I am unsure of how time framed multiple choice questions are carried out, if a professor could explain that to me it would be helpful. We have between Tuesday, 27 April 2021 (18:59 EST) until Friday, 30 April 2021 (16:59 local EST) to complete the 2 hour exam within those given time frame. You as the professor will be given 1 hour and 30 minutes to provide a solution. The time and date will be decided between me and the professor. I am expecting the professor to be punctual in submitting the solution. This is a timed exam and so if the professor has not handed me in the solution within the remaining 30 minutes, my exam will be submitted automatically and it would also be an automatic fail. Word count is a guide; the questions should be answered in full detail and within the 1 hour and 30 minute (90 minutes) time frame and then sent to me well before the remaining 30 minutes. I will be checking every minute then for the solution. There will be 3 out 5 questions to be answered, 3 different topic questions which you can choose out of the 5 topic questions. There are 12 topics (attached). This is intermediate economics so the professor must be well versed in the subject area. None of these questions can be simply looked up online through Google and must be answered clearly and precisely. Each of these questions has to be answered with some thinking of what the subject and the topic is and how it relates to the question being asked. Questions are focused on US and UK context from the past or current day (whichever applies depending on the question), but you can bring in any examples you want from any country. Some questions may require you to provide graphs for fix-price and flex-price model questions (should they come up or you choose to answer), please prepare the graphs beforehand to save you time. Here are examples of the previously answered questions to give an idea of what to expect: – Oliver Blanchard called economics the ‘study of fluctuations’. Provide supporting evidence for this statement based on the economic models we have studied to date. – Britain is about to undertake a significant expansion of NHS spending while also raising taxes to pay for this new spending. Will this lead to an increase in GDP? Explain your answer with reference to the applicable theory(-ies) from this course. – Boris Johnson has said increased trade caused by Brexit will lead to GDP expansion. Let’s assume the British economy keeps expanding faster than our exports grow. Will Johnson’s statement be true? Explain your answer with reference to the applicable theory(-ies) from this course. – Over Summer 2020, the government lowered VAT on restaurant meals. Keeping in mind the role of automatic stabilisers in moderating output fluctuation, what was the purpose of lowering VAT in this way? Referencing/sources do not need to be included
