week 6f orum PERCEPTION – nursing writers
June 24, 2022
social work
June 24, 2022

[ad_1]

Review Questions for Final Examination1. Explain David Ricardo’s theory of income distribution and economic growth. How and whydid economic growth, in the absence of international trade and government, lead to changingshares of wages, rent, and profit? How would these shares change? Why? What would happento the economy, in the long run? Elaborate.2. Explain David Ricardo’s labor theory of value. Why did he think this was an improvementover Adam Smith’s contradictory comments on the theory of value? What were Smith’s ideason the theory of value? Elaborate.3. Explain Karl Marx’s labor theory of value. Be Sure to comment on the distinction he makesbetween labor and labor power. Also, explain the relationship between the rate of surplusvalue, the organic composition of capital, and the rate of profit. Elaborate.4. What did Leon Walras mean when he claimed that market systems tend to move toward ageneral equilibrium? What are the properties of a general equilibrium? In what sense is hisconception of an equilibrium timeless? Is his theory compatible with the Classical idea thatmarket prices converge toward their natural levels? Elaborate.5. Explain Thorstein Veblen’s theory of consumption. Does he believe that economic behavior –such as consumption, is driven by utilitarian calculations or by socio-cultural factors? What isthe point of conspicuous consumption? What is emulative consumption? What role do envyand invidious distinctions play in this process? What does this imply for the presumed efficiencyof a capitalist society? Elaborate.6. Explain John Maynard Keynes’s concept of the effective demand for labor. How doesKeynes’s theory differ from the Neoclassical theory of the labor market? Elaborate.

 
. TODAY AND GET AN AMAZING DISCOUNT

The post Explain John Maynard Keynes’s concept of the effective demand for labor. How does Keynes’s theory differ from the Neoclassical theory of the labor market? Elaborate. appeared first on Term Paper Tutors.

[ad_2]

Source link

 

"Is this question part of your assignment? We Can Help!"

Essay Writing Service
ORDER NOW