DOCSLIB.ORG

Sperling, John TITLE ECON 12: Student Materials. Unit I. Test

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Sperling, John TITLE ECON 12: Student Materials. Unit I. Test DOCUMENT RESUME ED 053 048 SO 001 700 AUTHOR Wiggins, Suzanne; Sperling, John ., . TITLE ECON 12: Student Materials. Unit I. Test Edition. INSTITUTION San Jose State Coll., Calif. PUB DATE 68 NOTE 334p. EDRS PRICE EDRS Price MF-$0.65 HC-$13.16 DESCRIPTORS *Concept Teaching, Criterion Referenced Tests, *Economic Education, Experimental Curriculum, Grade 12, Inquiry Training, Instructional Materials, Learning Activities, *Problem Solving, *Programed Materials, Resource Units, Secondary Grades, Social Studies Units, Textbooks, Workbooks IDENTIFIERS *ECON 12 ABSTRACT This revision and expansion of the 1966 edition of the student materials, ED 040 101, is comprised of student workbook and text for Unit I. As an introduction to economics, it is designed to provide a frame of reference for the study of contemporary economic problems. It is a careful study of such concepts as scarcity, wants, resources, and decision-making with respect to the various economic activities found in all economies, and how these activities are organized into economic systems. Economic concepts and their relationships to the other social sciences are stressed incorporating the basic strategy of problem-solving through inquiry. The seven chapter text includes general discussions by the principal author; twenty-eight readings, including some historical resources, others from foreign countries, and several by the author, are keyed to most, of the chapters. The programmed student workbook contains seven programs, criterion tests, and twelve exercises. An extensive use of graphs is continued in the revision, but the unit test is not repeated. Unit II is described in SO 001 701. Other available related documents are: 1) the test editions of the Teacher's Materials for both Unit I and Unit II, ED 040 100; and, 2) the final report of the curriculum development project, ED 028 093. Addison Wesley Company will be publishing the future editions of the units.(SBE) DRAFT COPY: FOR RESTRICTED USE ONLY SOCIAL SCIENCE EDUCATION CONSORTIUM MATERIALS DEPOSITORY Anewre-ft-tteefferreesasimiimmew ECON 12 leel=ermmirtimaimusigo. STUDENT.WORKBOOK UNIT 1 FALL, 1967 TEST EDITION OF HEALTH, US. DEPARTMENT EDUCATION &WELFARE OFFICE,OF EDUCATION HAS BEENREPRO- THIS DOCUMENT AS RECEIVEDFROM DUCED EXACTLYORGANIZATION ORIG- THE PERSON OR OF VIEW OROPIN- INATING 1T. POINTS . DO NOTNECESSARILY IONS STATED OFFICE OF EDU- REPRESENT OFFICIAL OR POLICY. CATION POSITION CENTER FOR ECONOMIC EDUCATION SAN JOSE STATE COLLEGE SAN JOSE, CALIFORNIA TABLE OF CONTENTS UNIT I PAGE Lesson 1 Exercise 1: Scarcity Exercise 2: Choices and Calculating Alternative Costs 3 Lesson Criterion Test 4 Lesson 2 Program: Production Efficiency, Productivity 9 Program: The Law of Diminishing Returns 19 What's In A Word? 30 Lesson Criterion Test 61 Lesson 3 Exercise 1: Exchange and Barter 65 ,Exercise 2: What Is Money? (It's Functions and Qualities)67 Exercise 3: The U.S. Money Supply 71 Exercise 4: Types of Credit and Financial Institutions 73 Exercise 5: Interest Rates for Regular. Buying and Installment Buying 76 Program: Purchasing Power in Income, Wealth, and Credit 82 Program: Capital and Investment 97 Program: Saving 108 Lessor(lrviteellon tem Lesson 4 Exercise 1: The Relation Between Current Saving and Real Investment 123 Exercise .2: Economic Institutions 124 Lesson Criterion Test 127 Lesson 5 Exercise 1: The Circular Flow Diagram as a Model of an Economy 133 Exercise 2: Product and Factor Markets 135 Exercise 3: Measuring Economic Activity the Differences Between "Stocks" and "Flows" 136 Program: Systems 138 Lesson Criterion Test, Part I 154 Lesson Criterion Test, Part II 159 Lesson 6 None Lesson 7 Program: Definition of Economics 164 LESSON 1 UNIT I EXERCISE 1. SCARCITY In economics, scarcity means inadequate supply. A thing is scarce if the needs or desires to use it are greater than the, amount of it immediately available (if wants) resources). The condition of scarcity is a constant part of the human condition; it creates the need for people to organize into community life to better satisfy their wants. Since the purpose of all economic activity is to reduce scarcity, understanding how economists define scarcitywill give you a better insight into what economic choice And activities involve. A. For the following questions, decide whether or not the thing described is scarce. Explain your answer in the space provided by making sure that you can show that, in the particular case, wantslOavailable resources. 1. You are a pilot stranded alone on an island in the South Pacific. You are hungry and there are fish in the sea. You can see them. Are the fish scarce? 2. Suppose that right now, there are 1,000,000 new automobiles waiting to be sold in the U.S. They are being stored by dealers, or, they are en route from the assembly plants to the auto dealers. Are new automobiles scarce in the U.S.? 3. A scientist discovers a new, rare element which, at present, has no use in any production process. Is the element scarce? 4. Is ocean water scarce for a citizen in an inland city like Denver, Colorado? 3 5. Is your time scarce this week? B. Below are statements about scarcity. Check the true statements. (a) all rare things. (b) all things which are produced with the use of scarce resources. (c) all things which are scarce today have always been scarce. (d) Anything which has an alternative cost. (e) all things sold for a price. C. What circumstances must you take into consideration to determine whether or not a thing is scarce? 4 UNIT I EXERCISE 2 LESSON 1 CHOICES AND CALCULATING ALTERNATIVE COSTS John graduated from high school; he has taken a full-time job for $320 per month, and he is looking for an apartment to rent. He has found two apartments that he likes: One is a furnished studio apartment (one room, kitchenette and bath), renting for $75 per month; the other is a furnished one-bedroom apartment with a swimming pool and a nice view from the living-room window, but it rents for $125 per month. He hasn't bought a car yet, and doesn't really need one to get to work. Of course, a car would simplify transportation and dating and he wantsla used Mustang at $50/month. He wants a Hi Fi set which will cost $15/month, and could run up bills for clothes to a limit of $35/month. There is also a possibility of a two-week vacation in Alcapolca (his boss will give him the time off),'but it will cost him $35/month for the next 12 months. 4 1-ela.rnavIt4tvatiS egioidate 1. What are two.alternatiVb cost. of renting the more expensive apartment ? a. b. 2. 01401 two alternative costs of buying the Mustang? a. b. 3. If John tried to make tine most reasonable choice he could, on what basis should he decide whether or not to rent the more expensive apartment? 711MIIM12MM -3- UNIT I LESSON NO. 3 .LESSON CRITERION TM. 1. (In this question, you will notice that each blank that you are to fill in is numbered.The numbers correspond to the correct answers that are listed at the end of the test. Do not check your answers until you have completed this section.) Men's wants are a mixture of (1. wants and (2. wants. A person is rarely completely (3. ,'and if he is, he doesn't stay that way long. A (4. want is a basic need for food, clothing, and shelter, while a (5. want is a desire for greater comfort of the mind and body. Wants are satisfied through the production of (6. and the entire process of satisfying wants has been illustrated by the (7. If what people want is greater than the (8. available to fill the want, then there is (9. This condition of (10. means that people cannot have everything they (11. , and they mustbe selec- tive about what they (12. most.The things we give up in order to use a resource to satisfy a particular want is called the (13. of that satisfaction. This is the real cost of something. One function society serves is to set up ways in which people can (14. disputes over the use of scarce resources. 2. Place the following list of words along side of proper bowor circle in the want-satisfaction chain shown below. Identify which of these boxes or circles represents an economic activity. distribution satisfaction wants physical outputs psychological inputs consumption production 7 3. The list below includes items which ere either inputs or outputs, or are both inputs and outputs. If the item is an input, place a check in the column labeled inputs; if it is an output, place a check in the column labeled output; if it is both, check both columns. Input Output printing press sports car vacation flight to Los Angeles services of ,a barber wild mink wheat commercial airliner operation by a doctor office building surfboard farm tractor oil deposit 4. If mg means equal to :p means greater than ICmeans less than Place the proper sign between the pairs of, items listed below: a. 4 3 a. A +B B+A+C (if C = 10) b. 3 4 f. B4A4C CLEStzial c. 3+4 4+3 g. d. 7+8+6 6+8+6 h. )2 (k)2 5. You are alone on a desert island with a Pocket full of diamonds. Are the diamonds scarce?Explain by describing the scarcity conditions you are assuming in giving your answer. 8 -6- 6. Check the following true statements about scarcity. Whether or not a thing is scarce depends on the persons whose. .wants are 114qmg considered. If a thing is scarce for soMe'People, it is ccarce for everyone.
Load more

Recommended publications
  • The Ricardian Law of Diminishing Returns. a Ew Interpretation
    The Ricardian Law of Diminishing Returns. A ew Interpretation . Leveraging productivity to drive globalization. Lucy Badalian — Victor Krivorotov 11501 Maple Ridge Rd Reston VA 20190 Millennium Workshop, USA [email protected] Abstract . The 2009 IMF report found notable differences between the pre- and post-1985 busts in their ratios of capital/labor. According to historical trends it cited, the recent extreme financialization may cloud our mid-term recovery prospects. The Market Pendulum Model (further MPM) stresses the importance and fluidity of interrelationship between traditional factors of production: land, labor, capital and entrepreneurship. MPM shows the difference between productivity-factors during demand shocks, such as today, and supply shocks (the 1970s-80s). It traces the causal roots of the financialization in market’s compensation for failing fundamentals, the direct result of the Ricardian Law of Diminishing Returns (further RLDR). Keywords : Ricardian Law of Diminishing Returns, financialization, financial crisis, demand shocks/demand shortages, supply shocks/supply shortages, ratio of capital/labor. JEL codes: E1, E20. E5, E6. 1. Introduction. The Interrelationship between Various Factors of Production as a Potential Predictive Tool. The October 2009 report of the IMF showcased the importance of the hitherto under- researched area of the inter-relationship between factors of production, which, in its opinion, holds significant predictive power as to the length and severity of the unfolding recession. It found that the growth in productivity since 1985 was accompanied by a rapid rise in the ratios of capital to labor. Earlier research noted other specific patterns of labor productivity. Among them, the wavelike behavior of multifactor productivity growth, which peaked in 1928-50 and slowed gradually, both when moving back to 1870-91 and forth to 1972-96 (Gordon 2004).
    [Show full text]
  • Trinity Sunday, Year A
    Trinity Sunday, Year A Reading Difficult Texts with the God of Love and Peace We all read Bible passages in the light of our own experiences, concerns and locations in society. It is not surprising that interpretations of the Bible which seem life-giving to some readers will be experienced by other readers as harmful or oppressive. What about these passages that are used to speak of the concept of the Trinity? This week's lectionary Bible passages: Genesis 1:1-2:4a; Psalm 8; 2 Corinthians 13:11-13; Matthew 28:16-20 Who's in the Conversation A conversation among the following scholars and pastors “Despite the desire of some Christians to marginalize those who are different, our faith calls us to embrace the diversity of our personhood created by God and celebrate it.” Bentley de Bardelaben “People often are unable to see „the goodness of all creation‟ because of our narrow view of what it means to be human and our doctrines of sin, God and humanity." Valerie Bridgeman Davis “By affirming that we, too, are part of God‟s „good creation,‟ lesbian, gay, bisexual and transgender people of faith begin to take responsibility for fostering love and peace throughout creation." Ken Stone “When we creep in the direction of believing that we absolutely know God, Christ, and the Holy Spirit, we have not only limited the Trinity, but also sown the seeds of hostility and elitism. We need to be reminded of the powerful, mysterious and surprising ways that the Trinity continues to work among all creation." Holly Toensing What's Out in the Conversation A conversation about this week's lectionary Bible passages LGBT people know that Scripture can be used for troubling purposes.
    [Show full text]
  • The Archaeology of Time Travel Represents a Particularly Significant Way to Bring Experiencing the Past the Past Back to Life in the Present
    This volume explores the relevance of time travel as a characteristic contemporary way to approach (Eds) & Holtorf Petersson the past. If reality is defined as the sum of human experiences and social practices, all reality is partly virtual, and all experienced and practised time travel is real. In that sense, time travel experiences are not necessarily purely imaginary. Time travel experiences and associated social practices have become ubiquitous and popular, increasingly Chapter 9 replacing more knowledge-orientated and critical The Archaeology approaches to the past. The papers in this book Waterworld explore various types and methods of time travel of Time Travel and seek to prove that time travel is a legitimate Bodil Petersson and timely object of study and critique because it The Archaeology of Time Travel The Archaeology represents a particularly significant way to bring Experiencing the Past the past back to life in the present. in the 21st Century Archaeopress Edited by Archaeopress Archaeology www.archaeopress.com Bodil Petersson Cornelius Holtorf Open Access Papers Cover.indd 1 24/05/2017 10:17:26 The Archaeology of Time Travel Experiencing the Past in the 21st Century Edited by Bodil Petersson Cornelius Holtorf Archaeopress Archaeology Archaeopress Publishing Ltd Gordon House 276 Banbury Road Oxford OX2 7ED www.archaeopress.com ISBN 978 1 78491 500 1 ISBN 978 1 78491 501 8 (e-Pdf) © Archaeopress and the individual authors 2017 Economic support for publishing this book has been received from The Krapperup Foundation The Hainska Foundation Cover illustrations are taken from the different texts of the book. See List of Figures for information.
    [Show full text]
  • MARGINAL PRODUCT of LABOR and CAPITAL Assume Q = F(L, K) Is the Production Function Where the Amount Produced Is Given As a Func
    MARGINAL PRODUCT OF LABOR AND CAPITAL Assume Q = f(L, K) is the production function where the amount produced is given as a function of the labor and capital used. For example, for the Cobb-Douglas production function Q = f(L, K) = ALa Kb. Q For a given amount of labor and capital, the ratio is the average amount of production for one unit of K capital. On the other hand the change in the production when the labor is fixed and the capital is changed from K to K + ∆K is ∆Q = f(L, K + ∆K) − f(L, K). Dividing this quantity by ∆K gives the change in the production per unit change in capital, ∆Q f(L, K + ∆K) − f(L, K) = . ∆K ∆K Usually, we take the limit with infinitesimal changes in capital, or taking the limit as ∆L goes to zero we get ∂Q , ∂K which is called the marginal product of capital. The term “marginal” is used because it measures the change of production with a small change of capital. In the same way, ∂Q , ∂L which is called the marginal product of labor. For the Cobb-Douglas production function ∂Q b Q = b A La Kb−1 = and ∂K K ∂Q a Q = a A La−1 Kb = . ∂L K Thus, for the Cobb-Douglas production function, the marginal product of capital (resp. labor) is a constant times the average product of capital (resp. labor). These marginal rates depend on the units used for measuring the quantities. The ratio of the amount of change to the amount held does not depend on the units, ∆Q/Q, and can be interpreted as the “percentage change” of the quantity.
    [Show full text]
  • Medium-Term Determinants of Oecd Productivity
    OECD Economic Studies No . 22. Spring 1994 MEDIUM-TERM DETERMINANTS OF OECD PRODUCTIVITY A . Steven Englander and Andrew Gurney TABLE OF CONTENTS Introduction ................................................ 50 1. Recent perspectives on productivity growth .................... 51 A . Investment and physical capital .......................... 52 B. Infrastructure capital .................................. 56 C . Education and human capital ........................... 57 D . Research and development (R&D) ....................... 61 E . Trade and competition ................................. 61 F. Cyclical influences on medium-term growth ................. 64 G . Energy, demography, labour market unrest. regulation ........ 66 H. Rent-seeking and structural rigidities ...................... 66 1 . Review of selected empirical work ....................... 67 II. Empirical analysis of OECD productivity growth ................. 69 A . Aggregate analysis ................................... 69 B. Industry level analysis ................................. 81 111. Policies to promote productivity growth ....................... 87 A . General considerations ................................ 87 B. Specific policy options ................................. 89 Bibliography ................................................ 95 Annex 7: Simultaneity bias in estimating the contribution of infrastructure to productivity growth ................................ 99 Annex 2: Applying new growth regressions to the OECD ............ 101 Annex 3: Industry aggregations:
    [Show full text]
  • Turner's Public Spirit: Vol. 54, No. 6
    •.!•< '-m •iiiiil i Mp^pp^iiigHig^^a^^^Mi li •••5 •ftfiii _l'.lr a, HK' \ "fX i>! :SPtpLiC SPIMIT. 11^ Fifty-fourth Year Ayer, Mass., Saturday, October 8, 1921 \No.6. f»rice Five Cents This is Something Worth -fA Shouting About •JKrCR. MASS. The H^rt, Schaffner & Mar.x styles in Suits and Overcoats for 1921 are here-new colorings, new fashion ideas, new fabrics. 'Prices m one-third lower than those of the l^all of 1920. We can save money fer you on Suits and Overcoats. Not on the first price, perhaps, but ^ our clothes are better; they wear longer; they still look good and K-4 styhsh when cheaper suits are in the rag bag. -FOU- 'i»l PRICES FROM $35 TO^ $45 OTHER MAKES FROM $i8 TO §35 .'••Iff •• Young New Fall Hats \i Truly a superior coUection of New Hats showing the trend of styles for FalL They are QuaUty Hats that wiU do justice to the Fall Suits balance of your New FaU Outfit. PRICES FROM $3.00 TO $6.00 Ready Our Suits for Young M.e^ are made by speciaUsts whose work is confinea to 'A this type of clothing. This is the reason they give exceUent satisfaction as for fit Get the Bous Readu for Sclidol • ahd style.. • / This is the time to do it, and this store is the place to do it. BOYS' SUITS FROM $8.50 TO $14.00 BOYS' SHOES FROM $2.50 TO $5.50 . CoDyright 1921 Han Schaffner & Marx The New Fall St^le s BOYS' BLOUSES AND SHIRTS 75?* TO $1.50 ARE PLAIN AND SMART, GIVING THE VVEARER A WELL SET-UP,'STyL(SH- ^APPEARANCE > "I Coats aje cut in single or double-breasted, two or three-button, plaia or ) Fletcher Bros.
    [Show full text]
  • Korean Dance and Pansori in D.C.: Interactions with Others, the Body, and Collective Memory at a Korean Performing Arts Studio
    ABSTRACT Title of Document: KOREAN DANCE AND PANSORI IN D.C.: INTERACTIONS WITH OTHERS, THE BODY, AND COLLECTIVE MEMORY AT A KOREAN PERFORMING ARTS STUDIO Lauren Rebecca Ash-Morgan, M.A., 2009 Directed By: Professor Robert C. Provine School of Music This thesis is the result of seventeen months’ field work as a dance and pansori student at the Washington Korean Dance Company studio. It examines the studio experience, focusing on three levels of interaction. First, I describe participants’ interactions with each other, which create a strong studio community and a women’s “Korean space” at the intersection of culturally hybrid lives. Second, I examine interactions with the physical challenges presented by these arts and explain the satisfaction that these challenges can generate using Csikszentmihalyi’s theory of “optimal experience” or “flow.” Third, I examine interactions with discourse on the meanings and histories of these arts. I suggest that participants can find deeper significance in performing these arts as a result of this discourse, forming intellectual and emotional bonds to imagined people of the past and present. Finally, I explain how all these levels of interaction can foster in the participant an increasingly rich and complex identity. KOREAN DANCE AND PANSORI IN D.C.: INTERACTIONS WITH OTHERS, THE BODY, AND COLLECTIVE MEMORY AT A KOREAN PERFORMING ARTS STUDIO By Lauren Rebecca Ash-Morgan Thesis submitted to the Faculty of the Graduate School of the University of Maryland, College Park, in partial fulfillment of the requirements for the degree of Master of Arts 2009 Advisory Committee: Dr. Robert C. Provine, Chair Dr.
    [Show full text]
  • Are There Diminishing Returns to R&D?
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Madsen, Jakob B. Working Paper Are there Diminishing Returns to R&D? EPRU Working Paper Series, No. 2006-05 Provided in Cooperation with: Economic Policy Research Unit (EPRU), University of Copenhagen Suggested Citation: Madsen, Jakob B. (2006) : Are there Diminishing Returns to R&D?, EPRU Working Paper Series, No. 2006-05, University of Copenhagen, Economic Policy Research Unit (EPRU), Copenhagen This Version is available at: http://hdl.handle.net/10419/82093 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu EPRU Working Paper Series Economic Policy Research Unit Department of Economics University of Copenhagen Studiestræde 6 DK-1455 Copenhagen K DENMARK Tel: (+45) 3532 4411 Fax: (+45) 3532 4444 Web: http://www.econ.ku.dk/epru/ Are there Diminishing Returns to R&D? Jakob B.
    [Show full text]
  • Information to Users
    INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the text directly from the original or copy submitted. Thus, some thesis and dissertation copies are in typewriter face, while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleedthrough, substandard margins, and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages, these will be noted. Also, if unauthorized copyright material had to be removed, a note will indicate the deletion. Oversize materials (e.g., maps, drawings, charts) are reproduced by sectioning the original, beginning at the upper left-hand corner and continuing from left to right in equal sections with small overlaps. ProQuest Information and Learning 300 North Zeeb Road, Ann Arbor, Ml 48106-1346 USA 800-521-0600 Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. UNIVERSITY OF CINCINNATI 1 J93S. I hereby recommend that the thesis prepared under my supervision bu ___________________ entitled TVip Aphorisms of GeoTg Christoph Lichtenberg _______ with a Brief Life of Their Author. Materials for a _______ Biography of Lichtenberg. ______________________________________ be accepted as fulfilling this part of the requirements for the degree o f (p /fc -£^OQOTj o Approved by: <r , 6 ^ ^ FORM 660—G.S. ANO CO.—lM—7«33 Reproduced with permission of the copyright owner.
    [Show full text]
  • Intermediate Microeconomics
    Intermediate Microeconomics PRODUCTION BEN VAN KAMMEN, PHD PURDUE UNIVERSITY Definitions Production: turning inputs into outputs. Production Function: A mathematical function that relates inputs to outputs. ◦ e.g., = ( , ), is a production function that maps the quantities of inputs capital (K) and labor (L) to a unique quantity of output. Firm: An entity that transforms inputs into outputs, i.e., engages in production. Marginal Product: The additional output that can be produced by adding one more unit of a particular input while holding all other inputs constant. ◦ e.g., , is the marginal product of capital. Two input production Graphing a function of more than 2 variables is impossible on a 2-dimensional surface. ◦ Even graphing a function of 2 variables presents challenges—which led us to hold one variable constant. In reality we expect the firm’s production function to have many inputs (arguments). Recall, if you have ever done so, doing inventory at the place you work: lots of things to count. ◦ Accounting for all of this complexity in an Economic model would be impossible and impossible to make sense of. So the inputs are grouped into two categories: human (labor) and non-human (capital). This enables us to use the Cartesian plane to graph production functions. Graphing a 2 input production function There are two ways of graphing a production function of two inputs. 1.Holding one input fixed and putting quantity on the vertical axis. E.g., = ( , ). 2.Allowing both inputs to vary and showing quantity as a level set. ◦This is analogous to an indifference curve from utility theory.
    [Show full text]
  • September 4, 2019 Hearing Transcript
    HEARING ON U.S.-CHINA RELATIONS IN 2019: A YEAR IN REVIEW HEARING BEFORE THE U.S.-CHINA ECONOMIC AND SECURITY REVIEW COMMISSION ONE HUNDRED SIXTEENTH CONGRESS FIRST SESSION WEDNESDAY, SEPTEMBER 4, 2019 Printed for use of the United States-China Economic and Security Review Commission Available via the World Wide Web: www.uscc.gov UNITED STATES-CHINA ECONOMIC AND SECURITY REVIEW COMMISSION WASHINGTON: 2019 U.S.-CHINA ECONOMIC AND SECURITY REVIEW COMMISSION CAROLYN BARTHOLOMEW, CHAIRMAN ROBIN CLEVELAND, VICE CHAIRMAN Commissioners: ANDREAS A. BORGEAS KENNETH LEWIS JEFFREY L. FIEDLER MICHAEL A. MCDEVITT HON. CARTE P. GOODWIN HON. JAMES M. TALENT ROY D. KAMPHAUSEN MICHAEL R. WESSEL THEA MEI LEE LARRY M. WORTZEL The Commission was created on October 30, 2000 by the Floyd D. Spence National Defense Authorization Act for 2001 § 1238, Public Law No. 106-398, 114 STAT. 1654A-334 (2000) (codified at 22 U.S.C. § 7002 (2001), as amended by the Treasury and General Government Appropriations Act for 2002 § 645 (regarding employment status of staff) & § 648 (regarding changing annual report due date from March to June), Public Law No. 107-67, 115 STAT. 514 (Nov. 12, 2001); as amended by Division P of the “Consolidated Appropriations Resolution, 2003,” Pub L. No. 108-7 (Feb. 20, 2003) (regarding Commission name change, terms of Commissioners, and responsibilities of the Commission); as amended by Public Law No. 109- 108 (H.R. 2862) (Nov. 22, 2005) (regarding responsibilities of Commission and applicability of FACA); as amended by Division J of the “Consolidated Appropriations Act, 2008,” Public Law Nol. 110-161 (December 26, 2007) (regarding responsibilities of the Commission, and changing the Annual Report due date from June to December); as amended by the Carl Levin and Howard P.
    [Show full text]
  • The Social Impact of the Revolution
    THE SOCIAL IMPACT OF THE REVOLUTION AMERICAN ENTERPRISE INSTITUTE'S DISTINGUISHED LECTURE SERIES Robert Nisbet, historical sociologist and intellectual historian, is Albert Schweitzer professor-elect o[ the humanities at Columbia University. ROBERTA. NISBET THE SOCIAL IMPACT OF THE REVOLUTION Distinguished Lecture Series on the Bicentennial This lecture is one in a series sponsored by the American Enterprise Institute in celebration of the Bicentennial of the United States. The views expressed are those of the lecturers and do not necessarily reflect the views of the staff,officers or trustees of AEI. All of the lectures in this series will be collected later in a single volume. revolution · continuity · promise ROBERTA. NISBET THE SOCIAL IMPACT OF THE REVOLUTION Delivered in Gaston Hall, Georgetown University, Washington, D.C. on December 13, 1973 American Enterprise Institute for Public Policy Research Washington, D.C. © 1974 by American Enterprise Institute for Public Policy Research, Washington, D.C. ISBN 0-8447-1303-1 Library of Congress Catalog Card Number L.C. 74-77313 Printed in the United States of America as there in fact an American Revolution at the end of the eighteenth century? I mean a revolu­ tion involving sudden, decisive, and irreversible changes in social institutions, groups, and traditions, in addition to the war of libera­ tion from England that we are more likely to celebrate. Clearly, this is a question that generates much controversy. There are scholars whose answer to the question is strongly nega­ tive, and others whose affirmativeanswer is equally strong. Indeed, ever since Edmund Burke's time there have been students to de­ clare that revolution in any precise sense of the word did not take place-that in substance the American Revolution was no more than a group of Englishmen fighting on distant shores for tradi­ tionally English political rights against a government that had sought to exploit and tyrannize.
    [Show full text]