Economics 101

So, have you ever had one of those moments when you did something you thought was SO hilarious???? You just had to share??? I had one of those moments this morning - so here is the sharing... And do me a favor - if you DON'T think it's that funny - feel free to NOT tell me!

One of my Facebook friends (Rock Magelby) is "finishing my PhD in Economics at Boston University. I lecture in macroeconomics, money & banking, and business statistics at Boston University." (taken directly from his information on his facebook page.) This morning as his status he posted that today he was

"giving another quiz this morning in class. Please define Economic surplus, Externalities, Elasticity, and Terms of Trade."

I couldn't help myself... I had to define the terms - (the following is my ever so witty response)

Economic surplus: When the economy is relatively good and FOOD is in plentiful supply, the SURPLUS shows up on the waist band and bathroom scale!

Externalities: The most obvious EXTERNAL-ITIES are wider hips, chunkier thighs, increased "jiggle" factor, and an enlarged backside.

Elasticity: the quality necessary in a waistband!!! (you know, to help give place for all that EXTERNAL SURPLUS)...

terms of trade: The most common 'terms of [the] trade" are diet, exercise, "go on a diet," and FAT!

Did I pass? huh huh??? (if you FLUNK me, I'll have to bring in my bathroom scale and my elastic waist band pants, and THEN we'll debate the issue. I'm pretty sure ALL of my definitions are ACCURATE!

* end of comment *

I thought I was a RIOT!

A little while ago Rock posted the following response - "Jeri, I'm going to have to reevaluate my syllabus in light of your outstanding answers."

Look out Boston U!!! I'm sensing a shake up in the economics course!