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Question 1:
" Public policy gives one a better understanding of what governments do, why they do what they do and what difference public policy makes to the lives and circumstances of communities"
Elaborate on this statement.
Question 2:
(a) What is rational policy? (b) Comment on the main barriers to rational policy-making?
Question 3:
(a) What are the main characteristics and dimensions of problems that stimulate government action?
(b) "All problems do not find a place, or a prominent place, on a policy agenda. Those opposing action on a problem typically strive to block its consideration, so as to deny it agenda status."
What are the main tactics that may be employed by the opponents of agenda status for a problem?
Unions tie the hands of management and inhibit efficient decision making
Draw a simple circular flow of income model for a private sector economy. Label all of the flows, as well as the markets where all exchanges take place. Describe the exchanges, a
Describe the basic process by which an economy moves by a business cycle. What is meant by a demand-pull inflation? How does a demand-pull inflation vary from a cost-push inflati
Jack and Jill live alone on an island. Their labour supply schedules are identical and given by L = (1 - t)w, where t is the income tax rate and w denotes the wage. Jill''s wage
Question 1: "The only social responsibility of business is to increase its profits" wrote Milton Friedman, Economics Nobel prize winner, in an article in the New York Times Mag
externalities produced by a monopolist
The marginal external cost associated with the emissions of sulfur dioxide is estimated to be $30 per pound of this chemical per year. Assume that each ton of steel produced per ye
Q. Relationship between individual preference and social choice? Social Choice is a very kindred area. Some people don't make any distinction between the two while others make.
Explain the stages and various coordination mechanisms involved in policy processes. Discuss various factors that influenced the agenda setting in policy processes
1.) In what way is insurance for medical loss/illness differ from insurance for any type of property loss?
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