Answer:
c. punish crimes and enforce voluntary agreements but not to redistribute income.
Explanation:
Robert Nozick's full statement is "Government should punish crimes and enforce voluntary agreements but not redistribute income".
Libertarianism seeks "liberty". Off course their view of liberty only includes the good parts of liberty and government; government has to provide safety and security to the population but virtually nothing else. All the rest of any government's usual tasks are considered an invasion of privacy and the rights of individuals, e.g. no public education, no public health, no public services, only taxes that cover security related expenses, etc.
Answer:
land rents were high because grain prices were high..
Explanation:
grain prices were high because land rents were high.
land rents were high because grain prices were high.
grain prices were high because land rents were low.
land rents were high because grain prices were low.
none of the above
David Ricardo was a classical economist known for various economic theory. Some of his theories include :
- Labour Theory of Value
- Ricardian Equivalence
- Theory of comparative advantage
- Theory of rent
Theory of rents
David Ricardo defined rest as the part of the produce of an agricultural land that is paid to the landowner for the use of the land. He postulated that benefits of an increase in prices of grain accrue to land owners in the form of rent
He used this theory to answer a question that arose during the Napoleonic wars (18.05-1815) when there was a great increase in corn and land prices. The question was : Did the rise in land prices raise the price of corn or did the high price of corn increase the demand for land and led to an increase in the price of land ?
Answer:
The correct answer is option b.
Explanation:
An increase in the supply of a product will cause the supply curve to shift to the right. This rightward shift in the supply curve will cause a decrease in the price level.
A decrease in the price level will cause the total revenue to decline if the demand curve is inelastic.
With an inelastic demand curve, a decrease in price will cause a less than proportionate increase in the quantity demanded. So the total revenue will decline.
An elastic demand curve, on the other hand, will increase the total revenue by causing a more than proportionate increase in the quantity demanded.
Answer: A.consumer bill of rights
Explanation: