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   Related Questions in Public Economics

  • Q : Case of fuel efficient machinery in

    If the soybean market begins in equilibrium on S0D0, and in that case farm machinery becomes more fuel efficient, the market changes to: (1) S0D1. (2) S1D2. (3) S1D0. (4) S2D1

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  • Q : Define the root of normative economics

    Value judgments which address what “must be” are at the root of: (1) microeconomics. (2) scarcity economics. (3) normative economics. (4) positive economics. (5) macroeconomics. How can

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  • Q : Influence of technology in production

    The production possibility frontier would not be prolonged by: (i) The Pilgrim’s increasing utilization of fertilizer after Native Americans exhibited them that corn grows better when a rotten fish is planted all along with seeds. (ii) Vandalism

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  • Q : Requirements of Economic Efficiency

    Economic efficiency needs: (w) distributive, productive and allocative efficiency. (x) engineering and dynamic efficiency. (y) historical and sociological efficiency. (z) chemical and physical efficiency. How can I

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  • Q : Existence of shortages or surpluses

    Shortages or surpluses exist while: (w) transaction costs are zero. (x) quantity supplied be different from quantity demanded. (y) monopolists enjoy exorbitant profits. (z) supply prices equivalent demand prices. H

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  • Q : Explain about the Opportunity Cost in

    Opportunity cost is explained as the value of the: (w) best alternative specified for the decision made. (x) sum of all alternative choices while a decision is made. (y) monetary cost of making a decision. (z) cost incurred while one ignores alternati

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  • Q : Illustration of Economic Reasoning by

    Occam’s razor refers to the idea which while evaluating a theory: (1) good theory describes the phenomenon as simply as possible, but not moreso. (2) complexity is obvious to make sure that correct answers are reached. (3) conformity along with

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  • Q : Illustrates a problem of Distributive

    Bob the Baker and Bill the Butcher while both would be willing to trade three loaves of bread for a pair of T-Bone steaks, but for several reasons they not include: (i) Bob must become a vegetarian so he doesn't contain to rely upon Bill. (ii) The economy has producti

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  • Q : Illustrate positive economic analysis

    Income tax rates were cut during 1981 year, and again in 2001 year. A question is here that, at least in theory, may be resolved through positive economic analysis is: (w) How do changes in tax rates influence employment and national

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  • Q : Explain the normative economic analysis

    Normative economic analysis: (w) involves only non-quantitative measures. (x) gives precise predictions of economic effects. (y) emphasizes a social science approach to problems. (z) is based upon value judgments.