Which of the following best illustrates the application of the model-building process to economics?
a. on a sunday morning talk show, two economists with differing political agendas argue about the best way to solve the social security problem on a sunday morning talk show.
b. a labor economist notices that unemployment tends to be higher among teenagers than more experienced workers, develops a model, and gathers data to test the hypotheses in the model.
c. a ph. d. student in economics develops a plausible mathematical model of an industry for his dissertation, but there is no data to test the model.
d. economists come to believe that some economic models are true simply because prominent leading economists say they are true.

Elliott company produces large quantities of a standardized product. the following information is available for its production activities for march. units costs beginning work in process inventory 2,500 beginning work in process inventory started 25,000 direct materials $ 3,725 ending work in process inventory 5,000 conversion 11,580 $ 15,305 status of ending work in process inventory direct materials added 185,750 materials—percent complete 100 % direct labor added 182,375 conversion—percent complete 30 % overhead applied (140% of direct labor) 255,325 total costs to account for $ 638,755 ending work in process inventory $ 62,530 prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per eup, and its cost assignment and reconciliation. use the weighted-average method. (round "cost per eup" to 2 decimal places.)

What is the difference between secure bonds and naked bonds?

Evaluate a real situation between two economic actors; it could be any scenario: two competing businesses, two countries in negotiations, two kids trading baseball cards, you and another person involved in an exchange or anything else. use game theory to analyze the situation and the outcome (or potential outcome). be sure to explain the incentives, benefits and risks each face.