Economics

THE UNIVERSITY OF THE WEST INDIES

OPEN CAMPUS

SEMESTER I

□

SEMESTER II 

SUPPLEMENTAL/SUMMER SCHOOL □

Examinations of December

□ / April/May  / July □ 2012

Course Code and Name Title: ECON1002 INTRODUCTION TO MACROECONOMICS Date: Duration ___2_______Hrs. Materials required: Answer booklet: Calculator:

(where applicable)

Time: Paper No:

 Programmable □

Normal Numerical

Special

□

Not Required □

Non Programmable Alphabetical



Included

Multiple Choice Answer Sheets:

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Auxiliary/Other material(s) – Please specify: …………………………………………………………………………………………………………… ………………………………………………………………………………………………………….... Candidates are permitted to bring the following items to their desks: …………………………………………………………………………………………………………....

INSTRUCTIONS TO CANDIDATES:  This paper has 3 pages and 7 questions.  Students are required to answer Question 1 and any other three (3) questions.

©The University of the West Indies Course Code: ECON1002 9/9/2012 ________________________________________________________________________________________

DO NOT WRITE OR TYPE ON THE BACK OF THIS SHEET: USE ONE SIDE ONLY

INSTRUCTIONS: Each page must be signed by the FIRST AND SECOND EXAMINERS. Completed forms should be handed to the Assistant Registrar (Examinations).

..................................... First Examiner Date: 9/9/2012

............................................ Second Examiner Date: 9/9/2012

Page 2

1.

You are given the following information about an economy: GDP at Market Prices Imports Gross Domestic Capital Formation Income accruing to the Public Sector Retained Business Earnings Exports Subsidies Factor Payments from Abroad Capital Consumption Allowance Income Payments to Foreigners Direct Taxes Public Sector Consumption Expenditure Indirect Taxes Transfer Payments Derive the following: (i) National Income (ii) Net Investment (iii) Personal Income (iv) Disposable Income (v) Household Consumption Expenditure $millions 6,845.97 4320.1 777.7 578.2 93.9 312.4 221.8...