In the late afternoon of a sunny day, Jack sat under a spreading, umbrella-like tree on a campus hill studying his economics textbook and pondering on a problem assigned to him. Jack scratched his head and began to yawn and gaze into the distance.<\/p>\n
Then, Jill walked barefoot up the hill on the verdant grass. \u201cYou look puzzled, Jack. What\u2019s up,\u201d she said with a big dimpled smile.<\/p>\n
\u201cI can\u2019t figure out this economics problem professor Thrombastus von Vogelkopf assigned me,\u201d Jack wailed.<\/p>\n
\u201cTell me about it,\u201d offered Jill and sat down, pulling up the legs of her tight jeans to get comfortable.<\/p>\n
\u201cWell, in this problem there is a Maya Insecurities Corp. which sells papers it calls insecurities, and last year they had a turnover of one type of insecurity to the value of 23,887.09 dollars. This year, sales of the \u00a0insecurity rose to 43,445.89 dollars. So the professor wants me to figure out how much the insecurity concerned costs, and how many of it were sold each year,\u201d Jack explained in frustration.<\/p>\n
What do you think about that, Jill? Any ideas?\u201d he moaned.<\/p>\n
\u201cDoesn\u2019t the professor like you, Jack,\u201d said Jill with a sympathetic tone. \u201cWhat did you do or say to him, Jack?\u201d she said with a knowing look.<\/p>\n
\u201cWell, I did kind of say that ever since the gold standard was dropped modern economic theory, practice and structure can be compared to a house of cards and a Ponzi scheme on a large scale promoted and taught by unscrupulous types with little concern for the human race, and that it would eventually lead to a big crash causing a grand depression and large-scale suffering \u2013 even another world war,\u201d said Jack sincerely.<\/p>\n
\u201cI told him that incorruptible gold is the metal of the powerful Sun, imaginary values are the stock in trade of the deceptive Moon, where justice is a forgotten concept,\u201d explained Jack. \u201cFrom the look on his face, I believe he didn\u2019t appreciate my point of view,\u201d he said, shrugging his shoulders.<\/p>\n
\u201cOk, I get the picture,\u201d said Jill, and burst out laughing. \u201cI am taking a class in number theory, Jack, where I have learned things that can help you with this problem. And what will you give me in exchange for this, Jack?\u201d She briefly pursed her lips and arched an eyebrow.<\/p>\n
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Can you help Jill work out Jack\u2019s economics problem and find the value and amount of the insecurity sold for each of these years?<\/em><\/p>\nShare this:<\/h3>