Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Nature of Expectations in Keynes' Theory:
The above discussion on the nature of expectations in Keynes' theory may be summarised as follows:
1) In forming long-term expectations, there exists no basis for inferring an objective probability distribution over future outcomes on the basis of past experience.
2) In forming long-term expectations, decision makers fall back on prevailing conventions. This could, for example, include the convention of using an estimated probability distribution from historical data for forming expectations about the future.
3) Decision makers are however aware that these methods for forming expectations I have evolved as conventions (maybe, because they have been more successful on an average in the past compared to other methods). There is no objective rationale for thinking that they would always form a more accurate basis for judgments about the future.
4) The decision on whether or not to go by these conventional judgments depends on the confidence that decision makers have in these conventions as an adequate I. basis for forming expectations about the future. The state of confidence is a volatile factor. Therefore expectations also become volatile as economic actors go by conventional judgments or discount them.
given that a=(4;2) and b=(5;11)determine the value of x in the following equation b=3x-1/2a
AskPharmaceutical companies can expect to earn large profits from blockbuster drugs (for high blood pressure, depression, ulcers, allergies, sexual dysfunction) while under patent
What is the theory of second best? Prove the theorem with the help of a diagram
economists would predict that if salaries increased for engginieers and decreasded for mba braduates that fewer people would go to graduate school in business and more would go in
I need help finding the future worth given the initial investment, MARR, and profit over a period of time.
The elasticity coefficient is a number measured using price and quantity data to verify how responsive consumers are to changes in the price of a commodity. The elasticity coeffic
Individual Demand * The Individual Demand Curve - Two significant Properties of Demand Curves - 1) The level of utility which can be attained changes while moving along
I would tend to think that a 5% per year goal is more reasonable. Smaller incremental goals always appear to be more attainable, while more radical goals may actually be more diffi
A competitive firm produces output using three fixed factors and one variable factor. The firm’s short-run production function is q = 154x – 5x2, where x is the amount of variable
how to make a stand based on question?
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd