plugin-PS_1_Solution

plugin-PS_1_Solution - Any questions, let me know....

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Any questions, let me know. xgu@econ.rutgers.edu Answer Sheet Name: Problem Set One Solution 1.A 2.C 3.C 4.C 5.D 6.C 7.A 8.C 9.C 10.D 11.D 12.B 13.B 14.C 15.A 16.D 17.D 18.D 19.C 20.C 21.C 22.A 23.B 24.D 25.A 26.C 27.C 28.C 29.A 30.D Some Explanation( any questions, email me.) 4. The Correct answer is C. One of the principles in economics study is equality VS efficiency. The question says government is working on the equality side, so it must cause some damage in efficiency side. So the economic pie gets smaller. Recall an example in class, the government distributes the money from the wealthy to the poor. It might make the wealthy less motivated to work. So the economic pie gets smaller. 9. The Correct answer is C. Model is used to simplify things. Not to mirror reality. Reality is always complicated, too many variables. Some economics model are used for public policies making. Economics model can help you find relations between things. And public policies can make a great deal of it.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

plugin-PS_1_Solution - Any questions, let me know....

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online