The Big Ideas: End of Chapter Problem As Nobel prize winner and New York Times columnist Paul Krugman has noted, the field of economics is a lot like the field of medicine: They are fields where knowledge is limited, and where many cures are quite painful, but where regular people care deeply about the issues. What are some other ways that economics and medicine are alike? Alike It is difficult to run randomized experiments. Charlatans offer useless or damaging remedies for problems. There is lots more to learn. Professionals are well-respected. Answer Bank Not alike Person-on-the-street is over-confident about personal knowledge. Practitioners must be licensed.

The Big Ideas: End of Chapter Problem As Nobel prize winner and New York Times columnist Paul Krugman has noted, the field of economics is a lot like the field of medicine: They are fields where knowledge is limited, and where many cures are quite painful, but where regular people care deeply about the issues. What are some other ways that economics and medicine are alike? Alike It is difficult to run randomized experiments. Charlatans offer useless or damaging remedies for problems. There is lots more to learn. Professionals are well-respected. Answer Bank Not alike Person-on-the-street is over-confident about personal knowledge. Practitioners must be licensed.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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