HW#2 - Econ302 Homework Assignment 2 Due February...

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Econ302 Homework Assignment 2 Due February 19th (Problems 3, 4, and 5 in part II will be graded) Name: Section: PART I: Multiple Choice Questions 1. For which of the following goods is the market most restricted geographically? a. retail gasoline. b. housing. c. gold. d. beef. 2.Which of the following is a positive statement? 3. If the actual price were below the equilibrium price in the market for bread, a 4. From 1970 to 1993, the real price of college education increased and total enrollment increased. Which of the following would cause an unambiguous increase in the real price of college education? 5. Which of the following would shift the demand curve for new textbooks to the right?
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a. a fall in the price of papers used in publishing texts. b. a fall in the price of equivalent used textbooks. c. an increase in the population of students. d. a fall in the price of new textbooks.
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