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202 Prob Set 1 assign Fall 10

202 Prob Set 1 assign Fall 10 - must include an explanation...

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ECO 202, Lyons Fall 2010 PROBLEM SET I Due in class, September 7th Discussion sheet will be posted on the Bb site, September 7th. Sets to be returned with comments at review session, September 13th. Comments : This problem set gives you practice in learning the definitions of basic macroeconomic concepts and in doing (fairly straightforward) calculations related to measures of those concepts. You will likely need preliminary practice, so before you begin the assignment you should work through at least some related exercises in the textbook, the Study Guide if you have it, as well as the Aplia assignments. Please Note : At the end of each chapter there are two sets of questions – ‘Review Questions” and “Problems”, each group listed from number 1 upwards. Do not substitute a ‘review question’ for a ‘problem’ with the same number, or (less often) vice versa . *** Required questions *** For ‘essay’ questions and problems on quizzes and exams, your answer
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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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