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Principles of Macroeconomics

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Solution Summary

Determination of oil and natural gas prices on the commodity futures markets is examined.

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Principles of Economics in Decision-Making

1) The principles of economics influence your decision making, interaction with others, and the economy as a whole.

Part I: Give one example of how you are personally affected by each of the three areas.
Part II: How were these positive or negative effects?

2) List 3 characteristics of an economists, a scientist and 3 characteristics of an economist as a policy adviser. How do an economist as a scientist and an economist as a policy adviser help to create understanding of economics? Please explain.

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