Fundamental theorems of welfare economics, Econometrics

1. What are the two roles that prices play in a competitive economy? How are these two roles related to the Fundamental Theorems of Welfare Economics?

2. The Undercover Economist. It is on reserve in the Reserve Reading Room in the Library for Econ 357(01). Provide a summary, based on the analogy in this chapter, for Arrow's [Second Fundamental Theorem of Welfare Economics] resolution of the trade off between efficiency and fairness.

3. Explain the relationship betweenWalras' Law, the use of a numeraire good, and why only relative prices matter.

Posted Date: 3/13/2013 3:48:49 AM | Location : United States







Related Discussions:- Fundamental theorems of welfare economics, Assignment Help, Ask Question on Fundamental theorems of welfare economics, Get Answer, Expert's Help, Fundamental theorems of welfare economics Discussions

Write discussion on Fundamental theorems of welfare economics
Your posts are moderated
Related Questions
a. If 10,000 two-liter bottles of Pepsi are currently being demanded in your community each month, and the price increases from $1.90 to $2.10 per bottle, what will happen to quant

Define Dummy Variable and write its importance in Regression model.

Consider the following short run production function. Q 0 15 35 60 90 115 135 150 16

cost benefit decision invest in college undergraduate 5 years

The equilibrium conditions for three related markets are given by:  (a)Write this system of equations in matrix notation of the form  Ax = B.  (b)  Find the determinant

The following table contains the ACT scores and the GPA (grade point average) for eight college students. Grade point average is based on a four-point scale and has been rounded to

Y1=Y21Y2+Bx+U1 Y2=Y21Y1+U2 First equation is demand and second is supply equation,can first equation be identifiable outline the method

Assume the following table gives the joint PDF (probability distribution function, not Adobe document!!) of two discrete variables, x and Y.                                  Vari

what are the causes,consequences and remedy of measurement error?

#question.Suppose that you have 150 observations on production (yt) and investment (it), and you have estimated the following ADL(3,2) model: (1 – 0.5L – 0.1L2 – 0.05L3)yt = 0.7 +