Abel and Bernanke Chapter 11, found on page 425. 3. Using the attached graphs and the assumption of a Keynesian economy, illustrate and explain the short-run and long-run effect of an increase in consumer confidence that leads consumers to expect that their incomes will be higher in the future. In each of the four graphs show only three points, an initial general equilibrium before the change in consumer confidence (labeled point A), the short-run equilibrium after the change in consumer confidence but before any change in the price level (labeled point B), and the new long-run general equilibrium (labeled point C). 4. Prepare a chart of the M2 money multiplier using monthly data from January 2000 through the latest available period. Use seasonally adjusted data and make use of the official data prepared by the Federal Reserve Board of Governors. (These data are available in a convenient form from the Federal Reserve Bank of St. Louis (the Federal Reserve Bank of St....
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ps9 - Economics 202 Name: _______________ Principles of...

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