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Study Case: Why you've Never Heard of the Great Depression of 1920Application: The video presents arguments against Keynesian Approach to managing the economy and makes the case for hands-off approach based on the Austrian Theory of Business Cycle.Watch the "The Great Depression: What We Can Learn from It Today" https://www.youtube.com/watch?v=czcUmnsprQIPresented by Thomas E. Woods, Jr. in 2009 and answer the following questions:According to Thomas E. Woods, what factors contributed to the economy recovering from the 1920 Great Depression?Explain why the school of Austrian Economics dislike Interventions, say by the Federal Reserve in the economy to manage business cycles? Explain how this fundamental position of the Austrian school is related to the Austrian Business Cycle theory.In your view, what are the short term and long term advantages/disadvantages of the hands-off approach to the economic business cycle. Explain your view.
In Risky business one needs to perform a thorough research. In fact more than the routine research. Especially, if one has quite a bit at stake! Any comments or interesting story to share? Do you have any ideas about a News venture that you like to s..
Are all seats sold? If not, wouldn't the airline make more money by selling more seats at a lower price - Explain the conditions necessary for a firm to practice 3rd degree price discrimination and using airline conditions as examples.
you are responsible for economic policymaking in your country. your desire is to eliminate inflation keeping prices
The market for a certain machine part is served by a dominant firm with competitive fring. Because of the development of new,? More flexible machine tools, firms that previously specialized in the production of other machine parts acquire the capacit..
Add an indifference curve to your graph and label the point of consumer equilibrium. Indicate Chris's consumption level of A and B. Explain why this is a consumer equilibrium. What can you say about Chris's total utility at this equilibrium?
What are some key micro economic factors for making profits in the healthcare field?
Research the elasticity of beef and eggs in regards to price changes. How do supply, demand, and price control interact to affect the equilibrium price of eggs How do these factors differ in impacting the price of beef
imagine that it is the year 2199. technology has progressed at an incredible pace. the latest discovery is the
Find the market price, the quantity produce and the profit of each firm and what is the number of firms in the long run equilibrium?
Describe the difference between a diminishing marginal product of labor and a negative marginal product of labor. Why would a profit-maximizing firm always choose to operate where the marginal product of labor is decreasing (but not negative)?
Which of the following correctly characterizes the shape of a production-possibilities curve? A) A straight line indicating the law of increasing opportunity costs applies
suppose south korea can produce 100 computer chips with 10 hours of labor input and 50 bed linens with 6 hours of labor
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