tag:blogger.com,1999:blog-4528113512679680642024-03-13T15:34:38.596-07:00NickECampbellEconNickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.comBlogger25125tag:blogger.com,1999:blog-452811351267968064.post-52011688865805609042011-01-24T06:31:00.000-08:002011-01-24T06:31:23.510-08:00Post 25 (B) - Find the Gini Indexes for the nations of the world and react to what that says about America.After looking at the Gini Index on various websites it seems to show that the Unites States hovers around 45 on a scale of 0 to 100. I think this is safe to say since many citizens want to believe that our country is equal, this should go for the sharing of wealth as well. We are not a country run by strict groups where all of our money goes to the government, like many African countries. Then again we are not like many European countries where wealth is sent to the lower levels. America is a little below the middle, giving a little more wealth to the less wealthy but still evenly balanced.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-9309077182105757012011-01-21T06:49:00.000-08:002011-01-24T06:23:04.043-08:00Post 25 (A) - Find one group of Americans that would love inflation and explain why.A group of Americans that would love inflation would be debtors. Anyone in severe debt would love inflation since each dollar that they pay back would not be worth as much. Since the dollar amount is worth less the amount they are paying back is less than the amount they would pay without inflation. For example, inflation would help people with big car payments, people who have a mortgage, or even students paying back loans.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-31394433470958412712011-01-21T06:45:00.000-08:002011-01-21T06:45:19.385-08:00Post 24 - Create 4 scenarios for your life to describe the 4 types of unemployment. (future you)1. <strong><u>Sturctural Unemployment</u></strong> - Since Wawa created a new machine that makes hoagies with a machine, they no longer needed me to make them, so I was put out of work due to structural unemployment.<br />
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2. <strong><u>Seasonal Unemployment </u></strong>- After working on a christmas tree farm, I was laid off since nobody has interest in buying a christmas tree after christmas.<br />
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3. <strong><u>Frictional Umeployment</u></strong> - While working at wawa, I plan to move to Delaware during the period of time before I start my new job at my new home would be considered frictional unemployment.<br />
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4. <strong><u>Cyclinical Unemployment</u></strong> - With the economic down turn less people had the money to come into wawa to buy over priced sandwiches in order to balance this problem, wawa needed to cut employees, me included.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-69315444476026486622011-01-19T14:00:00.000-08:002011-01-19T14:00:40.024-08:00Post 18 - Twitter Man!Dear Jerry,<br />
<br />
I would like to take the time to thank you for the site you have created that allows students like myself to have a short cut to more sites. This helps out a large handful of us, whether we realize it or not, to find websites that can help us better understand what we are learning in class, or experiencing in the real world. I do take alot away from my classes in school but the few things that are left in the shadows are brought to like with the information that can be found on your site. The site doesnt just give a few choices, but rather a large number that gives students the oppurtunity to search for something that best suites them. Although I have only used your site for my economics class, Im sure it could help me in the future with other classes as well. Keep up the good work.<br />
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Thanks again -NickNickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-78740441605214585432011-01-19T06:36:00.001-08:002011-01-21T06:17:45.284-08:00Post 23 - Please make a western style wanted dead or alive post for one of these criminals.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9y4S0p-CDn7SX9puE_feihoGLUy_bQjaxrxHk7XM3GWsIvWztZ2YFdFmBOWoRCqslkFBnegBDWw6LJkwfA_bg1Q8HqsligY4K4N9X-Lw-ZS_BR41TTbneW5y1qi45AKt_4G1KEyiQdOg/s1600/ECONNNNNNNNNN.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="195" s5="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9y4S0p-CDn7SX9puE_feihoGLUy_bQjaxrxHk7XM3GWsIvWztZ2YFdFmBOWoRCqslkFBnegBDWw6LJkwfA_bg1Q8HqsligY4K4N9X-Lw-ZS_BR41TTbneW5y1qi45AKt_4G1KEyiQdOg/s320/ECONNNNNNNNNN.png" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;"><br />
</div>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-70237871909117622812011-01-19T06:30:00.000-08:002011-01-19T06:30:01.498-08:00Post 22 - Make a list of 15 new facts you learned (5 from each quiz).1. Unemployment can be branched out into multiple types.<br />
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2. Unemployment is the most publicised statistic.<br />
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3. Full employment only accounts for 95 percent<br />
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4. Population Study is run by Census <span style="background-color: white;">Bureau</span><br />
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5. Inflation is an increase in the average price of products<br />
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6. Deflation is the opposite of inflation by decreasing the average price of goods<br />
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7. a "Shock" increases the price of products for many or all firms<br />
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8. Price index is used to measure price levels<br />
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9. Price index also calculates inflation rates<br />
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10. The worst degree of inflation is called "hyperinflation"<br />
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11. If the value of the dollar decreases, the people who suffer most are those on fixed income<br />
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12. Higher Rates = Less Spending<br />
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13. Poverty threshold is the lowest income level needed for basic living<br />
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14. Poverty thresholds are based of the price index<br />
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15. Increases in technology = decrease in lower-skilled workersNickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-81682690884448893332011-01-13T06:46:00.000-08:002011-01-18T07:29:43.229-08:00Post 21 - Use the terms on: Page 235 Q1; Page 240 Q1 and Page 246 Q1 and make a terms list for this unit.<span style="font-size: x-small;"><span style="color: lime;"><span style="font-family: inherit;"><u><strong>National Income Accounting</strong></u>- Process used for tracking production, income, and consumption in a nations economy</span><br />
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<span style="font-family: inherit;"><strong><u>Gross Domestic Product</u></strong>- Total value of all final goods and services produced within a country in a given year</span><br />
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<span style="font-family: inherit;"><strong><u>Output Expenditure Model</u></strong>- A method of computing the GDP by adding the total value of consumer and government spending</span><br />
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<span style="font-family: inherit;"><strong><u>Personal Consumption Expenditure</u></strong>- Total spending by consumers for durable goods, nondurable goods, and services during a specified period of time</span><br />
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<span style="font-family: inherit;"><strong><u>Gross Investment</u></strong>- Total value of private spending in the economy for capital assets</span><br />
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<span style="font-family: inherit;"><strong><u>Nominal GDP</u></strong>- The value of a nations GDP at the current prices of the period being measured </span><br />
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<span style="font-family: inherit;"><strong><u>Real GDP</u></strong>- The value of a nations GDP after it has been adjusted for inflation</span><br />
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<span style="font-family: inherit;"><strong><u>Price Index</u></strong>- A set of statistics that allows economists to compare prices over time</span><br />
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<span style="font-family: inherit;"><strong><u>Underground Economy</u></strong>- Illegal economic activities or unreported legal activities that are not accounted for in national income measures</span><br />
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<span style="font-family: inherit;"><strong><u>Gross National Product</u></strong>- Total value of all final goods and services produced with factors of production owned by citizens of a different country</span><br />
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<span style="font-family: inherit;"><strong><u>Business Cycle</u></strong>- A recurring pattern in economic activity that is characterized by alternating periods of expansion and contraction</span><br />
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<span style="font-family: inherit;"><strong><u>Expansion</u></strong>- A period of the business cycle during which economic activity is increasing toward a peak</span><br />
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<span style="font-family: inherit;"><strong><u>Peak</u></strong>-The point of the business cycle during which employment production and wages are at their highest</span><br />
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<span style="font-family: inherit;"><strong><u>Contraction</u></strong>- A period in the business cycle during which business activity slows down and overall economic indicators decline</span><br />
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<span style="font-family: inherit;"><strong><u>Recession</u></strong>- Substantial and general decline in over all business activity over a signifigant period of time</span><br />
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<span style="font-family: inherit;"><strong><u>Depression</u></strong>- A prolonged and severe recession</span><br />
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<span style="font-family: inherit;"><strong><u>Trough</u></strong>-The lowest point of the business cycle</span><br />
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<span style="font-family: inherit;"><strong><u>Leading Indicators</u></strong>- Set of economic factors that anticipate the expansions and contractions of the business cycle from one month up to two years before similar changes in overall economic activity occur</span><br />
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<span style="font-family: inherit;"><strong><u>Coincident Indicators</u></strong>- Set of economic factors that move up or down with the economy</span><br />
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<span style="font-family: inherit;"><strong><u>Lagging Indicators</u></strong>- Set of economic factors that help economicts predict the duration of economic up or downturns</span><br />
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<span style="font-family: inherit;"><strong><u>Real GDP Per Capita</u></strong>-The dollar value adjusted for inflation of all final goods and services produced per person in an economy in a given year</span><br />
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<span style="font-family: inherit;"><strong><u>Labor Productivity</u></strong>- Measure of how much each worker produces in a given period of time</span><br />
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<span style="font-family: inherit;"><strong><u>Productivity Growth</u></strong>- Increase in output per worker per hour worked</span><br />
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<span style="font-family: inherit;"><strong><u>Capitol-to-labor ratio</u></strong>- Amount of capital resources available per worker</span><br />
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<span style="font-family: inherit;"><strong><u>Capital Deepening</u></strong>- The increasing of capital resources at a faster rate than the increasing of the labor force</span></span></span>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-58076319023401691522011-01-11T06:48:00.000-08:002011-01-13T06:20:26.128-08:00Post 19 - Design (ppt or other visual) a GDP thermometer/tape measure or some other measuring device that explains and defines the 4 parts of the GDP and the 3 rules for calculating it. The device should include a warning label that identifies the weaknesses of GDP.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLb790IEnC9hiOIQbS2MnN1HOMIeLfBV_AgARaWJLfM_HiQAU3oYI95ONYeNgIkj3k6zSEdyW4rBEAhpBWgEiEFQaEpZ7UYVTEQ-A7cMj_UEsagCXmXd9suk70mS4BIi9zOUasyLx_Xhc/s1600/UFC+ECONNN.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="251" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjLb790IEnC9hiOIQbS2MnN1HOMIeLfBV_AgARaWJLfM_HiQAU3oYI95ONYeNgIkj3k6zSEdyW4rBEAhpBWgEiEFQaEpZ7UYVTEQ-A7cMj_UEsagCXmXd9suk70mS4BIi9zOUasyLx_Xhc/s320/UFC+ECONNN.png" width="320" /></a></div>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-62791394141672862282011-01-05T06:29:00.000-08:002011-01-05T06:34:10.549-08:00Post 17 - Last Post for Macro Economics<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwtSsC5_kIDbc7M0huv9628Qvw9vW9R0GIghmOOAxk6ngG2JpoKzi9-B26uWqv7uTZ0KJG_P71u4eWug8km8sefWnbtRBq2WKH0JpPBCTbdFhMNwEDx24tHMI6kLXEbT9tBluW23BOv1E/s1600/Business+1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="241" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwtSsC5_kIDbc7M0huv9628Qvw9vW9R0GIghmOOAxk6ngG2JpoKzi9-B26uWqv7uTZ0KJG_P71u4eWug8km8sefWnbtRBq2WKH0JpPBCTbdFhMNwEDx24tHMI6kLXEbT9tBluW23BOv1E/s320/Business+1.jpg" width="320" /></a></div>Strength: Consistent, always has a peak, recovers after recession<br />
Weakness: recession always follows a peak<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWg6cX95tx3vHgQ6LbKLWzkzb-ela35Q9p0OERjqBaaRACEA5C16gVFiClvlW_zMe8TKkuoDaIXWMCU1d7drfQM4YqtqxV8U1w0H5wiz09WBVAfHRd-hhyfUkH-4cTjQTA8fPcGyB8PMU/s1600/Business+2.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="210" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWg6cX95tx3vHgQ6LbKLWzkzb-ela35Q9p0OERjqBaaRACEA5C16gVFiClvlW_zMe8TKkuoDaIXWMCU1d7drfQM4YqtqxV8U1w0H5wiz09WBVAfHRd-hhyfUkH-4cTjQTA8fPcGyB8PMU/s320/Business+2.png" width="320" /></a></div><br />
Strength: Allows room for expansion<br />
Weakness: very steap recession, long while to expand<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCEu09tD0O8fqpXNzDrJOYZK2Ehq3waiVhsNf84kKV0E3fxGXNGxEX555BB1RjiXH8mmrivfVag6pdU3RG3c4W6AZWyALaIjBN_pLj6yVmMwtkPBEKXFWYl0c9P9AKy2xGXj8x4_C294U/s1600/Business+3.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="179" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCEu09tD0O8fqpXNzDrJOYZK2Ehq3waiVhsNf84kKV0E3fxGXNGxEX555BB1RjiXH8mmrivfVag6pdU3RG3c4W6AZWyALaIjBN_pLj6yVmMwtkPBEKXFWYl0c9P9AKy2xGXj8x4_C294U/s320/Business+3.jpg" width="320" /></a></div>Strength: Predictable, similar to other graphs, Peaks and troughs equal<br />
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<strong><u>BEST BUSINESS CYCLE: GRAPH #3</u></strong><br />
Graph 3 represents the best business cycle to me based off the fact that everything is equal. The trough in an economy is no more or no less than that of its peak. Being able to keep an economy in such window would allow the economy to remain more stable. It is alot easier to deal with what you know is coming, rather than gambling on the future.<br />
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</div>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-41863793317503959312011-01-04T06:32:00.000-08:002011-01-04T06:32:25.067-08:00Post 16 - Create any visual that you think may be helpful on the Chapter 10 test! Be Creative<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjevNbujLMXMHiprtOnXH0Cu_MhYgfH9_ZIVctCLS24uV4eCAtyQUOmLiert3XyqnBbuc0E-FXQnDj1tBQkWcYCa7_rV8jG2KSzdd3f99bIHZRvlgB9YaV6Xh3oQ1Rqh6SFfZIH9LAXawE/s1600/Picture1.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="253" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjevNbujLMXMHiprtOnXH0Cu_MhYgfH9_ZIVctCLS24uV4eCAtyQUOmLiert3XyqnBbuc0E-FXQnDj1tBQkWcYCa7_rV8jG2KSzdd3f99bIHZRvlgB9YaV6Xh3oQ1Rqh6SFfZIH9LAXawE/s320/Picture1.png" width="320" /></a></div>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-1682982454571082592011-01-03T06:23:00.000-08:002011-01-03T06:37:12.102-08:00Post 15 - Find and react to a list of leading/coincident/lagging indicators. Pick the top 3 in each category.<a href="http://www.investopedia.com/terms/l/leadingindicator.asp"><span style="color: white;">Leading</span></a><span style="color: white;"> - These types of indicators signal future events. Think of how the amber traffic light indicates the coming of the red light. In the world of finance, leading indicators work the same way but are less accurate than the street light. Bond yields are thought to be a good leading indicator of the stock market because bond traders anticipate and speculate trends in the economy (even though they aren't always right). </span><a href="http://www.investopedia.com/terms/l/laggingindicator.asp"><span style="color: white;">Lagging</span></a><span style="color: white;"> - A lagging indicator is one that follows an event. Back to our traffic light example: the amber light is a lagging indicator for the green light because amber trails green. The importance of a lagging indicator is its ability to confirm that a pattern is occurring or about to occur. Unemployment is one of the most popular lagging indicators. If the unemployment rate is rising, it indicates that the economy has been doing poorly. </span><a href="http://www.investopedia.com/terms/c/coincidentindicator.asp"><span style="color: white;">Coincident</span></a><span style="color: white;"> - These indicators occur at approximately the same time as the conditions they signify. In our traffic light example, the green light would be a coincidental indicator of the associated pedestrian walk signal. Rather than predicting future events, these types of indicators change at the same time as the economy or stock market. Personal income is a coincidental indicator for the economy: high personal income rates will coincide with a strong economy. </span><br />
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</span><br />
<span style="color: white;">Top Indicators:</span><br />
<span style="color: white;">-Leading: Stock Market declining</span><br />
<span style="color: white;">-Lagging: Unemployment Rate</span><br />
<span style="color: white;">-Coincident: Gross Domestic Product</span>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-54388837548779498902010-12-22T06:29:00.003-08:002011-01-05T06:14:05.849-08:00Post 14 - Reaction to a youtube video – “My Humps” and the Business Cycle Rap Then watch this Qwiki Find a link to a better video or website for Business cycles. Was the video helpful or silly? Which source was more useful why?The video "My humps" was a bad idea at first. I think we were more focused on a bunch of high school kids making a bad rap at first. But after we started to listen to the lyrics we could see that the students knew what they were talking about. After we got past the looks and actually listened the video was pretty helpful.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-17129734453840777902010-12-22T06:29:00.001-08:002011-01-03T06:45:01.485-08:00Post 13 - Practice quizzes! Explain the 10 things you learned or things that got "cleared up for you"<span style="color: white;">1. Economists track things using "National Income Accounting"</span><br />
<span style="color: white;">2. To calculate GDP economists use output-expenditure model</span><br />
<span style="color: white;">3. Indirect Taxes are included in final tax price</span><br />
<span style="color: white;">4. There is a seperate economy called the underground economy</span><br />
<span style="color: white;">5. A business cycle is just a market fluctuation</span><br />
<span style="color: white;">6. The great depression was the most severe contraction in the American Economy</span><br />
<span style="color: white;">7. War is considered an external factor</span><br />
<span style="color: white;">8. Economic Growth is essential to prosperity</span><br />
<span style="color: white;">9. US does not have to import lumber or coal, only oil</span><br />
<span style="color: white;">10. American productivity growth has slowed down since the 60's</span>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-41256256249030610172010-12-20T06:38:00.003-08:002011-01-03T06:34:11.538-08:00Post 12 - write a letter to the editor why the GDP is a faulty indicator – suggest other indicators (GNP, NNP etc)To whom it may concern:<br />
<br />
After researching the Gross Domestic Product, it seems that a few problems have come up. It seems that some certain areas used to calculate the GDP are not safe, or correct. Things such as divorce, natural disasters, and crime are all counted as economic gain? I dont believe this is a morally right way to calculate the GDP. Not only does the GDP promote these things but it also ignores the non-market economy of household and community. I believe if there was some way to switch these situations than we would be much better off.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-47040795721039308962010-12-20T06:38:00.001-08:002010-12-22T06:27:12.186-08:00Post 11 - Using the 4x3technique. 3 rules and 4 ingredients create a recipe or math formula that explains how GDP is calculated!<div style="text-align: center;"><span style="color: lime;">Equation:</span></div><div style="text-align: center;"><span style="color: lime;">GDP = </span><a href="http://en.wikipedia.org/wiki/Consumption_(economics)" title="Consumption (economics)"><span style="color: lime;">private consumption</span></a><span style="color: lime;"> + </span><a href="http://en.wikipedia.org/wiki/Gross_private_domestic_investment" title="Gross private domestic investment"><span style="color: lime;">gross investment</span></a><span style="color: lime;"> + </span><a href="http://en.wikipedia.org/wiki/Government_spending" title="Government spending"><span style="color: lime;">government spending</span></a><span style="color: lime;"> + (</span><a href="http://en.wikipedia.org/wiki/Export" title="Export"><span style="color: lime;">exports</span></a><span style="color: lime;"> − </span><a href="http://en.wikipedia.org/wiki/Import" title="Import"><span style="color: lime;">imports</span></a><span style="color: lime;">)</span></div><div style="text-align: center;"><span style="color: lime;"><br />
</span></div><div style="text-align: left;"><span style="color: lime;">RULES:</span></div><div style="text-align: left;"><span style="color: lime;"><br />
</span></div><div style="text-align: left;"><span style="color: lime;"><strong>Wealth distribution</strong>–GDP does not take disparity in incomes between the rich and poor into account.</span></div><div style="text-align: left;"><br />
</div><div style="text-align: left;"><br />
</div>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-73695691722278367522010-12-20T06:37:00.001-08:002010-12-22T06:24:54.796-08:00Post 10 - React to reading: What do you think macroeconomics will be all about? What interests you about this topic? List three things you hope to learn!Ive learned prior that macroeconomics has to do with business on a larger scale, much like how microeconomics has to do with business on a smaller scale. I think we will take a look at big business in the United States, as well as across the world. I hope to learn about some of these specific businesses, and how they function. I would also like to find out if they had started on a smaller scale than expanded. A neat thing would be to see how other nations economic well being is handled, I would like to know if they are similar to that of the United States, or completely different.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-16820637269412924042010-12-20T06:36:00.001-08:002011-01-05T06:20:03.122-08:00Post 9 - Tween Tribune 100 word essay<span style="font-family: 'Times New Roman','serif'; font-size: 12pt; line-height: 115%; mso-ansi-language: EN-US; mso-bidi-language: AR-SA; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-fareast-theme-font: minor-latin;">Technology has helped us in our lives in many ways. We now are able to produce products better and faster. Instead of companies having shortages of their products they can now easily produce their products to the demand of the people. Technology has also helped the expansion of companies because they can communicate with each other from anywhere in the country that the company is located, or to other countries as well. Companies can now receive information/reviews about their products, which could lead to a decision to increase production or lower it. This new technology has help companies become more successful everyday.</span>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-37732956772129628862010-12-20T06:35:00.000-08:002010-12-20T06:35:06.295-08:00Post 8 - Malcolm Gladwell1. Companies compete with one another by creating products for individual groups of people, rather than making one product for everyone to satisfy a wider range of needs.<br />
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2. If prices are close to one another, a customer will choose which product tastes better to them.<br />
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3. Oligopoly requires companies to compete with one another with something besides price.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-52907726568815515912010-12-09T06:47:00.001-08:002010-12-14T06:43:32.251-08:00Post 7 - Name the 4 varieties of monopoly and give a real or fake sample of each.1. Natural Monopoly- Public utilities such as water service<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBhWPrOL96FVl6hcmkLU_ux3xtRXDMhNH7xaVRAFUiIFd9pWxT5_uxFP34OsefWf5cA2N_pG9aNXQWPllf-0bZ34AMPufqFPXoYT-79SHgdfbTuL5I5O2rkgrCpOuTdVzJ5aS_WAoVLYI/s1600/Water%252520Services%252520Inc%252520logo%2525202.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="170" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgBhWPrOL96FVl6hcmkLU_ux3xtRXDMhNH7xaVRAFUiIFd9pWxT5_uxFP34OsefWf5cA2N_pG9aNXQWPllf-0bZ34AMPufqFPXoYT-79SHgdfbTuL5I5O2rkgrCpOuTdVzJ5aS_WAoVLYI/s320/Water%252520Services%252520Inc%252520logo%2525202.jpg" width="320" /></a></div><br />
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2. Geographical Monopoly - Bait Shop Near water<br />
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<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWeRNiXQjbsnJg-C1i9BxTmKJXSMfNl_ZM6vqvdt0qQ6A1sCoUtrAxvoFI2tsmDuwJwerzX4Iv5wpmBCHKJz8PbbiHijrgh9h90KsZ0RmQIEb9CFGFSQHTJ5_mGjy0aOW1uq3VCbj7nFU/s1600/bait-shop.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="208" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgWeRNiXQjbsnJg-C1i9BxTmKJXSMfNl_ZM6vqvdt0qQ6A1sCoUtrAxvoFI2tsmDuwJwerzX4Iv5wpmBCHKJz8PbbiHijrgh9h90KsZ0RmQIEb9CFGFSQHTJ5_mGjy0aOW1uq3VCbj7nFU/s320/bait-shop.jpg" width="320" /></a></div><br />
3. Technology Monopoly - Wind Mills<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjgvdUGi6ltd6GqnI4p9Y2VZWDw5qnSvDO_JpKaxEZT4tAhYMFmhHa6f4xCwm3zn-jjhofrr4EGher02K6-LwdQuqtXRPjfy-hrJ2bBO83YMzSnNWg0quSdBfCzocVIPJWU-fMcJE2ggA/s1600/windmill2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjgvdUGi6ltd6GqnI4p9Y2VZWDw5qnSvDO_JpKaxEZT4tAhYMFmhHa6f4xCwm3zn-jjhofrr4EGher02K6-LwdQuqtXRPjfy-hrJ2bBO83YMzSnNWg0quSdBfCzocVIPJWU-fMcJE2ggA/s320/windmill2.jpg" width="214" /></a></div><br />
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4. Government Monopoly - Postal Service<br />
<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjCjkMDevWgU2aPK1ZDwsnGIbz89ME2BXdmRCxkvWszujS2U7bt91qqKwyGf6U3pRNfng63tchzduojow5IKHEnqOqsn7EP2KAuIY1lkfvucrUtucMQFnQ8Td-lUzdBFAEVm49m92dW9i4/s1600/postal-service.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="277" n4="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjCjkMDevWgU2aPK1ZDwsnGIbz89ME2BXdmRCxkvWszujS2U7bt91qqKwyGf6U3pRNfng63tchzduojow5IKHEnqOqsn7EP2KAuIY1lkfvucrUtucMQFnQ8Td-lUzdBFAEVm49m92dW9i4/s320/postal-service.jpg" width="320" /></a></div>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-79585447337846376752010-12-09T06:36:00.002-08:002010-12-10T06:29:41.972-08:00Post 6 - Please find a flip card or review card game for the laws (and their purpouse) mentioned at the end of Chapter 6. Make sure you provide a link to your game!<a href="http://www.studystack.com/studystack-521975"><span style="color: cyan; font-family: Verdana, sans-serif; font-size: x-large;">NICKS STUDY STACK</span></a><a href="http://www.studystack.com/mystacks-213388"><span style="color: lime; font-size: large;"></span></a>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-66819150980448663082010-12-09T06:36:00.000-08:002010-12-09T06:45:16.477-08:00Post 5 - Please write a blog entry on one monopoly or cartel (oligopolies that cooperate) that you want broken up and how that change would benefit you, your friends, and family.An Oligopoly that I would like to see broken up is the gas industry. If this oligopoly were to expand and allow more companies this would allow for more competition. If there is more competition in the gas industry this will drive the price down which would in turn not only help me, but help everyone else driving an automobile.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-20284510167542625132010-12-09T06:30:00.000-08:002010-12-09T06:30:30.181-08:00Post 4 - Please follow this link and take the three practice quizzes and write a blog about the 8 things you learned from these quizzes.1. Oligopoly is the most common non competitive market in the US<br />
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2. Price wars only occur when the price policy fails<br />
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3. A cartel doesnt have to just deal with drugs<br />
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4. Something such as diamonds can be part of a cartel<br />
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5. Another word for monopoly is a trust<br />
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6. One of the best known monopolies was Sherman Oil<br />
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7. In the 1940's the US passed many laws to break up monopolies<br />
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8. L<span style="font-family: Arial;">aissez-faire means "Hands Off"</span>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-86682899536035513262010-12-07T06:31:00.000-08:002010-12-09T06:30:53.133-08:00Post 3 - Pick 5 things you wanted to purchase/actually did purchase recently and identify the market structures the product exists in. After each item - write 3-4 sentences explaining your opinion.1) Oligopoly - Cereal - there are a wide range of similiar cereals that available for everyone to purchase. Since there is no one company creating cereals, these area is an oligopoly.<br />
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2) Monopoly - PSEG - PSEG is an example of a monopoly since in this area, this is the only company we are able to recieve electric from. Since there are no other companies competing PSEG is a monopolistic Company.<br />
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3) Oligopoly - Phone Companies - since there are multiple phone companies to choose from such as Verizon, Sprint, T-Mobile, AT & T, there is no one phone company controlling the market, which allows each company to take part in the competition which is an Oligopoly, they are all different companies doing the same thing<br />
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4) Monopolistic Competition - Kinect - Since Kinect is the only gaming camera capable of making you the controller without actually using a remote, it doesn't allow consumers to pick another product. The only other products out are motion sensor gaming which is the same concept as Kinect but different allowing Kinect to be a Monopolisic gaming add-on<br />
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5) Oligopoly - Lacrosse Sticks - Companies that make lacrosse sticks such as brine, stx, reebok, maverick, nike, warrior all make lacrosse sticks that are similiar, this allows consumers to pick which company they would like to purchase from, making these companies an Oligopoly.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com0tag:blogger.com,1999:blog-452811351267968064.post-46219553610517443242010-12-01T06:37:00.000-08:002010-12-09T06:31:08.823-08:00Post 2 - Visual for comparing the 4 market structures. Find a way to link to your visual/upload or attach it.<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeVuSOfglBNELrqw-9sVA8_9amX0ORXobYuXAvBACy2Zw9Jow5UahQvc1heXfQNVSt8UHNypK-jahfMwFS1hP82uSly9td28CZ9fIs8jkM_TQnVLhNmHbHBCHmvEc1k4ajl1xVfxNStmY/s1600/Picture1.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="218" ox="true" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjeVuSOfglBNELrqw-9sVA8_9amX0ORXobYuXAvBACy2Zw9Jow5UahQvc1heXfQNVSt8UHNypK-jahfMwFS1hP82uSly9td28CZ9fIs8jkM_TQnVLhNmHbHBCHmvEc1k4ajl1xVfxNStmY/s320/Picture1.png" width="320" /></a></div>NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com1tag:blogger.com,1999:blog-452811351267968064.post-61156964780101819862010-11-30T06:46:00.000-08:002010-12-09T06:31:26.563-08:00Post 1 - IntroIm Nick. This blog is for Campbell. I am the #1 fan of Mr. Dwighty a.k.a Ryan. I like to sleep. Have a nice day.NickECampbellEconhttp://www.blogger.com/profile/06012496148052467225noreply@blogger.com1