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Leon Festinger's social comparison theory suggests that we compare ourselves to members of a reference group in order to assess our own behavior. (a) In thinking about your own tendencies to engage in social comparison, can you identify different reference groups that you use to assess distinct kinds of behavior (e.g., academic performance, athletic performance, etc.)? (b) What does your choice of reference groups tell you about the concept of social comparison?
In the economy of Qonos in 2102 investment was $1,611, GDP was $5,829, government spending was $1,521 and consumption was $1,694. What was Qonos's net exports in 2102?
Describe the tragedy of the commons. What problems are presented by the tragedy of the commons for moral evaluation of technological development? How would you address these problems?
Please describe the actions of the economic actors in the economic circular flow diagram and the physical and monetary transactions that occur in each market of circular flow diagram. What is the circular flow diagram describing?
q1. assume that with 400 patients per year the safc short-run average fixed costs satc short-run total costs and
As a policy maker wanting to correct effects of gases and particulates emitted by a local power plant what two policies could be used to reduce total amount of emissions.
What is the short term economic benefits and costs associated with the current high federal government budget deficits?
Unemployment occurs even during periods when the economy is growing. An increase in demand will cause the equilibrium price and quantity to rise, ceteris paribus. An increase in wages will shift the supply curve up and to the left. GDP measures under..
Is there anything in what we have studied, that can point us towards an equitable solution to this problem while still protecting the environment we all share? What is that solution?
Power stations emit sulfur dioxide as a waste product. This generates a cost to society that is not paid for by the firm; therefore, pollution is a negative externality of power production. Suppose the U.S. government wants to correct this market fai..
The model of the steady-state rate of unemployment assumes that the size of the labor force is fixed. If the size of the labor force is allowed to vary: please tell me how the job-loss and job-finding processes will differ from the situation when the..
Paper currency is the most easily recognized form of money. How well does paper currency serve the functions of money if we have an inflation rate of 50-percent per year?
The graph shown demonstrates a tax on sellers. Which of the following can be said about the effect of this tax?
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