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- How is it possible to bear a cost without realizing it? What are some examples of policies that affect people in ways of which they may not even be aware?How does a government agency raise revenue differently from a private company, and how does that affect the way government makes decisions compared to business decisions?Marijuana sales, primarily for medical use but also recreational sales (in some states,) have become big business and an economic boon to many states. Yet at the federal level, marijuana is still a Schedule 1 drug and illegal under the Controlled Substances Act (21U.S.C. Sec. 811). How is it possible, then, for states to cultivate and sell marijuana without federal intervention? What is the role of each of the three branches of government with regard to policing and regulating marijuana use? What has caused the national “sea change” with regard to legalizing its use?
- 10. A type of corruption where policy implementation skewed to the advantage of some is term........ a. Petty b. Systemic c. Grand d. Bureaucratic e. Bribery 11. How many new local government units have been created in Ghana since 2017? a. 260 b. 16 c. 275 d. 54 c. 90 12. When a policy provides tangible resources or substantive power to its beneficiaries on one hand and impose cost on others, it is a. Material and Symbolic b. Distributive and Regulatory c. Redistribute and Private d. Material and Regulatory e. Material PolicyScenario: The bill includes $130 billion to allow for a return to full-time, in-person teaching at K-12 schools. assistance to small busines, landlords and renters: 30 Billion Obomacare Expansion: 34.2 Billion Child Tax Credit Boost: 110 Billion Vaccine Distribution: 160 Billion school credit: 1 Billion Coronavirus Preparedness and response supplemental appropriation act: 8.3 Billion Families first coronavirus reposne act 225 billion paycheck protection program: 483 Billion Consolidated appropriations act: 920 Billion So we just had one of biggest (if not THE biggest) actions of Fiscal Policy. Now using the Agg Model, you will explain what is happening now... Now please graph what that anticipated impacts of the Biden Covid bill on the Agg Economy. Please label both axis, insert AD (AD-2), draw the initial LRAS (as LRAS-1) and SRAS (as SRAS-1) (ie before the pandemic) and the initial equilibrium/expansion/recession (Real GDP-1). Then draw a new the new graphs that you represent…Scenario: The bill includes $130 billion to allow for a return to full-time, in-person teaching at K-12 schools. assistance to small busines, landlords and renters: 30 Billion Obomacare Expansion: 34.2 Billion Child Tax Credit Boost: 110 Billion Vaccine Distribution: 160 Billion school credit: 1 Billion Coronavirus Preparedness and response supplemental appropriation act: 8.3 Billion Families first coronavirus reposne act 225 billion paycheck protection program: 483 Billion Consolidated appropriations act: 920 Billion So we just had one of biggest (if not THE biggest) actions of Fiscal Policy. Now using the Agg Model, you will explain what is happening now... Question: Now describe the anticipated impacts of the Biden Covid Bill. Remember, the focus is only on one side of the equation: is it Agg. Demand or Agg Supply? Please be specific with provisions in the bill and anticipated impacts on the economy (affecting C, G, Net X or I).
- Say that the government is considering a ban on smoking in restaurants in Tobaccoville. There are 1 million people living there, and each would benefit by 200 from this smoking ban. However, there are two large tobacco companies in Tobaccoville and the ban would cost them $5 million each. What are the proposed policys total costs and benefits? Do you think it will pass?1 Given the following bids to buy and to sell a used book. Bids to buy: $16. $16 . $18 . $18 . $18 . $20 . $22 $22 . $23 . $24 Bids to sell $18 . $18 . $18 . $22 . $23 . $23 . $23 . $23 . $24 $24 Which argument makes the most sense and why? A) set price equal to $22 to maximize sales B) set price at $16, so that more people will buy the product C) set price at $24 so that more people will sell the product D) set price at $18 because three people will buy and 3 people will sell And describe a real life example for what happens to quantity demanded of your product if A) the price of a complement rises B) the price of a substitute rises1. Whether the government has taken any action on Call to Action ? 2. Discuss the current status of Call to Actio
- 12. A justification for government intervention in the economy arises from the fact that market systems usuallyproduce ________ outcomes, but they do not necessarily produce ________ outcomes.A Efficient; equitableB Equitable; efficientC Efficient; profitableD Profitable; equitablec) Instead of introducing the 20% corporate tax in part (b), the government decided to add an ad valorem input tax of 100% to input 2. What is the profit-maximizing amount of each input to use? What is the profit-maximizing output? How much is Rodrigo’s new profit?[22] Suppose the regulator uses its BELIEF about the AMAC function to achieve efficient emissions control using a per-unit uniform emissions tax. a) What per-unit tax would the regulator set? b) What level of aggregate emissions would result given the regulator’s tax? [23] Suppose the regulator uses its BELIEF about the AMAC function to achieve efficient emissions control using a per-unit uniform emissions tax. a) What area(s) represent the welfare loss due to the uncertainty in aggregate marginal abatement costs? b) Which policy (taxes or permits) appears to result in a larger welfare loss due to uncertainty?