Key to Test 3 study problems

Note: Problems 33 (the real 33, not the 28 33), 34, and 35 are not relevant for the test. They are from Chapter 9. Problem 26 is pretty tough, but try to figure it out anyway.

1-C, 2-D, 3-D, 4-D, 5-B, 6-C, 7-D,
8-C, 9-C, 10-A, 11-C,
12-C, 13-A, 14-A, 15-B, 16-D, 17-A, 18-B,
19-A, 20-D, 21-C, 22-C,
23-D, 24-C, 25-A, 26-B, 27-D, 28 (a.k.a, 33) -A,
29-D, 30-A, 31-B, 32-B, 33-B, 34-A, 35-A,
36-C, 37-D, 38 (oops, missing), 39-C, 40-C, 41-A, 42-A,
43-C, 44-C, 45-C*, 46-A, 47-D, 48-C, 49-B,
50-D, 51-D, 52-B, 53-D.

*Be careful on 45. The initial $1000 deposit is already money. The expansion process begins with that $1000 that was already money and becomes a deposit. The lending begins with $800. So total deposits expand by $800 x (1/.20) = $4000. Starting with $1000 would double count that $1000. (This differs from the case when the Fed buys bonds via open market operations. Those new reserves can be fully loaned out and you would want to use that first loan amount to calculate how much the money supply expands. Those reserves created by the Fed bond purchase are not "money" until loaned. )

If you have any questions you can try to contact me. I expect to be in Pittsburgh for the evening and will try to be online briefly when I get home from the Pirates game.

Good luck.

Answer Key to Study Questions for Test #2

Here is the key for the sample problems. I put this sample test together rather quickly so I apologize if there are some typos and repetition. Moreover, this key was put together rather quickly.

I am not sure that I will have internet access Monday evening. If you see me online I am happy to answer questions. However, if I am not online, please make sure you bring your questions to class at 10:15. Note: if there are any errors to the answer key I may not be able to update this blog. We will have to discuss them in the review session before the test.

1-A, 2-C, 3-D, 4-D, 5-B, 6-A, 7-D,
8-A, 9-A, 10-B, 11-D, 12-A, 13-B, 14-B,
15-A, 16-B, 17-C, 18-B, 19-B, 20-C, 21-C,
22-C, 23-D, 24-B, 25-D, 26-A, 27-A,
28-D, 29-A, 30-C,
31-A, 32-B, 33-D, 34-D, 35-D, 36-D,
37-C, 38-C, 39-A, 40-B, 41-B, 42-D,
43-A, 44-C

Update

The sample multiple choice problems are now on the I-drive. I will try to get the key posted soon. It will be posted on this blog.

I have updated the Test 2 review sheet. There are no questions on calculating unemployment. At this point you will not have to calculate a sample CPI. (However, given CPI figures you should be able to calculate an inflation rate.)

Make sure you do careful reading about the business cycle and how GDP, inflation, and unemployment relate to the ups and downs in economic activity!

Good Luck.

Answer Key to Sample MC Questions for Test 1

1-C, 2-D, 3-A, 4-B, 5-B, 6-B,
7-C, 8-C, 9-B, 10-A, 11-D,
12-D. 13-B, 14-B, 15-B, 16-D, 17-A,
18-B, 19-D, 20-B, 21-A, 22-B, 23-B, 24-C,
25-B, 26-A, 27-A, 28-B, 29-D, 30-C,
31-A, 32-C, 33-B, 34-B, 35-D.

Let me know if you think any of these is wrong.

AIM: CinciDood
email: jjulian@iup.edu

Practice Problems for Test 1

I've placed some practice multiple choice problems on the I-drive folder for test 1. The test is Tuesday. The problems are from chapters 1-3 of Krugman and Wells.

The test will cover chapters 1-3.

I will hand out a review sheet on Monday.

Sorry to have kept you a few minutes today. Time flies when we're having such a positive educational experience. ;-) I promise you'll get out early one day next week (in addition to the shorter day on Tuesday as you will likely need less than one hour to complete the test).

Have a good weekend.

JJ

Connecting to the I-drive from off campus

If you need help connecting to the I-drive, my expertise is limited.

A few tips:

All computer labs on campus ought to be mapped to the network drives. Go to My Computer and the network drives should be listed. Click on the I drive and look for my folder (jjulian). Then look for the Econ 121 folder for stuff relevant for this class.

If you have a computer and you live on campus, you will need to "map" it yourself. You can find instructions at http://www.iup.edu/house/resnet/map/

or at http://www.iup.edu/ats/sts/login/index.htm



If you are off campus you can access the drive from the internet (ftp). Here is a link to help you out: http://www.acad.iup.edu/.

Welcome Summer II '07 Students

You have reach the weblog for Econ 121-002. I hope to provide you with some useful links and information.

Be sure to refresh each time you visit this page.

I hope you enjoy the summer term. Best of luck.