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Слайды и текст этой презентации


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Synopsis of Adam Smith and John Maynard Keynes By Emma Shanley
Описание слайда:
Synopsis of Adam Smith and John Maynard Keynes By Emma Shanley

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Adam Smith Scottish Economist 1723-1790 Born in Kirkcaldy, Scotland 5 June 1723 School in Kirkcaldy 1737—University of Glasgow Studied at Oxford...
Описание слайда:
Adam Smith Scottish Economist 1723-1790 Born in Kirkcaldy, Scotland 5 June 1723 School in Kirkcaldy 1737—University of Glasgow Studied at Oxford University 1740-1747 Lectured in Edinburgh and Glasgow University between 1748 to 1763. Author of The Publication “The Wealth of the Nations”

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The Power of the Invisible Hand Pursue individual interest Result: Benefit society in general E.g. set up business for profit and create employment...
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The Power of the Invisible Hand Pursue individual interest Result: Benefit society in general E.g. set up business for profit and create employment for people at the same time.

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Laissez-Faire Promote free trade Build up the infrastructure of the country Provide a legal system Defend the country
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Laissez-Faire Promote free trade Build up the infrastructure of the country Provide a legal system Defend the country

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Productive and Non-productive Labour Productive Produced goods for sale Making money to reinvest E.g. Baker
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Productive and Non-productive Labour Productive Produced goods for sale Making money to reinvest E.g. Baker

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The Labour Theory of Value Distinguished between value in use and value in exchange. See my example below.
Описание слайда:
The Labour Theory of Value Distinguished between value in use and value in exchange. See my example below.

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The Canons of Taxation Equality– Tax payments should be proportional to income Certainty– Tax liabilities should be clear and certain Convenience:...
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The Canons of Taxation Equality– Tax payments should be proportional to income Certainty– Tax liabilities should be clear and certain Convenience: Taxes should be collected in a manner convenient for taxpayer Economy – Taxes should not be expensive to collect and should not discourage business.

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The Division of Labour Improve the productiveness of labour. For instance, the making of a single pin involves eighteen separate operations, which...
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The Division of Labour Improve the productiveness of labour. For instance, the making of a single pin involves eighteen separate operations, which are entrusted to eighteen separate workmen; and the result is, that whereas one man working alone could make perhaps only twenty pins in a day, several men working together, on the principle of division of labour, can make several thousands of pins per man in one day.

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Exam Questions Examples
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Exam Questions Examples

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John Maynard Keynes British Economist 1883 - 1946 Born in Cambridge, England Son of John Neville Keynes Professor of Economics at Cambridge Won a...
Описание слайда:
John Maynard Keynes British Economist 1883 - 1946 Born in Cambridge, England Son of John Neville Keynes Professor of Economics at Cambridge Won a scholarship to Eton and later to Kings College Cambridge Lectured at Kings College from 1908

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Publications A Treatise on Money – 1930 Bestseller The General Theory of Employment, Interest and Money - 1936
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Publications A Treatise on Money – 1930 Bestseller The General Theory of Employment, Interest and Money - 1936

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Fiscal Policy
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Fiscal Policy

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The Theory of the Multiplier Injection of money into a business. Creates more income than the amount invested. The formula for the Multiplier is as...
Описание слайда:
The Theory of the Multiplier Injection of money into a business. Creates more income than the amount invested. The formula for the Multiplier is as follows: 1 1 – MPC + MPM + MPT

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The Liquidity Preference Theory of Interest Rates
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The Liquidity Preference Theory of Interest Rates

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Saving and Investments Savings and Investments were not equal to each other. Savings were greater than the amount that entrepreneurs are willing to...
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Saving and Investments Savings and Investments were not equal to each other. Savings were greater than the amount that entrepreneurs are willing to invest. Causes underemployment in the economy.

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Exam Question Examples
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Exam Question Examples

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The End
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The End



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