How statistics lie-unemployment can be good for you

Assignment Help Business Economics
Reference no: EM131164599

In his article, "How Statistics Lie: Unemployment Can be Good for You", Steven Landsburg is arguing that inflation rate calculated simply as rise in price levels is not very informative.

a) Explain the situation in terms of income and substitution effects.

b) Will your answer differ whether the goods are inferior or normal? Explain.

Reference no: EM131164599

Questions Cloud

Discuss how firms incorporate the triple bottom line : In reference to the articles, discuss how firms incorporate the triple bottom line concept into traditional business concerns over profitability
Shock on the equilibrium wages and unemployment : Suppose that an exogenous shocks (lack of demand for example) leads firms to dismiss some of their workers. Carefully discuss the impact of this shock on the equilibrium wages, unemployment, vacancies and the market tightness.
How would you conclusion change for the winter months : How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month
Identify one environmental factor or risk : Identify one environmental factor or risk that affects the decision-making opportunities within your organization. Provide a brief description of the concerns and potential solutions for addressing the concerns or risks. Are there financial requireme..
How statistics lie-unemployment can be good for you : In his article, "How Statistics Lie: Unemployment Can be Good for You", Steven Landsburg is arguing that inflation rate calculated simply as rise in price levels is not very informative. Explain the situation in terms of income and substitution effec..
Develop your own personal vision statement : In your textbook the authors discuss a technique for developing a vision called "Vision as Story-Telling". Use this technique to develop your own personal vision statement
The short-run aggregate supply curve slopes : The short-run aggregate supply (SAS) curve slopes upward because households spend more as their incomes increase. The long-run aggregate supply curve can never shift.
Understanding of our roles as professionals and citizens : Apply knowledge of the liberal arts and/or sciences appropriate to the discipline. Express a well-informed, personal viewpoint and show an understanding of our roles as professionals and citizens
Spain engage in expansive monetary policy : Some countries like Spain engage in expansive monetary policy to stimulate the economy. What was the effect of this policy on the interest rate, the exchange rate and output? Because of this Spain's irresponsible monetary policy, Spain was in risk of..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd