Economic models Crucini/Driskill August 25, 2007 List of Figures 1 TheMonk’spaths .......................... 4 2 TheO’Rourkegraph......................... 13 d 3 Pairs of (P ,S ) ........................... 20 S i 4 Sd = 1 ............................... 21 i 4P S 5 Inverse linear demand function: Y = 3. .............. 24 i 4 6 Inverse demand functions with dierent Y ’s. ........... 24 i 7 P = 1 ............................... 27 S 4Sd i 8 P = 1 ; P = 1 ......................... 27 S 4Sd S Sd i i 9 Marketandindividualinversedemands .............. 31 10 Individualinversesupplyfunctions................. 33 11 Market and individual inverse supply . ............... 34 12 Depictingthedemand-supplymodel ............... 44 13 Equilibrium with dierentincome.................. 45 ...
ISET DEVELOPMENT ECONOMICS: SAMPLE EXAM QUESTIONS (1) We discussed the Banerjee and Duo’s ”Economic Lives of the Poor” in class. What is the reason for poorest people taking up multiple jobs? Why is taking up multiple jobs sub-optimal for the people in the long run? Why it might be optimal for the individual in the short run? Elaborate briey. (2) Think of one reason why a country with a lower ratio of capital to labor might grow faster than a country with higher ratio, and one reason why it might grow slower. Refer to models we discussed and ...
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