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   Related Questions in Public Economics

  • Q : Technological advance in costs All else

    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

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  • Q : Invisible hand of Adam Smith “

    “Invisible hand” of Adam Smith refers to the combined results of: (w) monopoly plus altruism. (x) democracy and freedom. (y) self-interest plus competition. (z) taxes and government regulation.

    Q : Law of diminishing returns The idea

    The idea that costs ultimately grow faster than output if output is expanded obeys logically from the law of: (i) Increasing expectations. (ii) Raising returns to scale. (iii) Diminishing returns. (iv) Demand and supply. (v) Rational effects.

    Q : Illustration of Self Interest Elmer

    Elmer leaves his old mule Betsy and buys a new tractor to plow his fields. It is assumed to be consistent along with Elmer's perception of his best interest since: (w) tractors can plow more than a mule. (x) Elmer is assumed to be a rational farmer. (

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  • Q : Influence of decisions on consumers

    Consumer’s preferences tend to be most proficiently met whenever decisions are made: (1) Individually. (2) Through democratic voting. (3) In command economy. (4) To share out income according to requirement. What is the right

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  • Q : Rationally optimal decisions hinge on

    Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge on tradeoffs which essentially reflect as: (1) using cooperative allocative mechanisms to minimize inequity. (2) opportunity costs. (3) competi

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  • Q : Define the economically efficient

    An economically efficient combination of resources: (w) may or may not be technologically efficient. (x) will be technologically inefficient. (y) will not be technologically inefficient. (z) automatically assures equity. Hey guys p

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  • Q : Influencing goods in Economic Growth I

    I have a problem in economics on Economic Growth. Please help me in the following question. Across time, raising the output of military goods devoid of decreasing the output of civilian goods is: (1) Always unfeasible. (2) Impossible in an economy with very high unemp

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  • Q : Society resources-output combinations

    The country’s production-possibilities curve exhibits: (i) Which combination of goods are best for the society. (ii) Output combinations which fully employ society's resources. (iii) Demands for various resources. (iv) Monetary quantities and pr

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  • Q : Explain TANSTAAFL TANSTAAFL is an

    TANSTAAFL is an acronym suggestive of that: (1) Tax agents never observe the awful influences from levies. (2) Tenants and needy must take all assets by landlords. (3) There ain't no all things like a free lunch. (4) Temperance and non satiety togethe

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