Review_Questions_Chapters_17__18.docx

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Department
Economics for Management Studies
Course
MGEC61H3
Professor
Iris Wu
Semester
Winter

Description
ECMC61International Economics FinanceReview QuestionsChapters 1718Chapter 17Output and the Exchange Rate in the Short RunQuestion 1 Problems 2 Short run analysis onlyQuestion 2 Problems 4Question 3 Problems 8 Short run analysis onlyQuestion 4A tax break will increase output and deteriorate the current account in the short runDiscussQuestion 5A small open economy can be described by the following equationsDD equation Y27900G800P500EMSePAA equationY3000101000E500E1323Longrun output level Y9KLFENote Exchange rate is quoted as EKeep your answer to 4 decimal pointsDCFCaThis economy has 64000 units of capital and 1000 workersIn addition the level of nominal money supply is 26250 while the level of gover
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