Define Degree of necessity?

Q: Briefly explain that policy measures is one of factor that effect consumer prices during covid 19…

A: The Covid-19 is the respiratory disease which is caused by the coronavirus. It assumed to be…

Q: In Neoclassical Economics, markets lead to maximum social welfare, if particular conditions are…

A: Neoclassical economics is that branch of economics that emerged in the 20th Century. It differs from…

Q: True or False : Explain Why The first Welfare Theorem formally shows that macroeconomic policy is…

A: In economics, welfare theorems are used to describe the economic equilibrium in different situations…

Q: Is tipping a waiter 15% of the bill traditional,market or command in economics?

A: Tipping a waiter 15% of the bill is a tradition in some cultures. In others, it is considered a…

Q: Considering the given possible uses of candy, which of the four choices could be Pareto Efficient…

A: These are concepts of Welfare economics that have been discussed as follows:

Q: Identify and explain three differences between neoclassical economics economics and behavioral…

A: Economics is considered the study of the production, distribution, and consumption of goods and…

Q: In "Sex Codes and Family Life among Poor Inner-City Youths", Elijah Anderson argues that in order to…

A: Disclaimer :- as you posted multiple questions we are supposed to solve the first one only.  In this…

Q: What are the essentital fetaures of classical schools of thought (ECONOMICS)

A: Adam Smith is the founder of the classical school of thought. His work "An inquiry into the wealth…

Q: What do you think of the ethics of using unconscious nudges to alter people’s behavior? Before you…

A: The Nudge theory suggests that positive reinforcements and small suggestions can influence consumer…

Q: What do you think is more realistic approach between cardinal and ordinal approaches to consumer…

A: Ordinal Utility The Ordinal Utility approach in consumer theory is based on the fact that the…

Q: A libertarian paternalist would prefer to implement policies that a.adjust the incentives of a…

A: The answer is - c. Require individual to make a decision.

Q: According to Roland Robertson, a sociologist, glocalization meant the simultaneity of both…

A: According to Roland Robertson, a sociologist, glocalization meant the simultaneity of both…

Q: What is the foot-in-the-door technique? How does selfperception theory relate to this effect?

A: The foot-in-the-door (FITD) approach is a compliance strategy that entails persuading someone to…

Q: What is infation? Suppose an individual’s retirement plan consists of putting$100 into a safe. What…

A: Definition:  Paul Samuelson (American economist) defines as " a rise in the general level of…

Q: What does the Heckscher-Ohlin theorem say? Does the theorem make intuitive sense? Why / why not?

A: Heckscher-Ohlin theory in international economics states that an economy tends to produce and export…

Q: Which statement defines the essence of Durkheim’s moral individualism?        A. It is having a deep…

A: In an economy, individuals behave differently in the same situation based on their different beleifs…

Q: Indicate whether the statement is true or false, and justify your answer.Contrary to the predictions…

A: Even if there are circumstances where time consistent, rational people may place constraints on…

Q: If the government wishes to make its population pursue a healthier lifestyle by creating a reduction…

A: Without directly increasing the price of cigarettes, the government can reduce its consumption by…

Q: What is a willingness to pay? How does this relate to the concept of demand?

A: Note- Since you have posted multiple independent questions in the same request, we will solve the…

Q: What does rationalism mean within the context of political economy?

A: Political economy refers to the branch of social sciences that studies the interrelationships among…

Q: What is a pooling equilibrium? A separating equilibrium? A semi-separating equilibrium? How are…

A: Pooling equilibrium is an equilibrium in which the different characteristic agents tend to choose…

Q: Betty has the endowment (8 eggs, 20 yogurts), which she can trade on the market. If the price of…

A: Given, Price of eggs =$1.8 per eggPrice of yogurts = $2.7 per yogurtQuantity of eggs =8 eggsQuantity…

Q: Is it realistic to think that we account for rational behaviour in every situation?

A: Rational choice scholars are isolated on what the most satisfactory rendition of rational choice…

Q: Write the two views of the basis for determining the social discount rate?

A: The social discount rate is the wider term used to define the discount rate at which investment made…

Q: What is the goal of behavioral economics? Group of answer choices   To eliminate the consumers’…

A: Behavioural economics is the study of economics that uses individual and institutional psychology,…

Q: Discuss what is meant by the term “nudge” and the relationship between “nudges” and the field of…

A: Behavioral economics studies the psychological behavior of individuals and institutions related to…

Q: How Bergson-Samuelson Social Welfare Function used in a model that considers a society's desire for…

A: let we have show that as per,According to Samuelson theory, the public good is given to the consumer…

Q: What does Chang mean when he describes Neoclassical economics as being more "versatile" than other…

A: There, are different schools of economics such that keynesian economics, classical economics,…

Q: The idea that ethical judgments are universal was advanced by:   a. Kant & Hare   b. Dostoyevsky…

A: Moral universalism is the meta-ethical view that certain ethics, or global ethic, applies to "all…

Q: Indicate how autarkic policies are linked to dependence theories

A: Dependency Theory created in the last part of the 1950s under the direction of the Director of the…

Q: What is Veblen’s critique?

A: Thorsten Veblen was a sociologist and also a American economist, as he critiqued the capitalists and…

Q: What are viable explanations that someone can use to counter Leontief’s  paradox?

A: Leontief paradox refers to the finding that countries with higher capital per worker have lower…

Q: What is the outcome of the Stolper-Samuelson Theorem??? Account for lessons derived and offer…

A: The Stolper-Samuelson theorem was derived in the context of the H-O trade theory. This theorem was…

Q: What are the central tenets of the Positivist Philosophy of Science?

A: Positivism, which is also called logical positivism, is the movement in philosophy in the first half…

Q: Complete the following table by selecting the redistributive philosophy that matches each statement.…

A: Utility refers to the satisfaction that a consumer derives from consuming a good. Redistribution of…

Q: According to Richard Thaler, what two things give economics its reputation as the most powerful…

A: Richard H. Thaler is a professor of behavioural science and economics at the University of Chicago…