Assume that none of the following persons have a full-time
job, though all would like to have one. Which of them are
counted as unemployed?
a. A 15-year old high school dropout
b. A serving member of the US military
c. A prison inmate
d. A part-time worke
Certain aspects of each of the propositions in one way or another correlate with David H.
Autors analysis. What his analysis is trying to get across is that as time goes on, the demand for
higher education a
Midterm 1 Study Guide
Module 1: First Principles
1. Know the first principles, and their definitions
1. Positive vs Normative Economics
2. Fiscal vs Monetary Policy
2. Production possibility frontier:
a. When production is efficient/inefficient,
Alyshya Cubean - 011377466
September 19th, 2017
Writing Assignment #1
Based on the interview of Dr. Bruce Babcock and the US Department of Agriculture Crop
Production Report, this drought will affect both the soybean and corn markets
EconS 101 WA 1
Why Has Income Inequality Been Rising Since the 1970s?
Due in NetTutor through the link in Blackboard (learn.wsu.edu) by Friday,
September 16th, by 11:59 pm (PST)
Below are two competing views (Proposition #1 and Proposition #2) on why inco
Essay: Internships Comparison and Response
Engage in group assignments to deepen understanding and develop learning skills
Use writing as a learning tool to generate ideas, explore alternative interpretations and
approaches, record an
What will we assume?
o Economic agents
Pursue their own (self) interests to make decisions and these decisions
We seek to answer What, How, and Who
What is an Economy?
o Economics is all about the choices agents make in the conte
Market Surplus: quantity supply is more than quantity demanded- price needs to go
Market shortage: quantity demanded is more than quantity supplied- price needs to
Equilibrium: quantity demanded and quantity supplied are equal- price i
. Scarcity in economics means:
A) People do not have sufcient resources to produce all of the goods and services
B) The wants of people are limited.
C) There must be poor people in rich countries.
D) Economists are clearly not doing
. The largest HHI possible is
. In an oligopoly:
A) there are many sellers.
B) there are no barriers to entry.
C) rms recognize their interdependence.
D) total surplus is maximized.
. Oligopoly is a market structure that is characterized by a:
1. A price control is:
when a rm controls the price of the good it produces.
a legal restriction on how high or low a price in a market may go.
an upper limit on the quantity of some good that can be bought or sold.
a tax placed on
o A system for coordinating a societys productive and consumptive activities
Producers and consumers determine the 3 economic questions with
little government involvement
Regulated/ controlled market:
WA 1 E102
Why Has Income Inequality Been Rising Since the 1970s?
Due in NetTutor via the link in Blackboard (learn.wsu.edu) Sunday,
September 17 by 11:50 pm (PST)
Reading: Skills, education, and the rise of earnings inequality among the other 99 percent,
Fundamentals of Macroeconomics
What will you learn
o Analyze and think as an economist
o Take information and use an economic model to predict future economic events
Microeconomics vs. Macroeconomics
The branch of economics co
Production possibilities frontier (PPF)
o Illustrates the trade-offs facing an economy that produces only two goods (or
You give something to have something else
o Describes 3 important aspects of the economy:
History 105Roots of Contemporary Issues
Hours: T, Th 9:10-10:25
Dr. Ashley Wright
Office hours: T,Th, 10:30-11:30 and by appointment, Wilson 312.
Buying vs. Leasing a car
Specific purpose: To inform my audience of both the pros and cons of buying and
leasing a vehicle.
Open with impact: A typical car salesmen once said, IdontknowifIcandothat,
This exam has multiple choice and essay questions. The essay questions are worth 15 points and
you may wish to complete the essays BEFORE the multiple choice section.
MULTIPLE CHOICE (0.5 point each, 36 questions,
MATH 142 Elementary Statistics and Probability Section #5353
This is an ONLINE class. Most of your time will be spent working on your own
online. There are, however, four MANDATORY (required) on campus face-toface meetings on Wednesdays from 4-5
Impromptu Journal (30 points)
Topics: For your impromptu journal you will write a paragraph about ten different topics that
YOU know about. No extra research will be involved with this assignment. You can write about
topics that range from: sports, athlet
Lesson 7 Practice Problem
Consider the following supply and demand functions that we used in the Lesson 5 Practice
Problem (You can refer to that for some values that you might need later).
The government decides to charge a per unit tax
Chapter 3: Drug Dealers Living With Their Moms
Freakonomics: A Rogue Economist Explores the Hidden Side of Everything by Steven D.
Levitt and Stephen J. Dubner is a fascinating book that gives the
Lesson 27 Practice Problem
Consider a two firm duopoly that faces an inverse demand curve of
and constant marginal costs of MC=60
If firm 1 behaves as a Stackelberg leader (first mover) and firm 2 behaves as a Stackelberg
follower (second mover)
Lesson 1 Practice Problem 2
Apply the power rule to the following functions with respect to both x and y
1: f (x) = 3x2y2
f(y) = 2x3y+2+8y3
2: f(x) = 2xy+2y+12x3
f (y) = x2+2x
Lesson 3 Practice Problem 1
Consider the three bacon market situations below. In each, explain which curve(s) shift and
how the new equilibrium changes from the old. Explain your reasoning.
A reputable news agency reports that eating bacon leads to hea
Lesson 2 Practice Problem
Consider the demand function for ukuleles
where p is the price of a ukulele, Y is average income measured in thousands, and pl is the
price of a lei in Hawaii. Assume that Y=35 and pl=6.
What is the inverse d