1 I think the most important sentence in the Ackerlof profile you read for questions 5-7...

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1 I think the most important sentence in the Ackerlof profile you read for questions 5-7 is "A person without a job loses not just his income but often the sense that he is fulfilling the duties expected of him as a human being." For this week's discussion, consider if you agree with that sentence or not. Do you think this is true for most people, or do you think these are just the values Ackerlof has? In other words, do most people feel an ethical obligation to go to work, or are they just doing it for the money? Explain in a short paragraph of at least 4 sentences. You need to post your answer in Canvas to the Discussion 1 section to earn these points, although you are also free to type them here. (8 points) I 11. What does the video say is true about how the value to buyers compares to the cost to sellers for most trades in a market? (2 points) 12. What does the video say is maximized in a free market when the equilibrium price is reached?? (2 points) 1 I think the most important sentence in the Ackerlof profile you read for questions 5-7 is "A person without a job loses not just his income but often the sense that he is fulfilling the duties expected of him as a human being." For this week's discussion, consider if you agree with that sentence or not. Do you think this is true for most people, or do you think these are just the values Ackerlof has? In other words, do most people feel an ethical obligation to go to work, or are they just doing it for the money? Explain in a short paragraph of at least 4 sentences. You need to post your answer in Canvas to the Discussion 1 section to earn these points, although you are also free to type them here. (8 points) I 11. What does the video say is true about how the value to buyers compares to the cost to sellers for most trades in a market? (2 points) 12. What does the video say is maximized in a free market when the equilibrium price is reached?? (2 points)

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1 Agreeing with Ackerlofs Statement The statement from Ackerlofs profile touches on a fundamental as... View the full answer