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Macro Models
A short quiz related to my sessions on Macro Models
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Which of the following are NOT an element of a DSGE model?
2 points
An assumption that the model tends toward stability
The introduction of surprise events
An assumption that action takes place in a single time period
The fact that agents make decisions based on long time horizons
Clear selection
Why are DSGE models popular with central banks?
2 points
They help to simulate the impact of climate related issues
They help to take an ecological approach to policy making
They model the impact of various shocks on key economic indicators
They provide a holistic view of the social foundations of a country
Clear selection
How do "Agent Based" models differ from a DSGE model?
2 points
They require computer software
They focus more on setting rules in which agents operate than making assumptions about a steady environment
They take a "static" approach and don't explain how things can change over time
They can be applied and used for sociological as well as macroeconomic issues
Clear selection
Who won the Simon-Ehrlich wager?
2 points
Paul Ehrlich
Julian Simon
The pessimist
The optimist
Paul Ehrlich
Julian Simon
The pessimist
The optimist
Clear selection
Who won the Nobel prize for his work on climate modelling?
2 points
William Nordhaus
Paul Krugman
Richard Thaler
Ronald Coase
Clear selection
Which of the following are part of the generally accepted view on the global climate, as presented in the talk?
2 points
Based on current activities global temperatures are expected to rise by well over 4%
Based on current activities global temperatures are expected to rise by 2-3%
We should expect a climate catastrophe unless we restrict temperature rises to 1.5%
We should expect a climate catastrophe unless we restrict temperature rises to 2%
What two things does the doughnut model unite?
2 points
Economic progress and social progress
Economic growth and the upper limits of the planets boundaries
Social foundations of human existence and an upper limit on economic growth
Social foundations of human existence and an ecological ceiling
Clear selection
Which of the following organisations did I use to show useful scorecards that go beyond economic indicators?
2 points
Legatum Institute
OECD
The Social Progress Imperative
The World Bank
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