Question

Q23:

In 2009, in response to the global financial crisis, the Labor Government handed out $900 cheques to almost all Australian tax-payers. This was an example of

		Keynesian policy in action, aimed at speeding recovery through boosting demand.
		Keynesian policy in action, aimed at speeding recovery through boosting supply.
		Hayekian policy in action, aimed at speeding recovery through boosting demand.
		Hayekian policy in action, aimed at speeding recovery through boosting supply

Q24:

Which of the following displays these two characteristics: non-rivalry and non-excludability in consumption?

		Air
		Fuel
		Clothes
		Netflix

Answer 1

Q23. DUE TO GLOBAL FINANCIAL CRISIS IN 2009 $900 CHEQUES WERE HANDED TO ALMOST ALL AUSTRELIAN TAX PAYERS BY LABOURGOVERMENT. SINCE THE PERIOD WAS OF FINANCIAL CRISIS , THUS MONEY SUPPLY WAS LOW DURING THAT TIME. THIS PARTICULAR ACT FOLLOWS KEYNESIAN POLICY AIMING AT BOOSTING AT SUPPLY OG MONEY DURING FINANCIAL CRISIS.
ANSWER: OPTION 2

SINCE HAYEKIAN WAS A CRITIC TO KEYNESIAN POLICY AND BELIVED IN FREE MARKET CAPITALISM.THUS OPTION 3 & 4 ARE INCORRECT.

Q24. NO RIVAL ARE THOSE WHICH OF ONE CUSTOME BUYS OTHER ALSO GET EQUAL CHANCE OF BUYING.
NON- EXCLUDABLE ARE THOSE WHICH CAN BE ACCESSED WITHOUT PAYING ANYTHING.
HERE AIR IS AVAILABLE FOR ALL AND ITS FREE FOR ALL.
ANSWER: AIR
HOWEVER WE PAY PRICES FOR FUEL,CLOTH AND NETFLIX. SO ALL THESE ARE EXCLUDABLE.
HOWEVER NETFLIX IS NON RIVALRY BUT OTHER TWO ARE RIVALRY. THUS APART FROM AIR, NONE THE OPTIONS HAVE BOTH CHARECTERS SIMULTANEOUSLY.