Econ 471/571
Answer Key for Midterm 2A
Spring 2013
Part I: (22 points total) The Government Budget Constraint: Illustrations
This time it is Oregon that secedes from the U.S.A. and forms an independent country. Oregon
establishes the Central Bank of Orego
EC 471/571
Spring 2011
Homework #5
Description. This homework covers the the last two pages of The Government Budget
Constraint (reading #2 in the packet), Keynesian consumption function as described in
"Consumption Theory and Fiscal Policy" (reading #4 i
Economics 471/571
Spring 2013
Homework #6
Description:
This homework covers the empirical consumption function, Fisher's theory of
intertemporal choice, and the life-cycle hypothesis. The homework lays the
groundwork for resolving the apparent contraducti
8 Sp 2013 Homework #4, due Sunday, April 28, by 6:00 PM
Description This homework covers finishes our work on the government budget constraint and its relationship to
inflation and indebtedness. It also introduces the next topic, the Keynesian consumption
Homework #2, due Sunday, April 14 by 6:00 PM
Description This homework includes questions on the AD/AS model, the effects of debt-financed, taxfinanced, and money-financed government spending in the model, and the government
budget constraint.
Instruction
2013 Homework #7, due Sunday, May 19 by 6:00 PM
Description This homework covers reading related to government debt and deficits, and an
introduction to Ricardian equivalence.
Instructions For the reading checks, you will want to consult chapter 15 of Man
Econ 471/571
Spring 2013
Worksheet on Debt, Deficits, and Ricardian Equivalence
Part I
Part I: Ricardian Equivalence / Baseline Scenario
In this section of the worksheet, we are expanding Fishers simple model of a households
intertemporal (over time) choi
2013 Homework #9, due Tuesday, June 4 by 6:00 PM
Description This homework covers exceptions to Ricardian Equivalence, including
intergenerational transfers, bequests, and borrowing constraints. It also covers
seignorage.
Instructions You will find the wo
Econ 471/571
Spring 2013
Worksheet on Debt, Deficits, and Ricardian Equivalence
Part II
The tables referenced in this worksheet (Tables 1 - 9), four of which originated in the previous
Ricardian worksheet, appear as a group at the end of this worksheet.
P
Sp 2013 Homework #8, due Tuesday, May 28 by 6:00 PM
Description: This homework covers additional material related to myopic and mobile households.
Question 1 (7.2 points) Moderate Myopia
This problem treats the case of moderate myopia, a less extreme form
Jo Anna Gray
Econ 471/571
Seignorage Worksheet
1. Define seignorage. How is the tax collected? Who pays it?
2. Does an increase in the inflation rate (caused by an increase in the rate of growth of the money supply) cause an
increase in the real value of
LECTURE
SUPPLEMENT
11-1 The Key Features of the ISLM Model
The ISLM analysis is simply a more detailed look at what lies behind aggregate demand. It
decomposes aggregate demand into its two constituent marketsmoney and goods. The
money market is summarize
TABLE B7 9. Federal receipts, outlays, surplus or decit, and debt, as percent of gross
domestic product, scal years 19402013
[Percent scal years]
Surplus Federal debt(end of period)
. . or
Fiscal year or period 390911313 National decit
- Tom defense 1-)
2014 Day 4
Econ 471/571
q
q
q
From IS/LM to AD/AS
q
Aggregate Demand Curve
q
Aggregate Supply
Policy in the AD/AS Model
Homework #2
IS/LM System
Determines Y for a Given Price Level
n
IS Curve: Goods market Equilibrium
Y = [multiK][C mpcT + I + G br]
n
LM
EC 471/571 Spring 2014
Homework #1, due Monday, April 7 by 7:00 PM
Do not turn in this worksheet. Answers must be submitted electronically through Blackboard.
Description The purpose of this homework is to insure that you are reasonably comfortable with t
2014 Day 3
Econ 471/571
Preliminaries
q
Homework #1
q
Aggregate Demand
q
Preliminaries Reading
n
Reading for Thursday and Homework 2
Finish
Baseline Macroeconomic Theory
Gordon, Chapter 10
pp. 290-292 (Nominal and Real Interest Rates)
n p. 294 (Interest
Your Name: _
Economics 471/571
Spring 2011
Final Examination
Take 10 minutes to read through the entire exam and organize your approach to the exam before beginning.
You will then have 110 minutes to complete the exam. The questions on the exam are worth
Econ 471/571 / Spring 2013
Answer Key for Midterm Exam 1
Part I. IS/LM, the Aggregate Demand Curve, and the AD/AS Model (24points total)
1. (7 points) Using our classroom IS/LM model (summarized on the first page of the exam), show the
graphical derivatio
Your Name _
Econ 471/571
Spring 2011
Midterm Examination #1 V1
Take 5 minutes to look through the exam. You will then have 75 minutes in which to complete
the exam. The exam is worth a total of 75 points. That works out to one minute per point.
Allocate y
Your Name: _
Econ 471/571
Midterm Exam 2 V1
Spring 2011
Instructions: There are 80 points on the exam. You have 80 minutes in which to complete the exam.
Allocate your time accordingly.
At the end of the exam, you will find a template that you may wish to
Your Name: _
Econ 471/571
Final Exam
Spring 2013
Instructiona: Take 10 minutes to read through the exam. You will then have 110 minutes in which to
complete the 110 point exam. Allocate your time accordingly.
Many parts of the exam include sentence comple
Your Name: _
Econ 471/571
Spring 2013
Midterm Exam 1
Take 5 minutes to look through the exam. You will then have 75 minutes in which to complete the
exam. The exam is worth a total of 75 points. That works out to one minute per point. Allocate your
time a
Name _
Econ 471/571
Midterm 2
Spring 2013
Instructiona: Take 5 minutes to look through the exam. You will then have 75 minutes in which
to complete the exam. The exam is worth a total of 75 points. Allocate your time accordingly.
Show your work in the spa
2014 Day 1
Econ 471/571
Monetary Theory
Preliminaries
Course Overview
IS/LM Model The Goods Market
Preliminaries
Introductions
Contact information/background
Office hours
Monday
from noon to 2:00 PM.
Wednesday from noon to 1:00 PM.
By appointment.
I
2014 Day 2
Econ 471/571
Homework #1
The IS/LM Model
Preliminaries
IS Curve
LM Curve
Equilibrium
Preliminaries
n
Reminder: Office hours
Monday noon 2:00
Wednesday noon 1:00
Tuesday and Thursday
after class at the classroom
Other
times by appointment
Ho
2014 Day 1
Econ 471/571
Monetary Theory
q
q
q
Preliminaries
Course Overview
IS/LM Model The Goods Market
Preliminaries
n Introductions
n
Contact information/background
Office hours
Monday
from noon to 2:00 PM.
Wednesday from noon to 1:00 PM.
By appoint