Answered: describe the four different categories…

describe the four different categories of legislation based on the distribution of costs and benefits and provide examples of each

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter16: Public Goods And Public Choice

Section: Chapter Questions

Problem 2.3P

See similar textbooks

Related questions

Q: Explain the main sources of inefficiency in the public sector

A: The main sources of inefficiency in public sector are Government interference: one of the major…

Q: 1) Besides raising revenue, what is the most likely goal of government that enacts a per unit tax.…

A: Hi! Thank you for the question but as per the guidelines, we answer only one question at one time.…

Q: Choose a program or service that is provided by government. Try to choose a unique example that has…

A: The above questions have been answered below.

Q: 3.1. (Government) Complete each of the following sentences: a. When the private operation of a…

A: a. When the private operation of a market leads to overproduction or underproduction of some good,…

Q: You should research evidence of market failure and government intervention in the assigned country.…

A: Market failure is the situation when there is an insufficient supply of a good or service as…

Q: (Types of Legislation) describe the four different categories of legislation based on the…

A: The cost benefit analysis is an important method used in economic to determine which projects to be…

Q: 18. a. b. C. d. Externalities can be enhanced // market internalized // market internalized //…

A: Externalities: These are the cost or benefits for a third party who does not agree to it.…

Q: For each government action, indicate the type of government activity and justification.…

A: a) New York city bans smoking in restaurants – EXTERNALITY. Smoking in public places creates…

Q: Explain the measures used by the government to correct each of the following sources…

A: In a free economy, the equilibrium price and quantity is determined by the forces of demand and…

Q: Consider the diagram below which depicts a two-household community consisting of household A and…

A: Tax rate refers to the rate at which the government collects taxes from the people in the economy.…

Q: How does social protection, as an area of government spending, both positively and negatively impact…

A: Social protection basically refers to the government's policies and various programs to reduce…

Q: A government decides that product X is a demerit good and product Y is a public good. Which policy…

A: "Correct answer is option d."

Q: Which of the following is a positive externality from education? a.Better-educated people make…

A: Positive externalities are the beneficial side effects arise out of producing or consuming some…

Q: Much of production and distribution involves the creation or the handling of things. a. . Is this a…

A: Production is a method of conversion of raw materials into finished and final good. Distribution is…

Q: How does the problem of limited and bundled choice in the public sector relate to economic…

A: Limited and bundled choice in the public sector leads to a reduction in economic efficiency. The…

Q: To start off, can you think of examples of how we have watched (or are watching) the law respond to…

A: There are two ways 1. Helps the society change with its laws 2. 2. Changes itself for a better…

Q: two reasons why an amendment is more important than a law

A: The laws are the rules and regulations set by the government of a nation which we have to obey in an…

Q: 85. All of the following would be government solutions to externality problems EXCEPT: a.public…

A: NOTE: Since you have asked multiple questions we will be answering only the first one, if you need…

Q: how government can help business organizations in our community

A: Business organization is an enterprise which describes the structure of the business and the goals…

Q: Describe the role of government and need of it, individually, in all types of such market situations

A: In terms of economics, economists identify different major functions of government in the market of…

Q: How do government failures provide rationale and justification for public policy?

A: In the context of public economics, government failure is defined as an economic inefficiency…

Q: Discuss the market failure which justifies government involvement in the economy

A: Market failure can be understood as a situation where resources are not utilised efficiently or in…

Q: No government can sustain or effectively operate without it's powers. Enumerate and discuss each of…

A: Inherent powers are powers of a division of government not particularly listed in the constitution.…

Q: . Directions: Below is a list of the six economic functions of government, followed by a set of 12…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: For which of the following problems can well-designed public policy enhance economic efficiency?…

A: Economic efficiency is achieved where all the factors of production and goods are allocated to the…

Q: three key features of the public policy environment

A: Introduction A government or its institution chooses or adopts a specific and deliberate course of…

Q: Externalities can be ________ by collective (i.e.) ________ action. a. enhanced // market b.…

A: Governments and establishments regularly make moves to disguise externalities, in this way…

Q: Do you believe complicated principles, like competition, apply in both private and public…

A: Competition is a situation under which the various economic firms attempt to obtain a share of the…

Q: Explain the measures used by the government to correct each of the following sources of market…

A: Market Failure refers to the inefficiencies in the distributions of goods and services in the…

Q: Name several nongovernmental regulatory forces.Do you believe self-regulation is more or…

A: Non-governmental: Associations free of government contribution are known as non-administrative…

Q: 6. Charlie loves watching Downton Abbey on his local public TV station, but he never sends any money…

A: Given Charlie loves watching Downtown Abbey on his local public TV station, but he never send any…

Q: When economists look for some explanation for government provision, we want to find some kind of…

A: The economics as a study is based upon the idea that the resources which are present with the…

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: What challenges and opportunities would arise from higher and lower degrees of government…

A: Government intervention in the market refers to the regulation of the market by the government…

Q: how does public opinion impact our society and our political system? (American government 101)

A: By its actual nature, the majority rule process prods residents to shape opinions on various issues.…

Q: What is a market-failure rationale for the government investing in education and training programs?…

A: Governments use fiscal policy to increase employment by increasing the aggregate demand and the…

Q: explain how government impacts on business

A: In a mixed economy or centrally Planned economies the role of the government is important in…

Question

describe the four different categories of legislation based on the distribution of costs and benefits and provide examples of each

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

(Types of Legislation) describe the four different categories of legislation based on the distribution of costs andbenefits and provide examples of each.
Give two reasons why an amendment is more important than a law
Explain the concept of market failure and its implications for both governments and businesses
Describe one function of government in the economy other than correcting externalities. Provide an example.
Explain how government can help business organizations in our community
Question 15 All of the following except which one explain why governments may fail to enhance economic efficiency? a There is limited information relating to the social benefits and costs. b It is difficult measuring social benefits and costs. c It is easier to eliminate programs than to add programs. d Efficient programs may be politically untenable.
. Explain why it might be socially and economically optimal for a government to have a public policy that subsidizes students who attend and graduate college
What are “public goods”? Pick a government good/service that you consume, define what makes it a public good (how is its non-rival and non-excludable). As we discussed in class, the existence of externalities creates an efficiency problem in the provision of these goods and services. Unlike the private sector, State and Local Governments can intervene. Using the example of the public good, you have provided, please provide an example of an externality that will impact its provision, and detail how a government could/should intervene.
What is a market-failure rationale for the government investing in education and training programs? a. Education likelyresults in a negative externality in production, so government investment corrects for the under-provision by private, unregulated markets. b. Education likely results in a positive externality in consumption, so government investment corrects for the under-provision by private, unregulated markets. c. Education likely results in a positive externality in production, so government investment corrects for the over-provision by private, unregulated markets. d. Education likely results in a negative externality in consumption, so government investment corrects for the over-provision by private, unregulated markets.
Which of the following is NOT a feature of a public good? a. Non-excludability b. Non-rivalry c. Always provided by the free market d. Generally provided by the government
In at least 150 words, answer the questions below. What difficulties occur when government attempt to use Ligurian taxes/ subsidies to address externalities.