Economics 311: Intermediate Microeconomic Theory
University of Oregon
Department of Economics
Brian Vander Naald
1. What are the important dates and issues that started the modern study of macroeconomics?
a.i.1.a.i.1.a.i. 1929: Stock Market Crash
a.i.1.a.i.1.a.ii. 1930-1932: 9000 US Banks Fail
a.i.1.a.i.1.a.iii. 1933: 25% US Unemployment, World
1. What is macroeconomics? When did it become important in economics?
Macroeconomics is the field of economic theory that analyzes the behavior and performance
of the economy as a whole, focusing on the total or aggregate performance of the economy.
1. Name and define 5 types of unemployment. Include an example of each.
Frictional: Frictional unemployment is caused by the temporary mismatching of people
with jobs because workers change jobs, employers seek new workers, and new people
enter the labor
Spring 2010 Introductory Macroeconomics Econ 104a,c,d,e,f - Voorheis
Answer Key Worksheet 4 Keynesian Model of the Economy
1. Consider a closed, simple economy (not necessarily at full employment) with no government,
characterized by the following equatio
Macro Review Sheet
- Fiscal policy The use of government spending and taxes to influence the nations
spending, employment, and price level.
- Discretionary fiscal policy The deliberate use of changed in the government spending
or taxes to alter
Due Tuesdy, 5 April
Instructions: Homework must be written up individually, though you are allowed to work with
your fellow students. Use math, graphs, or words to support your answers. Please write legibly and
staple your homework.
1. In mic
Chapter 4 Individual and Market Demand
This chapter focuses on how purchase decisions respond to variations in price and income.
The indifference curve analysis developed in Chapter 3 is used as a basis for virtually all the