Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Question
Chapter 2, Problem 2QAP
(a)
To determine
Check whether maximizing output is the goal of society.
(b)
To determine
Check whether maximizing output is the goal of society in a Christian country.
(c)
To determine
Goal of a Christian country.
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QUESTION 1
Choose the most correct answer to the following questions/phrases. Only write down
the question number and the letter of your answer.
1.1
economy.
(1)
1.1.1
Communism and Socialism are both examples of a
A
Planned
Market
C
Mixed
Open
1.1.2
In a
economy various aspects of production are determined by supply and
demand.
(1)
Planned
Market
Mixed
Оpen
1.1.3
An unfair and unethical phenomenon that does not occur in planned economies.
(1)
Social grants
Over-development
B.
Monopolies
Unemployment benefits
1.1.4
In a
economy consumer demand is predictable and controllable.
(1)
A
Planned
B.
Market
Mixed
Open
1.1.5
The flow of goods, services and knowledge over international borders.
(1)
Expansion
B.
Globalisation
Free flow
D.
Customs
[5]
1. Why might government be less capable than the market to do good?
2. The text makes it look as if maximizing output is the goal of society.
a. Is maximizing output the goal of society?
b. If the country is a Christian country, should it be?
c. If not, what should it be? (Religious)
3. It has been said that “capitalism robs us of our sexuality and sells it back to us.”
a. Does sex sell?
b. Is sex used to sell goods from Land Rovers to tissue paper?
c. Who, if anyone, is exploited in the use of sex to sell commodities?
d. Are both men and women exploited in the same ways? (Feminist)
4. Thorstein Veblen wrote that vested interests are those seeking “something for nothing.” In chapter 2, you learned how technology shapes the economy’s production possibilities over time so that a country becomes increasingly good at producing a subset of goods.
a. In what ways have vested interests used their influence to bias the U.S. economy toward the production of military goods at the expense…
Chapter 2 Solutions
Microeconomics
Ch. 2.1 - Prob. 1QCh. 2.1 - Prob. 2QCh. 2.1 - Prob. 3QCh. 2.1 - Prob. 4QCh. 2.1 - Prob. 5QCh. 2.1 - Prob. 6QCh. 2.1 - Prob. 7QCh. 2.1 - Prob. 8QCh. 2.1 - Prob. 9QCh. 2.1 - Prob. 10Q
Ch. 2.A - Prob. 1QECh. 2.A - Prob. 2QECh. 2.A - Prob. 3QECh. 2.A - Prob. 4QECh. 2.A - Prob. 5QECh. 2.A - Prob. 6QECh. 2.A - Prob. 7QECh. 2.A - Prob. 8QECh. 2 - Prob. 1QECh. 2 - Prob. 2QECh. 2 - Prob. 3QECh. 2 - Prob. 4QECh. 2 - Prob. 5QECh. 2 - Prob. 6QECh. 2 - Prob. 7QECh. 2 - Prob. 8QECh. 2 - Prob. 9QECh. 2 - Prob. 10QECh. 2 - Prob. 11QECh. 2 - Prob. 12QECh. 2 - Prob. 1QAPCh. 2 - Prob. 2QAPCh. 2 - Prob. 3QAPCh. 2 - Prob. 4QAPCh. 2 - Prob. 5QAPCh. 2 - Prob. 1IPCh. 2 - Prob. 2IPCh. 2 - Prob. 3IPCh. 2 - Prob. 4IPCh. 2 - Prob. 5IPCh. 2 - Prob. 6IP
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