Considerando um modelo do tipo IS-LM, verifique se é Verdadeira ou Falsa a seguinte afirmação:

Item 4 - Se ocorre a armadilha da liquidez, a política econômica torna-se importante para influenciar os níveis de renda e emprego.

Assinale como verdadeira ou falsa, a afirmação abaixo:

Item 3 - !$ x^a y^{(1 -a)} > ax + (1 -a) y,\,\,x>0,\,\,y>0,\,\,0 \ge a \ge 1 !$.

Public sectors, like attics, need occasional cleaning out. Employment in the public sector gets bloated because of patronage and poor accountability. Productivity can be raised sharply by reviewing labor requirements. The immediate savings - although not always as large as they would be in Brasil, for example, where public firm pay wages far above industry averages - generally are worthwhile in most developing economies. There is also ample room for privatization. Like fashions, ideological fads change, and one can benefit from the mood of the day to sell off steel mills, airlines, or telephone companies - none of which are considered to occupy the commanding heights of capitalism (p.24).

It can be understood in that same text that:

Item 2 - Being liable to nobody Third World government are, nevertheless, responsible employers.

Assinale como Verdadeiro ou Falso a proposição a seguir:

Item 4 - A demanda real por moeda é função inversa da taxa de juros e da taxa de inflação.

Uma economia aberta com taxa nominal de câmbio flexível, expectativa de desvalorização cambial igual a zero e salários nominais rígidos para baixo, funciona de acordo com o modelo IS-LM. Suas transações com o exterior são caracterizadas por:

Importações: dependem da taxa de câmbio - quanto mais desvalorizada (ceteris paribus), menores as importações - e do nível de produto - quanto maior o produto, maiores as importações, sendo a propensão marginal a importar menos que a propensão marginal a consumir.

Exportações: dependem apenas da taxa de câmbio - quanto mais desvalorizada, maiores as exportações.

Movimento de Capitais Autônomos: depende apenas do diferencial de taxas de juros: se a taxa de juros interna for superior à externa, há entrada líquida de capitais; se for inferior, há saída.

Isto posto, responda Verdadeiro ou Falso:

Item 1 - Com mobilidade de capitais imperfeita, uma política monetária expansiva aumenta o saldo em conta corrente.

PART I

Rudiger Dornbusch, Policies to Move from Stabilization to Growth. Proceedings of the World Bank Annual Conference on Development Economics 1990, pages 19-48.

The typical stabilization program for an economy emerging from high inflation involves freezing wages and prices and making little fiscal adjustment. For the first month of two this program is successful, partly because expectations of a freeze will have led to prior price hikes. Soon the freeze wears off, however, and the deferred rise in public sector prices, the lifting of export taxes, and real appreciation combine to erode the budget position. Then, in phase two, policy-makers implement tight money. This gives an unsustainable program another few months of life, but of course it also increases public indebtedness sharply. Next, in phase three, the problems with the program become widely perceived, and debtors plead distress due to high real interest rates. When tight money goes, the house of cards collapses; the exchange rate collapses, inflation surges, and real interest rates turn very negative. Soon, another stabilization is under construction, ready for spring, tottering in the summer, and blown away by fall.

The important lesson to draw is this: tight money is not a substitute for a balanced budget. Real interest rates ultimately should be low, and the only way such a situation is sustainable is by basically sound fiscal and real exchange rate policies. Here we note that tight monetary policy is a signal of serious misalignment in the budget, the real exchange rate, or both. Realized real interest rates of 30 or 40 percent, in the presence of domestic debt, soon give rise to fiscal problems (p.26).

According to the text:

Item 2 - Typical unorthodox stabilization programs are a house of cards.

PART III

N. Gregory Mankiw, “A Quick Refresher Course in Macroeconomics.” Journal of Economic Literature, Vol. XXVIII (December 1990), pp.1645-1600.

The consensus in macroeconomics that prevailed until the early 1970s faltered because of two flaws, one empirical and one theoretical. The empirical flaw was that the consensus view could not adequately cope with the rising rates of inflation and unemployment experienced during the 1970s. The theoretical flaw was that the consensus view left a chasm between microeconomic principles and macroeconomic practice that was too great to be intellectually satisfying.

In the text above:

Item 1 - Macroeconomic theory before 1970 had two faults, one empirical and a theoretical one.

Assinale a afirmação verdadeira e a falsa:

Item 4 - Os vetores !$ \vec{u} = (1,2,3),\,\,\,\vec{u}= (0,1,2) !$ e !$ \vec{w} = (0,0,1) !$ são linearmente independentes em !$ \Re^3 !$.

PART I

Rudiger Dornbusch, Policies to Move from Stabilization to Growth. Proceedings of the World Bank Annual Conference on Development Economics 1990, pages 19-48.

The typical stabilization program for an economy emerging from high inflation involves freezing wages and prices and making little fiscal adjustment. For the first month of two this program is successful, partly because expectations of a freeze will have led to prior price hikes. Soon the freeze wears off, however, and the deferred rise in public sector prices, the lifting of export taxes, and real appreciation combine to erode the budget position. Then, in phase two, policy-makers implement tight money. This gives an unsustainable program another few months of life, but of course it also increases public indebtedness sharply. Next, in phase three, the problems with the program become widely perceived, and debtors plead distress due to high real interest rates. When tight money goes, the house of cards collapses; the exchange rate collapses, inflation surges, and real interest rates turn very negative. Soon, another stabilization is under construction, ready for spring, tottering in the summer, and blown away by fall.

The important lesson to draw is this: tight money is not a substitute for a balanced budget. Real interest rates ultimately should be low, and the only way such a situation is sustainable is by basically sound fiscal and real exchange rate policies. Here we note that tight monetary policy is a signal of serious misalignment in the budget, the real exchange rate, or both. Realized real interest rates of 30 or 40 percent, in the presence of domestic debt, soon give rise to fiscal problems (p.26).

Still according to the same text:

Item 3 - A balanced budget is all that takes to control inflation.

Still, notable differences in the natural resource base - in the “raw materials” available to the farmer upon arrival - do exist within the study area, and likely influence agrucultural production decisions both enitially and over time, making the pattern of land use more complicated than the above “cycle” scenario might suggest. Such differences alter the possible land-use “starting points” for any such “cycle”, as well as the rate of soil change, and accompanying land-use change. Some 30% of the moderately fertile of fertile plots occurred on land characterized as hilly or steep, making some land uses (annual crops or pasture) more difficult than others (e.g. perennial crops) from the beginning. For the nearly half of sample farms overall located on steep hills, deforestation can precipitate severe soil erosion (p.11).

In the paragraph above:

Item 2 - Deforestation is more severe on steep hills.