In most of the theoretical examples in this book, prices have been quoted in dollars or cents.
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In most of the theoretical examples in this book, prices have been quoted in dollars or cents. Is this choice of currency crucial? Would most examples be the same if prices had been stated in pounds, euros, or yen? Or, would it have mattered if the dollars used were "1900 dollars" or "2000 dollars"? How would you change the endless hamburger-soft drink examples, say, to phrase them in some other currency? Would such changes result in any fundamental differences? Or, do most of the examples in this book seem to display the classical dichotomy between real and nominal magnitudes?
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Most of the examples have been quoted in dollar or cent While considering the int...View the full answer
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Rebecca Yates
I am a hardworking and driven undergraduate student from the UK, majoring in history at the University of St Andrews.
I have tutored for several years. When I graduated high school, I began helping younger students from my school prepare for GCSE and A Level examinations, particularly in History, French, English Literature and Maths (which were my own A Level subjects). I also undertook some tutoring at university, helping students in lower years with classes I had already sat and leading revision groups. Last year, I tutored online for several months before stopping to focus on my dissertation preparation.
I aim to not only pass on facts to my students, but also to teach transferable skills such as structuring arguments, analysing sources and supporting points with evidence. These skills help with essay writing and help to prepare students for further education in the future, such as university, and are crucial for overall academic development.