Edward Jay Epstein The Hollywood Economist TEENS AND CAR CRASHES GO TOGETHER After Hollywood lost its audience to television in the 1950s‚ it had to reinvent itself. If it could no longer count on habitual moviegoers to fill theaters routinely‚ it would go into the business of audience-creation. The means studios found to recruit audiences for each and every movie they released was national TV advertising. The tactic that evolved by the 1990s was bombarding a target audience with very expensive
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usually unrealistic‚ but it is simple to learn and it gives useful insights about the real world. 3. Should an economic model describe reality exactly? Answer: No. A model is a highly simplified representation of a more complicated reality. Economists use models to study economic issues. 4. Draw and explain a production of possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economy’s cow population? Answer: Curve
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Walmart: Every Day Low Prices In 1962 the company’s founder‚ Sam Walton‚ opened the first Walmart department store. Since then Walmart has grown exponentially and has established itself not only as one of America’s largest corporation‚ but also as one of the largest public corporations in the world. Walmart’s business model and cookie-cutter store model has allowed the company to gain a tight grip around the average American consumer. Walmart has grown successful in many other countries around
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Keynes and the Classical Economists: The Early Debate on Policy Activism LEAR N I NG OBJ ECTIVE S 1. Discuss why the classical economists believed that a market economy would automatically tend toward full employment. 2. Explain why Keynes rejected the views of the classical economists. 3. Compare the views of Keynes and the classical economists with regard to the proper role of government. s you discovered in Chapter 10‚ unemployment and inflation impose costs on our society. Today‚ many Americans
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| Environmentalists | Economists | Global | 1) Developing countries most damaged: * - Relocated production * - Outdated equipment * | 1) Industrialization +Diversification of the economy * Welfare 2) Relocated production stimulates economic growth and thus assists socio-economic equality of the nations | | 2) Developed countries also suffer | 3) economic forces that create the wealth of developed countries can solve their environmental troubles to solve real environmental
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Economist: Robert Mundell [pic] Early Life Robert A. Mundell was born in Canada in 1932. It was here that he started his academic life in a one-room schoolhouse. After completing his undergraduate education at the University of British Columbia and the University of Washington‚ he began his postgraduate studies at the London School of Economics. Mundell received his Ph.D. from M.I.T. in 1956 with a thesis on international capital movements. After having
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Relevance of Dr. B.R. Ambedkar’s Economic Ideas in the current Scenario of India Dr. M.R.Singariya1 Dr. S.C.Naval2. Abstract Dr. B.R Ambedkar was among the most outstanding intellectuals of India in the 20th century. His work in economics is noteworthy. His views deals with public finance and agriculture are landmark in the economics. Ambedkar’s commitment was internal stability‚ and he was convinced that only an automatic system based on gold standard with gold currency could achieve this desirable
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Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013 was awarded jointly to Eugene F. Fama‚ Robert J. Shiller and Lars Peter Hansen "for their empirical analysis of asset prices". The first one of them Eugene Fama is an American economist born in 1939 and working at the University of Chicago. He is the author of the theory that asset prices perfectly reflect all available information. Fama was mainly honored for his researches done in 1960’s and his theory that asset prices are “extremely
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incentives in all aspects of our lives‚ such as‚ home where you do your chores and get rewarded‚ or at work when you do extra jobs to get a promotion or raise‚ or at school where you do some extra credit for a better grade. As economist Steven Landsburg writes in The Armchair Economist (1991‚ p 3)‚ “Most of economics can be summarized in four words: ‘People respond to incentives.’ The rest is commentary.” People care about their employers‚ but they also care about their families‚ hobbies‚ gardens‚ and
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Chapter 1 Thinking as an economist Answers to review questions 1 They probably mean that‚ given the competing demands on their limited resources‚ there are other things (a holiday‚ private school fees‚ a new computer) that they choose to spend their income on rather than a plasma screen television. 2 Your friend probably means that your tennis game will improve faster if you take individual lessons instead of group lessons. However‚ individual lessons are also more costly than group lessons‚ so
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