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What is the major difference between the classical model and the Keynesian model?
The major difference between the classical model and the Keynesian model is their approach to government intervention in the economy. The classical model believes in a hands-off approach, where the economy will naturally correct itself, while the Keynesian model advocates for government intervention to stimulate economic growth and stabilize fluctuations.
What are the two ethical justifications for the classical model of corporate social responsability?
yes
In the classical economic model which of these rather then the government allocates the resources of the nation?
Price RAWRSAURS
Why is the harrod-domar growth model not widely used these days?
The reason why it is not formally taught as a viable growth model is due to its inherent weaknesses. The weaknesses lie in the assumptions of the model. When creating an economic theory, you can make any assumptions you want, regardless of how unrealistic they may be. If the model starts to fall apart when you rest the weakest assumptions, it loses credibility.One problem with the model is that the price for labor and capital (wage rate and interest rate) are fixed. Along with this assumption, the model assumes that each input is used in equal proportions. In reality we know that these assumptions don't hold.Another problem with the model is that is assumes investors (savers) are only influenced by changes in output. The greater the output, the more investors will invest capital which in turn increases output. This is known as the accelerator principle and it does not hold up in empirical studies. Investors are influenced by the amount of risk they must take given the expected rate of return they will receive on their investment.A model that rests the assumptions of the H-D model is the Solow Model (aka Solow-Swan Model). It uses some of H-D framework but then expands on it to allow for flexibility in the use of both capital and labor as flexible inputs to output. A great source for a more detailed but easy to understand explanation is Wikipedia. Check out the related link. After reading this, review the commentary on the Solow Model. Hope this help.
What are the assumptions of Harrod-Domar growth model?
It assumes that savings and investment are all that is needed for growth. No diminishing returns to capital is an implicit assumption.
What are the assumptions that underlie the classical model of decision-making and explain how this model would help to explain the behavior of a manager who was attempting to act consistently with thi?
The classical model of decision-making assumes that individuals are rational, have access to all information, evaluate all options, and choose the optimal solution. This model suggests that a manager, acting in a manner consistent with it, would thoroughly assess all available options, weigh the pros and cons logically, and select the best alternative based on objective criteria, maximizing utility or profit.
What is a decision making model?
Decision Making is a basic function of manager, economics is a valuable guide to the manager. There are basically two major models of decision-making - the classical model and the administrative model. The classical model of decision making is a prescriptive approach that outlines how managers should make decision. Also called the rational model, the classical model is based on economic assumptions and asserts that managers are logical, rational individuals who make decision that are in the best interest of the organization. The Administrative model of decision making is a descriptive approach that outlines how managers actually do make decisions. Also called the organizational, neoclassical, or behavioral model, the administrative model is based on the work of economist Herbert A.
What is a making model?
Decision Making is a basic function of manager, economics is a valuable guide to the manager. There are basically two major models of decision-making - the classical model and the administrative model. The classical model of decision making is a prescriptive approach that outlines how managers should make decision. Also called the rational model, the classical model is based on economic assumptions and asserts that managers are logical, rational individuals who make decision that are in the best interest of the organization. The Administrative model of decision making is a descriptive approach that outlines how managers actually do make decisions. Also called the organizational, neoclassical, or behavioral model, the administrative model is based on the work of economist Herbert A.
What is the major difference between the classical model and the Keynesian model?
The major difference between the classical model and the Keynesian model is their approach to government intervention in the economy. The classical model believes in a hands-off approach, where the economy will naturally correct itself, while the Keynesian model advocates for government intervention to stimulate economic growth and stabilize fluctuations.
The bureaucratic model of organization is based on the _____ theory?
Classical
What are the assumptions of the neoclassical model?
The neoclassical model assumes that individuals are rational, markets are perfectly competitive, resources are scarce, technology is constant, and individuals act to maximize their utility or profit. These assumptions form the foundation of neoclassical economic theory.
What is classical waterfall model?
http://en.wikipedia.org/wiki/Waterfall_model
How can you make theoretical probability more accurate?
By ensuring your model is as good as it can be. Make sure that any assumptions that you make for your model are justified and, if necessary, properly reflected in the model.
Compare and contrast classical and administrative models of decision making?
classical model of decision making involves more thinking and reasoning administrative model of decision making involves more intuition and feelings
What are the underlying basic assumptions?
The underlying basic assumptions refer to the foundational beliefs or premises that form the basis of a concept, theory, or model. These assumptions are often implicit and shape the way in which information is interpreted or analyzed within a particular framework. Clarifying these basic assumptions is important for understanding the underlying logic and limitations of a given perspective.
What are the two ethical justifications for the classical model of corporate social responsability?
yes
What have observers of real politics questioned in the majoritarian model's assumptions?
They have challenged the idea that citizens are knowledgeable and want to participate.
