FINAL STUDY OUTLINE new - o Blah happens what happens to...

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FINAL STUDY OUTLINE Main exam 74Q*4points each + 4 for filling in circles for last name = 300 points (Two Parts) Part I (Sections 9 & 10) 10 Questions Part II (“Cumulative” actually sections 2-5 only) 64 Questions: Some Specifics for Part II (not exhaustive) ¥ - No “chart” - Section 2 o Opportunity cost o Comparative advantage (and absolute advantage) o PPC - Supply and demand (Sections 3&4) o What Demand and Supply curves tell us o Law of demand, Law of Supply o Consumer surplus and producer surplus o The difference between a change in supply vs. a change in quantity supplied o Market Equilibrium o Elasticities (Inelastic…)
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Unformatted text preview: o Blah happens what happens to equilibrium price and quantity ( ≈ 16 Questions) o Price Floors and Price Ceilings o A tax per unit-Section 5 o Economic Efficiency o Externalities o Public goods How to study:-Do practice questions -Put them aside for a day -Do practice questions and Exam 1, Project 1, & Exam 2 questions (ignore chart questions) -Read through notes -Do practice questions and Exam 1, Project 1, & Exam 2 questions (ignore chart questions) As many times a possible ¥ This lists contains many (very very close to all) of the questions on the final exam but it is not exhaustive....
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This note was uploaded on 12/27/2011 for the course ECON 201 taught by Professor Staff during the Fall '08 term at Wisc Whitewater.

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