Explain why a macroeconomic model should be built from microeconomic principles.
Question:
Explain why a macroeconomic model should be built from microeconomic principles.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (13 reviews)
Microeconomics studies individuals and business decision...View the full answer
Answered By
Sandra Dimaala
Sandra from Philippines ,LICENSED PROFESSIONAL TEACHER.
Teachers are our nation builders—the strength of every profession in our country grows out of the knowledge and skills that teachers help to instill in our children. And, as a nation, we must do much, much more to fully appreciate and support their work.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Why should a macroeconomic model be simple?
-
Explain two ways to define macroeconomic equilibrium.
-
Should a macroeconomic model be an exact description of the world? Explain why or why not.
-
Viola, Iona and Paula form a joint for the sale of merchandise. Iona and Paula are to contribute the merchandise, Viola is to act as the manager and is to be allowed a bonus of 25% of the profit...
-
Prove that if F( ) is the Fourier transform of f(t), F[f (t)sin 0 t] = j/2 [F( + 0) - F( - o)]
-
In Problems 15-18, use Hamilton's plan to apportion the new seats to the existing states. Then increase the number of seats by one and decide whether the Ala bama paradox occurs. Assume that the...
-
After the positrons were annihilated, the energy density of the universe was dominated by the photons and the neutrinos. Show that the energy density in that era was given by \(u_{\text {total...
-
Jim Carrie Company shows a balance of $181,140 in the Accounts Receivable account on December 31, 2008. The balance consists of the following. Installment accounts due in 2009 ...... $23,000...
-
Oil having a density of 921 kg/m floats on water. A rectangular block of wood 4.41 cm high and with a density of 963 kg/m floats partly in the oil and partly in the water. The oil completely covers...
-
The Hokies Lunch Group PART A Fatma settled down for lunch at the Yank Sing Chinese restaurant. She was early and took the time to catch up on her e-mail. Soon she would be joined by Jasper and...
-
Why can macroeconomic models be useful? How do we determine whether or not they are useful?
-
The Fox Mug Company is an old-line maker of ceramic coffee mugs. It imprints company logos and other sayings on mugs for both commercial and wholesale markets. The firm has the capacity to produce 50...
-
Express in polar form the complex numbers (a) j (b) 1 (c) 1 (d) 1 j (e) 3 j3 (f) 2 + j (g) 3 j2 (h) 7 j5 (i) (2 j)(2 + j) (j) (2 + j7) 2
-
What do you understand union compatibility of relations? For which operations such compatibility is required and why?
-
Define a computerised accounting system. Distinguish between a manual and computerised accounting system.
-
From the details given below, find out the credit sales and total sales. Opening debtors Closing debtors Discount allowed Sales returns Irrecoverable amount Bills receivables received Bills...
-
Refer back to the table in Figure 12.7 in the previous chapter. Suppose that aggregate demand increases such that the amount of real output demanded rises by $7 billion at each price level. By what...
-
Is it possible to prepare the profit and loss account and the balance sheet from the incomplete book of accounts kept by a trader? Do you agree? Explain.
-
When it rains, water vapor in the air condenses into liquid water, and energy is released. (a) How much energy is released when 0.0254 m (one inch) of rain falls over an area of 2.59 106 m2 (one...
-
If the amplifier indicated by the box input impedance of oo, which of the following statements are true ? has an open loop gain as well as Feedback factor (\beta = 1/ R_1\) The feedback is voltage...
-
Suppose that the goal of the fiscal authority is to set government spending so as to achieve economic efficiency, while the goal of the monetary authority is to achieve stability of the price level...
-
Some macroeconomists have argued that it would be beneficial for the government to run a deficit when the economy is in a recession, and a surplus during a boom. Does this make sense? Carefully...
-
In the New Keynesian model, how should the central bank change its target interest rate in response to each of the following shocks. Use diagrams and explain your results. (a) There is a shift in...
-
You have a new accountant. Where would you go to invite your accountant to your company file?
-
How will you record this transaction? a. What happens to your total assets if you buy a car in cash?
-
Panama Company prepared the following flexible overhead budget where PH is process hour. Identify the overhead cost per PH for indirect labor, maintenance. Also identify the overhead cost of 12,000...
Study smarter with the SolutionInn App