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Explain the purposes economists disagree and using models of economics.
Using Models of Economics:
a. Positive economics
b. Normative economics
A forecast is an easy prediction of the future.
There are two major purposes economists disagree:
a. they may disagree about which simplifications to make in a model
b. they may disagree about values
long run supply curve
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
The economy of Macroland has a balanced budget with fixed government expenditures G = 150 and T = 150. Investment is autonomous: I = 200. The consumption function is the foll
WHO IS JOHN MANYARD KEYNES
inflation of fuel price on consumer
A company is considering two types of water heaters. The associated costs are shown below. The estimated annual cost of operation for oil heaters equals 365 x 41045/EF x Fuel Cost
Because discretionary Income = the money people have left over once they have paid for all of their basic needs (Food, Clothing, Shelter). You could also call it Disposable Inc
Lag Length criteria VAR Lag Order Selection Criteria Endogenous variables: OIL EXCH R RPI LUNEMP GDP
what is a limitation of nation income
let Y denote the number of "heads" that occur when two coins tossed. a) Derive the probability distribution of Y b) Derive the cumulative probability distribution of Y c)
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