Macroeconomics Course Outline
|
|
- Jewel Cox
- 5 years ago
- Views:
Transcription
1 Macroeconomics Course Outline CHAPTER TOPIC READING MACROECONOMICS Chapter 5 Measuring a Nation s Income Ch 23 Chapter 6 Measuring the Cost of Living Ch 24 Chapter 7 Production and Growth, Saving, Investment and the Financial System Parts of Ch Chapter 8 The Monetary System, Money Growth and Inflation Parts of Ch Chapter 9 Open Economy Macroeconomics: Basic Ch 31 Concepts Chapter 10 The Macroeconomics of Open Economies Ch 32
2 CH 5: MEASURING A NATION S INCOME Exercise List the four components of GDP. Give an example of each. 2. Why do economists use real GDP rather than nominal GDP to gauge economic well- being? 1. Below are some data from the land of milk and honey. Price of Quantity of Price of Quantity of Year Milk Milk Honey Honey 2010 $1 100 quarts $2 50 quarts 2011 $1 200 $ $2 200 $ Compute nominal GDP, real GDP, and the GDP deflator for each year, using 2010 as the base year. 1.2 Compute the percentage change in nominal GDP, real GDP, and the GDP deflator in 2011 and 2012 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense. 1.3 Did economic well- being rise more in 2011 or 2012? Explain. 2. Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars and the price is $4. In year 2, the quantity produced is 4 bars and the price is $5. In year 3, the quantity produced is 5 bars and the price is $6. Year 1 is the base year. 2.1 What is nominal GDP for each of these three years? 2.2 What is real GDP for each of these years? 2.3 What is the GDP deflator for each of these years? 2.4 What is the percentage growth rate of real GDP from year 2 to year 3? 2.5 What is the inflation rate as measured by the GDP deflator from year 2 to year 3?
3 CH 6: MEASURING THE COST OF LIVING 1. If the price of a Navy submarine rises, is the consumer price index or the GDP deflator affected more? Why? 2. Explain the meaning of nominal interest rate and real interest rate. How are they related? 1. The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2010, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 2011, they buy 75 heads of cauliflower for $225, 80 bunches of broccoli for $120, and 500 carrots for $ Calculate the price of each vegetable in each year. 1.2 Using 2010 as the base year, calculate the CPI for each year. 1.3 What is the inflation rate in 2011?
4 CH 7: PART I: PRODUCTION AND GROWTH 1. What does the level of a nation s GDP measure? What does the growth rate of GDP measure? Would you rather live in a nation with a high level of GDP and a low growth rate or in a nation with a low level of GDP and a high growth rate? 1. Suppose that society decided to reduce consumption and increase investment. 1.1 How would this change affect economic growth? 1.2 What groups in society would benefit from this change? What groups might be hurt? 2. Suppose that an auto company owned entirely by German citizens opens a new factory in South Carolina. a. 2.1 What sort of foreign investment would this represent? 2.2 What would be the effect of this investment on U.S. GDP? Would the effect on U.S. GNP be larger or smaller? PART II: SAVING, INVESTMENT, AND THE FINANCIAL SYSTEM 1. What is national saving? What is private saving? What is public saving? How are these three variables related? 2. What is a government budget deficit? How does it affect interest rates, investment, and economic growth? 1. Economists in Funlandia, a closed economy, have collected the following information about the economy for a particular year: Y = 10,000 C = 6,000 T = 1,500 G = 1,700 The economists also estimate that the investment function is: I = 3, r, where r is the country s real interest rate, expressed as a percentage. Calculate private saving, public saving, national saving, investment, and the equilibrium real interest rate.
5 CH 8: THE MONETARY SYSTEM, MONETARY GROWTH, AND INFLATION 1. Explain how an increase in the price level affects the real value of money. 2. According to the quantity theory of money, what is the effect of an increase in the quantity of money? 3. Explain the difference between nominal and real variables and give two examples of each. According to the principle of monetary neutrality, which variables are affected by changes in the quantity of money? 1. Suppose that this year s money supply is $500 billion, nominal GDP is $10 trillion, and real GDP is $5 trillion. 1.1 What is the price level? What is the velocity of money? 1.2 Suppose that velocity is constant and the economy s output of goods and services rises by 5 percent each year. What will happen to nominal GDP and the price level next year if the Fed keeps the money supply constant? 1.3 What money supply should the Fed set next year if it wants to keep the price level stable? 1.4 What money supply should the Fed set next year if it wants inflation of 10 percent? 2. If the tax rate is 40 percent, compute the before- tax real interest rate and the after- tax real interest rate in each of the following cases. 2.1 The nominal interest rate is 10 percent, and the inflation rate is 5 percent. 2.2 The nominal interest rate is 6 percent, and the inflation rate is 2 percent. 2.3 The nominal interest rate is 4 percent, and the inflation rate is 1 percent.
6 CH 9: OPEN- ECONOMY MACROECONOMICS: BASIC CONCEPTS 1. Define net exports and net capital outflow. Explain how and why they are related. 2. Explain the relationship among saving, investment, and net capital outflow. 3. If a Japanese car costs 500,000 yen, a similar American car costs $10,000, and a dollar can buy 100 yen, what are the nominal and real exchange rates? 1. How would the following transactions affect U.S. exports, imports, and net exports? 1.1 An American art professor spends the summer touring museums in Europe. 1.2 Students in Paris flock to see the latest movie from Hollywood. 1.3 Your uncle buys a new Volvo. 1.4 The student bookstore at Oxford University in England sells a pair of Levi s 501 jeans. 1.5 A Canadian citizen shops at a store in northern Vermont to avoid Canadian sales taxes. 2. A can of soda costs $0.75 in the United States and 12 pesos in Mexico. What would the peso- dollar exchange rate be if purchasing- power parity holds? If a monetary expansion caused all prices in Mexico to double, so that soda rose to 24 pesos, what would happen to the peso- dollar exchange rate?
7 CH 10: THE MACROECONOMICS OF OPEN ECONOMIES 1. Describe supply and demand in the market for loanable funds and the market for foreign- currency exchange. How are these markets linked? 2. Why are budget deficits and trade deficits sometimes called the twin deficits? 3. What is capital flight? When a country experiences capital flight, what is the effect on its interest rate and exchange rate? 1. Suppose that real interest rates increase across Europe. Explain how this development will affect U.S. net capital outflow. Then explain how it will affect U.S. net exports by using a formula from the chapter and by drawing a diagram. What will happen to the U.S. real interest rate and real exchange rate?
Homework Assignment #2, part 1 ECO 3203, Fall According to classical macroeconomic theory, money supply shocks are neutral.
Homework Assignment #2, part 1 ECO 3203, Fall 2017 Due: Friday, October 27 th at the beginning of class. 1. According to classical macroeconomic theory, money supply shocks are neutral. a. Explain what
More informationMIDSUMMER EXAMINATIONS 2008
No. of Pages: (A) 8 No. of Questions: 38 EC1001A vv MIDSUMMER EXAMINATIONS 2008 Subject Title of Paper ECONOMICS EC1001 MACROECONOMICS Time Allowed Two Hours (2 Hours) Instructions to candidates This paper
More informationBUSI 101 Capital Markets and Real Estate
BUSI 101 Capital Markets and Real Estate PURPOSE AND SCOPE The Capital Markets and Real Estate course (BUSI 101) is intended to acquaint the student with the basic principles of macroeconomics and to give
More informationBPE_MAC1 Macroeconomics 1 Spring Semester 2011
Masaryk University - Brno Department of Economics Faculty of Economics and Administration BPE_MAC1 Macroeconomics 1 Spring Semester 2011 Midterm Exam - 08.04.2011, 10:30-11:30 Test B Guidelines and Rules:
More informationA. unchanged decrease B. surplus decrease C. unchanged no change D. surplus increase E. unchanged increase A. A B. B C. C D. D E. E.
AP Macroeconomics Test (Answers on last Page) 1. Which of the following correctly describes the components of Aggregate Demand? A. Consumption expenditures + Investment expenditures + Government expenditures
More informationECON 1000 B. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in hour(s). Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationEcon 330 Final Exam Name ID Section Number
Econ 330 Final Exam Name ID Section Number MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) A group of economists believe that the natural rate
More informationThe Macroeconomic Theory of the Open Economy: Chapter 13 Continued Net Capital Outflow: The Link between the two markets
The Macroeconomic Theory of the Open Economy: Chapter 13 Continued In an open economy: o National saving o Domestic investment o Net foreign investment (NCO) o The exchange rate o Net exports (NX) Are
More informationMidsummer Examinations 2013
Midsummer Examinations 2013 No. of Pages: 7 No. of Questions: 34 Subject ECONOMICS Title of Paper MACROECONOMICS Time Allowed Two Hours (2 Hours) Instructions to candidates This paper is in two sections.
More informationIntermediate Macroeconomic Theory / Macroeconomic Analysis (ECON 3560/5040) Midterm Exam (Answers)
Intermediate Macroeconomic Theory / Macroeconomic Analysis (ECON 3560/5040) Midterm Exam (Answers) Part A (15 points) State whether you think each of the following questions is true (T), false (F), or
More informationLECTURE XIII. 30 July Monday, July 30, 12
LECTURE XIII 30 July 2012 TOPIC 15 Exchange Rates BIG PICTURE How do we evaluate currency across countries? How is the exchange rate determined? What is the relationship of the foreign exchange market
More informationPrinciple of Macroeconomics, Summer B Practice Exam
Principle of Macroeconomics, Summer B 2017 Practice Exam 1) If real GDP in a small country in 2015 is $8 billion and real GDP in the same country in 2016 is $8.3 billion, the growth rate of real GDP between
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 13:00 Section 03 TYPE C
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 13:00 Section 03 TYPE C Do not forget to write your full name,
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 13:00 Section 03 TYPE B
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 13:00 Section 03 TYPE B Do not forget to write your full name,
More informationBEFORE YOU BEGIN Looking at the Chapter
Name Date Period MEASURING ECONOMIC PERFORMANCE Chapter 12 BEFORE YOU BEGIN Looking at the Chapter Fill in the blank spaces with the missing words. GDP is the total value of all goods and services produced
More informationThe Foreign Exchange Market
INTRO Go to page: Go to chapter Bookmarks Printed Page 421 The Foreign Exchange Module 43: Exchange Policy 43.1 Exchange Policy Module 44: Exchange s and 44.1 Exchange s and The role of the foreign exchange
More informationEastern Mediterranean University Faculty of Business and Economics Department of Economics Spring Semester
Eastern Mediterranean University Faculty of Business and Economics Department of Economics 2015-16 Spring Semester ECON102 - Introduction to Economics II Midterm Exam Duration: 90 minutes Name: Group No:
More informationECON 1000 D. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in 2.5 hours. Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationStudy Questions. Lecture 13. Exchange Rates
Study Questions Page 1 of 5 Study Questions Lecture 13 Part 1: Multiple Choice Select the best answer of those given. 1. The statement the yen rose today from 121 to 117 makes sense because a. The U.S.
More informationEastern Mediterranean University Faculty of Business and Economics Department of Economics Spring Semester
Eastern Mediterranean University Faculty of Business and Economics Department of Economics 2015-16 Spring Semester Duration: 90 minutes ECON102 - Introduction to Economics II Final Exam Type A 2 June 2016
More informationButter Produced Price of Butter $5 40 $
1) Gross domestic product is calculated by summing up A) the total quantity of goods and services in the economy. B) the total quantity of goods and services produced in the economy during a period of
More informationFINAL EXAM STUDY GUIDE
AP MACROECONOMICS-2018 Name: FINAL EXAM STUDY GUIDE Instructions: DUE: Day of FINAL EXAM => Friday 12/21 st (1 st & 2 nd Periods) Thursday 12/20 th (4 th period) Section 1: PRODUCTION POSSIBLITIES FRONTIER
More informationECON 1002 E. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in 2.5 hour(s). Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationECON 1002 C. Come to the PASS workshop with your mock exam complete. During the workshop you can work with other students to review your work.
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in 1.5 hour(s). Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationStudy Questions. Lecture 13. Exchange Rates
Study Questions Page 1 of 5 Part 1: Multiple Choice Select the best answer of those given. Study Questions Lecture 13 1. The statement the yen rose today from 121 to 117 makes sense because a. The U.S.
More informationStudy Questions (with Answers) Lecture 13. Exchange Rates
Study Questions (with Answers) Page 1 of 5 Part 1: Multiple Choice Select the best answer of those given. Study Questions (with Answers) Lecture 13 1. The statement the yen rose today from 121 to 117 makes
More informationStudy Questions (with Answers) Lecture 13. Exchange Rates
Study Questions (with Answers) Page 1 of 5 Part 1: Multiple Choice Select the best answer of those given. Study Questions (with Answers) Lecture 13 1. The statement the yen rose today from 121 to 117 makes
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS FINAL , Saturday 10:00 TYPE A
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS FINAL 21.05.2016, Saturday 10:00 TYPE A Turn off your cell phone and put it away. During
More information2. Interest rates in the United States rise faster than interest rates in Canada.
Exchange Rates Interaction Between Currencies When Americans buy more foreign goods, U.S. dollars are sold in the international currency market to purchase foreign currencies that are used to pay producers
More informationClosed vs. Open Economies
Closed vs. Open Economies! A closed economy does not interact with other economies in the world.! An open economy interacts freely with other economies around the world. 1 Percent of GDP The U.S. Economy
More informationY = C + I + G + NX Y C G = I + NX S = I + NX
Economics 285 Chris Georges Help With Practice Problems 2 Chapter 6: 1. Questions For Review: 1,3,5. Please see text and notes. 2. Problems and Applications: 1a-d,2,4,10,11. Recall that national saving
More informationEC201 Intermediate Macroeconomics Problem Set 1 Solution
EC201 Intermediate Macroeconomics 2009/2010 EC201 Intermediate Macroeconomics Problem Set 1 Solution 1) Given the difference between Gross Domestic Product and Gross National Product for a given economy:
More informationCHAPTERS 1-5 (Blanchard)
CHAPTERS 1-5 (Blanchard) National Accounts Question 1: In Economics, GDP per capita is often used as a measure of the welfare of an economy. Discuss its advantages and disadvantages. Question 2: a) Discuss
More informationMeasuring a Nation s Income
Chapter 22 Measuring a Nation s Income Test A 1. Macroeconomics is the study of a. market regulation. b. money and financial markets. c. economy-wide phenomena. d. how households and firms make decisions
More informationECON 3312 Macroeconomics Exam 1 Spring Name
ECON 3312 Macroeconomics Exam 1 Spring 2016 Name MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) In the classical model, an increase in the government
More informationOpen Economy. Sherif Khalifa. Sherif Khalifa () Open Economy 1 / 70
Sherif Khalifa Sherif Khalifa () Open Economy 1 / 70 Definition A closed economy is an economy that does not interact with other economies. Definition An open economy is an economy that interacts freely
More informationFinal Examination Semester 2 / Year 2012
Final Examination Semester 2 / Year 2012 COURSE : MACROECONOMICS COURSE CODE : ECON1013 TIME : 2 1/2 HOURS DEPARTMENT : MANAGEMENT LECTURER : CHING YANN PENG Student s ID : Batch No. : Notes to candidates:
More informationUNIVERSITY OF TORONTO Faculty of Arts and Science. August Examination 2006 ECO 209Y
UNIVERSITY OF TORONTO Faculty of Arts and Science August Examination 2006 ECO 209Y Duration: 2 hours Examination Aids allowed: Non-programmable calculators only INSTRUCTIONS: Students are required to answer
More informationEastern Mediterranean University Department of Economics Spring Semester Econ 102 Quiz 1. Name: St. No.
22nd March 2017 Eastern Mediterranean University Department of Economics 2016-2017 Spring Semester Econ 102 Quiz 1 Duration: 50 minutes Name: St. No. Group Number 1. GDP is defined as a. the market value
More informationSolutions to HW1 Spring 2015
Solutions to HW1 Spring 2015 1.Below are some data from the land of milk and honey. Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey 2013 $1 100 $2 50 2014 $1 200 $2 100 2015 $2 200
More informationSUMMER EXAMINATIONS 2014
SUMMER EXAMINATIONS 2014 MODULE TITLE LEVEL TIME ALLOWED Introduction to Macroeconomics Four Two hours Instructions to students: Enter your student number not your name on all answer booklets. SECTION
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE B
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE B Do not forget to write your full name,
More informationTest Review. Question 1. Answer 1. Question 2. Answer 2. Question 3. Econ 719 Test Review Test 1 Chapters 1,2,8,3,4,7,9. Nominal GDP.
Question 1 Test Review Econ 719 Test Review Test 1 Chapters 1,2,8,3,4,7,9 All of the following variables have trended upwards over the last 40 years: Real GDP The price level The rate of inflation The
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2009 Prof. Bill Even FORM 1. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2009 Prof. Bill Even FORM 1 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2009 Prof. Bill Even FORM 4. Directions
ECO202: PRINCIPLES OF MACROECONOMICS SECOND MIDTERM EXAM SPRING 2009 Prof. Bill Even FORM 4 Directions 1. Fill in your scantron with your unique id and form number. Doing this properly is worth the equivalent
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE C
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE C Do not forget to write your full name,
More informationBoğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II , Tuesday 11:00 Section 06 TYPE A
NAME: NO: SECTION: Boğaziçi University, Department of Economics Spring 2016 EC 102 PRINCIPLES of MACROECONOMICS MIDTERM II 03.05.2016, Tuesday 11:00 Section 06 TYPE A Do not forget to write your full name,
More informationMidterm #2, version A, given Spring 2002 Note question #50 is from Chapter 11, which students are not responsible for on Exam 2 - Summer 02.
Midterm #2, version A, given Spring 2002 Note question #50 is from Chapter 11, which students are not responsible for on Exam 2 - Summer 02. Answers (if you think you see an error, please contact me ASAP.
More informationOpen Economy. Sherif Khalifa. Sherif Khalifa () Open Economy 1 / 66
Sherif Khalifa Sherif Khalifa () Open Economy 1 / 66 International Flows Definition A closed economy is an economy that does not interact with other economies. Definition An open economy is an economy
More informationMacroeconomics 1 - Seminar Miroslava Federičová
Macroeconomics 1 - Seminar 8 07.04.2015 Miroslava Federičová 1) If the GDP of the CR is higher than the GNP of the CR then foreigners contribute to production in the CR more than the Czechs contribute
More informationECON 3312 Macroeconomics Exam 1 Fall 2016
ECON 3312 Macroeconomics Exam 1 Fall 2016 Name MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Under the assumption of perfect competition, all
More information3. If the public decides to hold less currency, reserves in commercial banks will and excess reserves will.
1. Following an Open Market Sale of securities by the FED, reserves in commercial banks will and excess reserves will. 2. Following an Open Market Sale of securities by the FED, loans and deposits in commercial
More informationDunbar s Big Review Sheet AP Macroeconomics Exam Content Area [Hubbard Textbook pages] (percentage coverage on AP Macroeconomics Exam) I.
Dunbar s Big Review Sheet AP Macroeconomics Exam Content Area [Hubbard Textbook pages] (percentage coverage on AP Macroeconomics Exam) I. Basic Economic Concepts (8-12%) Three Fundamental Questions [8]:
More informationTable 9-2. Base Year (2006) 2013 Product Quantity Price Price Milk 50 $2 $3 Bread 100 $3 $3.50
1) The advice to "keep searching, there are plenty of jobs around here for which you are qualified," would be most appropriate for which of the following types of unemployment? A) frictional unemployment
More information2. (Figure: Change in the Demand for U.S. Dollars) Refer to the information
Name: Date: Use the following to answer questions 1-3: Figure: Change in the Demand for U.S. Dollars 1. (Figure: Change in the Demand for U.S. Dollars) Refer to the information in the figure. The change
More information5. What is the Savings-Investment Spending Identity? Savings = Investment Spending for the economy as a whole
Unit 4 Test Review KEY Savings, Investment and the Financial System 1. What is a financial intermediary? Explain how each of the following fulfills that role: Financial Intermediary: Transforms funds into
More informationPrinciples of Macroeconomics. Problem Set 1
Principles of Macroeconomics Problem Set 1 Sherif Khalifa 1. Consider the market for CD players: Price Supply 20 15 10 Demand 175 250 325 Quantity The equilibrium price= The equilibrium quantity= If the
More informationOPEN-ECONOMY MACROECONOMICS: BASIC CONCEPTS
18 OPEN-ECONOMY MACROECONOMICS: BASIC CONCEPTS LEARNING OBJECTIVES: By the end of this chapter, students should understand: how net exports measure the international flow of goods and services. how net
More informationPrinciples of Macroeconomics. Problem Set 1
Principles of Macroeconomics Problem Set 1 Sherif Khalifa 1. Consider the market for CD players: Price Supply 20 15 10 Demand 175 250 325 Quantity The equilibrium price= The equilibrium quantity= If the
More information國立高雄第一科技大學管理學院暨財金學院 學年度第 2 學期經濟學期末會考題目卷 ( A )
國立高雄第一科技大學管理學院暨財金學院 1 0 5 學年度第 2 學期經濟學期末會考題目卷 ( A ) 1. Which of the following is a function of money? A. a unit of account B. a store of value C. medium of exchange D. All of the above are correct. 2.
More informationMidsummer Examinations 2012
Midsummer Examinations 2012 No. of Pages: 6 No. of Questions: 34 Subject ECONOMICS Title of Paper MACROECONOMICS Time Allowed Two Hours (2 Hours) Instructions to candidates This paper is in two sections.
More informationECO 209Y L0101 MACROECONOMIC THEORY. Term Test #1
Department of Economics Prof. Gustavo Indart University of Toronto June 5, 2015 ECO 209Y L0101 MACROECONOMIC THEORY Term Test #1 LAST NAME FIRST NAME STUDENT NUMBER INSTRUCTIONS: 1. The total time for
More informationOpen-Economy Macroeconomics: Basic Concepts
Wojciech Gerson (1831-1901) Seventh Edition Principles of Macroeconomics N. Gregory Mankiw CHAPTER 18 Open-Economy Macroeconomics: Basic Concepts Closed vs. Open Economies A closed economy does not interact
More informationSummer Examinations 2015
Summer Examinations 2015 Module Title Level Time Allowed Introduction to Macroeconomics Four Two hours Instructions to students: Enter your student number not your name on all answer books. Section A:
More information國立高雄第一科技大學管理學院暨財金學院 學年度第 2 學期經濟學期末會考題目卷 ( A )
國立高雄第一科技大學管理學院暨財金學院 1 0 4 學年度第 2 學期經濟學期末會考題目卷 ( A ) I. Money and Monetary System 1. Consider the following traders who meet Bill has an eggplant wants a head of cabbage Tim has a head of lettuce wants
More informationEconomics. Open-Economy Macroeconomics: Basic Concepts CHAPTER. N. Gregory Mankiw. Principles of. Seventh Edition. Wojciech Gerson ( )
Seventh Edition Principles of Economics N. Gregory Mankiw Wojciech Gerson (1831-1901) CHAPTER 31 Open-Economy Macroeconomics: Basic Concepts In this chapter, look for the answers to these questions How
More informationTest 3: April 4, Multiple Choice 30 points (1 each) Select the best answer for each question. Answer the questions on the Scantron sheet.
Test 3: April 4, 2002 Multiple Choice 30 points (1 each) Select the best answer for each question. Answer the questions on the Scantron sheet. 1. Suzanne, a Canadian resident, purchases stock in a Thai
More informationQuestions and Answers. Intermediate Macroeconomics. Second Year
Questions and Answers Intermediate Macroeconomics Second Year Chapter2 Q1: MCQ 1) If the quantity of money increases, the A) price level rises and the AD curve does not shift. B) AD curve shifts leftward
More informationEC202 Macroeconomics Koç University, Summer 2014 by Arhan Ertan
EC202 Macroeconomics Koç University, Summer 2014 by Arhan Ertan Study Questions - 1 1. The production function for an economy can be expressed as Y = F(K, L), where Y is real GDP, K is the quantity of
More informationCommerce College Joint Economics Exam 102-2
Name: Class: Date: Commerce College Joint Economics Exam 102-2 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. 1. In a certain economy, when
More informationOpen-Economy Macroeconomics: Basic Concepts
N. Gregory Mankiw Principles of Macroeconomics Sixth Edition 18 Open-Economy Macroeconomics: Basic Concepts Premium PowerPoint Slides by Ron Cronovich 2012 UPDATE In this chapter, look for the answers
More informationMoney Growth and Inflation
Seventh Edition Brief Principles of Macroeconomics N. Gregory Mankiw CHAPTER 12 Money Growth and Inflation In this chapter, look for the answers to these questions How does the money supply affect inflation
More informationECON 120 -ESSENTIALS OF ECONOMICS
Name ECON 120 -ESSENTIALS OF ECONOMICS CH 21 Measuring National Inome MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The total market value of
More informationLecture 10 Aggregate Demand and Supply. Principles of Macroeconomics KOF, ETH Zurich, Prof. Dr. Jan-Egbert Sturm Fall Term 2008
Lecture 10 Aggregate Demand and Supply Principles of Macroeconomics KOF, ETH Zurich, Prof. Dr. Jan-Egbert Sturm Fall Term 2008 General Information 23.9. Introduction Ch. 1,2 30.9. National Accounting Ch.
More informationMidterm Examination Number 1 February 19, 1996
Economics 200 Macroeconomic Theory Midterm Examination Number 1 February 19, 1996 You have 1 hour to complete this exam. Answer any four questions you wish. 1. Suppose that an increase in consumer confidence
More informationTHE COSTS OF PRODUCTION
13 THE COSTS OF PRODUCTION Problems and Applications 1. a. opportunity cost; b. average total cost; c. fixed cost; d. variable cost; e. total cost; f. marginal cost. 2. a. The opportunity cost of something
More informationProblem Set #2. Intermediate Macroeconomics 101 Due 20/8/12
Problem Set #2 Intermediate Macroeconomics 101 Due 20/8/12 Question 1. (Ch3. Q9) The paradox of saving revisited You should be able to complete this question without doing any algebra, although you may
More informationA Macroeconomic Theory of the Open Economy
A Macroeconomic Theory of the Open Economy PowerPoint Slides prepared by: Andreea CHIRITESCU Eastern Illinois University 1 Market for Loanable Funds In an open economy S = I + NCO Saving = Domestic investment
More informationLecture 1: 10/07/2012
Ljubljana Summer school, July 2012 Macroeconomics Professor: Lorenzo Burlon Exercise List 1 Lecture 1: 10/07/2012 1. Decide whether the following statements are true of false. (a) We can say that macroeconomics
More informationECON 2301 TEST 3 Study Guide. Spring 2013
ECON 2301 TEST 3 Study Guide Spring 2013 Instructions: 33 multiple-choice questions, each with 4 responses Students need to bring: (1) Sanddollar ID card; (2) scantron Form 882-E; (3) pencil; (4) calculator
More informationPrinciples of Macroeconomics Introductory quiz
Principles of Macroeconomics Introductory quiz Academic Program: MSc in Banking and Finance Semester: Fall 2011/12 Instructor: Dr. Nikolaos I. Papanikolaou Office: Luxembourg School of Finance, KB2-E02
More informationOPEN-ECONOMY MACROECONOMICS: BASIC CONCEPTS
17 OPEN-ECONOMY MACROECONOMICS: BASIC CONCEPTS LEARNING OBJECTIVES: By the end of this chapter, students should understand: how net exports measure the international flow of goods and services. how net
More informationMASSEY UNIVERSITY MANAWATU CAMPUS
MASSEY UNIVERSITY AWATU CAMPUS EXAMINATION FOR 178.100 PRINCIPLES OF MACROECONOMICS Semester One 2015 Time allowed: THREE (3) hours All students are required to answer ALL the questions. All questions
More informationAssignment 1: Hand in only Answer. Last Name. First Name. Chapter
Assignment 1: Hand in only Answer Last Name First Name Chapter 3 1 11 21 2 12 22 3 13 23 4 14 24 5 15 25 6 16 7 17 8 18 9 19 10 20 Chapter 4 1 8 15 2 9 16 3 10 17 4 11 18 5 12 19 6 13 7 14 Chapter 3: Page
More informationFINAL EXAM GROUP B. Instructions: EC and EC ID #: Spring May 26, 2015
EC102.03 and EC 102.05 NAME: ID #: Spring 2015 FINAL EXAM GROUP B May 26, 2015 Instructions: You have 100 minutes to complete the exam. There will be no extensions. The exam consists of 50 multiple choice
More informationChapter 31 Open Economy Macroeconomics Basic Concepts
Chapter 31 Open Economy Macroeconomics Basic Concepts 0 In this chapter, look for the answers to these questions: How are international flows of goods and assets related? What s the difference between
More informationAGGREGATE DEMAND. 1. Keynes s Theory
AGGREGATE DEMAND 1. Keynes s Theory - John Maynard Keynes (1936) criticized classical theory for assuming that AS alone capital, labor, and technology determines national income proposed that low AD is
More informationEcon 98- Chiu Spring 2005 Final Exam Review: Macroeconomics
Disclaimer: The review may help you prepare for the exam. The review is not comprehensive and the selected topics may not be representative of the exam. In fact, we do not know what will be on the exam.
More informationSAMPLE EXAM QUESTIONS FOR FALL 2018 ECON3310 MIDTERM 2
SAMPLE EXAM QUESTIONS FOR FALL 2018 ECON3310 MIDTERM 2 Contents: Chs 5, 6, 8, 9, 10, 11 and 12. PART I. Short questions: 3 out of 4 (30% of total marks) 1. Assume that in a small open economy where full
More informationIntermediate Macroeconomics Instructed by: Ming Yi Midterm Exam I (Open-Book) Undergraduate Economics Program, HUST Wednesday, October/19/2016
Intermediate Macroeconomics Instructed by: Ming Yi Midterm Exam I (Open-Book) Undergraduate Economics Program, HUST Wednesday, October/19/2016 Name: Student ID: 1. (5 5 =25 points) Consider a closed economy,
More informationLecture 22. Aggregate demand and aggregate supply
Lecture 22 Aggregate demand and aggregate supply By the end of this lecture, you should understand: three key facts about short-run economic fluctuations how the economy in the short run differs from the
More informationInternational Finance
International Finance Chapter 21 CHAPTER CHECKLIST 1. Describe a country s balance of payments accounts and explain what determines the amount of international borrowing and lending. 2. Explain how the
More information1. What is the inflation rate between 2001 and 2002 in terms of the CPI?
Econ 102, Winter 2006 Final Exam - Answers Questions 1-2 use the data in the table below. Suppose there is a small economy. In this economy, there are 3 goods produced in 2000, 4 goods produced in 2001,
More informationEcon 102/Lecture 100 Final Exam Form 1 April 27, 2005
Econ 102/Lecture 100 Final Exam Form 1 April 27, 2005 1. The Wall Street Journal reports that 2004 saw an increase in the real interest rate and a simultaneous depreciation of the real exchange rate. Which
More informationECON Intermediate Macroeconomics (Professor Gordon) First Midterm Examination: Fall 2011 Answer sheet
ECON 311 - Intermediate Macroeconomics (Professor Gordon) First Midterm Examination: Fall 2011 Answer sheet YOUR NAME: Circle the TA session you attend: Ofer 9AM 4PM Nuri 4PM Juan 9AM INSTRUCTIONS: 1.
More informationMacroeonomics. 18 this chapter, Open-Economy Macroeconomics: look for the answers to these questions: Introduction. N.
C H A P T E R In 18 this chapter, look for the answers to these questions: Open-Economy Macroeconomics: How are international flows of goods and assets Basic Concepts related? P R I N C I P L E S O F Macroeonomics
More informationEcon 102/Lecture 100 Final Exam Form 1 April 27, Answers
Econ 102/Lecture 100 Final Exam Form 1 April 27, 2005 Answers 1. The Wall Street Journal reports that 2004 saw an increase in the real interest rate and a simultaneous depreciation of the real exchange
More informationFINAL EXAM STUDY GUIDE
AP MACROECONOMICS-2017 Name: FINAL EXAM STUDY GUIDE Instructions: DUE: Day of FINAL EXAM => Friday 12/22 nd (1 st & 2 nd Periods) Thursday 12/21 st (4 th period) Section 1: PRODUCTION POSSIBLITIES FRONTIER
More informationFri. April (PA115)
It is most beneficial to you to write this mock midterm UNDER EXAM CONDITIONS. This means: Complete the midterm in 2.5 hour(s). Work on your own. Keep your notes and textbook closed. Attempt every question.
More informationI did not use any unauthorized aid on this exam. Name: (PRINT) UM ID #: Signature:
Econ 102 Lecture 100 Exam I Form 1 ECON 102/100 February 10, 2005 Section Day Time Location GSI 101 F 2:30-4 205 DENN Jooyong 102 F 11:30-1 373 Lorch Sue 103 F 1-2:30 373 Lorch Jooyong 104 M 4-5:30 351
More information