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1. What are the two roles that prices play in a competitive economy? How are these two roles related to the Fundamental Theorems of Welfare Economics?
2. The Undercover Economist. It is on reserve in the Reserve Reading Room in the Library for Econ 357(01). Provide a summary, based on the analogy in this chapter, for Arrow's [Second Fundamental Theorem of Welfare Economics] resolution of the trade off between efficiency and fairness.
3. Explain the relationship betweenWalras' Law, the use of a numeraire good, and why only relative prices matter.
Show which of the following are cross-section data, giving the reasons. (i) Wages of individual workers in the UK chemical industry in 2009. (ii) Annual growth rates of eve
Ask question #Minimum unions tie the hand of management and inhibit efficient decision making100 words accepted#
You have won a contest and are allowed to choose between two prizes. One option is to receive $200 now and another $200 a year from now. The second option is $150 now and $255 a
What methodology will be suitable to use for a doctoral research proposal thesis(The impact of persistent poverty on rural urban migration in Nigeria)?
goldfield quandt test solution
what are the uses of correlation in economics?
when is an econometric model said to be simple and naive
Problem: a) In what circumstances would you apply switching models? b) Using dummy variables for seasonality show how you would test for January effects in financial data?
Following the general methodology used by econometricians as explained in the session for week 1 (eight steps), explain how you would proceed to determine if a good complies with t
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