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Most Economic Issues Involve Supply and Demand in Some Way
Supply and demand form the foundation of economics. You will use these concepts
throughout the remainder of the semest
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The Labor Market
From Products to Inputs
With this chapter, we turn our attention from product markets to input markets. Behind
the production of goods and services lie workers, machinery, and pl
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Production and Cost Are Behind Decisions About Supply
Having looked in the last chapter at what lies behind demand curves by examining
how consumers make choices, in this chap
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If Competition Serves the Public Interest, Why Do Firms
Want to Be Monopolies?
Monopoly is the other extreme on the market structure spectrum, opposite from
the competitive market ideal
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Elasticity Is an Important Summary Measure of Demand and Supply
Elasticity is an important extension of supply and demand concepts. In the previous chapters, we saw that when price cha
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Competition, Monopoly: Now What Is in the Middle?
We have already analyzed competition and monopoly, which are market structure
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The Perfectly Competitive Market Model Is a Cornerstone of
If the concept of supply and demand is the foundation of economics, the analysis
of market structure
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The Important Logic of Consumer Choice
Supply and demand analysis is based on the premise that consumers and producers
make rational decisions about what they want and
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Market Failure, Public Policy, and Using Economic Analysis to
Understand Environmental Problems
Even perfectly competitive markets can fail to provide the socially
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Economics Is a Rich Discipline of Wide Scope
In this first chapter, you are given a general introduction to economics. You will see
the scope of economics as a way of thinking
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Why Do Some People Make More Money Than Others?
Is Poverty Inevitable?
Some people are fabulously rich and spend money extravagantly. Other people are
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Buyers and Sellers Come Together in Markets
In the previous chapter, you learned of supply and demand analysis. In describing
the workings of supply and demand, we used a sty
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Production and Factor Markets: Land, Capital, Project Funding,
Innovation, and Economic Growth
In the last chapter, we looked at the theory of labor markets
Expressionism Theory Defined.
Expressionism is the theory that art is a
mode of human expression.
Thus emotion plays an important part.
Art is measured on how well it conveys
emotion and mood.
Like realism, it is one of the o
Art Defined: An object made by humans to
express or decorate.
Covers a vast area of definition including
The definition is not dependent on quality.
Art can be effective or not, goo
Formalism is the theory that art is best
understood and evaluated as the use of
The Enlightenment philosopher Kant
claimed that art can stand on its own rather
than conform to realism or expressionism
Kitsch is a recent term used to describe the
considered bad art of popular culture.
The art theorist Clement Greenberg calls
Kitsch a rear-guard on the opposite end of
Avant guard is a term describing
experimental and rad
Liberal Race Theory
o Emphasizes total equality
o Regards color blind as a virtue.
Critical Race Theory
o Deeper questions regarding
o color conscious
o Connection to Frankfurt School and
Horror often makes use of the Uncanny.
Freuds definition of the Uncanny was a
mixture of the horrific and the familiar.
Monsters are often viewed as uncanny
because they are often are modeled on
familiar things like bugs.
Contextualism is the theory that uses art to
reflect social elements.
It is a contrast to Formalism because it does
not value the objective qualities of line and
The theory is traced back to the German
Classical Horror gets much of its
iconography and style from German
The first feature-length vampire film was
Murnau was a German Expressionist much
like his fellow filmmakers.
The Four Problems of Economic Life
Daniel Rush Finn
Any attempt to simplify the complexities of life to improve our understanding entails the imposition of a
structure. Thus, the schema of four problems of economic life to be pre
December 11, 2010
Tax reform is becoming a more popular and talked about solution to aid the U.S.
economy. Even with lower tax rates, tax reforms could raise the average tax bill by closing
loopholes and removing deductions and c
December 7, 2010
Why Employers Wont Hire
Last month there was a decrease in unemployment, but not nearly as large as economists
predicted. This past November saw the creation of only 39,000 jobs which fell well short of the
November 16, 2010
Increase in Retail Sales
Retail sales increased 1.2% this past October, making October the fourth consecutive
month retail sales have increased. Economists predicted that sales would increase in October, but
the increase w
November 9, 2010
America Slashes Debt by $1 Trillion
Over the past 2 years the American people have lowered their national debt from its peak
in 2008 by about one trillion dollars, although the pace of lowering is slow. As of September 30
October 26, 2010
As of last Monday the US dollar has hit a 15 year low when compared to the Japanese
yen. Still, the United States is practicing something called quantitative easing. This is bad for
the dollar because the
November 2, 2010
As Europe Cuts, America Spends
Having gotten out of periods of economic recession, the UK and USA are both trying
opposite approaches to fixing the economy. Europe is going to try to cut spending while America
is going to c
October 12, 2010
People are still debating over why the unemployment rate is still so high. Currently,
unemployment is at 9.6%, finally beginning to fall from over 10%. Most people seem to think
that there simply arent enough jobs for pe