The University of Alberta Economics 102 – B1 Introduction to Macroeconomics First Term Examination Special Code: 24 A. Wong 90 Minutes 1. 2. 3. 4. 5. 6. July 15‚ 2010 Section I: Multiple Choice. Do all 50 questions for 50 marks on the NCS sheet provided in pencil. Each question is worth 1 mark. For each questions‚ choose the BEST possible answer. The goal of macroeconomics is a. to explain how economic changes affect prices of particular goods. b. to devise policies
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The worst period of the Depression followed the crash of the Wall Street financial markets in 1929. In Britain‚ unemployment peaked just below three million in 1932. A year before‚ in August‚ the Labour government had resigned and been replaced by a Conservative-dominated National Government. Although the British economy stabilised under the National Government and unemployment began a steady decline after 1935‚ it was only with re-armament in the period immediately before the outbreak of World War
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This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 6 through 10. Answer each question clearly and concisely. 1. Suppose that a firm has fixed costs of $25 per day for renting one machine and its variable costs are as shown in the table below. Labour Output VC TC AFC AVC ATC MC 0 0 $ 0 25 ---- ---- ---- ---- 1 4 25 50 6.25 6.25 12.50 25 2 10 50 75 2.50 5.00 7.50 25 3 13 75 100
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ECONOMICS Adam Smith He was a Scottish philosopher during the Enlightenment. (The Enlightenment was an 18th century philosophical movement in Europe that stressed the importance of reason in analysing and investigating.) He wrote ’An Enquiry into the Nature and Causes of The Wealth of Nations’ published in 1776. His main economic ideas were: A nation’s wealth was the total value of its goods and services‚ not the value of its raw materials and precious metals. The value of these goods
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(http://www.SciRP.org/journal/aasoci) DOI:10.4236/aasoci.2012.21007 Is Street Art a Crime? An Attempt at Examining Street Art Using Criminology Zeynep Alpaslan Department of Sociology‚ Hacettepe University‚ Ankara‚ Turkey Email: z_alpaslan@hacettepe.edu.tr Received February 1st‚ 2012; revised February 29th‚ 2012; accepted March 13th‚ 2012 A clear and basic definition is the fundamental element in understanding‚ thus explaining any social scientific concept. Street art is a social phenomenon
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St Atanagio is a remote island in the Atlantic. The inhabitants grow corn and breed poultry. The accompanying table shows the maximum annual output combinations of corn and poultry that can be produced. Obviously‚ given their limited resources and available technology‚ as they use more of their resources for corn production‚ there are fewer resources available for breeding poultry. Maximum annual output options Quantity of Corn (pounds) Quantity of Poultry (pounds) 1 1200 0 2 1000 300
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Question 2: (a) Suppose the income elasticity of demand for pre-recorded music compact disks is +5.0 and the income elasticity of demand for a cabinet maker’s work is +0.5. Compare the impact on pre-recorded music compact disks and the cabinet maker’s work of a recession that reduces consumer incomes by 10 per cent. (2 marks) (b) How might you determine whether the pre-recorded music compact discs and MP3 music players are in competition with each other? (2 marks) (c) Interpret the following
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PROBLEM SET 1 Name: ______________________________________________ Problem Set 1 is to be completed by 11:59 p.m. (ET) on Monday of Module/Week 2. 1. Based on the information provided for the market for video games‚ answer the following questions. PRICE Q DEMANDED Q SUPPLIED $50 5 9 $45 7 7 $40 9 5 $35 11 3 $30 13 1 a.) Draw and properly label the demand and supply graphs (this means you must label the axes and any lines you include on the graph). b.) What is the equilibrium
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Macroeconomics Exam 1 Instructor: Prof. Phelps Name: Results: Class: Period: Date: Read each question carefully then circle the correct answer. When you are finished transfer the answers to the Scantron sheet. Make sure that you enter your name on both the exam and the scantron sheet. You have 1 hour to complete the exam. 1. For economists‚ the word "utility" means: a) versatility and flexibility. b) rationality. c) pleasure or satisfaction.** d) purposefulness
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Chapter I 2. To mitigate agency problems between senior executives and shareholders‚ the compensation committee of the board should devote more to long term incentives; the idea is to align the pocketbook interests of managers directly with those of stockholders‚ and the reason is to motive a manager and make him or her to act in the interests of the firm’s stockholders depends on the structure of his or her compensation package‚ the threat of dismissal‚ and the threat of takeover by a new group
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