Search results
Results from the WOW.Com Content Network
In economics the "visible hand" is generally considered to be the macro-fiscal policy of John Keynes that emerged in the 1930s as a remedy for the shortcomings of Adam Smith's "invisible hand" and advocated government intervention in the economy. [4] Actually, Smith already identified the disadvantages of the "invisible hand". [5]
A trial pit (or test pit) is an excavation of ground in order to study or sample the composition and structure of the subsurface, usually dug during a site investigation, a soil survey or a geological survey. Trial pits are dug before the construction. They are dug to determine the geology and the water table of that site.
The General Theory of Employment, Interest and Money is a book by English economist John Maynard Keynes published in February 1936. It caused a profound shift in economic thought, [1] giving macroeconomics a central place in economic theory and contributing much of its terminology [2] – the "Keynesian Revolution".
The booming cities in North America used shovels to dig foundations and basements for the early skyscrapers. One hundred and two steam shovels worked in the decade-long dig of the Panama Canal across the Isthmus of Panama. Of these, seventy-seven were built by Bucyrus; [4] the remainder were Marion shovels. These machines 'moved mountains' in ...
In contrast to Smith's own usage, the "invisible hand" today is often seen as being specifically about the benefits of voluntary transactions in a free market, and is treated as a generalizable rule. Paul Samuelson's comments in his Economics textbook in 1948 made the term popular and gave it a new meaning. The phrase was not originally ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
Construction equipment being used to dig up rocky ground. Although humans are capable of digging in sand and soil using their bare hands, digging is often more easily accomplished with tools. The most basic tool for digging is the shovel. [1] In neolithic times and earlier, a large animal's scapula (shoulder blade) was often used as a crude ...
A shovel test pit (STP) is a standard method for Phase I of an archaeological survey. [1] It is usually a part of the Cultural Resources Management (CRM) methodology and a popular form of rapid archaeological survey in the United States of America and Canada .