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Question: What is Adam Smith's invisible hand idea all about? Why is there a spontaneous order that comes out of the pricing system (according to Smith)? Why did Smith think that banking needed to regulated? How does general equilibrium theory support the idea of the invisible hand? What did later researchers (from the 1970's) find out about general equilibrium theory? How are the assumptions in the Arrow-Debreu model inconsistent with reality? Why did Milton Friedman become so famous and his views on economics so popular? What are the implications of stock returns (or any asset) following a normal distribution? Empirically speaking, are stock price changes on one day independent from the next day's stock price changes? Explain The next questions are from the video "Mind Over Money" The main model of consumer behavior assumes that we never buy anything until we've calculated the impact on, for example, our retirement fund, and we're so good at math we use interest rates to compute our pleasure, over time, after buying something. What was Robert Shiller's response to this? What is the "as if" defense used by Eugene Fama and John Cochrane? How did Richard Thaler refute the "as if" defense with pool? What
Sketch and explain in detail the graph of the original market for beef, then show and explain the impact of the pork advertising campaign.
Business fluctuations refer to. the ups and downs in overall business activity measured by changes in national? income, employment and the price level.
Does that mean that when you find that the unemployment rate sharply fell last week that you should buy stocks? Explain your answer.
Maybe more money is not the option, there are people out there that just want to be recognized more or be able to be put into a training program for management
In evaluating the accuracy of their statements, should one distinguish between (i) economist’s descriptive statements, propositions, and predictions about the world, and (ii) their statements about what policies should be adopted. Explain in detail
Assume that a household is choosing how to allocate their income (Y) over the next two years for consumption (C). Assume that Y 2016 = $100,000 and Y2017 = $0 meaning they are going to retire at the beginning of 2017, except to die at the end of 2017..
Equilibrium means the quantity supplied equals quantity demanded. What else does equilibrium mean?
find out an expression for her marginal cost and her average cost per patch of grass as a function of the amount of grass she gets from every patch
What caused the breakup of the single telephone company in the US and what were its consequences was a good or a bad thing?
How does the monetary policy promote the employment, provide stable prices, and long-term interest rates?
Assume that the market wage rate is $150 per day. Illustrate what rule should leadbelly follow to hire the profit-maximizing amount of labor.
If the price of an airline ticket from SFO to LAS were to increase by 20%, from $250 to $300 roundtrip, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Triple Sevens.
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