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ignment
1. There are four methods or tricks for improving your calibrated estimates. Please list all four in your answer â thoroughly.
2. Why is it true that not knowing the exact answer to a question isnât the same as knowing nothing at all about the answer to the question?
3. If you give a range of possible answers (i.e. a lower bound and upper bound within a 90% confidence interval) and then feel like you have no possible way of knowing whether the true or correct value is in that range then what does that say about your aforementioned 90% confidence interval?
4. Why wonât just giving an enormously wide range, virtually guaranteeing the real answer is somewhere within the range, satisfy the conditions for a 90% confidence interval?
5. What good does it do to have ranges of numbers when theyâre not ostensibly easy to work with math-wise?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
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Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
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"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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