Consider an OLG model in which N0 = 100, and the gross population growth rate is equal to n. Each individual only receives y = 100 coconuts when he is young, and nothing when old. The monetary authority
introduces either M = 1000 or M = 2000 units of gold in the first period, and distribute them equally among
the old generation in that period. Gold can be used either as the medium of exchange or consumed like a
regular commodity, and it yields a utility equal to 5 units of the endowment (~v = 5). Finally, suppose the
individual preference is such that everybody wants to save, in real terms, y
1+ vt
vt+1
.
a. (4pts) Suppose gold can only be used as money, what is the value of v
g
t
for n = 1, M = 1000 or 2000,
and t = 1 or 2.
b. (3pts) What is the rate of inflation pt+1
pt
in each case, and what is the current (c1) and future (c2)
consumption, respectively?
c. (3pts) Which case is not stable and why? What is going to happen then? After the new equilibrium
is restored, what is the amount of monetary gold and non-monetary gold, respectively?

Passport video produced a video documentary titled the definitive elvis, comprising sixteen one-hour episodes. the producers interviewed more than 200 people regarding virtually all aspects of elvis's life. passport sold the videos commercially for a profit. approximately 5 to 10 percent of the videos were composed of copyrighted music and appearances of presley on television and in movies owned by copyright holders other than passport. passport did not obtain permission to use those copyrighted works. elvis presley enterprises, inc., and other companies and individuals that owned copyrights to the presley works used by passport sued passport for copyright infringement. passport defended, arguing that its use of the copyrighted materials was fair use. the u.s. district court held in favor of the plaintiff copyright holders and enjoined passport from further distribution of its documentary videos. passport appealed.did passport act ethically in including the elvis presley copyrighted material in its video? why do you think passport video did so? has there been fair use in this case, or has there been copyright infringement?

Kate is 14 years old and just started taking dance classes with her friends at a local dance studio. this is her first time in a dance program, so everything is new to her. her friends convinced her to join the class since they have been enjoying it for a few months. how could the following terms her succeed in the dance class? ● secondary reinforcement ● identity vs. role confusion ● observational learning how could the following terms hinder her success in the class? ● circadian rhythm ● basal ganglia ● vestibular sense

What has contributed to the growth of agriculture as big business in the midwest