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SOLUTIONS MACROECONOMIC THEORY Term Test #2

Page 1 of 14 Department of Economics Prof. Gustavo Indart University of Toronto June 25, 2012 ECO 209Y L0101 MACROECONOMIC THEORY Term Test #2 LAST NAME FIRST NAME STUDENT NUMBER INSTRUCTIONS: 1.

C) the more effective will both monetary and fiscal policy be. D) the more effective will monetary policy be and the less effective will fiscal policy be. E) the less effective will monetary policy be and the more effective will fiscal policy be. 7. Consider the IS-LM framework in a fixed-price model of the economy. Any point below the

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