Elucidate reallocation of Government resources
Elucidate reallocation of Government resources?
Expert
1. Government can increase demand by providing subsidies like food stamps and education grants to subsidize consumers.
2. Government can finance production of good or service such as public education or public health.
3. Government can increase supply by subsidizing production, such as, immunization programs, higher education as well as public hospitals.
4. Government provides public goods and quasi-public goods and services.
In words of Adam Smith, who theorized that the “natural price” of a good based most directly upon the: (1) wage rate and the relative amount of labor required to produce the good. (2) greater of the value of the good &ldqu
Describe the term: “Only to be part with it we want money”?
Even people who are extremely good at everything couldn’t encompass: (i) absolute benefits in approximately everything. (ii) Much higher incomes than average. (iii) Comparative benefits in everything. (iv) Superior natural endowments of talent. Q : External costs and external benefits Explain the impact of external costs and external benefits on resource allocation
Explain the impact of external costs and external benefits on resource allocation
The expected losses to workers by shirking are increased while a firm adopts a policy of: (1) dividing productive tasks therefore the division of labor is optimal. (2) paying efficiency wages that exceed market-clearing wages. (3) avoiding legal liability from not wri
Dividing monetary prices from each other yields: (v) nominal prices. (w) relative prices. (x) subjective prices. (y) absolute prices. (z) transaction prices. Hello guys I want your advice. Please recommend some vie
Question: A country with a fixed or managed exchange rate would consider i.___________________ its currency to gain competitive advantage vis-à-vis its trade
What was rightward shift of PPC point out? Answer: It points out growth of the resources.
The theory of pricing for particular goods explained in Adam Smith’s Wealth of Nations is most consistent along with: (1) mercantilist doctrine. (2) Richard Cantillon’s distinction between “value in
This wages vary within inverse proportion to the agreeableness and constancy of the employment was a perception first explicitly stated through: (i) Adam Smith. (ii) Karl Marx. (iii) Thomas Malthus. (iv) John Stuart Mill. (v) David Ricardo.
18,76,764
1945539 Asked
3,689
Active Tutors
1460840
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!