Questions for test?

Your test will be on Tuesday so this is your opportunity to ask for clarification on any issues that you have found during your studying adventure. Please remember that you were to have read the topics listed on your syllabus for the first unit in your textbook (the green cover McConnell and Brue). Topics for free response should be limited in the fields of PPF, Comparative Advantage, Supply and Demand and FOREX. The multiple choice will be open to all of these topics in addition to those basic economic concepts listed on your syllabus.

Please post comments below or just comment to tell me that you are fine and well prepared for Tuesday. either way I would love to hear from you. Thanks

Comparative Advantage

Newland - 10 cloth, 2 food

Beeland - 10 cloth, 1 food

The table above shows the production possibilities of two nations that are producing cloth and food, using equal amounts of resources.

A1 - Calculate the opportunity cost of producing a unit of cloth in Newland.

A2 - Calculate the opportunity cost of producing a unit of food in Beeland.

B1 - Which nation has the comparative advantage in cloth production?

B2 - Which nation has the comparative advantage in food production?

C - Now assume that the productivity of Beeland's workers triples for each good.

C1 - Which country has a comparative advantage in food production?

C2 - Explain how you determined your answer.

*Taken from the College Board released free response questions

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Also, if you were stranded on a desert island and could bring one thing with you what would it be and why. You may assume that the basic necessities will be available for you (i.e.- food, water, shelter, etc.).


Thank you and have a nice day.

Welcome Class of 2012

Welcome Class of 2012. This AP Economics course will go into great depth on the backbone and structure of our Capitalist system. This blog will be an excellent resource for you to get questions answered and review important themes that my have been neglected during class times. We have a very aggressive schedule that will require some out of class time study. This will be an excellent way to keep track.

I am glad you have selected this course. Its gonna be a fun ride.

Happy Holiday Break

I hope everyone has a great break and I wish you a happy safe time with family. See you when you come back on January 3. Don't miss me too much!!!

Tips for test

Follow the American Dollar

Ceteris Paribus

Opposite curves, same direction

Comparative Advantage is about the least opportunity cost, not what you do the best

Got any others?

Please Study for the Exam Tomorrow 12/7

"A Date the shall live in infamy." - FDR


International Trade Test

Items on the exam open for free response

Balance of Payments
Comparative Advantage
FOREX

Puke questions

Tariffs
Fixed or floating currencies
NTBs
General international trade questions