May 03 2008
Welker’s links for 2008-05-03
Published by Jason Welker at 10:33 pm under Daily Links
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High gas prices = greater demand for small cars. A perfect illustration of the concept of cross-price elasticity of demand. Hat tip to Greg Mankiw
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Five reason Hillary’s gas tax holiday is a BAD idea… from “the Economist” which, mind you, is notoriously anti-tax. If these guys oppose the suspension of the gas tax, it really must be a bad idea!
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The law of diminishing returns is visible in the NBA… too many good players on one team and the “output” from additional stars diminishes. Interesting article. Thanks to student Kevin Chiu for the link!
About the author: Jason Welker teaches International Baccalaureate and Advanced Placement Economics at Zurich International School in Switzerland. In addition to publishing various online resources for economics students and teachers, Jason developed the online version of the Economics course for the IB and is has authored two Economics textbooks: Pearson Baccalaureate’s Economics for the IB Diploma and REA’s AP Macroeconomics Crash Course.
Jason is a native of the Pacific Northwest of the United States, and is a passionate adventurer, who considers himself a skier / mountain biker who teaches Economics in his free time. He and his wife keep a ski chalet in the mountains of Northern Idaho, which now that they live in the Swiss Alps gets far too little use. Read more posts by this authorRelated posts:
