Economics 2B, ECON2002
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Economics 2B, ECON2002
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Part 2 (50%)
Answer 2 questions out of four
9. Assume a country has presidential elections every three years. If a political business cycle exists in this country, explain any differences in the average annual growth rates of output for each year of a typical administration.
10.Explain what central banks can do when they encounter a liquidity trap and cannot use conventional monetary policy.
11.Explain how a reduction in the proportion of contracts that are indexed affects the relationship between changes in the unemployment rate and inflation.
12. Suppose the interest parity condition holds and that the domestic interest rate is greater than the foreign interest rate. What does this imply about the current versus future expected exchange rate? Explain.
2022-08-15