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Internet Exercises
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1

Go to http://www.statcan.ca/english/freepub/21-007-XIE/21-007-XIE2006010.htm

Farm Commodity Prices – Supply and Demand in Action. Use the link in the McConnell-Brue-Barbiero Web site (Chapter 3) to access data on the prices of farm products. Choose three farm products of your choice and determine whether their prices (as measured by "prices received by farmers") have generally increased, decreased, or stayed the same over the past three years. In which of the three cases, if any, do you think that supply has increased more rapidly than demand? In which of the three cases, if any, do you think that demand has increased more rapidly than supply? Explain your reasoning.
2

Go to http://www.census.gov/ipc/www/idbpyr.html

Changes in Demand-Baby Diapers and Retirement Villages Other things equal, an increase in the number of buyers for a product or service will increase demand. Baby diapers and retirement villages are two products designed for different population groups. The McConnell-Brue-Barbiero Web site (Chapter 3) provides links to population pyramids (graphs that show the distribution of population by age and sex) for countries for the current year, 2025, and 2050. View the population pyramids for Mexico, Japan, and Canada. Which country would you expect to have the greatest percentage increase in demand for baby diapers in the year 2050? For retirement villages? Which country would you expect to have the greatest absolute increase in demand for baby diapers? For retirement villages?





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