Homework2Spring2011 - Name _ ECON 2105 Exam 2: Thursday,...

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Name ___________________________ HW #2 Due: Thurs. March 17 ECON 2105 Spring 2011 Exam 2: Thursday, March 24, 2011 Professor Hartman 1a. The ________________________school of macroeconomic thought stressed the importance of changes in the money supply growth rate in determining business cycle fluctuations. 1b. The ________________________school of macroeconomic thought assumed that government policy implemented to improve the macroeconomy is at best ineffective. 1c. The ________________________school of macroeconomic thought argued in favor of fiscal policy and monetary policy to stimulate growth during recessions and depressions. 1d. A trade deficit occurs when ___________________ are greater than ___________________. 2a. Suppose the CPI in the economy of Imaginaryland in the year 2008 equaled 400. If the CPI in Imaginaryland increased to 420 in 2009, what was the inflation rate in Imaginaryland for 2009? 2b. Suppose that the economy in Macroland produces only xylophones and yarn spools.
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Homework2Spring2011 - Name _ ECON 2105 Exam 2: Thursday,...

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