1.30 LecNotes

1.30 LecNotes - Admin Tuesday,January29,2008 10:18AM

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Straight from the professor's email: The exam will cover chapters 1 4 and lecture notes topics 1 and 2. The material from chapters 5 and 6 and topic 3 will not be tested until the final exam. The midterm is worth 50 points and has 9 multiple choice questions from the textbook and 5 problems that are (mostly) from my lecture notes. Tell students to read the Study Guide that goes with the book and to do the practice problems at the end of my lecture notes topics. Admin Tuesday, January 29, 2008 10:18 AM 0130 Page 1
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PRACTICE PROBLEMS [1] Problem 3. Comparative Statics The asphalt market is in equilibrium at [P*, A*]. Then 2 things happen: #1 -- the street and highway maintenance workers union negotiates higher wages. #2 -- tax revenues available for freeway and street maintenance fall. Demand {increases, decreases , isn't affected, can't tell} Supply {increases, decreases, isn't affected , can't tell} Quantity {rises, falls, isn't affected, can't tell} Price {rises, falls, isn't affected, can't tell}. As a result {circle best answer}:
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This note was uploaded on 12/05/2009 for the course ECON 88008 taught by Professor Carollfoster during the Winter '08 term at UCSD.

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1.30 LecNotes - Admin Tuesday,January29,2008 10:18AM

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