Question and answer
Economic models?
Economic modeling is at the heart of economic theory. Modeling provides a logical, abstract template to help organize the analyst's thoughts. [ The model helps the economist logically isolate and sort out complicated chains of cause and effect and influence between the numerous interacting elements in an economy. Through the use of a model, the economist can experiment, at least logically,
producing different scenarios, attempting to evaluate the effect of alternative policy options, or weighing the logical integrity of arguments presented in prose. Certain types of models are extremely useful for presenting visually the essence of economic arguments. No student of economics has sat through a class for very long before a picture is drawn on a chalkboard. The visual appeal of a model clarifies the exposition. In this text, four primary models will be presented; the Aggregate Supply - Aggregate Demand (AS/AD) Model, the Loanable Funds Model, an HMCMacroSim simulation model, and the IS/LM Model. All but the Loanable Funds model are inclusive models of the national economy. The Loanable Funds Model is a model of the finance markets and is used to discuss interest rate determination theory. ]
Get an answer
Original conversation
User: Economics involves marginal analysis because?

User: Kara was out jogging and despite being tired, decided to run one more mile. Based on her actions, economists would conclude that Kara?

User: Which of the following terms implies the least degree of confidence in an economic generalization?

User: Economic models?

Weegy: Economic modeling is at the heart of economic theory. Modeling provides a logical, abstract template to help organize the analyst's thoughts. [ The model helps the economist logically isolate and sort out complicated chains of cause and effect and influence between the numerous interacting elements in an economy. Through the use of a model, the economist can experiment, at least logically, producing different scenarios, attempting to evaluate the effect of alternative policy options, or weighing the logical integrity of arguments presented in prose. Certain types of models are extremely useful for presenting visually the essence of economic arguments. No student of economics has sat through a class for very long before a picture is drawn on a chalkboard. The visual appeal of a model clarifies the exposition. In this text, four primary models will be presented; the Aggregate Supply - Aggregate Demand (AS/AD) Model, the Loanable Funds Model, an HMCMacroSim simulation model, and the IS/LM Model. All but the Loanable Funds model are inclusive models of the national economy. The Loanable Funds Model is a model of the finance markets and is used to discuss interest rate determination theory. ]
Expert answered|bestWeegy|Points 381|

User: Other things equal, which of the following would shift an economy's production possibilities curve to the left?

Weegy: An increase in the proportion of total output that consists of capital or investment goods
Expert answered|bestWeegy|Points 376|

User: The fallacy of composition is essentially the error of?

Weegy: omitting relevant variables in constructing a model.
Expert answered|bestWeegy|Points 376|

Question
Asked 10/18/2011 10:33:23 AM
Updated 10/19/2011 7:48:29 AM
2 Answers/Comments
New answers
Rating

There are no new answers.

Comments
[Deleted]
Added 10/19/2011 7:48:29 AM
Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
what is Nominal GDp User: Historically, real GDP has increased less rapidly than nominal GDP because? User: A competitive market system User: A competitive market system is? User: Between 2007 and 2013, productivity growth is expected to account for about ________ percent of the growth of real GDP in the United States?
Question
Not Answered
Updated 10/18/2011 1:13:19 PM
1 Answer/Comment
What Does Nominal GDP Mean? A gross domestic product (GDP) figure that has not been adjusted for inflation. Also known as "current dollar GDP" or "chained dollar GDP". Investopedia Says Investopedia explains Nominal GDP It can be misleading when inflation is not accounted for in the GDP figure because the GDP will appear higher than it actually is. The same concept that applies to return on investment (ROI) applies here. If you have a 10% ROI and inflation for the year has been 3%, your real rate of return would be 7%. Similarly, if the nominal GDP figure has shot up 8% but inflation has been 4%, the real GDP has only increased 4%. Read more:
Added 10/18/2011 1:13:34 PM
17,604,372 questions answered
Popular Conversations
A list of potential sources of information for a paper is a(n) ...
Weegy: A list of potential sources of information for a paper in annotated bibliography. User: An index to ...
9/29/2014 2:50:04 PM| 4 Answers
You've settled on an idea for an essay to write. What should you do ...
Weegy: D.) Conduct interviews, do some research, ask questions, and make a plan. User: To make sure your reader ...
9/29/2014 5:55:28 PM| 4 Answers
What is the square root of 6000?
9/29/2014 2:39:45 PM| 3 Answers
Because the subject of a composition is like a crystal with many ...
Weegy: Because the subject of a composition is like a crystal with many facets, you should A. offer your reader ideas ...
9/29/2014 7:06:34 PM| 3 Answers
The densest ocean water is generally found a. in the surface ...
Weegy: A. in the surface zone User: In which zone is ocean temperature most affected by the weather? a. transition ...
9/30/2014 6:07:25 AM| 3 Answers
The pressure of ocean water increases as depth increases. User: The ...
Weegy: It originates in the Gulf of Mexico and, as the Florida Current, passes through the Straits of Florida and then ...
9/30/2014 6:27:02 AM| 3 Answers
In the Roman Republic, ____________ did not have power in the ...
Weegy: In the Roman Republic,non-citizens did not have power in the government.
9/29/2014 5:48:03 AM| 2 Answers
Weegy Stuff
S
R
L
1
1
P
C
1
P
1
1
L
P
C
P
C
1
P
C
L
P
C
1
P
C
P
C
P
C
L
Points 3316 [Total 27714]| Ratings 8| Comments 3236| Invitations 0|Offline
S
L
1
L
P
C
1
Points 2951 [Total 9482]| Ratings 12| Comments 2831| Invitations 0|Offline
S
L
P
C
L
P
C
P
C
L
P
C
P
C
P
C
Points 2816 [Total 19988]| Ratings 12| Comments 2696| Invitations 0|Offline
S
L
C
P
C
1
L
L
P
C
1
Points 2761 [Total 18700]| Ratings 19| Comments 2571| Invitations 0|Offline
S
L
1
1
1
1
L
1
L
Points 2595 [Total 12375]| Ratings 0| Comments 2595| Invitations 0|Offline
S
1
L
1
L
P
P
L
Points 982 [Total 12228]| Ratings 0| Comments 982| Invitations 0|Offline
S
L
P
C
P
C
1
L
P
C
L
P
C
P
C
P
C
P
C
Points 864 [Total 19395]| Ratings 2| Comments 844| Invitations 0|Offline
S
L
Points 733 [Total 1402]| Ratings 0| Comments 733| Invitations 0|Offline
S
1
L
L
Points 665 [Total 5788]| Ratings 5| Comments 615| Invitations 0|Online
S
P
C
L
P
L
1
Points 177 [Total 6234]| Ratings 2| Comments 157| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.