1. Friedrich von Hayek------------Less government intervention gives people more economic freedom.
To Hayek, less government intervention implied more economic freedom. He trusted that when individuals are allowed to pick, the economy runs all the more proficiently. In the United States, the most grounded supporters of Hayek's thoughts were a gathering of business analysts at the University of Chicago. Known as the "Chicago School of Economics," this inexactly shaped, informal gathering of financial specialists was for the most part connected with free market libertarianism. The name alludes to financial specialists who got their tutoring in the Economics Department at the University of Chicago. To date, almost 50% of all Nobel Prizes in Economics have been won by analysts with connections to Chicago.
2. Milton Friedman---------Government should not control the money supply.
Milton Friedman saw the 1920s as years of indispensable and sustainable growth in the economy. Amid this period the Federal Reserve outstandingly extended the cash supply. This development was not reflected in an expansion in the normal cost level, on the grounds that fiscal powers were killed by simultaneous increments in efficiency.
3. John Maynard Keynes----------Government intervention is necessary for stability.
John Maynard Keynes made the hypothetical contentions for another kind of monetary system: government intervention used to smooth out the business cycle. Keynes died in 1946, yet his thoughts made the Keynesian school of financial aspects and prompted the improvement of macroeconomics. Keynes' belief system overwhelmed the financial worldview from 1945 until the late 1970s. As indicated by Keynes, free markets don't generally contain self-adjusting components; some of the time government intervention is important to limit downturns and advance development. He trusted that without state help, the blasts and busts in the business cycle could winding wild.
4. Adam Smith------------Competition is a regulatory force.
A market economy is a monetary framework in which people claim the greater part of the assets - land, work, and capital - and control their utilization through willful choices made in the commercial center. It is a framework in which the legislature assumes a little role. In this kind of economy, two powers - self-interest and competition - assume a critical job. The role of self interest and competition was depicted by financial specialist Adam Smith more than 200 years prior and still fills in as basic to our comprehension of how showcase economies work.
Answer:
Explanation:
Any goal it's your opinion to be a successful person. Just never give then you will get it.
Answer:
Cherry:
S = 0.01652
standard deviation = 0.128530152
Straw:
S =0.0478
And the standard deviation = 0.218632111
Explanation:
<u>Cherry Jalopies:</u>
variance:
∑ (n1 - median)2
First we calcualte the median:
(0.16 + 0.11 - 0.01 + 0.06 + 0.11)/5 = 0.086
Then we calculate the variance:
which is each the sum of return minus the median squared
S = 0.01652
standard deviation: √S = √0.01652 = 0.128530152
<u>Straw</u>
we do the same procedure:
(0.16+0.23 -0.06+0.06+0.11)/5 = 0.1
Then we do the variance:
0.0478
And the standard deviation:√S = √0.0478 = 0.218632111
Answer:
- <em>The annual annuity payment (PMT) will be </em><u>$750.00</u>
Explanation:
The value of a <em>annuity payment</em>, A, is equal to the present value of the future payments.
When the interest rate,r, and the <em>annual annuity payment (PMT) </em>remain constant over the entire life of the annuity, the formula for the value of the annuity is:
![A=PMT\times \bigg[\dfrac{1}{r}-\dfrac{1}{r(1+r)^{t}}\bigg]](https://tex.z-dn.net/?f=A%3DPMT%5Ctimes%20%5Cbigg%5B%5Cdfrac%7B1%7D%7Br%7D-%5Cdfrac%7B1%7D%7Br%281%2Br%29%5E%7Bt%7D%7D%5Cbigg%5D)
To caculate PMT substitute:
- A = $3,806.77
- r = 5.00% = 0.05
- t = 6 years
![\$3,806.77=PMT\times \bigg[\dfrac{1}{0.05}-\dfrac{1}{0.05(1+0.05)^{6}}\bigg]](https://tex.z-dn.net/?f=%5C%243%2C806.77%3DPMT%5Ctimes%20%5Cbigg%5B%5Cdfrac%7B1%7D%7B0.05%7D-%5Cdfrac%7B1%7D%7B0.05%281%2B0.05%29%5E%7B6%7D%7D%5Cbigg%5D)
Compute and solve for PMT:
![\$3,806.77=PMT\times \bigg[20-14.9243079\bigg]\\\\\\PMT=\$3,806.77/5.07569207=\$750.00](https://tex.z-dn.net/?f=%5C%243%2C806.77%3DPMT%5Ctimes%20%5Cbigg%5B20-14.9243079%5Cbigg%5D%5C%5C%5C%5C%5C%5CPMT%3D%5C%243%2C806.77%2F5.07569207%3D%5C%24750.00)
Answer:
the percentage change in quantity demanded is less than the percentage change in price (in absolute value).
Explanation:
Inelastic demand is when the demand for a product remains relatively constant, even if its price changes. Goods and services considered essential have inelastic demand. Foods stuff and petrol will have a constant demand regardless of their price levels.
A small percentage change in the price of an inelastic good or service will have minimal changes in its demand. For example, drinking water is an essential commodity. A small change in its price will not have any significant change in demand because people will need to drink water regardless of its price. Therefore, a small percentage change in price causes a lesser percentage change in quantity demanded.
