Why do economists think the classical dichotomy holds in the long run?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Macroeconomics

ISBN: 978-0393923902

3rd edition

Authors: Charles I. Jones

See More Books

Question Posted: Feb 25, 2016 06:28 AM

See More Questions

Why do many economists think that large cross-country income differences are hard to reconcile with implications of the neoclassical growth model?
Why do economists regard a law degree as human capital? Can you think of an educational experience that Isn't capital?
Why do economists consider growth in average labor productivity to be the key factor in determining long-run living standards?
The number of desks in one row is 5d + 2. How many desks are there in a room of 2d - 1 rows if they are arranged in a rectangular arrangement?
Refer to Exercise 8.65. Any marble ryes that are unsold at the end of the day are marked down and sold for half-price. How many loaves should the bakery prepare so that the proportion of days that...
In its first month of operations, Pharoah Company made three purchases of merchandise in the following sequence: ( 1 ) 3 8 0 units at $ 6 ( 2 ) 4 8 0 units at $ 8 , and ( 3 ) 5 8 0 units at $ 9 ....
Use the following steps to show that $r$ is bounded by -1 and 1 (These steps are due to Koch, 1990). a. Let $a$ and $c$ be generic constants. Verify \[\begin{aligned}0 & \leq \frac{1}{n-1}...
The ownermanager of Good Guys Enterprises obtains utility from income (profit) and from having the firm behaves in a socially conscious manner, such as making charitable contributions or civic...
You have a computer system where a customer wants the device to be changed from being a magnetic hard drive to an SSD using a M.2 interface. The desktop computer does not have a M.2 slot. Is what the...
Consider the portion of an excavator shown. At the instant under consideration, the hydraulic cylinder is extending at a rate of 6 in. /sec, which is decreasing at the rate of 2 in. /sec every...
A concise summary of the quantity theory of money is that inflation occurs because of too much money chasing too few goods. Explain.
What is the difference between a real interest rate and a nominal interest rate? What is the intuition behind the Fisher equation?
Explain the relationship between high self-actualization (Maslow) and nAch. Next, explain the relationship between high self-actualization and motivators
Suppose the capacitor in Figure 26.9 has a plate separation distance $d$ and the plates carry charges $+q$ and $-q$ when the capacitor is connected to a battery that maintains a potential...
An open belt drive transmits a power of $5 \mathrm{~kW}$. The linear velocity of the belt is $8 \mathrm{~m} / \mathrm{sec}$. The angle of the lap on the smaller pulley is $165^{\circ}$. The...
A team of automotive engineers want to compare the lifetimes of two brands of tire. They obtain samples of seven tires of each brand. On each of seven cars, they mount one tire of each brand on each...
The article "Approximate Methods for Estimating Hysteretic Energy Demand on Plan-Asymmetric Buildings" (M. Rathhore, A. Chowdhury, and S. Ghosh, Journal of Earthquake Engineering, 2011: 99-123)...
The article "Predicting Depressed Patients with Suicidal Ideation from ECG Recordings" (A. Khandoker, V. Luthra, et al., Med Biol Eng Comput, 2017: 793-805) reports a study in which systolic blood...
In the preceding discussion of existential import, it was shown why, in the Boolean interpretation of propositions adopted in this book, most of the inferences that traditionally were thought to be...
APC16550D UART has a clock running at18.432 MHz and its baud rate is set to 2000.Determine the HEX contents of its DLM and DLL registers. Please can you explain step by step and in detail how you get...
From the following data, construct an expenditure schedule on a piece of graph paper. Then use the income-expenditure (45° line) diagram to determine the equilibrium level of GDP. Compare your...
Suppose that investment spending is always $250, government purchases are $100, net exports are always $50, and consumer spending depends on the price level in the following way: Price Consumer Level...
Consider an economy in which the consumption function takes the following simple algebraic form: C = 300 + 0.75DI and in which investment (I) is always $900 and net exports are always -$100....
calculate the payback period, internal rate of return, and net present value of the proposed mine
You need to choose between the following two design projects: year Cash flow A cash flow B 0 -$81,000 -$21,800 1 38,600 12,200 2 38,600 12,200 3 38,600 12,200 a) If the required return is 10 percent...
Home Furnish has bonds on the market with 13 years to maturity and a yield to maturity of 8.5.In the financial newspaper, Home Furnish bonds is quoted as 127.223% of par value. The bonds make...

Why do economists think the classical dichotomy holds in the long run?

Question:

Step by Step Answer:

We think the classical dichotomy holds in the long run ...View the full answer

Macroeconomics

Students also viewed these Economics questions