Question 2 Most governments have a policy of not negotiating with kidnappers but relatives of kidnap victims do not have the same policy. Which core principle is represented in this scenario (if Choose... any)? Explanation Choose...

Q: Explain the role that is played by the three decision makers in the economy

A: The firm, the household, and the government are the three basic economic units that carry out…

Q: The Biden administration's "Buy American" agenda proposes to increase the federal government's…

A: In a market, when people makes changes in their decision based on different market condition or…

Q: What two arguments does Smith make in his book? 1. 2.

A: The economics as a study is a very vast area, which deals with various models, factors, conditions,…

Q: Why mainstream economics has intentionally misinterpreted the pioneers of economic theory?

A: The economics is the social science that studies the allocation of scarce resources and how the…

Q: Which of the following is not correct? Group of answer choices a Positive statements can, in…

A: Positive statements are mere facts and it cannot be judgemental.Therefore to confirm or refuse it…

Q: Magical Realism uses the supernatural as а. An alternative world to escape to from the boring…

A: Magical realism is a branch of literature that portrays the magical or supernatural world in such a…

Q: fusing horizons of diverse perspectives and views, what are two-possible positive consequences?

A: The leadership of the entire system is rooted in diversity. The system-wide approach thrives by…

Q: b) Efficiency and equality are examples of classic trade-offs in economics. Analyze each of the…

A: Efficiency is concerned with the optimal production and allocation of resources given existing…

Q: Sometimes political needs override economic needs. For example, bringing inflation under control may…

A: Inflation: It is the increase in the general price level of goods and services in an economy over a…

Q: Because people respond to incentives,a. policymakers can alter outcomes by changingpunishments or…

A: Decision making in economics is an essential component as it reflects the behavior of the economic…

Q: There are various approaches to deal with ecological illness, and we can all place them on a…

A: Given the two approaches for ecological illness ie liberatianism and authoritarianism, it is better…

Q: In Germany in 2009 there was considerable debate about the extent to which the government should be…

A: 1.In 2009, when Germany was facing a recession, the government had to intervene in order to take the…

Q: Thanks for your answer. Can you explain in a little more detail?

A: Negative externality refers to when the production or consumption results in a cost to the third…

Q: Explain the idea that Smith on one hand had distrust for government, during his time govern. On the…

A: The idea of Adam Smith was to have belief in invisible hand. It means the market forces alone will…

Q: What is Enlightenment? an American ideal of a successful life. a period of time in which…

A: In an economy, when talking about enlightenment, in simple terms, it explains the situation in which…

Q: What is the list of all Henry Hazlitt's cost-benefit analysis lessons learned as it relates to…

A: According to Henry Hazlitt's lesson of cost-benefit analysis: Actions that are advantageous in the…

Q: Social scientists: O want models that look exactly like the real world don't like to make…

A: Social Scientist is a person who is an expert in the study of society and analyses the social…

Q: Which of the following is not correct? Select one: a.Evaluating statements about how the world…

A: b. Normative statement can be judged using data alone

Q: Which of the following best describes Ethics?   a.Behavior that is agreed upon to be moral by the…

A: When talking about business, economics and social activities, an efficient outcome can be achieved…

Q: Timothy received $100 for his birthday. He wants to buy either a new skateboard or a new mp3 player…

A: We only answer one question so we will answer the first one. Please submit a new question specifying…

Q: What is the water-diamond paradox in our modern economics? Give example of this paradox in our…

A: The Paradox of Value, more popularly known as the Diamond-Water paradox, is an economic concept that…

Q: Comment on the statement:  “Increasing government spending is preferred to a cut in taxes when the…

A: A normative statement refers to a statement that is based on opinion rather than facts or figures.…

Q: From the following choices, please match the Beijing Consensus or the Washington Consensus to its…

A: Beijing Consensus - The Beijing consensus focused on the following points:- It focused on a strong…

Q: models are important ways of simplifying information in economics. if you were to use models to…

A: A lot of time of the researchers and scientists go into the formulation of models and then the…

Q: Critically evaluate the below statement. "Policy makers have their individual desires (utility…

A: Policy makers want their decisions to provide benefits to people.

Q: What do governments typically care about as "benevolent planners"?   Question 3 options:   Both…

A: When talking about a benevolent planner, he is the person or an institution that works to improvw…

Q: Give an example of a government law or policy that affect individuals’ religious decisions. State…

A: Government law or policy that is likely to affect individuals religious decisions has been…

Q: What caused Americans, and in particular, the middle-class leaders of the Progressive movement, to…

A: Leaders are people who represent the economy at various levels. Leaders are the people who help the…

Q: 1. Identify and explain the differences between the Pareto Principle and the Kaldor- Hicks…

A: Pareto Principle : A situation in which it is impossible to make anyone better off without making…

Q: The situation in which policymakers have the incentive to announce one economic policy but then…

A: Policy makers use two approach to implement the policy. One is Rule based approach and nother is…

Q: Which concept related to bureaucratic politics does not coincide with the rational choice approach?…

A: In business abd economics, rational choice approach refers to an individual's decision based on…

Q: Social scientists: want models that loo exactly like the real world O dont like to make predictions…

A: Social scientists look at every element of society, from historical events and achievements to…

Q: 21. Laissez-faire is a policy that espouses central planning. True or false

A: The term laissez-faire was given by the Physiocrats of France in the 18th century. The theory of…

Q: Define fairness and give examples of how it affects behavior in the economy and in the dictator and…

A: The ultimatum game has grown to be a popular instrument in experimental economics. The use of this…

Q: How far Thorstein Veblen provided constructive criticism of mainstream economics and to what extent…

A: Thorstein Veblen: Thorstein Veblen is an economist who has given the concept of conspicuous…

Q: What is the water diamond paradox in our modern economics?

A: Total Utility is the total satisfaction obtained by consuming a particular amount of good or…

Q: How important the tools of economics in this time of pandemic

A: How important are the tools of economics in this time of the pandemic? Answer: The pandemic…

Q: What mechanism Islamic economic system provides to encounter those flaws? Those flaws mean…

A: (a)   The Islamic monetary framework is the assortment of rules, qualities and norms of direct that…

Q: In the 1980s , Boston developed Operation Ceasefire, which was meant to clearly describe the…

A: The correct option is D. In the 1980s, Boston developed the operation ceasefire. This type of…

Q: Which of the following is true?

A: The tax revenue is the income of the government. The tax earned would result in the income for the…