NEWS 409 Lecture Notes - Lecture 14: Making Money, The Nation, Derivatives Market

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periwinklemammoth360

20 Feb 2019

School

Ball State University

Department

News

Course

NEWS 409

Professor

Natalee Seeley

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Document Summary

In other words, is the person making money off of the work: non-profit use = more likely fair use, making money off the work = less likely fair use. If the answer if yes = more likely fair use. If the answer is yes = more likely fair use. If the answer is yes = more likely fair use: transformative. The use of someone"s copyrighted work may be considered transformative, if: It takes on a new meaning or has a further purpose than the original. If it is considered substantially different from the original. If a court decides the use of the copyrighted work is transformative, this works in the defendant"s favor. Fair use: campbell v. acuff rose music (1994) Campbell v. acuff-rose music (1994: unanimous decision = use of pretty woman by 2 live crew is fair use. Yes, 2 live crew did make money of the use of the copyrighted song.

Related Questions

Grade inflation Gone Wild - sTUarTrojsTaCzer

A bout six years ago, I was sitting in the student union of a small liberal arts college when I saw a graph on the cover of the student newspaper that showed the history of grades given at that institution in the past 30 years.

Grades were up. Way up.

I am a scientist by training and I love numbers. So when I looked at that graph, I wondered, How many colleges and universities have
data like this that I can find? The answer is that a lot of schools have data like this hidden somewhere. Back then, I found more than 80 colleges and universities with data on grades, mostly by poking around the Web. Then I created a website (gradeinflation.com) so that others could find this data. I learned that grades started to shoot up nationwide in the 1960s, levelled off in the 1970s, and then started rising again in the 1980s. Private schools had much higher grades than public schools, but virtually everyone was experiencing grade inflation.

What about today?

Grades continue to go up regardless of the quality of education. At a time when many are raising questions about the quality of U.S. higher education, the average GPA at public schools is 3.0, with many flagship state schools having average GPAs higher than 3.2. At a private college, the average is now 3.3. At some schools, it tops 3.5 and even 3.6. A is average at those schools! At elite Brown University, two-thirds of all letter grades given are now A's.

These changes in grading have had a profound influence on college life and learning. When students walk into a classroom knowing that they can go through the motions and get a B+ or better, that's what they tend to do, give minimal effort. Our college classrooms are filled with students who do not prepare for class. Many studies less than 10 hours a week that's less than half the hours they spent studying 40 years ago. Paradoxically, students are spending more and more money on an education that seems to deliver less and less content.
With so few hours filled with learning, boredom sets in and students have to find something to pass the time. Instead of learning, they drink. A recent survey of more than 30,000 first-year students across the country showed that nearly half were spending more hours drinking than they were studying. If we continue along this path, well end up with a generation of poorly educated college graduates who have used their four years principally to develop an addiction to alcohol.

Many say that grade inflation is a complicated issue with no easy fix. But there are solutions. At about the same time that I started to collect data on rising grades, Princeton University began to do something about its grade-inflation problem. Its guidelines have the effect of now limiting A's on average to 35 per cent of students in a class. Those guidelines have worked. Grades are going back down at Princeton and academic rigour is making a comeback. A similar successful effort has taken place at Wellesley College in Massachusetts. And through a concerted effort on the part of faculty and leadership, grades at Reed College in Oregon have stayed essentially constant for 20 years.

Princeton, Wellesley, and Reed provide evidence that the effort to keep grade inflation in check is not impossible. This effort takes two major steps. First, school officials must admit that there is a problem. Then they must implement policies or guidelines that truly restore excellence.

I asked Dean Nancy Malkiel at Princeton why so few schools seem to be following Princeton's lead. Because its hard work, she answered. Because you have to persuade the faculty that its important to do the work.

Making a switch will take hard work, but the effort is worthwhile. The alternative is a student body that barely studies and drinks out of boredom. That's not acceptable. Colleges and universities must roll up their sleeves, bring down inflated grades, and encourage real learning. It's not an impossible task. There are successful examples that can be followed. I am looking forward to the day when we can return to being proud of the education that our nation's colleges and universities provide.

Analyze Stuart Rojstaczer's argument in Grade Inflation Gone Wild, addressing the following questions:
What evidence does Rojstaczer use to indicate that there is a problem?
How would you characterize this evidence (for example, scientific, anecdotal), and to what extent are you persuaded by the evidence he provides to suggest that grade inflation has a profound effect on life and learning?
To what extent does he persuade you that a change in policy is
necessary or that such a change would make a difference?

goldporcupine700

Need help revising, and recommendation for a conclusion.

Throughout this paper is my understanding of what I have learned in class chapters 1-4, expressing my understanding and opinions. Economics is the study of how we deal with scarce resources. Microeconomics specially deals with business in the home country exclusively. This type of economics affects small businesses in the home country only. On the other hand, macroeconomics concerns our national welfare concerning trade and international business.

I believe that many things affect our economy on a microeconomics level. Things such as our understanding of our country in reflection to the world are very important. That is why we study ourselves before we study the macroeconomic principle of the world. Understanding ourselves is what microeconomics teaches us. Working from the inside out. The world is a place where there are differences in our wants and what we get. That is what makes items scarce. That is what positive economics is. Positive economics deals with what is and what we have. The other type of economics is called normative statements. This deals with what we should receive instead of what is and deserved to some extent. It's our scarce resources that determine our allocation of resources and how we use our resources and time. This is where opportunity costs come in, giving up something to do something. A successful business or country never ignores opportunity costs. We must ensure that we have a comparative advantage instead of the absolute advantage. Our resources must be used to achieve maximum output. Comparative is met when we have fewer opportunity costs to make some certain products than the other person or entity.

My initial understanding was scarcity was oil potentially running out, but we have so much of it that you can always find more with techniques such as fracking. Now it's obvious to me, one of our most scarce resources is time. You cannot avoid the 8,760 hours in a year. I understand that people have unlimited wants but limited resources. Everything has a cost and we must make a choice as we don't have unlimited farms, factories workers, etc. scarcity forces choices and this ties in with opportunity cost, for every gun made, a theft from the hungry is made. The opportunity cost not being used to feed the poor, but to make guns. And I find it easy to understand no one can have everything choices must be made on benefits. If I'm going to school, imp giving up making cash, as I'm giving up money for an education, I value education more. Scarcity is also related to the invisible hand. As it's an achievement that leads free markets and capitalism through competition for scarce resources.

My understanding of the invisible hand is a person neither intends to promote public interest and does not know how much he is promoting it. Only intending on his own gain. Without being his intention a person can be lead by the invisible hand to do good for society by pursuing one's own self-interest. Going into equity and efficiency the invisible hand does ensure both equity and efficiency. People work in their selfish ways to maximize profit while also contributing to the economy as a whole. It can also be argued that as the invisible hand wants to ensure efficiency, it cannot guarantee efficiency, because it can fail to produce an efficient allocation of resources, which in turn lead to a market failure. It can also be argued that it can't guarantee equity because not everyone gets a fair price. The way I like to remember efficiency is with a real-life example, like a reduction in the number of workers needed to produce a particular good for a particular amount. Equity refers to the ownership interest in an asset, for example, if a person owns a house with a market value of $800,000 and owes $100,000 on the mortgage leaving a $700,000 equity in the home.

It can be predicted that if the price of beef increases - ceteris paribus-the quantity of beef demanded by buys will decrease. In other words, if the price of beef increases, then the quantity of beef increases, then the quantity of beef demanded will decrease because all things have to be equal. In-class lecture thought me all other things remaining the same. Economists use ceteris paribus to determine the effect of a factor when all other factors have been held the same and helps simplify the study and get a more refined data set.

Economists deal with many issues that pertain to assuring that both a countries domestic output is efficient and that there is an effective trade balance. This means that there are a balance and limit on the amount of imports. Also, this means home production must be able to meet export demands. There are many factors that affect the production of goods and their effect on shifting the production possibilities frontier. This involves evaluating every detail including knowing the products and any close substitutes and compliments. It also involves knowing how an action or other external force will affect demand. This is called price elasticity; Substitutes are products that can replace any given product or service. An example of this would be Coke and Pepsi. The presence of substitutes affects price elasticity because if there are other options, then any change to the price or quality of the product will cause a shift of the demand curve. O course, price is a huge reason why the demand for a product decreases or increases yet it doesn't shift the curve because of the price only. This price change will cause a domino effect that will end with the shifting of the demand curve because it will cause an increase or decrease in demand of the substitute good if the price change is either lower or higher respectively. This price change serves as a catalyst that will change people's desire to spend more money on a more expensive product and that will instead choose to buy the substitute good for cheaper or buy more of the desired product. The change in the price of actual products will not shift the demand curve yet the change of the price of substitutes will because it serves to change people's purchasing behavior. On the other hand, compliments serve to boost demand when there is a decrease in price. The use of complementary goods is dependent upon another product. An example of this would be hot dogs and buns. If the price of hotdogs decreases then, conversely, the demand for hot dog buns will increase because of this change in price. In this scenario, the decrease in price will cause a positive shift in the demand curve because of people's desire and willingness to buy more buns. This is an example of a demand shifter. There are a few other demand shifters. The shifters of the demand curve are changes in expectations, disposable income, price of substitute goods and complements, tastes and preferences, and population size and composition. Changes in income affect the demand curve because if income is lower then people tend to save any extra income instead of wasting it. Disposable income is minimized and spending is lower. This also causes people to see a perceived value of things and distinguishing between what is necessary and what is a relative luxury. The lower the income, the higher the saving and avoidance to spend. An example of this would be if someone needs to buy some medication and it is relatively expensive, that doesn't mean that someone won't buy the medication just because it is expensive. It is necessary. Other factors that contribute to spending and demand are having a price ceiling and price floor. Having a price ceiling is a limit on the price of the product this is a government-imposed idea that is meant to protect consumers from unfair pricing and other conditions that may be malicious or obscure. This affects demand because if there is a price ceiling there is a limit on profit on a unit-to-unit basis. The other factor is the price floor. This price floor was created to encourage competition and affect consumers' willingness to pay because sometimes this new price may be higher than the original price. This causes a negative impact on a product that has a less than wanted perceived value. Many factors contribute to economic prosperity and certainly do help assure that information is analyzed and implemented into an economic and business plan.

limejellyfish231

""Please give answer with simple explaination""""Please give answer with simple explaination""""Please give answer with simple explaination""

1. In every society, choices must be made because resources are

a. Infinite, but economic want are finite

b. Finite, but economic wants are insatiable

c. Unlimited, but economic wants limited

d. Limited, and so are economic wants

2. Which question is an illustration of a microeconomic question

a. Is the quantity of wine purchased in one year dependent upon the price of wine?

b. Does government spending influence the total level of employment in the economy?

c. Is the purchasing power of the dollar higher or lower today than it was in 2000?

d. Is capitalism superior to socialism?

3. The purpose of the ceteris paribus assumption used in economic analysis is to :

a. Avoid making normative statements

b. A void the post hoc, ergo propter hoc fallacy

c. Make sure that all relevant factors are considered

d. Restrict the analysis to effect of a single economic factor

4. The profit motive is

a. Ineffective at producing consumer goods

b. Inherently beneficial to society if left alone to pursue its own self interests

c. Effective at producing goods when consumption is non-rival or non-excludable

d. Is often at odds with societies interests

5. In the system of central planning

a. There is repaid of the infrastructure

b. There is severe inflation in wholesale and retail prices

c. Economic growth leads to widespread unemployment among workers

d. The outputs of some industries become inputs for other industries

6. The market system communicates changes in supply and demand and elicits appropriate responses from businesses and resource suppliers. This is known as the:

a. Rationing function of prices

b. Guiding function of prices

c. Monetary function of prices

d. Circular flow of income

7. An increase in the quantity of automobiles supplied would be caused by which be caused by which of the following?

a. An increase in the demand for automobiles

b. A decrease in the demand for automobiles

c. Higher prices for steel

d. Higher prices for gasoline

8. All of the following would cause an increase in the demand for private airplanes at a given price, except a:

a. Decrease in interest rates

b. Increase in consumer incomes

c. Decrease in taxes on luxury goods

d. Decrease in the costs of constructing private airplanes

9. In modern economies of mass production,

a. Biological need motivates most consumption

b. The intrinsic value of goods and services motivates mass consumption

c. Affluence makes relative depravation meaningless

d. Invidious comparison motivates much of mass consumption

10. a more equal distribution of income in the United States would result in greater total consumer satisfaction. This statement is based on the concept that:

a. Income inequality is unfair

b. Income inequality is undemocratic

c. Income equality stimulates efficiency

d. Incomes are subject to diminishing marginal utility

11. While command systems suffer from incentive problems, market economies

a. Have no incentive problems

b. Suffer from incentive problems of their own

c. Tend to resolve all problems by their own dynamics

d. Have problems to the degree that there is government interference.

12. What economic concepts can be used to explain the reason that a new car purchased by a consumer and driven off a new car lot decrease in value almost immediately compared with the value of the same make and model of a car still on the new car lot?

a. Positive and negative externalities

b. Liability rules and lawsuits

c. The Coase theorem and moral hazard

d. Asymmetric information and adverse selection

13. Consider a situation where the U.S. Congress wants to place a special tax on private airplanes to increase tax revenue. This tax would only be effective in raising new tax revenues if the price elasticity of:

a. Supply is elastic

b. Supply is inelastic

c. Demand is elastic

d. Demand is inelastic

14. Under what circumstances would you expect economic profits to be zero in a particular industry?

a. During a recession

b. When there is little competition in the industry

c. When the industry is neither expanding nor contracting

d. When the demand for the product being produced is increasing

16. If economic resources are perfectly interchangeable between the two products shown on a production possibilities graph:

a. The economy will always be at full employment

b. More of one product can be produced without producing less fo the other product

c. The production possibilities curve would be straight line

d. The two products are of equal value to the economy

17. Opportunity cost is best defined as:

a. Marginal cost minis marginal benefit

b. The time spent on an economic activity

c. The value of the best foregone alternative

d. The money cost of an economic decision

18. All of the following would affect the position of a country production possibilities curve expect:

a. The quality of labor

b. The level of employment

c. The amount of the capital stock

d. Technological progress

19. The post hoc, ergo propter hoc fallacy consists of:

a. Using an example to a different point

b. Inferring causality from chronological sequence

c. Jumping to conclusions from an inadequate number of cases

d. Arguing for or against the person rather than the position being supported

20. Which is one of the five fundamental question that needs to be answered by economic system

a. What is the rate of unemployment?

b. Who will be the richest person in the economy?

c. What goods and services will be produced?

d. Why are the prices for goods and services so high?

21. The institution of private property is sustained over time by:

a. Competition

b. Bequests

c. Self-interest

d. Free enterprise

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NEWS 409 Lecture Notes - Lecture 14: Making Money, The Nation, Derivatives Market

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