October 22, 2007

Unit 2 Exam

Posted in Basic Economic Concepts, elasticity, Price Ceilings, Price Floors, Supply & Demand at 4:36 pm by davidprudente

The Unit 2 exam on issues relating to supply and demand will be tomorrow (10/23). The exam will consist of Twenty-five multiple choice questions and one multi-part free response question. As I mentioned in class, you need to know what factors will shift the supply and demand curves; how to determine elasticity; and how a price ceiling and price floor effect markets.

Be sure you use your textbook, notes, Barron’s study guide, and the on-line resources available to you to prepare for the exam. Good luck.

October 16, 2007

Chapter 5 & 6 Homework Checks

Posted in Articles, Price Ceilings, Price Floors, Subsidies, Supply & Demand at 3:59 pm by davidprudente

The quiz for chapters 5 & 6 will be given the next time you are in class. There are 15 multiple choice questions (total).

For a little extra-credit, read this article and explain, using a properly labeled graph, if farm supports are a price ceiling or price floor. In addition, please summarize the author’s point of view in a couple of sentences. I’ll collect this on Thursday.

October 12, 2007

Chapter 6

Posted in Assignments, Price Ceilings, Price Floors at 3:55 pm by davidprudente

Your homework this weekend is to read chapter 6 and complete questions: 1, 2, and 4 and problem: 3.