Congress created Federal Reserve notes to provide the nation with an elastic supply of currency.
2.
All national banks were required to join the system and Congress created Federal Reserve notes to provide the nation with an elastic supply of currency.
3.
In competitive markets, a firm faces a perfectly elastic supply of labour which corresponds with the wage rate and the marginal resource cost of labour ( W = S L = MFC L ).
4.
More important, however, must have been the advantages of Amsterdam, that already gave it a strong position in the Baltic trades : elastic supplies of shipping and labor, low transaction costs, and efficient markets.
5.
The Ricardian socialists, such as Thomas Hodgskin and Charles Hall, were based on the work of David Ricardo and reasoned that the equilibrium value of commodities approximated producer prices when those commodities were in elastic supply, and that these producer prices corresponded to the embodied labor.
6.
They reasoned that the equilibrium value of commodities approximated prices charged by the producer when those commodities were in elastic supply, and that these producer prices corresponded to the embodied labour the cost of the labour ( essentially the wages paid ) that was required to produce the commodities.
7.
They reasoned that the equilibrium value of commodities approximated to prices charged by the producer when those commodities were in elastic supply, and that these producer prices corresponded to the embodied labor & mdash; the cost of the labor ( essentially the wages paid ) that was required to produce the commodities.
8.
Investment in these expeditions was a very high-risk venture, not only because of the usual dangers of piracy, disease and shipwreck, but also because the interplay of inelastic demand and relatively elastic supply of spices could make prices tumble at just the wrong moment, thereby ruining prospects of profitability.
9.
Hawtrey points to a defect in the theory of an elastic supply of labour based on marginal utilities of product and effort, in " Trade and Credit " ( 1928 ) . while a difference between the marginal utility of the product and the disutility of effort may prompt an additional supply of labour " in the simple case of a man working on his own account " ( 1928, p . 148 ), Hawtrey argues, this is not the general case since : " the decision as to the output to be undertaken is in the hands of a limited number of employers, and the workmen in the industry are passively employed by them for the customary hours at the prevailing rates of wages " ( 1928, p . 149 ).
मोबाइल