Substantive due process rules deal with “how things are done”. True or False?

Q: Why should policymakers think about incentives?

A: The incentives refer to the extra income given to the people who had worked for additional hours. In…

Q: Which of the following is considered an economic factor ? Select one: a. leadership b. taxes c.…

A: Economic factors are those factors affect the economy as a whole that can connect and influence a…

Q: Liberal view, which prevails in economics education today, ......... choose one or more a) society…

A: Social economics in recent liberal times being an important branch of economics and social science…

Q: . A theory is an abstraction from reality. What does this statement mean?

A: Economics is a discipline that studies the factors that influence the production of goods and…

Q: A marginal change is one that       a. is not important for public policy.       b. incrementally…

A: The wants and desires of individuals in an economy or society are unlimited but the resources…

Q: Marx’s historical materialism created a revolution in political economy. Why? Identify and summarize…

A: Karl Marx's historical materialism: Karl Marx theory was based on the expansion of the capitalist…

Q: Describe the public policy cycle? Support your answer with examples.

A: The course of public approach has various stages which communicate in a powerful manner:…

Q: Positive statements are: (a) Statements of description that can be tested (b) Statements of…

A: Economists are more likely to be acting as scientists when economists make positive statements.

Q: Each of us makes promises all the time; most we keep, but some we don’t. Said differently, when will…

A: Each of us makes promises all the time; most we keep, but some we don’t. Said differently, when will…

Q: Religion defines the ideals for life, which in turn doesn’t reflect the values and attitudes of…

A: The correct answer is given in the second step.

Q: True or False ? Ben Bernanke believes that Milton Friedman and Anna Schwartz’s explanation of the…

A: Investors and savers' best friend. Friedman believed that instead of trying to grow the economy by…

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: Marx held that to understand the fundamental relationships of capitalism, one had to look at the…

A: Why one had to look at the sphere of production? As per Karl Marx version of economics, People…

Q: are consumers who Ilke to avold changes and rely on traditional products untll they are no longer…

A: Continuous development of new items or upgrades to those currently on the market is a prevalent…

Q: Beginning in the late 1970s, economic reform in China allowed farmers, for the first time, to keep a…

A: China started a series of economic reforms in 1979. The central government provided farmers with…

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: To combat recessions and depressions, which should have priority: unemployment or debt reduction?…

A: Definitions: Depression is a prolonged downturn in the economy, while the recession is a temporary…

Q: In free market (liassez-faire) system, the price mechanism dicates the production planning (how to…

A: The given statement “In free market (laisses-faire) system, the price mechanism dictates the…

Q: Social Darwinists had a different take on the utilitarian justification for free markets. They…

A: Economic competition refers to the situation where the firms are seeking for obtaining shares of…

Q: explain why negative externally creates a cost for the society and how it can be reduced  give an…

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: Economic value is a utilitarian concept - do you agree or disagree? briefly explair and justify your…

A: Utilitarianism is a moral philosophy that promotes activities that bring happiness or pleasure while…

Q: Must some members of society receive greater rewards than others?

A: Labor productivity: - Labor productivity is the capacity or ability of labor to produce goods and…

Q: Analyze three ways that societies can organize themselves economically. Justify reasons most modern…

A: The three ways in which societies organize themselves economically are discussed below:

Q: Karl Marx envisioned a perfect society that would be based on a smoothly running capitalist system…

A: Communist society is a type of societal structure postulated in the Marxist thought that…

Q: The way in which economists' thinks is influenced: Select one: a. Wealth b. Opportunity cost c.…

A: A financial pointer is a piece of monetary information, ordinarily of macroeconomic scale, that is…

Q: "If you don't believe in the messenger, you won't believe the message" what implication does the…

A: The economics as a study is based upon the idea that the resources which are present with the…

Q: Although fiction isn't claiming to be True,it reveals truths about our world or the way (some)…

A: Fiction means that is related to somehow thought that may or may not be related to reality.

Q: Write a Position Paper about the bill “No Assignment Policy”. - introduction - body - conclusions

A: Introduction:-  It is really a T.G.I.F for students in essential and optional government funded…

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: The way in which economists think is influenced by: Select one: a. Money b. Governments c. Wealth d.…

A: The way economists think is influenced by Opportunity cost because the opportunity cost represents…

Q: What amount of questioning (if any) should we have concerning our moral beliefs? are there…

A: Moral beliefs associated with the queries that what's correct per ethics and what's not correct.…

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 does economic rationale and/or political/government/business insights gained from other classes,…

A: We feel that economic rationale most certainly assumes a part in our point of view on this issue. We…

Q: Assess the importance of Elinor Ostrom’s work for economists?

A: The tragedy of the commons The tragedy of the commons is a social and economic problem where…

Q: Present and evaluate the claim that capitalism creates waste and false needs. If the claim is…

A: What is capitalism? Capitalism is a system of economic governance that has arisen in many contexts…

Q: involves à specific policy alternative, because it uses subjective, ethical, or moral judgments in…

A: Behavioral Economics: Behavioral Economics can be defined as the study of the elements of Economics…

Q: If there is a high rate of inflation (as well as an ample money supply), this finding is associated…

A: In economics, there are numerous principles applied at the marketplace based on different markets…

Q: The economic theory that states that the economy works best when it is left alone free from…

A: According to the given question Economic theories as stated as that theories which are very useful…

Q: name three parts of the government that regularly rely on the advice from the economists

A: The economies as a study involves the decision making process, where various entities in the economy…

Q: Describe and illustrate the concept of the ‘Impossible Trinity’.

A: Impossible Trinity says that it is impossible to have all three of the following at the same time…

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: Apart from society's laws, according to Hobbes, a person's rights are based on ) the laws of God.…

A: Natural rights are the rights that are not dependent on the laws and customs or beliefs of any…