Saturday, August 26, 2017

Dwayne "The Rock " Johnson understands TANSTAAFL. Video proof!

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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)...
Friday, August 25, 2017

Potential Real GDP vs Actual Real GDP and the PPF.

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Here is a  nice illustration of "Potential Real GDP" vs "Actual Real GDP.  Potential GDP is an estimate at a given point in t...
Sunday, August 20, 2017

Hotel price surge for the Eclipse: Price Gouging or Revenue Smoothing? Easy call for me...

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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 f...
Tuesday, August 15, 2017

Foreign Exchange Market presentation for AP Macroeconomics

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Foreign exchange market from Gene Hayward

Smartphone/Creative Destruction Cartoon. I see lots of consumer and producer surplus value. How about you?

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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 d...

Keynesian Multiplier Effect Illustrated

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Here is a presentation I created that explains the Keynesian Multiplier Effect in as simple terms as I can make it.  I bit long in number of...

Wording for Correct answers for Foreign Exchange Market (FOREX) on the AP Macroeconomics FRQ's

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On the AP Macroeconomics exam you can be 99% certain you will be asked Foreign Exchange Market question(s) on the FRQ section of the test....
Monday, August 14, 2017

Calculating Comparative Advantage with Output and Input Methods Made Easy...I think.

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One of the hardest concepts to intuitively understand in economics is Comparative Advantage. Seems like most of the time with students a dee...

Absolute and Comparative Advantage for Dummies...like me.

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Here is my very detailed look at how to calculate Absolute and Comparative Advantage for AP Economics.  Overkill? Maybe, but it is a step by...
Thursday, August 10, 2017

Ticket to Disneyland in 1955 vs 2017---which is a better "value"?

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This ticket to Disneyland in 1955 cost $1.00.  In 1955 the minimum wage was $.75 (75 cents) , so it took 1.33 hours of labor to earn enough ...

Nice resource for illustrating "Increasing Opportunity Costs" and the concave nature of the PPF

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Here is a nice article on the great productivity slowdown in the US, and in the developed world for the most part. The article is interest...
Wednesday, August 9, 2017

Negative Externality: Meat industry blamed for largest-ever 'dead zone' in Gulf of Mexico

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This article,  Meat industry blamed for largest-ever 'dead zone' in Gulf of Mexico , suggests that the market quantity for meat p...
Tuesday, August 1, 2017

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The most prominent determinant for a "change in supply" is a change in the cost of an input that goes into the production of an ou...
Tuesday, July 25, 2017

How to answer basic Demand and Supply Problems in 3 easy steps.

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Determining which curve to shift in the simple Demand and Supply model can be a challenge for students. Students tend to rush and "ov...
Tuesday, July 18, 2017

Bacon and Supply/Demand Graphs. What a great breakfast combination.

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A nice article to practice graphing Supply and Demand.   America’s Lust for Bacon Is Pushing Pork Belly Prices to Records (Article an...
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