Macroeconomics   ©

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Assignments for Macroeconomics Chapter 3

Assignment #1:  Define demand. State the law of demand. Draw a demand curve
and give reasons for the validity of your graph.

Assignment #2: Define supply. State the law of supply. Draw a supply curve
and give reasons for the validity of your graph.

Assignment #3: Draw demand and supply in a graph, and prove that their
intersection is a stable equilibrium point. In the process
define surplus and shortage.

Assignment #4: Distinguish between changes in quantity demanded and changes
in demand. List and explain nonprice determinants of demand.