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Q. Who permits government whatever it does?
The simple answer can be: people in a democracy and the monarch/dictator in a monarchy/dictatorship. But neither monarchy exists in its original form nor does a dictator/despot/autocrat work without a coterie around. Some people always participate in the decision-making process, deliberate on the issues and implications, and clinch the matter following certain rules given from outside (say, by the constitution) or decided in the process itself, which is itself a decision-making process. How individual preferences get translated in public choice over a public issue is broadly the area of Public Choice.
Consider a case, if an insurance company merges with a bank. We know that insurance company bears risk for insurers. Suppose, after merger, bank gets in some trouble for reasons ot
A change in the legal statute may be able to force an equilibrium if it leads to a new equilibrium which implies some revised belief which sustains the equilibrium. Tirole (1996)
what is volume of production and the factors influencing them
As we know now that in policy process, policy outcome may differ from the social planner outcome not only because different policies may be chosen but because a given policies may
In planning activities how are the decision arrived? what are the different stages of analysis? which factors can be ignored and why? state the manner in which a degree of success
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What are the properties and limitations of GDP as a social welfare function?
Consider the Edgeworth box with the production of consumption goods B and health- investment goods I. (a) Briefly explain the derivation of the contract curve. (b) How does one der
what is public debt. ? give complate information on public debt. ?
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