ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423548
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 15, Problem 3.4PA
a)
To determine
The reason for more interest of the producers in government regulations as compared to the consumers and the public interest and special interest theories of economic regulation are to be compared and the capture theory of regulation is to be determined.
b)
To determine
the theories of regulation that explains the reason for the massive fraud of Bernie Madoff went unnoticed for years.
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Chapter 15 Solutions
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
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urgent
part D E
1.10. The US Federal System is the voting method for passing a bill intolaw. It involves 100 members of the Senate, 435 members of the Houseof Representatives, the vice president, and the president, for a total of537 voters. For a bill to pass, it must have a majority in the House, amajority in the Senate, with the possibility of the vice president breakinga tie, and the signature of the President; or if the president opposes thebill, it must have a 2/3 super-majority in both the House and Senate tooverride the veto. Otherwise the bill is defeated.Think of this as a social choice function where the alternatives areA, to pass the bill, or B, to defeat the bill. Does the US federal systemsatisfy:(a) the anonymity criterion?(b) the neutrality criterion?(c) the monotonicity criterion?(d) the decisiveness criterion?(e) the near decisiveness criterion?
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An entity formed between two or more parties to undertake economic activity together is known as --------------
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Question 10
A government is considering reducing the amount of taxes it collects from its citizens each year. Which of the following is the best argument against the tax reduction?
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The government might have a smaller role in the economy.
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Citizens will not be able to purchase as many goods and services as they could previously.
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People do not generally like taxes.
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