1.Is the Money Supply Endogenous?
2. What Causes the Variation of Income Among Ethnic Groups?
3.How Is It Possible to Provide Causal Explanations Using Mathematical Economics?
4. What Is the Microeconomic Foundation of Inflation?
Answers
Answer:
1 Endogenous money is an economy's supply of money that is determined endogenously—that is, as a result of the interactions of other economic variables, rather than exogenously (autonomously) by an external authority such as a central bank.
2 •
Export growth and changing factor payments are the main drivers for income changes.
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Income growth is affected less for ethnic Malays than for Chinese and Indians.
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The public sector is dominated by Malays and insensitive to export growth.
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Policy reforms have had limited effects in reducing inter-ethnic income inequality.
3 in my very private opinion, math economics: it is only else one story, "How good if everybody are angels". It all is about "honest market" and other impossible in this world miracles. O yes, "honest market" it is excellent. "Honest communism" is also excellent. They are even equal. Mathematically. And even applicable. To the angels. Opposite to it, human based market, first of all is absolutely not honest. "Math economics": rich not honest peoples sponsored it, to create an illusion covering their real actions.
4 Microeconomic theory like utility function and so on are used to explain inflation. Collect any modern textbook and look up a popular concept like Expectations Augmented Phillips Curve which connects inflation with unemployment.
Answer:
1.it is a result of the interactions of other economic variables, rather than exogenously by an external authority such as central bank.
2.reasons for variations in low income and deprivation among different ethnic groups in the UK and the problems caused .it also aims to contribute towards.
3.yes,it is possible.certains intuitions when mathematized may lead to insights and implications.
4.microeconomic theory like utility function and so on are used to explain inflation