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Unformatted text preview: ECO 105Y Principles of Economics for Non-Spets Winter 2009/2010 PROBLEM SETS ASSOCIATED WITH EACH LECTURE Each quotation in each Problem is created for this course. In each quotation, take a position and justify your answer. Explanations are important. The T designates a more important question, which could be selected for tutorials or tests. Problem Set for Lecture 1: About Economics and Economic Goals [Sept 15, 2009] T1.1 Adam reviews the contribution of Paul Krugman [ Reading 1.2 , Chapter 1]. Adam does not understand the message presented by Krugman about labour productivity growth and higher standards of living. :Help Adam. T1.2 Arthur reviews Krugmans chapter [ Reading 1.2 , Chapter 1] and does not understand why the American economy has let down its residents after 1973. Arthur takes the position that a market economy should always work to increase the standard of living of its citizens irrespective of whether there is a high rate of labour productivity growth or a low rate of labour productivity...
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This note was uploaded on 12/22/2010 for the course ECO ECO105 taught by Professor Hare during the Spring '08 term at University of Toronto- Toronto.
- Spring '08