The following are problematic moves by economists in explaining how an economy can work efficiently. (Choose all that apply Believing that a central planner or computer can efficiently manage an economy. ✓ Assuming "perfect information" - I.e., that everyone has the relevant information necessary to make efficient economic decisions. Recognizing that information is dispersed in the minds of everyone in the economy. Using mathematics to model economies.
The following are problematic moves by economists in explaining how an economy can work efficiently. (Choose all that apply Believing that a central planner or computer can efficiently manage an economy. ✓ Assuming "perfect information" - I.e., that everyone has the relevant information necessary to make efficient economic decisions. Recognizing that information is dispersed in the minds of everyone in the economy. Using mathematics to model economies.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 17RQ: Is the economic model of decision-making intended as a literal description of how individuals,...
Related questions
Question
Am. 130.
![The following are problematic moves by economists in explaining how an economy
can work efficiently. (Choose all that apply
Believing that a central planner or computer can efficiently manage an economy.
✓ Assuming "perfect information" - I.e., that everyone has the relevant information necessary
to make efficient economic decisions.
Recognizing that information is dispersed in the minds of everyone in the economy.
Using mathematics to model economies.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4813242c-ef99-4bcf-8e55-5652d0ac39e6%2F878491cc-0117-42b4-9c4f-de3721358f8e%2Foicv5rc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following are problematic moves by economists in explaining how an economy
can work efficiently. (Choose all that apply
Believing that a central planner or computer can efficiently manage an economy.
✓ Assuming "perfect information" - I.e., that everyone has the relevant information necessary
to make efficient economic decisions.
Recognizing that information is dispersed in the minds of everyone in the economy.
Using mathematics to model economies.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Brief Principles of Macroeconomics (MindTap Cours…](https://www.bartleby.com/isbn_cover_images/9781337091985/9781337091985_smallCoverImage.gif)
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Brief Principles of Macroeconomics (MindTap Cours…](https://www.bartleby.com/isbn_cover_images/9781337091985/9781337091985_smallCoverImage.gif)
Brief Principles of Macroeconomics (MindTap Cours…
Economics
ISBN:
9781337091985
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning