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Why the government should not be included in circular flow model and whether you think the government should be included or not?
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- what role do economic ideas play in policy making??Why do economists sometimes offer conflicting advice to policymaker?Now that we've talked a little about what economics is, let's consider the concept of value. When we look at the circular flow diagram, what role does value play? How does it flow through the system?
- What three institutions influence economics the most? Explain how each influences economics and provide examples of each.Economic Models? a. are essential representations of the real world b. are used to explain how people think c. are never used for making economic projections or predictions d. are used to explain how people behaveDefine Economics and its Types?
- Please use the graph to answer the given questions. Assume the people act rationally. Which of the statements best describes a situation represented by point A? Look at the image to solve for this Jeff agrees to lend money to his brother, who plans to use the funds to open a shoe store. Wayne projects that if he takes out a loan to open another gym franchise, he will earn a lower return than the interest rate he would have to pay, so he decides against it. Janine predicts that, if she borrows to expand operations, she will earn a rate of profit higher than the interest rate of the loan. So, she decides to take out the loan. Carly decides against purchasing a corporate bond because she has another investment opportunity that returns 17%. Given the market conditions, what will be the prevailing interest rate? 18% 2% 17% 10% 6% Given the market conditions, how much will be available in loanable funds? $90 billion $50 billion $30 billion $70…What does a normative statement describe? A. how the world will be in the future B. how the world ought to be C. how the world is D. how the world was in the pastWhat does a circular-flow diagram do? ○ It illustrates cost-benefit analysis. ○ It explains how the economy is organized. ○ It shows the flow of trade in the world. ○ It explains how banks circulate money in the economy.