Daniel P. Smith
January 30, 2017
Page 728, Discussion Questions 1-13
1. Money is a Medium of Exchange that is usable for buying and selling good and services
1) Money is a Unit of Account. Society uses monetary units, dollars, as a yardstick
Chap 33 (Pg. 744) Discussion Qs 1,2,4, and 6
Review Qs 3 and 5
Traders/Merchants relied on the means of goldsmiths receipts because gold was not an easy
thing to measure when it came to its weight and
Chapter 34 Discussion Questions 2, 3, 5, and 7
The basic objective of monetary policy is to aid the economy to a full level of employment.
The feds monetary control, more importantly, open market operations (The buying a
Title of your Article
You are to find an article relating to the economy. The report must be related to one of the
topic listed on the attached list or a topic that is found in one of the chapters that we have covered
THIS trimester. You are to read the s
The end of ownership: The zero-marginal-cost economy
The Next Web News
WILLIAM CAREY UNIVERSITY
Todays society is doing business like no other generation before it. If you have
ever used a service from social media such as Airbn
The Power of Trade and Comparative Advantage
Microeconomics Chapter 2
Why We Trade
Three benefits of trade
1. Trade makes people better off when preferences differ.
2. Trade increases productivity through specialization and the division of
The Big Ideas
Microeconomics Chapter 1:
1787The British government hired sea captains to transport prisoners to Australia.
Their pay was determined by the number of prisoners transported.
As many as one third of prisoners died en
Preferences and Indifference Curves
How many carrots would you give up for one more banana?
If youre just as happy with 12 carrots and 12 bananas as you are with 9 carrots and 13 bananas,
we can begin to map your indifference curve
An indifference curve c
How to Invest
Assume you succeed in reducing spending by $1000 and put the money in a savings
account that earns 3% annually:
One time $1000 saved = nest egg of $3,260 after 40 years.
$1,000 saved annually = nest egg of $75,400 after 40 yea
Entitled to receive a free copy of your credit report (which does NOT contain your credit
score) every 12 months from each of the three credit bureaus-Equifax, Experian, and
Visit www.annualcreditreport.com and pri
The major goods imports of the United States (in dollar volume) are:
A) chemicals, consumer durables, aircraft, and grain.
B) automobiles, petroleum, computers, and household applianc