Author Question: Normative analysis is very important to public finance because _____. a. public policy enacted by ... (Read 157 times)

TFauchery · **on:** Jul 1, 2018

Normative analysis is very important to public finance because _____.

a. public policy enacted by government is the result of voting by individuals
b. positive analysis is full of value judgments
c. we should be concerned with how the world works
d. voluntary exchanges are economically efficient

Question 2

Equity and efficiency _____. Thus, _____.

a. are always consistent with each other; trade-offs between the two are necessary
b. are never consistent with each other; trade-offs between the two are unnecessary
c. might be consistent in certain situations; trade-offs between the two might be necessary
d. might be consistent in certain situations, trade-offs between cannot be made