Finding relate to economist''s traditional focus, Macroeconomics

Recently, a bank was trying to decide what fee to charge for "expedited payments" - payments that the bank would transmit extra-speedily to enable customers to avoid late fees on cable TV bills, electric bills, and the like. To try to determine what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for expedited payment services that exceeded the maximum fees that they said they were willing to pay. How does the bank's finding relate to economist's traditional focus on what people do, rather than what they say they will do?

 

Posted Date: 3/21/2013 6:36:23 AM | Location : United States







Related Discussions:- Finding relate to economist''s traditional focus, Assignment Help, Ask Question on Finding relate to economist''s traditional focus, Get Answer, Expert's Help, Finding relate to economist''s traditional focus Discussions

Write discussion on Finding relate to economist''s traditional focus
Your posts are moderated
Related Questions
1. Given the following production function: Y = K1/4 L3/4 Find the following: a. Per worker production function. b. Steady-state capital-labor ratio as a function of d and

Including different interest rates with different maturities would complicate the models however it wouldn't buy you very much. Because interest rates with different maturities are

How can we define the real wage as nominal wage We define real wage as nominal wage divided by a price index (typically CPI). In the illustration above, your real wage was 20 i

"Nearly all critics agree that consumers have the most benefits in a perfectly competitive market." Does the above statement apply to microeconomics or macroeconomics? Why? Think a

The United States postal service report 95% of first class mail within the same city is delivered within two days of the time of mailing. Six letters are randomly sent to different

Why is it important to study the internal resources, capabilities, and activities of firms? What insights can be gained?

#qDiscuss the functions of money Illustrate your answeruestion..

If in some country personal consumption expenditures in a specific year are $50 billion, purchases of stocks and bonds are $30 billion, net exports are $-10 billion, government pur

How much does GDP rise in each of the following scenarios: 1. During a recession, the government raises unemploymemnt benefits by $100 million. 2. A new US airline purchases

In general, economists have found that as nations' levels of per capita real Gross Domestic Product (GDP) increase, A. the rate of population growth declines. B. the rate of