ECON482 Midterm: ECON 482 UofA E482Midterm 09
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You have 50 minutes to do this exam. The number in brackets next to each question indicates the maximum number of marks that can be earned on that question. There are 100 marks in total (two marks per minute). No notes or other material (including all types of electronic devices) may be consulted during the exam. M = money supply, y is a positive constant, u, , m = mean zero independently distributed random variables. is the expectation based on knowledge of the structure of the model and all te period t information. Find expressions for the equilibrium values of tp and ty as functions of exogenous variables and parameters only. Pt or yt. treat mt as exogenous since it does not depend on either. S landon 2009 (10) (10) (10) (10) (10) Consider an individual who lives for an infinite number of periods (t = 0,1,2,3,4, ). The utility function of the individual in period t is u(ct).
