Show the output of the following code:

ArrayList<String> list = new ArrayList<>();
list.add("New York");
ArrayList<String> list1 = list;
ArrayList<String> list2 = (ArrayList<String>)(list.clone());
list.add("Atlanta");
System.out.println(list == list1);
System.out.println(list == list2);
System.out.println("list is " + list);
System.out.println("list1 is " + list1);
System.out.println("list2.get(0) is " + list2.get(0));
System.out.println("list2.size() is " + list2.size());

What two things does GDP measure? How can GDP measure two things at once?

According to the theory of purchasing-power parity, if Japan has low inflation and Mexico has High inflation, what will happen to the exchange rate between the Japanese yen and the Mexican peso?

Explain the impact of an increase in the money supply in the short run and in the long run.

Consider an economy with the following Cobb-Douglas production function: $Y=5 K^{-1 / 3} L^{2 / 3}$.

Derive the equation describing labor demand in this economy as a function of the real wage and the capital stock.

If a small open economy bans the import of Japanese video game systems, what happens to saving, investment, the trade balance, the interest rate, and the exchange rate?

Let S² be the sample variance of a random sample of size n from N(μ, σ²). Show that the limit, as n → ∞, of he mgf of S² is

$$e^{σ^2t}$$

. Thus, in the limit, the distribution of S² is degenerate with probability 1 at σ².

Let's examine how the goals of the Fed influence its response to shocks. Suppose that in scenario A the Fed cares only about keeping the price level stable and in scenario B the Fed cares only about keeping output and employment at their natural levels. Explain how in each scenario the Fed would respond to the following.

An exogenous decrease in the velocity of money.

Describe the possible effects of falling prices on equilibrium income.

The sticky price explanation of the short run aggregate supply curve say that when the average price level rises...

Suppose an economy has the Phillips curve $\pi=\pi_{-1}-0.5(u-5)$. a. What is the natural rate of unemployment? b. Graph the short-run and long-run relationships between inflation and unemployment. c. How much cyclical unemployment is necessary to reduce inflation by 4 percentage points? Using Okun's law, compute the sacrifice ratio. d. Inflation is running at 6 percent. The central bank wants to reduce it to 2 percent. Give two scenarios that will achieve that goal.

How does endogenous growth theory explain persistent growth without the assumption of exogenous technological progress? How does this differ from the Solow model?

In the Solow model, how does the rate of population growth affect the steady-state level of income? How does it affect the steady-state rate of growth?

In the Solow model, how does the saving rate affect the steady-state level of income? How does it affect the steady-state rate of growth?