Define the variables in the following model and identify the economist who created it:
a. (S – I) + (T – G) + (nx) = _________
Given this accounting identity and sovereign currency issuance, is it good for the economy to shrink government deficits? Answer this question with an if/then statement.
Name two countries that fit the above criteria.
6. (30 pts) Using the principle of duality, provide the mathematical models of the two constrained optimization problems that the consumer can solve. Given duality, the answers to these two optimization problems are ________________. In one if/then sentence, use meta-theory to argue whether or not this model indicates that constrained optimization is an appropriate methodology for describing Buddhist economics.
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