Neoclassical economic models make simplifying assumptions about people's rationality and preferences for the following reasons, except:
A. These assumptions make the models mathematically elegant
B. These assumptions allow the models to be conveniently solved mathematically
C. These assumptions allow the models to generate quite precise predictions of behavior
D. These assumptions allow the models to generate quite accurate predictions of behavior
D. These assumptions allow the models to generate quite accurate predictions of behavior
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Which of the following is true about the U.S. trade with Ireland post-1990?
a. The U.S. became a net exporter of software to Ireland. b. Output of potato per acre doubled with the introduction of new techniques, making the U.S. a net exporter of potatoes to Ireland. c. The U.S. production set shifted inward and Ireland gained advantage in the production of both software and potatoes. d. Productivity growth in the U.S. software industry was higher despite the cost-shifting innovations witnessed Ireland.
_____ is an example of specific human capital
a. High school education b. A bachelor's degree in Economics c. On-the-job learning for a sales executive d. A PhD in astrophysics