How does ObamaCare affect you? Please take this poll

Taking America's pulse and heartbeat

Taking America’s pulse and heartbeat

Answers cannot be traced by me, by the way; answer accurately, with abandon.

Crossposted from Millard Fillmore’s Bathtub; answers given at this site are tallied on the same spreadsheet.

 

Nutting at MarketWatch: Fed has NOT discouraged saving, with Quantitative Easing

Fed can’t explain it, but, no, low interest rates appear not to have discouraged savings. Tea Party catastrophe mongers won’t change their claims, though, I’ll bet.

Do they even look at the facts?

Also: No, the Fed is not “flooding the nation with increased money supply.”

According to Rex Nutting at MarketWatch:

According to Rex Nutting at MarketWatch: “The Fed is not flooding the economy with money. The growth of the money supply has actually slowed since the adoption of QE3. Yes, the Fed has conjured about $1 trillion in the past year to buy super-safe Treasury and mortgage-backed bonds from the private sector in a bid to force investors to put their money into riskier investments that will help the economy grow a bit faster.

Nutting’s column at MarketWatch is worth the read just for the links he provides to documents that explain what the Fed does and how the economy works — documents that appear beyond the reading and perhaps beyond the ken of far too many critics of the Fed and actions we need to take to get to robust economy.

(Why, yes, Nutting is a veteran of the Daily Utah Chronicle and Utah’s journalism program. Why do you ask?)

This post is cross-posted, with express permission, from Millard Fillmore’s Bathtub.

Top 200 economics blogs, from Onalytica

Borrowing the entire post from Onalytica Blog, for student ease — the top 200 economics blogs.  Reading a smattering from the top 20 should offer some real-world assistance in understanding any high school economics course.

Read ‘em and reap benefits, as the saying goes.  What did you learn just browsing the list?

Logo for Onalytica Indexes

Logo for Onalytica Indexes

(With a wave of the old wire-cutters to Bruce Bartlett, whose own blog is #2 on this list.)

It’s been several months since we published our latest ranking of influential economic blogs. Below is an updated list of the top 200 economic blogs, ordered by their Onalytica Influence index.

An explanation of the methodology can be found in our previous post on influential economic blogs.

We report the same metrics as before: Onalytica Influence Index, Popularity and Over-Influence. Influence index is the impact factor of blogs, similar to the impact factor of academic journals; Popularity measures how well-known a blog is amongst other economic blogs and Over-Influence seeks to capture how influential a blog is compared to how popular it is.

There are quite a few new entries in the list as a results of our growing underlying corpus of economic blogs from which the most influential ones are calculated. Over time, we should expect to see a reduced number of economic blogs entering the top 200 for the first time.

We have recently added some very well-known and influential blogs such as Economix, FT Alphaville and Vox, causing most blogs to go down in ranking. Moreover, there were other shifts in the ranking generated by a change in the quantity and quality of citations that blogs have received. If a blog has gone up it means that it has been cited by more influential blogs and/or has received a higher number of citations since our last ranking.

Rank Change Website I P O-I
1. The Conscience of a Liberal 100.0 100.0 1.2
New Entry ★ 2. Economix 61.7 64.9 1.1
New Entry ★ 3. FT Alphaville 60.8 52.0 1.4
New Entry ★ 4. Vox 57.4 56.5 1.2
2 ↓ 5. Marginal Revolution 53.1 63.4 1.0
2 ↓ 6. Brad Delong 50.8 61.3 1.0
5 ↓ 7. Economist’s View 50.6 62.8 1.0
9 ↑ 8. Zero Hedge 49.0 57.7 1.0
2 ↓ 9. Naked Capitalism 40.4 48.0 1.0
4 ↓ 10. Econbrowser 36.2 42.0 1.0
11. The Big Picture 35.9 42.6 1.0
2 ↓ 12. EconLog 35.9 45.3 0.9
4 ↓ 13. The Money Illusion 30.2 48.0 0.7
9 ↓ 14. Greg Mankiw’s Blog 30.1 36.6 1.0
5 ↑ 15. Economic Policy Institute 28.7 35.7 0.9
3 ↓ 16. Calculated Risk 28.6 25.5 1.3
23 ↑ 17. Next New Deal 26.2 24.0 1.3
New Entry ★ 18. On the Economy 25.1 33.3 0.9
4 ↓ 19. Crooked Timber 24.5 26.4 1.1
6 ↓ 20. Freakonomics 23.4 32.4 0.8
9 ↓ 21. Worthwhile Canadian Initiative 23.3 32.1 0.8
New Entry ★ 22. Tax Policy Blog 22.3 12.3 2.1
1 ↑ 23. The Baseline Scenario 22.0 25.5 1.0
48 ↑ 24. Noahpinion 21.9 42.3 0.6
6 ↓ 25. Cafe Hayek 20.3 26.4 0.9
8 ↓ 26. Interfluidity 19.8 24.3 0.9
11 ↓ 27. Why Nations Fail 19.3 27.0 0.8
New Entry ★ 28. Mish’s Global Economic Trend Analysis 19.3 21.0 1.1
3 ↓ 29. Credit Writedowns 18.7 23.7 0.9
27 ↑ 30. Liberty Street Economics 18.0 21.9 1.0
8 ↓ 31. The Incidental Economist 17.7 22.8 0.9
New Entry ★ 32. LewRockwell.com 17.2 15.9 1.2
New Entry ★ 33. The Grumpy Economist 17.1 18.9 1.0
13 ↓ 34. Angry Bear 16.8 23.7 0.8
New Entry ★ 35. Macro and Other Market Musings 16.3 23.4 0.8
New Entry ★ 36. Not the Treasury View 16.0 17.1 1.1
16 ↑ 37. IMF Direct 15.7 19.5 0.9
New Entry ★ 38. Steve Keens’ Debtwatch 15.7 16.5 1.1
New Entry ★ 39. Stan Collender’s Capital Gains and Games 15.5 11.7 1.5
New Entry ★ 40. Bruegel 15.3 10.8 1.6
7 ↓ 41. The Policy Center 15.2 26.1 0.7
4 ↓ 42. Mainly Macro 15.2 8.4 2.0
New Entry ★ 43. Bill Mitchell – billy blog 14.8 16.5 1.0
16 ↓ 44. The Irish Economy 14.5 9.6 1.7
10 ↑ 45. New Economic Perspectives 14.4 17.1 1.0
New Entry ★ 46. off the charts 14.3 11.1 1.5
New Entry ★ 47. Eschaton 14.1 13.8 1.2
3 ↑ 48. Andrew Gelman 14.0 17.1 0.9
New Entry ★ 49. macroblog 13.9 15.9 1.0
New Entry ★ 50. Steven Landsburg 13.6 15.6 1.0
15 ↓ 51. Stumbling and Mumbling 13.4 20.1 0.8
27 ↓ 52. Overcoming Bias 13.4 21.0 0.7
New Entry ★ 53. Pragmatic Capitalism 13.3 18.9 0.8
7 ↓ 54. The Undercover Economist 13.1 12.3 1.2
New Entry ★ 55. Robert Reich 12.8 15.0 1.0
27 ↓ 56. The Becker-Posner Blog 12.7 9.6 1.5
13 ↓ 57. China Financial Markets 12.5 16.5 0.9
19 ↓ 58. Uneasy Money 11.8 17.1 0.8
New Entry ★ 59. Consider the Evidence 11.6 10.2 1.3
New Entry ★ 60. Bleeding Heart Libertarians 11.6 16.5 0.8
7 ↓ 61. Confessions of a Supply-Side Liberal 11.2 13.5 0.9
69 ↑ 62. Economics One 11.2 16.2 0.8
New Entry ★ 63. the nef blog 11.1 8.4 1.5
6 ↓ 64. The Volokh Conspiracy 11.0 14.7 0.9
30 ↓ 65. Dani Rodrik’s weblog 10.9 12.6 1.0
21 ↓ 66. Organizations and Markets 10.9 10.8 1.1
119 ↑ 67. Conversable Economist 10.5 8.7 1.3
New Entry ★ 68. Euro Intelligence 10.5 14.4 0.8
New Entry ★ 69. The Market Monetarist 10.4 12.6 0.9
40 ↓ 70. A Fistful of Euros 10.2 11.1 1.0
New Entry ★ 71. The Center of the Universe 10.1 9.9 1.2
39 ↓ 72. Keith Hennessey 10.0 8.4 1.3
New Entry ★ 73. Enlightenment Economics 9.9 6.9 1.6
52 ↑ 74. The Street Light 9.8 8.4 1.3
New Entry ★ 75. Robert P. Murphy’s Free Advice 9.5 10.8 1.0
New Entry ★ 76. MacroBusiness 9.4 10.8 1.0
68 ↑ 77. Econospeak 9.4 11.4 0.9
15 ↓ 78. TaxProf Blog 9.3 15.6 0.7
23 ↓ 79. Adam Smith Institute 9.1 16.2 0.6
21 ↓ 80. Donald Marron 9.0 6.9 1.4
New Entry ★ 81. Free Banking 9.0 14.1 0.7
17 ↓ 82. The Reformed Broker 8.9 12.3 0.8
46 ↓ 83. John Kay 8.8 12.9 0.8
New Entry ★ 84. Economic Policy Journal 8.8 10.8 0.9
54 ↓ 85. InfectiousGreed 8.7 9.6 1.0
New Entry ★ 86. Crossing Wall Street 8.7 7.8 1.2
41 ↓ 87. The Oil Drum 8.6 10.2 1.0
46 ↓ 88. Patrick Chovanec 8.5 6.0 1.5
New Entry ★ 89. Coordination Problem 8.4 15.0 0.6
New Entry ★ 90. Cheap Talk 8.3 11.7 0.8
New Entry ★ 91. Michael Hudson 8.3 10.5 0.9
40 ↓ 92. John Quiggin 8.1 11.1 0.8
New Entry ★ 93. Kids Prefer Cheese 8.0 11.1 0.8
New Entry ★ 94. The Market Ticker 8.0 12.9 0.7
New Entry ★ 95. Real-World Economics Review Blog 8.0 12.6 0.7
32 ↓ 96. Daniel W. Drezner 7.9 8.1 1.1
New Entry ★ 97. ToUChstone 7.8 8.7 1.0
20 ↓ 98. Historinhas 7.8 7.2 1.2
New Entry ★ 99. Facts and Other Stubborn Things 7.8 8.1 1.1
42 ↑ 100. Stephen Williamson: New Monetarist Economics 7.8 15.3 0.6
New Entry ★ 101. Credit Slips 7.8 6.3 1.3
New Entry ★ 102. The Bonddad Blog 7.7 11.7 0.8
New Entry ★ 103. The Economic Collapse 7.7 9.3 0.9
New Entry ★ 104. Corey Robin 7.7 11.4 0.8
New Entry ★ 105. Sober Look 7.6 8.4 1.0
56 ↓ 106. Environmental Economics 7.6 7.8 1.1
40 ↑ 107. Bronte Capital 7.6 7.8 1.1
New Entry ★ 108. George Monbiot 7.6 10.2 0.8
New Entry ★ 109. Max Keiser Financial War Reports 7.5 8.1 1.0
New Entry ★ 110. Club Troppo 7.4 13.8 0.6
New Entry ★ 111. Catallaxy Files 7.4 12.3 0.7
New Entry ★ 112. Coppola Comment 7.4 6.6 1.2
New Entry ★ 113. Of Two Minds 7.4 7.8 1.0
39 ↓ 114. ThinkMarkets 7.3 6.0 1.3
New Entry ★ 115. Tax Research UK 7.3 9.3 0.9
New Entry ★ 116. The Beacon Blog 7.3 9.9 0.8
New Entry ★ 117. Unlearning Economics 7.2 10.5 0.8
75 ↓ 118. A Dash of Insight 7.1 3.0 2.4
78 ↓ 119. Chris Blattman 7.0 10.5 0.8
New Entry ★ 120. The Aleph Blog 6.9 10.5 0.7
New Entry ★ 121. Evan Soltas 6.8 8.7 0.9
New Entry ★ 122. UDADISI 6.7 3.0 2.2
26 ↑ 123. The Slack Wire 6.7 5.7 1.3
New Entry ★ 124. Economics for public policy 6.7 9.0 0.8
41 ↑ 125. Supply and Demand (In That Order) 6.7 4.8 1.5
22 ↑ 126. NYU Development Research Insitute 6.6 4.2 1.7
2 ↑ 127. Ludwig von Mises Institute 6.6 9.0 0.8
New Entry ★ 128. OECD Insights 6.6 4.5 1.5
New Entry ★ 129. Mike Norman Economics 6.5 8.7 0.8
54 ↓ 130. The Economic Populist 6.5 8.7 0.8
New Entry ★ 131. MacroMania 6.4 8.7 0.8
65 ↓ 132. TripleCrisis 6.2 7.5 0.9
New Entry ★ 133. Economic Thought 6.2 9.0 0.8
New Entry ★ 134. Jesse’s Cafe Americain 6.2 11.7 0.6
New Entry ★ 135. Yanis Varoufakis 6.1 8.1 0.8
New Entry ★ 136. Political Calculations 6.1 9.6 0.7
New Entry ★ 137. Dan Ariely 6.1 6.0 1.1
New Entry ★ 138. Abnormal Returns 6.0 9.0 0.8
42 ↑ 139. Ideas 5.9 9.0 0.7
New Entry ★ 140. Monetary Freedom 5.9 8.4 0.8
New Entry ★ 141. azizonomics 5.9 6.9 0.9
76 ↓ 142. Tim Worstall 5.9 9.9 0.7
51 ↑ 143. Falkenblog 5.8 9.6 0.7
40 ↑ 144. Rajiv Sethi 5.7 7.5 0.8
76 ↓ 145. Coyote Blog 5.7 8.1 0.8
New Entry ★ 146. International Liberty 5.6 5.4 1.1
59 ↓ 147. CoRE Economics 5.5 7.8 0.8
68 ↓ 148. Knowledge Problem 5.4 8.4 0.7
New Entry ★ 149. I, Cringely 5.3 3.3 1.6
New Entry ★ 150. David Smith 5.3 8.1 0.7
New Entry ★ 151. Sanjeev Sabhlok’s Revolutionary Blog 5.3 6.0 1.0
91 ↓ 152. Division of Labour 5.3 2.7 1.9
New Entry ★ 153. Peter Martin 5.2 3.6 1.5
22 ↓ 154. Neighborhood Effects 5.2 5.1 1.1
New Entry ★ 155. The Epicurean Dealmaker 5.1 7.5 0.8
88 ↓ 156. Economists Do it With Models 5.0 6.3 0.9
New Entry ★ 157. Dr. Ed’s Blog 5.0 5.7 0.9
85 ↓ 158. Growthology 4.9 4.2 1.2
99 ↓ 159. Multiplier Effect 4.9 6.6 0.8
66 ↓ 160. Economics Intelligence 4.9 6.0 0.9
69 ↓ 161. The Capital Spectator 4.9 6.6 0.8
New Entry ★ 162. Offsetting Behaviour 4.8 8.1 0.7
New Entry ★ 163. Antonio Fatas and Ilian Mihov on the Global Economy 4.8 5.4 1.0
New Entry ★ 164. Tom Woods 4.8 6.0 0.9
New Entry ★ 165. owenzidar 4.6 3.6 1.3
10 ↓ 166. Market Design 4.6 5.1 1.0
New Entry ★ 167. Economics of Contempt 4.6 6.9 0.7
New Entry ★ 168. Balance 4.5 2.7 1.6
New Entry ★ 169. Jim Sinclair’s MineSet 4.5 5.1 1.0
26 ↓ 170. Environmental and Urban Economics 4.4 4.5 1.0
New Entry ★ 171. An Economic View of the Environment 4.4 1.8 2.2
New Entry ★ 172. Tax Justice Network 4.4 4.5 1.0
New Entry ★ 173. Mandel on Innovation and Growth 4.4 4.5 1.0
New Entry ★ 174. The Sports Economist 4.4 4.5 1.0
New Entry ★ 175. mathbabe 4.3 6.0 0.8
New Entry ★ 176. Financial Armageddon 4.3 6.6 0.7
107 ↓ 177. Brett Keller 4.3 1.2 2.9
New Entry ★ 178. Social Democracy for the 21st Century: a Post Keynesian Perspective 4.2 8.7 0.5
New Entry ★ 179. Robert Skidelsky 4.2 4.2 1.0
63 ↓ 180. Truth on the Market 4.1 5.4 0.8
81 ↓ 181. Economic Logic 4.1 4.5 1.0
New Entry ★ 182. Moneyness 4.0 6.0 0.7
New Entry ★ 183. Sparse Thoughts of a Gloomy Eurpoean Economist 4.0 3.3 1.2
New Entry ★ 184. Rick Bookstaber 4.0 4.8 0.9
96 ↓ 185. Alpha.Sources.CV 3.9 4.8 0.9
85 ↓ 186. Karl Whelan 3.9 2.4 1.6
17 ↓ 187. Macro Man 3.9 8.4 0.5
New Entry ★ 188. Robert’s Stochastic Thoughts 3.9 2.4 1.5
16 ↓ 189. History Squared 3.9 3.6 1.1
128 ↓ 190. Taking Hayek Seriously 3.8 6.9 0.6
66 ↓ 191. Ralphonomics 3.8 8.4 0.5
New Entry ★ 192. Naked Keynesianism 3.8 8.1 0.5
New Entry ★ 193. International Political Economy at the University of North Carolina 3.8 4.2 0.9
New Entry ★ 194. Middle Class Political Economist 3.7 4.2 0.9
New Entry ★ 195. Ed Dolan’s Econ Blog 3.7 4.2 0.9
111 ↓ 196. Roubini Global Economics 3.7 3.9 1.0
118 ↓ 197. Club for growth 3.7 5.7 0.7
New Entry ★ 198. Adam Smith’s Lost Legacy 3.7 7.2 0.6
New Entry ★ 199. Greed, Green & Grains 3.7 2.1 1.6
New Entry ★ 200. Cassandra Does Tokyo 3.7 5.7 0.7

More:

Current economics: Robert C. Lieberman, “Why the Rich Are Getting Richer: American Politics and the Second Gilded Age”

What? You missed this, on February 20, 2011? Well, here it is again. Please pay attention this time.

The U.S. economy appears to be coming apart at the seams. Unemployment remains at nearly ten percent, the highest level in almost 30 years; foreclosures have forced millions of Americans out of their homes; and real incomes have fallen faster and further than at any time since the Great Depression. Many of those laid off fear that the jobs they have lost — the secure, often unionized, industrial jobs that provided wealth, security and opportunity — will never return. They are probably right.

Cover of Winner-Take-All Politics, by Jacob Hacker and Paul Pierson

Cover of Winner-Take-All Politics, by Jacob Hacker and Paul Pierson

And yet a curious thing has happened in the midst of all this misery. The wealthiest Americans, among them presumably the very titans of global finance whose misadventures brought about the financial meltdown, got richer. And not just a little bit richer; a lot richer. In 2009, the average income of the top five percent of earners went up, while on average everyone else’s income went down. This was not an anomaly but rather a continuation of a 40-year trend of ballooning incomes at the very top and stagnant incomes in the middle and at the bottom. The share of total income going to the top one percent has increased from roughly eight percent in the 1960s to more than 20 percent today.

This what the political scientists Jacob Hacker and Paul Pierson call the “winner-take-all economy.” It is not a picture of a healthy society. Such a level of economic inequality, not seen in the United States since the eve of the Great Depression, bespeaks a political economy in which the financial rewards are increasingly concentrated among a tiny elite and whose risks are borne by an increasingly exposed and unprotected middle class. Income inequality in the United States is higher than in any other advanced democracy and by conventional measures comparable to that in countries such as Ghana, Nicaragua, and Turkmenistan.

Robert C. Lieberman, reviewing the book Winner-Take-All Politics: How Washington Made the Rich Richer — and Turned Its Back on the Middle Class, by Jacob S. Hacker and Paul Pierson, Simon and Schuster, 2010, 368 pages. $27.00.; review appears in Foreign Affairs, January/February 2011, pp. 154-158.

More:

Two years later, even more:

This post is borrowed, with express permission, from Millard Fillmore’s Bathtub.

Black Friday economics

Every economics teacher knows that old Leonard Read piece, “I, Pencil.” It’s a good, practical demonstration of the concept of Adam Smith’sinvisible hand,” free markets, and the way economies put stuff together for sale without a government agency issuing instructions, written by Read in 1958, for the Foundation for Economic Education, a once-free-market economic think tank that recently made an unexpected (by me) lurch to the radical right.

English: A standard number 2 pencil, unsharpen...

A standard number 2 pencil, unsharpened. Made by Sanford. (Photo credit: Wikipedia)

The essay is dated, though, for high school kids today. Most of the stuff Read properly assumed people knew something about, is left out of modern curricula in elementary and middle school, so a high school teacher must do remedial work in mining, international trade, lumbering, manufacturing, chemistry and metallurgy, just to make the thing make sense. Where we used to learn about pencils in first or second grade, my students in recent years labor under the misconception that pencil leads are made out of lead, and I have to explain to them that graphite is a form of carbon. They don’t know cedar from pine, or mahogany, they don’t know copper from tin from zinc from steel, and they think rubber has always been synthetic.

Imagine my surprise on this: I got an e-mail touting an animated, YouTube update of Read’s essay. It’s not bad, even though it’s from the Competitive Enterprise Institute, which is neither competitive, nor an institute, but is instead a propaganda arm of crazy right-wing wackoes.

Whoever made this film appears not to have had much interference from the CEI poobahs.

Am I missing something? Is this film more right-wing than I see?

I worry that I missed something, or that the producers of this movie wove a spell over the usual radical near-fascist groups. This movie has been touted in recent days by almost all of the usual crypto-black-shirt think puddles, American Enterprise Institute, the unreasoning Reason magazine from the so-called libertarian view, the cartoonish Glen Beck effluent pipe The Blaze, the Coors family’s Heritage Foundation, the offensively-named Lexicans, the biased Cafe Hayek (which is often a good read anyway, so long as you don’t take them seriously on any science issue), the sanctuary for authoritarian-leaning victims of lobotomy Hot Air, and even that publication from the propaganda organization, The Daily Capitalist — in short, it’s been plugged by organizations covering the entire political spectrum from Y to Z, the far right end of the alphabet.

Maybe they didn’t watch it?

For today’s teenagers, someone should do a couple of updates. “I, SmartPhone” and “I, Tablet Computer” could include lessons in government regulation of radio spectrum and how such regulation allows public safety functions and air traffic control to exist alongside great profit-seeking groups, and how such developments would be impossible without government regulation. There would also be a section on the mining and milling of rare Earths, of ores like Coltan, which would introduce the concept of blood or conflict diamonds and ores, the collapse of order in unregulated areas like Congo and Somalia, slave labor as in Pakistan and China. “I, Fast Food Breakfast” could include side lessons in importing of orange juice from Brazil and other nations, artificially-flavored syrups from China and the threat from climate change to U.S. maple tree farmers, and meat from Australia and Argentina, along with the ideas of food safety regulation on eggs and egg products by USDA and FDA. “I, Burrito” could include lessons in cultural diffusion and migrant farm workers who pick the tomatoes . . .

Colored_pencil

Colored pencils (Photo credit: Wikipedia)

By the way, the fact that pencil leads are graphite (and clay), and not lead, should not be taken to mean that pencil manufacturers came up with a kid-safe product on their own; lead in the paint on pencils was enough to worry the health officials, until regulation got different paints used.

We need a classroom guide on Read’s piece and this new movie that seriously discusses the need for regulation in pencil manufacture, from the safety of the saws used to cut the trees, and in the mills, to the anti-child labor provisions of the graphite and rubber import agreements, to the forest regulation and research necessary to keep the incense cedar wood in production, through the anti-deforestation requirements on rubber plantations and the regulation of lead in the paint. The movie is good, much less right-wing than those groups who fawn over it, but still in need of some real-world economic reality.

More:

Review for a last test . . .

A few of you were off doing what seniors do in the last month of high school, Thursday, when we passed out the review for the test.

So, here’s what was on the study guide, for your studying pleasure.

Questions on anything?  Ask them in comments, and I’ll get the quickest notice.

Be ready to answer these questions; also be prepared to tell which of your stocks performed best, name the company, name the stock symbol, and tell what the company does.

  1. The basic problem of scarcity is due to what?
  2. There Is No Such Thing As A Free Lunch – TINSTAAFL
  3. What are the basic goals of the American Economy?
  4. What is the basic economic problem facing all societies?
  5. What are the four major Factors of Production?
  6. Describe major characteristics of the American free enterprise system?
  7. Know the key characteristics of these economies:
    1. Market economy
    2. Traditional economy
    3. Command economy
    4. Communist economy
    5. Socialist economy
    6. Manorialism
  8. What is a resource market?
  9. All economic systems face scarcity.  Why?
  10. What is the most important role played by profit in a free enterprise system?
  11. What is a capital good?  How do capital goods differ from other goods?  How do capital goods differ from capital?
  12. What is a tradeoff?
  13. When the demand curve for a good shifts to the right, what happens to the price?
  14. What is an opportunity cost?  How does it differ from a simple tradeoff?
  15. What happens to the price of a crop if a freeze wipes out a lot of the harvest?
  16. What happens at the equilibrium point on the supply and demand graph?  How is that point defined or determined?
  17. Non-price determinants (factors) of demand cause the demand curve to shift.  What is a non-price determinant of demand?  Give an example
  18. What are major parts of a company balance sheet?
  19. What are the  advantages of a sole proprietorship form of business?
  20. How do stockholders make money from stocks?
  21. What is a stock, and how do we usually describe stockholders?
  22. What causes increases in the price of gasoline in America?
  23. In a free market economy, profit plays a special role.  What is that role?

    Official portrait of Federal Reserve Chairman ...

    Official portrait of Federal Reserve Chairman Ben Bernanke. (Photo credit: Wikipedia)

  24. Who is Ben Bernanke?  Describe the important roles of Ben Bernanke and the Federal Reserve play in the U.S. economy.
  25. What is a monopoly?  What are the signs of a monopoly in the marketplace?
  26. What is a stock certificate?
  27. What is “product differentiation?”  Why is it important in economics?
  28. What is the purpose of anti-trust legislation?
  29. FICA taxes pay for two major kinds of insurance; what are they?  What is FICA more commonly known as?
  30. How is GDP determined?  What does it measure?
  31. During which part of the business cycle is the Gross Domestic Product the lowest?
  32. What are the parts of the business cycle?
  33. If there is a deficit in the federal budget, what would help to balance the budget?
  34. What is the law of supply?  What does it say?
  35. What is the law of demand?  What does it say?
  36. How are the laws of supply and demand related?
  37. What are the differences between
    1. A command economy
    2. A market economy
    3. A traditional economy
  38. Give examples of each of the preceding kinds of economies.
  39. Give an example of a capital good?
    US Whig poster showing unemployment in 1837

    US Whig poster showing unemployment in 1837 (Photo credit: Wikipedia)

     

  40. What are the different types of unemployment?  Know how to recognize:
    1. Frictional unemployment
    2. Technological unemployment
    3. Other kinds of unemployment
  41. Can someone have a job and still be considered unemployed?
  42. What is the purpose of the FDIC (Federal Deposit Insurance Corp)?  When did Congress create FDIC?  What are the limits of FDIC?
  43. What are the advantages of doing business as a corporation, especially with regard to liability?
  44. The production possibilities curve is a model used by economists to illustrate what?
  45. Know these dead economists, and what they are famous for:
    1. Karl Marx
    2. Adam Smith
    3. John Maynard Keynes
    4. David Ricardo
    5. Thomas Malthus
    6. Milton Friedman
    7. Alan Greenspan
    8. Benjamin Bernanke
  46. What does NAFTA stand for – and what is it?
  47. Who wrote:
    1. Wealth of Nations
    2. Das Kapital (Capital, in English)
    3. Free to Choose

PPC: What happens to the Production Possibilities Frontier when resources change?

If you’re viewing this, you must be viewing out of Dallas ISD’s system.  Good for you.

Does this explain the Production Possibilities Frontier, and the curve, more plainly?  Tell what you think in comments.

(This is video #10 in the series from “mjmfoodie”)

Parent report card night tonight, April 30, 2012

Report card with A+s, graphic

Regardless your grades, come visit!

Especially if you did not get a report card (because you failed a class, for example), the school will be open from 4:00 p.m. to 8:00 p.m. on Monday, April 30, for parents to pick up student report cards and discuss academic performance with counselors.

There is just a tiny handful of students in my classes who will need to boost scores in the last six weeks to be certain to pass the semester, but I’m happy to see parents almost any time. I may not be able to stay for the entire evening, but please check in if you’re here. Bonus points for students whose parents check in, as always.

I’ll be in room 217.