THE AUSTRIAN SCHOOL
Lecture 37. List and explain in a sentence or two the four characteristics of Austrian economics: -. i. Methodoligical Individualism: Austrians place heavy emphasis on the idea that "social" developments are simply
`Travis Kennedy Questions for Test #1 With Answers ECONOMICS 30243 Contending Perspectives in Economics Study Questions for Semester (Spring 2008) INSTRUCTIONS: These questions are to help guide your studying. Though these exact questions may not app
Review Sheet for Midterm
Classical economic theory (assumptions, historical background, time frame)
Production function (slope, shifts, MPK, MPL) [Ch. 3, pp. 52-61]
Derivation of labor demand [Ch. 3, pp. 55-56]
Labor supply (substitution and income effect
Intermediate Macro Exam 1
Use the circular flow diagram below to answer questions 1-5.
1. What is the value of GDP in this economy?
2. What is the value of net exports?
3. What is the value of disposable income?
4. What is the tota