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Explain how Marx's principle may or may not apply to today:
- economics rules everything
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Solved in 3 steps
- In his discussion with Mr. Strawn, Philip Dru agrees that in the present state, Marx's ideal cannot be achieved due to the incentives argument. However, he does say that a solution is possible in the future. According to Dru, how will society overcome the incentives problem? Do you think that his solution will be successful?Why isn’t money considered capital in economics? Which of the following are microeconomic issues? Which are macroeconomic issues? a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold? b. What will cause the nation’s inflation rate to fall c. How does a quota on textile imports affect the textile industry? d. Does a large federal budget deficit reduce the rate of unemployment in the economy? Explain the importance of the ceteris paribus assumption for an economic model. Analyze the positive versus normative arguments in the following case. What statements of positive economics are used to support the requiring of airbags? What normative reasoning is used? Should the Government Require Air Bags? Technological advances continuously provide new high-tech options to save lives that add to the price of cars, such as cameras, radar, and airbags. Airbag advocates say airbags will save lives, and the government should require them in all cars.…Classify each of the following statements as positiveor normative. Explain.a. Society faces a short-run trade-off betweeninflation and unemployment.b. A reduction in the growth rate of the moneysupply will reduce the rate of inflation.c. The Federal Reserve should reduce the growthrate of the money supply.d. Society ought to require welfare recipients to lookfor jobs.e. Lower tax rates encourage more work and moresaving
- How does Marx’s analysis provide insight into the movie China Blue?Q2: Micro VS Macroeconomics? Classify the following questions as Microeconomics or Macroeconomics and provide a justification for your choice. a) How will the market for melons be affected after Hurricane Dean? b) How much will the Trinidadian economy grow this year? c) What are the factors which determine the choice that a person makes between buying a Honda Accord or a Toyota Corolla? d) What will the inflation rate be for Belize?Marx says ““it is not the consciousness of men that determines their being, but, on the contrary, their social being that determines their consciousness”. What does Marx mean?
- what are some other things that the Coke employees who sold the secret recipe to Pepsi should have done if they were better economists and why?Economics is the study of?Micro VS Macroeconomics? Classify the following questions as Microeconomics or Macroeconomics and provide a justification for your choice. a) How will the market for melons be affected after Hurricane Dean? b) How much will the American economy grow this year? c) What are the factors which determine the choice that a person makes between buying a Honda Accord or a Toyota Corolla? d) What will the inflation rate be for Belize?
- Can you confirm that I am correct with these positive and normative statements: Positive statement: When oil production slows in Texas, employment and tax revenues decline, and budget cuts at the state and local levels often follow. (Craymer has estimated that the state loses $85 million per year for every $1 decrease in oil prices.) Normative statement:If Russia agrees to production cuts and COVID-19 goes dormant in the hot summer months, as some experts expect, Texas’ coffers will have time to recover before lawmakers convene in 2021 to write a new budget. Or would this be a normative statement:Experts said Texas is better positioned to handle an oil price collapse today thanks to a diversified economy. The last collapse in oil prices, in 2014, also forced the industry to cut costs and otherwise become more efficient. But University of Texas at Austin energy resources professor Michael Webber said COVID-19 throws an unprecedented economic variable into the mix.Discuss a theory of economics that you identify with - how is this theory applied in real world scenarios?what is economics and what are its branchs? what is the advantage of studying economics? how is economics useful in development of the current world?.