You are given the following information about an economy:
Gross private domestic investment = 40
Government purchases of goods and services = 30
Gross national product (GNP) = 200
Current account balance = -20
Taxes = 60
Government transfer payments to private sector = 25
Interest payments from government to the domestic private sector = 15
(assuming all interest payments by the government go to domestic households)
Factor income received from the rest of the world = 12
Factor payments made to the rest of the world = 14
Find the following, assuming that government investment is zero.
(1) Consumption (5 分)
(2) GDP (5 分)
(3) Net export (5 分)
(4) National saving (5 分)
Under each of the following cases, use the AD-AS framework in a closed economy to
analyze whether or not money is neutral in the both short run and long run,
respectively?
(1) The basic classical model (10 分)
(2) The Keynesian model (10 分)
(3) The extended classical model with misperceptions (10 分)
Define and explain the economic significance or relevant argument for any Two of the
following: (20 分)
(1) Ricardian equivalence
(2) Lucas critique
(3) Real business cycles
(4) Nominal rigidities
(5) Purchasing power parity
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