Brazil, for example, must choose whether to use its limited health budget to pay full-market price for AIDS drugs; some AIDS victims may live as a result, but people in need of other health care will die, because money that could have been spent on their needs is simply not there. Mor...
1 Economists normally assume that the goal of a firm is to
Explore the Singular Phillips Curve, highlighting ZINSS singularities, cross-equation cancellation errors, and the dynamics of inflation, costs, and output gaps
Many economists userationalityto connote purpose-driven behavior, the objective of which is welfare improvement, which often does – but need not – connote the exact maximization of net welfare gains (gains minus pains) of decisions and actions. Adam Smith seems to adopt this view of the econom...
The spread is a debating tactic where you present a set of supporting arguments so wide and particular your opponents are unable to rebut them all because 1) they have day jobs and 2) they have limited space or time to address them in any particular foru
Why does the short-run aggregate supply curve shift to the right in the long run, following a decrease in aggregate demand? a. Workers and firms adjust their expectations of wages and prices upward and they accept lower wages and prices. b. ...
Comment by Finis Welch(*) The book will interest everyone involved in the minimum wage debates, and it will cause economists to question seriously the models they use and how they do empirical research. Ronald G. Ehrenberg, Cornell Unive... F Welch 被引量: 348发表: 1995年 Is there consens...
Second, Teachout underestimates the ability of businesses to increase supply in the short run. Funnily enough, she talks as if stores arehappyabout their inability to increase supply. She says, “After the disruption, everything goes back to normal—except with a big wealth transfer from the ...
So, I’ve decided to fill that gap. Linked below is a paper where I use a new capacity utilisation-based framework to provide hard, yet optimistic numbers of how far we might push the economy in the spirit of fiscal experimentation. ...
In Economics, private market refers to a perfectly competitive market where the equilibrium is determined through the interaction of supply and demand forces. In these markets, no government regulation exists.Answer and Explanation: The two reasons why the government interven...