代做ECON 2020 Homework代做Statistics统计

日期：2024-04-11 05:48

ECON 2020 Homework

1.   (Total: 3 points) The following table contains 2009 labour data for Baltivia. Round answers to two places after the decimal when necessary.

Number of adults	20,000
Number of adults who are paid employees	8,000
Number of adults who work in their own businesses	2,600
Number of adults who were temporarily absent from their jobs because of an earthquake	400
Number of adults who do not have a job, are available for work, and have tried to find a job within the past four weeks	1,600
Number of adults who do not have a job, are available for work, but have not tried to find a job within the past four weeks	780
Number of adults who are full-time students	3,000
Number of adults who are retirees	3,620

(1). How many people were employed in Baltivia in 2009? (0.5 point)

(2). How many people were unemployed in Baltivia in 2009? (0.5 point)

(3). How many people were in Baltivia’s labour force in 2009? (0.5 point)

(4). How many adults were not in Baltivia’s labour force in 2009? (0.5 point)

(5). What was Baltivia’s unemployment rate in 2009? (0.5 point)

(6). What was Baltivia’s labour-force participation rate in 2009? (0.5 point)

2.   (Total: 1 point) As the U.S. economy approached the millennium, January 1, 2000, many people cautiously began to hold larger than normal quantities of currency relative to demand deposits as protection against a possible disruption of banking services that could result from computer glitches.

(1). Ceteris paribus, how did this greater preference for currency affect the money supply? (0.5 point)

(2). Please name one action that the Federal Reserve (the U.S. central bank) can take to offset

such an increase in currency preferences to make the money supply back to its original level. (0.5 point)

3.   (Total: 1 point) Assume that the monetary base (B) is $100 billion, the reserve–deposit ratio (rr) is 0.1, and the currency–deposit ratio (cr) is 0.1.

Round answers to two places after the decimal when necessary.

(1). What is the money supply? (0.5 point)

(2). If rr changes to 0.2,but cris 0.1 and B is unchanged, what is the money supply? (0.5 point)

4.   (Total: 1 point) If the demand for money depends positively on real income and depends inversely on the nominal interest rate, what will happen to the price level today, if the central bank announces (and people believe) that it will decrease the money growth rate in the future, but it does not change the money supply today? Why?

5.   (Total: 6 points) Assume that GDP (Y) is 5,000. Consumption (C) is given by the equation C = 1,200 + 0.3(Y - T). Investment (I) is given by the equation I = 1,500 - 50r, where r is the real interest rate. Taxes (T) are 1,000 and government spending (G) is 1,500. Round answers to two places after the decimal when necessary.

(1). What are the values of private saving, public saving, and national saving? (1.5 points)

(2). What are the equilibrium values of r? (0.5 point)

(3). Consider a scenario where a new government has been elected, and households have expressed confidence in this administration. As a result of this increased confidence, they have a desire to consume more goods and services (you may interpret this as an upward shift in the consumption  function), all else being equal. Using the long-run model of the economy developed in Chapter 3, state in wordshow this increase in consumption will affect equilibrium S (national saving), I, and r. Graphically illustrate the impact on S, I, andr. Be sure to label: i. the axes; ii. the curves; iii. the initial equilibrium values; iv. the direction curves shift; and v. the terminal equilibrium values. (4 points)

6.   (Total: 5 points) The country of Leverett is a small open economy. Suddenly, a change in world fashions makes the exports of Leverett unpopular, all else being equal.

Answer the following questions about national saving (S), domestic investment (I), net exports (NX), export (Ex), import (Im), and the exchange rate (ε) in Leverett.

(1). How will this sudden change affect S, I, NX, and ε in Leverett? (2 points)

(2). How will this sudden change affect Ex and Im in Leverett? What are the mechanisms that lead to the changes in Ex and Im? (1 points)

(3). Now assume that the fiscal policymakers of Leverett want to adjust taxes to maintain the real exchange rate at its previous level. Should they decrease or increase taxes? How this change in tax will affect S, I, and ε in Leverett? (2 points)

7.   (Total: 5 points) The country of Leverett is a small open economy. Suddenly, there is an investment boom in a foreign large economy, all else being equal. Note that this investment boom happens in foreign country, not in Leverett.

(1). Graphically illustrate how this change will affect the world interest rate r*. Be sure to label: i. the axes; ii. the curves; iii. the initial equilibrium values; iv. the direction curves shift; and v. the terminal equilibrium values. (2.5 points)

(2). Graphically illustrate how this change will affect the real exchange rate ε in Leverett. Be sure to label: i. the axes; ii. the curves; iii. the initial equilibrium values; iv. the direction curves shift; and v. the terminal equilibrium values. (2.5 points)

8.   (Total: 3 points) A series of realized inflation rates is 1 percent, 2 percent, and 4 percent, while nominal interest rates in the same three periods are 5 percent, 5 percent, and 6 percent, respectively.

(1). What are the expost real interest rates in the same three periods? (1.5 points)

(2). If the expected inflation rate in each period is the realized inflation rate in the previous period, what are the ex ante real interest rates in periods two and three? (1 point)

(3). If Dr. Macro lends in period two, based on the ex ante inflation expectation in part (2), will Dr. Macro be pleasantly or unpleasantly surprised in period 3 when the loan is repaid? Note that Dr. Macro is the lender (/creditor). (0.5 point)