Tutorial 4_2011 - ECON1002 Introductory Macroeconomics S1...

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ECON1002 Introductory Macroeconomics, S1 2011 Tutorial Tasks 1 Reading Guide : Review Chapters 7 of BOF as preparation for this tutorial. You should also look over your lectures notes for Week 4. Key Concepts: Aggregate expenditure; the consumption function; short-run macroeconomic equilibrium; the 45-degree diagram; the multiplier, fiscal policy R EVIEW OF C ONCEPTUAL U NDERSTANDING These are to be attempted before the tutorial. They will not normally be covered in the tutorial, maybe, except for a quick review, time permitting. The answers are typically found in the textbook and lecture notes. 1. Obtain or construct the data representing the (real) aggregate expenditures in Australia since 2000: one place to look is http://www.rba.gov.au/statistics/tables/index.html#output_labour . Plot the data with the date on the horizontal axis. What has been the recent trend in Australia’s aggregate expenditure? 2.
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This note was uploaded on 08/18/2011 for the course ECON 1002 taught by Professor Markmelatos during the Three '10 term at University of Sydney.

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Tutorial 4_2011 - ECON1002 Introductory Macroeconomics S1...

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