QUIZ KEYS FOR MONDAY, OCT. 6 2008

1. Draw the Market for Euros on page 108 (figure 5-2) and explain it.
2. Draw a graph of the minimum wage. What are the costs and benefits of the minimum wage?
3. Explain the costs and benefits of third-party-payer markets.
4. What did you learn from John Cochrane’s talk on the financial crisis? Be specific as possible.

QUIZ KEYS FOR CHAPTERS 3 AND 4 AND THE ARTICLE ON INNOVATION”

“Can America Invent its Way Back?”
1. What is the conundrum that the author of “Can America Invent its Way Back?” cite? What solutions does he suggest?
Colander, Chapter 3.
1. Draw the Circular-Flow diagram
Colander, Chapter 4
1. What is the distinction between quantity supplied and  supply?
2. Draw a graph that reflects a contraction in supply and then an […]

QUIZ through first chapter in Wheelan and first two chapters in Colander

POSSIBLE ESSAY QUESTIONS:
Questions from Wheelan:
1. What, for Wheelan, is the unique way that economists view the world?
2. Who feeds Paris?
3. What do individuals maximize?
4. What do firms maximize?
5. Why should we allow that silly fool to buy a doggy birthday cake?
Questions from Colander:
1. What will happen if American innovation does not develop new industries?
2. […]

QUIZ KEYS FOR CHAPTER 27 AND “SICK AROUND THE WORLD.”

CHAPTER 27
1. What is the financial sector?
2. Explain the role of price and interest rates in the real and financial sectors.
3. Using the concepts of interest rates and inflation, explain how the housing bubble started in the earlier part of this century.
4. How does inflation affect the functions of money?
5. How do banks create money?
6. […]

QUIZ MOVED TO SECOND CLASS PERIOD OF NEXT WEEK.

The quiz on chapter 8 in Wheelan and chapter 22 in Colander has been moved to the second period of next week. Period 7 should pick up their testbanks on Monday. We will have a current events day on Monday.
1. You should be able to answer the following question from your Wheelan reading: “What can […]

QUIZ KEYS FOR MICRO FINAL

You must be able to draw and label the following graphs: 1. the production possibility curve 2-3a on page 29; the ciircular flow model of the economy 3-1 on page 64; graphs 6-2c and 6-2d on page 146 that illustrate elasticity along a demand and supply curve; graphs 8-1a and b that illustrate marginal and […]

QUIZ KEYS FOR CHAPTERS 17 AND 18

1. Be able to draw, label and explain Figures 18-1 and 18-2.

QUIZ KEYS FOR THE EVALUATION OF CHAPTERS 15 AND 16 AND STEVE KAPLAN’S TALK.

1. Describe the three components of Corporate Governance–the context and rules, the external controls, and internal controls.2. Are CEOs overpaid? Justify your answer.  

QUIZ KEYS FOR MONOPOLY EVALUATION DURING THE THIRD CLASS PERIOD

MAKE SURE YOU LABEL ALL AXES AND CURVES.
1. Be able to draw graph 12-1 that shows monopolist price and quantity as well as competitive price and quantity.
2. Be able to draw graph 12-3c that shows a monopoly making an economic profit.
3. Be able to draw and EXPLAIN graph 12-5 that illustrates welfare loss from monopoly.
4. […]

QUIZ KEYS FOR FRIDAY, JANUARY 4, 2008

Keys for Wheelan’s chapter on “Productivity and Human Capital.“1. What is the most insightful way to think about poverty? Why?2. Will the poor always be with us? Explain.3. Why is the gap between rich and poor growing ever wider in this country? Explain.4. Why does human capital matter so much? Explain.
 Keys for Colander’s chapter on […]