1
ECMA06 The AS-AD Model in the Long Run
The AS-AD Model in the Long Run & Bringing Money
into the Model
Outline
Discuss how wages enter the AD-AS model.
Discuss the adjustment mechanism from the shor
CHAPTER 7
Measuring Domestic Output
and National Income
A. Short-Answer, Essays, and Problems
1. Of what use is national income accounting to economists and to policy makers?
2. Define GDP and its cha
ECMA06H
The April-May Exam
Time: 3 hours
INSTRUCTIONS
1. Remove this page. The exam is underneath. This exam consists of 11 numbered pages. Please check to make
sure you have all the pages.
2. Please
ECMA06 Tutorial #1 Answer Key
Question 1
Part (a)
Base year = 2004.
Consumer price index (CPI):
To compute the CPI, we use the base year bundle, i.e., the 2004 bundle, and current year price.
Cost o
University of Toronto Scarborough
Department of Management
ECMA06 LEC 01 & LEC 60
Introduction to Macroeconomics:
A Mathematical Approach
SUPPLEMENTARY READINGS
SUPPLEMENT A: UNEMPLOYMENT AND INFLATIO
WEEK 7
Topics: Is there a long run equilibrium? The long run AS curve. The long run adjustment
mechanism. Asymmetry when there is a deflationary or inflationary gap.
The need to introduce the interest
STUDY QUESTIONS
WEEKS 1 & 2
Week 1
Topics: Introduction to macroeconomics. Unemployment and inflation; how are they measured
(including both CPI and GDP deflator), and in what ways are they harmful? G
University of Toronto Scarborough
ECMA06 Introduction to Macroeconomics:
A Mathematical Approach
Midterm Detailed Solutions, Winter 2009
Version A
Question 1
In the past decade, the labour force parti
University of Toronto Scarborough
ECMA06 Introduction to Macroeconomics:
A Mathematical Approach
Midterm, Winter 2009
Version A
Instructor:
Iris Au
Date & Time:
Saturday, February 28, 2009, 5:00pm 6:3
ECMA06H
First Term Test - February 27, 2008
Prof. Michael Krashinsky
Time: 90 minutes
Version A
Instructions: PLEASE READ CAREFULLY
1. On the Scantron answer sheet, you must
PRINT your last name and f
ECMA06H
First Term Test - February 12, 2007
Time: 90
minutes
Profs. Michael Krashinsky and Walid Hejazi
Version A
Instructions: PLEASE READ CAREFULLY
1. On the Scantron answer sheet, you must
PRINT y
ECMA06H
The Final Exam
April 11, 2005
Time: 3 hours
INSTRUCTIONS
1. Remove this page. The exam is underneath. This exam consists of 13 numbered pages. Please check to make
sure you have all the pages.
ECMA06H
The Final Exam
April 17, 2006
Time: 3 hours
INSTRUCTIONS
1. Remove this page. The exam is underneath. This exam consists of 14 numbered pages. Please check to make
sure you have all the pages.
University of Toronto Scarborough
ECMA06 Introduction to Macroeconomics:
A Mathematical Approach
Midterm, Winter 2009
Version A
Instructor:
Iris Au
Date & Time:
Saturday, February 28, 2009, 5:00pm 6:3
ECMA06H
Second Term Test - March 17, 2006
Profs. Michael Krashinsky and Walid Hejazi
PRINT CLEARLY
NAME:
Time: 90 minutes
_ _
(Last name)
(First name)
STUDENT NUMBER:
_
TUTORIAL TIME:
_
(Write down th
ECMA06H
Second Term Test March 12, 2004
Time:100
minutes
Profs. Michael Krashinsky and Gordon Cleveland
PRINT CLEARLY
NAME:
_
_
(Last name)
_
_
(First
name)
STUDENT NUMBER:
_
TUTORIAL TIME:
_
(Write d
ECMA06S
First Term Test - February 7, 2004
Profs. Michael Krashinsky and Gordon Cleveland
PRINT CLEARLY
NAME:
Time: 90 minutes
_ _
(Last name)
(First name)
STUDENT NUMBER:
_
TUTORIAL TIME:
_
(Write do
University of Toronto Scarborough
ECMA06 Introduction to Macroeconomics: A Mathematical Approach
Final Exam, Winter 2009
Version A
Professor:
Iris Au
Date & Time:
Thursday, April 16, 2009, 7:00pm 9:30
ECMA06H
The Final Exam
April 14, 2008
Time: 3 hours
Professor Michael Krashinsky
THIS IS VERSION A OF THE EXAM - MAKE SURE TO INDICATE
THIS VERSION ON YOUR SCANTRON SHEET, AND ON YOUR
ANSWER BOOKLET,
ECMA06H
The Final Exam
April 16, 2007
Time: 3 hours
Professors Krashinsky and Hejazi
THIS IS VERSION A OF THE EXAM - MAKE SURE TO INDICATE
THIS VERSION ON YOUR SCANTRON SHEET, AND ON YOUR
ANSWER BOOKL
1
ECMA06 Open Economy (Part 2)
Open Economy (Part 2)
Please complete the course evaluation on Intranet, I value
your feedback!
Outline
A brief review of what we have learned for an open
economy.
Discu
1
ECMA06 Open Economy (Part 1)
Open Economy (Part 1)
Outline
What is the foreign exchange market?
Discuss factors that affect demand for and supply of a
countrys currency.
Use of the demand and supply
1
ECMA06 Stabilization Policy & The Introduction of Open Economy
Stabilization Policy & The Introduction of Open Economy
Outline
Discuss the effectiveness of monetary policy in affecting
output.
Compa
University of Toronto Scarborough
Department of Management
ECMA06 LEC 01 & LEC 60
Introduction to Macroeconomics:
A Mathematical Approach
TUTORIAL QUESTIONS
Tutorials are scheduled on different days d
ECMA06 Tutorial #11 Answer Key
Question 1
Part (a)
Demand for Canadian dollars (C$) in the foreign exchange market it arises when foreigners
purchases stuffs from us because foreigners living outside
ECMA06 Tutorial #10 Answer Key
Question 1
Part (a)
Disposable income, DI:
DI = Y T + TR
DI = Y 0.3Y + [20 0.075Y] = 20 + 0.625Y
C = C(Y):
C = 0.8(20 + 0.625Y)
C = 16 + 0.5Y
The AE function:
AE = C