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Methodological individualism and social science
Describe the following phenomenon from a perspective of methodological individualism and social science.
1. Americans drink coffee; the British drink tea.
2. American women wear skirts and dresses to work; men wear ties and jackets.
3. Young Americans watch basketball; young people elsewhere watch football (a.k.a. “soccer”).
4. People in London ride subways more than do people in Los Angeles.
Starting with the estimated demand function for Chevrolets given in Problem 2, assume that the average value of the independent variables changes to N=225 million, I =$12,000, P= $10,000 P= 100 cents, A=$250,000 and P=O
Today, the Federal Reserve announced that it is reducing the discount rate by 0.5%. How would you expect this announcement to affect the value of your bond?
Vera is an impoverished graduate student who has only $100 a month to spend on fodd. She has read in a government publication that she can assure an adequate diet by eating only peanut butter and carrots in the fixed ratio
Consider the relationship given by QCars = 100 + 4xPCars - 2xPSteel - 0.2xPWorkers, where QCars is the quantity of cars (in thousands), PCars is the price of cars and PWorkers is the wage earned by autoworkers.
Assume that the unemployment profits provided through the private sector are raised permanently,
As low-carb diets increased in popularity, egg prices rose sharply. How might this affect the monks’ supply of cookies or private retreats? (See the Case in Point on the Monks of St. Benedict’s.)
Discuss how is the liquidity money (LM) curve derived and determine what impacts it and how does it impact the global economy? Provide examples and support your claims.
A rise in the price of coffee beans, which is a material for a cup of coffee, is responsible for these observations.
bulls eye department store specializes in the sales of discounted clothing shoes household items etc. similar to the
the preferences of a consumer are represented by the utility function u x 2y12a in the initial situation the prices
According to the computer industry what are positive and negative effects of either a sudden increase or decrease in the number of competitors on prices in long run.
What is meant by stagflation. What economic circumstances might lead to a period of stagflation. In terms of the AD/AS model and/or the Phillips curve model, explain what is necessary to end a period of stagflation.
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