tag:blogger.com,1999:blog-12133310723783888842024-03-14T03:18:20.036-05:00Hayward "Blah, Blah, Blah" Blog---Just a (Retired now) High School Economics Teacher. That's all...Thank you for visiting my blog. I post things I think will be of interest to high school students and teachers of economics/government/civics etc. Please leave a comment if what you find here has been useful to you. THANK YOU!GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.comBlogger2136125tag:blogger.com,1999:blog-1213331072378388884.post-68283798921940971382024-01-22T12:47:00.011-06:002024-01-24T14:22:30.814-06:00ACT Reading Test Stratgies. My nominal suggestions. I do a little ACT tutoring. I have watched just about every YouTube video on every ACT subject tested. Everyone has their own take on how to approach each test, which leads to a wide variety of opinions. The Reading Test (and Science test), as opposed to the English and Math tests, seems to have fewer moving parts overall. The English test has a million grammar and GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-16159099193667466222024-01-19T11:10:00.007-06:002024-01-19T17:14:28.504-06:00"The History of the Chevron Doctrine"--things you may not have known...Two cases regarding the so-called "Chevron Doctrine", Loper Bright Enterprises v. Raimondo and Relentless, Inc. v. Department of Commerce, were argued this week at the Supreme Court. This very short article helps explain the issues in the original case that established the doctrine.In short, when a statute's (law) verbiage comes into question, a court uses a "2-step" GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-65231109801926988642023-11-19T16:48:00.008-06:002023-11-26T11:46:21.795-06:0014th Amendment Section 3: Does anyone know what it really means? I divided up Section 3 by each subject referred to and used clause #5, "who, having previously taken an oath", as the mid-point where the dependent clauses that follow refer back to the prior clauses. There is a high level of parallelism/symmetry with the clause(s) but not a perfect correlation. For example, "elector of the President and Vice President" is explicit in the first GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-68673507556470160552023-11-05T14:30:00.001-06:002023-11-05T14:32:44.929-06:00What is a "Fact" in the context of the Declaration of Independence? Jefferson is a clever dude... I was just re-reading the article I have previously posted (The Stylistic Artistry of the Declaration of Independence). In this article, there are MANY nuggets of insight into the writing of the Declaration by Jefferson. Words matter!The analysis of the word "Fact" is one that made me think today. This word is found in this line (underline/emphasis mine):To prove this [the GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-28356015733854174862023-11-05T10:35:00.002-06:002023-11-05T10:57:01.774-06:00My retirement hobby--Fantasy SCOTUSDon't, err, "judge" me. Since retiring in January 2021, I have been an active participant in Fantasy SCOTUS, an online forum for crowd-sourcing predictions of cases argued in the Supreme Court's current term/session. My handle there is "geneh".As they say, it is the journey, not the destination with this activity. Over the past year or so I have learned A LOT about how the Court GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-88458721605778727242023-08-27T13:55:00.017-05:002023-08-27T20:45:34.028-05:00The use of the word "Necessary" in the opening of the Dec of Independence was no accident...And this is only the beginning!This is a deep-ish dive into the historical AND literary meaning/structure of the Dec of Independence. Basically a word-by-word and phrase-by-phrase analysis. I cannot emphasize enough how informative this is on so many levels. Great for Social Studies AND for English Composition/Literature. Enjoy! It is not too long!The Stylistic Artistry of the Declaration of GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-31882805081167224392023-08-14T15:09:00.004-05:002023-11-22T15:16:22.140-06:00Redundancy Trap with the ACTThese can be sneaky. Beware of "redundancy"---using different words that mean the same to describe or explain one thing. Here is a good example:
Source HEREGeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-81018775862158205472023-08-14T14:17:00.002-05:002023-08-14T14:21:25.113-05:00
Source: ACT Prep AcademyGeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-24013398560134649742019-05-09T06:24:00.002-05:002019-05-09T06:25:28.889-05:00Private vs Pubic GoodsGeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-43096601785868041142018-05-12T08:24:00.001-05:002018-05-12T08:26:44.311-05:00Quick Personal Finance Lesson: What these 4 things are costing you each week/month.I like the focus of this blog post here: Beware the Four Horseman of Personal Finance.
It cites 4 basic things to AVOID in order to vastly improve your personal financial situation: Cigarettes, Alcohol, the Lottery, and Dining Out.
Using average weekly spending on these items, I will show you how much these things cost you in time relative to some an hourly wage.
Depending on individual GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-48427517240469176432018-04-02T11:22:00.001-05:002018-04-07T09:58:37.533-05:00Tariffs and Marginal Analysis--what economists care about.
A big issue this week is the Trump administrations levying of tariffs on imported steel and aluminum. Just yesterday China announced that it would levy counter-tariffs on a whole host of US goods it imports. Blah! A potential trade war coming down the road?
I am not sure, but I wanted to show you all how economists, for the most part, view policy changes like this. This applies not GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-7981489267699785952018-01-31T12:41:00.002-06:002018-01-31T12:41:46.916-06:00I updated my 2007 in-class Stock Market Activity. I did pretty well in the over the last 10 years. I recently found the companies I used for a stock market activity for class in 2007 and updated the value with current prices. The number of shares I purchased is in the second column.
I fictitiously invested $25,000 in each of these companies. You can see the results below.
Inflation was roughly 18% over that time span, so my overall rate of return is pretty darn good!
Wish I had the money atGeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-39008145767908212132018-01-18T18:58:00.001-06:002018-01-18T18:59:01.053-06:00When is the value of an export not the value of the export?Here is a graphic I found on Twitter (lost the source). It is a vivid example of how the trade numbers are a bit of an illusion.
The graphic on the right is the one I am interested in. It shows the dollar cost to produce an iPhone to be $600.00. This is the total value as it leaves its final assembly point in China.
When it is shipped from China to the US, China is credited with $600 in GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-29410497517992134742018-01-03T11:15:00.003-06:002018-01-03T11:16:39.128-06:00Another reminder of the importance of the supply chain for a good.Here is a graphic from a French publication that nicely illustrates the importance of the regional and global supply chain for inputs that go into making an output, in this case the Honda Civic assembled in the UK/EU region.
These supply chains are very tight and help contribute to efficiencies that keep prices low(er).
It is also a nice lesson in Comparative Advantage.
Source HERE
GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-76247485956802415732017-12-20T18:56:00.001-06:002017-12-21T07:22:23.396-06:00"The Sisterhood of the Traveling Pants" is not just a movie title---it is a story of International Trade. Those pants REALLY DO travelSaw this graphic on Twitter HERE. It nicely illustrates the complexity of international trade. Trade is the sum of the supply chain that is necessary for the production of any good, from the simple to the complex. Regardless of the complexity of the good being produced, the supply chain is itself an eco-system that must be nurtured and respected.
Also, it serves as a reminder to me as to howGeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-85812553504285618912017-12-20T17:30:00.000-06:002017-12-20T17:38:55.813-06:00Do we buy stuff from Countries OR do we buy stuff from people? Here is a different look at US trade numbers.Trade numbers are published on a national level---comparing country to country. No problem with that, but here is another way to frame the numbers.
We trade with the actual, real live citizens of the respective country. They buy our stuff and we buy theirs.
So, how do the national trade numbers look when we quantify them on a per person basis?
Below is a graphic I created to show the US trade GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-31025630575675179502017-11-22T08:11:00.000-06:002017-11-22T08:11:17.932-06:00Thanksgiving Day meal adjusted for historical minimum and average wage. Are we better off?The American Farm Bureau does an annual pricing of a Thanksgiving Day meal to illustrate the changes in prices over time. They use the following methodology:
""A total of 141 volunteer shoppers checked prices at grocery stores in 39 states for this year’s survey. Farm Bureau volunteer shoppers are asked to look for the best possible prices, without taking advantage of special promotional GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-7506235048072795662017-09-13T18:58:00.002-05:002017-09-13T19:07:28.651-05:00PPF: Constant Opportunity Cost and Increasing Opportunity CostGeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-28942483415817765772017-09-02T11:48:00.003-05:002017-09-02T11:48:43.346-05:00Thinking about majoring in Economics but wonder what kind of careers are available? GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-43529502215038784812017-08-30T09:53:00.002-05:002017-12-20T17:38:02.778-06:00Continuum of Economic Systems
Labeling and characterizing particular countries economic systems based on how they are organized to allocate societies scarce resources can be a tricky proposition. People tend to insert their own biases in assessing the label.
Here is a simple presentation of the "facts". We can debate/argue the specifics of where a particular country falls on the continuum (I inserted select GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-24410718644424432232017-08-26T12:10:00.002-05:002017-08-26T12:10:30.420-05:00Dwayne "The Rock " Johnson understands TANSTAAFL. Video proof!This from his Facebook page. He is acknowledging a young mans heroics (rightly so!) but at the end of this video (about the 50 second mark) he makes a remark that stunned me.
A pretty solid reference to a basic economic concept we learn the fist day in economics! While he does not identify it directly, "TANSTAAFL", the intent is clear.
Made me smile. Only a minute long. Worth it!
GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-19545881505594639372017-08-25T16:47:00.000-05:002017-08-26T07:17:10.047-05:00Potential Real GDP vs Actual Real GDP and the PPF.Here is a nice illustration of "Potential Real GDP" vs "Actual Real GDP. Potential GDP is an estimate at a given point in time of an economy's potential to produce Real GDP given its available resources (Land, Labor, Capital, Entrepreneurship). Gives me an opportunity to show how two important AP Macroeconomic concepts are related to each other.
The Congressional Budget Office GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-63388224747784630402017-08-20T08:01:00.001-05:002017-08-20T08:01:12.889-05:00Hotel price surge for the Eclipse: Price Gouging or Revenue Smoothing? Easy call for me...If you are looking for a last minute hotel room in the path of the eclipse you will either find no availability or a shockingly high price for a one night stay.
Below is the price for a stay at a Days Inn hotel I found on Hotels.com in rural Kentucky.
The first price is the "normal" price they charge for a room, the second is for Sunday, August 20th (eclipse is Monday afternoon). A GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-35591839965863960762017-08-15T15:54:00.001-05:002017-08-15T15:54:50.171-05:00Foreign Exchange Market presentation for AP Macroeconomics
Foreign exchange market from Gene Hayward
GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0tag:blogger.com,1999:blog-1213331072378388884.post-66771951208235728822017-08-15T13:13:00.003-05:002017-08-15T15:54:27.159-05:00Smartphone/Creative Destruction Cartoon. I see lots of consumer and producer surplus value. How about you?Stop and think about ALL the separate and distinct products we used to have to purchase individually to do all the things a Smartphone can do today.
One way to think of Smartphones is it is a plus for the environment. Think about all the resources, most non-renewable, that are not employed because they are contained in one small rectangular case.
I am not sure the real value of these GeneHaywardhttp://www.blogger.com/profile/08848814178464097668noreply@blogger.com0