Intermediate Macroeconomic Theory II
Economics 105B
Take-Home Midterm Examination
中级宏观经济代写 1.[49 points]In the Classical model for a macroeconomy,(a) [27 point]Analyze the effects of a newly-developed technology that ···
Instructions
- There are two pages of the exam.
- You have 60 minutes to complete the exam.
- There are 100 points in total for the exam. Answer all of them.
- Start answering the exam questions on page 2 of your answer sheets.
- Please put a page number sequentially at the bottom of each page, including the cover page.
- Please make sure that your answers are legible; and underline the keywords in your answers.
- Please use CamScanner or another app to covert your answer sheets, in the correct order per the page numbers, into a single pdf file under the name of “LAST FIRST ID.pdf”. This will be the only format that will be accepted for grading.
- Submit the pdf file of your answer sheets onto the iLearn site of Econ 105B under “Assignments”. Click on “First Midterm Submission”, and then click on “Browse My Computer”; select the pdf file from your computer; click on “Submit” on the bottom right of the page. Note that only Single Attempt of your submission will be allowed.
Questions 中级宏观经济代写
1.[49 points]
In the Classical model for a macroeconomy,
(a) [27 point]
Analyze the effects of a newly-developed technology that improves labor productivity on the economy’s (i) real wage, (ii) employment and (iii) real output. Illustrate your answers with the diagrams of a production function and the Classical labor market.
Explain your answers. 中级宏观经济代写
(b) [10 points] Explain in words what is precisely meant by the “neutrality of money”?
(c) [12 point] Illustrate the neutrality of money with the Classical aggregate demand and aggregate supply diagram under a decrease in the quantity of nominal money supply.
Explain your answers.
2.[27 points] 中级宏观经济代写
Analyze the effects of a higher U.S. government budget deficit on (i) the world real interest rate, together with (ii) net borrowing and (iii) trade surplus of U.S. as an open economy. Illustrate your answers with the diagram of the world capital market.
Explain your answers.
3.[24 point] 中级宏观经济代写
(a) [10 points] Explain in words what is precisely meant by the “efficiency wage”?
(b) [14 points] Explain how unemployment arises in equilibrium according to the efficiency wage theory. Illustrate your answers with the diagram of the New-Keynesian labor market.
Explain your answers.
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