Answered: Why are broad social indicators rarely…

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter8: Market Failure

Section: Chapter Questions

Problem 6P

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Similar questions

Discuss how public sector budgets reflect accountability ?
How do government failures provide rationale and justification for public policy?
three key features of the public policy environment
Explain, with the aid of examples the distinction between outputs and outcomes in social service delivery
How is the concept of 'market failure' relevant to government funding?
Assuming the government pays higher cost of production by paying wages that are higher than the private sector rates, analyse the effect of the change in the costs of producing public good caused by government inefficiency?
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.
How does the problem of limited and bundled choice in the public sector relate to economic efficiency? Why are public bureaucracies alleged to be less efficient than private enterprises?
Do you believe complicated principles, like competition, apply in both private and public organizations?
Explain why governments sometimes proceed with a project even if the private costs exceed the private benefits
How does the problem of limited and bundled choice in the public sector relate to economic efficiency? Why are public bureaucracies possibly less efficient than business firms?
What do you see as the biggest flaw in using benefit-cost analysis to guide public policy?

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Why are broad social indicators rarely used as measures of public program performance?