Beyond the Sound Bites:
The Higher Education Bubble
It is often said that a process that cannot go on forever, won't. Over the past few decades, college and graduate tuitions have climbed much faster than the rate of inflation and the growth of household income, with the difference being made up by debt taken on by students who assumed they'd have no trouble paying it off after graduation. Now students are graduating with big debts, but no jobs. This process can't go on forever. What happens when it stops?
Glenn Harlan Reynolds is the Beauchamp Brogan Distinguished Professor of Law at the University of Tennessee. The author most recently of An Army of Davids: How Markets And Technology Empower Ordinary People To Beat Big Media, Big Government, And Other Goliaths, Reynolds is also a Contributing Editor at Popular Mechanics, a columnist at the Washington Examiner, and the host of "InstaVision" on PJTV.
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The Quiz 9.(4) Prep Page is available.
For the Make-up Quiz, consider the material found in Chapter 9 Section 3:
minimum tax, VAT (Value-Added Tax), flat tax, federal tax reform, business taxes, profits, tax burden, personal income rate, depreciation, investment tax credit, and, capital gains.
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If you have been studying for the Exam since I first posted guidelines on "May 17, 2011 1:51 pm" you should be fine; however, these are intended to be helpful suggestions to improve your score.
Unit 4 Macroeconomics: Performance and Stabilization
Section 2: Inflation
Use a graphic organizer to identify the steps in measuring inflation.
Profiles in Economics
p. 368, #1, How did Friedman disagree with other economists about achieving economic stability?
#2, How do you think the quality of education would be affected if free market principles were applied to schools?
Milton Friedman - Socialism is Force, 6:39
Why did socialism fail in the Soviet Union?
What values does socialism have?
In contrast, what values does capitalism possess?
What happens when you try to do good with other people's money?
When is the most harm done?
Who was worst between Lenin, Mussolini, and Hitler? Why?
Milton Friedman discusses the moral values encouraged by economic systems and explains that a primary difference between capitalism and socialism is the difference between free choice and compulsory force.
Section 3 Unemployment
civilian labor force
Complete a graphic organizer by describing the different sources of unemployment.
How do we calculate the monthly unemployment rate
Which categories of unemployment do you think are the most troublesome for the U.S. economy? Why?
What makes the GDP gap a type of opportunity cost?
Use a graphic organizer to identify the people who are considered unemployed and those excluded from the civilian labor force.
Student Web Activity
13.1 Business Cycles
13.2 Index of Leading Economic Indicators
13.7 Measuring Consumer Discomfort
Ch. 13 Multiple-choice Quiz
Wisconsin Labor Protests - Noodles, 1:36
Homemaking Knowledge Contributes To The Enrichment of Life, 9:19
From the "Why Study Home Economics?" (1955); Two teenage girls learn how a knowledge of homemaking can contribute to the enrichment of life. They also learn about the vocational opportunities available to home economic students. Home economics, is an academic discipline which combines aspects of consumer science, nutrition, cooking, parenting and human development, interior decoration, textiles, family economics, housing, apparel design and resource management as well as other related subjects. Producer: Centron Corporation; Creative Commons license: Public Domain.
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1. p. 348, #26-28.