Answer and Explanation:
Phelps criticized Friedman's position, because he said it was totally irrelevant to analyze the tax functions of inflation without assessing product demand, as Friedman suggested in his theory. He stated that this would only be possible if there was a way to predict an optimal rate of inflation in different situations of demand and supply, otherwise, in Phelps' words it would be the same as "Professor Friedman gave us Hamlet without a prince".
Phelps' positioning would be better considered by the RBC model, since this model is based on real and not imaginary facts.
Answer:
Key Takeaways
Explanation:
Market economies utilize private ownership of the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. In reality, all economies blend aspects of the two.
I can give you my take on it:
In command economies the quantity and more importantly the prize of the products is decided by the government and not by the people in production. As a result, people in the production can't have the motivation of producing more, as they won't benefit from it. So command economy encourages low motivation among the workers (i believe this was the case in the Eastern Block)
Answer:
Projectitis.
Explanation:
Projectitis is, as the exercise describes, a sort of obsession with a project that makes the individual ignore the rest of the projects, the organization, etc. It's an isolation inside a project. The person that is experiencing this phenomenon is spending more time documenting project tasks, collecting performance measurements, recording project task information ,etc, rather than being accomplishing meaningful work.
The correct answer for the question that is being presented above is this one: "d. all of the above." The following that is influenced by culture includes: quality of life (the way your life's status in the society), demographics (the quality of people around the area), <span>spiritual life (the way you live your faith).</span>
