PPT-ECON 100 Tutorial: Week 24

Extra slides for exam revision Ayesha Ali aali11lancasteracuk Office Hours Tuesday 200300 LUMS C85 Revision TrueFalse Questions 1 25 from Last Years Week 24 Tutorial Worksheet. 1 miles www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office hours: 3:00PM to 4:45PM . tuesdays. LUMS C85. Question 1. Use AD-AS analysis to show how each of the events below will affect the equilibrium price level and real output in an economy in the short run when the aggregate supply curve . 17. Shane Murphy. s.murphy5@lancaster.ac.uk. Office Hours: Monday 3:00-4:00 – LUMS C85. Outline. Roll Call. Problems. Chapter . 26: . Problem 3. Your uncle repays a loan from a bank by writing a . cheque. Week 10. Ayesha Ali. www.lancaster.ac.uk/postgrad/alia10/econ102.html. a.ali11@lancaster.ac.uk. o. ffice hours: 8:00AM – 8:50AM . tuesdays. LUMS C85. Question 1 . H2OClean Ltd supplies domestic kitchen water filters to the retail market and hires workers to assemble the components. A water filter sells for £26, and H2OClean can buy the components for each filter for £1. Kevin and Sharon are two workers for H2OClean Ltd. Sharon can assemble 60 water filters per month, and Kevin can assemble 70. If the labour market is perfectly competitive, how much will each be paid? . Shane Murphy. s.murphy5@lancaster.ac.uk. Office Hours: Monday 3:00-4:00 – LUMS C86. Outline. Substitute Lecturer Next Week. Roll Call. Class Rep. Problems. Discussion. Class Rep. Exercise. Consider the following demand function: Q. www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office. : LUMS . C85. Keynesian Cross Diagram. Last week we calculated GDP using the expenditure method where . . GDP . = Aggregate Expenditure (AE) = C + I + G + . 6. Shane Murphy. s.murphy5@lancaster.ac.uk. Office Hours: Monday 3:00-4:00 – LUMS C85. LUMS . Maths. and Stats Help (MASH) Centre. Are you mystified by . maths. ? Stuck with statistics? The LUMS . Ayesha Ali. www.lancaster.ac.uk/postgrad/alia10/econ102.html. a.ali11@lancaster.ac.uk. o. ffice hours: 8:00AM – 8:50AM . tuesdays. LUMS C85. Today’s Outline. Planet Money Podcast – . Invention of the Economy. Week 10. Ayesha Ali. www.lancaster.ac.uk/postgrad/alia10/econ102.html. a.ali11@lancaster.ac.uk. o. ffice hours: 8:00AM – 8:50AM . tuesdays. LUMS C85. Question 1 . H2OClean Ltd supplies domestic kitchen water filters to the retail market and hires workers to assemble the components. A water filter sells for £26, and H2OClean can buy the components for each filter for £1. Kevin and Sharon are two workers for H2OClean Ltd. Sharon can assemble 60 water filters per month, and Kevin can assemble 70. If the labour market is perfectly competitive, how much will each be paid? . www.lancaster.ac.uk/postgrad/alia10/. a.ali11@lancaster.ac.uk. office hours. : . 3:45PM . to 4:45PM . tuesdays. LUMS C85. Some notes for the last section of ECON 100. You’ve had some experience with David Peele’s questions – on Exam 4. 2. Why study bubbles?. “[An] issue that clearly needs more attention is the formation and propagation of asset price bubbles…I suspect that progress will require careful empirical research with attention . www.lancaster.ac.uk/postgrad/murphys4/. s.murphy5@lancaster.ac.uk. office: LUMS . C85. Permanent Income Hypothesis. People will spend money at a level consistent with their expected long-term or lifetime income. When young, people generally borrow, when middle aged people pay off their loans and save for retirement, and when old, people spend what they saved.. Shane Murphy. www.lancaster.ac.uk/postgrad/murphys4/econ15. s.murphy5@lancaster.ac.uk. Today’s Outline. We’ll review the exam from Friday. Which of the following reasons can explain why people have preferences for holding money?. Shane Murphy. www.lancaster.ac.uk/postgrad/murphys4. Today’s Outline. Exam Questions. Is there anything you’d like to go over regarding Friday’s Test?. In Week 17: You’ll have an exam recap with Kwok (in the lecture) and you get your marked exams back as well (in the tutorial)..