1) Price elasticites of demand, aka slope of demand (see econ review handout) can change, for example based on the current pandemic and how people respond. For example, some goods might become more necessary/inelastic; other goods might become less necessary/more elastic. Discuss at least four current examples of goods that you think might have recently experienced a change in their elasticity of demand. How might the producers of these goods respond? Are these changes likely to last? The videos and ARE Update articles from Week 6 may provide a starting point. 2) Explain the history of trade deals that the United States has been involved in, including the World Trade Organization, NAFTA, and the USMCA. Explain some of the benefits and costs to the United States of each, especially as they relate to agricultural industries. What future changes might be helpful? 3) Income and substitution effects: You can use a diagram to help explain, or just explain in words. Suppose a consumer's income is $1000, split between rent and food. [Other expenses are budgeted separately.] Using income and substitution effects, discuss what might happen if average rents in the consumer's city decrease. Why can't we say for sure how his/her spending might change?