Econ -Unit 3- Chap 16 Questions

1. True or False and Why?
   
   1. FALSE: Short-run aggregate supply curves reflect a direct relationship between price level and the level of real output. When the price level drops firms will produce less, reducing production and employment as well.
      
   2. FALSE: The long run aggregate supply model does NOT assume that nominal wages are fixed. It measures the changes in nominal wages that occur in response to changes in the price level. It is a determinants of aggregate supply
      
   3. TRUE: In the long run, an increase in the price level will result in an increase in nominal wages. They have a direct relationship
      
2. What do the distinctions between short-run aggregate supply and long-run aggregate supply have in common with the distinction between the short-run Phillips curve and the long-run Phillips curve? Explain.
   

   In a short-run aggregate supply, nominal wages are set (unresponsive to price-level changes) based on the expectation that price level will continue, whereas in the long-run aggregate supply, a rise in price level results in higher nominal wages and shifts the short-run aggregate supply curve to the left (and vice versa). In the short-run Phillips Curve, you assume nominal wages have been set (like the short-run aggregate supply), and you assume that inflation will continue such that it has, and that higher product prices raise business profits. In the long-run Phillips Curve, there is no apparent long-run tradeoff between inflation and unemployment; thus, both the long-run aggregate supply and the long-run Phillips curve are uniform
   

3. What is the Laffer Curve, and how does it relate to supply-side economics? Why is determining the economy's location on the curve so important in assessing tax policy?
   

   The Laffer curve depicts the relationship between tax rates and tax revenues. The Laffer curve shows the effect of taxes on production and work motivation. It shows that to a certain point taxes will help, but past the point it can negatively affect the economy. If tax rates are above m tax revenues will go down along side the incentive to work and produce. So you should where on the Laffer curve you are to know how the taxes are effecting the production rate and what the tax should be ideally to get the most out of it.
   

4. Do oil prices play a smaller role or a larger role in the US economy today than in the 1970's and 1980's? Explain.
   

   They play a smaller role. Before 1980 the oil prices greatly affected core inflation. Since 1980 oil prices have had little effect on core inflation in the US. The effect large energy intensive items pulled away from the amount if affected GDP and smaller items such as software and microchips
   

Physiology -Chap 6- End of Chap Questions

1. Match the Following:
   

   
   

   -3- (a)Space w/in the shaft of the bone that contains yellow bone marrow: Medullary Cavity
   

   -9- (b) Triglyceride storage tissue: Yellow Bone Marrow
   

   -8- (c) Hemopoietic tissue: Red Bone Marrow
   

   -1- (d) Thin layer of hyaline cartilage covering the ends of bones when they form a join: Articular Cartalige
   

   -5- (e) Distal and proximal ends of bones: Epiphyses
   

   -4- (f) The long, cylindrical main portion of the bone the shaft: Diaphysis
   

   -6- (g) in a growing bone, the region that contains the epiphyseal plate: Metaphysis
   

   -7- (h) The though membrane that surrounds the bone surface wherever cartilage is not present: Periosteum
   

   -12- (i) Layer of hyaline cartilage in the area between the shaft and end of a growing bone: Epiphyseal Plate
   

   -2- (j) Membrane lining the medullary cavity: Endosteum
   

   -11- (k) A remnant of the active epiphyseal plate; a sign that the bone has stopped growing in length: Epiphyseal line
   

   -10- (l) Bundles of collagen fibers that attach periosteum to bone: Perforating Fibers
   

   
   

2. Match the Following:
   

   
   

   -12- (a) Small spaces between lamellae that contains osteocytes: Lacune
   

   -13- (b) Perforating canals that penetrate compact bone vessels, carry blood vessels, lymphatic vessels, and nerves from the periosteum: Volkmann's Canals
   

   -8- (c) Areas between osteons: fragments of old osteons
   

   -6- (d) Cells that secrete the components required to build bone: Osteoblasts
   

   -3- (e) Microscopic unit of compact bone tissue: Osteons (Haversian System)
   

   -9- (f) Interconnected, tiny canals filled with extracellular fluid; connect lacunae to each other and to the central canal:
   

   -4- (g) Canals that extend longitudinally through the bone and connect blood vessels and nerves to the osteocytes: Haversian Canals
   

   -10- (h) Large cells derived from monocytes and involved in bone resporption: Osteoclasts
   

   -7- (i) Irregular lattice of thin columns of bone found in spongy tissue
   

   -5- (j) Rings of hard calcified matrix found just beneath the periosteum and in the medullary cavity: Concentric Lamellae
   

   -2- (k) Mature cells that maintain the daily metabolism of bone: Ostocytes
   

   -11- (l) An opening in the shaft of the bone allowing an artery to pass into the bone
   

   -1- (m) Unspecialized stem cells derived from mesenchyme: Osteogenic Cells
   

   
   

3. Match the Following:
   

   
   

   -3- (a) A broken bone in which one end of the fractured bone is driven into the end of other: Impacted Fracture
   

   -7- (b) A condition of porous bones characterized by decreased bone mass and increased susceptibility to fractures: Osteoporosis
   

   -6- (c) Splintered bone, with smaller fragments lying between main fragments: Comminuated Fracture
   

   -1- (d) A broken bone that not break through the skin: Closed Fracture
   

   -4- (e) A partial break in a bone in which one side of the bone is broken and the other side bends: Greenstick Fracture
   

   -2- (f) A broken bone that protrudes through the skin: Open Fracture
   

   -5- (g)Microscopic bone breaks resulting from the inability to withstand repeated stressful impact: Stress Fracture
   

   -9- (h) A degeneration or articular cartilage allowing the bony ends to tough; worsens due to friction between the bone: Osteoarthritis
   

   -8- (i) Condition characterized by failure of new bone formed by remodeling to calcify adults: Osteomalacia
   

   -10- (j) An infection of bone: Osteomyelitis