Econ 162-A1, A2
Spring 2015
Kenny Christianson
due: February 13
PROBLEM SET NUMBER TWO
1. Suppose that Sweetland Bakery can produce either brownies or cookies. The
production of one pound of brownies requires two cups of chocolate and one cup of flour.
To

Econ 162-A1, A2
Spring 2015
Kenny Christianson
due: February 6
ANSWER KEY - PROBLEM SET NUMBER ONE
1. a. President Obama characterizes the state of the United States economy as growing, and it is
creating jobs at the fastest pace since 1999. Unemployment

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: February 13
ANSWER KEY PROBLEM SET NUMBER TWO
1. First, it is helpful to construct a table to keep track of the quantity of resources being
used in the production of both goods. If 0 pounds of cookies ar

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: February 20
ANSWER KEY PROBLEM SET NUMBER THREE
1. The article by the Drug Policy Alliance presents these factoids about the effects of
legalizing marijuana in Colorado:
- Marijuana possession arrests ha

Econ 162-A1, A2
Spring 2015
Kenny Christianson
due: March 6
ANSWER KEY PROBLEM SET NUMBER FOUR
1. Here are the 3 choices and preferences of the House of Representatives:
Choice A: the British model of public doctors.
Choice B: the Canadian model of univer

ECON 162- A1, A2
Spring 2015
Kenny Christianson
due: March 13
ANSWER KEY - PROBLEM SET NUMBER FIVE
1. a. GDP = C + I + G + (X - M) = 11,900 + 2800 + 3200 + (2300 - 2800) = 17,400
b. GNP = GDP + NFIA = 17,400 + 300 = 17,700
NNP = GNP CCA = 17,700 2700 = 15

Econ 162-A1, A2
Spring 2015
Kenny Christianson
due: March 20
ANSWER KEY PROBLEM SET NUMBER SIX
1. a. To derive the Lorenz Curve for the economy of Loserville, first you must find the
cumulative distribution of income, then plot it on the Lorenz graph.
Qui

Econ 162-A1, A2
Kenny Christianson
Spring 2015
due: April 3
ANSWER KEY PROBLEM SET NUMBER SEVEN
1. a. According to the BLS website, the current rate of unemployment for February 2015 is
5.5%, down from 5.7% in January 2015. Since 2007 the unemployment rat

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: April 24
ANSWER KEY PROBLEM SET EIGHT
1. In the classical model, an increase in government spending leads to an increase in the
demand for loanable funds, as the government must finance the resulting def

Econ 162-A1, A2
Spring 2015
Kenny Christianson
due: May 1
ANSWER KEY - PROBLEM SET NUMBER NINE
1. a. To find the equilibrium level of GDP, first find the Aggregate Expenditure function,
then set Y = AE to find equilibrium:
To find the Aggregate Expenditur

ECON 162-A0, A1
Spring 2014
Kenny Christianson
due: February 14
ANSWER KEY PROBLEM SET NUMBER TWO
1. First, it is helpful to construct a table to keep track of the quantity of resources being
used in the production of both goods. If 0 pounds of cookies ar

Econ 162-A1, A2
Spring 2015
Kenny Christianson
due: April 24
PROBLEM SET NUMBER EIGHT
1. In the classical model, what is the effect of an increase in government spending that is
not financed by an increase in taxes (an increase in the deficit)? How do pri

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: May 1
PROBLEM SET NUMBER NINE
1. Assume the following Keynesian model:
AE = C + I + G + (X - M)
C = 500 + .75Yd
I = 300
G = 100
X = 150
M = 50 + .15 Yd
T = 100
a. Find the equilibrium level of GDP.
b. Us

ECON 162-A12, A2
Fall 2015
Minsung kim
Kenny Christianson
due: October 23
PROBLEM SET NUMBER FIVE
1. Suppose that you are given the following data for the country of Barackville:
consumption
wages
investment
exports
imports
profits
11,800
9,300
2,900
2,30

ECON 162-A1, A2
Fall 2015
Minsung kim
Kenny Christianson
due: October 2
PROBLEM SET NUMBER THREE
1. To continue our exploration of the credit crisis, please watch a Frontline news video
entitled Inside the Meltdown. The link for the program is:
http:/www.

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: May 8
THE LAST PROBLEM SET
1. Go to the following news article to read about the legacy of John Maynard Keynes:
http:/www.businessweek.com/articles/2014-10-30/why-john-maynard-keyness-theoriescan-fix-the

Econ 162-A1, A2
Spring 2015
Kenny Christianson
due: May 8
ANSWER KEY THE LAST PROBLEM SET
1. a. The Paradox of Thrift is the idea that an increase in saving leads to a decrease in real GDP.
What is beneficial for a household is not necessarily beneficial

SECTION_
ECON 162B-90, 91
Spring 2005
NAME_
Kenny Christianson
May 12, 2005
FINAL EXAMINATION (A)
PART I
MULTIPLE CHOICE
Choose the single best answer.
(30 points)
1. Which of the following will cause an increase in aggregate expenditures in the fixedpric

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: February 6
PROBLEM SET NUMBER ONE
1. This first question asks you to view President Obamas State of the Union Address
on January 20, 2015.
First, go to
http:/www.whitehouse.gov
and search for State of th

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: February 20
PROBLEM SET NUMBER THREE
1. Go the following website to read the Drug Policy Alliances report on the first year of
legal marijuana in Colorado:
https:/secure2.convio.net/dpa/site/Donation2;js

Econ 162-A1, A2
Spring 2015
Kenny Christianson
due: March 6
PROBLEM SET NUMBER FOUR
1. Suppose that the House of Representatives consists of three groups with different views
toward health care. Each group consists of 145 members. The first group (liberal

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: March 13
PROBLEM SET NUMBER FIVE
1. Suppose that you are given the following data for the country of Barackville:
consumption
wages
investment
exports
imports
profits
11,900
9,200
2,800
2,300
2,800
3,600

ECON 162-A1, A2
Spring 2015
Kenny Christianson
due: April 3
PROBLEM SET NUMBER SEVEN
1. To find current data for inflation and unemployment, please visit the Bureau of Labor
Statistics web page at www.bls.gov. On the right side of the home page is a colum

Econ 162-A1, A2
Fall 2015
Minsung kim
Kenny Christianson
due: October 16
PROBLEM SET NUMBER FOUR
1. Suppose that the House of Representatives consists of three groups with different views
toward health care. Each group consists of 145 members. The first g