economics‚ there are two main theories: Keynesian economics and Classical economics. Each approach to economics has a different take on monetary policy‚ consumer behavior‚ and last but not least‚ government spending. Let us first look into classical economics. The basis of the Classical Theory of Economics is self-regulation. Supporters believe that the economy is able to maintain its-self and is always capable of achieving the natural level of real GDP. While circumstances do occasionally arise
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In this experiment‚ equilibrium will be examines in the reaction beteween the iron (III) ion and the thiocyanate ion: Fe3+ (aq) + SCN- (aq) ------ FeSCN2+ (aq) The FeSCN2+ complex ion has a blood red color while the iron and the thiocyanate ion are colorless. Therefore‚ the shift in the reaction can followed by noting a change in the intensity of the clood red color‚ which indicates a change in the concentration of the complex ion FeSCN2+. If the reaction shifts to the right‚ the blood red color
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Nash Equilibrium and Dominant Strategies Nash Equilibrium is a term used in game theory to describe an equilibrium where each player’s strategy is optimal given the strategies of all other players. A Nash Equilibrium exists when there is no unilateral profitable deviation from any of the players involved. In other words‚ no player in the game would take a different action as long as every other player remains the same. Nash Equilibria are self-enforcing; when players are at a Nash Equilibrium they
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Thiocyanoiron(III)‚ FeSCN+2 Dr. Fred Omega Garces Chemistry 201 Miramar College Chemical Equilibrium: Finding the Formation Constant of FeSCN2+ (aq) Fe3 +(aq) iron(III) + SCN–(aq) FeSCN2+(aq) D thiocyanate thiocyanoiron(III) kf = € FeSCN2 + [ ] Fe +3 [SCN− ] [ ] Objective The purpose of this experiment is to determine the constant formation‚ Kf‚ (equilibrium constant) for the formation of thiocyanoiron(III). Fe3+ (aq) + SCN-(aq) Kf D
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1. From the definition of GDP we arrive at the following expression: c + i + g + x-m = y = c + s + t Discuss the three important economic relationships that can be derived from this expression related to the definition of GDP and explain each carefully. The expression above depicts two different ways to come up with real GDP for a country. The left side of the expression explains expenditure side of computing real GDP which can be rewritten as: y = c + i + g +x – m In real terms‚ it could
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SPECIAL SENSES AUDITION & EQUILIBRIUM Chapter 15 HEARING • Textbook: Pages 570-579 • Review Questions: #19-23 EQUILIBRIUM • Textbook: Pages 580-583 • Review Questions: #24-25‚ 29 THE EAR – AUDITION & EQUILIBRIUM • Outer‚ Middle‚ Inner – Outer + middle: hearing structures – Inner: hearing + equilibrium structures • Audition – sound vibrations move fluids to stimulate hearing receptors • Equilibrium – head movements disturb fluids surrounding equilibrium receptors Figure 15.24a Structure of
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Anand Kararia ECN - 211 July 15‚ 2013 Keynesian vs Classical Economics Keynesian vs Classical Economics Adam Smith and John Maynard Keynes‚ two of the greatest economists ever‚ had two very different ways of looking at the economy. Adam Smith; born June 5‚ 1723‚ was a believer in market economics. Smith believed that the people are usually best left to their own decisions‚ and concluded that the economy would prosper with the elimination of government involvement. Adam Smith published
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The macro environment Introduction Marketing’s role is to match the capabilities and resources within the organisation with market opportunities external to the organisation. Understanding customer needs is central to achieving this aim‚ but marketers must also be aware of factors that can cause customer needs to evolve. A change in customer needs will impact upon the organisation’s ability to serve its customers. This means that marketers have to be knowledgeable about what is happening in the
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Market Equilibrium Process ECO/560 August 1‚ 2012 David Flesh Market Equilibrium Process Managers must understand the market equilibrium process to make a proper determination on their products. In this paper this author will analyze the law of demand‚ determinants of demand law of supply‚ determinants of supply‚ market equilibrium‚ changes in equilibrium‚ Kellogg’s equilibrium analysis‚ efficient market theory‚ and surplus and shortage. Law of Supply and Demand In business there must be
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Abstract Chemical equilibrium occurs when a reversible reaction is happening forward and backward‚ at the same time by the same amount‚ is equal. Two procedures were made. First is the Effect of Concentration on Equilibrium. The solution became orange when it was diluted with ammonium hydroxide and the solution became yellow when water was added to the solution. In the second‚ Effect of Temperature on Equilibrium‚ the solution turned into a light brown gas when it was placed in the refrigerator
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