Business, 25.02.2020 04:56 AlaskaAirlines

When forecasting the effect of a change in economic policy, reasonable economists will get different forecasts based on slight differences in their assumptions about utility and production functions. This means that.

Answers: 2

Show answers

Answers

Economics get different forecast based on slight difference in their assumptions about utility and production functions so as to predict future economic condition

Explanation:

Economic forecasting involves the process of predicting the future condition of an economy. By getting different forecast based on slight differences, economics are able to predict future economic condition in relations to utility and production functions based on the information from different sources.

Answer from: xitlalizt83341

Never have two economists agreed about any economic policy and its effects.

Economics is a social science that studies the best way to allocate scarce resources. In economics, every resource is scarce, even the richest person has a certain amount of money, the largest mine has a certain amount of ore and everyone lives by a 24 hour day.

Economists can carry out scientific tests on microeconomic variables, but it is impossible to do it with the whole economy (macroeconomics). There are simply billions of uncontrollable variables in an economy, so a macroeconomics study is impossible. In order to study macroeconomic variables, economists rely on past data and try to formulate theories about what would happen if X happened.

The views of economists also change radically depending on their point of views and the schools that they follow: neoclassicism vs. neo-keynesian.

I will make the same mistake as everyone else that ever studied economics and give my personal opinion, neoclassicism is useless and has never worked and it will never work. There are some good aspects of neoclassicism, like monetary control of the inflation rate, but generally speaking it deals with an imaginary world with circumstances that don't exist. Neoclassicism takes out the human element out of economics, but we live and cannot simply be eliminated from an equation because its easy to do.

On the other hand, neo-keynesian economics rely on personal expectations and more realistic circumstances, e.g. no one will ever accept a pay cut and that even applies to businesses that will not accept lowering their prices. You cannot change human nature, this school is not perfect, but at least is not as disastrous as the first. President Bush believed in neoclassicism and the Great Recession came, Presidents Obama and Trump believe in neo-keynesian economics and the economy is booming. This relationship always repeats itself.

Answer from: Quest

Typically, los inflation is a sign of a healthy economy because it results from a steady rise in demand.

Answer from: Quest

answer is a

explanation:

Another question on Business

Business, 22.06.2019 07:40

Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z

Answers: 3

Answer

Business, 22.06.2019 12:40

Evan company reports net income of $232,000 each year and declares an annual cash dividend of $100,000. the company holds net assets of $2,130,000 on january 1, 2017. on that date, shalina purchases 40 percent of evan's outstanding common stock for $1,066,000, which gives it the ability to significantly influence evan. at the purchase date, the excess of shalina’s cost over its proportionate share of evan’s book value was assigned to goodwill. on december 31, 2019, what is the investment in evan company balance (equity method) in shalina’s financial records?

Answers: 2

Answer

Business, 22.06.2019 19:50

Aproperty title search firm is contemplating using online software to increase its search productivity. currently an average of 40 minutes is needed to do a title search. the researcher cost is $2 per minute. clients are charged a fee of $400. company a's software would reduce the average search time by 10 minutes, at a cost of $3.50 per search. company b's software would reduce the average search time by 12 minutes at a cost of $3.60 per search. which option would have the higher productivity in terms of revenue per dollar of input?

Answers: 1

Answer

Business, 22.06.2019 20:00

Edna gomez is the founder of the restaurant chain good and green. she ensures that the products in her stores are ethically and responsibly sourced. most products are therefore 100 percent organic and all packaging is manufactured from recycled material. also, her company sources ingredients from farms within 100 miles from her locations. edna's belief is that her restaurants should be able to support the community at large. which of the following terms best describes edna gomez? a. headhunter b. category captain c. social entrepreneur d. trade creditor

Answers: 3

Answer

You know the right answer?

When forecasting the effect of a change in economic policy, reasonable economists will get different...

Questions