There are two statements below. You are required to comment on each of those statements. Answer in

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There are two statements below. You are required to comment on each of those statements. Answer in few sentences, maximum two paras. You may even present your argument as a list of bullet points or make your point with a simple picture/example/counter example. Anything written over half an A4 page will be ignored.

1) There is no role for government policy in an economy. Discuss this statement in the light of the First Welfare Theorem.

2) In a Competitive Equilibrium of an exchange economy, it is impossible to uniquely determine the absolute value of all the prices. Discuss.

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Contemporary Auditing

ISBN: 978-0357515402

12th Edition

Authors: Michael C Knapp

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Posted Date: Mar 12, 2024 11:42 AM

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There are two statements below. You are required to comment on each of those statements. Answer in

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Expert Answer:

1 The statement that there is no role for government policy in an economy contradicts the principles ... View the full answer

Contemporary Auditing

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