Homework 2 - Homework 2 Due date for this homework can be...

Info icon This preview shows pages 1–7. Sign up to view the full content.

1 Homework 2 Due date for this homework can be found on Blackboard. You can either type or hand-write your homework. Homework must be stapled and submitted in class as a hard copy. No e-mailed homework accepted. 1. [Chapter 4]
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

2 2. [Chapter 4]
Image of page 2
3 3. [Chapter 5] 4. [Chapter 5]
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

4 5. [Chapter 6] 6. [Chapter 6] Draw four graphs: 1) Tomatoes in the US 2) Poultry in the US 3) Tomatoes in Mexico 4) Poultry in Mexico. Each graph should have autarky price, world price and CS/PS areas labeled with capital letters.
Image of page 4
5 7. [Newspaper Articles / Blogs] Read the following two articles. In the first paragraph, summarize the articles in 6 to 9 sentences. In the second paragraph, write your opinion for both articles in 6 to 9 sentences using the economics concepts that we learnt. It doesn’t matter if you agree or disagree with the article, but explain why. For some articles, there is nothing to agree or disagree with. If that’s the case, then write down what you found interesting or the new facts that you learnt, in your second paragraph. April 20, 2012 With Venezuelan Food Shortages, Some Blame Price Controls By WILLIAM NEUMAN CARACAS, Venezuela — By 6:30 a.m., a full hour and a half before the store would open, about two dozen people were already in line. They waited patiently, not for the latest iPhone , but for something far more basic: groceries. “Whatever I can get,” said Katherine Huga, 23, a mother of two, describing her shopping list. She gave a shrug of resignation. “You buy what they have.” Venezuela is one of the world’s top oil producers at a time of soaring energy prices , yet shortages of staples like milk, meat and toilet paper are a chronic part of life here, often turning grocery shopping into a hit or miss proposition. Some residents arrange their calendars around the once-a-week deliveries made to government-subsidized stores like this one, lining up before dawn to buy a single frozen chicken before the stock runs out. Or a couple of bags of flour. Or a bottle of cooking oil. The shortages affect both the poor and the well-off, in surprising ways. A supermarket in the upscale La Castellana neighborhood recently had plenty of chicken and cheese — even quail eggs — but not a single roll of toilet paper. Only a few bags of coffee remained on a bottom shelf. Asked where a shopper could get milk on a day when that, too, was out of stock, a manager said with sarcasm, “At Chávez’s house.” At the heart of the debate is President Hugo Chávez ’s socialist-inspired government, which imposes strict price controls that are intended to make a range of foods and other goods more affordable for the poor. They are often the very products that are the hardest to find. “Venezuela is too rich a country to have this,” Nery Reyes, 55, a restaurant worker, said outside a government-subsidized store in the working-class Santa Rosalía neighborhood. “I’m wasting my day here standing in line to buy one chicken and some rice.”
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

6
Image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern