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Q. Example on Uncertainty and the policy process?
For example, if it is expected that current government will be replaced in upcoming election, and the next government will be having a different set of policy preferences, expectations on the performance of the current policy may become higher. The process becomes move complicated when current policy and its performance is used to decide the probability of success of the present government in upcoming elections. With uncertainty about the future policy, the policy outcome relation may become quite complex. Thus under symmetric incomplete information the dynamic feedback due to uncertainty severely complicates the effects of policy on its outcome. Matter is complicated further when we assume incomplete information to be asymmetric. Uncertainty about future public policy gives rise to a complex dynamical system.
What are the properties and limitations of GDP as a social welfare function?
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Question 1: i) Describe the concept of circular flow of income. ii) Comment on the view that ‘GDP is the best measure to evaluate economic growth and standard of living'. iii)
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what is the definition of public debt burden?
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explain the stages and various coordination mechanisms involved in policy processes
Your organisation has tasked your to reduce the rate of a particular type of incident or particular type of high risk hazards which is commonly occurring. Your task requires you to
Q. Who will participate and how decision will be made are issues concerned with Public Choice. Whether participants are guided by social concerns or they harbour their private
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