2. The relationship between price of starfish and quantity is inverse. When price increases,
quantity demanded decreases.
3. Three dozen are demanded at a price of 5.
4. The slope uses (2,6) and (7,1), so it is (1-6)/(7-2)= -5/5 = -1
5. When there
1. What are the things that cause demand to change?
Tastes and preferences , Income, Prices of related goods, Number of buyers, Future
2. In which of the three basic questions facing any society does technology play the greatest role
Everybody have that one friend that went through a breakdown where they are hurt from
losing someone they truly loved in a relationship. I have a close friend of mines name Sleepy
whos been in a relationshi
1. What is a key problem with the way the NBER dates recessions and recoveries?
A key problem with the way the NBER dates recessions and recoveries is that they look at
historical data and to date phases of the business cycle after they occur rather than
In an MS Word Document, answer the following questions. Upload your MS Word Document using D2L.
1. Describe the impact of rising interest rates on consumer spending.
The impact of rising interest rates on consumer spending is less business investment.
Check Your Understanding
1. Describe the difference between average propensity to consume and marginal propensity to
The average propensity to consume is the amount of income that is consumed on goods and
services rather than on savings. The way
1. Why is it that America uses heavy duty street cleaning machines driven by one person but other
countries employee many people with brooms?
America uses heavy duty street cleaning machines driven by one person because it will get the
job done fa
My Mother Never Worked
-By Bonnie Smith-Yackel
1. What kind of work did Martha Smith do while her children were growing
up? List some of the chores she performed.
Some of the chores that smith did while her childrens were growing up
1. Explain why government spending theoretically gives a bigger boost to the economy than tax
Tax cuts have less of an impact on the economy than government spending because some of the
tax cuts is added to saving and is withdrawn from the economy.
Demand of ShoesThe demand of the brand Jordans shoes increases when basketball is in season and a
professional basketball player is promoting them. All the NBA players are wearing Jordans and
that is why the factor of taste and preferences comes in. Kids
COSTS AND BENEFITS CHARTShould I go to college out-of-state?
My Florida pre-paid college plan would not be
I would be able to play college hockey, adding four
more years of womens hockey, which is not in
Supply for the MacBook AirsWhen the MacBook Air is more expensive is when aluminum, other resources, prices are up
causing the sale of MacBooks to decrease, shifting the curve to the left.
When aluminum is cheaper the price of laptops slightly decreases,
There's a photo on my wall of a woman I've never
met, its left corner torn and patched together with tape. She looks
straight into the camera and smiles, hands on hips, dress suit neatly
pressed, lips painted deep red. It's the
Oral Presentation Assignment
IUF 1000: What is the Good Life
Theme: Good Life & Real Life Confronting the Essential Questions of the Good Life
Each semester, your Good Life instructors are asked some version of the following question: How
Someone who believes in macroeconomic policy activism would suggest that
changes in the money supply or changes in fiscal policy are ineffective in keeping inflation
balancing the government deficit is more important than current economic problems
In the long run, the aggregate price level has:
no effect on the quantity of aggregate output. (correct answer, your response)
a positive effect on the quantity of aggregate output.
a negative effect on the quantity of aggregate output.
an impact on ag
Which of the following would be included in the U.S. current account?
factory in Japan purchased by a firm in the United States
share of stock of a company in the U.S. stock sold to someone in Japan
dividend on a share of stock of a company in the U.
Contractionary monetary policy involves
increasing the money supply, interest rates, and aggregate demand
increasing the money supply, and decreasing interest rates and aggregate demand
decreasing the money supply, interest rates, and aggregate dema