Explain how the continued evolution of money has increased economic efficiency.
Ans. Over the years , money have evolved from commodity money , metallic money to paper money to bank money. The evolution of money have helped us in reducing the drawbacks that were prevalent in the earlier Staten is barter system. As the volume of transaction increased , paper money is now being replaced by online money and this continues to be evolved with the recent developments in crypto currency . All this evolution have helped in making the transactions easy and efficient which inturn have helped in increasing economic efficiency.
Best of Luck !! !!
Explain how the continued evolution of money has increased economic efficiency.
explain what is meant by the term “economic efficiency.” From the standpoint of economic efficiency, is it a worthwhile goal to eliminate all pollution? 4.what is the “first theorem of welfare economics? “illustrate an efficient outcome for 2 individuals using the Edgeworth box diagram. Explain the conditions under which a market economy would be expected to achieve Pareto efficiency. Provide three examples of “market failure “that are relevant to environmental and natural resource economics.
2. Discuss and explain the evolution of the payments system (money) in as much detail as possible.
3. Under Internal Scale Economies and Monopolistic Competition, explain how International Trade can improve economic efficiency within an industry by changing the types of firms in the industry. (2 points)
true or false, explain if false (f) Efficiency is related to the size of the economic pie, whereas equity is related to how the pie gets sliced and distributed. X (g) The free-rider problem arises when the number of beneficiaries is large and exclusion of any of them is impossible.x
Explain the economic impacts of increased airline safety. It is impossible for airline travel to be too safe? Why or why not? Would you support the government increasing regulations to make flying more safe? Describe the economic costs of this decision. What's the direct and indirect economic costs? A
Explain how heritability affects the speed of evolution.
a. Graphically illustrate how, in a two period model of a nonrenewable resource, economic efficiency in the presence of a positive rate of discount implies increased consumption (and lower prices) today, than would be observed with a discount rate of zero. (7 points) b. What are some of the factors that could make social user costs different from private user costs in the case of mineral extraction? (6 points) c. Graphically illustrate how user cost is affected by the expectation...
how is strategic management and evolution and destination? please explain
[4] Explain why it would not be desirable (from the point of view of economic efficiency) to eliminate all emissions of sulfur dioxide from electric power plants. Now suggest a setting in which zero pollution might be efficient
3. Assume that the money market is initially in equilibrium and that the money supply is then increased. Explain the adjustments toward a new equilibrium interest rate. Will bond prices be higher at the new equilibrium rate of interest? What effects would you expect that interest-rate change to have on the levels of output, employment, and prices? Answer the same questions for a decrease in the money supply 4. How is the chairperson of the Federal Reserve Board selected? Describe...