Econ 201 Quiz #2

# Econ 201 Quiz #2 - Gs"v:n-sll^E e-tJ-Name and euiz section...

• Test Prep
• 2
• 100% (6) 6 out of 6 people found this document helpful

This preview shows page 1 - 2 out of 2 pages.

Name Gs"v-:n---sll^E e-tJ------ euiz section and rA name -AD---- Quiz2 Econ 201A Spring 2010 Please circle only oneanswer. Total points : 30 Questions 1-7 pertain to the following scenario: The economy of Vino produces two goods: wine and wine barrels. Wine ba:rels areconsidered investment goods' There are 1000 workers in this economy. Each worker can produce 30 gallons of wine or I wine barrel in a year' A gallon of wine is priced at \$50. Eath worker is paid Sioooin wagls per year. cunently 900 workers produce wine and 100 remaining workers produce wine barrels. The"government in this country buys l0,0\gallons of wine. The rest of the wine produced is purchased by househ"olds/workers. /\ I I. (,Vino 1) The price of a wine ba:rel in this economv is: \ ,/a. \$50 b. \$1s0 c. \$500 1500 wtno ?) 9l* :colomy of Vino, the value consumption, investment, and government expenditures are: "A.C: \$1350K, I= \$150K, G = \$100K b. C: \$1350K, I: \$150K, G: \$50K -'.CZ \$850K, I: \$150K, G: \$100K W: \$850K, I: \$150K, G: \$500K V ^lYy:_3) The value of National lncome in this economy is: )8fr.* 1 q\$1550K ; _, - ,(-.tw t \r>nr^trt .' --w* b,,\$lsooK Ibcsr ttov- t\oooo ,x.xyu/ Astssor

Subscribe to view the full document.

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern