ECON7040 MACROECONOMIC ANALYSIS
QUIZ I
宏观经济分析代写 Instructions: The submission deadline is March 22, 2021, at Midnight (Brisbane time). Students will submit their answers (pdf/word…
Instructions: The submission deadline is March 22, 2021, at Midnight (Brisbane time). Students will submit their answers (pdf/word document with the) via Blackboard. This Quiz is individual but cooperation is allowed and encouraged. When cooperation occurs, students must write at the names and student ID of the students that they cooperated with (on the top right corner of your answers’ fifile). Cooperation does not mean copying or plagiarize somebody’s else work. Answer all the questions.
1.Multiple Choice Questions: 3 marks each
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Which of the following is false about the growth facts discussed in Lecture 1? 宏观经济分析代写
A.Few percentage points difffference in average growth can make an important difffference in long-run GDP per-capita levels.
B.The post-war growth rate of GDP per-capita in developed economies is steady and close to 2%.
C.Even though there are difffferences in the evolution of GDP per-capita, all countries appear to converge to the same level of GDP per-capita.
D.Growth miracles and growth disasters exist.
2.Use the rule of 70 to predict in how many years Australian GDP per-capita will double. Assume the growth rate of GDP per-capita will be 2.8%.
A.Australia will double its GDP per-capita in 20 years. 宏观经济分析代写
B.Australia will double its GDP per-capita in 28 years.
C.Australia will double its GDP per-capita in 25 years.
D.Australia will double its GDP per-capita in 21 years.
3.Which of the following production functions displays lower substitutability between labor and capital?
- Which of the following production functions displays increasing marginal product of capital?
5.Use the transitional dynamics equation [TD] derived in Lecture 2 (kt+1(1+n) = syt+(1−δ)kt) and assume that yt = Atf(kt) = Atktα and that n = 0. Assuming that the economy reached the steady-state equilibrium (kt+1 = kt = kt∗ ), what is the steady-state level of per-capita capital k∗?
