Economics 305
Spring 2013
D r. Neri
Problem Set No. 2 due in class on Tuesday February 19. E-mail submissions will not be
accepted. Late submissions will have points deducted. Please put you name IN INK on the
top of all papers submitted.
A
MPL
SL
B
C
MPL
Economics 305
Spring 2014
Dr. Neri
Problem Set No. 2 due in lecture on Thursday February 13, 2014.
Late submissions and e-mail submissions will not be accepted.
Question No. 1
Acme Widget Co. has the following production function:
Number of Labor Hours
1
Economics 305
Dr. Neri
Problem Set No. 5 due in class on Tuesday April 30, 2013.
1. Suppose that an economy has the following Phillips curve: = -1 - 0.6 (u - .05) with
adaptive expectations. You are given the following information for the years 200 9
thro
Economics 305
Spring 2013
Problem Set No. 1 due on Thursday February 7, 2013.
Late submissions and e-mail submissions will not be accepted.
Dr. Neri
1. Determine the effect of each of the following transactions on GDP. Indicate where the activity would be
Economics 305
Dr. Neri
Problem Set No. 6 due in class on Tuesday May 7
Judy obeys the two-period Fisher intertemporal choice model of consumption. She earns $2,000 in the
first period and $4,000 in the second period.
A. If Judy consumes $2800 in the first
Economics 305
Spring 2014
Problem Set No. 5 due in class on Tuesday April 1, 2014.
Late submissions and e-mail submissions will not be accepted.
Dr. Neri
1. Mankiw, Chapter 11, Problems and Applications, Question No. 3, Chapter 10 p.309 7th edition
(Quest
Economics 305
Spring 2013
Dr. Neri
Problem Set No. 3 due in class on Thursday March 14, 2013.
Late submissions and e-mail submissions will not be accepted.
1. Suppose the economy is in long-run equilibrium. Now s uppose that laws
are passed banning labor
Math Review
1. Variables and Constants A variable is a mathematical abbreviation for a concept. For example, the variable Y represents the level of output or real GDP, while the variables K and L represent the quantity of capital and labor. Each of these
Economics 305
Dr. Neri
Problem Set No. 4due in class on Thursday March 13, 2014
Late papers will not be accepted
1. Suppose that laws are passed banning labor unions and that resulting lower labor costs
are passed along to consumers in the form of lower p
Economics 305
Spring 2014
Dr. Neri
Problem Set No. 3 due in class on Thursday February 27, 2014.
Late submissions and e-mail submissions will not be accepted.
Question No. 1 A continuation of question 3 from Problem Set No. 2.
Suppose a technological adva