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
25,039,050 questions answered
Popular Conversations
Which of these transition words indicates ...
5/3/2016 9:14:35 AM| 2 Answers
product. (a 2 b 3)4
5/3/2016 11:25:38 AM| 2 Answers
All of the following statements about John Rolfe are true, ...
Weegy: Nathaniel Bacon was a governor of the colony of Virginia. User: In which of the following colonies did the ...
5/3/2016 11:51:19 AM| 2 Answers
What is the purpose of an action plan?
5/3/2016 11:58:11 AM| 2 Answers
Symbolism is defined as the
5/3/2016 12:09:59 PM| 2 Answers
Weegy Stuff
S
Points 184 [Total 184] Ratings 8 Comments 104 Invitations 0 Offline
S
Points 134 [Total 134] Ratings 2 Comments 104 Invitations 1 Offline
S
1
L
L
P
R
P
L
P
P
R
Points 107 [Total 12359] Ratings 1 Comments 97 Invitations 0 Offline
S
Points 38 [Total 107] Ratings 0 Comments 38 Invitations 0 Offline
S
Points 19 [Total 164] Ratings 0 Comments 19 Invitations 0 Offline
S
L
P
Points 12 [Total 1177] Ratings 0 Comments 12 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
L
P
P
P
Points 7 [Total 3384] Ratings 0 Comments 7 Invitations 0 Offline
S
R
Points 5 [Total 727] Ratings 0 Comments 5 Invitations 0 Offline
S
Points 1 [Total 48] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.