MACROECONOMICS
MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Chapter 19, Problem 3TY
To determine

To describe: The effect on US balance of payments consideringfloating exchange rates.

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Double Trouble and Career Choices It is Sunday afternoon, and you’re attending your twin nephews’ high school graduation party. Your sister, the mom of the twins, brings you a piece of cake and starts venting about the twins, exclaiming, “Could you believe those guys? Jamal wants to go to school to become a musician while Khalil wants to join the National Guard! Like, why don't they do what normal kids do, like attend medical school or business school or become teachers or something so they can land on a good paying job? I don’t get them. They are so irrational, aren’t they?” Then, your sister looked at you and posed the following questions. "Please tell me: Who is more rational in their choice, Jamal or Khalil? Why do you think they made the career choice they did? Why didn’t they choose the same fields of study as their friends, like medicine, education, business, or aviation?"
Double Trouble and Career Choices It is Sunday afternoon, and you’re attending your twin nephews’ high school graduation party. Your sister, the mom of the twins, brings you a piece of cake and starts venting about the twins, exclaiming, “Could you believe those guys? Jamal wants to go to school to become a musician while Khalil wants to join the National Guard! Like, why don't they do what normal kids do, like attend medical school or business school or become teachers or something so they can land on a good paying job? I don’t get them. They are so irrational, aren’t they?” Then, your sister looked at you and posed the following questions. "Please tell me: Who is more rational in their choice, Jamal or Khalil? Why do you think they made the career choice they did? Why didn’t they choose the same fields of study as their friends, like medicine, education, business, or aviation?"
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