When we talk about Hayek as an economist, how should we value his ideas and theories? Are his and his followers' theories really be like: no government intervention and totally economic freedom? How could this be feasible? If not, what are the values of his ideas to the current world?

Q: What are the things that we can learned from Adam Smith's Wealth of Nation that related to modern…

A: Adam Smith is known as father of economics who gives a lot of theories related to economics which…

Q: Normative economic statements MUST a. be precise b. quantify data c. have no bias d. be objective e.…

A: The economics is the study of individual behavior and how they allocate the goods and services…

Q: G3

A: It is a bunch of principles and ideas which explains the functioning of the economy or various…

Q: Is economics a science? Why, or why not?

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A: When talking about econometrics, it can be said that it is the significant part of economics that is…

Q: Compare and contrast Neoclassical and Islamic economics views of economists.

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A:

Q: Describe briefly: What is "value" for economists?

A: Economists are those who have knowledge about economics. They study the way an economy works and…

Q: Discuss the Pretence-of-Knowledge problem in economics and to what extent its neglect may cause harm…

A: Friedrich A. Hayek, an Austrian-British economist, expressed concern that viewing economics as a…

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A: Social Scientist is a person who is an expert in the study of society and analyses the social…

Q: What is a positive statement? What is a normative statement? What is the difference between positive…

A: Positive statement talks about factual phenomenon while the normative statements are advisory in…

Q: hat is a basic definition of per diems? what are the pros and cons of per diems?

A: Per diems: It refers to the expenses and it is a Latin expression that signifies "for every day."…

Q: What are the three main goals of macroeconomics?

A: Macroeconomics The study of how the market, the economy as a whole, and other systems function on a…

Q: U7

A: The macroeconomic health of an economy can be identified by examining the three main goals of…

Q: According to Professor Becker, by how much would cigarette prices have to rise to get a 20 percent…

A:

Q: Can yo help me with easy words. Is economics a science? Why? Definitions of “science” and…

A: Yes economics is a science.It is a social science that studies human behavior related to resources…

Q: the father of classical school of economics was Adam Smith? a. True b. False

A: Adam Smith is considered the father of Classical economics, he had written “The Wealth of Nations”…

Q: Who is generally regarded as the founder of the 'Classical School'? David Ricardo

A: To find : Founder of classical school.

Q: Using a suitably labeled diagram, discuss the underlying relationship between the Economics System…

A: An economic system refers to a usual mechanism used by communities or governments to coordinate and…

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A: Statement 4 is the correct answer that many economists emphasized the importance of knowing how…

Q: c the impact of a war in the Middle East on the rate of inflation in the United States

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Q: What is economics and why is it a relevant subject?

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Q: Who did Milton Friedman advise with his economic theory?

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Q: Should we embrace the economic model of nature? The non-economic model? A combination of both?

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Q: True or False?

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Q: What are the four main elements of macroeconomics

A: Macroeconomics is the broader study in the field of economics which mainly deals with issues and the…

Q: what are some other things that the Coke employees who sold the secret recipe to Pepsi should have…

A: Economist always make decisions under rationality. Because rationality gives them better choice and…

Q: sekect one answer. 1. Which of the following statements about the Affluent Society era is false? a.…

A: Since you have posted multiple questions , I have solved the first one for you.

Q: Discuss the main contributions of 1 economist that influenced by John Maynard Keynes (Keynesianism,…

A: Joan Violet Robinson was a Keynesian economist who was undoubtedly the only great female economist…

Q: behaviour as a relationship betweeen ends and means whic have alternative uses'?

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Q: Why is it important to be able to distinguish positive from normative statements about economic…

A: Modern economics has usually two standard branches: positive and normative economics. Positive…

Q: Social scientists: want models that loo exactly like the real world O dont like to make predictions…

A: Social scientists look at every element of society, from historical events and achievements to…

Q: How modern macroeconomics is different from traditional macroeconomics?

A: The modern study and analysis of macroeconomics starts with how microeconomics units, consumers and…

Q: If you were the Prime Minister of the country, would you be more interested in your economic…

A: An economic advisor is a professional who gives master guidance on economic issues. This job can be…

Q: Why is it important for a good economic model tomake clear assumptions?

A: An economic model is a simplified and systematic framework that is used to establish the complex…