02test1

02test1 - Mathematical Economics Midterm #1, October 3,...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Mathematical Economics Midterm #1, October 3, 2002 You have until 4:45 to complete this exam. Answer all five questions. Each question is worth 20 points, for a total of 100 points. Good luck! 1. Consider the vector x = 3 2 1 . Find the co-ordinates of x in the basis B = { b 1 , b 2 , b 3 } = 1 1 0 , 0 1 1 , 0 0 1 . 2. Let A = 1 6 - 7 3 1 9 - 6 4 1 3 - 8 4 . a ) What is the rank of A ? b ) Does the equation A x = b have a solution x R 4 for every b R 3 ? c ) If A x = b can be solved, how many solutions does it have? 3. The stationary distribution of the Markov employment model obeys ( q - 1) x + py = 0 (1 - q ) x - py = 0 x + y = 1 where 0 < p < 1 and 0 < q < 1. Does this system have a solution ( x,y ) 0 ? If so, is there a unique solution or multiple solutions? Finally, does the system have a non-negative
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

02test1 - Mathematical Economics Midterm #1, October 3,...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online