Question
In: Economics
The type of economic theory we cover in this course originates from the neoclassical school of...
The type of economic theory we cover in this course originates from the neoclassical school of thought. The origins of this school stem from the work of Alfred Marshall (1842- 1924). Marshall's work set in motion the marginalist revolution in economic thought, and hence the neoclassical school is occasionally referred to as the marginalist school. Explain in your own words the concept of marginal (in the mathematical sense) and how it relates to the economic concepts we've been studying. Why is the concept of marginal so important in the theory of the consumer? (Hint: ∂U ∂X , ∂U ∂Y ).
Solutions
Rahul Sunny answered 7 months agoRelated Solutions
Contrast the neoclassical economic theory with the new economic theories (new endogenous growth theory, new economic...
Contrast the neoclassical economic theory with the new economic
theories (new endogenous growth theory, new economic geography, and
strategic trade theory)? Do the new economic theories reject the
neoclassical economic theory? Substantiate your arguments with real
world case(s) and example(s). ( Explain it in detail)
The neoclassical economic theory basically assumes that a free market is the best way to maximize...
The neoclassical economic theory basically assumes that a free
market is the best way to maximize social welfare. Political
interventions in the market in the form of the instrument proposed
here generally reject representatives of this direction. Market
interventions must always be justified from the perspective of
neoclassical economic theory.
1. What arguments can be used to justify market interventions from
this perspective?
2. To what extent does this apply to the above political
measure?
Purchasing power parity is a neoclassical economic theory that states that the exchange rate between two...
Purchasing power parity is a neoclassical economic theory that
states that the exchange rate between two countries is equal to the
ratio of the currencies' respective purchasing power.
The OECD defines GNP as "an aggregate measure of production
equal to the sum of the gross values added of all resident and
institutional units engaged in production (plus any taxes, and
minus any subsidies, on products not included in the value of their
outputs).”
The gross national income (GNI) is the...
Some economists have argued that the reform of transition countries posed challenges to neoclassical economic theory....
Some economists have argued that the reform of
transition countries posed challenges to neoclassical economic
theory. Agree, Disagree and Why?
formal economic theory and economic anthropology. explain how formal economic theory differs from the economic anthropologists'...
formal economic theory and economic anthropology. explain how
formal economic theory differs from the economic anthropologists'
approach? (how do these approaches look at economics
differently?)
The Classical School of economic thinking is quite different from the Keynesian School. The adherents believe...
The Classical School of economic thinking is quite different
from the Keynesian School. The adherents believe in different roles
for government and have different ideas about what drives an
economy and even what an economy is and how it functions. Explain
the two approaches for the following scenarios (be sure to think of
monetary policy, fiscal policy, effects on the components of GDP,
and incentives people may face):
The economy is in a recession.
The Federal Reserve Board has decided...
In the first three weeks of the course we will examine American economic and business history...
In the first three weeks of the course we will examine American
economic and business history up to 1861. Throughout the course we
will be looking at the concepts of continuity and change. Your
assignment for this paper is as follows ...
Please write a paper that responds to the
following:
Select any two of the following regions considering the time period
from 1607 to 1789 ...
* New England (MA, RI, CT, NH)
* Atlantic (NY, PA, DE, NJ)...
What is the ‘New Neoclassical Synthesis’? How does it differ from early Real Business Cycle Theory?
What is the ‘New Neoclassical Synthesis’? How does it differ
from early Real Business Cycle Theory?
A business school claims that students who complete a 3-month typing course can type a mean...
A business school claims that students who complete a 3-month
typing course can type a mean of more than 1200 words an hour. A
random sample of 25 students who completed this course typed a mean
of 1163 words an hour, with a sample standard deviation of 87
words. Assume that typing speeds for all students who complete this
course have an approximately normal distribution. (a) Using the
critical value method and a significance level of 1%, is there
evidence...
A business school claims that students who complete a 3-month typing course can type a mean...
A business school claims that students who complete a 3-month
typing course can type a mean of more than 1200 words an hour. A
random sample of 25 students who completed this course typed a mean
of 1125 words an hour, with a standard deviation of 85 words.
Assume that typing speeds for all students who complete this course
have an approximately normal distribution. A) Using the P-Value
method and a significance level of 1%, is there evidence to support...
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