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February 22, 2018 

AmosWEB means Economics with a Touch of Whimsy!

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PERFECTLY INELASTIC: An elasticity alternative in which changes in price do NOT cause any change in quantity. In other words, quantity is totally, completely unresponsive to price. Quantity just does not change, regardless of changes in price. Perfectly inelastic should be compared with other elasticity alternatives--perfectly elastic, relatively elastic, relatively inelastic, and unit elastic.

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BLACK DISMALAPOD
Your compete MICRO*scope for today

You are the type of person who has worries and troubles that make others scatter for shelter. Family and friends expect to see your mug shot at the post office. Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for door-to-door salesmen. You should consider shopping at stores or businesses beginning with the letter I, but do not buy any products with a serial number or product code containing the number 706037. Your preferred shopping venue is convenience stores. Your special symbol is the pound sign (#).


Is this You?

As a Black Dismalapod, you tend to be grumpy and gloomy, morose and melancholy, and often downcast and disgruntled. You don't really trust others and expect only the worst from them. You are seldom disappointed. You tend to spend a lot of time by yourself. Sadly, you recognize that you are destined to come up on the short end of any economic transaction.


This isn't me! What am I?
AMERICAN ECONOMIC ASSOCIATION

A formal organization of professional economists that promotes economic research, organizes annual meetings and conferences, and maintains a list of publications in several economics subjects. The American Economic Association (AEA) was originally organized by a small group interested in economics at a meeting in 1888 in Saratoga, New York. However, as interest in the subject grew, it officially incorporated in 1923. Although the AEA contained only a small number of members in the beginning, today the membership is approximately 18,000. In addition, about 4,600 libraries, institutions, and firms subscribe to the quarterly publications of the AEA.

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An Altogether Look at UNIONS

Hey, look! Is that who I think it is? Yes of course, that's Dan Dreiling the drywall guy. You might recall that Dan repaired a hole in my living room wall back in Fact 7. He's coming out of the Mona Mallard Duct Tape Industries plant with all of the duct tape factory workers. And he seems most distressed. Let's get to the bottom of this. Here's his story. The drywall business sort of dried up, and Dan has taken up employment in the exciting field of duct tape fabrication. The duct tape workers, though, are talking union. Dan's indecisive about this move toward unionization. Perhaps we can help him out. Let's stroll around the often controversial topic of labor unions.
Tell me more...

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APLS

The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
"Be willing to have it so. Acceptance of what has happened is the first step to overcoming the consequences of any misfortune."

-- William James, Psychologist

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United States Department of Agriculture
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