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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"?
Explain how governments use monetary and fiscal policy to manage the economy and use technology and information resources to research issues in principles of economics.
How would you show what happens with equilibrium income if agents suddenly lose confidence and decide to spend less, even if their income has not changed?
A firm can seek any combination of quality and price it chooses. Thus, it can go with a low quality-low price strategy or use one which combines high quality with a high price. Ideally, of course a high quality and a LOW price will be the most pow..
the wages of players have raised enormously, in particular the salaries of high-quality pitchers.
The government uses policies like student loans and free trade to influence the economy's growth rate. In 600-1200 words, identify at least four policies from the textbook that the government has created to impact economic growth and productivity.
For each of the following pairs of goods, would you expect the cross-elasticity of demand to be positive or negative? Large (in absolute value) or small? Defend your answers:
Write a paper on UNEMPLOYMENT. The paper should be professionally prepared with all graphs computer-generated using relevant data, with the axes labeled.
Economists typically view free and mutually advantageous exchanges as a good thing - in the words of economists, they are "Pareto Improving." However, we may find in the literature on the "morality of market exchange".
Save their domestic industries from facing any competition. It is an unrealistic approach as all the countries endeavor to achieve the same objective.
Decide what sports were like NFL before the introduction of the salary cap?
Make a paper analyzing the current market conditions of the Airline industry including a supply and demand analysis that answers these questions:
What are the main differences among microeconomics and macroeconomics. What factors contributed to making that decision.
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