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Look at a recent copy of a newspaper.
a. What is the top economic news story? With which of the big questions does it deal? (It must deal with at least one of them and might deal with more than one.)
b. What tradeoffs do the news items discuss or imply?
c. Write a brief summary of the news item using the economic vocabulary that you have learned in this chapter and as many as possible of the key terms listed on p. 15 of the text.
discuss and illustrates the following terms with diagrams1.inferior goods.2.normal goods,3.giffen goods
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if the Japanese yen appreciates against the U.S. dollar, do the Japanese businesses gain by a decrease in the dollar price of exports to the United States
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