Ch. 4-6 Test is Wednesday (warm-ups due on test day)

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Ch. 4-6 Test is Wednesday (warm-ups due on test day) ECONOMICS: February 14 Warm-up (reading Milton Friedman biography from p. 170) What does Friedman have to say about government interference in the economy? Does he think price ceilings and price floors are good policy? What other economist that we have studied reminds you of his view of G involvement in the economy (Hint: invisible hand)? Learning Target In order to understand the concept of P controls, I will analyze government imposed price ceilings and price floors. I will know I have it when, on a combined supply and demand graph, I can show the market going into disequilibrium as a result of: (1) a price floor creating a surplus; and (2) a price ceiling creating a shortage. See Chapter 6, Lesson 3 Lecture Guide (HO) --P ceilings and P floors: preview video -analyzed through rent controls and the minimum wage Ch. 4-6 Test is Wednesday (warm-ups due on test day)