ECON 305 Study Guide - Final Guide: Karl Popper, Jargon, High School Football

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Use the scrap paper assigned to you for rough work only do not hand it in. Write your nal answers on the exam paper itself and limit yourself to the space provided below each question. Do not write on the back of the exam paper. For your own sake, write as neatly as possible and label all diagrams clearly. If a question asks you to explain, you are expected to provide economic intuition in plain english (making minimal use of economic jargon). Explain how a theory can be used to make conditional forecasts. [1b] according to karl popper, a theory is scienti c if and only if (complete the statement). There is a representative individual with preferences for con- sumption and leisure ( ) given by ( ) = ln( ) + ln( ) where 0 consequently, we have. ( ) = ( ) there is a time constraint + = 1 where denotes time spent working.

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