close search
Hit Return to see all results

What are the difference between wagners Law and Parkingsons law?


What are the difference between wagners Law and Parkingsons law?

Step 1

Both the Wagner’s law and Parkinson’s law are two different laws of economics where Wagner’s law is related to “the law of increasing state (government) spending” and Parkinson’s law is related to the “Work expands to fill the time available for its completion”. 

Step 2

Wagner’s law is named after the famous German economist Adolph Wagner who by his observation in different nations found that the public spending rises constantly when the income growth expands. Furthermore, this law states that the development of an industrial economy is associated and accompanied by a rise in the...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Our solutions are written by experts, many with advanced degrees, and available 24/7

See Solution
Tagged in



Related Economics Q&A

Find answers to questions asked by student like you

Show more Q&A add

Q: if the governement would like to induce a consumer to consumer a specific level of some good. which ...

A: Figure 1 illustrates the impact of subsidy to consumer and the money value of the subsidy.


Q: The Fed's dual mandate is to promote maximum employment and keep prices stable (target inflation rat...

A: During the great recession in 2008, the Federal Reserve mainly aims two goals, stimulate employment ...


Q: If the prices of both goods increase by 50% while income remains constant what will happen?

A: Budget line equation is given by  I = Px . X + Py. Y 


Q: An engineering student intends to purchase a new computer. He plans to pay $300 down and finance the...

A: In the given information the down payment is $300, monthly payment is $100 and total rate of interes...


Q: Below is a supply and demand curve for spaghetti. Assume that the price of rice increases and the pr...

A: Substitute goods are those goods which can be used for same purpose by same consumers. Therefore, in...


Q: Vilfredo has complete and transitive preferences on cars. We know that he prefers a Hyundai Sonata t...

A: Completeness of preferences mean that if a person is making a choice between two or more goods then ...


Q: An increase in the money supply will increase real GDP growth in the long run in A) the Real Busines...

A: GDP (Gross Domestic Product)/ output of a country is the market value of all finished (final) goods ...


Q: Suppose the price of A is $20 and the price of B is $10 and that good A is plotted on the horizontal...

A: If the price of A is  $20 and that to b is $10, In this case when  A  is plotted on the horizontal a...


Q: How would you solve these

A: Answer 8:In the monopoly market, the profit maximization condition is MR = MC; however, the monopoli...

Sorry about that. What wasn’t helpful?