Why are economic models uses for trade-offs and trade, Macroeconomics

Assignment Help:

Why are Economic Models uses for Trade-offs and Trade?

Simplified representations of actuality

a. production possibility frontier

b. comparative advantage

c. circular-flow diagram

Positive economics verses normative economics

While economists agree and why they occasionally disagree.


Related Discussions:- Why are economic models uses for trade-offs and trade

Leakages in multiplier, In real life, the operation of simple multiplier is...

In real life, the operation of simple multiplier is affected by many leakages. Leakages in the multiplier arise out of the following reasons: (1) Saving:  If all the income is sp

SARB, REASONS TO NATIONALISE SARB

REASONS TO NATIONALISE SARB

Explain the facts or economics rate, Explain the facts or economics rate ...

Explain the facts or economics rate Boom: The period leading up to the peak of the cycle when an overheating economy is experiencing high GDP growth and inflationary pressures

Multiplier concept, Ask question difference between static multiplier and d...

Ask question difference between static multiplier and dyanamic multiplier

Functions of commercial bank - granting a loan, Granting a ...

Granting a loan: When commercial banks lend, they create money. This can be explained by extending the hypothetical example of Bank

Lorenz curve, what do we mean when we say export are exogenous and import a...

what do we mean when we say export are exogenous and import are endogeneos?

Consumers become better educated about the products, How can consumers beco...

How can consumers become better educated about the products they are considering for purchase? To what extent do you personally go to acquire the best information available?

Growth from trade in developing nations, Some scholarly papers have shown t...

Some scholarly papers have shown that growth from trade in developing nations can make the country worse. Can this happen? If so, describe the conditions required for this situatio

What are the production elasticities of demand, The following Cobb-Douglas ...

The following Cobb-Douglas production function is used to describe the output generated by a local government maintenance agency. Q = αL β1 K β2 E β3 Where L represents numb

Revealed preference approach, REVEALED PREFERENCE APPROACH The downward...

REVEALED PREFERENCE APPROACH The downward slope of the demand curve was justified on the basis of utility derived by the consumer. But specification of consumer tastes in form

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd