Answer an Economics Question and Get Profiled

Test your understanding of economics and receive your “profile” from Alfred Winslow Jones Blogspot. ™


The Federal Reserve’s Open Market Committee released its September 20 meeting minutes today, in which it expressed concern about inflation. The committee said that Hurricane Katrina had added to “already considerable” inflationary pressures.

What is the primary reason that the hurricane has added to inflationary pressures? (Answer and scroll down for your profile.)

A. Business people are unethical and now can price gouge thanks to the cover provided by the hurricane?

B. Demand for labor and materials will increase in the rebuilding effort and all prices will increase because of it?

C. Productive resources were destroyed and productive human capital (know how) has been dislocated and the reduction of productivity will force prices higher?

D. All of the above










If you answered:

A: You are an idiot and a member of Greenpeace (wait, that’s redundant). You wear peace buttons and protest at Davos. You only drink Fair Trade coffee from Starbucks, but you switch cups so your friends will not find out that you patronize a capitalist establishment;

B: You are an economics professor who studied at an elite liberal university in the west. You bow down to the god Keynes, and dream about the day that you get to pull the economy’s levers in the next Democrat President’s Administration. Waiting for the day that the country wakes up and elects a Democrat is your incentive for living. You are also incorrect;

C. Congratulations! Skip graduate school and go straight to New Orleans, get rich, and remember your pal in New Jersey when you’re in Forbes;

D. You are very confused and probably forgot your meds;