What is the difference between a positive statement and a normative statement 1.Define scarcity. Provide examples of goods that are not scarce. 2.How does Adam Smith’s concept of the invisible hand explain why markets move toward equilibrium? Do market participants need to know about the invisible hand for it to function? Explain your answer. 3.What … Read more
The meaning and implications of R-squared and the P-value Discuss the meaning and implications of R-squared and the P-value. What is the meaning of each; how well do they work in determining how well our model predicts the outcome variable? Is the use of these values controversial in any way? How are they sometimes misused? … Read more
Difference between science fiction and modern fantasy 1.Science fiction and modern fantasy have become popular with students. What is the difference between the two? How could science fiction and modern fantasy be used to enhance cross-disciplinary instruction? 2. Picture books frequently use animals as characters. These animal characters often take on human qualities or interact … Read more
Give an example of a positive and a negative externality Microeconomics Questions Answer the questions below must be at least 150 words each 1.Give an example of a positive and a negative externality. Would a Coasean solution resolve the economic efficiency of the externalities you cite? Why or why not? 2. In Costa Rica, only … Read more
What are the limitations of the GDP in measuring total output Gross Domestic Product (GDP) measures the market value of the final goods and services produced within a country during a given period of time. In other words, GDP measures continuous flow of money from households to firms and then back to households in the … Read more
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