Friday, October 10, 2014

The New UK Minimum Wage in current and PPP exchange rates compared to US Minimum Wage.

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The UK has different minimum wages for different age groups and for those who are classified as "apprentices". Th numbers below ...
Thursday, October 9, 2014

China vs the US in GDP measurement. I try to explain it using actual vs PPP exchange rates.

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China reported its Gross Domestic Product to be  56.88 trillion Yuan in 2013 . I am going to assume this is "Nominal GDP", not adj...

Depreciation and Small businesses in Japan. My example.

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Here is a nice article on how swings in currency exchange rates are having an adverse affect on small businesses in Japan. Here is an excer...
Tuesday, October 7, 2014

Lower gas prices and higher consumer welfare for the win.

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I read the following passage at Carpe Diem  (emphasis mine): According to the Department of Energy, Americans buy  365 million gallons of ...

NFL prices in 1989 and today. Nice lesson on Inflation.

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I found this on Twitter (I do not have the original link). Shows how much a Season Ticket Package for all the NFL teams cost in 1989 (or i...
Sunday, October 5, 2014

Sometimes Appreciation is not appreciated at all: The currency edtion

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Companies that do business internationally care about movements in currency exchange rates.  They can affect the bottom line in a way the c...

The War on Salmon! Smoke dope, eat almonds, kill fish.

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Two articles I read this morning have the same thing in common---the plight of salmon in California due to a severe water shortage.  Nice ex...
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Friday, October 3, 2014

How are Complementary Goods like Unicorns?

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Sometimes is it hard to come up with good examples of Complements when studying the basics of supply and demand.  They can be elusive, like ...

Having fun with 1938 prices.

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Nice graphic showing a cross-section of prices in 1938 ( Link HERE) .  How have things changed? Source: Classic Pics on Twitter Here a...
Friday, September 26, 2014

See the amount of Federal Tax Refunds issued for the day and tell me this is not inefficient

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Below is a small section of the US Treasury's daily report on various metrics .  It is a short document and has some pretty interesting ...
Thursday, September 25, 2014

Price of iPhones, in select countries, converted into US dollars. Is arbitrage the reason for long lines?

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I found the prices of the new iPhone6 in various countries at this link HERE .  They have the prices for the "regular" one and the...

Corn prices down. My graphs showing how this affects the farmer (AP Micro)

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A current event gives me an opportunity to create a series of graphs to illustrate what happens to "Economic Profits"in a market ...
Wednesday, September 17, 2014

How much is "50 Cent" the rapper worth in Foreign Currencies? Economics is FUN!

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On David Wessel's Twitter feed he retweeted this: I thought it funny as well. Using my meager Excel skills, I cobbled together t...

Basic Supply and Demand illustration. Hope it helps.

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The corn crop for this year (2014) is scheduled to be the most productive ever, with per acre yields in the 162 bushel range ( a bushel is 7...
Monday, September 15, 2014

Literally and figuratively the butter spread is getting wider. See how that affects trade flows.

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The price of butter has surged in recent days as well as recent months. Here is a graph I created showing the price of butter in the US and ...
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