note_2 - Econ 102 Spring 2011 TA Note for Week 2 Sangyup...

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Econ 102 Spring 2011 TA Note for Week 2 Sangyup Choi([email protected]) Note : common mistake students make on the exam production function has CRS property. Thus he multiplied 2 to A(technology), K(capital), L(labor). What was the critical mistake he made? Exercises 1. What happens to US GDP if import of cars from South Korea increases? (Ceteris Paribus) 2. Which of the following is the case that real wage falls down? d (a) legislation for child labor (b) expected earlier retirement by work out (c) decrease in household±s asset holding (d) all of the above. 3. Use graph of the production and labor market to show how each of the following a/ect current level of US employment, real wages, and real output. (a) Diplomatic con²ict with Saudi Arabia but expected to be solved soon real wage decreases, employment decreases, output decreases (b) Invention of new method of nuclear power real wag
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This note was uploaded on 10/23/2011 for the course ECON 102 taught by Professor Serra during the Spring '08 term at UCLA.

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note_2 - Econ 102 Spring 2011 TA Note for Week 2 Sangyup...

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