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Question: nent 03 due jan 28pdf updated jan 24 2019 by...

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nent 03 (Due Jan 28).pdf Updated Jan 24, 2019 by JAMES ZACHARY KLINGENSMITH Economics 102 Introductory Microeconomic Theory Homework 3- Due 1/28 (Start of Class) mplete the problems on another sheet of paper. Please show sufficient work. You do not need to turn this page i For each of the following, determine whether it would be studied in microeconomics or macroeconomics. a. The role of an increase in the tax rate on national expenditures b. The impact of a stimulus bill on the unemployment rate. c. The combination of goods a consumer should purchase to maximize their personal utility d. The level of production which would minimize a firms average total cost. Use the following information to answer questions 2-4. The two countries of Behrendonia and the Republic of Gannon produce widgets and gizmos. The opportunity cost of production is constant (meaning the PPF is linear.) Below is the maximum of each good each country could produce if they focused only on a single good. Behrendonia Gannon Widgets 500 300 Gizmos 250 300
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