shocks - 2025 ACF Winter - Buzzpoints App

Question

Error terms in DSGE models represent exogenous instances of these events. For 10 points each:

[10m] Name these economic events. A shift in the short-run aggregate supply curve is an example of one of these events.

ANSWER: shocks [accept supply shock; prompt on fluctuations; prompt on shortages]

[10e] A subclass of DSGE models incorporates shocks described by this adjective into a namesake class of “business cycle” models. Economic variables adjusted for inflation are described by this adjective, unlike “nominal” variables.

ANSWER: real [accept real shocks; accept real variables; accept real business-cycle theory]

[10h] DSGE models like real business-cycle models were further developed in response to this economist’s namesake “critique,” which argued that macroeconomic models wrongly treat agents’ behavioral parameters as stable.

ANSWER: Robert Lucas [accept Lucas critique]

<Editors, Social Science>

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Summary


Canada	Main	Y	6	13.33	100%	17%	17%
Florida	Main	Y	13	7.69	62%	15%	0%
Midwest	Main	Y	8	8.75	50%	38%	0%
Northeast	Main	Y	5	10.00	60%	40%	0%
Pacific Northwest	Main	Y	10	10.00	70%	20%	10%
South Central	Main	Y	5	14.00	60%	60%	20%
Upper Mid-Atlantic	Main	Y	8	8.75	50%	38%	0%
Upstate NY	Main	Y	8	15.00	88%	50%	13%
2025 ACF Nationals	2025-08-09	Y	3	3.33	33%	0%	0%

Data


UCLA B	Claremont Scripps	0	10	0	10
UCLA C	UCI	0	10	0	10
UCLA A	Claremont Pitzer	0	10	10	20
UCSB	USC	0	10	0	10
UCSD Vices and Virtues	UCSD Two Running Violet V Forms	0	10	0	10
UCLA D	UCSD What Hath God Wrought	10	10	0	20
McGill B	Carleton	0	10	0	10
McGill C	Queen's A	10	10	0	20
McMaster B	Guelph B	0	10	0	10
Toronto C	Ottawa	0	10	0	10
Queen's B	Western Ontario	0	0	0	0
Toronto A	Guelph A	0	10	0	10
McMaster A	Toronto D	0	10	0	10
Waterloo	Toronto E	0	0	0	0
Toronto Metropolitan	Toronto G	0	0	0	0
Toronto I	McMaster C	0	0	0	0
Toronto F	Toronto J	0	0	0	0
Toronto H	Toronto K	0	10	0	10
Virginia B	James Madison	0	0	0	0
North Carolina B	Liberty A	10	10	0	20
South Carolina A	Liberty B	0	10	0	10
Clemson A	Liberty C	0	0	0	0
North Carolina A	NC State	10	10	0	20
South Carolina B	Clemson B	10	10	0	20
Tusculum	Virginia Tech B	0	0	0	0
North Carolina C	Virginia Tech A	0	0	0	0
Toronto B	McGill A	10	10	0	20
Columbia A	Rowan A	10	10	0	20
Vassar A	Columbia C	0	10	0	10
Rutgers B	Princeton A	0	0	0	0
Rutgers C	Lehigh B	0	0	0	0
Lehigh A	Columbia B	10	10	0	20
Kentucky	Chicago A	0	0	0	0
Notre Dame B	Chicago B	0	0	0	0
Illinois C	Chicago D	0	10	0	10
Illinois A	Michigan B	0	10	10	20
Notre Dame C	Indiana B	10	10	0	20
Louisville A	Notre Dame A	0	10	0	10
Louisville B	Chicago C	0	0	0	0
Michigan C	Purdue C	0	10	0	10
Illinois B	Michigan D	10	10	0	20
Purdue A	Notre Dame D	0	10	0	10
St. Thomas	Minnesota B	0	0	0	0
Iowa State	Macalester A	0	0	0	0
Macalester B	Minnesota A	10	10	10	30
Carleton	Nebraska	10	10	0	20
Wisconsin	Minnesota C	10	10	0	20
Arizona State A	UCO	10	10	0	20
Tulsa	Arizona State B	0	0	0	0
Ohio	Iowa	0	0	0	0
McGill D	Northwestern B	10	10	0	20
Northwestern A	Texas B	0	10	0	10
UTD A	Rose State	0	0	0	0
Texas A	Alberta B	10	10	0	20
Northwestern C	UTD B	0	0	0	0
Auburn A	Georgia Tech A	10	10	10	30
Georgia Tech C	Bruin A	10	10	0	20
Georgia Tech B	Georgia Tech D	10	10	0	20
Alabama A	Huntsville A	0	10	0	10
Mississippi State A	Huntsville B	0	10	0	10
Sewanee A	UAB A	0	0	0	0
Vanderbilt A	Vanderbilt B	10	10	0	20
Alabama B	Auburn B	0	10	0	10
Oxford B	Cambridge D	0	0	0	0
Sheffield A	Southampton B	0	0	0	0
Durham A	Warwick A	0	10	0	10