Why would you rather use real variables in an economic analysis

Q: A kids' organization sold 570 bars last year at $ 2.55 per candy bar. Research has suggested that…

A: (Only the first three parts have been solved).    In this case, first the dd function that is faced…

Q: If you were studying the following relationship, which variable would be exogenous and which would…

A: Endogenous variables are those variables whose values are determined in the model. It is also called…

Q: Explain Gresham's Law

A: According to Gresham's Law, If two moneys are both legal tender at a fixed ratio, the overvalued…

Q: what does it mean to have a linear correlation? Give an example of one.

A: Correlation can be defined as a linear relationship between two variables. The value of correlation…

Q: Behavioural Economics combines process of consumers. and to understand the decision making 1…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: own ex

A: The discipline of economics is being heavily influenced by the bias of the researcher, which in turn…

Q: write a short note about the following variables and support your answers by giving examples for…

A: Variable cost (VC) is the cost which changes with change quantity produced or change in output. It…

Q: How Many decisions in business and economics require quantitative estimates? why ?

A: Almost every business and economic decision requires quantitative research. Data is very important…

Q: Discuss Okun's law and Philip's Curve

A: Okun law in a economics states that there exist a statistical relationship between unemployment rate…

Q: f an economic curve has a negative slope, then one variable _______ falls as the other rises.

A: The notion of slopes is very important and useful in economics as it helps in measuring the…

Q: Relationship between economic geography and economics

A: The economics is mainly divided in the two parts which are microeconomics and macroeconomics. The…

Q: This multiple choice question from MACROECONOMICS course. just write for me the final answer

A: The relation between real GDP, nominal GDP, and the price level is given by; Price level =Nominal…

Q: What are the stages of econometrics research

A: Econometrics is the quantitative application of statistical conclusions, economic theory, and…

Q: What is the importance of Matrices in mathematical economics?

A: Mathematical economics is an economic model that uses the principles and methods of mathematics to…

Q: Q 2.A write a short note about the following variables and support your answers by   giving…

A: TFC: These are the fixed costs that incur permanently. These do not change with change in the level…

Q: what is economic phenomena

A: Unemployment is the situation in which an employable individual seeking a job but cannot find one.

Q: What is the dependent variable and which is the independent variable?

A: Dependent variables are the variables which change due to changes in independent variable. While…

Q: Variables expressed in terms of ...... are called ...... variables a) physical units / endogenous…

A: The nominal value of a variable (that is nominal variable ) such as income and wage estimates the…

Q: Why do economist make assumptions

A: Economist: The person who studies various activities and their relationship in an economy is termed…

Q: Are the variables Y and X inversely related or directly related? What is the value of Y if b=10,…

A: Inversely related: Variables are said to be inversely related when increase and decrease in one…

Q: Why is it important for us to use models when studying economics?

A: In economics a Model is defined as a theoretical construct which represents the economic processes…

Q: Write is details about the regression analysis?

A: Regression analysis could be a set of statistical methods used for the estimation of relationships…

Q: Give a one or two-sentence explanation of each curve using proper economic terms. Be sure to…

A: Supply curve shows the positive relationship between the price and quantity supplied. The rise in…

Q: How can you test for general misspecification of model if it would have only (any of) two…

A: To test for general misspecification of model if it would have only two independent variables then…

Q: Economics

A: Amartya Sen has been known as the Mother Teresa of Economics for his work on starvation, human turn…

Q: What is law of variable proportion?What are the assumptions of the law?

A: In simple words we can say that the law of variable proportion is the that which always takes place…

Q: Which of the following is true of the circular flow diagram?

A: option first is right answer In circular flow digram, saving is leakage and investment is an…

Q: write a short note about the following variables and support your answers by giving examples for…

A: Total Fixed Cost (TFC) - Total fixed cost is the cost which does not change with the change in…

Q: Consider the figure below, what does these point A, B, D, E, and G shows? Explain these points…

A: This is an example of the production possibility frontier. PPF shows the different combinations of…

Q: What is economic uncertainty?

A: Economic uncertainty proposes the future stance for the economy is unexpectable. When people talk of…

Q: HDI vs GNI formula to create scatterplot

A: HDI also called Human Development Index is a measure of average achievements of various human…

Q: Einstein was quoted saying "Everything should be made as simple as possible, but not simpler." When…

A: Introduction: Einstein was implying that while it is preferable to make even complicated things as…

Q: This multiple choice question from MACROECONOMICS course. just write for me the final answer.

A: Unemployment rate refers to the rate of total unemployed group of any country.

Q: What is an economic assumption?

A: Economic assumptions are predictions regarding the overall business climate that a corporation…

Q: Explain why in every econometric model there must be an error term, explain its function

A: Economics uses the real life models and simplifies them to fit into a mathematical expression. This…

Q: What does it mean to think like an economist?

A: Economist think by considering relevant facts about an economy.Different factors such as…

Q: What is an Economist

A: The following problem has been answered as follows:

Q: What is proper method in economic analysis and what is the value of economic analysis?

A:

Q: Why researchers use so many theoretical model to do their research, such as regression model,…

A: In economics, researchers are considered as the people who uses empirical evidences, past…

Q: What is a circular flow model

A: In economics, households refers to one or more persons that live in the same place and share meals.…

Q: Explain which of the following is the independent variable and which is the dependent variable for…

A: In economics, variables are considered as dependent and independent according to their importance in…

Q: Examine the law of variable proportions and show graphically. Which stage is optimum for production…

A: This law depicts short-run output functions where one element varies while the others remain…

Q: What do Experience curves tell us?

A: According to the economic concept of an experience curve, a company becomes more efficient the more…

Q: Answer any 1 from a and b below Explain the shape of AS? What shifts AS

A: The curve that depicts various quantities of goods being supplied by producers at different price…