Consider (a) the economic model of maximizing net benefits discussed in class and (b) the human brain decision model (also discussed in class). Pick a decision from your own personal or professional experience (choose a reasonably important decision; not just whether to buy a piece of candy or not). Use both models side-to-side to analyze the decision. Illustrate the similarities and differences between the models as they apply to your decision. Are both models compatible with each other or not

Suppose that hubert, an economist from an am talk radio program, and kate, an economist from a nonprofit organization on the west coast, are arguing over government bailouts. the following dialogue shows an excerpt from their debate: kate: to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. hubert: indeed, it’s gotten crazy! a government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. kate: i don’t know about that. without a bailout of severely distressed financial firms, the economy will experience a deep recession. the disagreement between these economists is most likely due todifferences in scientific judgments . despite their differences, with which proposition are two economists chosen at random most likely to agree? business managers can raise profit more easily by reducing costs than by raising revenue. central banks should focus more on maintaining low unemployment than on maintaining low inflation. employers should not be restricted from outsourcing work to foreign nations

If the findings and the results are not presented properly, the research completed was a waste of time and money. true false

Factors like the unemployment rate,the stock market,global trade,economic policy,and the economic situation of other countries have no influence on the financial status of individuals. true or false