2009FALL-FINAL - ECO320L-Macroeconomic Theory Final Total...

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ECO320L-Macroeconomic Theory Final Total 100 points NAME: ............................................................. Some Remarks: 1. Books and notes should be closed. 2. You can use a calculator. Exchange of calculator is not allowed. 3. Do not forget to label axes when you draw a graph. 4. Show your calculations and derivations. Just anwers will not receive any points. Good Luck and Have a Great Holiday! 1
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Total Exam Grade: ( ......... /100pts) Multiple Choice Questions ( ......... /36pts) (3pts each) 1. The opportunity cost of money is (a) zero. (b) the inflation rate. (c) the real interest rate. (d) the nominal interest rate. 2. An open-market operation refers to 3. If an increase in the level of the money supply results in a proportionate increase in prices with no effect on any real variables, we say that a the Fisher relationship holds. b money is neutral. c money is superneutral. d money is the most preferred store of value 4. In the small open economy that we studied in the class, in response to a permanent increase in total factor productivity: (i) trade balance decreases (ii) investment increases (iii) consumption increases
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