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Identify an unconsummated wealth-creating transaction (or a wealth-destroying one) created by some tax, subsidy, price control, or other government policy, and then figure out how to profitably consummate it (or deter it). Estimate how much profit you would earn by consummating (or deterring) it.
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- True or False: Employee compensation in the form of health insurance is currently subject to personal taxation, making it less desirable for people to get health insurance provided by their employer and more desirable for them to purchase it from a private insurance company.College Retirement Equities Fund (CREF) is a pension fund that has billions of dollars invested in the stock market. Fund participants recently voted on a proposal that would have placed strict limits on the amount of compensation paid to CREF executives. Why do you think 75 percent of the participants voted against the proposal? Provide an economic argument against the proposal.Statement 1: Privatization provides new private owners with a strong incentive to explore new markets while exiting failing ones. Statement 2: Privatization is the process of transferring state property ownership to private persons, usually through the sale of public assets at auction.Statement 3: Privatization is viewed as a means of boosting economic efficiency.Statement 4: Privatization provides new private owners with significant incentives such as higher profit margins and the ability to enhance efficiency. Which of the following is false? Both statements 1 and 2 are true Both statements 3 and 4 are true Options a and b are true Options a, b, and c are all true None of the above are true what is the best answer?
- Suppose you are a manager of a county government project that is meant to provide rent-regulated housing units in low income settlements.Using your knowledge of equilibrium, advice the governor whether this policy will be a success.Government _______ regulations stipulate that inventors will keep complete legal rights to their respective inventions for ________.Describe key points (with clear justification) that you would use to encourage a cohort of farmers and a cohort of employers of several electricity distribution companies to join an appropriate health insurance scheme.
- For each of the following scenarios involving the U.S. government, determine the primary function of government that is being served. An entrepreneur incorporates a new business in the state of Delaware so that the firm can enter into a lease to use a factory and purchase raw materials. Maintaining competition Reallocating resources Promoting stability Enforcing contractsCurrently internet scammers steal an estimated $79million per year from the Australian public. While the majority of the scammed funds leave Australia, around 30% of the stolen funds remain in the country. The Australian government has decided to add a specialised task force to the current government program to tackle internet scammers. This will increase the cost of the program from $1.5million per year to $2.5million per year. The additional resources are expected to reduce the amount of scams on the Australian public by an estimated $1million per year. What is the net social benefit resulting from the added specialised task force? = $______________ Million Provide a detailed explanation of the considerations in your decision. What are the implications of this policy from an ethical and social perspective.For each of the policy objectives listed, identify each as a product of either financial incentives governments provide or the system of intellectual property that governments uphold. Some objectives may not be supported by governments at all. Financial Incentives Intellectual Property Fund basis research Make research and development less risky for private firms Ensure that inventors are rewarded for making useful inventions Transfer a significant share of new inventions under government control Prevent inventors from creating redundant inventions Ensure that inventors are the only beneficiaries of their invention's benefits.
- We know that lobbyists can influence campaigns, elections, and public policy. A good definition of lobbying is: Group of answer choices A person or group of people who are paid by the federal government to do analysis of what people in America care about so that correct public policies can be created. The act of lawfully attempting to influence the actions, policies, or decisions of government officials A person or group of people who talk to legislators and help them implement public policy. A person or group of people who are paid by legislators to help them implement public policy.Explain the extent of the applicability of social political theory in any economy in public financeSuppose an individual is looking to build a house in a plain that is prone to flooding. Because of the risk of damage due to flooding, the buyer's top dollar for building the house is only $290,000. Suppose the cost of building a house in this area is $330,000. A wealth-creating transaction is not possible since the seller's bottom line (or the cost of building the house) is (LESS THAN, EQUAL TO, GREATER THAN) the buyer's top dollar. The difference between the cost of building the house minus the buyer's top dollar is $_______. Suppose the government subsidizes flood insurance for homes in the flood plain. Because of this, the buyer has access to very cheap insurance, worth an expected $70,000. Without such a subsidy, the high likelihood of flood results in extremely high rates for flood insurance. With this subsidy, the individual (IS, IS NOT) incentivized to build a house in the flood plain..
