Economics 146
Spring 2013
Midterm examAnswer key
1. (i) An exogenous increase in housing prices boosts C0 in our macroeconomic model.
Also, a tax cut boosts after-tax income and hence consumption demand. Thus we have a
positive direct shock to aggregate d
Economics 146
Spring 2014
Homework #2
1. What direction does the IS curve shift if output, y, rises?
2. Based on our model of consumption demand, what happens to consumption when the
price level, P, changes? Do people increase current consumption when the
Fiscal and Monetary Policies and Stabilization: Empirical Issues
Introduction
In this module we will study various empirical aspects of fiscal and monetary policies.
The first three sections will include an examination of the empirical relationship betwee
Economics 146, Homework #1
Your task will be to download macroeconomic data into Excel and then to plot it,
describe it, and perform some simple statistical calculations with it; you will be graded
only on the statistical calculations. The task is straigh
Economics 146
Winter 2016
Midterm examAnswer key
1. (i) An exogenous increase in G directly boosts aggregate demand (shifting the IS and
AD curves to the right). An exogenous decline in r0 by the Fed stimulates the interestrate-sensitive components of agg
1
Econ 146, Spring 2015
Homework #2 - Answer Key
1(i) period 1: U = 5 + 10C1
period 2: U = 5 + 10C2
If C1 = C2 = 10 then total utility over the two periods is:
[5 + 10(10)] + [5 + 10(10)] = 210
If C1 = 5 and C2 = 15 then total utility is:
[5 + 10(5)] + [5
Theory of Stabilization Policy
Overview
1. The use of monetary and fiscal policies to moderate the business cycle is called
macroeconomic stabilization policy. Because these policies shift the aggregate demand
curve, their use in smoothing fluctuations is
Topics in Fiscal and Monetary Policies and Stabilization: Empirical Issues
Introduction
In this module we will study various empirical aspects of fiscal and monetary policies.
The first three sections will include an examination of the empirical relations
Econ 146 First Assignment
1/21/16
1. Correl(B159:B984,I159:984) = 0.437643762
Correlation coefficient of 3 months Treasury Bill and Consumer Price Index for all urban consumers:
all items in growth rate between 1947-02-01 and 2015-11-01 is 0.437643762
2.
Theory of Stabilization Policy
1. The use of monetary and fiscal policies to moderate the business cycle is called
macroeconomic stabilization policy. Because these policies shift the aggregate demand
curve, their use in smoothing fluctuations is also cal
Economics 146, Homework #1
Your task will be to download macroeconomic data into Excel and then to plot it,
describe it, and perform some simple statistical calculations with it; you will be graded
only on the statistical calculations. The task is straigh
Business Cycles: Introduction, Characteristics, and Facts
Introduction
Although the U.S. economy has exhibited growth in real GDP of about 2% to 3% per
year on average over the last century, fluctuations in economic activity around the trend
are common. I
Theory of Stabilization Policy
Overview
1. The use of monetary and fiscal policies to moderate the business cycle is called
macroeconomic stabilization policy. Because these policies shift the aggregate demand
curve, their use in smoothing fluctuations is
1
Econ 146, Fall 2017
Homework #2 - Answer Key
1(i) period 1: U = 5 + 5C1
period 2: U = 5 + 5C2
If C1 = C2 = 10 then total utility over the two periods is:
[5 + 5(10)] + [5 + 5(10)] = 110
If C1 = 5 and C2 = 15 then total utility is:
[5 + 5(5)] + [5 + 5(15
Economics 146
Spring 2014
Midterm Exam (120 points)
In answering the following questions, feel free to use any abbreviations or curveshifting symbols used in class.
1. Many economists argue that the strong economic expansion between 2001 and 2007
was caus
Business Cycles: Definition and Facts
In 1959, Arthur Burnsformer chairman of the Federal Reserve Board and a towering
figure in the analysis of business cyclespredicted, if not the end of business cycles in
the United States, at least that the business c
Macroeconomic Models of Business Cycles
Aggregate Demand
Market in New Goods and Services: The IS Curve
1. Current real consumption of domestically-produced or foreign-produced goods and
services depends on current real after-tax income and on expected fu
Economics 146, Spring 2014
Homework #3
1. Use the Friedman model to determine the variance of Z, V(Z), if V(X) = 400 and V(P)
= 225 and if the correlation coefficient between X and P is -1? What if it is -1/2? What
if it is 0?
2. In Friedmans model, assum
Theory of Stabilization Policy
1. The use of monetary and fiscal policies to moderate the business cycle is called
macroeconomic stabilization policy. Because these policies shift the aggregate demand
curve, their use in smoothing fluctuations is also cal
1
The Long Depression of 1873-1879: An Austrian Examination
Patrick Newman
Rutgers University
[email protected]
Abstract:
This paper analyzes the period 1860-1880 in American economic history from an
Austrian perspective. The post-Civil War boom, the P
Economics 146
Winter 2016
Midterm Exam (120 points)
In answering the following questions, feel free to use any abbreviations or curveshifting symbols used in class.
1. It is arguable that the U.S. economic expansion between 2009 and 2016 was caused by
sev
Economics 146
Winter 2017
Homework #2
1(i) Suppose that consumers must decide on how much to consume in each of two
periods. Suppose that the utility function in each period is given by: U = 5 + 5C. In
other words it is 5 + 5C1 in period one and it is 5 +
Economics 146 Final Exam
Winter Quarter, 2016
-Each question is worth 35 points, except for question 7 which is worth 30 points; the
total is 240 points. Feel free to answer questions in any order.
1. Based on the Taylor Rule, if the long-run equilibrium
A
B
C
D
E
Total
Name_
StudentNumber_
Econ132(W2015):MidTermExam2[81PointsTotal]
A.FillInTheBlank(MayRequireMoreThanOneWord)[20Points]
1.TheUnitedStatesgetsapproximately_%ofitselectricpowerfromnuclearreactors.
2.Abarrelofoilisrefinedintoseveraldifferentp