1. Pick any concept you enjoyed the most in this course and discuss it in 10 sentences. 2. Use the following table to solve the questions. [See page 27 of chapter 2] m m Good B $100 $201 200 $100 205 a) Compute nominal GDP in each year. b) Compute real GDP in each year, using 2015 as the base year. 3. Differentiate between stocks and ows. Give at least 5 examples of each. [Hintz See page 18, lecture slide of chapter 2] 4. Use the following table to solve for the following questions [See page 19-25 of chapter 3] Labor L On at MPL 0 0 ma 1. 10 ? 2. 19 ? 3 27 ? A . 3. Differentiate between stocks and flows. Give at least 5 examples of each. [Hint: See page 18, lecture slide of chapter 2] 4. Use the following table to solve for the following questions [See page 19-25 of chapter 3] Labor (L) Output (Y) MPL 0 0 n.a 1. 10 ? 2. 19 . J 3. 27 . J 4. 34 5. 40 6. 45 7 . 49 8. 52 9. 54 10. 59 a. Determine MPL at each value of L b. Graph the production function. c. Graph the MPL curve with MPL on the vertical axis and L on the horizontal axis