Econ 162-A1, A2
Fall 2015
Kenny Christianson
due: December 4
PROBLEM SET NUMBER NINE
1. In the fixed-price Keynesian model, why cant the MPC be equal to 1?
The reason being is because if MPC is equal to one, then there will be no
equilibrium in the econo
History 104A: Modern American Civilization
Fall 2015
Professor Murphy
FINAL EXAM STUDY GUIDE
PART I: PAIR IDs (30 points)
For this portion of the exam, you will be responsible for writing three pair IDs, which I will
draw from the following set of terms.
ECON 162-A1, A2
Fall 2015
Kenny Christianson
due: September 25
PROBLEM SET NUMBER TWO
1. To hear a synopsis of the recent credit crisis, go to:
www.thislife.org/Radio_Episode.aspx?sched=1242 .
Listen to the radio show This American Life entitled "The Gian
ECON 162-A1, A2
Fall 2015
Kenny Christianson
due: December 11
THE LAST PROBLEM SET
1. Assume the following Keynesian model:
AE = C + I + G + (X - M)
C = 400 + .75Yd
I = 200
G = 100
X = 150
M = 50 + .15 Yd
T = 100
a. Find the equilibrium level of GDP.
b. U
Gold buckle from Sutton Hoo Ship Burial, first half of 7 th century
Purse Cover, Sutton Hoo Ship Burial, first half of 7th century
Chi Rho Iota page, Book of Matthew, Book of
Kells, ca. 800
Palace Chapel of Charlemagne
Aachen, Germany
792-805
Coronation G
1. Assume that Fiji and India can switch between producing shirts and skirts at a constant rate. Fiji has 120 hours
available for production, and India has 160 hours available for production. The chart below indicates the hours needed
in each country to m
Econ 162-A1, A2
Fall 2016
Kenny Christianson
due: November 18
PROBLEM SET NUMBER EIGHT
1. Using the labor market graphs for both the classical model and Keynesian model,
show the effects of an increase in labor supply in the economy. Assume that both
mark
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: 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-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
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: 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
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 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: 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: 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 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: 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-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
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: 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: 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: 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
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
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