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In 2-3 paragraphs respond:
Much has been made of the fact that people don't consistently act with scientific rationality. What is meant byrationality?
Consider the three "systematic mistakes" discussed in your text. It is possible to act irrationally simply because people can be "forgetful, impulsive, confused, emotional, and shortsighted (Mankiw 472)."
What are the costs of making those "systematic mistakes"?
Is it possible to act "irrationally," or is rationality defined by the individual's approach to decision making?
Which of the following industries is most likely closest to achieving perfect price discrimination? Which of the following is an example of a natural monopoly?
President Chavez Venezuela said he is going to not sell oil to the United States. What will happen to the price and quantity of gasoline in the United States?
macroeconomic policy - inflation. unemployment and growth.question for a decade or more macroeconomic policy in
The question related to Economics and mainly Macroeconomics. It is clarify about the problem as suggested by the media about the current account deficit in the US.
The text identified three goals of macroeconomic policy: (i) Minimize unemployment, (ii) Minimize inflation and (iii) Maximize economic growth. Obviously, these goals have elements that conflict with one another. Which do you think we are doing the b..
Joe the Plumber runs a competitive firm. He does 20 works per week, and charges $50 per week. His total cost each week is $1200, of which $300 is Fixed cost. Draw a diagram about his short and long run decision.
Mildred buys 12 DVD's when the price of a DVD is $9, 9 DVD's when the price of a DVD Is $11, and 8 DVDs a month when the price of a DVD is $15.
What is a government budgetdeficit? How does a federal budget deficit affect the economy? Howdoes it affect the level of investment and interest rates? How doesit affect the individual consumer? Give at least three examples inyour response.
Discuss the options available to the government when trying to offset a recession by stimulating the economy. Consider both fiscal and monetary policies. What are the pros and cons of different policy measures.
Principles of Macroeconomics - Business Cycles, Unemployment and Inflation Practice Set Find nominal and real GDP in the current year and in the base year. b) Find GDP deflator and inflation rate in the economy.
If there are 13 million unemployed and a working age population of 160 million, what would the number of employed be to arrive at a labor force participation rate of 64%?
TermCreate an eight- to ten-slide presentation about the uses and limitations of product labeling for public safety. You can use the information from your textbook, as well as information from other reliable sources (Note that unmonitored websites..
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