Homework # 2
Homework is due on Wednesday
Please, note: show you work when asked to receive the full credit and then circle the correct answer.
Correct the following statements, if needed, so that terms demand, quantity demanded,
Homework # 3
All underlying work must be shown to receive full credit
Consider the following demand curve for Starbucks coffee. All underlying work must be shown.
P ric e p e r c u p
Chapter 11 summary
Inflation causes a constant increase on prices which then relates to how much money is being
spent and how much money is eventually being earned. The Nominal GDP shows the spending in the
economy with current mark
Chapter 10 summary
The best way to determine if a societies economy is good or not, is to review their GDP. GDP
stands for Gross Domestic Product, which measures the total income of a nation. The GDP measures the
total income people
Second seminar Macroeconomics Chapters XIV- XV XVI Special classes about fiscal and
monetary policies interconnection
Chapter XIV XV - XVI
1- Which are the advantages of having monetary policy out of the hands of the government?
2- Explain what is the ban
Jose Rolando Alegria Gonzalez
Eco 105 Principles of Microeconomics
Chicago Fed Memorandum #1
The Chicago Fed Letter by William A. Strauss and Jacob Berman gives a presentation
about the Nations economic growth on the AOS (A
Chapter 17 Summary- (Money, Growth, and Inflation)
The Classical Theory of Inflation
The Level of Prices and the Value of Money
The economys overall price level can be viewed in two ways.
o Price of basket of goods and services.
o A measur
Chapter 16 Summary: (The Monetary System)
The Meaning of Money
The Functions of Money
3 Main functions
o Medium exchange
o Unit of account
o Store of value
When people decide in what form to hold their wealth, they have to balance the liq
Chapter 1 Summary
How People Make Decisions
o Making decisions requires trading off one goal against another
The Cost of Something Is What You Give Up to Get It
o When making a financial decision, it is important for the decision
Chapter 13 Summary- (Saving, Investment, and the Financial System)
Financial Institutions in the U.S. Economy
Made up of many types of financial institutions:
o Bond market
o The stock market
o Mutual funds
All act to direct the res
Chapter 12 Summary- (Production and Growth)
Economic Growth around the World
The data on real GDP per person show that living standards vary widely from
country to country.
Because of the rankings in growth rates, the ranking of countries b
Chapter 10 Summary- (Measuring a Nations Income)
The Economys Income and Expenditure
When judging to whether the economy is doing well or poorly, it is natural to
look at the total income that everyone in the economy is earning.
Chapter 2 Summary
Thinking Like an Economist
The Economist as Scientist
o Economists try to address their subject with a scientists objectivity.
o The essence of science is the scientific method.
o The Scientific Method:
Homework # 5
1.Explain what is the fundamental characteristic that distinguishes the short-run from long-run in
production process? (1 point)
In the short-run production process, there will always be a fixed supply
Homework # 1
1. You win $ 200 in basketball pool. You have choice between spending the money now and putting it
away for a year in a bank account that pays 6 percent interest rate. What is the total opportunity cost of
Principles of Microeconomics
Midterm Exam, Part I
Take- Home Exam
Due: Tuesday, February 2nd at the beginning of the class.
Student Name: _
True false questions