Econ Essay Questions

Econ Essay Questions - Econ Essay Questions 1. Is it...

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Econ Essay Questions 1. Is it alleged that “money is the root of all evil”? To the contrary, money is one of the greatest technological innovations of all-time. Explain why. No bartering Can cash checks, provide loans, have credit It can be stored (store of value) You don’t not need to double coincidence of wants i. Money is a universal way to buy and sell Diverse consumption 6. The GDP per capita of Bangladesh is one-hundredth the GDP per capita of the U.S. Provide some explanation of this difference. Human capital is low in Bangladesh U.S. has technologically advanced equipment Voluntary exchange People can exchange as they want Entrepreneurship 7. Why is it absurd to criticize a theory by criticizing the assumptions on which it is based? What criterion would you use to evaluate a theory? We must make assumptions to isolate a variable and be able to determine whether it is true. You only have the world if you don’t make assumptions.
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This note was uploaded on 03/19/2009 for the course CLASS 40 taught by Professor Athanassakis during the Winter '08 term at UCSB.

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Econ Essay Questions - Econ Essay Questions 1. Is it...

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