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Q: Why should policymakers think about incentives?

A: The incentives refer to the extra income given to the people who had worked for additional hours. In…

Q: Why do you think that most modern countries’ economies are a mix of command and market types?

A: If economic decisions are taken by the government, it is known as the command economy. In such a…

Q: Which three key questions do economists try to answer?

A: Economists try to solve various problems existing in the economy.

Q: Who did Milton Friedman advise with his economic theory?

A: Milton Friedman was an American economist and statistician who believed strongly in free market…

Q: What are the major tenets of neoliberal economic policy?

A: Neoliberal school of thought has evolved post 1980s after Keynesian economics era had gone.…

Q: Why did Henry George (American Economist) pay particular attention to his popularity and legacy?

A: Henry George (September 2, 1839 – October 29, 1897) was a political economist, journalist, and…

Q: If you were the Prime Minister of the country, would you be more interested in your economic…

A: An economic advisor is a professional who gives master guidance on economic issues. This job can be…

Q: Why economics is a relevant subject, and why it's important?

A: Economics is an important subject for individuals, societies, governments, businesses and…

Q: How relevant is economics in our everyday lives?

A: Economics is very important and useful to study to make it applicable in our daily lives. There are…

Q: What were Milton Friedman’s economic theory’s general principles and who did he advise?

A: Milton Friedman was basically an American economist who advocated for free market capitalism.During…