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Questions 5 to 7 Consider the simple production model studied in class but with different exponents...
Consider the simple production model studied in class with production function 10 p Y-A/2/3 Suppose now...
Consider the simple production model studied in class with production function 10 p Y-A/2/3 Suppose now that thanks to a new technology, the productivity parameter (A) in the production function increases by 25%. Recall that in this model the stock of capital is fixed at a constant value. Draw a diagram to help you answer the following question: As a result of the increase in productivity, The labor supply will shift to the right, and the supply of capital will...
5-7 QUESTION 5 I nominal GDP grew 9 percent last year and the population have not...
5-7
QUESTION 5 I nominal GDP grew 9 percent last year and the population have not changed and inflation rate was 4 percent, then real GDP per capita grew by percent. 2.25 13 QUESTION 6 -20 + 4/w), where w is the wage per Suppose a firm's labor demand equation is L-28-21w), and the labor supply equation that it froos is, hour worked. The government imposes a minimum wage equal to 10. As a result unemployment will not change increase...
uestions 11-13 Consider the Romer model with the following parameter valu workers employed in research activities i...
uestions 11-13 Consider the Romer model with the following parameter valu workers employed in research activities is 25%, research produ the workforce equals 200. Take year 2020 as the starting date. Calculate the innovation rate () and answer the your calculations. arameter values: A0-100, the share of research productivity is ze 1/1,000 and Question 11. Which of the following statements is correct ab 2025? ollowing question. Use two decimals in acements is correct about the economy in year a) The...
Macroeconomic Multiple Choice Questions Answer All 10 Questions* 1) If the Central Bank of Kuwait puts...
Macroeconomic Multiple Choice Questions
Answer All 10 Questions*
1) If the Central Bank of Kuwait puts in place an expansionary monetary policy, its decision is based on A) the fact that the economy is at full employment B) Expectation of excessive inflation in the future C) the fact that the economy is in an expansion D) Unemployment level is high 2) When the interest rate is set at a very low rate A) the opportunity cost of holding money is...
1. Consider the simple version of the Solow Growth Model discussed in class summarized by these...
1. Consider the simple version of the Solow Growth Model discussed in class summarized by these four equations: Consumers save a fraction s of output: 1 = sy Capital grows as follows: K' = 1 + (1 - 8)K Firms use capital to make output: Y = AK 0.3 There is no government or trade: Y = C+/ where Y is GDP, / is investment, C is consumption, s is the savings rate, K is the capital stock this year,...
5) If consumption increases by $200 and, in response, equilibrium aggregate expenditure increases by $600, the...
5) If consumption increases by $200 and, in response, equilibrium aggregate expenditure increases by $600, the multiplier is A) 5 B) 0.5.C)2. D) 0.3. 6) When the GDP in Kuwait rises relative to the GDP in other countries, will fall and will fall A) exports; imports B) exports; net exports C) imports; net exports D) net exports; imports 7) An increase in the price level will A) shift the aggregate demand curve to the left. B) shift the aggregate demand...
I need some confirmation on how I scored on an AP Macroeconomics Assignment. If I get...
I need some confirmation on how I scored on an AP Macroeconomics Assignment. If I get something wrong, could you please tell me what the correct answer is, as well as why? Thanks! 1) Sources of economic growth would include an increase in: consumer spending. GDP. worker education. government spending. financial investment. (I put worker education) 2) Suppose real GDP per capita in Canada is $25,000 and its annual growth rate is 7%. Real GDP per capita for Canada will...
QUESTION 1 According to the classical economists, those who are not working have chosen not to...
QUESTION 1 According to the classical economists, those who are not working have chosen not to work at the market wage. are unable to find a job at the current wage rate. have given up looking for a job but would accept a job at the current wage if one were offered to them. are too productive to be hired at the current wage. QUESTION 2 Which of the following explains why the long-run Phillips curve is drawn as a...
Question 1: According to Milton Friedman, the reason there are two Phillips curves is because a....
Question 1: According to Milton Friedman, the reason there are two Phillips curves is because a. prices are inflexible. b. the expected inflation rate does not instantaneously adjust to changes in the actual inflation rate. c. the expected inflation rate is equal to 1 minus the actual inflation rate. d. the expected inflation rate adjusts to changes in the actual inflation rate. Question 2: Milton Friedman argued that there a, are two Phillips curves, a short-run one and a long-run...
7. Suppose that Canada imposes an import quota on automobiles. In the open-economy macroeconomic model, which of...
7. Suppose that Canada imposes an import quota on automobiles. In the open-economy macroeconomic model, which of the following curves would this quota shift? a. supply of loanable funds left b. demand for loanable funds left c. demand for Canadian dollars right d. supply of Canadian dollars left 8. Suppose the Canadian government imposed import quotas on agricultural products. According to the foreign-currency exchange market diagram, which of the following outcomes would most likely result? a. Both the demand and supply curves...
Consider the simple production model studied in class with production function 10 p Y-A/2/3 Suppose now that thanks to a new technology, the productivity parameter (A) in the production function increases by 25%. Recall that in this model the stock of capital is fixed at a constant value. Draw a diagram to help you answer the following question: As a result of the increase in productivity, The labor supply will shift to the right, and the supply of capital will...
5-7
QUESTION 5 I nominal GDP grew 9 percent last year and the population have not changed and inflation rate was 4 percent, then real GDP per capita grew by percent. 2.25 13 QUESTION 6 -20 + 4/w), where w is the wage per Suppose a firm's labor demand equation is L-28-21w), and the labor supply equation that it froos is, hour worked. The government imposes a minimum wage equal to 10. As a result unemployment will not change increase...
uestions 11-13 Consider the Romer model with the following parameter valu workers employed in research activities is 25%, research produ the workforce equals 200. Take year 2020 as the starting date. Calculate the innovation rate () and answer the your calculations. arameter values: A0-100, the share of research productivity is ze 1/1,000 and Question 11. Which of the following statements is correct ab 2025? ollowing question. Use two decimals in acements is correct about the economy in year a) The...
Macroeconomic Multiple Choice Questions
Answer All 10 Questions*
1) If the Central Bank of Kuwait puts in place an expansionary monetary policy, its decision is based on A) the fact that the economy is at full employment B) Expectation of excessive inflation in the future C) the fact that the economy is in an expansion D) Unemployment level is high 2) When the interest rate is set at a very low rate A) the opportunity cost of holding money is...
1. Consider the simple version of the Solow Growth Model discussed in class summarized by these four equations: Consumers save a fraction s of output: 1 = sy Capital grows as follows: K' = 1 + (1 - 8)K Firms use capital to make output: Y = AK 0.3 There is no government or trade: Y = C+/ where Y is GDP, / is investment, C is consumption, s is the savings rate, K is the capital stock this year,...
5) If consumption increases by $200 and, in response, equilibrium aggregate expenditure increases by $600, the multiplier is A) 5 B) 0.5.C)2. D) 0.3. 6) When the GDP in Kuwait rises relative to the GDP in other countries, will fall and will fall A) exports; imports B) exports; net exports C) imports; net exports D) net exports; imports 7) An increase in the price level will A) shift the aggregate demand curve to the left. B) shift the aggregate demand...
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