Differentiate between Rational and Adaptive Expectations and clearly explain their role in focusing on future macro-economic variables 1. Rational Expectations The theory of rational expectations was first proposed by John F. Muth of Indiana University in the early 1960s. He used the term to describe the many economic situations in which the outcome depends partly on what people expect to happen. Rational expectations theory is an assumption in a model that the agent under study uses a forecasting
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Darwin’s Theory of Evolution & Natural Selection Charles Robert Darwin was born on 12 February 1809 in Shrewsbury‚ Shropshire into a wealthy family. Darwin himself initially planned to follow a medical career‚ and studied at Edinburgh University but later switched to divinity at Cambridge. In 1831‚ he joined a five year scientific expedition on the survey ship HMS Beagle. This is where he came up with his theory of evolution. During his voyage on the Beagle‚ Darwin found evidence that challenged
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RATIONAL NUMBER CLASS IN JAVA AIM To write a program to find the rational form of rational number. ALGORITHM 1. Start the program. 2. Declare the class name as rational and assign num‚ den as two parameters. 3. Declare constructor as rational and numerator and denominator as parameter. 4. Then write to string () method to print the rational class object as a string. 5. To get the GCD value using static method use GCD (int m‚ int n) method. 6. Get the num and den from the
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facility technique (ITF) involves auditors establishing a mini company or dummy company on the live files processed by an application system. For example‚ in a payroll system‚ auditors might establish a master-file record for a fictitious employee. Auditors then submit test data to the application system as part of the normal transaction data entered into the system. They monitor the effects of their test data on the dummy entity they have established. Two major design decisions must be made when
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The rational choice perspective has a six core concepts and four decision making models: criminal behavior is purposive‚ criminal behavior is rational‚ criminal decision-making is crime-specific‚ criminal choices fall into two board groups: ’involvement’ and ‘event’ decisions‚ there are separate stages of involvement‚ criminal events unfold in a sequence of stages and decisions(Cornish and Clark). Criminal behavior is purposive when a person decided to commit an offense just to satisfy their needs
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Passive vs. Active Euthanasia Natural Law Theory states that an action is only considered “right” if it does not intentionally or directly violate any of the four basic intrinsic goods that thirteenth-century philosopher St. Thomas Aquinas described. According to Aquinas‚ the four basic intrinsic goods are: human life‚ human procreation‚ human knowledge and human sociability. So for example‚ according to natural law theory‚ using contraceptives such as condoms or birth control pills would not be
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Rational Murderers Murder is‚ by the world’s definition‚ the worst criminal offense possible. According to Vito & Maahs (2012)‚ murder is defined as the willful (non-negligent) killing of one human being by another. The United States punishes murderers by giving them extremely long sentences in prison‚ usually life long‚ or a sentence of death where the offender’s own life is taken. Even though this punishment is universally known throughout the nation‚ murders are still committed. According
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Natural justice In English law‚ natural justice is technical terminology for the rule against bias (nemo iudex in causa sua) and the right to a fair hearing (audi alteram partem). While the term natural justice is often retained as a general concept‚ it has largely been replaced and extended by the general "duty to act fairly". The basis for the rule against bias is the need to maintain public confidence in the legal system. Bias can take the form of actual bias‚ imputed bias or apparent bias.
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As a start-up company we‚ “Closures-R-Us”‚ decide to apply market/demand pull which consult what consumers needs‚ rather than technology push where producing without measure consumer needs. We are producing our product (closure that can be easily open by old peoples) based on population facts of the world. We observed‚ researched and discovered that world population is shifting slightly towards old population from young generation as seen in the above figure. There are obvious declining birth
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Natural Disasters Natural disasters affect many people in the world. Over 31‚849‚838 number of people have died from natural disasters since 1900. A natural disaster is the effect of a natural hazard including tornadoes‚ tsunamis‚ and earthquakes and more. Those natural disasters can lead to financial‚ environmental‚ and human losses. The ten deadliest natural disasters of the past century in order are the China Floods in 1931‚ the Tangshan Earthquake in 1976‚ the Bhola Cyclone in 1970‚ the Haiyuan
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