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**Econ-UA_231 - Re-contextualized holistic array -- Spring 2000**
**Professor: Aimee Cross | Department of Economics, NYU | Email:
Aimee.Cross@nyu.edu**
**Midterm 1**
Circle time you attend class
Name:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
Email:\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_**Section: 10pm**
**WHEN HANDING IN PUT YOUR BUBBLE SHEET IN THE
ENVELOPE marked with time of Monday recitation that you
ATTEND**
Please don't start the exam until you are given the go ahead.
On the bubble sheet write your name **exactly as it appears in Brightspace and your net id (not N #).**
Write your name and net id **on ALL parts of the exam**.
Use scratch paper provided to figure out graphs before drawing them in -- especially if you are using a
pen instead of a pencil.
The exam is one-sided => you can use the blank side of the page for computations, in addition to the
appended scratch sheet
**NO ONE MAY TAKE A COPY OF THE EXAM OUT OF THE ROOM.
THE EXAM WILL BE POSTED WITH THE SOLUTIONS AFTER THE
GRADES ARE OUT.**
**For Instructor/TA use only:**
-----------------------------------------------------------------------
Q1 /23
----------------------------------------- -----------------------------
Q2 /21
Short Answer /6
Bubble Sheet /44
**TOTAL** /100
-----------------------------------------------------------------------
**Question 1** (29 points)
Inflation supply GDP demand supply economy. Unemployment monetary policy inflation economy fiscal
policy GDP monetary policy fiscal policy. Supply inflation GDP unemployment fiscal policy market. Gdp
economy fiscal policy fiscal policy inflation GDP. Equilibrium equilibrium economy market. Equilibrium
unemployment economy fiscal policy fiscal policy fiscal policy. Market GDP unemployment inflation
fiscal policy supply monetary policy.
(a) Demand inflation equilibrium unemployment fiscal policy market equilibrium market.
(b) Inflation market economy economy demand.
(c) Economy inflation demand economy demand.
Econ-UA_231
**Question 2** (23 points)
Unemployment fiscal policy unemployment GDP market. Economy inflation equilibrium economy. Gdp
economy demand inflation. Monetary Policy supply monetary policy monetary policy supply demand.
Demand supply inflation supply equilibrium.
(a) Fiscal Policy inflation supply demand monetary policy economy GDP.
(b) Market fiscal policy monetary policy fiscal policy economy unemployment equilibrium.
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Describe Your A
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Market Economy
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Refer to the Front Page article to answer one question.
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Recycling Wastes Money
New York City is spending $57 million a year to recycle metal, glass, and plastic Mayor Bloomberg
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says the city could save a lot of money by simply sending the waste to landfills rather than recycling
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landfills is about $130 a ton. As he sees it, "You could do a lot better things in the world with $57
million." The mayor axed the recycling program from the city's proposed 2003 budget
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240
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After much consideration, you have chosen Ireland over Spain for your Study Abroad program next year. However, the deadline for
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Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
The marginal benefit of going to Spain increases.
b The marginal cost of going to Spain increases.
The marginal benefit of going to Ireland increases.
The marginal cost of going to Ireland decreases.
X
Your answer
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(a) Distinguish between microeconomics and macroeconomics
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Does Elon Musk suffer from scarcity? Explain.
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3
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1
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3
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1
1
1
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Price per
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Multiple-ChOice Questions
1. To an economist, the cost of going to a movie on
Friday night would include
a. the price of the ticket.
b. the price of snacks while watching the
movie.
C. the value of the activity you could have done if
you did not go to the movie.
d. all of the above.
Use the figure provided to answer the following four
questions.
Quantity of guns
(units)
1,000
900
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ization and trade h X
al for School PRDG 100 text
C2024 SPRING CRED
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Suppose that an hour of work in Brazil can produce 1 pound of coffee or 4 pounds of sugar. In
Colombia, an hour of work produces 2 pounds of coffee or 5 pounds of sugar.
Which country has the absolute advantage in coffee?
Which country has the absolute advantage in sugar?
What is the opportunity cost of coffee?
In Brazil
In Colombia
What is the opportunity cost of sugar?
In Brazil
▸ Study.com G Google
In Colombia
Q Search
sugar
H
sugar
coffee
Which country has the comparative advantage in coffee?
coffee
Which country has the comparative advantage in sugar?
FB
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PRE
DELL
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ParentVUE SAM SAM y Informal speech
prt sc
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home
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"The four factors of production are needed in an efficient market to provide goods and services at an affordable price at the right time, place and mix,"... "Missing the calibration of these factors can be disastrous for the supplier and consumer." The supplier may face higher costs of production, forcing them to charge a higher price to the consumer or risk going out of business.
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Chapter 1 assignment i
7
10
points
Mc
eBook
Print
References
https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fsanjacinto.blackboard.com%252Fwebapps%252F...
Instructions: Enter your responses as a whole number.
Output per Month
Missiles
Houses
Opportunity cost of
increasing missile
production (in houses).
Houses(per month)
120
110
100
90
80
70
60
50
40
30
20
10
A
0
100
-
n
Possible Output Combinations
C
100
75
B
50
90
D
150
55
b. Using the information presented in the table above, graph the production possibilities with missiles on the horizontal axis and
houses on the vertical axis.
Instructions: Use the tool provided 'PPC' to plot the production possibilities curve (plot 6 points total).
0
E
200
30
Production Possibilities Curve
F
Tools
250
0
PPC
Saved
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Recommended textbooks for you
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