lectur2 - Why Understand Economics? Big Three U.S....

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Why Understand Economics? Big Three U.S. Automakers, and the Strong Dollar of 1986 1986: $1 ===> 240 yen 1988: $1 ===> 120 yen 1994: $1 ===> 113.58 yen 1995: $1 ===> 104.08 yen 1996: $1 ===> 108.83 yen 1997: $1 ===> 121.05 yen
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Why Understand Economics? Big Three U.S. Automakers, and the Strong Dollar of 1986 1986: $1 ===> 240 yen 1988: $1 ===> 120 yen 1994: $1 ===> 113.58 yen 1995: $1 ===> 104.08 yen 1996: $1 ===> 108.83 yen 1997: $1 ===> 121.05 yen
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More Recent Currency Exchange Rates http://www.cals.ncsu.edu/course/are012/currency.pdf
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Why Understand Economics? You can read the Wall Street Journal Article in the Library’s Electronic Reserve Room: Click on the title of the article: Fateful Choice: Did U.S. Car Makers Err By Rais
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Why Understand Economics? ~26.5% of the U.S. Population was Born Between 1946 to 1964 “Baby Boomers” 2008: 44 to 62 years old How will this aging of our population affect our economy in the future?
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A 1993 Study by Prof. Ayers of Northwestern University 165 Automobile Dealers in Chicago Area Average Vehicle Profit White Men $362 African-American Men $504 White Women $783 African-American Women $1237 Does this represent racial and sexual discrimination, or ?
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A 1993 Study by Prof. Ayers of Northwestern University 165 Automobile Dealers in Chicago Area Average Vehicle Profit White Men $362 African-American Men $504 White Women $783 African-American Women $1237 Does this represent racial and sexual discrimination, or ?
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Average Cost of Raising a Child in 2007 Annual Household Expenditures On A Child Before Tax Income Ranges Age <$45,800 $45,800 – 77,100 > $77,100 0-2 $7,830 $10,960 $16,290 3-5 8,020 11,280 16,670 6-8 8,000 11,130 16,310 9-11 7,950 10,930 15,980 12-14 8,830 11,690 16,810 15-17 8,810 12,030 17,500 http://www.cnpp.usda.gov/Publications/CRC/crc2007.pdf
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Average Cost of Raising a Child in 2007 Annual Household Expenditures On A Child Before Tax Income Ranges Age <$45,800 $45,800 – 77,100 > $77,100 Total $148,320 $204,060 $298,680 Estimates based on expenditures for one child in a two- child, two-parent family, overall United States. Estimates are not adjusted for inflation. http://www.cnpp.usda.gov/Publications/CRC/crc2007.pdf
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Adjustments: If family has only one child, they will probably spend 24% MORE than the above amount on that child. If family has three or more children, family will benefit from economies of scale probably spend 23% LESS on each child http://www.cnpp.usda.gov/Publications/CRC/crc2007.pdf
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If you are a single parent, your monetary costs will be pretty close to those of two- parent families. http://www.cnpp.usda.gov/Publications/CRC/crc2007.pdf
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This note was uploaded on 12/06/2011 for the course ECON 101, 102, taught by Professor Staff during the Fall '10 term at Rutgers.

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lectur2 - Why Understand Economics? Big Three U.S....

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