Question
In: Economics
What did classical economists say about prices in terms of the labor theory of value? Did...
What did classical economists say about prices in terms of the
labor theory of value? Did Karl Marx expand or differ on this? How
did Alfred Marshall see prices?
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
Answer all parts of this question in terms of Marx’s labor theory of value. The labor...
Answer all parts of this question in terms of Marx’s labor
theory of value. The labor value of the wages necessary to produce
a ton of bricks is 5 hours. The labor value of the constant capital
necessary to produce a ton of bricks is 4 hours. The labor value of
the surplus which goes to the capitalist owner of the brick factory
is 3 hours for every ton of bricks.
a. What is the labor value of a ton...
What is the labor theory of value? What are the problems with this theory?
What is the labor theory of value? What are the problems with
this theory?
Classical economists belief that prices and quantities adjust to the changes in the forces of supply...
Classical economists belief that prices and quantities adjust to
the changes in the forces of supply and demand and that the economy
produces its potential output in the long run. On the contrary,
Keynesian economists believe because of price and wage rigidities
the economy’s equilibrium output in the long run may be less than
its potential output. What is price-wage rigidity? Do you agree
with Keynes assessment that wage-price rigidity requires
government’s involvement in the markets? Why? Why not?
Classical economists belief that prices and quantities adjust to the changes in the forces of supply...
Classical economists belief that prices and quantities adjust to
the changes in the forces of supply and demand and that the economy
produces its potential output in the long run. On the contrary,
Keynesian economists believe because of price and wage rigidities
the economy’s equilibrium output in the long run may be less than
its potential output. What is wage-price rigidity? Do you agree
with Keynes assessment that wage-price rigidity requires
government’s involvement in the markets? Why? Why not?
minimum...
Briefly explain the labor theory of value. Is the labor theory of value consistent with the...
Briefly explain the labor theory of value. Is the labor theory
of value consistent with the supply and demand model developed by
Alfred Marshall?
Briefly contrast the classical economists view and the modern economists view about Economic Stabilization?
Briefly contrast the classical economists view and the
modern economists view about Economic Stabilization?
Discuss the theory of demand for money as discussed by Classical Economists and Post-Keynesian Economist
Discuss the theory of demand for money as discussed by Classical
Economists and Post-Keynesian Economist
What are the characteristics of the classical economy. explain the theories in terms of: price, value,...
What are the characteristics of the classical economy. explain
the theories in terms of: price, value, currency, growth,
distribution. explain the theories of classical economics and Adam
Smith.
What is meant by the Marxist term, “surplus value”? What is the labor theory of value...
What is meant by the Marxist term, “surplus value”? What is the
labor theory of value on which it was based?
Discuss the idea that unemployment is a "non-problem". Jean-Baptiste Say, the classical economists, and some contemporary...
Discuss the idea that unemployment is a "non-problem".
Jean-Baptiste Say, the classical economists, and some
contemporary economists would argue that a discussion of
unemployment is a "non-problem." Discuss the position that France
or Germany really has no "unemployment problem." Hint: examine
union rules, customs, and lifestyles, and compare union-management
bargaining positions in France or Germany with those in Ireland or
Spain.
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