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At present, at Bob's Candle shop, Arjuna and Krishna share the jobs of making molds and making candles. Nonetheless, while Arjuna is best at making molds and Krishna is much better at creating the candles, then: (a) Bob’s shop is experiencing allocative although
Can anybody suggest me the appropriate explanation for given problem regarding normative economics generally. Normative economics is critical while an economist tries to: (i) predict how OPEC's refuse will influenc
Hello guys I want your opinion. Please suggest your answer for following Normative-economics problem. Normative economics: (i) based upon value judgments. (ii) involves statements which are either right or wrong. (
Define one reason that the purchases of recently issued bonds and stocks: (1) just only increase the value of federal funds. (2) Are not economic investments since they are just alternative forms of people’s financial saving? (3) Reduce the prof
Hello guys I want your opinion. Please recommend your view for given Economic Policies and Normative Economics problems. Disagreements in between economists about economic policies most commonly occur from differences within their:
Positive technical statements: (w) need value judgments. (x) should be valid by definition. (y) can be proved and tested or disproved by fact and logic. (z) are the excellent guides in specifying economic policies.
All else equivalent, when the output of one good raises, the output of other goods: (1) Should fall in an underemployed economy. (2) May rise as well when society begins on its PPF. (3) Will drop in an efficient and completely employed economy. (4) Essentially experie
Please help me to solve the problem of Normative Economic Goals that is given below: Almost everybody in the world would favor a normative economic aim that people all over must have: (i) high standards of living.
A thing is termed as a "good" (as opposite to a "bad") when: (w) its use improves human happiness. (x) its production needs capital and labor. (y) its value to society is restricted. (z) this is a service to people, as housecleaning.<
Beneath an idealized version of the pure capitalism, governments would be least probable to offer: (1) Judicial systems to defend private property rights. (2) National defense. (3) Standardized forms of money. (4) Court systems to implement contracts.
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