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Explain the purposes economists disagree and using models of economics.
Using Models of Economics:
a. Positive economics
b. Normative economics
A forecast is an easy prediction of the future.
There are two major purposes economists disagree:
a. they may disagree about which simplifications to make in a model
b. they may disagree about values
Differentiate between Actual and Potential output. Actual output is that level which economy in fact produces. In contrast, potential output is the aggregate capacity output o
Q. Explain Consumer Price Index? CPI is a price index of a particular basket known as the CPI-basket. CPI-basket comprise essentially all the servicesand goods consumed in a co
a) Summarize the basic tenets of the arguments in this case. b) Do you agree with main tenets of the arguments in the case? Why? Justify your answer with detailed explanations. s
explain the neo-classical theory of trade and show the difference between this and the classical approach, as wellas the similarities
1. Suppose that the supply curve for school-teachers is LS = 20,000 + 350W, and the demand curve for schoolteachers is LD = 100,000 - 150W, where L = the number of teachers and W =
In the long run, imports will most likely be paid for with: a. Aexports. b. The sale of real and financial assets. c. the extension of credit. d. higher domestic unempl
Why and how does free trade help the U.S. economy? How might free trade hurt the U.S. economy?
You win a lottery. You have the choice of two ways to be paid. If you pick Payout Scheme X, you get $2,750 today. If you pick Payout Scheme Y, you get three payments: $1,000 today,
What are the best criteria to select peers for a country ?
if we impose any rule and regulation on clasical model like not expoit polutionso what is effect on factor of clasical model
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