QUESTION 8

1. 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.

QUESTION 9

1. 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.

The level of employment is _____ in each period. (how many people are employed each period)

QUESTION 10

1. 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.

The unemployment rate in this economy is ______%.

QUESTION 11

1. In an OLG model with money:

Each gen picks 12 bananas when young, 4 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.

QUESTION 12

1. In an OLG model with money:

Each gen picks 12 bananas when young, 4 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 banana = $______.

QUESTION 13

1. In an OLG model with money:

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

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

The nominal GDP of this economy is $_____.