Which of the following do development economists NOT recommend to nations seeking to increase their rates of economic growth?
A. letting creative destruction run its course
B. protecting home producers from international competition
C. promoting private property rights
D. promoting increased education
Answer: B
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Carefully explain the difference between forecasting variables separately versus forecasting a vector of time series variables. Mention how you choose optimal lag lengths in each case
Part of your essay should deal with multiperiod forecasts and different methods that can be used in that situation. Finally address the difference between VARS and VECM. What will be an ideal response?
Exchange rates are important because
A) They affect the affordability of imports B) they make exports either more or less expensive for foreign buyers C) They affect the value of foreign assets and their returns D) all of the above
The theory that nominal exchange rates are determined so that the law of one price holds is called:
A. the fixed-exchange-rate rule. B. purchasing power parity. C. the law of supply and demand. D. the equilibrium principle.
If real money demand increases 5% and real money supply increases 10%, by about how much does the price level change?
A. Unchanged B. Rises by 5% C. Rises by 2% D. Falls by 5%