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- Give typing answer with explanation and conclusion Education leads to public benefits above and beyond those enjoyed by individuals deciding on whether or not to enroll in college. The government is weighing an education policy intervention. In this context, which of these statements is true? a. Leave this market alone; it is efficient and welfare is already maximized. b. A Pigouvian tax on tuition will improve efficiency in this market by aligning private costs and social costs. c. Giving a tax break to families with children enrolled in college will improve market efficiency. d. College is already too expensive. Setting a binding price ceiling on tuition will improve market efficiency1. In what ways does gift giving reduce inequality in society? In what ways does it increase it? 2. If one compares foragers, pastoralists, horticulturalists, and agriculturalists, is there a pattern of change in the allocation and control of resources?Budget Constraints: Sam has an income of $1000 a week from a rental property he owns. Sam also has a job as a legal assistant where he gets paid $50 an hour for the first 50 hours he works. However, he can’t work for more than 50 hours, so for every hour, he works more than 50 he can work as a cashier making 20 an hour. John’s time endowment is 100 hours. a) Draw and label Sam's budget constraint b) What is John’s maximum potential income? c) What is the price/hour of leisure when Sam works fewer than 50 hours, and more than 50 hours/week? Need help for a b c . Thanks
- 10. A social indifference curve showsa . all allocations that yield the same total utility to individuals in the society.b. social attitudes toward equity.c. social attitudes toward efficiency.d. social utility possibilities as a function of resources.1.What are the factors you consider to figure out the opportunity cost of a vacation to Gorakh Hill Station? 2.Efficiency and equality are examples of classic trade-offs in economics. Analyze each of the following statements from the standpoints of efficiency and equality. i. “Amid COVID-19, everyone in society should be guaranteed the best healthcare possible.” ii.“When workers lose their jobs, they should be able to collect Ehsas income support benefits until they find a new job.” 2.Income elasticity of demand measures the responsiveness of demand to changes in income. Explain what is happening to demand and what kind of good is being represented in the following situations. a) Income is rising, and income elasticity of demand is positive. b) Income is rising, and income elasticity of demand is negative. c) Income is falling, and income elasticity of demand is positive. d) Income is falling, and income elasticity of demand is negative. 3.What can be said about the price…1. Which of the following may not raise money for the government? [A] Power of taxation[B] Police power [C] Power of eminent domain [D] Privatization of government’s capitalassets2. In this power of the State, the person who is parting with his money or property ispresumed to receive a benefit. [A] Taxation [B] Police power [C] Eminent domain [D]Forfeiture power3. (CPA Exam) Police power as distinguished from eminent domain. [A] Just compensationis received by the owner of the property. [B] May be exercised by private individuals. [C]Superior to impairment clause of the Constitution [D] Property is taken by the governmentfor public purposes4. The following are common to the inherent powers of the state, except: [A] They arenecessary attributes of sovereignty [B] They interfere with private rights and property. [C]They affect all persons or public. [D] They are legislative in nature and character.5. The basic principle of taxation which states that taxes must be based on taxpayer’s…
- 13) Suppose a certain change will generate £5,000 of benefits and £3,000 of costs.This change can best be described as(a) a potential Pareto improvement.(b) inefficient.(c) Pareto efficient.(d) equitable.Suppose instead the man’s neighbor, who is not a public servant, sees the man dangling from his 4th floor patio. The neighbor springs into action, busting down the man’s door and pulling him to safety from the patio. In gratitude, the man promises to Venmo his neighbor $50,000 for saving him. Is that promise enforceable? a) No, because a promise made on account of something that the promisee has already done is not enforceable b) Yes, because legal sufficiency has nothing to do with adequacy of consideration c) Yes, because there was an offer that was accepted d) No, because the man was obviously incompetent, because only a mindless idiot would have gotten stuck like thatDiberi LA = 100, LB = 200, ALx = 6, ALy = 2, BLX = 10, BLy 5. Sekiranya negara A dan negara B berdagang, maka harga relatif barang X di negara A akan ________ dan harga relatif barang X di negara B akan _________. O A. meningkat; meningkat O B. menurun; menurun O C. menurun; meningkat O D. meningkat; menurun
- 6. Which is the best example of health care insurance in the sense of socializing risk?a. A dental insurance policy that pays for two check-ups a year but nothing else.b. A comprehensive health care policy that essentially pays for everything including check ups but is very expensivec. A health care policy that is relatively inexpensive but only pays for medical expenses after a $2,000 annual deductible is met. After $2,000 the policy pays 100 percent for everything.4. Derive the Slutsky Equation and demonstrate its Slutsky symmetry. Interpret the symmetry.5. The City Government has been using the police force to evict hawkers from the CentralBusiness District (CBD). Construct a discrete choice economic model that the Governmentcan use to incentivize hawkers to shift voluntarily to a location outside of the CBD.In what ways (it) company investments in research and development create positive externalities?
