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quiz 4.A solutions

# quiz 4.A solutions - Quiz 4 ECON 010 Fall 2011 Total Score...

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Quiz 4 ECON 010, Fall 2011 12/05/11 Total Score NAME:_________________________ RI’s NAME:__________________________ Recitation Section/ Time:______________________ INSTRUCTIONS Please put your name on BOTH pages. There are a total of 3 questions. There are 20 total points. Plan your time accordingly. Read all questions carefully. ONLY four function calculators are allowed. Write legibly and label any diagrams appropriately and thoroughly. This quiz is given under the terms of Penn’s Code of Academic Integrity USEFUL FORMULAS Autonomous Expenditure Multiplier: 1 1 - ( MPC + MPI - MPM ) ; Tax Multiplier: - MPC 1 - ( MPC + MPI - MPM ) ; External Injection Multiplier: 1 RR ; Internal Injection Multiplier: 1 RR - 1 ( RR = reserve requirement ratio ). 1

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NAME: RI’s NAME: QUESTION 1 (6 points, 2 points each) 1. If the real interest rate is 4% and there is a inflation 3. Answer the question below using the following data: rate of 2%, what is the approximate nominal interest rate? Employment: 1,140,000 a. 2 percent Working-Age Population: 1,500,000 b. 4 percent Labor Force Participation Rate: 80% c. 6 percent d. 8 percent
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