Micro Articles “Senate Holds Hearing on Price Gouging” By H. Joseph Hebert, The Washington Post, Tuesday, September 6, 2005;. Available through www.washingtonpost.com. Read the article and respond to the following. - When would you say a gas station is “price gouging”? How easy do you think it is to define and recognize “price gouging” in a market? Explain.
- How might consumer expectations in the market for gasoline have contributed to rising gas prices? Graph and explain you answer.
- What effect would a price ceiling on gasoline have on the market? Graph and explain.
“Immigration, at Last.” Editorial, The Washington Post, Thursday, January 8, 2004; page A22. Available through www.washingtonpost.com. Read the editorial and respond to the following questions. - What are the costs and benefits of the proposed immigration legislation to legal workers, illegal workers, and the country as a whole?
- Use a supply and demand graph to illustrate and explain how changing the law to allow illegal workers to “enjoy the protection of labor and minimum wage laws” will affect wage and employment in the market for unskilled labor.
Macro Articles “China's Foreign Direct Investment Drops” By Elaine Kurtenbach, The Washington Post, Monday, August 15, 2005. Available through www.washingtonpost.com. Read the article and respond to the following. - Explain how changes in direct foreign investment affect China 's GDP.
- How can the elimination of waste (e.g. water, oil, and electricity) in the economy be illustrated using a production possibilities curve?
- Use a supply and demand graph to illustrate how an increase in the demand for China's export goods will affect the price and quantity of those goods.
“Maybe We Could All Deliver Pizza...” By Jodie T. Allen, The Washington Post, Sunday, March 7, 2004; page B01. Available through www.washingtonpost.com. Read the article and respond to the following questions. - Do you think outsourcing is good for our economy? Why or why not?
- What is the other side of the argument regarding outsourcing (the other side of your answer in #1)?
- How can increasing productivity be seen as both the source of and solution to the current unemployment problem?
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