The Hong Kong University of Science and Technology
ECON 112 (L1, L2)
Macroeconomics
Final (Fall 2010) *
*Solution and marking scheme*
Instructor: Prof. Li, Yao Amber
TA: Fok Pik Lin, Astor
December 14, 2010
Part II
SHORT ANSWER QUESTIONS (55/100 marks)
IN
The Hong Kong University of Science and Technology
ECON 112 (L1, L2)
Macroeconomics
Final (Fall 2010) *
*Solution and marking scheme*
Instructor: Prof. Li, Yao Amber
TA: Fok Pik Lin, Astor
December 14, 2010
Part II
SHORT ANSWER QUESTIONS (55/100 marks)
IN
1. In the absence of technological progress, an increase in the saving rate will cause which of the
following?
a. increase temporarily the growth of output per worker.
b. increase the steady state growth of output per worker.
c. decrease temporarily the g
Econ 214
Spring, 2009
Midterm Exam.
Instructor: Yan YU
Name:_
I.D. number:_
Total Score: _
General Instructions:
This is a close-book examination. You have 120 minutes. Please check if you have a
total of 6 pages including this cover page. You may use cal
CHAPTER 3
Applying the Supply-and-Demand Model
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
1) The change in price that results from a leftward shift of the supply curve will be greater if
A) the de
Econ214 Managerial Microeconomics
Spring, 2009
Final Exam
Instructor: Yan YU
HKUST
Name: _
ID number:_
Total Score: _
General Instruction: This is a closed-book examination. You have 180 minutes. Please
check first if you have a total of 8 pages including
Economics 1200
Spring 2010
Homework #1 Answers
1.
a. (.5 point) The normal form of the game is:
Prisoner
Climb Wall
Dig Tunnel
Guards at Wall
-1, 1
1, -1
Warden
Regular Inspections
1, -1
-1, 1
The game is zero, or constant sum
b. (.5 point) The extensive
CHAPTER 6
Firms and Production
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
1) Economists typically assume that the owners of firms wish to
A) produce efficiently.
B) maximize sales revenues.
C) max
CHAPTER 11
Monopoly
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
1) For a monopoly, marginal revenue is less than price because
A) the firm is a price taker.
B) the firm must lower price if it wishe
Chapter 9
Applying the Competitive Model
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
1) Mister Jones was selling his house. The asking price was $220,000, and Jones decided he
would take no less th
CHAPTER 8
Competitive Firms and Markets
MULTIPLE CHOICE QUESTIONS
1) Economists define a market to be competitive when the firms
A) spend large amounts of money on advertising to lure customers away from the
competition.
B) watch each other's behavior clo
CHAPTER 7
Costs
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
1) Economic costs of an input include
A) only implicit costs.
B) only explicit costs.
C) both implicit and explicit costs.
D) whatever ma
CHAPTER 7
Costs
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
1) Economic costs of an input include
A) only implicit costs.
B) only explicit costs.
C) both implicit and explicit costs.
D) whatever ma
CHAPTER 5
Applying Consumer Theory
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
Figure 5.1
1) Figure 5.1 shows Bobby's indifference map for juice and snacks. Also shown are three
budget lines result
ECON112 Macroeconomics
Problem Set 3 *Solution*
Fall 2010
(Instructor: Li, Yao; TA: Fok Pik Lin, Astor)
- -Posted: Monday, November 1, 2010
Due: 5:30 PM Monday, November 8, 2010
40 marks total
Part I: True/False/Uncertain Please justify your answer with a
3. Quantitative Demand
3.1 Calculate and interpret own price elasticity.
Elasticity of Demand measures responsiveness of demand (or supply) to changes in
an underlying factor (e.g. price, income, other prices).
Own-Price elasticity of demand =
% change in
You expect to pay more for a hotel when a c
ity is full of conventioneers and to pay less a
t a resort during the off season. Thats what
dynamic pricing is all about.
Most people understand that the prices for h
otel rooms and airline tickets change all t
Basic Oligopoly Models
7.1 Explain the assumptions and main features of the four basic oligopoly models.
Conditions for Oligopoly: Relatively few firms, usually less than 10.
Duopoly - two firms
Triopoly - three firms
The products firms offer can be eithe
Econ214 Managerial Microeconomics
Fall, 2008
Final Exam
Instructor: Yan YU
HKUST
Name: _
ID number:_
Total Score: _
General Instruction: This is a closed-book examination. You have 180 minutes. Please
check first if you have a total of 7 pages including t
Group project for Econ 3014, Fall 2011
Each group is required to conduct a group project during the semester. A written report
is due on November 30th 5pm. A 20 minutes presentation is scheduled in the final week
for each group. Each group chooses one com
Econ3014 Fall, 2011
Instructor: Yan YU
Problem Set #5 (due Nov. 24th Thursday 5pm in room 2394)
1. (8. 7) Compute the Nash equilibrium in randomized strategy for the following
game.
Bob
Top
Left
(3, 6)
Right
(4, 5)
Bottom
(6, 4)
(2, 6)
Ann
2. (7.2, 6.1, 8
PROF. DR. MICHAEL FUNKE
Hamburg, 17. November 2009
DIPL. V.W H AO YU
Tutorial 6
Macroeconomics (Winter 2009/10)
1. Deficits and the capital stock.
For the production function, Y= K N , equation (11.8) gives the
solution for the steady-state capital stock
CHAPTER 2
Supply and Demand
MULTIPLE CHOICE.
Choose the one alternative that best completes the statement or answers the question.
1) According to the Law of Demand, the demand curve for a good will
A) shift leftward when the price of the good increases.
CHAPTER 4
Consumer Choice
MULTIPLE CHOICE
Choose the one alternative that best completes the statement or answers the question.
1) An indifference curve represents bundles of goods that a consumer
A) views as equally desirable.
B) ranks from most preferre
NONCOOPERATIVE OLIGOPOLY MODELS
1. INTRODUCTION
AND
DEFINITIONS
Denition 1 (Oligopoly). Noncooperative oligopoly is a market where a small number of rms act independently but are aware of each others actions. 1.1. Typical assumptions for oligopolistic mar