AT Micro/Macro Economics

You will be asked to answer THREE of the following four questions. My choice. 1. What is Wheelan's assessment of supply-side economics? Compare it to Ricardo's, 'The Iron Law of Wages." How do both these concepts relate to  Marx's conception of ideas? 2. Why are consumers in this country so prone to consume and not save? What did Ariely propose to do about it and what was the big banks' reaction? 3. In the realm of education, what direction is "No Child Left Behind" pushing American educational policy? What does Ariely suggest we do about it? 4. Tell me a story from your own life that deals with at least 2 of the 4 following economic concepts: moral hazard, adverse selection, screening, and signaling.

Questions for Econ Quiz 3 1. What is Wheelan's assessment of supply-side economics? Compare it to Ricardo's, 'The Iron Law of Wages." How do both these concepts relate to  Marx's conception of ideas? 2. Why are consumers in this country so prone to consume and not save? What did Ariely propose to do about it and what was the big banks' reaction? 3. In the realm of education, what direction is "No Child Left Behind" pushing American educational policy? What does Ariely suggest we do about it? 4. Tel me a story from your own life that deals with at least 2 of the 4 following economic concepts: moral hazard, adverse selection, screening, and signaling.

https://youtu.be/3td8mmEmBxk

http://www.theguardian.com/politics/2016/oct/11/hard-brexit-treasury-66bn-eu-single-market?CMP=Share_iOSApp_Other

Explain how the example of the black pearls is an example of the economic concept imprinting or an anchor. What is self-herding? Give an example from your own life. How does the Ariely chapter on supply and demand fly in the face of traditional economic decision-making? What should we do to correct our irrationality? Please give an example of a quantity restriction and explain why they often don't work What is a third party payer market? What happens in them? Why is the concept of elasticity extremely important if you are running a business?*