Quantity theory of money

supports theory X & Y is the one-minute manager stating that managers must be both result-oriented (theory x) and people-oriented (theory y). He states that people and results go hand in hand in order to make the organization successful. B) An example of this would be when the one-minute manager points out the restaurant that provides service (quantity) gets more customers than the other one because it also provides quality products and services. He states that people contribute to both…

Friedman (empirical). In his general theory of employment, interest and money, John Maynard Keynes argued that crisis and instability in the market cannot be sufficiently be mitigated by free market forces. According to his theory, full employment cannot be achieved by the competitive forces in the market. What this implied is that the market needed a third hand of the government to correctly fix the volatilities in the market to stabilize employment, interest rate and money supply. According to…

{f Introduction} The subject of economics holds many theories and laws. One such theory is that of supply and demand. Supply and demand has shown to be a fundamental of economics, explaining a large portion of business and corporation affairs; it is the main support of the market economy. The theory of supply and demand describes the relationship between the supply of a product and the demand for that product. In other words, the law shows the effect that the desire for a product has on its…

and their demand for financial services drives the actions of those at different levels. Micro: This is the backbone of the financial systems which includes financial service providers. These micro-level service providers run the gamut from informal money lenders or savings clubs to commercial banks and encompass everything in-between. Meso. This level includes the basic financial infrastructure and the range of services required to reduce transactions costs, increase accessibility, build…

Health Care When individuals seek medical attention, they consider three things; quality, quantity, and cost. It is nearly impossible to have the best quality, abundant quantity, and low cost of health care at the same time, yet some systems are better than others. Every method of providing health care is flawed to some extent. However, it is necessary to judge health-care systems by how well the health-care institutions actually improve the health of the population. This topic is very complex,…

the price of essential goods or to ensure that products deemed necessary for the economy are supplied sufficiently. Costs of production decrease for the suppliers resulting in lower price for consumers, increasing demand and thus, consumption. In theory, the supply curve for houses will shift vertically downwards by the amount of subsidy given. The shift means more is supplied at every price. As seen from the graph below, if a subsidy by the amount (W-Z) is granted to housing firms, the supply…

strong will to defend his theories despite the population opposing him. Although Copernicus is considered “The Father of Astronomy”, he also had may accomplishments in the economical field. In 1491, Copernicus attended the University of Krakow to study art, mathematics, and economics. Nicolaus Copernicus is credited with creating the Quantity Theory of Money in 1517. His theory basically is the basis of money inflation. The theory says that the circulation and supply of money directly varies…

Thus came about the labour theory of value. “The labour theory of value can be stated simply as the principle that the source of the value added of the mass of commodities produced is the labour expended in producing them”(Foley,1986,P.14). Many economists made the attempt to explain their theories of value. Some thinkers provided an objective measurement of value whereas some provided a more subjective measurement. In this essay I will analyse the different theories of value and also compare…

each a separate countries parallel to each other making them unable to intermingle with each other. The objective of each country is to generate the most money by producing the shapes that are created by us. Every shape is different and worth a different amount of money. Each country has a different set of materials that all vary in worth and quantity. With the…

Milton Friedman was born in Brooklyn, New York on July 31st, 1912. Friedman came from an unwealthy immigrant family and he was the youngest in the family. He grew up in Rahway, New Jersey where he attended school. In 1928, Friedman was given a scholarship to attend Rutgers University. He took the scholarship, and he had originally majored in mathematics until he met a couple professors which inspired him to change his major in economics. Friedman decided to continue his education in graduate…