Describe the forces that drive family formation according to the neoclassical/Becker model of family formation. Compare and contrast this model with bargaining models of family formation.
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Describe the forces that drive family formation according to the neoclassical/Becker model of family formation. Compare and contrast this model with bargaining models of family formation.
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- Which of the following is NOT a characteristic of a typical positive economic model? Group of answer choices the assumption that people weigh the costs and benefits of their various alternatives realistic assumptions makes predictions that can be proven false makes assumptions that ignore the complexity of behavior A regression estimates that Q = 35 - 0.1 ∗ X, where Q is the quit rate, X is the number of employees at the firm. This indicates that doubling the number of employees from 100 to 200 will reduce the quit rate by Group of answer choices 35% points. 50% points. 5% points. 10% points. Because workers have varying preferences about the type of work they like to do, Group of answer choices the firm supply curve for chefs is vertical. the market supply curve for chefs is upward sloping. the market demand curve for chefs is downward sloping. the firm supply curve for chefs is horizontal. Year Average Nominal Wage…Which of the following is INCORRECT regarding the reasons why we continue to study the Malthusian trap, even though evidence shows that it is not currently relevant? (a)Because many people still believe it holds in poor countries today, and the model should be understood to motivate effective debate. (b)Because the model focuses on the microeconomics of family size decision making in which individual levels of living become the principal determinant of a family’s decision to have more or fewer children. (c)Because such traps have occurred in the past and may have been factors in population collapses. (d)The fact that this model no longer applies underlines the importance of factors that can prevent its emergence.The idea that standard economic model is a good predictor of behavior if people have sufficient time to learn is the __________preference hypothesis.
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- Ways in which human decision making differs from the rational individual conventional economic theoryWhat are the ‘Lessons’ of the Specific Factor Model? Demonstrate this lesson using formal modeling (either graphs or equations).Behavioral economics assumes that people are ___. Traditional economics assumes that people are ___.
- In a standard economic model, we generally assume the individual only cares about their own payoff. So, for example, utility of individual i is given by u = pi, where pi is the individual’s payoff. Suppose the individual is playing a dictator game with another partner j. How would you modify the utility function to explain the non-zero allocations to the partner that are typically observed?Which of the following arguments is based on the concept of adverse selection? a. The U.S. Military needs higher pay to attract the best personnel. b. Private medical insurance companies seek to exclude those most likely to need healthcare. c. Only the national government can successfully conduct macroeconomic stabilization policies. d. Mosquito abatement is a public good.Indicate how autarkic policies are linked to dependence theories;