ECMC61_summer 2011 midterm answer.docx

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Department
Economics for Management Studies
Course
MGEC61H3
Professor
Iris Au
Semester
Fall

Description
ECMC61 Midterm Answer KeySummer 2011Question 1 20 pointsPart a 15 points1 point will be subtracted for each incorrect entryABCGross domestic product600050007000Consumption336028003920Investment115014002240Government spending10401250840Current account450 4500Nonreserve portion of financial account 150330 180Official reserve transactions 300200100Capital account0 8080Part b 5 points 3 pts for showing work and providing explanationCountry KACACapital Account in Foreign WealthA450450B 530 530C8080As foreign wealthby 450 1 pt while Cs foreign wealthby 80 1 pt in Foreign Wealth KAorin Foreign WealthCACapital AccountSincein Foreign Wealth0 for A and C these two countries are net buyer of foreign assetstheir foreign wealth 1ECMC61 Midterm Answer KeySummer 2011
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