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What does John Keynes mean by this quote from his General Theory? "The ideas of economists and political philosophers, both when they are right and when they are wrong ar emore powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually slaves of some defunct economist... I am sure that the power of vested interests is vastly exaggerated compared with the encroachment od ideas. Not, indeed, immediately, but after a certain interval..." (Keynes, The General Theory, p.383-384)
Marko, Inc. is considering the purchase of ABC Co. Marko believes that ABC Co. can generate cash flows of $5,200, $10,200, and $16,400 over the next three years, respectively. After that time, they feel the business will be worthless. Marko has deter..
Marginal cost is the change in _____ cost resulting from a one-unit change in _____. Suppose the marginal cost curve in the short run first decreases and then increases. If marginal cost is decreasing, _____ must be _____ and _____ must be _____.
?Discuss the causes of the Great Depresion in terms of what you know about the economy today. Do you think another Great Depression is possible? Why or why not?
Paula is considering going to law school. If she does, she will spend $60,000 on tuition and books to get a college education (during the first time period), $120,000 on tuition and books to get a law degree (during the second time period), and her l..
You are standing in line. Think about what you would be doing if you are not in this line. The alternatives are infinite and computing the cost of them all is impossible. Discuss the opportunity costs of natural disasters. Calculate (in $$$) your opp..
A firm that has the long-run cost curves shown in the graph above would be able to do or have the following, except:
Country Analysis: Essay Using the business and country selected in Unit I, prepare a Word document of the political structure and economic environment, including important political events that may lead to success or high risk due to business expansi..
how the economy moves to a new equilibrium. Focus on short-run as well as long-run equilibrium.
Consider your own workplace. Do you work for a company, the military, or at a nonprofits institution such as a hospital? Describe your organization's buying center and how it adds value by procuring what your organization needs to conduct its busines..
An eccentric scientist invents a very useful gadget and makes huge profits. Unfortunately, he is so preoccupied with his newly found fame and fortune that he forgot to secure a patent for his special product. What can be expected to happen to the sup..
President says that wages probably should be cut so that workers could not afford to miss so much work. Evaluate two views utilizing income and substitution effects in your analysis.
A Systems Model of Politics and Policy in Birkland, assess the strengths and weaknesses of systems models. For every weakness that you identify, recommend how policy makers can overcome the weakness.
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