- You are advised to make your work clear and well-presented; marks may be reduced for poor presentation. This includes filling your information on the cover page.
- The work should be your own, copying from students or other resources will result in ZERO marks.
- Use Times New Roman font 12 for all your answers.
these are the questions:
Q.1. We knows that a change in the price of a product causes a movement along the demand curve. Suppose consumers believe that prices will be rising in the future. How will that affect demand for the product in the present? Can you show this graphically?
Q.2. Suppose, as an economist, you are asked to analyze an issue unlike anything you have ever done before. Also, suppose you do not have a specific model for analyzing that issue. What should you do? Hint: What would a carpenter do in a similar situation?