Monday, December 11, 2017

Assignment Due Tues. 12/12

Read ch. 9 p 152-156
Bea able to calculate C, S, APC and APS
Define MPC and MPS
Be able to calculate MPC and MPS
Contrast Average Propensities and Marginal Propensities


On your "Keynesian Chart" from class, complete the C, S, APC, and APS columns

Tax and Spend Review Sheet

Use the following questions as a guide when studying for Wednesday's test"






 Taxation


 


1.  What is tax revenue and why is collecting it necessary to a functioning society?


  


  1. Consider the benefit principle of taxation:
     


  1. Define the benefit principle of taxation.  On what are such taxes based?
     


  1. What is an example of a tax that is based on the benefit principle?
     


  1. What are two drawbacks of taxes based on this principle?
      


  1. Consider the ability to pay principle of taxation:
     


    1. Define the ability to pay principle of taxation.  On what are such taxes based?
       
    2.  What is an example of a tax that is based on the benefit principle?


 


    1. What are two drawbacks of taxes based on this principle.
       


  1. What is a progressive tax?  Give an example of a progressive tax and explain how one’s tax rate is determined.
      


  1. What is a proportional tax?  Give an example of a proportional tax and explain how one’s tax rate is determined.
      
    6        What is a regressive tax?  Give an example of a regressive tax and explain how one’s tax rate is determined.
     


  1. Most states do not place sales taxes on groceries.  Explain, using specific tax vocabulary, why this is often the case.
      


  1. What is a budget?  Why is it important for government (and individuals) to create them?
      


  1. What does it mean if a federal program is considered part of “mandatory spending”? 
      


  1. What does it mean if a federal program is considered part of “discretionary spending”?
     


  1. What is a budget deficit?
     
     


  1. What is a budget surplus?
     


  1. Explain the difference between a budget deficit and national debt?
      
          13.  Identify two arguments for each point of view on the chart below:
     


The national debt is a major problem that we must do something about immediately!
The national debt, while large, does not represent a major threat to the US economy today.
 
1.
 
 
 
2.
 
 

Monday, November 27, 2017

Helpful websites for the federal budget project

Use the three websites below to find out what is contained in each category for the federal budget.  You need to do this to determine what you wish to expand, cut, or keep the same.  You will also need detailed information in order to write your explanations for the changes.  Rem






https://democrats-budget.house.gov/budgets/budget-functions


https://www.cbpp.org/research/federal-budget/policy-basics-where-do-our-federal-tax-dollars-go


https://fas.org/sgp/crs/misc/R41726.pdf







Thursday, November 2, 2017

Blog Discussion 11/3: Should Every American Be a Homeowner?





Read/listen to all of the links.  Explore other sources on your own.  This will be an interesting conversation if you are prepared.  Looking forward to it!


Come to class prepared with 3 OPEN ENDED questions for class discussion.  Do not post here!

The Myth of Home Ownership (NPR)
http://www.npr.org/templates/story/story.php?storyId=126076105

Buying a House if For Suckers
https://www.entrepreneur.com/article/270632


10 Financial Benefits of Home Ownership
http://www.youngadultmoney.com/2015/09/04/10-financial-benefits-of-homeownership/


Reasons to Own
https://www.thebalance.com/eight-reasons-to-buy-a-home-1798233

Friday, October 27, 2017

GDP Webquest: Complete for Monday 10/30

All work should be completed on the handout from class.  If you were absent you should print the form and complete for Monday.


http://www.sartell.k12.mn.us/sites/default/files/u197/Gross%20Domestic%20Product

Monday, October 23, 2017

Chapter Title: Measuring Domestic Output and National Income (Check table of contents for ch. #. My version is ch. 7)

Due Tuesday, 10/24


1.  Why is it important for the Bureau of Economic Analysis to compile GDP data quarterly?
2.  Explain and provide an example of each type of transaction included in GDP:
a.  Consumption
b.  Investment
c.  Government Purchases
d.  Net Exports
3.  Contrast planned investment and unplanned investment.


Get outdoors!




Due Wednesday, 10/25


1. What is double counting in terms of GDP? Why is it an important error to avoid?
2.   Explain and provide an example of each type of transaction excluded from GDP:
a.  Intermediate products
b.  Secondhand sales
c.  Transfer payments
d.  Nonmarket transactions
e.  Non-productive transactions
f.  The Underground Economy



Monday, October 2, 2017

Ch. 3 Assignment 1: Due tues 10/2

1.  Review both reasons D curve is downward sloping.
2.  Contrast normal goods and inferior goods.  Provide examples.
3.  Explain the income effect and substitution effect.
4.  Go outside!  it is a beautiful day.

Thursday, September 28, 2017

Blog Assignment 2: Due Friday 9/29

An easy but interesting assignment!  Please be well prepared for class.


We have been talking about scarce resources, efficiency, and opportunity costs for two weeks.   usually when we think of resources it conjures images of iron, farm crops, and machinery.  But the most important resource is how we all use our time.  Please listen to the podcast linked below.  All you need to do is write 3 interesting and open-ended questions to serve as discussion starters tomorrow for our discussion.   You need not post your questions, just have them written for class.  We will be checking participation tomorrow (not like last time) so please listen and even read the comments and do some additional research on your own.  I think this is a great topic everyone!




HOW TO BE MORE PRODUCTIVE! 



t/how-to-be-more-productive/

Wednesday, September 20, 2017

Assignment #3: Due Monday, 9/25

Read ch. 2 in its entirety. 




1.  Be conversant all 3 economic systems as we studied in class.  Use the text to review and refine your understanding.


2.  Explain the significance of Adam Smith's publication of the Wealth of Nations.  Specifically explain his statements on:


a.  Specialization.


b.  The "invisible hand"


3.  Understand the Circular Flow Model as a representation of the market economy.  Define:
a.  Factor Market
b.  Product Market
c.  Businesses/Firms
d.  Individuals/Households


Be able to refine and provide examples of each.  Attempt to understand the relationships (arrows) that connect each sector the market economy.




4.  Review all other ch. 2 material including:
a.  Fundamental questions
b.  Factors of production
c.  Enjoying a long weekend and celebrating a holiday with family if you observe!

Wednesday, September 13, 2017

Assignment #2: Chapter 1 Due Friday 9/15

1.  How would an economist view and explain the promotional advertisement below?
Image result for free timeshare vacation promotions




2.  Write a model statement/example for each of the following:


a.  Loaded Terminology
b.  Fallacy of Composition
c.  Correlation versus Causation






3.  Assess the validity of this statement using information from the chapter:


"Economics is a science because it utilizes data and statistics to prove or disprove theories through experimentation and observation."







Does Money Equal Happiness? Post your response by class time on Thursday 9/14.

Once you have created a "Blogger" login, read the assigned article and respond in a paragraph or more to one of the questions below.  You can choose to address more than one of the choices or come up with your own alternative response. 






1.  Have your ever thought about the money/happiness relationship before?  What were your original thoughts and did they change at all as a result of what you read?  Explain with great detail!




2.  What is the author's main thesis?  Evaluate the argument based on your own experience or that of family and friends.  Spend some time researching an alternative thesis and explain how it critiques your assigned article. 





3.  Will you change the way you live today or your career/life goals as a result of the ideas expressed in the article?  Explain with great detail. 

Monday, September 11, 2017

AP Econ. 2017: Assignment #1

Complete in your notebook.  Also, for future use, create an account in Blogger that is identifiable to you.  For example, first name, last initial, econ. period.

Read pages 3-10
1.  Consider the text's definition of scarcity.  How is this principle impacting current American life?
2.  Explain an example of a life choice that was informed by rationalism and marginal analysis.
3.  Identify 3 fields/issues studied in Macroeconomics and 3 fields/issues studied in Microeconomics.
4.  Write a normative statement.  Be creative!
5.  Write a positive statement.

And just like that you are done with your first HW assignment in AP Econ!

Monday, June 5, 2017

Extra Credit Opportunity: The Sounds of the Economy!

Welcome to the last week of senior year!  If you want to raise your 4th quarter grade at the last minute, here is your one chance.  This is a 10 point extra credit assignment for those who do it well. 




1.  Select a song of any genre with a significant economic message.


2.  Identify a specific segment of the song's lyrics to analyze.  Capture these lyrics and save them to a PPT. slide.  Also, locate an audio file (or Youtube video) of your song.  We will listen to it in class, paying special attention to the selected lyrics.


3.  You should then lead a brief class discussion on the economic meaning of your song.  You should be able to discuss the artist's background, influences, and the intent of her/his message.  You should be familiar with the time period in which the song was written and other outside factors that may have impacted the creation of the song.


4.  You should be able to answer questions from the class.


YOU MUST BE PRESENT IN CLASS TO PRESENT THIS PROJECT FOR EXTRA CREDIT.  PRESENTATIONS WILL TAKE PLACE ON WEDNESDAY AND THRUSDAY.  IF YOU ARE NOT IN CLASS, YOU CANNOT PRESENT. 




GOOD LUCK AND HAVE FUN!




*A NOTE ON PROFANITY:
Artists may use vocabulary that is not school appropriate.  For the purpose of this assignment, we can be lenient in terms of what is acceptable for school (we are all big boys and girls!)  However, please do not select a song with lyrics that are gratuitously offensive, vulgar, or sexual. 







Tuesday, April 25, 2017

International Econ. Review Sheet Answers

1.
A.  Mexico
B. Mexico
C. Mexico
D. USA
E. Nations should specialize in the good for which they have the lowest OC and trade for the other good.  This in turn leads to greater total production of both goods, raising standard of living.




2. 
A.  Hurt
B.  Helped
C.  Hurt






3.
A.  Current/+
B.  Financial/+
C. Current/-






4. 
A. Increase S USD
B.  Increase D MP
C.  Lower interest rates resulting from Janet's EMP decrease investor interest in US banks.  Those holding Dollars supply them to the currency market in exchange for Pesos.
D.  Mexico/imports, USA/exports
E.  Increase AD
F.  Increase PL








Back currency questions


1.  CD
2.  YEN
3.  SD
4.  ZD
5. CD
6.  EU
7. SD
8.  AA
9.  EE
10.  USA

Wednesday, April 5, 2017

Commanding Heights Film: Thrus. and Fri.

Hello students.  I hope you are coping with the pain of my absence.  Here is the link for the video for Thurs and Fri.  Watch as much as you can in each period.  Answer the questions on the appropriate side of the sheet each day.  Have a wonderful break!




Thursday:  Episode 1


Friday:  Episode 3


https://www.youtube.com/watch?v=DoWbm8zUG6Y&list=PLOr8q_slscQNLXPfvACwjADhh_uWJczxs

Monday, March 13, 2017

Monetary M/C Practice Answer Key

Feel free to e-mail me with any questions.  I will check my e mail on Monday night and  once or twice on Tuesday before 9pm "if" I don't see you tomorrow. 
1e
2b
3e
4a
5d
6a
7b
8d
9e
10d
11b
12d
13d
14b
15c
16b
17a
18a
19e
20d
21a
22b
23c
24a
25d
26d
27b
28b
29e
30b
31c
32e
33c
34e
35d
36a
37d
38e
39d
40b
41a
42c
43c
44b

Monday, February 13, 2017

Ch. 14 Reading Guide

Due Tues.
Ch. 14 is written in such a way that it can sometimes be more confusing than helpful.  Use the chapter as a reference to answer the questions, but you need not read the entire chapter.  Rely instead on your class notes and "Goldsmiths" story. 


1.  Why are banks required to hold reserves at all?
2.  Why do banks want to lend as much money as possible?
3.  Do you agree or disagree:  When cash is deposited in a bank, the money supply shrinks and interest rates rise.
4.  What is the money multiplier?  How is the money multiplier calculated?




Due Wed.
1.  Calculate the multiplier for reserve requirements of:  50%, 25%, 10%, 5%, 1%
2.  Describe the relationship between the RR and the MM.
3.  Describe the relationship between the RR and the Sm.
4.  On money market graphs, illustrate the impact of increases and decreases of the reserve requirement.
5.  How do changes in the reserve requirement impact interest rate?

Monday, January 30, 2017

Ch. 13 Reading Guide

Due Tues. 1/31
1.  Explain each of the 3 Functions of Money
2.  Explain each of the 4 Characteristics of Money.
3.  Contrast Fiat and Commodity Money
4.  Identify the forms of money classicied as M1, M2, and M3 by the US Treasury.




Due Wed. 2/1
Read this article on the gold standard:   https://blogs.cfainstitute.org/investor/2013/04/16/gold-and-international-reserve-currencies/


Identify arguments for and against a gold-backed currency.  Find another article you believe to be useful to understanding this subject, print it, and bring it to class.




Due. Wed. 2/2
Create a properly labeled graph of the Money Market.
Identify the 3 types of Money Demand
Identify factors shifting the Ms curve and Md curve









Tuesday, January 3, 2017

Ch. 12 Reading Guide

Due Wed. 1/4/17


1.  Describe expansionary fiscal policy.  When would it be used?  What tools would government use to enact such a policy?  Illustrate the impact of expansionary fiscal policy on an AS/AD diagram originating from a recessionary gap.






2.  Describe contractionary fiscal policy.  When would it be used?  What tools would government use to enact such a policy?  Illustrate the impact of contractionary fiscal policy on an AS/AD diagram originating from an inflationary gap.










Due Thus. 1/5/17


1.  Identify and define each of the automatic/autonomous fiscal policy stabilizers.  Explain how each stabilizer would act without the actions of Congress and the President to impact the economy during an:
a.  time of recession/high unemployment
b.  time of inflation