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23 Sep 2018
1.Give two reasons explaining why real per capita GDP, even if measured accurately, is not a perfect measure of economic well-being. Write no more than 2-3 sentences.
2. âWhat do we achieve by plotting the time series of ln (natural log) of a variable, instead of the variable itself? Explain
3. What do we call business cycles (5-7 words)?
4. Name two changes in economic environment that are commonly believed to lead to recessions. For each of them, provide a brief intuitive explanation (2-3 sentences) for why this particular change may slow down the growth of real per capita GDP.
5. What do we mean when we say that a variable is âprocyclicalâ (5-7 words)? âââ
1.Give two reasons explaining why real per capita GDP, even if measured accurately, is not a perfect measure of economic well-being. Write no more than 2-3 sentences.
2. âWhat do we achieve by plotting the time series of ln (natural log) of a variable, instead of the variable itself? Explain
3. What do we call business cycles (5-7 words)?
4. Name two changes in economic environment that are commonly believed to lead to recessions. For each of them, provide a brief intuitive explanation (2-3 sentences) for why this particular change may slow down the growth of real per capita GDP.
5. What do we mean when we say that a variable is âprocyclicalâ (5-7 words)? âââ
Deanna HettingerLv2
25 Sep 2018
