The following are problematic moves by economists in explaining how an economy can work efficiently. (Choose all that apply Believing that a central planner or computer can efficiently manage an economy. ✓ Assuming "perfect information" - I.e., that everyone has the relevant information necessary to make efficient economic decisions. Recognizing that information is dispersed in the minds of everyone in the economy. Using mathematics to model economies.
The following are problematic moves by economists in explaining how an economy can work efficiently. (Choose all that apply Believing that a central planner or computer can efficiently manage an economy. ✓ Assuming "perfect information" - I.e., that everyone has the relevant information necessary to make efficient economic decisions. Recognizing that information is dispersed in the minds of everyone in the economy. Using mathematics to model economies.
Chapter1: Introducing The Economic Way Of Thinking
Section: Chapter Questions
Problem 11SQ
Related questions
Question
Am. 130.
Transcribed Image Text:The following are problematic moves by economists in explaining how an economy
can work efficiently. (Choose all that apply
Believing that a central planner or computer can efficiently manage an economy.
✓ Assuming "perfect information" - I.e., that everyone has the relevant information necessary
to make efficient economic decisions.
Recognizing that information is dispersed in the minds of everyone in the economy.
Using mathematics to model economies.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
