Verbally and graphically explain labor and loanable funds markets. What happens to interest rates when savers decide to save more? Show graphically.

Economist Roy Cordato notes the relationship between resource markets and product markets to make the economic case against recycling, in this 1995 article.

What are price controls? How are they maintained? Explain, verbally and graphically, price ceilings and price floors.

Define tax incidence. What is the difference between economic incidence and legal incidence?

What must happen for shortages and surpluses to persist?

What socially beneficial results occur when relative prices rise? I.e., what is their effect on consumers and producers? How is this related to Smith's "invisible hand"?

Here is an old news story about someone trying to sell a kidney on eBay.

How is the tax incidence likely to be different for gasoline and Oreo cookies?

What is meant by the incidence of a tax? What conditions would cause sellers to bear the full burden? Explain.

"We should a 20 percent luxury tax on expensive automobiles (those with sales prices of $50,000 or more) in order to collect more revenue from the wealthy." Will the burden fall primarily on the wealthy? Why or why not?