Question 2 [4 points]
Answer the following questions about the chicken market, assuming that a new, faster growing
variety of chicken feed is introduced.
a) Show the effect by clicking and dragging the appropriate line(s) in the graph below. Select which
Question 1 [24 points]
Suppose the weekly demand for a certain good in thousands of units, is given by the equation P = 32 - Q, and
the weekly supply curve of the good by the equation P = 8 + 3Q where P is the price in dollars. Finally, suppose
Question 1 [14 points]
Given the demand curve below:
Note: Keep as much precision as possible during your calculations. Your final answer should be accurate to at
least two decimal places.
a) What is the slope of the demand curve?
Slope = -1
b) What is th
ECON 203: Introduction to Macroeconomics Curtis, Irvine W2016 Sections 10.1 - 10.4
Notes for Lectures 20 & 21
Ch. 10: Central Banking and Monetary Policy
Monetary Policy Is the Control Over the Money Supply
Primary Role of the Central Bank
o It is respons
ECON 203: Introduction to Macroeconomics Curtis, Irvine W2016 Sections 13.1 13.3
Notes for Lecture 25
Ch. 13: Economic Growth
The Pattern of Economic Growth across Countries
Economic growth is the change in real GDP
o Annual % growth of total real GDP (ch
ECON 203: Introduction to Macroeconomics Curtis, Irvine W2016
Notes for Lectures 23 & 24
Ch. 14: International Macroeconomics
Balance of Payments Accounts
It is a summary record of a countrys international transactions that involve payments in
Department of Economics
ECON 221 Sections A, B, BB, C
Instructors: G. Fisher, N. Islam, N. Debiparshad
Fall 2008 - ASSIGNMENT 1 THEORY - ANSWERS
1. Second-year economics students wishing to take Econ 222 must have first completed ei
Hamlet: Is the main character of the play and is the son of the deceased king of Denmark
and the nephew of the new king of Denmark Claudius. During the play Hamlet acts as if he is
mad and going crazy all in a plot to get revenge on the Curr
Econ 203 Tutorial #2
Date: Week 4
Coverage: Chapter 5 Output, Business Cycles, Growth and Employment
I. Multiple Choice Questions
1. Suppose that nominal wages fall and productivity rises in a particular economy. Other things equal, the
Act 2 questions:
1. Polonius sends Reynaldo to Paris to acquire money from Laertes and convey a
message but in reality he wants Reynaldo to spy on Laertes to know whether he is
drinking or gambling or what exactly he is doing. You should say, I sort of kn
GDP Following the Expenditure Approach
GDP = C + I + G + X IM = 6400 + (1500+200) + 1550 + 550 - 600 = 9600
GDP Following the Income Approach
NDI = W&S + Int Inc + BP = 7700 + 900 + 700
Professor Paul Gomme
March 2, 2016
1. Do not start the exam until instructed to do so.
2. Answer all questions.
3. No electronic devices (calculators, personal data assistants, notebook computers, e
1)The 3 fundamental decisions consumers have to
2)The concept of Utility
1. Total Utility
2. Marginal Utility
3. Law of diminishing Marginal Utility
3)Consumers Optimization problem: Maximize
utility given the budget con
Make sure there are not any counting
mistakes or grading mistakes
Unemployment: An economic condition that
exists when wor
Department of Economics
Economic Data Analysis
I. True/False/Uncertain - Briefly explain. No credit without an explanation (8 marks each).
Econ 203 Tutorial #1
Date: Week 3
Coverage: Chapter 4 Economic Activity and Performance
Part I: Multiple Choice Questions
If the CPI in 1982 was 100 and the CPI in 1983 was 115, then the rate of inflation was
A) 1.5 percent.
B) 11.5 percent.
C) 115 per
an cfw_ADV a?
o 6.4. The multiplier: kw, W (jggig? ~
The concept of multiplier is very important in policy analysis.
Page Denition: Multiplier is the ratio of change in equilibrium output
13 Y, to the change in autonomous expenditure AEO.