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Intermidiate Macroeconomics Question Paper

Intermidiate Macroeconomics

Course:Bachelor Of Commerce

Institution: Kenyatta University question papers

Exam Year:2008

KENYATTA UNIVERSITY
INSTITUTE OF OPEN LEARNING
UNIVERSITY EXAMINATIONS 2007/2008
EXAMINATION FOR DEGREE OF BACHELOR OF COMMERCE

AEC 202: INTERMEDIATE MACROECONOMICS
DATE: FRIDAY, 11th JANUARY 2008 TIME: 10:30 AM - 12:30 PM

INSTRUCTIONS:
Answer question one and any other two questions

QUESTION ONE
(a) What are the effects of a contradictory monetary policy in an economy facing the liquidity trap? (12 marks)
(b) What are the possible effects of devaluation of the local currency? (8 marks)
(c) Explain how classical economics intends to do in order to solve unemployment problems.
(10 marks)

QUESTION TWO
(a) Using well labeled diagrams, explain the Mundel- Fleming model for an open economy with a fixed exchange rate. (20 marks)

QUESTION THREE
(a) There are divergent views on the determination of interest rates by both the Keynesians and the classics, explain their views and give a contrast. (13 marks)
(b) Derive the fiscal multiplier for an open economy with autonomous investments(7 marks)

QUESTION FOUR
(a) Explain the effectiveness of fiscal policy on the three ranges of the LM curve.
(10 marks)
(b) Explain the pillars of classical macroeconomic model. (10 marks)

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