1. Define the following economic terms:
b) Deflationary Gap
Use diagrams and/or examples where appropriate.
2. From 2013/14 Exam Paper (Semester II)
Using game theory, illustrate the incentives for oligopolists who can collude.
3. Do you think that GDP is an underestimate or an over estimate of the level of
economic activity in Ireland? Support your answer.
4. From 2011/12 Exam Paper (Semester I)
Explain how it is possible for the banking sector to create purchasing power and the
factors that determine the amount of (or the limits to) the amount of purchasing
power that they can create. Make reference to Ireland as appropriate.
5. From 2011/12 Exam Paper (Semester II)
‘Ireland is described as a small open economy and this affects the government’s
ability to influence the level of aggregate demand in the country’.
Explain how this statement might influence fiscal policy implementation in Ireland.
can you answer each question with a graph and text please and label each graph appropriately. You completed a paper for me 2 weeks ago so can you use the same style graphs in this assignment please.
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