Suppose that welfare gains derived from eliminating output (and unemployment) fluctuations in theeconomy can be measured. Assuming these gains arerelatively small for the average individual, how doyou think this measurement would affect the activist/nonactivist debate?
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Suppose that welfare gains derived from eliminating output (and
economy can be measured. Assuming these gains are
relatively small for the average individual, how do
you think this measurement would affect the activist/
nonactivist debate?
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- The theory of distributive justice that I found most convincing was the process of Utilitarianism. While I do agree partially with the Libertarian theory in regard to the sense of personal choice and freedom, I find the outcome of Utilitarianism to be most feasible. The feeling of collective social involvement, and working towards a distributive process with an outcome of happiness can help gauge overall community satisfaction. Regarding economic distribution, Utilitarianism has deemed the increase of worker participation to assist collective agreement of distribution. "...many utilitarians would favorably view increased worker participation in industrial life and more equal distribution of income." (W.H. Shaw, 2017, p.91) I highly agree with this form of economic distribution. I feel as if Utilitarianism provides a structure for increased worker production that can positively influence society as a whole, while simultaneously improving the economy. Personally, I desire a structure…Suppose that all social programs simultaneously become more generous. In particular suppose thatthere is an increase in UI benefits of $500, and also an increase in welfare benefits of $500, whichare represented in the two-sided search model as payments to everyone who is not in the labor force.What will be the effects on• the unemployment rate, U ,• the vacancy rate, v,• the labor force, Q,• the number of firms, A,• aggregate output, Y , and• labor market tightness, j ≡ A/Q?Would reducing inequality have any benefits for society in general? Specifically, would reducing inequality benefit middle class and upper class households? If so, how? Do you think it likely that attempts to reduce income inequality would reduce people's incentives to work? Why or why not? please put the resources
- Please tell the criticisms of the MARXIAN THEORY OF THE ECONOMICDEVELOPMENTHere is one hypothesis: A well-funded social safety net can increase economic equality but will reduce economic output. Explain why this might be so, and sketch a production possibility curve that shows this tradeoff.Assume that workers whoses are less than $8000 currently pay no federal income taxes. Suppose a new government program guarantees each worker $4000, whether or not he or she earns any income. For all earned income up to $8000, the worker must pay a 50- percent tax. Draw the budget line facing the worker under this new program. Using the line drawing tool, draw the new budget line facing a worker whose wage is such that his or her pre-tax earned income is less than $8000. Label this line 'BC2'.
- Consider an overlapping generations model. Suppose population grows at a 2% rate, and wage grows at a 6% rate. Generation 2 has 500 people, who have an average salary of $30,000, and everyone pays 8% of their income to generation 1. What is the total amount generation 2 pays to generation 1? If generation 3 pays generation 2 the same dollar amount gen-eration 2 paid generation 1, what percentage of their income dothey pay?Does a “rational” individual always reduce labour supply in response to a proportionalincome tax? Why or why not? Use the labour-leisure model to illustrate your response.Consider two groups of workers of equal skill level and experience: those who collect garbage and those who stuff envelopes with campaign fliers. Which group is likely to be paid more and why.
- . In America, working-class individuals who fail to experience upward mobility claim that it is the system ratherthan themselves. T or F?Consider that around 21% of children in America today grow up in poverty. Does this pose any challenge to the idea of "American exceptionalism" use Stiglitz's article as an refrence pleaseThe Environmental Protection Agency (EPA) wants to investigate the value workers place on being able to work in “clean” mines over “dirty” mines. The EPA conductsa study and finds the average annual wage in clean mines to be $42,250 and the average annual wage in dirty mines to be $47,250.a. According to the EPA, how much does the average worker value working in a clean mine?b. Suppose the EPA could mandate that all dirty mines become clean mines and that all workers who were in a dirty mine must therefore accept a $5,000 pay decrease. Are these workers helped by the intervention, hurt by the intervention, or i ndifferent to the intervention?