Economics(including finance)is a social science that studies how to allocate scarce resources. Neoclassical economics is a school of economics that was first formed in the late 19th century and dominated the economic thought for most part of the 20th century. All the economic and financial theories you have learned so far belong to the neoclassical economics. These theories are based on some fundamental assumptions of human behavior. Can you list at least four of these assumptions and briefly explain them?

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A: Neoclassical economics is that branch of economics that emerged in the 20th Century. It differs from…

Q: Who is generally regarded as the founder of the 'Classical School'?

A: To find : Who is founder of classical school.

Q: Behavioral economics assumes that people are ___. Traditional economics assumes that people are ___.

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Q: Identify principles of classical and neoclassical economics and summarize theirimplications for the…

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Q: Define behavioral economics and explain how it contrasts with neoclassical economics.

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Q: Neoclassical Economics, markets lead to maximum social welfare, if particular conditions are…

A: In Neoclassical Economics, markets lead to maximum social welfare, if particular conditions are…

Q: What does potential GDP mean and what does it mean in terms of neoclassical analysis? Please be sure…

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Q: Identify and explain three differences between neoclassical economics economics and behavioral…

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Q: according to neoclassical theory, what determines wages and the return to capital? How would a…

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Q: Behavioral economics and its emphasis on the irrationality of consumers/markets is most closely…

A:

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Q: Why would an economist choose either the neoclassical perspective or the Keynesian perspective, but…

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Q: Discuss the Pretence-of-Knowledge problem in economics and to what extent its neglect may cause harm…

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Q: Which of the following is not true of "models" in the study of economics? Select the correct answer…

A:

Q: Identify and briefly explain the neoclassical argument and the key building blocks of neoclassical…

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Q: We use markets to allocate resources because planning is too hard.” Outline the basic assumptions…

A: The neo classical economic models focuses on the free market forces (demand and supply) that…

Q: Economic Theory, however, identifies a series of factors or mechanisms that are capable in principle…

A: The idea of convergence in economics (also known as the catch-up effect) is the hypothesis that…

Q: Differentiate between an exogenous variable and an endogenous variable in an economic model? Why…

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Q: Who is generally regarded as the founder of the 'Classical School'? David Ricardo

A: To find : Founder of classical school.

Q: The idea that standard economic model is a good predictor of behavior if people have sufficient time…

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Q: The consumer theory and the expected utility theory are two theories. Give a policy recommendation…

A: The consumer theory on decision making recommended that consumers go with choices in light of the…

Q: Which of the following statements is true regarding the neoclassical school? A. According to the…

A: NOTE: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: According to the "Scientific Method," what is the economics profession expected to do? Multiple…

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Q: Which of the following would a Laissez-Faire economist advocate in a time of economic recession

A: Laissez-faire economist advocate complete freedom of firms.

Q: Describe four ways in which critics hold that neoclassical economic approaches can worsen…

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Q: Which of the following is the best description of the study of economics? Economics is the…

A: please find the answer below.

Q: Please explain why the Classical School started to advocate liberal economic policies towards the…

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Q: Discuss the core notions of the market-friendly approach, one of the three ideological strands…

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Q: The methodology of ________ economics says that models should be based on predictions and not…

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Q: summary of the key differences between Keynesian Economics and Classical/Neoclassical Economics

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Q: During the 18th century classical was the mainstream school of economics.

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Q: Business economics bridges the gap between abstract theory and business practice. It uses the tools…

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Q: What is the goal of behavioral economics? Group of answer choices   To eliminate the consumers’…

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Q: What are the responsibilities of an economic analyst? Elaborate in complete sentences using…

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Q: Q1: How does the so-called 'weak' approach to sustainability within neoclassical economics differ…

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Q: Briefly discuss the key difference(s) between Keynesian Economics and Neoclassical Economics.

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Q: Which of the following is NOT studied in microeconomics?   The effects of government regulations…

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Q: What does Chang mean when he describes Neoclassical economics as being more "versatile" than other…

A: There, are different schools of economics such that keynesian economics, classical economics,…

Q: Which of the following statements is/are correct? I. Because aggregate variables are essentially the…

A: While macroeconomics examines choices made by nations and governments, microeconomics analyses…

Q: Identify each statement as being associated with neoclassical economics or behavioral economics…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Which of the following statements most likely lies within the realm of microeconomics?   Group of…

A: Microeconomics is the part of economics that deals with individual units or a particular firm.

Q: What are 4 basic assumptions of neoclassical economics

A: As economies and societies developed, the study of economics got more complicated. Hence, as a…