ECON 481 Homework Assignment #2 Due Date: January 31, 2018, 1:30 p.m. Based on the material you have read in the textbook and the information transmitted in class, answer the following questions. All answers must be well written – in your own words – and any diagrams must be properly labeled and explained. Any outside source(s) of information must be properly cited and referenced. You must cite all sources so that the reader could find them easily and reproduce the results. Failure to cite outside sources properly will be grounds for academic dishonesty. Failure to write in your own words will be grounds for academic dishonesty. Text must be generated via word processing and double-spaced. Anything not doublespaced will not be read and earn a grade of zero. Any handwritten text will not be read and earn a grade of zero. Diagrams may be hand-drawn or generated electronically. You may not change fonts. Assignments are due by 1:30 p.m. on the due date. Homework assignments may be submitted in class or delivered to Dr. Fuess in person in his office. Assignments must be submitted in paper format – electronic submissions will not be accepted. Assignments, or any parts thereof submitted after 1:30 p.m. on the due date will be subject to a significant and substantial late submission deduction for the entire answer set. Homework will be graded on the following basis: 75% of homework score, content of answers; 25% of homework score, writing style.