Principles and Problems of Modern Economics |
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Page 15
... matter of political controversy at all . Therefore , economists have sought to develop a way out of the situation of conflicting values or opinions , or that of conflicting interests . We have noted that most significant changes in ...
... matter of political controversy at all . Therefore , economists have sought to develop a way out of the situation of conflicting values or opinions , or that of conflicting interests . We have noted that most significant changes in ...
Page 289
... matters , but the ratio of value between the commodities that is expressed in terms of money . The hat is worth twice as much as the book . It does not matter what units we use to express this fact . We could use shillings , francs ...
... matters , but the ratio of value between the commodities that is expressed in terms of money . The hat is worth twice as much as the book . It does not matter what units we use to express this fact . We could use shillings , francs ...
Page 320
... matter , we must study the matter of money more deeply , and look at the matter of monetary theory . SUMMARY In a modern economy only a small fraction of all the payments are made by means of coins and currency ; bank deposits and ...
... matter , we must study the matter of money more deeply , and look at the matter of monetary theory . SUMMARY In a modern economy only a small fraction of all the payments are made by means of coins and currency ; bank deposits and ...
Contents
The Development of Modern Economic Problems | 23 |
Economic | 39 |
A Simple Model of the Economy | 53 |
Copyright | |
57 other sections not shown
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Adam Smith agricultural amount areas assets average bank become billion capital commodity consumer consumption corporation cost curve cycle debt demand curve depression diagram discussion dollar economists economy effect efficiency elasticity enterprise equal equilibrium example expenditures exports factor factors of production farmers Federal Reserve Figure firm full employment gold higher important increase indifference curve individual industry inelastic inflation interest rate investment labor large number less manufacturing marginal cost marginal product marginal revenue means ment mercantilists merely monetary monopolistic competition multiplier national income operations organized output payments percent problem profits purchase pure competition quantity ratio real income reduce rent reserve ratios result saving schedule sell situation slope social spending sumer supply and demand supply curve surplus tariff taxes tend theory tion trade union United wages workers