Homework 2 is due at 11:45 p.m. on Sunday, February 10th.
For the exam on Tuesday, bring the big blue scantron (#30423), a #2 Pencil, and a calculator.
The exam covers lectures 1 -4 and the "Link between resource and product markets" in Lecture 5. This roughly matches chapters 1-4 in the textbook.
Review Sheets, and the practice problems I did in class can be found on my website.
If you have questions about the homework or exam, e-mail me. I will respond and copy the question with answer to the comments under this posting.
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Aplia Update: I deleted question 14.2 because of lack of clairty (a question about spaghetti and tacos). 16.1 and 16.2 gave two options, but you have to pick the correct option and then follow its instructions.
I have been informed that question 25 was a repeat. To avoid people missing this problem twice, I have deleted it. Sorry for the trouble.
Q: I just want to confirm that while the Homework #2 has questions about price controls, they will not be on the test.
A: Correct, price controls will not be on the exam.
Q: What are the Sources of Economic Growth in the PPF model?
A: Technological or institutional improvements.
Q: What questions does society have to answer?
A: They are listed on a slide in the lecture notes: what to produce, how to produce it, and who receives the production.
Q: What is producer surplus?
A: The difference between the price the producer actually receives and the minimum price the producer was willing to accept for that unit of the good/service.
FYI: On the homework question 9.3 says Mexico has the comparative advantage in producing computers, but Aplia has the wrong answer, I will fix it when I score your homework. The U.S. has the comparative advantage in computers, Mexico has it in broomsticks.
Q: Do I have to know any formulas?
A: Yes, Opportunity cost and price elasticity of demand.
on question 12 of our review, can you please exlain a little more clearly how shocks in the resource market affect the product market and how the shocks in the roduct market affect the resource market
Who knows where to download XRumer 5.0 Palladium?
Help, please. All recommend this program to effectively advertise on the Internet, this is the best program!
Your blog keeps getting better and better! Your older articles are not as good as newer ones you have a lot more creativity and originality now keep it up!
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