In 1998, the National Highway Traffic Safety Administration distributed the film elmet Laws, We All Pay the Price. Two reasons for this title are that some injured sts are treated at public expense (Medicaid) and that the dependents of those cidents receive public assistance. oes the purchase of a motorcycle by an individual who does not wear a helmet cate a negativ externality? Explain.
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- Can you think of a reason why making cars safer would create negative externalities?Suppose you are told that electronic cigarettes cause health problems such as depression and problems with arteries. You also are told that electronic cigarettes do NOT produce second-hand smoke, meaning that e-smoking (called "vaping") by one person does not harm a person standing nearby. How might economists respond? A standard welfare economist would say that e-smoking imposes an externality if health insurance is pooled and a. premiums are shared. A standard welfare economist would say that e-smoking does not increase social costs, unless having health O b. insurance makes people more likely to use electronic cigarettes. A behavioral economics would ask if people who use e-cigarettes become addicted. C. All of the above. d.What is negative externalities?
- Which of the following does NOT generate negative externalities in part through health care costs? a. Smoking b. Alcohol abuse c. Antibiotic overuse d. Opioid abuse e. None of the aboveEconomists Kenneth Chay and Michael Greenstone found that in the two years following the passage of the Clean Air Act of 1970, the sharp reduction in air pollution also led to a decline in infant deaths. Although this and other studies provide compelling evidence of the link between pollution and infant health, it is not clear that reductions from the much lower levels of ambient pollution today would have the same effect. Which of the following reasons could explain this? A. Today, the level of pollution is much higher. Therefore, it will take a much larger reduction in air pollution to reap benefits similar to those in 1970. B. When levels of pollution are high, the marginal benefit of reducing pollution also is high. It follows therefore that the benefit of reducing air pollution in 1970 would be much higher than the benefit from a proportional reduction in air pollution today when the level of pollution is much lower. C. When levels of pollution are…How would the owner respond to the negative externality caused by smokers?
- Smoking imposes externalities on non-smokers, but non-smokers can also impose externalities on smokers. Is this statement true or false? Why or why not?John Cassidy, a writer for the New Yorker magazine, wrote a blog post arguing against New York City’s having installed bike lanes. Cassidy complained that the bike lanes had eliminated traffic lanes on some streets as well as some on-street parking. A writer for the Economist magazine disputed Cassidy’s argument with the following comment: “I hate to belabor the point, but driving, as it turns out, is associated with a number of negative externalities.” What externalities are associated with driving? How do these externalities affect the debate over whether big cities should install more bike lanes? J. Cassidy. Battle of the Bike Lanes. New Yorker, March 8, 2011. The World Is His Parking Spot. Economist, March 9, 2011. Initial Response should be at least 250 words and should include at least one reference in APA format. The Peer Response should be at least 100 words and add value.Historically, Vaccinations have prevented the spread of certain diseases such as chicken pox or megningtis. What type of externality takes place with the consumption of such vaccines. Explain with words and a graph.
- Why are taxes, one traditional remedy for negative externalities, less than ideal for smoking cessation in the United States? a. Nicotine is addictive/demand is inelastic, and smokers are mostly poor, so in effect cigarette taxes reduce the quality of life of people we're trying to help without substantially reducing smoking b. Demand is inelastic, and smokers are mostly rich, so they don't reduce smoking as a result of taxes c. Demand is elastic, and smokers are mostly old, so taxes reduce smoking but cause increased anxiety among the elderly d. Demand is elastic, and smokers are mostly young, so they quit smoking but are then more likely to experiment with illegal drugsWhat are the costs of pollution according to the Lancet Commission on pollution and health? Why are those numbers likely to be an underestimate? Explain.The National Flood Insurance Program (NFIP) provides flood insurance for homeowners and small businesses. The policyholders pay just 10% of the actual cost of flood insurance. When such highly-subsidized insurance is available, people are more likely to build homes in areas subject to sever flood damage. What is this behavior is called? a. Negative externality b. Positive externality c. Adverse selection d. Moral hazard