Optional Homework/Remediation Assignments

You may complete one (or all) of the following assignments prior to a quiz/test for ONE optional
homework grade for each standard. ​Please note that if these assignments are required due to
absences, then they cannot also count as a homework grade.​ Please do homework
assignments that help you the most. The following are my suggestions:
1. If you have difficulty with the concepts, I would first watch the video links. Then, read the
textbook, if needed.
2. If you are unsure about how to apply the concepts, I would do the activities/book
questions.
3. If you understand the concepts and how to apply them, but you have difficulty with
multiple choice, then I would do the Albert.io/Shmoop assignments or other assignments
labelled as “MC”
When you turn in the assignment, make sure that you label it with the standard number and the
number of the option that you chose.

There are also enrichment assignments. Please only do these if you have a firm grasp on the
concepts.

Standard 1: Scarcity Optional Homework Assignments

1. If not viewed in class (which it was Fall 2017), watch this ​Crash Course Intro to
Economics Video
2. Read and briefly outline module 1 in textbook and complete Check your understanding 1
and 2; Multiple Choice 1, 2, 3, 5--check your answers (in the back of the book), grade
with a grading pen
3. Albert.io problems--TBA
4. Watch this video--​Crash Course Economic Systems ​and outline it.
Enrichment--
1. Read ​10 Principles of Economics​ and summarize/outline
2. Read either this article from ​Vox ​and/or this article from ​The National Review​ about the
socialist and capitalist debate. Let me know what you think. This is informal. Read it,
write up a short summary, and tell me what you think about it.

Standard 2: Production Possibilities Curve/Frontier

1. Read and briefly outline module 3; do questions--Check your understanding #1, MC 1-5,
FRQ #2; check your answers (in the back of the book), grade with a grading pen. Ask
me questions about answers that you did not understand.
2. Albert.io problems--TBA
3. Watch these videos ​PPC1​ ​PPC2​. Take notes.
4. Work ​this activity. ​Grade with ​key​ (ppc_comp_key) in a different ink pen. Ask me
questions about answers that you did not understand.
5. Card--Get a sheet of cardstock from Mrs. Powell
○ 1st graph—draw a PPC with constant opp. costs, use numbers
 ○ 2nd graph—draw a PPC with increasing opp. costs (make sure that they are actually
increasing)—use numbers
○ 3rd graph—Label and discuss the following points—attainable but inefficient, efficient
(productive vs. allocative), unattainable (no numbers needed)
○ 4th graph—Show an inward shift and an outward shift, label them, and discuss out to the
side (no numbers needed)

Standard 3: Comparative Advantage

1. Watch the following ​video ​ and take notes, make sure that notes contain all of the
worked problems

2. Card--on a sheet of cardstock--​ Create an output problem--

1. Draw a PPC graph for two countries (straight line is easier) like in the notes.
2. Create and fill out a table that corresponds with the numbers on the graph.
3. State who has the ABSOLUTE advantage for each good and why.
4. Compute the opportunity cost for each actor and each good. State who has COMPARATIVE
advantage for each good and why.
5. Ask and answer one question about terms of trade

3. Albert IO questions TBA

4. Read and briefly outline Module 4 of textbook--​Check your understand #1 parts a and b
only. MC 1-5; Grade them in a different color. The answers are in the back.
5. Work any two of the following FRQs. Grade them in pen, and explain your mistakes.
a. ​2008 #3​ and​ grade it
b. 2003 B #2​ and ​grade it
c. 2004 B #3​ and ​grade it
d. 2016 #3​ and ​grade it
e. 2015 #2​ and ​grade it
f. 2003 #3​ and ​grade it

Standard 4: Supply and Demand

1. Watch the following videos and take notes
○ Demand
○ Supply
○ Demand and Supply
○ More supply and demand
2. If you are having trouble with demand and supply and want some practice with a shift vs. a
movement. The​ optional worksheets in the Drive folder ​are good. You only have to do Activity
3 Part A and Activity 5 Part A, but you may want to look at the answers for the other activities,
as we have done them in class.
3. Albert.io problems--TBA
4. Read through Modules 5, 6, and 7--skip anything that discusses shortages, surpluses, or
double shifts; work the following book questions, grade answers in the back of the book
○ Module 5--Check your understanding (already did in class, but good to look at
again), MC 1-5
○ Module 6--Check your understanding #1 only, MC (skip number 2)
○ Module 7--Check your understanding #2 only, MC 1-5

5. Card--Front Demand, Back Supply

Demand
1. Draw a demand and supply graph for a product. (You make up the product--not pizza or
ice cream from the notes)
2. State the 3 reasons for the downsloping demand curve and how the law of demand
(movement along the curve) is different than a change in demand.
3. Show an increase in demand in one color and a decrease in demand in another color.
State which color is which out to the side.
4. List and give an example (related to your product) of each of the 5 determinants of
demand
Supply
1. Draw a demand and supply graph for a product.
2. State the reason for the upsloping supply curve (why do producers what to produce more
at higher prices?) How is this (law of supply/movement along the supply curve) different
than a change in supply?
3. Show an increase in supply in one color and a decrease in supply in another color. State
which color is which out to the side.
4. List the 6 determinants of supply and give a scenario for each as it relates to the product.

Standard 5: Double Shifts and Disequilibrium

1. Videos--Watch and take notes
○ Double Shifts
○ Price Ceilings and Floors
2. Card Double Shifts--Front and Price Floors and Price Ceilings on back
​Double Shifts
1. Draw a demand and supply graph for an example product
2. Give two scenarios for the same product—one that will shift demand and one that will
shift supply. Show the shifts on the card. Label the new equilibrium
3. Tell me what happened to price and quantity
Price Ceiling and Price Floor
1. Draw two separate graphs(one that would show an effective price ceiling and one that
would show an effective price floor)
2. Put a few numbers on the price and quantity axes
3. Show a calculation of a surplus OR a shortage
4. State the amount sold if there is a price ceiling OR price floor
 5. Ask and answer a question requiring the reader to understand that ineffective price floors
and ceilings will bear the market price/quantity

Unit 2: Economic Indicators

Standard 6: Models
1. Watch the following videos and take notes
a. Business Cycles
b. Circular Flow
2. Read and outline Module 10 and answer the check your understanding and the
MC. Read and outline Module 2--only pages 10-13 and answer Check your
understanding #1 and MC #1

Standard 7: GDP
1. Watch the following videos about GDP and take notes. Make sure to show all
worked problems
a. Included vs. Excluded
b. Income vs. Expenditure Approach
c. Nominal vs. Real
d. Nominal vs. Real
e. Criticism of using GDP as a measure of well-being
2. Read and outline Module 11 (disregard chain-linking on page 115) MC 1-5 and
FRQ #2 (Problem--there aren't many questions that have you find real if given
nominal and the price index, so we'll practice this in class)
3. Do parts a and b of​ FRQ # 3 2008 Form B​ and ​Grade
4. Do parts a and b of ​FRQ #3 2011 Form B ​and ​Grade​ (only 2nd period can do
this one for credit b/c due to the drill, this is the only class that did NOT get this
practice)
5. Do the back page of the practice problems. The key is in the Standard 7 folder.
Grade your work, and ask me questions (if needed).

Standard 8: Unemployment
1. Watch the following videos about unemployment and take notes. Make sure to
show all worked problems.
 a. Types of Unemployment Video
b. Calculating Unemployment and Labor Force Participation Rates
2. Read and outline Module
3. Work 20 problems on Albert.io on unemployment rates. I can tell which problems
that you work, but you will need to submit a piece of paper to the box stating that
you completed them. Otherwise, I will not look.

Standard 9: Inflation
1. Watch the following videos about measuring inflation, making sure to take notes
and work all problems.
a. Mr. Clifford​ Inflation
b. Who benefits and who loses from unanticipated inflation
2. Read and outline Modules 14 (skipping 136 and 137) and 15. Do the following
problems and check your answers in the back of the book. Pg. #140-141 Check
your understanding # 2, MC--1 and 2, FRQ #2; pgs. 147-148 Check your
understanding numbers 2 and 3, MC--1-5
3. Do 20 problems about inflation on albert.io

Unit 3 Test Remediation Assignments

If you scored a “1” or a “2” on a standard, then you must do at least one of the following
remediation assignments AND correct your mistakes. If you made a “3” on a particular
standard, then you must do the corrections, and you MAY do an assignment below.

Overall--Unit 3--If you scored “3s” and “4s” on most standards, then it may be helpful to watch
the ​this video​. Take notes, and I’ll give you some credit. If there are things that you don’t
understand, write down your questions. We’ll review Unit 3 on Friday, as some of our students
will be out for Beta. If you are going to Beta, please come to a remediation session to ask.

Standard 10: AD/SRAS

1. Watch the following videos. Take notes. Write down any questions that you still have to
ask on Friday.
a. Aggregate Demand
b. Aggregate Supply
c. Cost push vs. Demand Pull inflation

Standard 11: LRAS

1. Watch the following videos. Take notes. Write down any questions that you still have to
ask on Friday.
a. LRAS
b. AD/AS Practice with Long Run
 c. LR Growth

Standard 12: Fiscal Policy

1. Watch the following videos. Take notes. Write down any questions that you still have to
ask on Friday.
a. Discretionary vs. Automatic Fiscal Policy
b. Spending Multiplier
c. Multiplier Practice

Unit 1 Review
1. Clifford Multiple Choice Video Unit 1
a. You must do the problems. Grade it and take notes.

Unit 2 Review
1. Clifford Multiple Choice Video Unit 2​ ​Part 2
a. You must do both parts. Do the problems before he works them. Grade it and
take notes.