An Economic Analysis of Law

Canadian Economic History

Intermediate Macroeconomics I

Intermediate Microeconomics I

Intermediate Microeconomics II

International Monetary Theory

Introduction to Economics

Introduction to International Trade

Market Structure and Firm Behaviour

Mathematical Methods for Economists

Mathematical Methods of Economics

ffi Carleton q|r uNrvERstrY EXAil,IINATiCI.J DECEMBER 2OO2 DUEArION, 2 HQrB. i)e0a-rimeiri Name & corrse i\juroer- ECON 2102A Co-rserrst.!ctorrs' S.Ferris f.l I iS'.,.1:.nlS 92 a:rhn? zE3 vE\{r:a\rt calculators Pgrmitted Students MUST cotrnt the n.lmber of pages in this eran:ination queslron paper before beqinnrng ic wrlte. and report any discl'::anc./ to a proctor This cuesti,:n paper has ? ,jg,rs This examination qr.lestion caper MAy be taken from the exarninatjon room f n addition to this question caper, studenls reqi-l:re: a1 er?rrrn:ticn booklet ,tes / :rc J a Scantfon sheet yes J ,^,o:!/ Please answer question I and any grryof the others. All questions have equal value. Part A. Compulsory Question. Suppose that an economy canbe described as a closed modelwith four markets: goods, mone)'. bonds and labourmarkets.Considertwo versions of this economy: one whereall moneyprices areboth flexible and fully visible, andanother wherealthough prices are still flexible.workers mustform expectations of commodity prices andthese expectations remain f-ixed in the shortrun (perhaps because commodity prices canbe observed only with a lag). For these two versions of the AD/AS model: 1. a. Comparethe effects on the endogenous variables of the model following an increase in the money supplyby the Bank of Canada. That is, explainwhat clifferences arisefor real income/output,real wages, money wages and the rate of interest across the rwo models. b. Briefly' explain whv these differences arise. c. Explainrvhy the long run outcomes areidentical. d. \['hat is the point of monetary policy if the results arethe same in the long run? EC'Oi\' :102A - Econorttics Fin,tl Exan - Dec'enther 2002 Part B. Choice Section. Answer any ONE of the followingtrue, false and uncertain questions. Remember that marks will be givenonly for your explanation.If you answermore than onequestion, only the first question will be graded. 2. Both fiscal policy :rncl monetary policy are totally ineffective in the long run in rhe sense ti-r:it they have no permanenteffect on anything real in the full employmenr AD/AS model. True. false of uncertain? 3. The paradox of thnft says that while each individual can improve his/her indiviclual position by saving more, rvhenall individuals together do this, all are made worse off since the effectwill be to producea fall in real income. \fhiie this resulrs holds in rhe simple Keynesian model, it doesnot hold in the flexibleprice, full employment AD/AS model. True. false, or uncertain? 4. ). An increase in the demand for money since to get the money you need,you nncertain? (relative to bonds)always increases real income must producemore real output. True, false or An increase in the price levelthat even thoughin the absence of this all. True. falseor uncertain? worker's expect can leadto an change in expectations. prices rncrease ln monevpnces would not haveincreased at E('O,\'2102,4 - Ec'onontics Fintl Exum - Decenber 2002

ECON | 2102 | Intermediate Macroeconomics I | exam | ffi Carleton q|r uNrvERstrY EX

C.q.nlnroN UNrvnnsrrv Economics2002H Final Examination Professor: J.I.Bernstein Winter 2005 Instructions: Marks: Time: Memoranda: a) b) c) d) Do eachquestion. Exam is 2 pages. Total marks equal50. Three hours. Non-Programmable calculators allowed. The exam may be removed. 30 students Marks 12 1. A competitiveindustryconsists of 1000 producers, each with the productionfunction denoted &s, ! = 8Kt 2 l/2, wherey is output quantity, K, antd L arethe two input quantities. In the short-runK is fixed at 25 units, while I is variable. The factor price for K is $360, andthe pricefor Z is $10. Find the total product function for eachproducer. Find the short-runmarginal cost function for eachproducer. Find the short-runmarket supply function. If the market equilibrium price is $10, at the market equilibrium quantity, determinewhetherthe market equilibrium output will expandor contractin the lons run. Marks l0 2. Each firm producing in a perfectly competitive product market has the following production function. !, = Il', where y, is the output quantity and L, is the input quantity. The product market demandfunction is .r,,, : 600 - 3p where x,,, is market quantity demanded, and p is the product price. The input price is $10. There are 60 firms in the market. a) Find the profit maximizing input quantity for each firm in the short-run. b) What is the short-runequilibrium product price and product market quantity? {\Y \ Marks 6 3. Considera producer with production function y = KL +2L2 , whereK is the capital input quantity, and L is the labour input quantity. Suppose outputquantity is 10. The priceof capital is $12, and the labourprice is $54. Find the cost minimizing input levels, andthe minimum cost. Marks 10 4. a) Define the three degrees of returns to scale, discuss and demonstrate how the total, andmarginal costcurveslook in eachcase. b) Derive the output expansion path. Define normal and inferior inputs. Marks 3 5. Derive the slopeof an isoquant from a production function, and definethe marginal rate of technical substitution. Marks 9 6. Suppose that a perfectly competitive productmarket consists of 50 identicalfirms, and the shorl-run total cost function for each firm is C(y) = 192 + l2y2 where y is the output quantity for an individual firm, and 192 represents the fixed cost. a) Derive the short-run supply function for the individual firm and for the market. b) Suppose the market demandfunction is x,, : 25(130 - p) , where x,,, is matket demand. Find the short-runmarket equilibrium priCeand the profit for each firm. c) Suppose that a specifictax of $13 per unit of outputis imposed on eachfirm. Derive the new short-run market equilibrium price. (Hint, add I3y to each cost function).

ECON | 2002 | Intermediate Microeconomics I | exam | C.q.nlnroN UNrvnnsrrv Economic

W Carleton IIP UNIVERSITY FINAL EXAMINATION APRIL 2OO5 DURATION:r HOURS No. of Students: 7C Department Name & Course Number: ECON2365/HfST23054 Course Instructor(s) fr4. BELLAMy AUTHoRtzEDMEMoFANDA NOne. Students MUST count the number of pages in this examination question paper bqfore beginning to write, and report any discrepancy to a proctor. This question paper has - r- pages. This examination question paper MAY be taken from the examination room. f n addition to this question paper, students require: an examination booklet yesd nsJ, Scantron sheet yes:J no!r/ FinalExam. Winter2005 Canadian EconomicHistorvECON/HIST 2305 Part l. ldentify and notethe significance of SEVEN of the following terms.(35%) Economic Council of Canada Dominion lncome War Tax Leonard Marsh Republic of New lceland Trickle-down economics Gordon McGregor Clairtone Election of 1878 Major C.H.Douglas PART ll. Answer ONE of the following questions. (35%) Twenty yearsago, as the neo-conservative revolution beganto make its hesitant appearance in Canada, in an article entitled "'Rich by Nature, Poor by Policy': The State and Economic Life in Canada," business historian MichaelBliss arguedthat government actionhad made Canadians poorer than naturehad originally intended. Through the application of protective tariffs, directfinancial succour and the creationof crown corporations, the state had retardedthe development of an othenvise well-endowednation. State activism, Bliss vigorously maintained, had thus compromised Canada's productivity, efficiency and standard of living. ls Blissright? When answering this question, consider the consequences of the national policies and the experience of polymer corporation ltd.What factors led to the success of Polymer Corporation? Why did it succeed whereso manyothercrown corporations havefailed? Part lll. Answer ONE of the following questions. (30%) (1) The popular imageof the 1920sis one of a jubilant and prosperous time. Hence the labelthe " roaring twenties." But in reality the 1920s do not live up to this romantic image.Instead the decade1919-1929 was a period of "uneven growth". Discussin what sense this was so. Which regionsexperienced the greatest growthand the greatest downturns duringthe 1920s?What were the factors that led to regional economic disparity? When economic growthdid take place, what werethe maincauses? OR

ECON | 2305 | Canadian Economic History | exam | W Carleton IIP UNIVERSITY FINA

I:L LL W Carleton tlP UNIVERSITY FINAL EXAM INATIO N APRIL 2OO5 DURATION: r HOURS Department Name & Course Number: ECON3601 B Course Instructor(s) p. CHOUDHRI No. of Students: XA AUrHoRrzEo MEMoRANDA Non-programmable calculatorsare permitted. Students MUST count the number of pages in this examination question paper before beginning to write, and report any discrepancy to a proctor. This question paper has ,2- pages. This examination queslion paper MAY be taken from the examination roorn. In addition to this question paper, students require: an examination booklet yesdno= z. a Scantron sheet yes:f no{ eZrc Carleton University Department of Economics Economics 3601 B Winter 2005 Final Examination Instructor: E. Choudhri Duration: 2 hours Note: Answer only four out of the following five questions. l. Let the demand and supplycurves for an export industryin a country be given by: D:150-5P,S:50+5P. (a) First, suppose that the countryis small and is unable to influence the world price, which is $15.Let the country give a specific export subsidy of $5 to the industry. Calculate the net lossresultingfrom the export subsidy. Explain your calculation. (b) Now suppose the country is large andthe foreign pricefalls from $15 to $13 afterthe $5 export subsidy. Calculate the net loss for this case. Explain whv it is different than that in part (a). 2. Assumethe Hechscher Ohlin model, and let the home countrybe capitalabundant. Suppose that that thereis an increase in the stock of capitalin the foreign country. Examinehow this change will affectthe following variables: (a) the foreign relatrve supplycurve, (b) the home terms of trade, (c) homecountry's welfare. 3. For a small country, cana case be made for an importtariff as a first-best policy? Discuss. 4. Suppose that the home countrymakes an incometransfer to the foreign country.Assume that home marginalpropensity to spend on its exportgood is higher than the foreign rnarginal propensity to spend on the good.How would the transfer affecthome country's welfare in the standard model?Will your answer change if you usedthe Ricardian model instead of the standard model?Explain briefly. 5. True or False. Indicate whether the statement is true or falseand explainyour answer. (a) Home economic growth will reduce a country's welfare if it worsens the country's termsof trade. (b) An import quotawill reduce a country'swelfareif foreigners get quotarent.

ECON | 3601 | Introduction to International Trade | exam | I:L LL W Carleton tlP UNIVERSI

W Carleton rq$t t,tutvER5lrY ) DURATION: " .-l0l-if,ir DeDartment Namc 'r. CoL;r"st, Cou;'se Instructcrt,s) 5 EXAMiT'IATiON DECEMBER 2OO2 IrCON 3204A No. of Students: 70 N uinbei' Ircrris CalculatorsNO f Pemritted Students flLiST couni the irurnber of pagcs in ihis examination queslion paper before beginning to write, and report any discrepancy to a proctor. This questirrn paper has I Pug""' This exarninat;on question paper MAY be taken from the examination room. In addition io this question papef, siudents require: an examination booklet yes{lz- noll a Scanlron sheet yesU norgz- Pleose onswer onytwo (?) of the following questions, I Most economic models emphosize lhe voluntory noture of choice in economic morkets, Under someconditions, however, ogents occept constroints on themselves os o !\oy of ochieving more of the goins from trode, Exploin in some detoil one of these coses by illustroting how coercion con enhonce the outcome forthe ogent occepting the constroint, Use the multidimensionolity of controcts to exploin why under zero tronsoctions costs no porficulor controct isnecessorily inferior to ony other. Would the some orgument opply to economic institutions? Exploin, Whot lessons con be leorned fromfhe use of such theoretic exonlples? Describe in somedetoil two exomples of howproblems of quolity con be resolved, Whot is 'he generol problem thot <rrises ond whot would go inioo evoluotion of your two olternotives? Apply the concepts of the signolling/screening literoture to doting (i,e,, courlship), Are the notions developed to exploin chorocteristics of educotion opplicoble to soc ol behoviour? Exploin your reosoning, Whot orethe economic issues roised inthe problem of mechonism design ond illustrote how these issues ore deoltwith by opplying them to one podiculor problem. 2. 3 4 5, ECAN 3201A - Ec'ottotnics Finat Exant - Decanrber 2002

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