The error in the behavior.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 8, Problem 1DQ

To determine

The error in the behavior.

Expert Solution & Answer

Explanation of Solution

Here, the individual desires and enjoys to be committed to the stupid things which leads towards heavy debts. If the actions have unforeseen consequences, we could have categorized them under the errors. But since, the individual likes to commit such actions and get into the debt issues knowingly, the actions cannot be considered as an error.

Here, even though, the individual does stupid things, he gets the desired results. Thus, they do not result in reducing the chance for the success. Thus, the stupid behavior of an individual does not constitute any systematic errors. Thus, he did not commit any errors.

Economics Concept Introduction

Concept introduction:

Error: According to theeconomists, error is an action which reduces the chance of success for an action.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

What profi is most important in business ?

5. Download the Excel sheet from Brightspace. The data contains the GDP per capita and GNI per capita of OECD member countries in 2014 (both figures are reported in US dollars). The countries are ranked by GDP per capita. a. Compute the ratio of GNI to GDP for each country (GNI per capita/GDP per capita). What does this imply about net factor income from abroad for each country? b. Rank the countries based on the GNI/GDP ratio, starting with the country with the highest ratio and ending with the country with the lowest ratio. Which country has the highest ratio, and which has the lowest? c. Comment on why the countries you identified in the previous question have a large difference between GDP and GNI? What does the difference imply?

3. Answer the following questions about external wealth. a. Home has external wealth of $100 million in period t. In t+1, Home purchases $160 million foreign assets, and Foreign purchases $120 million in Home assets. Assume a world interest rate of 10% per annum. Compute the "change" in external wealth at t+1 for Home. b. A country's external wealth was -$1.5 billion at the end of 2015, and its trade balance was $750 million in 2016. Assume the world interest rate is 5% per annum. What is the "value" of a country's external wealth at the end of 2016?

Answer 2

Question

Chapter 8, Problem 1DQ

To determine

The error in the behavior.

Expert Solution & Answer

Explanation of Solution

Here, the individual desires and enjoys to be committed to the stupid things which leads towards heavy debts. If the actions have unforeseen consequences, we could have categorized them under the errors. But since, the individual likes to commit such actions and get into the debt issues knowingly, the actions cannot be considered as an error.

Here, even though, the individual does stupid things, he gets the desired results. Thus, they do not result in reducing the chance for the success. Thus, the stupid behavior of an individual does not constitute any systematic errors. Thus, he did not commit any errors.

Economics Concept Introduction

Concept introduction:

Error: According to theeconomists, error is an action which reduces the chance of success for an action.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 8, Problem 1DQ

To determine

The error in the behavior.

Expert Solution & Answer

Explanation of Solution

Here, the individual desires and enjoys to be committed to the stupid things which leads towards heavy debts. If the actions have unforeseen consequences, we could have categorized them under the errors. But since, the individual likes to commit such actions and get into the debt issues knowingly, the actions cannot be considered as an error.

Here, even though, the individual does stupid things, he gets the desired results. Thus, they do not result in reducing the chance for the success. Thus, the stupid behavior of an individual does not constitute any systematic errors. Thus, he did not commit any errors.

Economics Concept Introduction

Concept introduction:

Error: According to theeconomists, error is an action which reduces the chance of success for an action.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 8, Problem 1DQ

To determine

The error in the behavior.

Expert Solution & Answer

Explanation of Solution

Here, the individual desires and enjoys to be committed to the stupid things which leads towards heavy debts. If the actions have unforeseen consequences, we could have categorized them under the errors. But since, the individual likes to commit such actions and get into the debt issues knowingly, the actions cannot be considered as an error.

Here, even though, the individual does stupid things, he gets the desired results. Thus, they do not result in reducing the chance for the success. Thus, the stupid behavior of an individual does not constitute any systematic errors. Thus, he did not commit any errors.

Economics Concept Introduction

Concept introduction:

Error: According to theeconomists, error is an action which reduces the chance of success for an action.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 8, Problem 1DQ

To determine

The error in the behavior.

Expert Solution & Answer

Explanation of Solution

Here, the individual desires and enjoys to be committed to the stupid things which leads towards heavy debts. If the actions have unforeseen consequences, we could have categorized them under the errors. But since, the individual likes to commit such actions and get into the debt issues knowingly, the actions cannot be considered as an error.

Here, even though, the individual does stupid things, he gets the desired results. Thus, they do not result in reducing the chance for the success. Thus, the stupid behavior of an individual does not constitute any systematic errors. Thus, he did not commit any errors.

Economics Concept Introduction

Concept introduction:

Error: According to theeconomists, error is an action which reduces the chance of success for an action.

Answer 6

Chapter 8, Problem 1DQ

To determine

The error in the behavior.

Expert Solution & Answer

Explanation of Solution

Here, the individual desires and enjoys to be committed to the stupid things which leads towards heavy debts. If the actions have unforeseen consequences, we could have categorized them under the errors. But since, the individual likes to commit such actions and get into the debt issues knowingly, the actions cannot be considered as an error.

Here, even though, the individual does stupid things, he gets the desired results. Thus, they do not result in reducing the chance for the success. Thus, the stupid behavior of an individual does not constitute any systematic errors. Thus, he did not commit any errors.

Economics Concept Introduction

Concept introduction:

Error: According to theeconomists, error is an action which reduces the chance of success for an action.

Answer 7

Chapter 8, Problem 1DQ

To determine

The error in the behavior.

Answer 8

Expert Solution & Answer

Explanation of Solution

Here, the individual desires and enjoys to be committed to the stupid things which leads towards heavy debts. If the actions have unforeseen consequences, we could have categorized them under the errors. But since, the individual likes to commit such actions and get into the debt issues knowingly, the actions cannot be considered as an error.

Here, even though, the individual does stupid things, he gets the desired results. Thus, they do not result in reducing the chance for the success. Thus, the stupid behavior of an individual does not constitute any systematic errors. Thus, he did not commit any errors.