Supply and Demand Practice

In your response, select the first unanswered problem from the table. Give your answers to the problem and then leave a problem of your own. The first to respond will answer #2 and leave question #34, the next student to respond will answer #3 and leave #35 and so on.

Market	Event	Would the demand curve or supply curve shift?	Would the curve shift to the right or left?	Determinant Involved
1. wheat	A drought destroys much of the crop.	Supply	Left	Stoner (R) Resources/Raw Materials
2. redwood lumber	Environmentalists urge consumers to boycott redwood products.
3. cigars	A new study shows that smoking cigars results in lots of wrinkles.
4. butter	The price of margarine goes up.
5. paper	The price of wood pulp rises.
6. Hula hoops	Brad Pitt confides to People   magazine that "he gets a big kick out of his hula hoop."
7. yachts	The average price of stocks falls by over 20% between now and the end of the year.
8. gasoline	Large sports-utility vehicles   (like Suburbans and Expeditions) become more popular.
9. umbrellas	Heavy rain is forecast.
10. tofu	E. Coli bacteria is found in another meat plant.
11. gasoline	Two oil supertankers collide.
12.hamburger	The price of hamburger rises.
13.oranges	There's an early frost which   destroys much of the crop.
14. apples	A new pesticide is developed which controls tent caterpillars.
15. grapes	The National Marines Fisheries Service bans pesticide spraying within 1,000 feet of waterways containing coho salmon.
16. wine	The average wage of grape harvesters rises by 10%.
17. U.S. cars	The U.S. imposes a tariff on Japanese car imports.
18. hospital beds	Scientists discover a pill that cures cancer.
19. cement	A 7.9 earthquake hits San Francisco.
20.Video rentals	The price of getting cable TV goes up.
21. windshields	A new law is passed requiring gravel trucks to cover their loads with tarps.
22.Taxi service	Local subway workers go on strike
23.Bike helmets	The price of bicycles goes down
24.melons	The cost of water goes up.
25. Lucernemilk	The price of Safeway milk goes down.
26. jellybeans	The price of jellybeans goes up.
27.Oreo cookies	The price of milk increases.
28.Burger King whoppers	McDonald's lowers the price of Big Macs.
29. Hot dogs	60 Minutes does an expose called "The Truth about Hot Dogs."
30.Hot dog buns	The price of flour rises
31. butter	Mad Cow Disease wipes out a lot of dairy cows.
32. candles	An electric company official announces that a computer bug will likely result in power outages.
33. Cowboy boots	Old Navy launches an ad campaign called "Everyone in cowboy boots."

34. Your entry

Its a Small World After All

Here is a great quote about the interrelatedness of the global economy, and it comes not from a famous economist but from someone you all know. 

"Did you ever stop to think that you can’t leave for your job in the morning without being dependent on most of the world? You get up in the morning and go to the bathroom and reach over for the sponge, and that’s handed to you by a Pacific islander. You reach for a bar of soap, and that’s given to you at the hands of a Frenchman. And then you go into the kitchen to drink your coffee for the morning, and that’s poured into your cup by a South American. And maybe you want tea: that’s poured into your cup by a Chinese. Or maybe you’re desirous of having cocoa for breakfast, and that’s poured into your cup by a West African. And then you reach over for your toast, and that’s given to you at the hands of an English-speaking farmer, not to mention the baker. And before you finish eating breakfast in the morning, you’ve depended on more than half the world. This is the way our universe is structured, this is its interrelated quality." Martin Luther King, 1967 

Your assignment this week is to find 5 items that you use in your everyday lives and determine where they are produced. Look on the bottom for the "Made in ..." stamp. 
List the items and the country where they are made. Be creative. You'll be surprised at the journey that some of these common items have made to get into your hands.

Best Blogs for Economics Students

Click on Post title to be taken to list website

Review two blogs from this list of the 100 best blogs for economics students. Make sure they are from different categories, and don't repeat one that someone else has already done. Yes I realize that this means you will have to check the previous posts to see which ones have already been reviewed. The sooner you do this one the easier it will be. Reviews need to include:
1) Content
2) Appearance
3) Ease of Navigation
4) Apparent bias

Once the best ones are taken click here for secondary list