The modern economy is a complex machine. Its job is to allocate limited resources and distribute output among a large number of agents—mainly individuals, firms, and governments—allowing for the ...
THE MODERN ECONOMY is a complex machine. Its job is to allocate limited resources and distribute output among a large number of agents—mainly individuals, firms, and governments—allowing for the ...
Latent factors are variables that cannot be observed directly but can be inferred from a set of observable variables. For example, in psychology, bad conduct (latent factor) can be measured by how ...
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