Economics_Ch05

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Unformatted text preview: vertical. If a supply curve is vertical, does it follow that supply is (a) elastic, (b) inelastic, (c) unit-elastic, or (d) none of the above? Explain your answer. Graphing Economics 7. Graph the following: a. an increase in supply b. a decrease in supply c. an increase in the supply of good X that is greater than the increase in the supply of good Y Section 2 The Supply Curve Shifts 123 05 (110-127) EMC Chap 05 11/17/05 4:52 PM Page 124 Investing in Yourself W hen most people think of investing, they think of investing in such things as stocks, bonds, and real estate. Rarely do we think of investing in ourselves. Investing in yourself, however, is one of the most important things you can do. Everyone wants a high return from their investments. What could you invest in today—as a high school student—that could provide you with a high return tomorrow? Before we tell you what it is, let’s look at how the average 15- to 17-year-old spends his or her time each week. How You Spend Your Time According to a University of Michigan study, the average 15- to 17-year-old (in 2002–2003) each week spent 32 hours in school, 4 hours and 47 minutes socializing or It’s clear that if you invest more time, effort, and money in your education, your level of income will grow...
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This document was uploaded on 01/16/2014.

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