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A reactive decision is one that is taken in response to a problem. A reactive approach is based on responding to events after they have happened. Reactive decision making isconcerned with making quick or immediate decisions based on problems that have occurred. Since reactive decision making is concerned with problems, these decisions are usually also made under pressure. A reactive approach is based on past.
Which of the following statements is (in general) true?
In a situation when MRS>Px/Py, the consumer would react by:
If a constant 60 is subtracted from each of the values of X and Y, then the regression coefficient is
What will happen when supply elasticity is less than demand elasticity?
Which school of economic thought suggested that one possible cause of inflation was a ‘push’ from the cost side?
Calculate Disposable income if, Consumption (C) = 200, Investment (I) = 50, Government purchases (G) = 70, Government transfer payments (TP) = 150, Taxe...
Suppose the regression specification y(hat) = a + βx + l z + ε was estimated as y = 5 + 6x + 7z. We have a new observation for which x = 5 and z = ...
If a Cobb-Douglas production is Q = K0.4 L0.6 the function is
Consider the matching-pennies game:
Let p= probabi...
Consider the following production function
Y = F(K,AL) = K1/3(AL)2/3
Calculate the Golden state level of capita...