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Please help me to solve the problem of normative economics that is given below: Normative economic hypotheses would contain the statement which: (i) Earth consist of five moons composed of blue che
Please help me to solve the problem of economics that is given below: The functions of prices do not contain the use of relative prices like: (w) rationing devices. (x) mediums of exchange. (y) inf
Can anybody advise me the proper explanation for given problem regarding macroeconomics in Economics generally. In macroeconomics, where we examine all things like the: (w) problems of What, How, and For Whom. (x)
A good is scarce when: (1) individuals are willing to pay a positive price for more of this. (2) this is socially but not individually beneficial. (3) individuals are willing to pay to have this not produced. (4) more is obtainable at
In 1776 Adam Smith’s work, The Wealth of Nations, is mainly a description of how: (1) democratic socialism is more efficient than totalitarianism. (2) self interest is coordinated within a market system. (3) barriers to internat
After drivers shift among traffic lanes to exit by a crowded airport till this seems reasonable to expect all exit lines to be similarly time-consuming, economists exemplify the result like an illustration of economic: (i) Equilibrium. (ii) Balance. (iii) Tradeoffs. (
Consider the several possible goods currently producible within the United States, specified our available technologies and resources. When we produced only cat litter and razor blades, there would be a failure to get: (i) distributive efficiency. (ii) economic equity
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.
Why is this probably precise to believe that you can believe of nothing better to do along with your time immediately than to study economics?
An economic system is economically efficient when: (w) economic inequity has been removed. (x) any gains to someone through several possible rearrangement of goods or resources would need losses on the part of someone else. (y) more o
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