Prof. Gustavo Indart Department of Economics University of Toronto ECO 100Y INTRODUCTION TO ECONOMICS Problem Set 1 1. Labour is the only resource in an economy with the following maximum production possibilities. (The graph is drawn as a curve rather than points under the assumption that opportunity cost is constant between options.) Option 1 2 3 4 a) b) c) d) e) f) Clothes (Tons) 50 40 20 0 Food (Tons) 0 30 70 100 What is the opportunity cost of increasing Clothes production from 20 to 40
Premium Economics
|ECON E-1010 | |Microeconomic Theory Spring‚ 2013 | Course Web Site: http://isites.harvard.edu/course/ext-23285/2013/spring Professor: Bruce Watson econe1010@dce.harvard.edu Lectures: Mondays 7:40 – 9:40 Science Center A Teaching Assistants: Teo Nicolais (For
Premium Supply and demand Economics Monopoly
| | Level 3 BTEC Extended Diploma in Business Unit 4: Business Communications Assignment Title:- ‘Improving business communications’. Launch date 13th December Final submission date 28th February Please note:- * Interim deadlines may be set by individual tutors * You must choose at least one of the two presentations referred to below in Tasks 2 and 6. It is expected that the presentations will take place the week beginning 21st January. A summary of the Assessment
Free Communication Writing Marketing
Practice Test # 3 Useful formulas/expressions: (1) MPC = ∆ C / ∆ DI or ∆ C / ∆ YD & MPC + MPS = 1 (2) Exp. Multiplier = 1/(1-MPC) ∆GDP = Exp Mult. * ∆AE (3) Δ AE = Δ Income * MPC (4) DD Multiplier = 1/rrr ∆DD = DD Mult. * ∆Reserves Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. Long-run full-employment equilibrium assumes: a. a downward-sloping production function. b. a downward-sloping long-run supply curve (LRAS)
Premium Monetary policy Supply and demand Aggregate demand
History 1301 unit 4 Describe Americans westward migration in the 1830’s and 1840’s The United States continued to push its settlements towards the pacific coast. Settlers often spilled over the boarder of the United States‚ sparking international tensions with Mexico and England. They move in search for fertile land and economic opportunity. John Adams‚ agreement with Russia to limit territory to the boundary of Alaska. Leaving the US and Great Britain contenders for Oregon territory. 1818‚
Premium American Civil War Confederate States of America Slavery in the United States
Unit one: Principles of personal responsibilities and working in a business environment Assessment You should use this file to complete your Assessment. • The first thing you need to do is save a copy of this document‚ either onto your computer or a disk • Then work through your Assessment‚ remembering to save your work regularly • When you’ve finished‚ print out a copy to keep for reference • Then‚ go to www.vision2learn.com and send your completed Assessment to your tutor via your My
Premium Employment
Unit 4: Service improvement in the health sector Assessment You should use this file to complete your Assessment. How to complete and send your Assessment Save a copy of this document‚ either onto your computer or USB drive. Work through your Assessment‚ remembering to save your work regularly When you’ve finished‚ print out a copy to keep for reference Then‚ go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked
Premium Case study Improve The Residents
Spring 2013 World History Study Guide Unit Four: Industrialism and a New Global Age What was it‚ what significant changes happened during‚ and when/where did it take place? 3 main factors that contributed to the Industrial Revolution- Why were these factors so critical? How were tenements developed as a result of Urbanization? What are some characteristics about the 2nd Industrial Revolution? What 2 characteristics need to be present for a nation to industrialize? Why are some countries
Premium Industrial Revolution Europe United Kingdom
Your project should be submitted to the Dropbox by the end of Unit 4. Unit 4 Project Questions 1. What is the purpose of having an advance directive? The purpose of having an advance directive is to ensure that the patient receives the type of healthcare treatments and procedures he or she wants if they become incapable of communicating their healthcare decisions. 2. There are four types of advanced directives listed in your text. Please list and describe three of them: i. Living
Premium Tort Physician Tort law
Problem Set 3 ECON 973 Fall 2012 Fluctuations: Discrete Time Models Ben Brewer 12/10/12 1. a. Given this two-period problem of labor supply maxc1 ‚n1 ‚c2 ‚n2 ln[c1 ] + ln[1 − n1 ] + βln[c2 ] + βln[1 − n2 ] subject to the intertemporal budget constraint c1 [1 + r] + c2 = w1 n1 [1 + r] + w2 n2 Dividing each side by [1+r] for convenience gives c1 + c2 w 2 n2 = w 1 n1 + 1+r 1+r We can solve for consumption and labor supply in each period (c1 ‚ c2 ‚ n1 ‚ n2 ) by first setting up the Lagrangian
Premium Optimization Trigraph