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- True/False Road is a type of public good.If an excise tax on cigarettes offsets the negative externalities associated with smoking, it means that: a. The Pareto efficient level of smoking will decline. b. The private marginal benefit of smoking will rise. c. The privately efficient level of smoking will equal the Pareto efficient level. d. The private marginal cost of smoking will decline. 9.In the Principal-Agency relationship in health care markets, the _______ acts as the agent for the ________, the principal. a. Government; insurer. b. Insurer; government. c. Health care provider; patient. d. Patient; health care provider. In the presence of external benefits for a health care service, the private market will generally provide: a. The economically efficient level of output. b. Less than the Pareto efficient level of output. c. More than the Pareto efficient level of output. d. The answer depends on the nature of the benefitsIn order to suppress the spread of a viral disease, the government has resorted to nonpharmaceutical interventions (NPIs) that restrict the mobility of individuals such as quarantine and lockdown. Provide an economic framework, based on private and social benefits and costs that could guide the government in selecting the appropriate form and level of NPI. In the absence of a highly contagious disease, an individual engaging in activity x does not externalize any cost to others. In the presence of the disease, then an infected individual can transmit the disease to others during the performance of his or her activities. a. Discuss the nature of the externality, if there is any.
- There would be a potential market failure if a good was a. nonexcludable, but not if it was both excludable and nonrival b. nonrival, but not if it was both rival and nonexcludable c. both nonrival and nonexcludable, but not if it was either rival or excludable d. either nonexcludable or nonrival Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.While the traditional approach of U.S. government policies for environmental protection has had some level of success, some economists propose Group of answer choices a range of policies stipulating set limits governing pollutant emissions. stringent policies balancing industry profit goals and environmental quality. stringent policies that will return the environment to its former pristine quality. a range of more flexible, market-oriented pollution-control policies.There are never unintended consequences of government intervention to address market failures. true or false
- The government would like to introduce a subsidy to help citizens who need their car for work and cannot afford to buy a ULEZ-compliant car. It also wants to ensure that only citizens who need to drive their car regularly use the subsidy. Instead of the two groups of citizens discussed above, we focus on one particular citizen who does not drive very often, only once a year. As a result, this citizen does not emit excessive pollution even with a car that is not ULEZ-compliant. The government would therefore prefer citizens like her not to buy a new car to avoid having to pay the subsidy unnecessarily. Once a year, the citizen derives a benefit of driving through the ULEZ area of B = 20. She can choose to either buy a new ULEZ-compliant car at a cost of C = 10, 000, denoted x = new, or stick with her old car at no cost, denoted x = old. 5 If she sticks with her old car, she has to pay a ULEZ fee of τ = 12.50 on the day that she drives. Her net benefit of driving on that day is…The government would like to introduce a subsidy to help citizens who need their car for work and cannot afford to buy a ULEZ-compliant car. It also wants to ensure that only citizens who need to drive their car regularly use the subsidy. Instead of the two groups of citizens discussed above, we focus on one particular citizen who does not drive very often, only once a year. As a result, this citizen does not emit excessive pollution even with a car that is not ULEZ-compliant. The government would therefore prefer citizens like her not to buy a new car to avoid having to pay the subsidy unnecessarily. Once a year, the citizen derives a benefit of driving through the ULEZ area of B = 20. She can choose to either buy a new ULEZ-compliant car at a cost of C = 10, 000, denoted x = new, or stick with her old car at no cost, denoted x = old.If she sticks with her old car, she has to pay a ULEZ fee of τ = 12.50 on the day that she drives. Her net benefit of driving on that day is therefore…Which of the following best describes the term annual health insurance deductible? A. the amount that is deducted from your paycheck each year to pay for your policy O B . the amount that you can subtract from your yearly tax return if you provide evidence of continuous health insurance coverage over the past 12 months C. The amount you pay for covered health care services before your insurance plan starts to pay. D. none of the above
- Which of the following statements best describes the EPA economic justice initiative? A.)This consists of a panel of leading economists who conduct research on climate change policy. B.)This organization has taken a more vocal position in recent years that carbon emissions must be reduced. C.)This is a form of regulation intended to reduce the negative effect of externalities. D.)This is part of the United Nations Framework Convention on Climate Change.Indicate whether the statement is true or false, and justify your answer.In the presence of externalities, private and social welfare diverge.Adam and Eve live on two sides of the Garden of Eden, a small suburban development. After they move in, an old dump containing the carcinogenic chemical polychlorinated biphenyl (PCB) is discovered between their houses. If X total tons of PCBs are removed from the dump, Adam and Eve have a true WTP to finance a cleanup as follows: Adam’s WTP is higher than Eve’s. Does this necessarily imply that Eve is less concerned than Adam about exposure to PCBs? Why or why not? Draw one diagram illustrating the two individuals’ demand curves for cleanup and the total demand for cleanup in the neighborhood. What is the total WTP for 3 tons of cleanup? For 4 tons? If cleaning up 2 tons were to cost $12, is the WTP in this small community sufficient to finance it? What are the two potential reasons why a voluntary cleanup might nevertheless fail?