ECON 1002 (2 Viewers)

[ToO LaZy ^*]

did anyone else get
a. 3625
b. 785 (i have a feeling im doing this wrong )

for q4?

EDIT: ignore b.
...ignore a. too

 

[ToO LaZy ^*]

only if we're having cyber afterwards.

 

[kow_dude]

I got:
4a) 2416.66

b) 3,889.99

~Urgh.... looks wrong

EDIT: if you havent noticed already, X = 50 - 0.02Y, as it was changed this morning.

 

[kow_dude]

I did a mistake for national saving. I got 343.33 now

 

[frodo]

can anyonie give me a clue as to how to do question 4?

 

[kow_dude]

i dont know as to whether the "x" should be treated as net exports. I emailed atta and he said "Write down the definition of NX and your question will be answered."

 

[frodo]

thanks bro, i got it now

 

[xiao1985]

you should say "brother"lolz

omg, was so tired 2dai, didn't get any of the stuff atta was talkin abt...
damnit, shud stat revising on econ soon, otherwise i'd taste the wrath of econ mid sem test... =(

 

[ToO LaZy ^*]

mid sem is only 10 multiple guess questions yeah yeah??..


kow dude- it makes sense now, if you are give only 'x', it means that net exports would be positive ie X>M. if you were given a value for M, then M>X.
so the formula for gdp still follows: C + I + G + NX (or just x in this case)

 

[kow_dude]

mid sem is only 10 multiple guess questions yeah yeah??..


kow dude- it makes sense now, if you are give only 'x', it means that net exports would be positive ie X>M. if you were given a value for M, then M>X.
so the formula for gdp still follows: C + I + G + NX (or just x in this case)

Yes, there's 10 multiple choice questions.

I think question 4 is stupid. It's assuming that imports equals zero which is unrealistic in an economy. If X > M, without assuming import is 0, then net exports should be written as NX in the question, not just X.
... i don't think i just made sense. :S

 

[Rorix]

I think question 4 is stupid. It's assuming that imports equals zero which is unrealistic in an economy.

Dude, of course a first year macro course is going to have things which are unrealistic in the economy. In fact, most of what Atta teaches is unrealistic in the economy or an incomplete picture. Is this because Atta's bad, or that the content would be too complex? Who knows. The economy is a complex thing.

The point is not realism, but whether or not you can apply the theory that you are being taught. If the accounting exam says "correct the mistakes made by the previous accountant", do you protest that "no accountant could be that useless?"

Nothing turns on the above, regardless, because X as given must mean NX. Ignoring the economic theory of imports being procyclical and so on, what are exports, as you claim, equal to when Y=3000? A negative number? Does that make sense if X-> exports?

 

[sarevok]

It's kind of strange that 1a) and 1b) are both worth 5 marks..

most of the stuff i've said in b) has been directly from a) anwyay :S

 

[ressul]

NationalSaving

So what's the equation for national saving? The book says that equals to saving plus NT-G, how do we get transfer payments?

 

[kow_dude]

From memory, NT = T - transfer payments.


Also, about my previous post about question 4 not explicitly assuming that M = 0. Since NX = X - M, it is obvious that M has to = to 0 for X to be "net exports" as written in the question.

 

[ressul]

How do we get transfer payment? Any clue from the question?

 

[kow_dude]

I'm confused. Are you referring to question 4?

 

[sarevok]

Fuck this accelerator coefficient question >=|

 

[Rorix]

From memory, NT = T - transfer payments.


Also, about my previous post about question 4 not explicitly assuming that M = 0. Since NX = X - M, it is obvious that M has to = to 0 for X to be "net exports" as written in the question.

That is only if X = exports. Atta has the bad habit of referring to X as net exports.

 

[xiao1985]

in the lec, he's implying that NX = X - M, but since X = NX, then M = 0 me thinks...

omg can't believe econ asgmt is due in 72 hrs... i am yet to start =(

 

[5c]

72hrs?? T_T
oh well.. it does help us study for our exams... [a bit neway]

can someone please explain da Accelerated theory? i cant find nethin in da textbook... and he's onli got a little bit on this theory in his lect. notes...
i did a google search but i dnt realli get it....