Name: Homework #1 Due: Sun, Jan 31, 11:59pm Read the directions carefully and answer all parts of each question. Write neatly; if I can't read it, it will be counted wrong. You may work in groups, but you must submit your own solution. Any submissions that are word-for-word identical will receive a score of 0. No late homework will be accepted under any circumstances. 1. Categorize each of the following as microeconomics, macroeconomics, or not economics. (6 pts.) a. National unemployment rate b. Decision of worker to accept overtime c. Family's choice to have a baby d. Rate of growth of money supply e. National government's budget deficit f. Student's allocation of study time across two subjects 2. Give an example of an incentive to attend college and identify the party/actor/etc. offering the Incentive. (4 pts.) 3. Complete the following table. Also find the quantity that maximizes surplus. (16 pts.) Quantity Total Benefit Total Cost Marginal Benefit Marginal Cost 0 20 20 50 1900 80 140 20 200 1000 12.5 5000 4040 10 500 7000 10040