What is a valid government response to a market with positive externalities? a) The implementation of...
What is a valid government response to a market with positive externalities? a) The implementation of a tax b) The provision of subsidies c) Increased regulation of the transaction d) The provision of free information regarding the true costs and benefits of the transaction
Consumers often face a trade-off between ______ and ______. a) higher income; productive capacity b) leisure; time c) current consumption; future consumption d) labor; future consumption
Homework Answers
What is a valid government response to a market with positive externalities?
Answer: To influence the effect of positive externality, such as providing free education, the government will provide subsidies which will provide more productive workers and improved welfare. Hence answer is:
b. The provision of subsidies
Consumers often face a trade-off between ______ and ______.
c) current consumption; future consumption
As increasing current consumption means less disposable income which will lower the future consumption level.
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What is a valid government response to a market with positive
externalities? a) The implementation of...
Products with positive externalities are under-consumed, thus creating a market failure. How can the government correct...
Products with positive externalities are under-consumed, thus creating a market failure. How can the government correct this failure? (Check all that apply) I. By taxing the output of the product to increase tax revenue. II. By paying subsidies to the producers to lower the cost of the product to potential buyers. III. By reducing the marginal social benefit of the product, thus eliminating the externality. IV. By requiring producers to manufacture more of the product. V. By producing it themselves...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers to high-cost domestic producers, wasting resources domestic producers buy more of the good, increasing the gains from trade domestic producers produce more output, increasing the gains from trade deadweight losses are eliminated because foreign producers sell below their product cost QUESTION 20 As a result of tariffs, domestic producers tend to • gain more than domestic consumers lose • spend less money on lobbying...
1. In response to Intensifying competition due to globalization and deregulation, U.S. employers sought to reduce...
1. In response to Intensifying competition due to globalization and deregulation, U.S. employers sought to reduce their labor costs by all of the following EXCEPT: _____. a. moving production to law wage countries b. promoting right-to work legislation c. strengthening government regulation d. utilizing more part-time and contract employees 2. The World Trade Organization has been criticized for ________. a. taking a largely free-trade philosophy over a fair-trade philosophy b. failing to reduce trade...
5. Correcting for negative externalities - Regulation versus tradable permits Suppose the government wants to reduce the...
5. Correcting for negative externalities - Regulation versus
tradable permits Suppose the government wants to reduce the total
pollution emitted by three local firms. Currently, each firm is
creating 4 units of pollution in the area, for a total of 12
pollution units. If the government wants to reduce total pollution
in the area to 6 units, it can choose between the following two
methods: Available Methods to Reduce Pollution 1. The government
sets pollution standards using regulation. 2. The...
improves efficiency at the expense of equality Which of the folloying is an out-of-pocket expense of...
improves efficiency at the expense of equality Which of the folloying is an out-of-pocket expense of attending college but not an opportun cost? ) room and board ome uition all theAbove noré of the D 5) Econol nists assume that people act out of self-interest. Which of the following is most consister that assumption? ■ People ignore the effects of their decisions on others. O People are concerned with the effects of their decisions on others to the extent that...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect forecasts of consumer demand. c. externalities and foreign competition. d. incorrect forecasts of consumer demand and foreign competition. 16. Which of these consumption activities will most likely impose an external cost? a. An executive plays a vigorous game of golf. b. A student in a dorm plays her CDs at 120 decibels late at night. A young mother exercises to anaerobics video A construction...
THUMBS UP ? ? ? ? ? for correct answer. 17 QUESTION 13 A competitive market...
THUMBS UP ? ? ? ? ? for correct answer.
17
QUESTION 13 A competitive market economy is unlikely to provide an efficient quantity of some public goods because: the technology involved in the production of public goods makes it difficult for private firms to produce them even though, once produced, they could be marketed efficiently. Ob.only the government has the vast resources necessary to produce public goods. C. private production of public goods generally results in a large amount...
please answer those two questions Questions 1. Do you think the efforts of Brazil's government to...
please answer those two questions
Questions 1. Do you think the efforts of Brazil's government to keep the economy growing will be successful? Why or why not? 2. What downsides might Brazil experience by implementing quotas, tariffs, and measures to devalue its currency? Video Case Keeping Brazil's Economy Hot It's been hot in Brazil. No, we're not talking about the country's temperature: We're talking about its economy, which has been growing at a heated pace. In 2010, the country's GDP...
TRUE OR FALSE/ MULTIPLE CHOICE and word response questions. C. a more permanent government involvement in the ba...
TRUE OR FALSE/ MULTIPLE CHOICE and word response
questions.
C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....
1) A bond is a ["financial contract: a borrower agrees to repay the amount that was...
1) A bond is a ["financial contract: a borrower agrees to repay the amount that was borrowed and also a rate of interest over a period of time in the future.", "risk-free investment", "type of stock in a company", "rate of interest"] and also a ["risk-free investment", "rate of interest", "guarantee of payment", "rate of business growth"] over a period of time in the future. A corporate bond is issued by firms, but bonds are also issued...
Question Completion Status: QUESTION 19 When the government increases tariffs production switches from low-cost foreign producers to high-cost domestic producers, wasting resources domestic producers buy more of the good, increasing the gains from trade domestic producers produce more output, increasing the gains from trade deadweight losses are eliminated because foreign producers sell below their product cost QUESTION 20 As a result of tariffs, domestic producers tend to • gain more than domestic consumers lose • spend less money on lobbying...
5. Correcting for negative externalities - Regulation versus
tradable permits Suppose the government wants to reduce the total
pollution emitted by three local firms. Currently, each firm is
creating 4 units of pollution in the area, for a total of 12
pollution units. If the government wants to reduce total pollution
in the area to 6 units, it can choose between the following two
methods: Available Methods to Reduce Pollution 1. The government
sets pollution standards using regulation. 2. The...
improves efficiency at the expense of equality Which of the folloying is an out-of-pocket expense of attending college but not an opportun cost? ) room and board ome uition all theAbove noré of the D 5) Econol nists assume that people act out of self-interest. Which of the following is most consister that assumption? ■ People ignore the effects of their decisions on others. O People are concerned with the effects of their decisions on others to the extent that...
15. Causes of market failure include a. externalities and market power. (b) market power and incorrect forecasts of consumer demand. c. externalities and foreign competition. d. incorrect forecasts of consumer demand and foreign competition. 16. Which of these consumption activities will most likely impose an external cost? a. An executive plays a vigorous game of golf. b. A student in a dorm plays her CDs at 120 decibels late at night. A young mother exercises to anaerobics video A construction...
THUMBS UP ? ? ? ? ? for correct answer.
17
QUESTION 13 A competitive market economy is unlikely to provide an efficient quantity of some public goods because: the technology involved in the production of public goods makes it difficult for private firms to produce them even though, once produced, they could be marketed efficiently. Ob.only the government has the vast resources necessary to produce public goods. C. private production of public goods generally results in a large amount...
please answer those two questions
Questions 1. Do you think the efforts of Brazil's government to keep the economy growing will be successful? Why or why not? 2. What downsides might Brazil experience by implementing quotas, tariffs, and measures to devalue its currency? Video Case Keeping Brazil's Economy Hot It's been hot in Brazil. No, we're not talking about the country's temperature: We're talking about its economy, which has been growing at a heated pace. In 2010, the country's GDP...
TRUE OR FALSE/ MULTIPLE CHOICE and word response
questions.
C. a more permanent government involvement in the banking system, even creating a pational banking system that owns and operates most of the global and regional banks. Deshort-term increases in government spending to stimulate the economy. 20. When describing the state of the U.S. economy, reporters often refer to the nation's GDP, its unemployment rate, and the CPI. Explain what each of these terms means and why each measure is significant....
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