SMITH EXAM sample

SMITH EXAM sample - H One of the main groups in a...

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SMITH EXAM === ECON 80A/189 ___ rent ___ social division ___ wages ___ market price ___ wealth ___ duty of the sovereign A Something that a miser loves to run his fingers through B A desire to truck, barter and exchange along with taking care of #1 lead here C More like a stop-go indicator, as it varies from low to high D Prices charged by vegetable vendors at a typical Farmer s Market E Certainly not to behave like Saddam Hussein F In a sense, these payments don t need to be made G The volume of output (mostly physical goods) are what this is all about
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Unformatted text preview: H One of the main groups in a university, along with the sciences and humanities I National defense is one among three J This is extremely high in desirable locations like Santa Cruz K The lower limit is often determined by social necessity L What something really costs Discuss the following statements in 3 to 4 sentences: 1 According to Smith, the Mercantalists were wrong on two fundamental issues. 2. Individuals, just like nations, will be better off trading among each other. NOTE: following the Smith exam, the exam for 189 will involve specific items from the class reader. These items should be of interest to 80A students as well, but are not "required." More on this in class....
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This note was uploaded on 09/18/2011 for the course ECON 80a taught by Professor Kaun,d during the Spring '08 term at UCSC.

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