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Each (Questions)Aggregate demand (consumption = C)GraphOutput, income (Y)C QuestionsQ General form of the consumption function: C = a + bY. Fill in only the ovals for numbersthroughon your answer sheet. DEPARTMENT OF ECONOMICS. General Examination in Macroeconomic Theory. We're on a mission to take the guesswork out of Economics revision. Some are True/False/Uncertain and are explicitly denoted as such. Q Explain the difference between autonomous and induced consumption. Part I is multiple choice. In order to match the data, the RBC model requires a AP® Economics Macro Exam SECTION I: Multiple-Choice Questions DO NOT OPEN THIS BOOKLET UNTIL YOU ARE TOLD TO DO SO. Instructions Section I of this examination containsmultiple-choice questions. The QUALITY of your explanation determines your gradeTRUE/FALSE/UNCERTAIN. Q 1 Short Questions Answer all the following questions. Indicate all of your answers to the multiple-choice questions on the answer Question(points) This question asks you to use a Solow Model to analyze what happens to an economy when a government imposes a proportional tax on output. Unsure what to focus on when it comes to revising for your Economics exams? You must answer ALL questions on the exam Each section of the exam is of equal point value. Explain and detail your answers VERY carefully. Practice Final Exam Economics The exam ishours long and hasparts. Each part should take roughlyhour. Calculate the numbers of a and b according to graph 1? Answer all questions Question(points) This question asks you to use a Solow Model to analyze what happens to an economy when a government imposes a proportional tax on output. (A) ( Economics. (A) (8 pts) To start o, assume that there is no government in the economy, so the Solow setup is completely standard. The others are direct questions. Make Practice Final Exam. AP® Economics Macro Exam SECTION I: Multiple-Choice Questions DO NOT OPEN THIS BOOKLET UNTIL YOU ARE TOLD TO DO SO. Instructions Section I of this HARVARD UNIVERSITY. SPRING You have FOUR hours. Speci cally, the economy has a production function Y = K (EL)1 The exam has three sections: microeconomics (Questions 1–3), macroeconomics (Questions 4–6), and econometrics (Questions 7–8). Thus you should spend roughlyhour on each section of the exam.