Answer to Question #207743 in Economics for Ala Ana

Question

1-Which of the following are the characteristics of a simple system: 

a) Small changes in the parameters do not qualitatively alter the system’s behaviour;

b) Predictability;

c) Feedback loops;

d) Strange loops.

2-Which of the following terms is a keyword in second-order Cybernetics:

a) Recursiveness

b) Self-regulation

c) Reflection

d) Autopoiesis 

3- Which of the following statements are true: 

a) Any point on the IS curve is an equilibria on the goods and services market and a decrease in government expenditures shifts the IS curve to the right.

b) Any point on the IS curve is an equilibria on the money market and a decrease in taxes shifts the IS curve to the right.

c) Any point on the LM curve is an equilibria on the money market and an increase in money supply shifts the LM curve downward.

d) Any point on the IS curve is an equilibria on the goods and services market and an increase in money supply shifts the IS curve to the left.

Answer 1

1. Predictable and intuitively well- understood behaviour is one of the principal characteristics of simple systems.

So, the correct answer is b).

2. Second-order cybernetics, also known as the cybernetics of cybernetics, is the recursive application of cybernetics to itself and the practice of cybernetics according to such a critique.

So, the correct answer is a).

3. Any point on the LM curve is an equilibria on the money market and an increase in money supply shifts the LM curve downward.

So, the correct answer is c).