econ - TODAYSMENU:Monday30August2010

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
TODAY’S MENU:  Monday 30 August 2010 I.  BUSINESS -   Practice Problems  (answers on Moodle) - Chapter 2:  1, 2, 4-8, 10 II.  SUBSTANCE A. Note on graphing: Appendix to Chapter 2- Look at how to graph in Chapter 2 - X is the independent variable ---  - Y is the dependent variable I B. Opportunity Cost Application:  International Trade (take one) 1. Questions to Answer a. If “workers in the United States” are the most productive in the world, “why do we consume so many  imported goods?” -These statements are true. It is because it is cheaper for us to import goods, such as clothing, from other  countries. This is all dependent on human labor input. These countries are very labor intensive. They have low  wages for a lot of work. They have the comparative advantage of producing goods because of the human  labor.  -Homework assignment : Take off every item of clothing that you have on now, and then note the country of  origin of the country that these things come from. (Shirt made in Nicaragua, pants in China, shoes in Vietnam, underwear in Sri Lanka, and bra in  China) -We do consume a lot of imported goods. Most people do not wear things that are from the U.S. Nearly 
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/01/2010 for the course ECON 2030 taught by Professor Bong during the Spring '07 term at LSU.

Page1 / 3

econ - TODAYSMENU:Monday30August2010

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online