Which of the following is true concerning the PLSAs? a) They help people spend more money b) They are far worse than regular savings accounts in every possible way which explains why no one uses PLSAs c)They tended to be opposed by state governments which had a monopoly on lotteries d) They are legal in only one state in the US because of how damaging they are to a state’s poorer population e) We did not discuss PLSAs in this class
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- State at least one type of conclusion that could be made from the data provided for the KPI. Suggest one other data source that would provide more information to make data-driven decisions. Explain what information that source would supply. (The blue one is mine) or pretty much what can be said of the line graphA number of professional associations, such as the American Medical Association and the American Bar Association, support regulations that make it more costly for their members (for example, doctors and lawyers) to practice their services. While some of these regulations may stem from a genuine desire for higher-quality medical and legal services, self-interest may also play a role. Explain.Many city governments provide transportation subsidies in the form of lowering the cost perride on public transit (e.g. buses or trains) to lower traffic congestion. According to the modelin this class, which of the following statements may be true about this type of transportationsubsidy? Do not worry about the underlying facts of each statement, only whether it makeseconomic sense given our model. (Select one or more.)(a) Subsidies decrease the number of drivers because transit and driving are substitutes.(b) Subsidies decrease the number of drivers because transit and driving are complements.(c) A subsidy is identical to a binding in-kind transfer.(d) The equivalent variation of a subsidy is greater than the cost of a bus/train trip.(e) The equivalent variation of a subsidy is less than the same size lump-sum transfer.(f) We can’t compute equivalent variation since congestion is an externality.(g) Transportation subsidies target low-wealth people because transit is an inferior…
- Is there any veracity on the benefits of privatization for the government and the people? If so, cite examples ofsuccessful privatizations in the Philippines as well in other countries in which there is significant success in privatization.Government interventions are as a result of inefficient markets .This implies that inequalities in wealth that arise from from efficient markets do not warrant government interventions. True or false, and explainSuppose there are two types of persons: high-ability and low-ability. A particular diploma costs a high-ability person $8,000 and costs a low-ability person $20,000. Firms wish to use education as a screening device where they intend to pay $25,000 to workers without a diploma and $ K to those with a diploma. In what range must K be to make this an effective screening device?
- Describe two activities by the government that can cause allocative inefficiency.Om1. 1. ______ capital is the sum of the resources a person possesses as a result of investments in social networks and provides an advantage based on a person’s location in a structure of relationships. Financial Social Virtual Intellectual 2. ______ capital is a negotiation-specific form of social capital, which focuses on the assets that accumulate within a specific dyadic negotiation relationship. Human Relational Financial Personal 3. Which of the following is typically the best way to resolve a dispute with your boss? Discuss it with peers Report it to HR Approach her directly Report it to her bossIn this module we learned that, despite increases in the cost, the value of higher education has increased over time. How can college be made more affordable? Revenues earned by colleges and universities come from three main sources: Tuition and fees paid by students, which have increased faster than the cost of living. Support from governments at the federal, state and local levels. This support is paid for through tax revenues. Even private colleges and universities obtain funding from the government, but government support has declined at all levels in recent years. Alumni contributions. What has caused the cost of college to increase so much? (Not every college has a fancy gym or an Olympic sized pool with a lazy river.)
- A lobbyist in our nation’s capitol must buy 250 votes in the House of Representatives and Senate to win passage of a bill to add Millard Fillmore’s face to Mount Rushmore. Votes in Congress can be purchased according to the following process: V = CM/100,000, where C is the number of dollars contributed to campaign funds and M is the number of three-martini lunches. If three-martini lunches cost $25 each, what is the smallest expenditure the lobbyist could make to ensure Mr. Fillmore’s proper place in history? Option A) 1,000,000 Option B) 25,000,025 Option C) 130,000 Option D) 50,000 Option E) 25,000,000Review the discussion of pitfallsin economic thinking in this chapter. Then identify the fallacy, ormistake in thinking, in each of the following statement: Gold sells for $400 per ounce. Therefore, the US governement could sell all of the gold in Fort Knox at $400 per ounce and eliminate the national debt.Consider three ways of helping poor people to buy food, clothing, and shelter. The first way is to pass laws setting price ceilings to keep these basic goods affordable. The second is to have the government distribute coupons that give poor people a discount when they buy these necessities. The third is for the government to distribute income to poor people. Explain which programme is more likely to have a Pareto-efficient outcome, and explain why the other programmes are less likely to be Pareto-efficient.