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

Q: Show how moving from a lump sum tax to a linear tax affects outcomes in terms of output and work…

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Q: Question 3 Determine if the following statement is true or false and explain your answer. "Arrow's…

A: Arrow's impossibility theorem is a social choice paradox that shows that having an optimal voting…

Q: define economic welfare?

A: In an economy, the term 'welfare' is used to explain the satisfaction gained by the people of a…

Q: Indicate whether the following statements are True or False. Support your answer with an explanation…

A: As Per Given Data, Answer Is Given Below....

Q: Discuss the first and second fundamental theory of Welfare Economics.

A: Welfare economics is  basically a branch of economics that use micro-economic approaches to assess…

Q: According to Kenneth Arrow, there are minimum conditions to which a social choice rule…

A: Theorem asserts that converting individual preferences from a fair ranked-voting electoral system…

Q: Consider a world with two “types” of people, and where everyone lives for two periods. In period 1,…

A: Employers: It refers to the people who provide employment to many people. The employer is the owner…

Q: When Aaron makes a decision, he tries to minimize its bad effects and maximize its good effects for…

A: When Aaron makes a decision, he tries to minimize its bad effects and maximize its good effect for…

Q: There are three popular types of social welfare functions. Benthamite Social Welfare Function - W…

A: Social Welfare Functions: Benthamite Social Welfare Function: W(u1, u2,... uN) =∑i=1Nui Egalitarian…

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: Suppose there are two people, Selma and Burak, who must split a fixed income of 200. The marginal…

A: We know, NOTE: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: What is "Pareto Efficiency"? This is a key concept in welfare economics. Write at least a paragraph…

A: Welfare economic science may be a discipline of economic science that employs economics approaches…

Q: What are normal goods? State any two examples? State any two features of the consumer protection act…

A: In simple words we can say that normal goods are those goods the demand for which generally…

Q: . Can you do anything to reduce the number of people in the following categories? If so, what?

A: Frictional unemployment defines the number of people unemployed as a result of dropping from one job…

Q: What is an analytical device used to model welfare economic theory.

A: The study of how the distribution of resources and products impacts societal well-being is known as…

Q: Which of the following is an example of the ubiquitous tradeoff between equity and efficiency…

A: Minimum wage is the lowest wage below which an employee cannot hire workers.

Q: Define Degree of necessity?

A: Necessity goods are those goods which are required by the consumer in day to day life. These are…

Q: The social optimum occurs where price is __________ and quantity is __________.

A: Socially optimal output level refers to that at which the marginal social benefit and the marginal…

Q: Many cities have taxes on products that are considered "bad," like cigarettes and alcohol.  These…

A: The government has long taxed tobacco and alcoholic beverages. Sugar-sweetened beverage levies have…

Q: How is the first mover advantage related to schelling's paradox of commitment

A: To be first allows a company to develop a strong brand. It also boosts client retention before…

Q: What is marginalism?

A: Macroeconomics: The study if the economy as a whole or in totality is termed as macroeconomics. For…

Q: To what extent are free markets morally justified? In your answer, you may want to be clear about…

A: Argument in support of free market  A free market is an economic system in which the prices of goods…

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: Describe the Dependency Theory?

A: Dependency theory describes the underdevelopment of poor countries.

Q: Should the social discount rate represent the rate that could have been earned had the funds not…

A: The concept of social discount rate is widely used in determining the discounting value of the funds…

Q: The net welfare effects rate is a. area b + d b. area b + d + e c. area e d. area e - b - d

A: World price is Pw.  The PT is the price after tariff.

Q: Define the term Social Discount Rate?

A: The social discount rate (SDR) is the discount rate which used to calculate the value of funds and…

Q: If economic advisers are only interested in maximizing social welfare, would they support the policy…

A: When the economy is in a Pareto efficient state, social welfare is maximized. Since no money can be…

Q: Which of the following is true of social welfare? O a. It is a government program through which…

A: The term "social welfare" refers to a system that attempts to give high-quality care to society's…

Q: what does it mean when we say changing the endowment? (in economics term)

A: Managing and developing the resources, materials, income, factors of production are called an…

Q: 20. Which among the following statement is INCORRECT? A. O Welfare economics is based on value…

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Q: Explain the problem of deadweight loss associated with giving at Christmas? According to Joel…

A: Answer - "Thank you for submitting the question.But, we are authorized to solve one question at a…

Q: Please give two examples of market distortion, how do they affect the market efficiency? Explain in…

A: The market is an mechanism which would result in the well functioning of the market forces of demand…

Q: Which of the following assertions regarding social efficiency and social welfare is correct? a. They…

A: Social efficiency refers to the consideration of all the personal and societal costs and advantages…

Q: what is Adam's smith theory on The Invisible hand of a Market Economy

A: In economics, Adam Smith gave his significant contribution to understand the concept of market and…

Q: Identify the aspect of taxation which is related to normative economics

A: Normative economics tells what should be done in an economy or what is the ideal situation for the…