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I need a good answer upon the topic of opportunity cost problems. What is the opportunity cost of buying a new car: (i) last dollar price one pays for this. (ii) Value of the old car traded within. (iii) Sticker pr
The principle which the simplest workable theory is also the fine is termed as: (i) positive analytics. (ii) minimalism. (iii) Occam's razor. (iv) simple-mindedness. (v) hypothesis testing. I need a good answer on the topic of
The early philosopher who argued about criminals must be punished proportionally to the harm completed to society, but without consideration of remorse, intent or motive was: (1) John Stuart Mill. (2) Edwin Chadwick. (3) Jeremy Bentham. (4) Adam Smith. (5) Aristotle.<
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
Predicting a fall within the national unemployment rate along with a new untested economic model is an illustration of: (1) positive economic analysis. (2) normative economic analysis. (3) a microeconomic prediction. (4) predictability no better than a call to the psy
I have a problem in economics on Resources and Products Flow Model. Please help me in the following question. “Fee-simple” private property rights permit you to: (1) Shoot trespassers who are on your land with no permission. (2) Refuse to
The “invisible hand” of Adam Smith explained: (w) a large function for the government. (x) altruist motives within civilized society. (y) technological advances promoted through monopolies. (z) self correcting market mecha
When a mother tells her young child that thunder is caused by the angels bowling up in heaven, scientists would classify her statement as most clearly: (w) a normative statement. (x) a positive statement. (y) microeconomics in place of macroeconomics. (z) scientifical
Economic profit is the entrepreneur's: (i) payment to managers for their services. (ii) capital stock minus depreciation. (iii) reward for innovation and bearing risks. (iv) difference between monetary cost and total income. (v) opportunity cost for capital.
I need a good answer on the topic of Economic problems. Please give me your suggestion that illustrations of technological enhancement would not comprise developing new because: (i) Lighter and less costly and stro
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