a good theory or model nat is an economic theory or model? What constitutes a "good" economic theory or model?

Q: Refer to Figure 3-1. The rate of trade-off between producing chairs and producing couches is…

A: Let us define the concept of opportunity cost. Opportunity cost theory states that the cost of a…

Q: (Trade Restrictions) Suppose that the world price for steel is below the U.S. domestic price, but…

A: When a country wants to restrict its imports of foreign goods it can use two devices: Tariffs…

Q: I typed it in, it's wrong

A: Elasticity of demand is a concept used in economics to measure the responsiveness of the quantity…

Q: Part 4 and 5 of the question please.

A:

Q: i need help with the chart

A: The amount of interest one would be paying every month is known as a monthly interest rate. This…

Q: An equation for Aggregate Expenditure is: AE = $3600 0.8Y, In equilibrium, Income 'Y' = Aggregate…

A: Given:

Q: Where do you get the number 11?

A: Given, Marginal propensity to save (mps)=0.2 Marginal propensity to import (mpm)=0.1 Marginal income…

Q: what is the most important concept in satisfying needs and wants

A: A need is anything which is a basic necessity and is required to live. On the other hand, wants are…

Q: The meaning of Symbolism

A: Symbolism refers to the use of symbols to represent ideas and qualities, by using symbolic meanings…

Q: Please pass question on to someone with more knowledge. I do not like using up my questions for…

A: The procedure followed is correct only. This is how it is done. There is only a calculation mistake.…

Q: Why do people share content via social media channels? They find it interesting and/or entertaining.…

A: The question is asking about the motivations behind why individuals share content on social media…

Q: Could you please help me with question d, e, f and g. The answers please.

A: According to the Solow model, economies eventually reach their steady state and the only way to…

Q: Question 2: Assume that apples are produced in a perfectly competitive market. Columbia's Orchard is…

A: a. In a competitive market the demand curve is the fixed at market price. That is, the price line is…

Q: What can socilety do about fake new?

A: To find : How society deals with fake news

Q: It tells me these are not correct either

A: The internal growth rate is a financial metric that represents the maximum rate at which a company…