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Jodi Beggs

Updated Articles and Resources

By Jodi Beggs

    Updated Articles and Resources
    • Short Run vs. Long Run Created: Monday, September 15, 2003 Updated: Wednesday, August 06, 2014
      Article answers the question: I am undergoing an economics lecture at the undergraduate level and cannot understand the difference between" itemprop="description" Thursday, July 31, 2014 Updated: Thursday, July 31, 2014
      This article introduces the market for loanable funds and shows how the forces in that market determine real interest rates.
    • Comparing Monetary and Fiscal Policy Created: Thursday, July 31, 2014 Updated: Thursday, July 31, 2014
      This article outlines the logistical differences in the implementation of monetary versus fiscal policy.
    • Introduction to Asymmetric Information Created: Thursday, July 31, 2014 Updated: Thursday, July 31, 2014
      This article introduces the concept of asymmetric information, explains why it is problematic in markets, and describes two ways that asymmetric information manifests itself in markets.
    • Introduction to the Principal-Agent Problem Created: Thursday, July 31, 2014 Updated: Thursday, July 31, 2014
      This article defines the principal-agent problem and explains why it leads to economic inefficiency.
    • Introduction to the Trade Balance Created: Thursday, July 31, 2014 Updated: Thursday, July 31, 2014
      This article provides some definitions related to the balance of trade in an economy and describes how the trade balance is related to other economic quantities.
    • Introduction to Bundling Created: Thursday, July 31, 2014 Updated: Thursday, July 31, 2014
      This article introduces the concept of bundling and shows how bundling can be advantageous both for producers and consumers.
    • Introduction to the Government Budget Created: Thursday, July 31, 2014 Updated: Thursday, July 31, 2014
      This article introduces the government budget at a high level and defines the concepts of deficit, debt, and surplus.
    • The Relationship Between Saving and Investment Created: Thursday, July 31, 2014 Updated: Thursday, July 31, 2014
      This article explains the difference between "saving" and "investment" and explains when the two concepts do and do not reach parity.
    • Definition of Aggregate Demand Curve Created: Sunday, July 12, 2009 Updated: Thursday, July 03, 2014
      Illustrates the relationship between economic goods demanded and the price level, assuming all else is held constant
    • Are Sales Taxes More Regressive Than Income Taxes? Created: Thursday, January 12, 2006 Updated: Wednesday, July 02, 2014
      Yes, for three main reasons. e.g. People below a certain income typically do not have to pay income taxes. Everyone, however, is forced to pay sales taxes." itemprop="descrTP='t3'" --> itemprop="de...
    • Value Function Created: Thursday, July 15, 2004 Updated: Tuesday, July 01, 2014
      Value Function Defined - A Dictionary Definition of Value Function
    • Unit Root Test Created: Wednesday, July 14, 2004 Updated: Tuesday, July 01, 2014
      Unit Root Test Defined - A Dictionary Definition of Unit Root Test
    • Heuristics Used in Prospect Theory Created: Monday, June 30, 2014 Updated: Monday, June 30, 2014
      This article outlines the editing heuristics outlined by Kahneman and Tversky in their description of prospect theory.
    • The Endowment Effect Created: Monday, June 30, 2014 Updated: Monday, June 30, 2014
      This article explains what the endowment effect is and why it arises in individual decision making.
    • Status-Quo Bias Created: Monday, June 30, 2014 Updated: Monday, June 30, 2014
      This article explains what status-quo bias is and why it arises in individuals' decision-making processes.
    • The Motivation for Prospect Theory Created: Monday, June 30, 2014 Updated: Monday, June 30, 2014
      This article gives a brief introduction to prospect theory and shows the motivating principle that led to its development.
    • The Overchoice Problem Created: Monday, June 30, 2014 Updated: Monday, June 30, 2014
      This article explains what the overchoice problem is and summarizes some of the evidence that researchers have for the phenomenon.
    • The Assumptions of Economic Rationality Created: Monday, June 30, 2014 Updated: Monday, June 30, 2014
      This article outlines the specific properties that economists refer to when they describe behavior as economically rational.
    • The Government Spending Multiplier Created: Monday, June 30, 2014 Updated: Monday, June 30, 2014
      This article explains the logic behind the government spending multiplier and derives how the multiplier is calculated.
    • Marginal Propensity to Consume Created: Monday, June 30, 2014 Updated: Monday, June 30, 2014
      This article explains what marginal propensity to consume is and shows how it is calculated.
    • Definition of Budget Set Created: Thursday, November 27, 2003 Updated: Monday, June 30, 2014
      Budget Set Defined - A Dictionary Definition of Budget Set
    • Definition of Absorptive Capacity Created: Tuesday, November 25, 2003 Updated: Monday, June 30, 2014
      Absorptive Capacity Defined - A Dictionary Definition of Absorptive Capacity
    • Technological Change Created: Friday, July 09, 2004 Updated: Monday, June 30, 2014
      Technological Change Defined - A Dictionary Definition of Technological Change
    • Tightness Created: Friday, July 09, 2004 Updated: Monday, June 30, 2014
      Tightness Defined - A Dictionary Definition of Tightness
    • Public Goods, Common Resources, and Club Goods Created: Friday, June 24, 2011 Updated: Monday, June 30, 2014
      This article outlines the different types of goods that can exist when property rights are not well-defined.
    • Tit-for-Tat Created: Friday, July 09, 2004 Updated: Monday, June 30, 2014
      Tit-for-Tat Defined - A Dictionary Definition of Tit-for-Tat
    • Changes in Equilibrium with Multiple Curve Shifts Created: Tuesday, October 08, 2013 Updated: Monday, June 30, 2014
      This article performs comparative statics, or analysis of changes in market equilibrium, when multiple factors affect supply and demand in a market.
    • Definition of Producer Surplus Created: Saturday, June 13, 2009 Updated: Monday, June 30, 2014
      Producer Surplus Defined - A Dictionary Definition of Producer Surplus
    • Definition of Natural Monopoly Created: Wednesday, January 28, 2004 Updated: Monday, June 30, 2014
      Natural Monopoly Defined - A Dictionary Definition of Natural Monopoly
    • Sargan Test Created: Saturday, July 03, 2004 Updated: Monday, June 30, 2014
      Sargan Test Defined - A Dictionary Definition of Sargan Test
    • Definition of NAIRU Created: Wednesday, January 28, 2004 Updated: Friday, June 27, 2014
      NAIRU Defined - A Dictionary Definition of NAIRU

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