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RATIONAL EXPECTATIONS AND ECONOMIC THEORY :
Much of undergraduate macroeconomic theory is discussed on the assumption that, in the short run, the expectations of economic agents about the future values of macroeconomic variables are given. The rationale for this treatment of expectations in macroeconomic theory can be derived from Keynes' views on the nature of expectations, including his discussion in the General Theory. While Keynes’ views on the nature of uncertainty and expectations form the basis for the writings, of many Post-Keynesian economists, most of modern macroeconomic theory treats uncertainty and expectations in a radically different manner. This latter approach is characterised in economic theory by the assumption that economic agents (households, business firms and government) have rational expectations abc, macroeconomic variables.
what is the indirect utility/
Q. Strength of the multiplier in microeconomics? Multiplier: An initial stimulus to spending (in form of new consumer, business or government purchases) generally results in a
Variability - The extent to which the possible outcomes of uncertain event may vary * Variability: A Scenario - Assume that you are choosing between two part time sales
I don''t really understand how scitovsky contour is formed.
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. Suppose fixed costs increase by $20. How will this affect TFC, TVC, TC, ATC, AVC and MC? Which numbers change and which stay the same?
hi, how much does it cost for you guys to write a 5-6 pages on a article on supply and demand? However, on the 5-6 pages it wont all be writings..i need a few graphs. i would need
sources of oligopory
Suppose that two wage regressions are estimated for native and white workers: Wn = 5.0 + 0.10S Ww = 6.0 + 0.14S Pick a reasonable average level of schooling for white and Native wo
Define the Policies of Education Universal education--particularly universal education of girls--pays a two-fold benefit. Investments are more likely to be productive with a be
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