Think of a situation where someone you know, or perhaps a salesperson, or an organization, attempted to persuade you to buy a product, service or an idea (i.e. political vote, ‘feed the children’ foundation, public broadcasting, etc.) and describe what stands out as some key reasons you rejected the ‘pitch’. Was your rejection related to the message, the style, the personality of the communicator, or something left out, etc?

Think of a situation where someone you know, or perhaps a salesperson, or an organization, attempted to persuade you to buy a product, service or an idea (i.e. political vote, ‘feed the children’ foundation, public broadcasting, etc.) and describe what stands out as some key reasons you rejected the ‘pitch’. Was your rejection related to the message, the style, the personality of the communicator, or something left out, etc?

Yes, it started when the neighborhood communality persons came to … Read More...
Think of a situation where someone you know, or perhaps a salesperson, or an organization, attempted to persuade you to buy a product, service or an idea (i.e. political vote, ‘feed the children’ foundation, public broadcasting, etc.) and describe what stands out as some key reasons you rejected the ‘pitch’. Was your rejection related to the message, the style, the personality of the communicator, or something left out, etc?

Think of a situation where someone you know, or perhaps a salesperson, or an organization, attempted to persuade you to buy a product, service or an idea (i.e. political vote, ‘feed the children’ foundation, public broadcasting, etc.) and describe what stands out as some key reasons you rejected the ‘pitch’. Was your rejection related to the message, the style, the personality of the communicator, or something left out, etc?

Yes, it started when the neighborhood communality persons came to … Read More...
Name: _____________________ Wire Resistance and Ohm’s Law PhET MiniLab Introduction: When an electrical potential exists in a circuit, a current may flow. Current is the flow of electrons in a circuit. Resistance in the circuit slows the flow of the electrons, reducing the current in the circuit. We will use the mathematical form of Ohm’s Law frequently when we investigate electric current and circuits later in this unit. Additional Material Needed: Clean Drinking Straw Procedure Part I Wire Resistance: • Blow through the drinking straw. • Cut the drinking straw in half and blow through a half-straw. • Describe the effect of length on ease to blow air through the straw. _________________________________________ • Cut the halves again in half. • With the four pieces, blow through one, then blow through all four made into a larger, square-shaped straw. • Describe the effect of straw size (diameter) on ease to blow air through the straw. ______________________________ • Now, open the PhET Simulation Electricity, Magnets, and Circuits  Resistance in a Wire As wire length (cm) increases, the resistance (Ω) _________________ As wire area (cm2) increases, the resistance (Ω) __________________ As wire density (Ωcm) increases, the resistance (Ω) _______________ Procedure Part II: Ohm’s Law: Electricity, Magnets, and Circuits  Ohm’s Law mA is milliamps, and _________ milliamps equals one Ampere. • Move the potential (volts) and resistance (ohms) sliders and observe the current (amps) As voltage increases, current __________________. As resistance increases, current ________________. Fill out the tables below and check your work in the simulation. ( ½ pt each ) • Remember, the simulation shows milliamps. • You should show Amperes V = I * R 8.0 V A 800 Ω 2.0 V .044 A Ω V .0058 A 430 Ω V .069 A 100 Ω 6.4 V A 300 Ω Conclusion Questions: ( ½ pt each) 1. Incandescent light bulbs have a very thin filament that glows when hot. Thin filaments have very high / low resistance. 2. The 12V battery in your car operates a 25 amp car stereo. What is the resistance of this stereo system? ___________ 3. A “2D” Maglite flashlight runs on 3.0V. What is the current through the bulb if resistance is 15 Ω ? ____________ 4. How many volts must an iPod charger provide to charge an iPOD using .85 Amps at 35 Ω? _____________ 5. You need to buy a long extension cord to power a stereo at your spring break BBQ. You need 200feet. You have a 50 ft cord that will work. You rationalize that four such 50 ft cords will do the job. Is this a good idea? Why or Why not? ___________________________________________________________________________________________

Name: _____________________ Wire Resistance and Ohm’s Law PhET MiniLab Introduction: When an electrical potential exists in a circuit, a current may flow. Current is the flow of electrons in a circuit. Resistance in the circuit slows the flow of the electrons, reducing the current in the circuit. We will use the mathematical form of Ohm’s Law frequently when we investigate electric current and circuits later in this unit. Additional Material Needed: Clean Drinking Straw Procedure Part I Wire Resistance: • Blow through the drinking straw. • Cut the drinking straw in half and blow through a half-straw. • Describe the effect of length on ease to blow air through the straw. _________________________________________ • Cut the halves again in half. • With the four pieces, blow through one, then blow through all four made into a larger, square-shaped straw. • Describe the effect of straw size (diameter) on ease to blow air through the straw. ______________________________ • Now, open the PhET Simulation Electricity, Magnets, and Circuits  Resistance in a Wire As wire length (cm) increases, the resistance (Ω) _________________ As wire area (cm2) increases, the resistance (Ω) __________________ As wire density (Ωcm) increases, the resistance (Ω) _______________ Procedure Part II: Ohm’s Law: Electricity, Magnets, and Circuits  Ohm’s Law mA is milliamps, and _________ milliamps equals one Ampere. • Move the potential (volts) and resistance (ohms) sliders and observe the current (amps) As voltage increases, current __________________. As resistance increases, current ________________. Fill out the tables below and check your work in the simulation. ( ½ pt each ) • Remember, the simulation shows milliamps. • You should show Amperes V = I * R 8.0 V A 800 Ω 2.0 V .044 A Ω V .0058 A 430 Ω V .069 A 100 Ω 6.4 V A 300 Ω Conclusion Questions: ( ½ pt each) 1. Incandescent light bulbs have a very thin filament that glows when hot. Thin filaments have very high / low resistance. 2. The 12V battery in your car operates a 25 amp car stereo. What is the resistance of this stereo system? ___________ 3. A “2D” Maglite flashlight runs on 3.0V. What is the current through the bulb if resistance is 15 Ω ? ____________ 4. How many volts must an iPod charger provide to charge an iPOD using .85 Amps at 35 Ω? _____________ 5. You need to buy a long extension cord to power a stereo at your spring break BBQ. You need 200feet. You have a 50 ft cord that will work. You rationalize that four such 50 ft cords will do the job. Is this a good idea? Why or Why not? ___________________________________________________________________________________________

1-In _____ auctions, there is one buyer who wants to buy a product. Suppliers submit bids, and the lowest bid wins. forward static reverse physical simple 2- Which of the following is NOT an effect that e-commerce has had on organizations? E-commerce enables smaller businesses to operate in areas dominated by larger companies. E-commerce increases the number of potential customers to whom the company can market its products. E-commerce is a costly medium for increasing market share. E-commerce removes many barriers for start-up businesses. E-commerce makes it easy to reach customers around the world. 3- The degree of digitization relates to all of the following except: the product or service sold the process by which the product is produced the delivery agent or intermediary the size of e-commerce transactions None of these 4- In _______ e-commerce, the sellers and buyers are organizations. government-to-citizen consumer-to-consumer business-to-business business-to-consumer consumer-to-business 5- BitTorrent uses a process called _____, which eliminates file-sharing bottlenecks by having everyone share little pieces of a file at the same time. leeching collaboration packet switching torrents swarming 6- eBay uses a _____ auction. forward static reverse physical simple 7- A(n) _____ is a network designed to serve the internal informational needs of a single organization. global network extranet internet intranet World Wide Web 8- _____ are internet access points that are located in public places, such as libraries and airports. Clients Servers Internet access computers Network computer Internet kiosks 9- Consider this domain name: www.business.gsu.edu. The “edu” is the _______. top-level domain URL website locator name of the computer address of the webmaster 10- Internet service providers connect to one another through _____. internet connection points common carrier connection points network access points network connection points an extranet

1-In _____ auctions, there is one buyer who wants to buy a product. Suppliers submit bids, and the lowest bid wins. forward static reverse physical simple 2- Which of the following is NOT an effect that e-commerce has had on organizations? E-commerce enables smaller businesses to operate in areas dominated by larger companies. E-commerce increases the number of potential customers to whom the company can market its products. E-commerce is a costly medium for increasing market share. E-commerce removes many barriers for start-up businesses. E-commerce makes it easy to reach customers around the world. 3- The degree of digitization relates to all of the following except: the product or service sold the process by which the product is produced the delivery agent or intermediary the size of e-commerce transactions None of these 4- In _______ e-commerce, the sellers and buyers are organizations. government-to-citizen consumer-to-consumer business-to-business business-to-consumer consumer-to-business 5- BitTorrent uses a process called _____, which eliminates file-sharing bottlenecks by having everyone share little pieces of a file at the same time. leeching collaboration packet switching torrents swarming 6- eBay uses a _____ auction. forward static reverse physical simple 7- A(n) _____ is a network designed to serve the internal informational needs of a single organization. global network extranet internet intranet World Wide Web 8- _____ are internet access points that are located in public places, such as libraries and airports. Clients Servers Internet access computers Network computer Internet kiosks 9- Consider this domain name: www.business.gsu.edu. The “edu” is the _______. top-level domain URL website locator name of the computer address of the webmaster 10- Internet service providers connect to one another through _____. internet connection points common carrier connection points network access points network connection points an extranet

1-In _____ auctions, there is one buyer who wants to … Read More...
Book review The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public by Lynn Stout Provide 1) a 900 word review of this book (word range 900-1,200) and 2) a 350 word reflection where you force yourself to relate the message of the book . As per the format of the review, I like the ones done by the folks of the WSJ. This is an example: http://forums.delphiforums.com/diversecity/messages?msg=17531.1264 or http://www.wsj.com/articles/book-review-how-adam-smith-can-change-your-life-by-russ-roberts-1413846808?KEYWORDS=book+reviews

Book review The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public by Lynn Stout Provide 1) a 900 word review of this book (word range 900-1,200) and 2) a 350 word reflection where you force yourself to relate the message of the book . As per the format of the review, I like the ones done by the folks of the WSJ. This is an example: http://forums.delphiforums.com/diversecity/messages?msg=17531.1264 or http://www.wsj.com/articles/book-review-how-adam-smith-can-change-your-life-by-russ-roberts-1413846808?KEYWORDS=book+reviews

The Shareholder Value Myth: How Putting Shareholders First Harms Investors, … Read More...
ECON 101 FALL 2015 EXAM 1 NAME:______________________________ 1. Suppose the price elasticity of demand for cheeseburgers equals 1.37. This means the overall demand for cheeseburgers is: A) price elastic. B) price inelastic. C) price unit-elastic. D) perfectly price inelastic. 2. The price elasticity of demand for skiing lessons in New Hampshire is less than 1.00. This means that the demand is ______ in New Hampshire. A) price elastic B) price inelastic C) price unit-elastic D) perfectly price elastic 3. If the demand for textbooks is price inelastic, which of the following would explain this? A) Many alternative textbooks can be used as substitutes. B) Students have a lot of time to adjust to price changes. C) Textbook purchases consume a large portion of most students’ income. D) The good is a necessity. 4. A major state university in the South recently raised tuition by 12%. An economics professor at this university asked his students, “Due to the increase in tuition, how many of you will transfer to another university?” One student out of about 300 said that he or she would transfer. Based on this information, the price elasticity of demand for education at this university is: (Hint: one out of 300 is how much of a percentage change? Which percentage change is greater – tuition or transfer? Apply the basic formula for elasticity that I put on the board a few times.) A) one. B) highly elastic. C) highly inelastic. D) zero. 5. Suppose the price elasticity of demand for fishing lures equals 1 in South Carolina and 0.63 in Alabama. To increase revenue, fishing lure manufacturers should: (Hint: If the demand for a product is inelastic, the price can go up and you’ll still buy it, since there are no or few substitutes. If the demand for a product is elastic, the price can go up and you’ll probably walk away from it, since substitutes are available. How might this info impact the pricing strategies of firms?) A) lower prices in each state. B) raise prices in each state. C) lower prices in South Carolina and raise prices in Alabama. D) leave prices unchanged in South Carolina and raise prices in Alabama. Read your syllabus and answer questions 6 through 10: 6. T or F: Disruptive classroom behavior includes the following: chatting with fellow students, use of electronic devices such as laptops, tablets, notebooks, and cell phones, reading or studying during class, sleeping, arriving late, departing early, studying for another class, or in any other way disturbing the class. 7. T or F: It’s OK to use my computer in class or play with my phone. There is no penalty attached to these activities and Keiser doesn’t really mind. 8. T or F: It’s OK to show up late for class and disrupt one of Keiser’s swashbuckling lectures. 9. T or F: Attendance is highly optional since it doesn’t impact my final course grade. 10. T or F: I should blow off the career plan/business plan assignment in this course because it’s unimportant to my future and not worth many points. 11. Jacquelyn is a student at a major state university. Which of the following is not an example of an explicit, or direct, cost of her attending college? A) Tuition B) Textbooks C) the salary that she could have earned working full time D) computer lab fees 12. The two principles of tax fairness are: A) the minimize distortions principle and the maximize revenue principle. B) the benefits principle and the ability-to-pay principle. C) the proportional tax principle and the ability-to-pay principle. D) the equity principle and the efficiency principle. 13. The benefits principles says: A) the amount of tax paid depends on the measure of value. B) those who benefit from public spending should bear the burden of the tax that pays for that spending. C) those with greater ability to pay should pay more tax. D) those who benefit from the tax should pay the same percentage of the tax base as those who do not benefit. 14. A tax that rises less than in proportion to income is described as: (Hint: This would have more of a negative impact on lower income earners vs. higher income earners.) A) progressive. B) proportional. C) regressive. D) structural. 15. The U.S. income tax is _______, while the payroll tax is _______. (Hint: Think income tax vs. Social Security tax.) A) progressive; progressive C) regressive; progressive B) progressive; regressive D) regressive; regressive 16. Who is currently leading in the polls to receive the Republican nomination as that party’s presidential candidate? A) Qasem Soleimani B) Abu Bakr al-Baghdadi C) Osama bin Laden D) Donald J. Trump 17. The single most important thing I’ve learned in class this term is: A) stay in frickin’ school B) stay in school and make a plan for life and my career C) the use of cheese for skyscraper construction D) both A and B above 18. Market equilibrium occurs when: A) there is no incentive for prices to change in the market. B) quantity demanded equals quantity supplied. C) the market clears. D) all of the above occur. 19. Excess supply occurs when: (Hint: Draw a supply and demand graph! Think about price ceilings and floors and the graphs of these we discussed in class.) A) the price is above the equilibrium price. B) the quantity demanded exceeds the quantity supplied. C) the price is below the equilibrium price. D) both b and c occur. 20. The single most important thing I’ve learned in class this term is: a. stay in school and look into either a study abroad or internship experience b. stay in school and make a plan for life and my career c. the untimely demise of Cecil the lion in Zimbabwe d. both a. and b. above 21. According to the textbook definition, mainstream microeconomics generally focuses on a. how individual decision-making units, like households and firms, make economic decisions. b. the performance of the national economy and policies to improve this performance. c. the relationship between economic and political institutions. d. the general level of prices in the national economy. 22. Which of the following is the best summary of the three basic economic questions? a. Who? Why? and When? b. What? How? and Who? c. When? Where? and Why? d. What? Where? and Who? 23. Which of the following is not one of the basic economic resources? a. land b. labor c. capital d. cheese e. entrepreneurship 24. The largest country in the Arabian Peninsula and home to the cities of Riyadh, Jeddah, Mecca, and Medina is: a. The Kingdom of Saudi Arabia b. California c. Spain d. Kentucky 25. T or F: The law of demand explains the upward slope of the supply curve. 26. In economics, a “marginal” value refers to: a. the value associated with an important or marginal activity. b. a value entered as an explanatory item in the margin of a balance sheet or other accounts. c. the value associated with one more unit of an activity. d. a value that is most appropriately identified in a footnote. 27. A government mandated price that is below the market equilibrium price is sometimes called. . . (Hint: Draw a graph again and think about what the government is trying to accomplish.) a. a price ceiling. b. a price floor. c. a market clearing price. d. a reservation price. 28. T or F: Entering the US job market without any education or training is crazy and should be avoided. Stay in frickin’ school, baby! 29. The law of demand states that, other things equal: a. as the price increases, the quantity demanded will increase. b. as the price decreases, the demand curve will shift to the right. c. as the price increases, the quantity demanded will decrease. d. none of the above. 30. The law of supply says: a. other things equal, the quantity supplied of a good is inversely related to the price of the good. b. other things equal, the supply of a good creates its own demand. c. other things equal, the quantity supplied of a good is positively related to the price of the good. d. none of the above. 31. A perfectly inelastic demand curve is: a. horizontal. b. downward sloping. c. upward sloping. d. vertical. 32. A trade-off involves weighing costs and benefits. a. true b. false 33. A perfectly elastic demand curve is: a. horizontal. b. downward sloping. c. upward sloping. d. vertical. 34. The second most important thing I’ve learned in class this term is: a. despair is not an option b. Donald J. Trump’s hair is real c. the use of cheese for skyscraper construction d. none of the above 35. T or F: Virtually any news item has important economic dimensions and consequences. 36. T or F: When studying economics, always think in terms of historical context. 37. This popular Asian country is populated by 1.3 billion people, has the world’s second largest economy, and uses a language that’s been in continuous use for nearly 5,000 years: a. Kentucky b. California c. Spain d. China 38. T or F: The top priority in my life right now should be my education and an internship experience. Without these, the job market is going to kick my butt! 39. Which of the following is a key side effect generated by the use of price ceilings? a. black markets b. products with too high of quality c. an excess supply of a good d. too many resources artificially channeled into the production of a good 40. Which of the following is NOT one of the four basic principles for understanding individual choice? a. Resources are scarce. b. The real cost of something is the money that you must pay to get it. c. “How much?” is a decision at the margin. d. People usually take advantage of opportunities to make themselves better off. 41. A hot mixture of pan drippings, flour, and water is commonly known as: a. interest rates and expected future real GDP. b. interest rates and current real GDP. c. inflation and expected future real GDP. d. gravy. 42. The example we used in class when discussing the inefficiency of quantity quotas was: a. Uber b. General Electric c. AT&T d. the KSU marching band 43. The term we learned in class signifying a key method of non-price competition is: a. excess supply chain management b. arbitrage c. swashbuckling d. product differentiation 44. When discussing market failure and the role of regulation in class, which company/product did we use as an example? a. Pabst Blue Ribbon b. JetBlue c. Blue Bell d. Blue Apron 45. Governments may place relatively high sales taxes on goods such as alcohol and tobacco because: a. such taxes are a significant source of revenue b. such goods exhibit inelastic demand c. such taxes may discourage use of these products d. all of the above 46. When discussing the cost of higher education in class, which country did we cite as an example of one that offers free college for qualifying students? a. USSR b. Rhodesia c. Czechoslovakia d. Germany 47. Which of the following is not an example of market failure we discussed in class? a. externalities b. public goods c. fungible goods d. common pool resources e. equity 48. T or F: As we discussed in class, the real reason why the US has lost jobs to China is the “most favored nation” (MFN) trading status granted to China by the US back in the 1980s. 49. The dude we talked about in class who coined the expression “invisible hand” and promoted self-interest and competition in his famous book “The Wealth of Nations” is: a. Abu Bakr al-Baghdadi b. Ali Khamenei c. Donald J. Trump d. Adam Smith 50. When studying for your final exams and attempting to allocate your limited time among several subjects in order to maximize your course grades (recall, we talked about this example during the first week of class), you’re almost unconsciously engaging in a form of: a. fraud b. miscellaneous serendipity b. mitosis d. marginal analysis

ECON 101 FALL 2015 EXAM 1 NAME:______________________________ 1. Suppose the price elasticity of demand for cheeseburgers equals 1.37. This means the overall demand for cheeseburgers is: A) price elastic. B) price inelastic. C) price unit-elastic. D) perfectly price inelastic. 2. The price elasticity of demand for skiing lessons in New Hampshire is less than 1.00. This means that the demand is ______ in New Hampshire. A) price elastic B) price inelastic C) price unit-elastic D) perfectly price elastic 3. If the demand for textbooks is price inelastic, which of the following would explain this? A) Many alternative textbooks can be used as substitutes. B) Students have a lot of time to adjust to price changes. C) Textbook purchases consume a large portion of most students’ income. D) The good is a necessity. 4. A major state university in the South recently raised tuition by 12%. An economics professor at this university asked his students, “Due to the increase in tuition, how many of you will transfer to another university?” One student out of about 300 said that he or she would transfer. Based on this information, the price elasticity of demand for education at this university is: (Hint: one out of 300 is how much of a percentage change? Which percentage change is greater – tuition or transfer? Apply the basic formula for elasticity that I put on the board a few times.) A) one. B) highly elastic. C) highly inelastic. D) zero. 5. Suppose the price elasticity of demand for fishing lures equals 1 in South Carolina and 0.63 in Alabama. To increase revenue, fishing lure manufacturers should: (Hint: If the demand for a product is inelastic, the price can go up and you’ll still buy it, since there are no or few substitutes. If the demand for a product is elastic, the price can go up and you’ll probably walk away from it, since substitutes are available. How might this info impact the pricing strategies of firms?) A) lower prices in each state. B) raise prices in each state. C) lower prices in South Carolina and raise prices in Alabama. D) leave prices unchanged in South Carolina and raise prices in Alabama. Read your syllabus and answer questions 6 through 10: 6. T or F: Disruptive classroom behavior includes the following: chatting with fellow students, use of electronic devices such as laptops, tablets, notebooks, and cell phones, reading or studying during class, sleeping, arriving late, departing early, studying for another class, or in any other way disturbing the class. 7. T or F: It’s OK to use my computer in class or play with my phone. There is no penalty attached to these activities and Keiser doesn’t really mind. 8. T or F: It’s OK to show up late for class and disrupt one of Keiser’s swashbuckling lectures. 9. T or F: Attendance is highly optional since it doesn’t impact my final course grade. 10. T or F: I should blow off the career plan/business plan assignment in this course because it’s unimportant to my future and not worth many points. 11. Jacquelyn is a student at a major state university. Which of the following is not an example of an explicit, or direct, cost of her attending college? A) Tuition B) Textbooks C) the salary that she could have earned working full time D) computer lab fees 12. The two principles of tax fairness are: A) the minimize distortions principle and the maximize revenue principle. B) the benefits principle and the ability-to-pay principle. C) the proportional tax principle and the ability-to-pay principle. D) the equity principle and the efficiency principle. 13. The benefits principles says: A) the amount of tax paid depends on the measure of value. B) those who benefit from public spending should bear the burden of the tax that pays for that spending. C) those with greater ability to pay should pay more tax. D) those who benefit from the tax should pay the same percentage of the tax base as those who do not benefit. 14. A tax that rises less than in proportion to income is described as: (Hint: This would have more of a negative impact on lower income earners vs. higher income earners.) A) progressive. B) proportional. C) regressive. D) structural. 15. The U.S. income tax is _______, while the payroll tax is _______. (Hint: Think income tax vs. Social Security tax.) A) progressive; progressive C) regressive; progressive B) progressive; regressive D) regressive; regressive 16. Who is currently leading in the polls to receive the Republican nomination as that party’s presidential candidate? A) Qasem Soleimani B) Abu Bakr al-Baghdadi C) Osama bin Laden D) Donald J. Trump 17. The single most important thing I’ve learned in class this term is: A) stay in frickin’ school B) stay in school and make a plan for life and my career C) the use of cheese for skyscraper construction D) both A and B above 18. Market equilibrium occurs when: A) there is no incentive for prices to change in the market. B) quantity demanded equals quantity supplied. C) the market clears. D) all of the above occur. 19. Excess supply occurs when: (Hint: Draw a supply and demand graph! Think about price ceilings and floors and the graphs of these we discussed in class.) A) the price is above the equilibrium price. B) the quantity demanded exceeds the quantity supplied. C) the price is below the equilibrium price. D) both b and c occur. 20. The single most important thing I’ve learned in class this term is: a. stay in school and look into either a study abroad or internship experience b. stay in school and make a plan for life and my career c. the untimely demise of Cecil the lion in Zimbabwe d. both a. and b. above 21. According to the textbook definition, mainstream microeconomics generally focuses on a. how individual decision-making units, like households and firms, make economic decisions. b. the performance of the national economy and policies to improve this performance. c. the relationship between economic and political institutions. d. the general level of prices in the national economy. 22. Which of the following is the best summary of the three basic economic questions? a. Who? Why? and When? b. What? How? and Who? c. When? Where? and Why? d. What? Where? and Who? 23. Which of the following is not one of the basic economic resources? a. land b. labor c. capital d. cheese e. entrepreneurship 24. The largest country in the Arabian Peninsula and home to the cities of Riyadh, Jeddah, Mecca, and Medina is: a. The Kingdom of Saudi Arabia b. California c. Spain d. Kentucky 25. T or F: The law of demand explains the upward slope of the supply curve. 26. In economics, a “marginal” value refers to: a. the value associated with an important or marginal activity. b. a value entered as an explanatory item in the margin of a balance sheet or other accounts. c. the value associated with one more unit of an activity. d. a value that is most appropriately identified in a footnote. 27. A government mandated price that is below the market equilibrium price is sometimes called. . . (Hint: Draw a graph again and think about what the government is trying to accomplish.) a. a price ceiling. b. a price floor. c. a market clearing price. d. a reservation price. 28. T or F: Entering the US job market without any education or training is crazy and should be avoided. Stay in frickin’ school, baby! 29. The law of demand states that, other things equal: a. as the price increases, the quantity demanded will increase. b. as the price decreases, the demand curve will shift to the right. c. as the price increases, the quantity demanded will decrease. d. none of the above. 30. The law of supply says: a. other things equal, the quantity supplied of a good is inversely related to the price of the good. b. other things equal, the supply of a good creates its own demand. c. other things equal, the quantity supplied of a good is positively related to the price of the good. d. none of the above. 31. A perfectly inelastic demand curve is: a. horizontal. b. downward sloping. c. upward sloping. d. vertical. 32. A trade-off involves weighing costs and benefits. a. true b. false 33. A perfectly elastic demand curve is: a. horizontal. b. downward sloping. c. upward sloping. d. vertical. 34. The second most important thing I’ve learned in class this term is: a. despair is not an option b. Donald J. Trump’s hair is real c. the use of cheese for skyscraper construction d. none of the above 35. T or F: Virtually any news item has important economic dimensions and consequences. 36. T or F: When studying economics, always think in terms of historical context. 37. This popular Asian country is populated by 1.3 billion people, has the world’s second largest economy, and uses a language that’s been in continuous use for nearly 5,000 years: a. Kentucky b. California c. Spain d. China 38. T or F: The top priority in my life right now should be my education and an internship experience. Without these, the job market is going to kick my butt! 39. Which of the following is a key side effect generated by the use of price ceilings? a. black markets b. products with too high of quality c. an excess supply of a good d. too many resources artificially channeled into the production of a good 40. Which of the following is NOT one of the four basic principles for understanding individual choice? a. Resources are scarce. b. The real cost of something is the money that you must pay to get it. c. “How much?” is a decision at the margin. d. People usually take advantage of opportunities to make themselves better off. 41. A hot mixture of pan drippings, flour, and water is commonly known as: a. interest rates and expected future real GDP. b. interest rates and current real GDP. c. inflation and expected future real GDP. d. gravy. 42. The example we used in class when discussing the inefficiency of quantity quotas was: a. Uber b. General Electric c. AT&T d. the KSU marching band 43. The term we learned in class signifying a key method of non-price competition is: a. excess supply chain management b. arbitrage c. swashbuckling d. product differentiation 44. When discussing market failure and the role of regulation in class, which company/product did we use as an example? a. Pabst Blue Ribbon b. JetBlue c. Blue Bell d. Blue Apron 45. Governments may place relatively high sales taxes on goods such as alcohol and tobacco because: a. such taxes are a significant source of revenue b. such goods exhibit inelastic demand c. such taxes may discourage use of these products d. all of the above 46. When discussing the cost of higher education in class, which country did we cite as an example of one that offers free college for qualifying students? a. USSR b. Rhodesia c. Czechoslovakia d. Germany 47. Which of the following is not an example of market failure we discussed in class? a. externalities b. public goods c. fungible goods d. common pool resources e. equity 48. T or F: As we discussed in class, the real reason why the US has lost jobs to China is the “most favored nation” (MFN) trading status granted to China by the US back in the 1980s. 49. The dude we talked about in class who coined the expression “invisible hand” and promoted self-interest and competition in his famous book “The Wealth of Nations” is: a. Abu Bakr al-Baghdadi b. Ali Khamenei c. Donald J. Trump d. Adam Smith 50. When studying for your final exams and attempting to allocate your limited time among several subjects in order to maximize your course grades (recall, we talked about this example during the first week of class), you’re almost unconsciously engaging in a form of: a. fraud b. miscellaneous serendipity b. mitosis d. marginal analysis

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1-Two notions serve as the basis for all torts: wrongs and compensation. True False 2-The goal of tort law is to put a defendant in the position that he or she would have been in had the tort occurred to the defendant. True False 3-Hayley is injured in an accident precipitated by Isolde. Hayley files a tort action against Isolde, seeking to recover for the damage suffered. Damages that are intended to compensate or reimburse a plaintiff for actual losses are: compensatory damages. reimbursement damages. actual damages. punitive damages. 4-Ladd throws a rock intending to hit Minh but misses and hits Nasir instead. On the basis of the tort of battery, Nasir can sue: Ladd. Minh. the rightful owner of the rock. no one. 4-Luella trespasses on Merchandise Mart’s property. Through the use of reasonable force, Merchandise Mart’s security guard detains Luella until the police arrive. Merchandise Mart is liable for: assault. battery. false imprisonment. none of the choice 6-The extreme risk of an activity is a defense against imposing strict liability. True False 7-Misrepresentation in an ad is enough to show an intent to induce the reliance of anyone who may use the product. True False 8-Luke is playing a video game on a defective disk that melts in his game player, starting a fire that injures his hands. Luke files a suit against Mystic Maze, Inc., the game’s maker under the doctrine of strict liability. A significant application of this doctrine is in the area of: cyber torts. intentional torts. product liability. unintentional torts 9-More than two hundred years ago, the Declaration of Independence recognized the importance of protecting creative works. True False 10-n 2014, Cloud Computing Corporation registers its trademark as provided by federal law. After the first renewal, this registration: is renewable every ten years. is renewable every twenty years. runs for life of the corporation plus seventy years. runs forever. 11-Wendy works as a weather announcer for a TV station under the character name Weather Wendy. Wendy can register her character’s name as: a certification mark. a trade name. a service mark. none of the choices 12-Much of the material on the Internet, including software and database information, is not copyrighted. True False 13-In a criminal case, the state must prove its case by a preponderance of the evidence. True False 14-Under the Fourth Amendmentt, general searches through a person’s belongings are permissible. True False 15-Maura enters a gas station and points a gun at the clerk Nate. She then forces Nate to open the cash register and give her all the money. Maura can be charged with: burglary. robbery. larceny. receiving stolen property. 16-Reno, driving while intoxicated, causes a car accident that results in the death of Santo. Reno is arrested and charged with a felony. A felony is a crime punishable by death or imprisonment for: any period of time. more than one year. more than six months. more than ten days. 17-Corporate officers and directors may be held criminally liable for the actions of employees under their supervision. True False 18-Sal assures Tom that she will deliver a truckload of hay to his cattle ranch. A person’s declaration to do a certain act is part of the definition of: an expectation. a moral obligation. a prediction. a promise. 19-Lark promises to buy Mac’s used textbook for $60. Lark is: an offeror. an offeree a promisee. a promisor. 20-Casey offers to sell a certain used forklift to DIY Lumber Outlet, but Casey dies before DIY accepts. Most likely, Casey’s death: did not affect the offer. shortened the time of the offer but did not terminated it. extended the time of the offer. terminated the offer.

1-Two notions serve as the basis for all torts: wrongs and compensation. True False 2-The goal of tort law is to put a defendant in the position that he or she would have been in had the tort occurred to the defendant. True False 3-Hayley is injured in an accident precipitated by Isolde. Hayley files a tort action against Isolde, seeking to recover for the damage suffered. Damages that are intended to compensate or reimburse a plaintiff for actual losses are: compensatory damages. reimbursement damages. actual damages. punitive damages. 4-Ladd throws a rock intending to hit Minh but misses and hits Nasir instead. On the basis of the tort of battery, Nasir can sue: Ladd. Minh. the rightful owner of the rock. no one. 4-Luella trespasses on Merchandise Mart’s property. Through the use of reasonable force, Merchandise Mart’s security guard detains Luella until the police arrive. Merchandise Mart is liable for: assault. battery. false imprisonment. none of the choice 6-The extreme risk of an activity is a defense against imposing strict liability. True False 7-Misrepresentation in an ad is enough to show an intent to induce the reliance of anyone who may use the product. True False 8-Luke is playing a video game on a defective disk that melts in his game player, starting a fire that injures his hands. Luke files a suit against Mystic Maze, Inc., the game’s maker under the doctrine of strict liability. A significant application of this doctrine is in the area of: cyber torts. intentional torts. product liability. unintentional torts 9-More than two hundred years ago, the Declaration of Independence recognized the importance of protecting creative works. True False 10-n 2014, Cloud Computing Corporation registers its trademark as provided by federal law. After the first renewal, this registration: is renewable every ten years. is renewable every twenty years. runs for life of the corporation plus seventy years. runs forever. 11-Wendy works as a weather announcer for a TV station under the character name Weather Wendy. Wendy can register her character’s name as: a certification mark. a trade name. a service mark. none of the choices 12-Much of the material on the Internet, including software and database information, is not copyrighted. True False 13-In a criminal case, the state must prove its case by a preponderance of the evidence. True False 14-Under the Fourth Amendmentt, general searches through a person’s belongings are permissible. True False 15-Maura enters a gas station and points a gun at the clerk Nate. She then forces Nate to open the cash register and give her all the money. Maura can be charged with: burglary. robbery. larceny. receiving stolen property. 16-Reno, driving while intoxicated, causes a car accident that results in the death of Santo. Reno is arrested and charged with a felony. A felony is a crime punishable by death or imprisonment for: any period of time. more than one year. more than six months. more than ten days. 17-Corporate officers and directors may be held criminally liable for the actions of employees under their supervision. True False 18-Sal assures Tom that she will deliver a truckload of hay to his cattle ranch. A person’s declaration to do a certain act is part of the definition of: an expectation. a moral obligation. a prediction. a promise. 19-Lark promises to buy Mac’s used textbook for $60. Lark is: an offeror. an offeree a promisee. a promisor. 20-Casey offers to sell a certain used forklift to DIY Lumber Outlet, but Casey dies before DIY accepts. Most likely, Casey’s death: did not affect the offer. shortened the time of the offer but did not terminated it. extended the time of the offer. terminated the offer.

1-Two notions serve as the basis for all torts: wrongs … Read More...
TEXT The sole text is Daniel Bonevac’s Today’s Moral Issues. This is an extremely accessible work that organizes the subject matter of ethics into well-structured units involving both general principles and focused ethical dilemmas. The instructor will guide the students through the pertinent readings and discussion topics. Exam #3: WAR ECONOMIC EQUALITY 1. Aquinas 5. Mill 2. Grotius 6. Hospers 3. Clausewitz 7. Anderson 4. Gandhi CONCERNING THE SHORT PAPER Choose one of our dilemma topics from our book as the focus of your short paper. If you have another topic in mind, please consult with me for permission. —length: 4 to 5 pages — format: typed —number of points: 10 — submission via Bb, under “Assignments” — Format: Microsoft Word — Line Spacing: Double-Spaced —Print: Black The following is merely a suggestion for the organization of the paper, but it might be useful as an indication of how it could look: a) Initial statement of your position concerning the moral dilemma; how to resolve it, how you plan to argue for/against it. b) Amplification of your position; your main points or position. c) Backup: some cited references and supporting evidence for your position. d) Your criticisms of alternative or contrary points of view. e) Your conclusion/summing up. Plagiarism is a serious breach of academic integrity. If you submit plagiarized materials you will receive a zero on the assignment. If you need an extension of the due date for the paper, please consult with me.

TEXT The sole text is Daniel Bonevac’s Today’s Moral Issues. This is an extremely accessible work that organizes the subject matter of ethics into well-structured units involving both general principles and focused ethical dilemmas. The instructor will guide the students through the pertinent readings and discussion topics. Exam #3: WAR ECONOMIC EQUALITY 1. Aquinas 5. Mill 2. Grotius 6. Hospers 3. Clausewitz 7. Anderson 4. Gandhi CONCERNING THE SHORT PAPER Choose one of our dilemma topics from our book as the focus of your short paper. If you have another topic in mind, please consult with me for permission. —length: 4 to 5 pages — format: typed —number of points: 10 — submission via Bb, under “Assignments” — Format: Microsoft Word — Line Spacing: Double-Spaced —Print: Black The following is merely a suggestion for the organization of the paper, but it might be useful as an indication of how it could look: a) Initial statement of your position concerning the moral dilemma; how to resolve it, how you plan to argue for/against it. b) Amplification of your position; your main points or position. c) Backup: some cited references and supporting evidence for your position. d) Your criticisms of alternative or contrary points of view. e) Your conclusion/summing up. Plagiarism is a serious breach of academic integrity. If you submit plagiarized materials you will receive a zero on the assignment. If you need an extension of the due date for the paper, please consult with me.

Non-violence as a rule of love   The mainly essential … Read More...