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Archive for October, 2015

Math TV

October 30, 2015 Leave a comment

This guy has lots of great videos made for helping students with math…and life:

Categories: Education

Fractions, Decimals, Percentages

October 30, 2015 1 comment

As we move into learning about price elasticity of demand this week, many students benefit from a quick review of fractions, decimals and percentages. Here are some exercises:

Convert the following fractions to decimal equivalents. Round to the nearest hundredth.

  1. 1/3
  2. 1/4
  3. 1/5
  4. 2/5
  5. 2/3
  6. 1/10
  7. 1/100
  8. 1/6
  9. 1/9
  10. 25/100
  11. 50/75
  12. 22/33
  13. 3/2
  14. 4/5
  15. 10/5

Convert the following numbers to percentages.

  1. 1
  2. 2
  3. 33
  4. 03
  5. 1
  6. 06
  7. 26
  8. 62
  9. 01
  10. 10

Convert the following percentages to numbers:

  1. 1000%
  2. 1%
  3. 62%
  4. 26%
  5. 106%
  6. 110%
  7. 3%
  8. 33%
  9. 20%
  10. 100%

Student who need basic skills review should spend a lot of time watching MathTV!

Categories: Uncategorized

Answers to Take Home Quiz

October 28, 2015 Leave a comment

Normal, inferior, inferior, increase, increase, not change, (answers may vary, such as) coffee, (answers may vary, such as) tea cups, D, B, A, C, increase, [graph–I’ll show you in class], price goes up, change in quantity is ambiguous.

Categories: Uncategorized

Change in Demand vs. Change in Quantity Demanded

October 23, 2015 Leave a comment

Categories: Uncategorized

Today’s Quiz: Supply and Demand

October 23, 2015 Leave a comment
  1. Buyers and sellers who have no influence on market price are referred to as _________ _________.
  2. Quantity demanded falls as the price rises and rises as the price falls, so we say that quantity demanded is _______________ related to the price.
  3. If a good is normal, then an increase in income will result in an _______________ in the demand for the good.
  4. Two goods are substitutes if a decrease in the price of one good _____________ the demand for the other good.
  5. Two goods are complements if a decrease in the price of one good _____________ the demand for the other good.
  6. If a decrease in income increases the demand for a good, then the good is an _______ good.
  7. In the rice market, if buyers are expecting ______________ rice prices in the near future, the demand for rice will increase.
  8. The point at which the supply and demand curves intersect is called _____________.

a9.  At a price of $_____, there would be a surplus of 400 units.

10. At a price of $15, there would be a shortage of ____ units.

11. At a price of $20 would there be an excess ________ amounting to 200 units of the good.

12. At a price of $27.50, there is a _________ of 100 units of the good, and the law of supply and demand predicts that the price will change from $27.50 to a _______ price.

Categories: Microeconomics

Chinese Capital

October 23, 2015 Leave a comment

Very interesting assessment of what’s ahead for China’s economy, with a surprisingly upbeat ending, given the title of this video:

I’m not even remotely qualified to assess the accuracy of Prof. Cowen’s views on what’s happening and on what’s ahead for China. But my limited experience tells me he’s spot on about the most important kind of capital China possesses. I am also optimistic about the transition.

Categories: Uncategorized

Short Video on Comparative Advantage

October 20, 2015 Leave a comment