What did you learn this week that you didn't know before? Is there anything that's not clear to you? What's confusing to you? Help each other out--use this blog to study together. You can earn a maximum of 10 points for meaningful contributions to this discussion.

You must make at least two comments on your classmates' posts. Your comments cannot simply be "Yes, I agree." or "No". Explain "Why"

The goals of the week is This chapter introduces you to the special case of one seller of a product (a monopolist) hiring labor from one seller of labor (e.g., a union).In broad terms, when you have completed this chapter, you should be able to explain, using a table of data and a graph, how the profit-maximizing (or loss minimizing) number of workers is determined and the wage rate that will be paid. Expected learning outcomes Upon completion of the assignments, you should be able to: 1) Definemonopsonyand give an example of amonopsonist. 2) Explain how a monopsonist determines theprofit-maximizing # of laborers to hire.(Consider what type of market the product being made is sold in.) 3) Contrast theMarginal Factor Cost (MFC)faced by a monopsonist with that of a firm purchasing labor in aperfectly competitivemarket. 4) Define monopsonistic exploitation. 5) Define and explain someunion goals. 6) Explain, graphically and verbally,how unions are able to force wage rates up.

In this week : Introduction In this module, you will learn 1) the economics of income distribution, poverty, and health care in the United States and 2) the microeconomic effects of international trade. In broad terms, when you have completed this module, you should be able to 1) explain the determinants of differences in income, 2) define poverty and explain income maintenance programs, 3) explain the major issues surrounding health care in the U.S. and the economic effects of the health care reform legislation passed by Congress in 2010, and 4) define and contrast the balance of trade and the balance of payments.Expected learning outcomes Upon completion of the assignments, you should be able to: 1) Read and explain a Lorenz Curve. 2) Define and explain somedeterminants of income differences. 3) Explain the meaning of theage-earnings cycle. 4) Explain how the Social Security system is funded and why it is a pure transfer system. 5) Define and explain someincome maintenance programs. 6) Explainwhy health care costs have risen. 7) Explain the meaning of moral hazard in terms of the purchase of health care insurance. 8) Explain somepros and cons of national health care insurance. 9) Explain thedifference in a national health care program and a national health care insurance program. 10) Explain the Productivity Standard. 11) Explain the meaning of thebalance of trade and factors that influence it. 12) Explain the difference between abalance of trade deficitand abalance of trade surplus. 13) Given theexchange ratebetween two currencies, calculate how much of one currency would have to be exchanged for the otherto meet a specified obligation. 14) Given a change in the exchange rate, determine if a currency has appreciated or depreciated and explain the effect on a country'sexports/imports . 15) Explain some factors that could cause the demand and/or supply of a currency to change. 16) Use asupply/demand graphto determine anexchange ratebetween two currencies.