How does the historical institutionalist approach of political economy differ from rational choice approaches?

Q: The alternative to the Uber pricing model is the taxi pricing model where a government commission…

A: A price ceiling is the commanded maximum sum a vender is permitted to charge for an item or…

Q: Positive economics is the focus on facts and cause-and-effect behavioural relationships and includes…

A: The two branches of modern economics are: Normative economics and Positive economics. Positive…

Q: In the real world, countries use a mixture of economic systems.   Group of answer choices True.…

A: There are numerous sorts of economies around the globe. Each has its distinctive attributes, even…

Q: If you are the employer of a business establishment, how will you apply utilitarianism using…

A: The utilitarian is used by the business firms to analyze and evaluate the decisions in light of its…

Q: Of the persuasion principles, which one explains why people got off work early to purchase Lysol…

A: Scarcity: Scarcity refers to the limited availability of resources, goods, or services in relation…

Q: What are the positives to a functionalist perspective

A: The functionalist perspective refers to the perspective which explains that society is interlinked…

Q: List two types of utilitarianism?

A: In economics, Utilitarianism refers to the ideology of making activities that result in happiness or…

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: Is there a need for the government to talk about Economics in layman's term? Justify and explain.

A: Government. in general, is known as the authority that is meant to make major decisions regarding…

Q: what is the difference between positive theory and nornative theory?

A: Economics is the social science that studies the production, distribution, and consumption of goods…

Q: What are the essentital fetaures of classical schools of thought (ECONOMICS)

A: Adam Smith is the founder of the classical school of thought. His work "An inquiry into the wealth…

Q: What are the characteristics of law

A: Law affects and protects the social, political, cultural and economic areas and values of the…

Q: What are the drivers/motives behind the geoeconomic strategy?

A: Geo-economics is the branch of economics which study how economy functions in an international…

Q: What are some of the problems with using utilitarianism for conducting a stakeholder analysis

A: Utilitarianism is a moral philosophy that promotes activities that bring happiness or pleasure while…

Q: Explain Ecological Models and also define simplifying assumptions to construct such a model ?

A: Environmental economics is the most important and an essential part of economics, as producers and…

Q: There are various approaches to deal with ecological illness, and we can all place them on a…

A: Given the two approaches for ecological illness ie liberatianism and authoritarianism, it is better…

Q: advantages and disadvantages of using positivist methodology in economics

A: Positivists are the group which prefer quantitative ways in research which they believe is more…

Q: Compare and contrast political economy and political system.

A: Despite the fact that the terms political economy and political system are sometimes used…

Q: Regarding the distributive justice hypothesis, I thought utilitarianism was the most persuasive.…

A: It can be defined as the satisfaction, well-being, or benefit that an individual gets from consuming…

Q: When looking at the economics of marriage, how would a functionalist theorist and a social exchange…

A: The structural functionalist point of view, marriage and family are an essential structure square of…

Q: Can bring an example of a macronomics issue versus a microeconomics one?

A: Microeconomics is the study of economics of a country at a micro level, where behavior of…

Q: Is the death penalty a deterrent to murder? One way to answer is to compare homicide rates in U.S.…

A: Correct option is (a).

Q: Why couldn't an economy function without government intervention?

A: An economy needs government intervention for some specfiic purposes because there are various types…

Q: Discuss the pros and cons of utilitarianism.

A: Utilitarianism views supports actions that increases the overall utility of the society. The main…

Q: The Incentive Principle is an example of a normative economic principle. O a positive economic…

A: The Incentive Principle is a concept in economics that suggests individuals respond to…

Q: According to social democracy, the role of the state in the economy is: some state ownership,…

A: The answer is TRUE Reason: Within socialism, social democracy is a political, social, and economic…

Q: What do you understand the term “argument” to mean? Give one or more examples of arguments in…

A: The argument is a term used to define coherent series of statements, facts, or reasons that are…

Q: What does the Heckscher-Ohlin theorem say? Does the theorem make intuitive sense? Why / why not?

A: Heckscher-Ohlin theory in international economics states that an economy tends to produce and export…

Q: n this chapter on page 61 the passage describes British scholar W. D. Ross, who rejected…

A: Utilitarisanism:Utilitaiansim is an ethical theory that suggests that the best action is the one…

Q: if economic theories are solidly based on relevant facts, then appropriate economic policy becomes…

A: Economics is a social science that deals with complex systems influenced by numerous factors,…

Q: ent, how will you apply u

A: Utilitarianism is a moral theory being working as a form of consequentialism which helps individuals…

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: To ensure safety and efficacy, the Food and Drug Administration regulates the medicines that…

A: To guarantee the security and efficacy of medical goods and services, government organizations and…

Q: In the case below, rationalize government action based on welfare economics. The Peranti Siswa…

A: A subfield of economics known as "welfare economics" is concerned with the welfare of individuals or…

Q: When it comes to advice being given to policy makers, economists may offer conflicting advices for…

A: Policy makers while taking advice from different economist’s always face conflicts for determining…

Q: What’s wrong with the rational actor model? Under what conditions is it appropriate for analyzing…

A: The Rational Actor Model (RAM) is a concept in economics and political science that assumes…

Q: Why are Adam Smith's economic views more valuable. Provide three reasonings

A: Adam Smith gave the theory of absolute advantage in international trade which means that the country…

Q: How far Thorstein Veblen provided constructive criticism of mainstream economics and to what extent…

A: Thorstein Veblen: Thorstein Veblen is an economist who has given the concept of conspicuous…