Principles of Macroeconomics: Global Financial Crisis.
Allison will graduate from high school next June. She has ranked her three possible
post graduation plans in the following order: (1) Work for two years at a consultin
Principles of Macroeconomics: 7th edition Chapter 8
Which of the following would be unemployed according to official statistics?
a. A person who is home painting the house while seeking a permanent
position as an electrician.
Principles of Macroeconomics: Global Financial Crisis Edition, 7th
edition by John B. Taylor and Akila Weerapana, South-Western, Cengage
Determine whether each of the following would be included in GDP, and
Principles of Macroeconomics: Chapter 3
For each of the following markets, indicate whether the stated change causes a shift in the supply
curve, a shift in the demand curve, a movement along the supply curve, and/or a movement alo
Principles of Macroeconomics: Global Financial Crisis Edition. Chapter 2.
Which of the following variables are studied as part of Microeconomics, and which are
studied as part of macroeconomics?
1. The U.S. unemployment rate.
Chapter 17: Oligopoly
Oligopoly: a market structure in which one a few sellers offer similar or identical
Game Theory: the study of how people behave in strategic situations
a. By strategic, we mean a situation in which each person, in dec
Chapter 14: Firms in Competitive Markets
What is a Competitive Market?
a. The Meaning
a.i. Competitive market: many buyers and sellers, and each buyer/seller
is a price taker
a.ii. Three characteristics:
Many buyers and sellers
Chapter 16: Monopolistic Competition
a. A typical firm has some market power, but not like a monopoly.
b. What are the two extremes and what lies between them?
b.i. Perfect competition: many firms, identical products
b.ii. Monopoly: one fi
Chapter 13: The Costs of Production
What are Costs?
a. Total Revenue, Total Cost, and Profit
a.i. What is the goal of the firm?
a.ii. Total revenue: the amount a firm receives for the sale of its output.
What is the formula?
a.iii. Total cost:
Chapter 15: Monopoly
a. Monopoly: a firm that is a sole seller of a product without close substitutes
b. A competitive firm is a price taker while a monopoly is a _price maker_.
Why Monopolies Arise
a. What is the main cause of monopol
Econ Final- 6:30, rm 100 Gen lectures
Exam: 65 mult choice qs, 30 from exam 1 and 2
15 MC EXAM1
15 MC exam2
10 MC chapter 15. Use quiz
10 MC chapter 16. Use quiz
10 MC CHAPTER 17
5 mc chapter 20
1 SA from E1- 15 pts
1 SA from E2- 15 pts
1 SA from chapter