ajaz_eco204_2009_HW_8

ajaz_eco204_2009_HW_8 - University of Toronto, Department...

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University of Toronto, Department of Economics, ECO 204 2009 2010 S. Ajaz Hussain ECO 204 2009 2010 S. Ajaz Hussain HW 8 Please help improve the course by sending me an e mail about typos or suggestions for improvements _____________________________________________________________________________________ Note: Please don’t memorize these solutions in the expectation that similar questions will appear on tests and exams. Instead, try to understand how to derive the answer as you’ll be tested on techniques and applications, not on memorization. Moreover, tests and exams will cover topics and techniques that may not be in these practice problems. You are urged to go over all lectures, class notes and HWs thoroughly. Question 1 In this question, you will practice the intertemporal consumption/savings model. Consider a 2 period economy with a single good (say, corn). Each consumer receives real income ܻ (in corn) at the beginning of ܶ respectively. The price level at ܶൌ is
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ajaz_eco204_2009_HW_8 - University of Toronto, Department...

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