W1105.001 Principles of Economics Prof. Musatti Assignment 1, due January 31st 2008
Before submitting your assignment, please make a copy for your own use. Your assignment will not be returned to you before the recitation sessions. Be sure you includ
W1105.002 Principles of Economics Assignment 5, due Febr. 28th 2008 Before submitting your assignment, please make a copy for your own use. Your assignment will not be returned to you before the recitation sessions. Be sure you include: Name: Multipl
Principles of Economics W1105.002
Fall 2015
Prof. Musatti
Student Name: _ UNI _
Number_
Section
Problem Set 2 Due: Thursday, October 1st 2015
General Problem Set Guidelines
1. The problem sets are due at the beginning of lecture. No late problem set is ac
W1105.002 Principles of Economics Assignment 3, due Febr. 14th 2008
Before submitting your assignment, please make a copy for your own use. Your assignment will not be returned to you before the recitation sessions. Be sure you include: Name: Recitat
W1105.002 Principles of Economics
Sample Final Practice Material 1
Section 1 - Multiple Choice (1 point for each correct answer)
Identify the letter of the choice that best completes the statement or answers the question and record it in the table in Book
Principles of Economics
W1105y Spring 2012
Sunil Gulati
Final Exam Information
The Final Exam will be given on:
May 9
9:0012:00
Last Name AJ
501 SCH
Last Name KZ
309 Havemeyer
You must bring your Columbia ID to th
Principles of Economics W1105 002 , Fall 2015
Prof. Anna Catherine Musat
Student Name: Fredrick Kofi Tam
UNI: fkt2105
Section Number: 17
Homework 2
1. With the aid of demand and supply diagrams, answer the following questions.
a. How does a particularly c
Principles of Economics W1105.002
Spring 2013
Student Name: _ UNI _
Prof. Musatti
Section Number_
Problem Set 7 Due: Tuesday, April 30th 2013
1
a)
The news is not encouraging for employment in the US. Lower consumer confidence leads to lower consumption
e
Principles of Economics W1105.002
Spring 2013
Student Name: _ UNI _
Prof. Musatti
Section Number_
Problem Set 6 Due: Thursday, April 18th 2013
1. Labor productivity is the ratio of real GDP to the total number of hours worked (labor productivity = Y/E). A
Principles of Economics W1105.002
Spring 2013
Student Name: _ UNI _
Prof. Musatti
Section Number_
Problem Set 5 Solutions
1. GDP per capita is a fair measure of welfare and standard of living. It is highly correlated with several other measures of we lfar
SECTION I: MULTIPLE CHOICE: Choose the one alternative that best completes the statement or answers the
question and write it on your solution sheet.
1) You are in the market for a used 2014 Honda Accord. You know that half of the 2014 Accords are lemons
W1105.002 Principles of Economics Assignment 4, due Febr. 21st 2008 Before submitting your assignment, please make a copy for your own use. Your assignment will not be returned to you before the recitation sessions. Be sure you include: Name: Recitat
Principles of Economics
W1105y-1 (Gulati) Fall 2015
Solution Set #4
1.
2.
a.
Toexpandthemoneysupply,theFedshouldbuybonds.
b.
With a reserve requirement of 20%, the money multiplier is 1/0.20 = 5. Therefore to expand the money
supplyby$40million,theFedshou
PrinciplesofEconomics
W1105y1(Gulati)Fall2015
SolutionSet#1
4.
1.a. A glut of GM pickup trucks implies that the quantity supplied of GM pickup trucks is greater than the quantity
demandedofGMpickuptrucks.
b.
PricesofGMpickuptruckswouldbeexpectedtofallint
Solution Set and Distribution
. questtons b e Low.
sectton IML"LCh"
: u ttnl e otce: Wnte t he answer to each o f t he mu l.
ttp1Le c h otce
c c
A B A D A A D
c
A
c c c
D A D A A B
1
3
10
11
12
15
2
4
5
6
7
8
9
14
13
16
17
18
19
20
c
A A
c c
21
22
24
23
2
Principles of Economics
W1105y-1 (Gulati) Fall 2015
Solution Set #2
1.
Because Bobs average total cost is $280/10 = $28, which is greater than the price, he will exit the industry in the long run.
Becausefixedcostis$30,averagevariablecostis($280$30)/10=$2
Principles of Economics W1105.002
Spring 2013
Student Name: _ UNI _
Prof. Musatti
Section Number_
Problem Set 4 Solutions
1. True. If there were no diminishing returns, even if the only land we had was the one contained in a flowerpot, by adding more and
Principles of Economics W1105.002
Spring 2013
Student Name: _ UNI _
Prof. Musatti
Section Number_
Problem Set 3 - Solutions
1. a. On Saint Patricks Day the demand for green T-shirts increases, raising the price of green T-shirts and the number of green T
W1105.002 Principles of Economics Assignment 2, due Febr. 7th 2008
Before submitting your assignment, please make a copy for your own use. Your assignment will not be returned to you before the recitation sessions. Be sure you include: Name: Recitati
W1105.002 Principles of Economics Assignment 6, due March. 6th 2008 - Solutions Before submitting your assignment, please make a copy for your own use. Your assignment will not be returned to you before the recitation sessions. Be sure you include: N
Simple Numerical Model
GDP (AS)
C
S
Id
AE
AE v AS Und I
AE>AS AE>AS AE>AS AE>AS AE=AS AE<AS AE<AS AE<AS AE<AS
Falling Falling Falling Falling 0 Rising Rising Rising Rising
GDP
Expand Expand Expand Expand GDP* Contract Contract Contract Contract
Macro Model II
GDP
T
T=100
Yd
Yd-Y-T
C
C=100+.7 5Yd
S
S=YdC 50 100
Id
Id=100
G
G=150
AD
C+I+G
Ad v AS
Und Inv
GDP Chg
EXP
S,T,I,G
Y(C+I+G)
700 900
100 100
600 800
550 700
100 100
150 150
800 950
AE>AS AE>AS
-100
EXP EXP
G+I > S
Final Exam Multiple Choice Solutions.Fall 2009
1. B
2. C
3. C
4. B
5. C
6. D
7. D
8. A
9. B
10. C
11. A
12. B
13. A
14. C
15. D
16. C
17. C
18. C
19. D
20. A
21. D
22. B
23. B
24. D
25. C
26. C
27. D
28. B
29. A
30. D
31. A
32. B
33. B
34. A
35. D
36. A
3
Principles of Economics
W1105y-1 (Gulati) Fall 2015
Solution Set #3
1.
WecanconvertFitzgeralds1924nominalincomeof$36,000toanequivalentincomein2012bymultiplyingthe
1924 nominal income by the ratio of the CPI for 2012 to the CPI for 1924: $36,000 (230/17)