National and International Accounts:
Income, Wealth, and the Balance
of Payments
5
1. The following partial table of the OECDa 2004 ranking of member countries based
on their GDP per capita. Compute the ratio of GNI to GDP in each case.What does
this impl
Chapters to Read
Formulas to Remember
Chapter 1
See
Working with Growth Rates part
(page 10)
Chapter 2
Chapter 3
(3.1) - (3.3)
Chapter 4
Solow Model with Population
Growth: equation for steady state
Chapter 5
(5.1) (5.2)
Chapter 6
-6.1
Chapter 7
(7.1) (7.
Balance of Payments I: The Gains
from Financial Globalization
6
1. Using the notation from the text, answer the following questions. You may assume
that net labor income from abroad is zero, there are no capital gains on external
wealth, and there are no
8
Fixed versus Floating:
International Monetary Experience
1. Using the IS-LM-FX model, illustrate how each of the following scenarios affect the
Home country. Compare the outcomes when the Home country has a xed exchange rate with the outcomes when the H
Name:_
McMaster I.D. #_
McMaster University
Economics 3C03
Dr. Robert Jefferson
Mid Term Examination 2
Friday, November 7, 2014
Instructions:
1.
2.
3.
On the FRONT of your Scantron (SIDE 1), fill out the items in the box at the top (your
McMaster i.d. num
ECON 3HH3
Spring 2011
Midterm exam
Name _
This is a closed book exam.
Exam is out of 100 points.
Answer all the questions.
Show all your calculations (except for the multiple choice questions).
Explain all your answers (except for the multiple choice ques
Econ 3T03
Fall 2014
Home Assignment #1: Answer Key
1. (8 points) Consider 2 countries, Avataria and Twilightia, which can be described by the Solow
model. Avataria has a capital-labor ratio that is initially twice as big as that of Twilightia, but
neither
Midterm Exam Review
Format: Closed book exam, 50 minutes long
Questions:
Part 1 (20 points): 5 multiple choice questions (no explanation is needed), 4 points each
Part 2 (80 points): 4 questions (20 points each). Here explain all your answers and show
all
Econ 3T03
Fall 2014
Home Assignment #6: Answer Key.
1. (4 points). Assume we can apply the model of an economy open to capital flows that is discussed
in Chapter 11 to the economy of Avataria.
(a) If the saving rate does not change, but the population gro
ECON 3TO3: Fall 2013
Midterm exam: Answer Key
5 multiple-choice questions (4 points each)
1. (4 points) In Twilightia the production function in per worker terms is y = A(k)1/2(h)1/2. If the per-capita
output growth rate between 2008 and 2009 was 10%, the
Econ 3C03, Lecture Notes
Overview of Canadian Public Sector
Nature of the Course
Econ 3C03
Public Economics-Taxation
Microeconomics
With Application to Taxation
This is an ECONOMICS course
ApproachMicroeconomic Theory for
Analysis
Assumption: Students are
Econ 3C03 Lecture Notes
Taxation of Income from Property
Income from Owning Things
Taxation of Income from
Property
Interest, Dividends, Capital Gains
The last section of our discussion of personal
income tax concerns the taxation of property
income.
This
Econ 3C03, Lecture Notes
Micro Background, Consumer Behavior
What We Need to Use and Why
Consumer Behavior
Fundamentals
Consumer Choice Model of Constrained Utility
Maximization
Consumer is assumed to know his/her
preferencesthese are represented using
Bu
CHAPTER
3
Exercise Solutions
31
Chapter 3, Exercise Solutions, Principles of Econometrics, 3e 32
EXERCISE 3.1
(a)
The required interval estimator is b1 tc se(b1 ) . When b1 = 83.416, tc = t( 0.975,38) = 2.024
and se(b1 ) = 43.410, we get the interval esti
Econ 3C03 Lecture Notes
Taxation of Capital Gains
Canadas Changing Capital Gains Tax
Taxation of Capital Gains
As we talked about last day, in Canada, capital
gains are considered taxable, with some special
provisions.
From 1974-88, and since 2000, 50% of
Econ 3C03 Lecture Notes
Ramsey, Corlett-Hague, Exp. Tax & Income Tax
Taxation and EfficiencyAgain
It seems more sensible to discuss them as part of our overall
coverage of efficiency in taxation, before moving into equity
considerations, and the design of
General Tax Theory
Tax Incidence
For the next several weeks, we study some
general tax theory, before we get into
specifics of Canadian taxes
Questions we'll look at are
Who Pays?
Incidence Concepts
Balanced Budget vs. Differential Incidence
1. Balanced B
Name:_
McMaster I.D. #_
McMaster University
Economics 3C03
Dr. Robert Jefferson
Mid Term Examination 1
Friday, October 3, 2014
Instructions:
1.
2.
3.
On the FRONT of your Scantron (SIDE 1), fill out the items in the box at the top
(your McMaster i.d. numb
ECON 3C03
Midterm 1 Practice Questions
1.
The inverse demand function for cases of whiskey defined by p = 186 6q, and the inverse
supply function is defined by p = 90 + 2q.
Originally there was no tax on whiskey. Then the government began to tax suppliers
Economics 3C03 Midterm II Answer Key
Version 1
1
A
2
C
3
A
4
D
5
C
6
B
7
B
8
C
9
B
10
D
11
D
12
D
13
A
14
B
15
D
16
D
17
B
18
A
19
A
20
B
21
B
22
A
23
C
24
A
25
C
26
D
27
C
28
A
29
D
30
C
Version 2
1
D
2
A
3
C
4
A
5
C
6
C
7
B
8
B
9
D
10
D
11
B
12
D
13
B
1
Econ 3C03 Lecture Notes
Excess Burden I
Excess Burdens
Taxation and Efficiency
All taxes used in modern societies impose costs on the
taxpayer
In most cases, the cost imposed exceeds the revenue raised.
Generalizing Deadweight Losses
Excess Burdens
The re
Econ 3C03 Lecture Notes
Equity & Optimal Taxes III
Optimal Taxes
Equity and Optimal Taxes III
Efficiency Considerations
Optimal Progressivity
The design of tax systems requires some balance
between the desire to minimize efficiency losses and
the desire t
Econ 3C03 Lecture Notes
Excess Burden III, Taxes on Wage Income
Labour-Leisure Model
Deadweight Losses from
Income Taxes
Labour-Leisure Model
The consumer's income is, to some extent, a
result of choice.
The consumer can choose to supply labour,
at wage r
Econ 3C03 Lecture Notes
Excess Burden II
Consumers Surplus
Excess Burden II
Consumers Surplus
Harberger Triangles
Ramsey Rules
There is another way of showing the excess burden
of a tax, using not utility functions themselves, but
rather, the next step in
Econ 3C03 Lecture Notes
Equity & Optimal Taxes II
Social Welfare Functions
Equity and Optimal Taxes II
If we believe that a democratically elected
government should undertake redistribution
we must believe that, at some level, utilities can be
compared ac
Econ 3C03, Lecture Notes
Micro Background, Exchange Equiilibrium, Pareto Efficiency, Welfare
Simple EconomyNot Much to Do
Imagine an economy with no economic institutions
No Prices, No Firms, No Markets, No Government
In fact, there is NO Production
Whats
Econ 3C03 Lecture Notes
Income Tax, Canada, General Principles
One Income Tax Act
Income Tax
In Canada, the taxes imposed on
individual incomes,
corporate incomes,
and on
are levied according to a single (very large) body of
laws, called the Income Tax Ac
Econ 3C03, Lecture Notes
Partial Equilibrium Incidence II,
Ad Valorem, Imperfect Competition
Ad Valorem Tax Analysis
Incidence in Partial
Equlibrium Models, Again
Ad Valorem Taxes, Imperfectly
Competitive Markets
Ad Valorem Tax
Ad Valorem Tax
Text, footno
1NAME: _
STUDENT NO.: _
COMMERCE 3FA3 Summer 2017
Anwar Husain
Duration of Examination: 2 hours
McMaster University Midterm Test I
July 5, 2017
THIS EXAMINATION PAPER COMPRISES 11 PAGES AND 42 MULTIPLE CHOICE
QUESTIONS. YOU ARE RESPONSIBLE FOR ENSURING TH