ecn 160A-HW1

ecn 160A-HW1 - ECN 160A International Microeconomics Ina...

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ECN 160A International Microeconomics University of California - Davis Ina Simonovska Fall 2010 Assignment 1 (Maximum Points: 100) Due Tuesday, October 5, at the beginning of class. Problems (Total 78 points) Chapter 2, pages 58-59 in text Problems 6, 7, 9, 10, 11, 12 Multiple-Choice Questions (Each question is worth 2 points, Total 22 points) Answer questions 1-3 based on the following PPF. 1. The relative price of S (in terms of T), P S /P T , is (a) 2. (b) ½. (c) 500. (d) 1000. 2. The relative price of T (in terms of S), P T /P S , is (a) 2. (b) ½. (c) 500. (d) 1000. 3. If the relative price of T were to increase, then the price line would (a) shift out in a parallel fashion. (b) shift in a parallel fashion. (c) become steeper. (d) become flatter.
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4. In autarky, when a country maximizes its utility, its consumption point is (a) below the production possibility frontier. (b) on the production possibility frontier. (c) above the production possibility frontier.
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This note was uploaded on 03/29/2011 for the course ECON 160A taught by Professor Mojaver during the Fall '08 term at UC Davis.

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ecn 160A-HW1 - ECN 160A International Microeconomics Ina...

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