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Much has been made of the fact that people don't consistently act with scientific rationality. What is meant by rationality? Consider the three "systematic mistakes" discussed in your text. What are the costs of making those "systematic mistakes"? Is it possible to act "irrationally," or is rationality defined by the individual's approach to decision making?
Comprising an evaluation of the impact of past and current fiscal policies, monetary policies, budget deficits or surpluses on the economy and on the airline industry industry.
The absolute value of coefficient of the price elasticity of demand.
A change in the money supply has no effect on the long run values of the interest rate or real output.
The inspection equipment has a 6-year useful life and no salvage value. Use a nominal 18% interest rate in your calculations. How much can Robot afford to pay for equipment if the wages and worker benefits were to have been paid monthly?
What average annual inflation rate would a monetarist expect if the Fed maintained a growth rate of M2 = 10% per year for a three year period?
A firm has cost function: C(y) = { y^2 + 1 if y > 0, {0 if y = 0, Let p be the price of output. 1) If p = 2, how much will the firm produce? If p = 1, how much will the firm produce? 2) What is the (optimal) profit function of the fir..
Effects on the exchange rate among the British pound and the Japanese yen.
Assume bread is subsidized in a small Caribbean nation with a high percentage of citizens who live in poverty. The subsidy is paid to suppliers of bread through government in amount of 50 pesos per loaf.
Depends on what you perceive as the results of free trade agreements such as NAFTA, would you recommend that President Obama continue on the path.
Explain how does the democratic political system lead politicians to emphasize points outside the production possibility curve.
What is the unemployment rate? What will the unemployment rate be if the unemployed increases to 7 million and 3 million individuals become discouraged workers?
Suppose 10% of all workers are of high ability. If a firm knows a worker's ability, workers of low ability are paid $20,000 and workers of high ability are paid $30,000. Obtaining a university degree can signal high ability, and the cost of degr..
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