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Questions and Answers
The U.S. Constituion has been amended 27 ______.
The U.S. Constituion has been amended 27 ______.
times
To become governor, you must be at least 30 years ______.
To become governor, you must be at least 30 years ______.
old
The presiding officer of the Senate is the Lieutenant ______.
The presiding officer of the Senate is the Lieutenant ______.
governor
The five principles of the MS Constitution of 1890 are rule of law, popular sovereignty, limited government, separation of powers, and checks and ______.
The five principles of the MS Constitution of 1890 are rule of law, popular sovereignty, limited government, separation of powers, and checks and ______.
A qualification to become governor is being a citizen of the U.S. for 20 ______.
A qualification to become governor is being a citizen of the U.S. for 20 ______.
The Mississippi Constitution of 1890 has been amended more than 123 ______.
The Mississippi Constitution of 1890 has been amended more than 123 ______.
Bills can be introduced at any time, except during the last 3 days of a ______.
Bills can be introduced at any time, except during the last 3 days of a ______.
The MS Legislature includes the Senate and the House of ______.
The MS Legislature includes the Senate and the House of ______.
A qualification to become governor is being a resident of the state for at least 5 years immediately before the ______.
A qualification to become governor is being a resident of the state for at least 5 years immediately before the ______.
MS has operated under 4 ______.
MS has operated under 4 ______.
The primary function of a governor is to enforce and administer the laws of the ______.
The primary function of a governor is to enforce and administer the laws of the ______.
The presiding officer of the House of Representatives is the Speaker of the ______.
The presiding officer of the House of Representatives is the Speaker of the ______.
The principle of separation of ______ ensures that no single branch of government becomes too powerful.
The principle of separation of ______ ensures that no single branch of government becomes too powerful.
Popular ______ ensures that the power of government resides in the people.
Popular ______ ensures that the power of government resides in the people.
The principle of limited ______ restricts the power of government to protect individual freedoms.
The principle of limited ______ restricts the power of government to protect individual freedoms.
The 1890 MS Constitution operates on the principle of rule of ______.
The 1890 MS Constitution operates on the principle of rule of ______.
The MS ______ includes both a Senate and a House of Representatives.
The MS ______ includes both a Senate and a House of Representatives.
Checks and ______ are an important feature in government to ensure that no single branch has too much power.
Checks and ______ are an important feature in government to ensure that no single branch has too much power.
Being 30 years old is a ______ for becoming governor.
Being 30 years old is a ______ for becoming governor.
The MS Constitution of 1890 is designed to promote limited ______.
The MS Constitution of 1890 is designed to promote limited ______.
Flashcards
MS Constitutions
MS Constitutions
Mississippi has operated under 4 constitutions.
MS Constitution (1890) Principles
MS Constitution (1890) Principles
The 5 principles are: Rule of law, Popular sovereignty, Limited government, Separation of powers, Checks and balances.
U.S. Constitution Amendments
U.S. Constitution Amendments
The U.S. Constitution has been amended 27 times.
MS Constitution Amendments
MS Constitution Amendments
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Bicameral Legislature
Bicameral Legislature
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Senate Presiding Officer
Senate Presiding Officer
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House Presiding Officer
House Presiding Officer
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Introducing Bills
Introducing Bills
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Governor's Function
Governor's Function
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Gubernatorial Qualifications
Gubernatorial Qualifications
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Study Notes
- Elasticity measures the responsiveness of producers and consumers to changes in market conditions, giving a more precise analysis of supply and demand.
Price Elasticity of Demand
- Price Elasticity of Demand measures how much the quantity demanded of a good responds to a change in its price $$ Price\ Elasticity\ of\ Demand = \frac{Percentage\ change\ in\ Quantity\ Demanded}{Percentage\ change\ in\ Price} $$
Calculating Percentage Changes
- The midpoint formula is used for calculating percentage changes: $$ Percentage\ change = \frac{End\ value - Start\ value}{Midpoint} * 100 $$ $$ Midpoint = \frac{End\ value + Start\ value}{2} $$
Interpreting Price Elasticity
- Demand is elastic if elasticity is greater than one
- Demand is inelastic if elasticity is less than one
- Demand is unit elastic if elasticity equals one
- Demand is perfectly inelastic if elasticity equals zero
- Demand is perfectly elastic if elasticity is infinite
Demand Curves
- Price Elasticity of Demand is related to the demand curve's slope
- Perfectly Inelastic: Elasticity = 0
- Inelastic: Elasticity < 1
- Unit Elastic: Elasticity = 1
- Elastic: Elasticity > 1
- Perfectly Elastic: Elasticity = infinity
Total Revenue
- Total Revenue is the amount paid by buyers and received by sellers $$ Total\ Revenue = Price * Quantity $$
- Price and Total Revenue move in the same direction with inelastic demand
- Price and Total Revenue move in opposite directions with elastic demand
Income Elasticity of Demand
- Income Elasticity of Demand measures how much the quantity demanded of a good responds to a change in consumers' income $$ Income\ Elasticity\ of\ Demand = \frac{Percentage\ change\ in\ Quantity\ Demanded}{Percentage\ change\ in\ Income} $$
- Normal goods have positive income elasticities
- Necessities tend to have small income elasticities
- Luxuries tend to have large income elasticities
- Inferior goods have negative income elasticities
Cross-Price Elasticity of Demand
- Cross-Price Elasticity of Demand measures how much the quantity demanded of one good responds to a change in the price of another good $$ Cross-Price\ Elasticity\ of\ Demand = \frac{Percentage\ change\ in\ Quantity\ Demanded\ of\ Good\ 1}{Percentage\ change\ in\ Price\ of\ Good\ 2} $$
- Substitutes have positive cross-price elasticities
- Complements have negative cross-price elasticities
Price Elasticity of Supply
- Price Elasticity of Supply measures how much the quantity supplied of a good responds to a change in its price. $$ Price\ Elasticity\ of\ Supply = \frac{Percentage\ change\ in\ Quantity\ Supplied}{Percentage\ change\ in\ Price} $$
Supply Curves
- Price elasticity of supply is typically larger in the long run than in the short run, due to firms having more flexibility to adjust quantity supplied over time.
- Perfectly Inelastic: Elasticity = 0
- Inelastic: Elasticity < 1
- Unit Elastic: Elasticity = 1
- Elastic: Elasticity > 1
- Perfectly Elastic: Elasticity = infinity
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