Quantity theory of money

cut in over a year. The Federal Reserve took significant actions in response to the financial crisis to help stabilize the U.S. economy and financial system. They reduced the level of short-term interest rates to near zero and purchased large quantities of longer-term Treasury and government agency securities in an effort to reduce longer-term interest rates. Low interest rates help households and businesses finance new spending and help support the prices of many other assets, such as stocks…

sociologists such as Thorstein Veblen and Bourdieu. These two sociologists sought to understand and explain consumer behavior during their lifetime and maintained that their sociological theories regarding consumerism were bound to persist in the future. Veblen is commonly known in the marketing and economics domains with his theory regarding the leisure class whereas Bourdieu’s concepts have been used widely in contemporary America in the explanation of consumer behavior among young people.…

Question 1a: Thorstein Veblen came up with the theory of the Leisure Class in 1890s. With regards to consumer behaviour, his line of thought attempted to reject the rational and maximizing behaviour as well as the emulation of a powerful force. His perception of the contemporary tribal societies was based on two major categories. The first one was based on the believe that survival is continuous work. Such societies reflected a strong communal benevolence and immense cooperation amongst the…

why large quantities of people are involved in drug usage despite knowing the negative consequences to themselves? Well sociology is a field where professionals consider why people do things rather than focusing on the who, what and when questions when gathering information. Max Weber was a German theorist in sociologist who also produced works in economic, law, philosophy and history fields. He lived from 1864 to 1920 and, in that lifespan, Weber shared many sociological views and theories to…

There are three basic indicators of diet quality of a population or household. These indicators are dietary diversity, percentage of food energy from staples, and quantity of food consumed daily per capita or per adult equivalent. Therefore, dietary diversity is one of the three basic indicators of diet quality of household. Dietary diversity reflects how varied the foods typically consumed by a household are (Smith…

equally shared by the people. In this system, the central authority dictates the incomes and quantity of production which is then distributed equally to everyone in the given society, ensuring that everyone remains in the same social and financial class. For this to occur, the government ultimately owns all business meaning that no one is able to run their own business or produce their own goods in order to earn money. This system of government, however, proves to have its negatives. In a…

The theory of The Fortune at the Bottom of the Pyramid was firstly proposed in 2004 by C.K. Prahalad of University of Michigan and numerous papers and books followed. The principle is that the poor in the world make up 4 billion people and although they survive on 3 $ per day due to their large numbers they are really large potential market. The theory propose that by doing business with the poor there is mutual benefit for both groups: the company make a profit and poverty is relieved.…

the vehicle. In the post-purchase stage, he the measures or estimate the performance of the car against the expectations he had before buying the car. In this stage, Andrew is either satisfied or dissatisfied. 2.4. CONSUMER BEHAVIOUR AND UTILITY THEORY 2.4.1. Law of Diminishing Marginal Utility This is the additional satisfaction a consumer gets by buying an additional unit. A good example to explain this would be if you go to a coffee shop to drink a cup of coffee. The price of a cup of…

distinguish between the theories of punishment illustrated by Jeremy Bentham and Immanuel Kant and will explain why I oppose Jeremy Bentham’s utilitarian approach on punishment. Although Bentham and Kant did not have a concrete answer to the methods of issuing punishment, Bentham’s theory consists of more questionable and empty statements. Kant, in my opinion, has a more realistic view of life-based on the innate actions of human beings as opposed to Bentham utilitarian theory. Therefore, it is…

urban areas often do not have access to locally-grown food grown by independent farmers. City dwellers typically visit local grocery stores or markets because they are easily accessible and less expensive than purchasing locally-grown produce (time is money, after all.) There are also many different definitions of local depending on the size of specific areas; a “local” area in Washington may not hold the same definition in a larger area, like Texas. Additionally 80 percent of the United States…