Consider the five reform proposals suggested by the authors in this special topic. Indicate why you believe each is either a good or a bad idea. Explain your answers.

Q: Which of the following organizations is not likely to use budgets? Nonprofit organizations.…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: What does the research and experimentation tax credit do? Group of answer choices A)Generates…

A: Answer: Research and experimentation tax credit: this tax credit can be claimed by the taxpaying…

Q: Which of the following is an example of a government transfer payment? Group of answer choices the…

A: Government transfer payments play a major role in the redistribution of income and wealth.…

Q: ____________ refers to an environment where the government guides the behavior of individuals in…

A: Economic Planning refers to a constrained maximization problem wherein the economies have to…

Q: Sarah Marshall pays her state taxes each year and lives in a mansion in Westlake. The taxes are used…

A: Here, it is given that state taxes paid by Sarah Marshall are used to contribute as the funds for…

Q: 8. Agreement and disagreement among economists Suppose that Jake, an economist from a research…

A: The answer is given below

Q: o economic theory, which of the following is NOT a feature of an ideal tax system? Multiple Choice…

A: In economics, the Ideal Tax system is a system that complete the criteria of increasing state…

Q: Which of the following is an example of a progressive tax? Group of answer choices All of the above…

A: Progressive tax can be defined as the tax burden which increases with increase in income of the…

Q: Consider the Laffer Curve. Why does government revenue drop to the right of T∗? (A) People work…

A: Laffer-curve is a graph portraying the government-revenue from taxes corresponding to the existing…

Q: Suppose the government provides some amount of a public good, but it results in a reduction of…

A: Crowding out is the situation where the private provision  is decreases as a result of government…

Q: In Germany in 2009 there was considerable debate about the extent to which the government should be…

A: 1.In 2009, when Germany was facing a recession, the government had to intervene in order to take the…

Q: "Providing health care is obviously a public good. If one person becomes ill and doesn't receive…

A: A public goods is defined as a good that is non-exclusive and non-rivalry in nature.

Q: We are sitting in an "original position" behind a "veil of ignorance." What political philosophy is…

A: This a MCQ .

Q: Advocates of a market orientation argue that exclusive reliance on the visible hand of government…

A: Answer - Given in the question - "Advocates of a market orientation argue that exclusive reliance on…

Q: Explain Biden's education expansion proposal. What economic justification does this proposal rely…

A: Person B is attempting to restore the ‘country U’ backbone by educating more and more middle-class…

Q: Redistribution of funds across communities to finance public goods makes sense when the Tiebout…

A: Solution d) holds/similar Tiebout model redefines the distribution of public goods to the local…

Q: Consider three ways of helping poor people to buy food, clothing, and shelter. The first way is to…

A: Pareto Efficiency is the condition which states that allocation of resources cannot be done with…

Q: Business owners can have many goals. Give ONE example of each of the following: a financial goal, a…

A: A business is a firm that controls the activity of the firm. It means the business does the…

Q: If the government imposed a corrective tax that successfully moved the market from the market…

A: Tax refers to government imposed amount on a particular product which increases the per unit price…

Q: In what way is the private economy better than the government? Select the correct answer below: the…

A: The exists market forces of demand and supply. Equilibrium in the market occurs where marginal…

Q: Economists James Buchanan and Gordon Tullock are well-known for developing Group of answer choices…

A: Both the economist developed public choice model in which choices of public were analyzed.

Q: What do governments typically care about as "benevolent planners"?   Question 3 options:   Both…

A: When talking about a benevolent planner, he is the person or an institution that works to improvw…

Q: If the state government would like to increase tax revenue, please give three examples of…

A: In order to comprehend the burden and incidence of taxes, two key concepts are elasticity and taxes.…

Q: The following table shows how three voters ranked Policy A, Policy B, and Policy C. Which policy is…

A: Majority Decision is the one where more than 50% of the votes are in favor of one policy.

Q: Reflection/Reaction paper about agrarian reform in the Phillipines 300 words.

A: For many period of time the agricultural reform was being controlled by large landlords and the…

Q: explain in detail the difference between the concept of Pareto optimality and Pareto superiority.

A: The Pareto concept or principle states that for many events, about 80% of the effects result from…

Q: Consider mainstream and alternative approach of studying economics: Both share the idea that a.…

A: Economics: It is the study of allocating resources for making choices.

Q: Compare and contrast the objectives of NEP, NDP and NVP

A: The actions being taken by the government in the economic field and cover the systems for setting…

Q: Suppose the government decides to raise the gasoline tax as a way to reduce air pollution and…

A: A corrective tax is a market-based strategy choice utilized by the public authority to address…

Q: Cost-benefit analysis is a way to: A minimize the cost of producing a given amount of government…

A: Option (B).

Q: Which of these scenarios would explain a strategy used to evaluate large numbers in terms of what…

A: A strategy is defined as a plan to help achieve a certain goal.

Q: Ideally, a tax system would require equal sacrifice, not of dollars, but of utility from each…

A: Taxation refers to the practice of governments levying mandatory financial obligations on private…

Q: Which of the following is most likely to result in government failure? Highly competitive markets.…

A: Option 4

Q: The efficiency loss of a tax is the idea that:        in addition to taking income from the…

A: Taxation results in an increase in the price that consumers have to pay above the equilibrium…

Q: Under federalism, some powers such as taxation, lawmaking or education policy might be devolved to…

A: Federalism is defined as the decentralization of powers at the various levels.

Q: When a good is taxed, the side of the market with fewer good alternatives cannot easily leave the…

A: The size of the tax burden depends on the availability of substitutes for the good.

Q: Based on your previous answers, would the government plan to increase production be likely to be…

A:

Q: Economists like markets because, generally speaking...   Question 2 options:   production is…

A: A market economy is an economic system in which the decisions regarding allocation, production and…

Q: Government spending on programs such as Social Security and Medicare are included under:

A: Social security and Medicare are part of Federal budget.

Q: Voters in California are able to vote on propositions to create their own laws and through this…

A: In the California, it can be seen that voters can vote on propositions so that they can create their…

Q: Explain why it might be socially and economically optimal for a government to have a public policy…

A: Subsidy for education would benefit society socially as well as economically. There would positive…

Q: Possible solutions suggested for Social Security include: Group of answer choices Neither of the…

A: Social Security:- Social Security is a government service that gives elderly people, the…

Q: 8. Agreement and disagreement among economists Suppose that Kenji, an economist from a business…

A: In an economy, economists make their analysis on the given scenario and give some ways to deal with…

Q: The state has decided to increase funding for public education. They are considering four…

A: Change of behavior of individuals due to increase in different taxes: 1.Sales tax on food Because…

Q: In Germany in 2009 there was considerable debate about the extent to which the government should be…

A: Government intervention refers to the act of the government regulating the economy or markets and…

Q: Which of the following statements is inaccurate?   Multiple Choice   There is substantial…

A: Market failure is described as a situation in which goods and services are inefficiently distributed…