Nobel Laureates
Models
Exam Questions
US Federal Reserve
NYU Econ
100
Who of the following was NOT a Nobel Prize winner?
a) John Maynard Keynes b) Paul Krugman c) Franco Modigliani d) James Tobin
a) John Maynard Keynes
100
Intersection of demand and supply
Equilibrium
100
Which area(s) make up the deadweight loss?
C + E
100
Current chairperson of the Fed
Jerome Powell
100
NYU Economics Advisor
Andrew Whitney
200
The year John Forbes Nash (pioneer of Nash Equilibrium) won the prize
a) 1976 b) 1981 b) 1985 d) 1994
d) 1994
200
Formula for GDP
Y = C + I + G + (X-M) --> Output = Consumption + Investment + Government Spending + Net Exports
200
What is the Federal Funds Rate?
The target rate at which banks borrow money from the Fed
200
Which president signed the Federal Reserve Act into law?
President Woodrow Wilson
200
You must take one of these three 200 courses as an NYU Econ Major. List at least two.
1) Urban Econ 2) Money & Banking 3) International Economics
300
One of the three winners this year for the Economics Nobel Prize.
Joshua Angrist, David Card, and Guido Imbens
300
Quantity Theory of Money
MV = PT
Money Supply * Velocity of Money = Prices * Transactions
300
Which country is best known for its aging population dynamics?
Japan
300
Number of years Federal Reserve Board members can serve
14 years
300
The address of the NYU Econ building
19 West 4th Street
400
Name the Nobel Laureate winner at NYU Econ!
Paul Romer (2018)
400
What is this model called?
Edgeworth Box
400
What is the Cobb-Douglas Production Function?
Y = A * KaLb
400
How did the Federal Reserve contribute to the 1920 Depression after WW1?
Fed increased interest rates in hopes of combatting inflation, resulting in a massive economic recession
400
Most Econometrics courses use what programming language?
R
500
Which laureate said the following: "One of the great mistakes is to judge policies and programs by their intentions rather than their results."
Milton Friedman (1976)
500
The name of this model
Solow Growth Model
500
What are the benefits of using a log scale over a linear y-axis? Hint: think Solow
Log scales preserve growth rates in relative levels and ratios between model elements
500
First woman appointed as chair of the Federal Reserve in the United States (2014)
Janet Yellen
500
What are two Stern courses that count as a 200 level Econ elective?
Data Bootcamp and Foundations of Finance