Decision maker''s approach or logic, Macroeconomics

Assignment Help:

Listed here are several examples of bad, or at least questionable, decisions. Evaluate the decision maker's approach or logic. In which of the six decision steps might the decision maker have gone wrong? (a) Mr. and Mrs. A recently bought a house, the very first one they viewed. (b) Firm B has invested five years and $6 million in developing a new product. Even now, it is not clear whether the product can compete profitably in the market. Nonetheless, top management decides to commercialize it so that the development cost will not be wasted. (c) You are traveling on a highway with two traffic lanes in each direction. Usually traffic flows smoothly, but tonight traffic moving in your direction is backed up for half a mile. After crawling for 15 minutes, you reach the source of the tie-up: a mattress is lying on the road, blocking one lane. Like other motorists before you, you shrug and drive on. (d) The sedative thalidomide was withdrawn from drug markets in 1962 only after it was found to be the cause of over 8,000 birth defects worldwide. (An exception was the United States, where the use of thalidomide was severely restricted).


Related Discussions:- Decision maker''s approach or logic

Macro, Over long spans of time, macroeconomies typically grow, but over sho...

Over long spans of time, macroeconomies typically grow, but over short spans there are fluctuations in output and prices known as ____ ?

Agency mortgage-backed securities, This release also states that the Federa...

This release also states that the Federal Reserve is in the process of purchasing $1.25 trillion of agency mortgage-backed securities and about $175 billion of agency debt. Additio

Economic system: protectionism and free trade, why is international trade i...

why is international trade important for South Africa?

Money market with inflation and constant money supply growth, Q. Money mark...

Q. Money market with inflation and constant money supply growth? If π M = π and π e = π, both IS- and LM-curve will be fixed.  Figure: The money market with inflatio

Sons college education, On the day his son was born, a father decided to es...

On the day his son was born, a father decided to establish a fund for his son's college education. The father wants the son to be able to withdraw $4000 from the fund on his 18th b

Unemployment, explain the phillips curve the relationship of inflation and ...

explain the phillips curve the relationship of inflation and unemployment

Fiscal Policy, What are the effects of the fiscal stimulus on the macroecon...

What are the effects of the fiscal stimulus on the macroeconomy

International trade, difference between mercantilism and absolute advantage...

difference between mercantilism and absolute advantage

Explain the economic functions of money - a unit of account, Explain the Ec...

Explain the Economic functions of money - A unit of account In a monetary economy, all prices may be expressed in monetary units which everyone may relate to. Without money,

Nine patients are selected at random, A recent study in NJ showed that 50% ...

A recent study in NJ showed that 50% of all patients will return to the same dentist. Suppose nine patients are selected at random, what is the probability that: (a) exactly five o

Write Your Message!

Captcha
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