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Exam Final Sample Econ12 F22

This document is a sample final exam for an intermediate macroeconomics course. It contains 3 parts - identification questions, true/false questions, and longer answer questions. Part A defines key macroeconomic terms. Part B evaluates statements and requires explanations. Part C involves longer explanations and analyses of topics like the Fisher Effect, the Solow growth model, and effects of monetary policy. The exam tests students' understanding of macroeconomic concepts and models through definitions, evaluations, and longer discussions. It aims to comprehensively assess student learning in the course.

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Bri Min
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399 views1 page

Exam Final Sample Econ12 F22

This document is a sample final exam for an intermediate macroeconomics course. It contains 3 parts - identification questions, true/false questions, and longer answer questions. Part A defines key macroeconomic terms. Part B evaluates statements and requires explanations. Part C involves longer explanations and analyses of topics like the Fisher Effect, the Solow growth model, and effects of monetary policy. The exam tests students' understanding of macroeconomic concepts and models through definitions, evaluations, and longer discussions. It aims to comprehensively assess student learning in the course.

Uploaded by

Bri Min
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Name and Student Number: ____________________________________________________

Econ-UA-12 Department of Economics


Intermediate Macroeconomics New York University
Prof. Gerald McIntyre Fall 2022

Sample Final Exam


Print your official name and student number at the top of this exam and on your bluebook. Read
all directions carefully. You have the full class period, about 75 minutes, to complete this exam.
There are several choices on this exam – choose well. Partial credit is given. Show all of your
work! Write neatly. If we cannot read your answer it is wrong. Total points: 52.

Part A: Identification. Define 2 of the following 3 terms (3 points each, 6 points total).
1. Conditional convergence
2. Output gap
3. Menu Costs
Part B: True, False, Uncertain and Explain. Answer 2 of the following 3 questions. (8 points
each, 16 points total; all credit for your explanation)
4. The higher the interest sensitivity of investment the more effective expansionary monetary
policy in increasing output, other things equal.
5. In the sticky price model of the short-run aggregate supply curve, the greater the proportion
of flexible price firms in the economy the greater the output gain from expansionary
monetary policy.
6. A decrease in the population growth rate decreases the steady-state level of output but does
not change the steady-state growth rate of output in the Solow model.
Part C: Longer Questions: answer the following 3 questions. (10 points each, 30 points total)
7. Explain how the empirical evidence that supports the Fisher Effect also supports the Quantity
Theory of Money under the Monetarist assumption, the Classical Dichotomy and Money
Neutrality, and the Fisher Equation.
8. Suppose the economy is described by the Solow growth model, where the capital share of
GDP is 50%, 5% of the capital stock depreciates every year, the population grows at the rate
of 2% per year, and the growth rate of the efficiency of labor is 3% per year.
a. If 20% of national income is saved what is steady state capital per effective worker,
output per effective worker, and consumption per effective worker? (5 points)
b. What is the golden rule level of capital per effective worker, output per effective
worker, and consumption per effective worker? (5 points)
9. Using words and graphs analyze the macroeconomic effects of expansionary monetary policy
in the short run and the long run. Provide as much detail as possible.

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