Lecture 1: Introduction and What is GDP? Siwei Kwok September 26‚ 2013 Kwok Econ 2 September 26‚ 2013 1 / 31 Motivation In Econ 1‚ you studied: Consumer and rm decisions → supply/demand curves → market equilibrium under perfect competition Government action: price ceiling‚ price oors Positive and negative externalities Imperfect competition: monopolies‚ oligopolies‚ cartels Note that all of the above considered‚ at most‚ a couple markets at the same time
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points Question 3 1. An inflation rate of 5% between 2011 and 2012 would be implied by a change in the GDP deflator from ________ in 2011 to ________ in 2012. Answer 105; 115 200; 205 375; 390 400; 420 10 points Question 4 1. Which of the following are not considered part of government purchases? Answer a tank purchased by the federal government welfare benefits teacher’s salaries paid by a local government a bridge purchased by the state government
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1249-1275. 2. Fama‚ Eugene F.‚ and Kenneth R. French‚ 1996‚ Multifactor explanations of asset pricing anomalies‚ Journal of Finance 51‚ 55-84. 3. Fama‚ Eugene F.‚ and Kenneth R. French‚ 2008‚ Dissecting anomalies‚ Journal of Finance 63‚ 1653-1678. 4. Jegadeesh‚ Narasimhan‚ and Sheridan Titman‚ 1993‚ Returns to buying winners and selling losers: Implications for stock market efficiency‚ Journal of Finance 48‚ 65-91. Grade weights: Trading Simulation: Industry Analysis Presentation: Homework
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Answers of Managerial Economics Homework #2 Chapter 5~Chapter 9 1.Using figure 5.3 as a basis‚ construct a series of four figures to show the effect of an increase in the demand for tanker service on the market price when (a) demand is extremely inelastic‚ (b) demand is extremely elastic‚ (c) supply is extremely inelastic‚ and (d) supply is extremely elastic. Answer: [pic] [pic] [pic] [pic] 2.Industry researchers R.S. Platou predicted
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on the vertical axis. 2.Refer to Scenario 3-1. If the price of beer doubles to $2‚ then the a. budget constraint intersects the vertical axis at 25 beers. b. slope of the budget constraint rises to -2. c. slope of the budget constraint falls to -4. d. budget constraint shifts inward in a parallel fashion. 3. Refer to Table 3-1 below. You have an extra ticket to the Midwest Regional Sweet 16 game in the men’s NCAA basketball tournament. The table shows the willingness to pay of the four
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money. Classical economics also relates to the neutrality of money which changes in the money supply and affect nominal‚ but not real variables. Most economists believe classical theory describes the world in the long run‚ but not the short run. 4. The Aggregate and Demand curve shows the quantity of all goods and services demanded in the economy at any given price level. The Aggregate & Supply curve shows the total quantity of goods & services firms produce and sell at any given price level.
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government expenditure changes‚ AD changes and thus real GDP changes subsequently. This induces a change in consumption expenditure‚ which bring in the process of government expenditure multiplier. In the case of China‚ the stimulus package includes 4 trillion yuan to spend on boosting China’s domestic demand1. AD changes from AD0 to AD1 (Figure 1)‚ causes real GDP to rise from Y0 to
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Name: _______________________ Team: _______________________ AP Macro Problem Set #2 Unit 2: Measurement of Economic Performance 1. (_____/15) Article Analysis Read each of these current articles and identify three different concepts we learned that are mentioned. Define and summarize what is being said for each concept that you identify. a. GDP Article (_____/5) b. Unemployment Article (_____/5) c. Inflation Article (_____/5) 2. ( ____/15 Points) Gross Domestic Product
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Descriptive Statistics and Probability Distribution Problem Sets Emily Noah QNT561 Anthony Matias December 24‚ 2012 Descriptive Statistics and Probability Distribution Problems Sets Descriptive statistics and probability distribution is two ways to find information with certain data giving. In Descriptive statistics the data can give a mode‚ mean‚ median‚ and range by the numerical information‚ which is giving to find the information. In probability distribution the data is collected and
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rarely beyond that. Centered‚ Boldface‚ Uppercase and Lowercase (Level 1) Left-aligned‚ Boldface‚ Uppercase and Lowercase (Level 2) Indented‚ boldface‚ lowercase with period. (Level 3) Indented‚ boldface‚ italicized‚ lowercase with period. (level 4) Indented‚ italicized‚ lowercase with period. (level 5) In-Text Citations When using the ideas of other people‚ provide an in-text citation. For our purposes‚ there will be a corresponding reference on the last page for all in-text citations as well
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