Unformatted text preview: must include an explanation of your procedures and why you have arrived at your conclusion; simply drawing a diagram or making a table, even if correct, will not be a satisfactory answer. The same criterion applies to problem sets. In addition, you will gain much by working on the “review questions” in the text, and by attempting additional questions not to be handed in, such as those suggested below. Textbook questions Chapter 4, pages 120–122: Problems 3, 5, 6, 7 Chapter 5 , pages 149–151: Problems 1, 6, 9 Chapter 6 Problem a) : If ‘average labor productivity’ is falling over time, is it possible for ‘average living standards’ to rise? Pages 182–184: Problems 2, 6 Recommended additional practice problems: (Do not submit.) Chapter 4, Review question 2; Problem 2 Chapter 5, Review questions 1, 3 (p. 148); Problems 2, 10 Chapter 6, Review question 4 and Problems 7, 8...
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- Spring '08
- NORMMILLER
- Lyons, Basic Macroeconomic Concepts, ‘average labor productivity
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