Starting at a point on the Production Possibilities Frontier

Starting at a point on the Production Possibilities Frontier, if society wanted to increase good X, then:

Question 1 options:

they could not simultaneously increase their output of good y

they could also simultaneously increase their output of good y.

they would have to increase their output of good y.

the question is mistaken. Once society picks a point on the curve there is no ability to change output in any direction.

A Mixed Economy differs from a pure Socialist Economy in that:

Question 2 options:

the mixed economy is centrally planned, while the socialist economy is not.

the mixed economy is a command system, while the socialist economy is not.

the mixed economy permits private ownership of corporations, while the pure socialist economy does not.

the mixed economies are generally not democratic, while the socialist economies generally are.

Normative Statements:

Question 3 options:

attempt to describe how the world actually is or actually functions.

are scientific in nature, in that given enough research, evidence, and data, they can potentially be shown to be either true or false.

are supported (either implicitly or explicitly) by the priorities, goals, and value judgments of the person making the statement.

More than one (perhaps all) of the above answers is correct.

The Welfare State as an idea refers to:

Question 4 options:

a belief that one of the main purposes of the government is to provide for the welfare of almost everyone in the society by providing services like healthcare, Social Security, schools and colleges, etc

a belief that the purpose of the government is to provide welfare to the poor, but that most people should not expect help from the government.

programs like Food Stamps, Public Housing, and Medicaid that are geared towards the poor only.

a belief that the best way to provide for the welfare of society is to be perpetually prepared for war since weakness attracts enemies

In the U.S. version of the mixed economy:

Question 5 options:

the main economic focus of the government has been on operating government owned corporations that produce goods and services for the population.

the main economic focus of the government when it comes to business is to regulate safety and health issues through regulatory agencies rather that actually owning and operating the firms.

the government owns no institutions that provide direct goods or services, leaving this completely in private hands.

the welfare state is much larger than in Europe since the U.S. has so many more poor people to deal with.

The NFL has a problem with concussions because the players are tackling each other by spearing with their helmets. Coach Mike Ditka has been quoted as saying, “…you take the facemasks off the helmets and those pretty boys aren’t going to be doing all this stuff.” According to the Law of Unintended Consequences:

Question 6 options:

This proves that Coach Ditka is a cruel and sadistic person. Without the facemasks the players will necessarily have a higher rate of injury since they are unprotected.

The only way for the NFL to reduce concussions and other injuries is to develop better pads and helmets to protect their players.

The Law of Truth or Consequences explains why players behave the way that they do.

The Law of Unintended Consequences can explain the increased injuries after the use of better pads and helmets as an unintentional byproduct of players changing their tackling methods.

Solution

1.PPC shows opportunity cost of production of a good.If an economy wants to increase the production of one good it has to decrease the production of another because resources are limited.

Answer-A

2.Mixed economy involves both private and public ownership while socialist economy involves only public ownership.

Answer-A.

3.Normative statements indicates what ought to and there is no proof of the statement or the statements can\'t be proved.It involves value judgements.

Answer-c

4.A welfare state is a concept of governance in which the state plays central role in maximizing the welfare of the society.

Answer-A

If a question has more than 4 parts then an expert is obligated to answer the first four.