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Atlantic Power Company
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Customer Name:
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Smith
John
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First Initial - First
ECON 1102 Fall 2016 - Assignment 2.
Due: by 3:30 p.m., Friday, October 14, in the box on the porch of 6206 University Ave.
NOTE: Make sure that you write your name and student ID on your assignment. If you have worked
as part of a group, make sure that al
Midterm 1
Chapter 1
1. (p. 2) Economics is best defined as the study of
A. prices and quantities.
B. inflation and interest rates.
C. how people make choices under the conditions of scarcity, and the results of the
choices.
D. how to make money.
E. wages
midterm 2
summer 2014|15
ECON 1102.02
1. (p. 153) A period in which the economy is growing at a rate significantly below normal is
called a(n)
A. expansion.
B. boom.
C. peak.
D. recession.
E. trough.
15. (p. 153) Economic activity moves from a peak into a
Why Study Economics (Chapter 1)
Learning Objectives
I
Dene economics, microeconomics, and macroeconomics.
I
Identify John Maynard Keynes, Alfred Marshall, and Adam
Smith, and their inuence in economics.
I
State and explain the problem of scarcity and its
Comparative advantage (Chapter 2)
Learning Objectives
I
Explain the principle of comparative advantage.
I
Demonstrate the relationship between opportunity cost and
comparative advantage.
I
Explain the principle of increasing opportunity cost.
I
Identify f
Measuring Economic Activity: GDP and Unemployment
(Chapter 5)
Learning Objectives
I
Explain how economists dene and measure an economys
output.
I
Use the expenditure method for measuring GDP to analyse
economic activity.
I
Dene and compute nominal GDP and
Retirement Economics
Retirement Economics
Introduction
In a previous lecture, we considered the standard (neoclassical)
theory of saving for retirement.
We noted that it made some very strong assumptions about human
behavior.
Retirement Economics
Introd
L7: Externalities & Market Failure
(Money Social Efficiency)
Ruth Forsdyke, 2015
Readings: Ch. 4
Extra:
Monbiot, George (2015) Wiping the World Clean
Balmford, Green & Phalan (2012) What Conservationists Need to Know About
Farming, Proc. R. Society B, 279
L2: Environmental Problems as Social Problems
Over the last few centuries, technical change enabled a massive increase of material and energy
throughput into the economy. This enabled an unprecedented increase in the Earths population
of humans, a sizable
Econ3335: L2_Practice Problems
1) Network Externalities in Transit Systems:
Assumptions:
There are N people in a town, each of whom commutes to work. The number who take the bus to
work is represented as NBus ,while the number of people who drive a car to
Part II: Sustainable Consumption
and Production Systems: L3 Collapse
Ruth Forsdyke, 2015
photo source: http:/en.wikipedia.org/wiki/File:AhuTongariki.JPG
Topics List Part II
L3 - Collapse (Easter Island Case
Study, Ted Talk by Jared Diamond on
Collapse)
L4
L5_Limits to Growth and Linear vs.
Circular Economic Systems.
Ruth Forsdyke, 2015
Topics List
1. Scientific Laws of Limits to Growth
2. Systems Diagrams Illustrating Limits to
Growth
3. General Equilibrium Framework (PPFs
and CICs) related to first and se
L8: Open Access Problems
The Story of North East Atlantic Cod
Ruth Forsdyke, 2015
- H. Scott Gordon (1954) The Economic Theory of a Common Property
Resource: The Fishery (our model is based on this paper)
- O&F (Page 74 to 77)
- Hardin, Garrett (1968) Tra
Positional Externalities Cause Large and Preventable Welfare Losses
by
Robert H. Frank*
In traditional economic models, individual utility depends only on absolute consumption.
These models lie at the heart of claims that pursuit of individual self-intere
invertible they are square, and because their
product is defined they must both be nn. Fix
spaces and bases say, R n with the standard
bases to get maps g, h: R n R n that are
associated with the matrices, G = RepEn,En (g)
and H = RepEn,En (h). Consider h
gives some nice properties and more are in
Exercise 25 and Exercise 26. 2.12 Theorem If F,
G, and H are matrices, and the matrix products
are defined, then the product is associative
(FG)H = F(GH) and distributes over matrix
addition F(G + H) = FG + FH an
of the result. 1 2 3 4 5 6 7 8 9 0 1
0 0 0 0 = 0 1 0 4 0 7 Section IV.
Matrix Operations 235 3.4 Example Rescaling
unit matrices simply rescales the result. This is
the action from the left of the matrix that is
twice the one in the prior example. 0 2 0
0
proj[~2] (~ 3) . . . ~k = ~ k proj[~1] (~
k) proj[~k1] (~ k) form an
orthogonal basis for the same subspace. 2.8
Remark This is restricted to R n only because
we have not given a definition of orthogonality
for other spaces. Proof We will use induction
to
equals ~vi+1? If so, what is the earliest such i?
Section VI. Projection 269 VI.2 Gram-Schmidt
Orthogonalization The prior subsection
suggests that projecting ~v into the line
spanned by ~s decomposes that vector into
two parts proj[~s] (~p) ~v ~v proj[~s
think of orthogonal projection into a line is to
have the person stand on the vector, not the
line. This person holds a rope looped over the
line. As they pull, the loop slides on the line.
When it is tight, the rope is orthogonal to the
line. That is, we
sided inverse if and only if it is both one-toone and onto. The appendix also shows that if
a function f has a two-sided inverse then it is
unique, so we call it the inverse and write f
1 . In addition, recall that we have shown in
Theorem II.2.20 that if
calculate H = RepB, D (h) either by directly
using B and D , or else by first changing bases
with RepB,B (id) then multiplying by H =
RepB,D(h) and then changing bases with
RepD,D (id). H = RepD,D (id) H RepB,B
(id) () 2.1 Example The matrix T = cos(/6)
matrix just given m n p q! 1 1 2 1 ! = 1 0 0 1!
by using Gausss Method to solve the resulting
linear system. m + 2n = 1 m n = 0 p + 2q = 0 p
q = 1 Answer: m = 1/3, n = 1/3, p = 2/3, and q
= 1/3. (This matrix is actually the two-sided
inverse of H; the ch
exercises.) Here is another property of matrix
multiplication that might be puzzling at first
sight. (a) Prove that the composition of the
projections x, y : R 3 R 3 onto the x and y
axes is the zero map despite that neither one
is itself the zero map. (b
that someone standing on ~p and looking
straight up or down that is, looking
orthogonally to the plane sees the tip of ~v.
In this section we will generalize this to other
projections, orthogonal and non-orthogonal.
VI.1 Orthogonal Projection Into a Line
holds for maps: with respect to the basis pairs
E2, E2 and E2, B, the identity map has these
representations. RepE2,E2 (id) = 1 0 0 1!
RepE2,B(id) = 1/2 1/2 1/2 1/2! This section
shows how to translate among the
representations. That is, we will compute h