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Public Economics can broadly be understood as that Economics which deals withpublic intervention in the economy. Its domain is supposed to encompass rationalefor public intervention as well as manner, approaches, mechanisms, forms,processes and instruments whereof. Term ‘public' has a restricted meaning: itnormally connotes government, as such, at all levels as well as public bodies, that is,bodies floated by the government at any level. Term ‘public' may also refer,in certain cases such as public choice, to the people in general, which are supposed toparticipate in a democratic process of electing political representatives and options related to political/social/economic spheres. It doesn't however connoteany collectively of people, which isn't mandated by government, irrespective ofits size.
principles of multi unit finance
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PIGOVIAN APPROACH Pigou assumed that the aim of social policy is to 'promote welfare'. But in order to simplifL this, he chose to restrict the range of his inquiry to
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
why is it important to consider the complex nature of health and health care when examining economic principles related to health care delivery?
privatization can always decentralise economic power. critically discuss
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)
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