Exam (elaborations)
ECS3704 ASSESSMENT 3 SEMESTER 2 2023 QUESTIONS AND ANSWERS
- Course
- Institution
- Book
ECS3704 ASSESSMENT 3 SEMESTER 2 2023 QUESTIONS AND ANSWERS
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Cost Analysis Benefit
-
ECS3704 ASSESSMENT 3 SEMESTER 2 2023 QUESTIONS AND ANSWERS
Seller
Follow
BMZAcademy
Reviews received
Content preview
BMZ ACADEMYBMZ ACADEMY
@061 262 1185/068 053 8213/0717 513 144
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
, BMZ ACADEMY
According to Nozick’s entitlement theory
Select one:
a.
rectification of an injustice implies that if person A acquired a farm at the expense of person
B and against the will of person B, then person A must keep it.
b.
redistribution of wage income is justifiable.
c.
it is just to take land from an absentee land owner.
d.
would be fair if one or both of Nozick’s first two principles of justice have been violated.
Question text
Which of the following statements is/are correct?
Select one or more:
a.
Redistribution would be Pareto efficient if negative externalities are reduced in the process.
b.
Each Pareto efficient equilibrium position occurs at a different distribution of labour and
capital between individuals.
c.
Redistribution can be seen as a public good because its benefits are excludable.
Question text
Which of the following statements is/are correct?
Select one or more:
a.
The altruist motive for income redistribution means that people are prepared to redistribute
income simply because they are concerned and generous.
b.
A point such as F’ in figure 2.4 (consumption and overall equilibria) would lie on the grand-
utility possibility curve in figure 5.2.
c.
Community indifference curves such as W1 and W2 in figure 5.2 cannot be added to
determine total welfare.
Question text
Politicians can cause government failure through
Select one:
a.
profit maximising behaviour.
b.
vote-maximising behaviour
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BMZAcademy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.53. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
76800 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now