Governments sometimes provide social programs universally to everyone, and sometimes government social programs are means-tested. Briefly describe means-testing, and discuss at least one advantage and at least one disadvantage of this approach compared to universal provision.
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Governments sometimes provide social programs universally to everyone, and sometimes government social programs are means-tested. Briefly describe means-testing, and discuss at least one advantage and at least one disadvantage of this approach compared to universal provision.
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- The graph below shows the market for medical services in a country. Initially, there is no government health care system and the price per unit is 200 TL. Then the government decides to provide health care program in which the citizens pay only 40 TL for any medical acre they take. Total health expenditures without any government health care program is …………… The amount of medical services per year when government provides health care is ………….. Total health expenditures with government health care program is ……………… Government’s total health care expenditure is ………………. Citizens’ total health care expenditure after government health care program is ………. The amount of deadweight loss due to government health care program is …………………In today's economies, governments have a defined economic role, which is fundamentally oriented towards regulating private activities, subsidizing private activity and promoting investment and employment generation. Specifically, which of the following alternatives corresponds to the economic role(s) of governments in a market economy?I. Increase efficiency by ensuring competition, reduce externalities such as pollution, and provide public goods.II. To promote equity by using tax and spending programs to redistribute income in favor of certain groups.III. set a price ceiling on goods and services.Select one:a. I only.b. Only II.c. I and II.d. III only.e. I and III.Suppose that Hubert, an economist from an AM talk radio program, and Kate, an economist from a school of industrial relations, are arguing over health insurance. The following dialogue shows an excerpt from their debate: Kate: A popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. Hubert: I think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. Kate: I disagree. I think government funding of health insurance is useful to ensure basic fairness. The disagreement between these economists is most likely due to (DIFFERENCE IN SCIENTIFIC JUDGEMENT, DIFFERENCE IN VALUES, DIFFERENCE BETWEEN PERCEPTION VERSUS REALITY) . Despite their differences, with which proposition are two economists chosen at random most likely to agree? A. Employers should not be restricted from outsourcing work to foreign nations.…
- Briefly discuss two justifications for government intervention in the economy.Governments generally want people to get immunised against highly contagious viruses suchas COVID-19. Nonetheless many people refuse to take the vaccination jab, because theyoverestimate the likelihood of side effects, or because they are complacent about gettinginfected or the severity of symptoms they might experience. They also might not care orunderstand that their immunity protects others. Use the theories of market failure andgovernment intervention to analyse the motives of government, the anti-vax phenomenonand their consequences. What, if anything should government do to make more people getvaccinated? What would be the problems with such interventions?Economists use the word equity to describe a situation in which Select one: a.each member of society has the same income. b.each member of society has access to abundant quantities of goods and services, regardless of his or her income. c.the benefits of society's resources are distributed fairly among society's members. d.society is getting the maximum benefits from its scarce resources.
- Explain whether each of the following governmentactivities is motivated by a concern about equality ora concern about efficiency. In the case of efficiency,discuss the type of market failure involved.a. regulating cable TV pricesb. providing some poor people with vouchers thatcan be used to buy foodc. prohibiting smoking in public places d. breaking up Standard Oil (which once owned90 percent of all U.S. oil refineries) into severalsmaller companiese. imposing higher personal income tax rates onpeople with higher incomesf. enacting laws against driving while intoxicatedDifferent Schools of thought propose theories to explain government failure. Based on public choice theory, briefly explain the foundations of government failure.Briefly discuss multiplue government interventions in the market that you would consider an intervention that, is not worth the loss of efficiency (deadweight loss) in the economy.
- According to public choice theory, policymakers Group of answer choices place the interests of the public above their own self-interest. are likely to pursue their own self-interest, even if their self-interest conflicts with the public interest. act in ways to maximize economic efficiency. act in ways to bring about an equitable distribution of society's wealth.What distinguishes a public good from a private good? What kind of market failure is addressed when goods are publicly supplied? Why do some private goods like elementary education or public health services get supplied as public goods? In your understanding of evidence from India or other countries on educational outcomes of public schools or delivery of public health services, is public spending on education or public health a good idea, if not, why not?Economists use the word equity to describe a situation in which Select one: a. the benefits of society's resources are distributed fairly among society's members. b. each member of society has the same income. c. society is getting the maximum benefits from its scarce resources. d. each member of society has access to abundant quantities of goods and services, regardless of his or her income.
