EC290 A/B Mid-Term Examination - February 15th, 2012
February 7, 2012
Student Information
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Course Section (A or B):
Examination Instructions
0 The exam length is 80 mi
0 There are 50 points ‘ this exam (10 points
Chapter 25
Practice Questions
Question One
The operation of monetary policy
Suppose we have an expectations augmented Phillips curve:
t et = 0.1 2 ut
a.
What is the natural rate of unemployment in this economy?
Scenario 1:
Suppose that this economy was at
1
Practice Questions
Suggested Answers
Chapter 5
Open by doing the practice questions in the spreadsheet from this chapter
There are answers in the spreadsheets
Question One The role of interest rates in shifting the ZZ curve
Consider Figure 5-1 on Page 7
Chapter 25
Practice Questions
Question One
The operation of monetary policy
Suppose we have an expectations augmented Phillips curve:
t et = 0.1 2 ut
a.
What is the natural rate of unemployment in this economy?
The natural rate of unemployment solves this
Practice Questions
Chapter 5
Open by doing the practice questions in the spreadsheet from this chapter
Question One The role of interest rates in shifting the ZZ curve
Consider Figure 5-1 on Page 79.
investment
If the value of b2 in the equation that desc
Practice Questions Chapter 8
Question One:
Concepts
This is the most complex chapter in that the analysis now has to look at three markets
to check for equilibrium.
(a) Describe in words the concept of goods market equilibrium in the open economy
(b) Desc
1
Practice Questions Chapter 4
Question One
a.
i=(100/$PB) - 1; i (rounded) = 33% ; 18% ; 5% when $PB =$75 ; $85 ;
$95.
b.
Negative.
c.
$PB =100/(1.08) $93
Question Two
a.
Demand for central bank money=0.1*$Y*(.8-4i)
b.
$100 B = 0.1*$5,000 B*(.8-4i)
i=15%
Practice Questions Current Fiscal Policy
These questions cover the parts of Chapter 26 we covered. There are additional questions based on the
lecture slides.
Question One
Define
A.
The level of National Debt
B.
The deficit
C.
The primary deficit
D.
We ha
1
Practice Questions
Suggested Answers
Chapter 5
Open by doing the practice questions in the spreadsheet from this chapter
There are answers in the spreadsheets
Question One The role of interest rates in shifting the ZZ curve
Consider Figure 5-1 on Page 7
Practice Questions Chapter 8
Question One
Concepts
The analysis now has to look at three markets to check for equilibrium.
Make sure you understand the three equilibrium concepts.
(a) Describe in words the concept of goods market equilibrium in the open e
Practice Questions Chapters 9 and 10
We will do the practice questions for Chapters 9 and 10 together.
Question One
Consider an economy where
Y=AN A>0
A is the productivity of labour
N < L L is a fixed total labour force U + N = L
W = Pe ( z/u)
P=(1+)W
u
Practice Questions
Suggested Answers
Chapters 9 and 10
We will do the practice questions for Chapters 9 and 10 together.
Question One
Consider an economy where
Y=AN A>0
A is the productivity of labour
N < L L is a fixed total labour force U + N = L
W = Pe
Practice Questions Seven
Question One:
The extended multiplier model in the open economy
The model presented on Page 128 can be extended
C = c0 + c1 ( Y T )
I = d0 + d1 Y
Q = q1 Y
X = x1 Y*
Y* is foreign income
T = t1 Y
T is taxes net of transfers
(a) Eve
1
Practice Questions Current Fiscal Policy
These questions cover the parts of Chapter 26 we covered. There are additional questions based on the
lecture slides.
Question One
Define
A.
The level of National Debt
This is the total amount of debt owed by gov
Practice Questions
Suggested Answers
Chapter 3
Question One
a.
Y=160+0.6*(Y-100)+150+150
Y=1000
b.
YD=Y-T=1000-100=900
c.
C=160+0.6*(900)=700
This is the same economy as the base economy in the spreadsheet.
Question Two
a.
If output is 900 units then
tota
Economics 290
Winter 2013
Intermediate Macroeconomics I: Static Analysis
Instructor:
Office:
Telephone:
Office Hours:
Dr. David Johnson
SBE 3264
884-0170 ext. 2540
Tuesdays 10-11:30 AM (may be subject to change)
Please feel free to phone or email for an a
Chapter 9 The Labor Market
9.1 A Tour of the Labor Market
Labor ForceThe sum of those either working or looking for work.
Participation rateThe ratio of the labor force to the noninstitutionalized population.
Unemployment ratethe ratio of the unemployed t
Practice Questions
Chapter 6
Question One
Domestic Country Balance of Payments ($)
Current Account
Exports of Goods and Services +25 (skiing)
Imports of Goods and Services -100 (oil) -45 (insurance) 5 (illegal)
Trade Balance -125
Primary Income Received 5
Chapter 11
Practice Questions
Question One
BASED on Question 3. Page 213 (but I have changed the numbers)
Suppose we have an expectations augmented Phillips curve:
t et = 0.1 2 ut
a.
What is the natural rate of unemployment in this economy?
Suppose that t
Syllabus
Lecture 1
Course Name: Intermediate
Macroeconomics
Course Type: Required for 1st year
graduate students at ECON School in
NKU
Language: English
Credits: 3
Syllabus
J. Ding, Nankai Univ.
Macroeconomics, O. Blanchard
1
Syllabus
2
Macroeconomics is
1
Practice Questions Suggested Answers Chapter 5
Open by doing the practice questions in the spreadsheet from this chapter
There are answers in the spreadsheets
Question One The role of interest rates in shifting the ZZ curve
Consider Figure 5-1.
If the v
1
Practice Questions Chapter 4
Question One
Do Question 3 on Page 79 Bonds and the Interest Rate parts a. b. and c.
Question Two
Do Question 6 on Page 79 The Money Multiplier parts a. b. c., d and e
Question Three
Part A
Balance sheets of the central bank
Practice Questions Seven Suggested Answers
Question One:
The extended multiplier model in the open economy
The model presented on Page 128 can be extended
C = c0 + c1 ( Y T )
I = d 0 + d1 Y
Q = q1 Y
X = x1 Y*
Y* is foreign income
T = t1 Y
T is taxes net o
Practice Questions Seven
Question One:
The extended multiplier model in the open economy
The model presented on Page 133 can be extended
C = c0 + c1 ( Y T )
I = d 0 + d1 Y
Q = q1 Y
X = x1 Y*
Y* is foreign income
T = t1 Y
T is taxes net of transfers
(a)
Ev
Practice Questions
Suggested Answers
Chapter 3
Question One
a.
Y=160+0.6*(Y-100)+150+150
Y=1000
Note: we will sometimes call the equilibrium value of Y, Ye
b.
YD=Y-T=1000-100=900
c.
C=160+0.6*(900)=700
This is the same economy as the base economy in the s
Practice Questions
Chapter 3
Question One
Do parts a., b. and c. of Question 2 A Simple Economy on page 56.
This is the same economy as the base economy in the spreadsheet.
Question Two
Do parts a. b. and c. of Question 3. The Concept of Equilibrium on Pa
Practice Questions
Chapter 5
Open by doing the practice questions in the spreadsheet from this chapter
Question One The role of interest rates in shifting the ZZ curve
Consider Figure 5-1 on Page 83.
investment
If the value of b2 in the equation that desc
1
Practice Questions Chapter 4
Question One
a.
i=(100/$PB) - 1; i (rounded) = 33% ; 18% ; 5% when $P B =$75 ; $85 ;
$95.
b.
Negative.
c.
$PB =100/(1.08) $93
Question Two
a.
Demand for central bank money=0.1*$Y*(.8-4i)
b.
$100 B = 0.1*$5,000 B*(.8-4i)
i=15
Practice Questions Chapter 8 Suggested Answers
Question One
Concepts
The analysis now has to look at three markets to check for equilibrium.
Make sure you understand the three equilibrium concepts.
(a) Describe in words the concept of goods market equilib
1
Practice Questions
Chapter 11
Suggested Answers
Question One
Compare three aspects of The Great Depression and the 2009 recession in Canada:
Prices
Prices fell in the Great Depression - that is inflation was negative for about 4 years from 1929
to 1933.