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Trace the evolution of work on the laissez-faire doctrine through two arcs. First those theorists who are trying to prove that the system is stable. Secondly those who are trying to prove that the system is inherently unstable. For each scholar provide their position on the issue as well as the theoretical mechanism that drives stability/instability. Be sure to include each of the following:- A. Smith (Invisible hand)- L. Walras (Walrasian Auctioneer)- K. Marx (Laws of Motion)- Edgeworth (Edgeworth Box)- Keynes (Animal Spirits)- Schumpeter (Creative Destruction)
step by step all work shown answer and please show all calculations and how you got answer and make it very detailed all work shown please.
Discuss the manner in which an analyst would compare the relative profitability of the two potato chip segments.
A persone has a choice between an apple or an orange. the persone chooses the apple. Elucidate what is the opportunity cost of choosing the apple.
The price of pizza can be expressed in terms of gallons of root beer. What is the highest price at which pizza can be traded that would make both roommates better off? What is the lowest price? Explain.
what might prompt the government to establish this price ceiling? next suppose that the government establishes a price floor of $4.60 for wheat. what will be the main effects of this price floor?
Point out which costs in the preceding question are considered "relevant" and which are considered "irrelevant" to a business decision. Explain why.
Imagine you are a manager for the good or service used above. From the results of the regression equation, suggest strategies to either maintain demand.
Illustrate what economic cost will an owner of a family-run business or farm likely overlook when computing their "profits".
Illustrate what is the probability that a randomly selected hair dryer will be in working condition for more than 60 months.
Sketch a simple T-account for First National Bank which has $5,000 of deposits, a required reserve ratio of 10 percent, and excess reserves of $300. Make sure you balance sheet balances.
Discuss some of the decisions that you must make in the short run and what might you consider to be your "fixed factor"
A central bank that adopts a fixed exchange rate system may sacrifice its monetary autonomy in setting its domestic monetary policy.
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