End of Module Questions
1. The market for many goods changes in predictable ways according to the time of year,
in response to events such as holidays, vacation times, seasonal changes in production,
and so on. Using supply and demand, explain the change
I believe that the Waxman-Markey Bill should have been passed. Although the government and
electricity producers would have to spend more money on incentive programs and
compensation for higher energy prices, there would be numerous long term benefits for
Critical Thinking Questions
1. Compare and contrast the main hypothesis included in the Gaia hypothesis.
The Gaia hypothesis is composed of two different hypotheses which state that, life has affected
the planet and the environment to a large extent and l
Module 2&3 Questions
a. If all 307 registered fishermen were to be employed by hotels (in addition to the 3,409
people already working in hotels), how many hotel stays could Bermuda produce?
1,110,000 hotel stays.
b. If all 3,409 hotel employees were to b
1. Describe some of the opportunity costs when you decide to do the following.
a. Attend college instead of taking a job
If youre attending a college instead of taking a job then you are paying a lot of money when you
could be making money right out of hi
1. Assume you are a member of Congress. A staff member has just given you the following
Estimate for current
End of Module Reading Questions
1. In each of the following cases, in the short run, determine whether the events cause a
shift of a curve or a movement along a curve. Determine which curve is involved and the
direction of the change.
a. As a result of an
CH 35 QUIZ REVIEW
NAME _ DATE _
PART I: Multiple Choice
1. If a workers nominal wage rate increases from $10 to $12 per hour and at the same
time the general price level increases by 10%, the workers real wage has