QUESTION 1

In an OLG model with money:

Each gen picks 12 banans when young, 0 bananas when old.

Central bank prints out 2 units of money, given to gen 0 for free.

In equilibrium, 1 money = ______ bananas.

10 points

QUESTION 2

In an OLG model with money:

Each gen picks 12 banans when young, 0 bananas when old.

Central bank prints out 2 units of money, given to gen 0 for free.

The population of this economy is ______ in each period.

10 points

QUESTION 3

In an OLG model with money:

Each gen picks 12 banans when young, 0 bananas when old.

Central bank prints out 2 units of money, given to gen 0 for free.

The number of people employed in each period is ______.

10 points

QUESTION 4

In an OLG model with money:

Each gen picks 12 banans when young, 0 bananas when old.

Central bank prints out 2 units of money, given to gen 0 for free.

The unemployment rate of this economy is ____% each period.

10 points

QUESTION 5

In an OLG model with money:

Each gen picks 12 banans when young, 0 bananas when old.

Central bank prints out 2 units of money, given to gen 0 for free.

The real GDP of this economy is ______ bananas each period.

10 points

QUESTION 6

In an OLG model with money:

Each gen picks 12 banans when young, 0 bananas when old.

Central bank prints out 2 units of money, given to gen 0 for free.

The price level of this economy is 1 bananas = ______ money.

10 points

QUESTION 7

In an OLG model with money:

Each gen picks 12 banans when young, 0 bananas when old.

Central bank prints out 2 units of money, given to gen 0 for free.

The nominal GDP of this economy is $______ each period.

10 points

QUESTION 8

In an OLG model with money:

Each gen picks 12 banans when young, 4 bananas when old.

Central bank prints out 2 units of money, given to gen 0 for free.

In equilibrium, 1 money = ______ bananas.