Friday, March 28, 2014

Nice short video about the progress the world has made in the past 50 years (20 for that matter). Louie Armstrong was right...

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It's a wonderful world....Feeling down about the state of the planet and its inhabitants?  Here is a little pick me up that will put thi...

Explain-er with real life example: The difference between accounting costs and "economic" costs. This is why every one hates economists but love their accountant.

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Here is a graph (HT:  Big Picture Agriculture ) that shows the relationship over time (1972-2012) between the Average Total Cost ("ATC...

A short lesson on the difference between a "Constant Cost" and "Increasing Cost" Production Possibilities Frontier. A must know for AP Econ!!

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Understanding the difference between a "Constant Cost (Straight Line)" and an "Increasing Cost (Concave)" Production Pos...
Saturday, March 22, 2014

Full-employment, Progressive Era style. Nice photo of bowling pin setters in 1910.

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This photo accompanies a nice article on "The Rise and Fall of Professional Bowling".   It was taken in 1910.    From Wikipedia,...

See how the price and quantity sold of the simple i-Pod as changed over time since its introduction in 2003. The i-Pod is Dead, Long Live the i-Pod...

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Ok, it is not really dead, but it is on its way to becoming an impulse buy in line at the grocery store. The iPod will go down in history ...
Wednesday, March 19, 2014

A survey suggests businesses won't reduce staff, maybe slow hiring of new workers BUT raise prices if the minimum wage goes to $10.10. Let me show you how this is possible.

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The Wall Street Journal had this graphic based on a recent survey regarding business sentiment towards a potential increase in the Federal m...

Which is the most and least expensive city to attend an NBA game for you and 3 friends? For once, geography does not seem to matter. See interesting data here...

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Here is an interesting survey of NBA (National Basketball Association) teams and how much it costs to attend a game.  Lots of interesting da...
Tuesday, March 18, 2014

Nice real time data and graphs to illustrate a Price Floor. A must know concept for the AP Microeconomics test!

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Agricultural commodities are produced in technically what is called a  “Perfectly Competitive” Market.  .   The prices are established i...
Sunday, March 16, 2014

A grade earned in an introductory college course is a pretty good predictor as to whether someone is going to major in that subject. HOWEVER, men and women respond very differently to that grade. Nice graphic with an example here.

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This graphic comes from a study by Harvard professor Claudia Goldin  (click for an article by her on this topic). It shows, by grade attai...
Friday, March 14, 2014

Not in my area of expertise but here is what I think happened to Malaysian Flight 370.

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I want to go on record with my theory of what happened to Malaysian Flight 370. I just saw a profile of the pilots on CNN.  The co-pilot ...

TurboTax e-mails price increase threat without giving ANY details. Not cool, Turbo Tax, not cool...

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Just received this e-mail a few minutes ago from TurboTax, which I use for doing my Federal and State tax returns. The yellow highlight is...
Wednesday, March 12, 2014

More evidence the Federal government is a book-keeper and not a doer.

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Here is some isolated data from the just released 2015 Budget Outlook by the White House. Once again I find myself staring at numbers tha...

If you are a "salaried manager" making MORE than $455 per week but LESS than ??, you will want to read this. Your paycheck may be changing in the near future.

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Today the Obama Administration will direct the Department of Labor to revise an important regulation on the payment for overtime as it perta...
Tuesday, March 11, 2014

A single mom with two kids will get a 39% pay increase if the minimum wage goes to $10.10, right? She will be the first one to tell you NO, not even close! See the numbers here.

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Here is a table (I modified it a little) from The Economix that shows how an increase in the minimum wage from $7.25 to $10.10 per hour will...
Monday, March 10, 2014

Nice graphic on how much it costs to manufacture US coins. Time for the penny AND Nickel to go???

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The Washington Post has an excellent story and a few graphs on the cost of making money. Not earning money but the actual manufacture of...
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