Good X Good Y
|slope| increases with X
Per Capita GDP
In order of t
1. What month (and year) is summarized? What was the unemployment rate for that
month? How does that rate compare with the rate in the previous month?
a. The month that was summarized was January 2015. The unemployment rate for
that month was 5.7% This ra
1. What month (and year) is summarized? What was CPI-U for that month?
a. The date that was summarized was December 2014. The CPI-U declined .04&
for this month.
2. What was the rate of inflation (percentage change in the CPI-U) for the month?
How does th
1.Human Capital: Education, skills and abilities possessed by an individual social input into people
Acquiring private property
2.Physical Capital: the tools, equipment and factories that are used to harness natural resources. It is the
Compare the distribution of unemployment by duration over these years. What
relationship, if any, do you find?
What is a monopoly?
A monopoly is an economic structure in which a single entity or company owns a
commodity, patent, or some form of intellectual property which allows them to control the
market; and set the price for the good(s). Monopolies first formed
The Great Depression 10% uneomployment rate
WWII- Down to 1-2% unemployment
o Lots of Economic activity
o More products appearing
o Buying cars and houses
o Home ownership spiked
1960s s change in music, attitudes and consumption, another war
As a person continues to consume more of an item, _ s/he will get less
additional satisfaction (utility).
1.00 / 1.00
at some point
on the third unit
answer(s) on the fourth unit
You have completed the Lesson 2 Quiz.
Attempt Score: 20.00 out of a possible 20.00 (100.0%)
Assessment Score: 20.00 out of a possible 20.00 (100.0%)
Assessment Time: 13 minutes
_ costs are present in a PPF/PPC when resources
The THEME of our Economics course is - Trying to make the good
choices in a real world of constant challenges and on-going
NOTE: This THEME will be very evident in all of your
Assignments, Quizzes and Exams.
Do PRINT this THEME document. (use the
You have completed the Lesson 2 Preview Questions.
Attempt Score: 6.00 out of a possible 9.00 (66.7%)
Assessment Score: 6.00 out of a possible 9.00 (66.7%)
Assessment Time: 5 minutes
Part of the Economic Problem is that human
In the _ of the Circular Flow model, Households provide Consumption Spending
(or Revenues) to the Business sector in exchange for Goods and Services.
Type: Multiple Choice
Points Awarded: 1/1
Data Exercise Part 2
The data gathered from the BEA website presents a snapshot of 2014. The numbers