2022 Exam 1

Practice Exam:

Plan to do this practice exam on the February 12-13 weekend. You need to time yourself! Try to do it in 50 minutes just as if it were a real exam. Once the 50 minutes are up, then take all the time you want to try to get more questions, without looking at the answers. Only then should you look at the answers.

Exercises and Handouts to Help You Prepare for the Exam

  1. Make sure you have read “The Logarithmic Harmony of Percent Changes and Growth Rates"

  2. Growth Rates and Percentage Changes Powerpoint File

  3. Growth Rates and the Rule of 70 (.doc download)

  4. MV=PY, or equivalently %ΔM+%ΔV=%ΔP+%ΔY

  5. Cobb-Douglas with Constant Returns to Scale Exercise

  6. Returns to Scale Exercise (This semester you won’t need this exercise for an exam until Exam 2)

  7. %ΔQ = elasticity %ΔP; %Δ (PQ) = %ΔP+%ΔQ

  8. Supply and Demand: Elasticities and Comparative Statics

  9. Rule of 70 Exercise

  10. Comparative Statics in a Long-Run Model Exercise

Extra Practice Exam

NOTE: Since we got a little further this year, also take a look at at the last five questions in Exam 2 from last year. They are on comparative statics in the LR Model of Chapter 3:

Exams from 2018 and 2017