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    PEER-TO-PEER ECONOMIC CONCEPTS! VIDEO CONTEST

    Here is your chance to change the way students learn. Get creative! In your video, show us your understanding of one of the following Principles of Economics concepts:

    Microeconomics

    • Production Possibilities Curve and increasing relative costs
    • Binding Price Controls
    • Producing the optimal amount in the presence of externalities
    • Elasticity and tax burden
    • Diminishing marginal returns
    • Short run and long run average total costs
    • Why is marginal revenue less than Price for a monopolist? 
    • In the short run, why does a firm not knowingly produce at a price below average variable cost? 
    • Prisoners Dilemma 
     

    Macroeconomics

    • What is the difference between comparative advantage and Absolute Advantage?
    • Why is the aggregate demand curve downward sloping?
    • Why is the short run aggregate supply curve upward sloping?
    • What is an expansionary gap?
    • What is a recessionary gap?
    • How would you use monetary policy to combat a recessionary gap?
    • How would you use fiscal policy to combat a recessionary gap?
    • What is the equation of exchange?
    • Why is monetary (and fiscal) policy less effective in dealing with a supply shock than a demand shock?