Question

Q1. In what ways is the purchase of a hammer or of labor services by the military different from the purchase of a missile system? How does this affect government procurement policies in these two areas?

Q2. Should military officers and Defense Department officials by proscribed from working for private defense contractors for a period of several years after termination of their government service?

Q3. Imagine that Congress is considering a bill to reduce the current seventeen-year life of patents to eight years. What negative effects might this change have on the rate of innovation? What positive effect might it have for the economy?

Q4. Members of the poorest fifth of U.S. households have a much smaller share of total U.S. income than is typical in other developed countries. Does this mean that the poorest fifth of U.S. households are worse off in the United States than are the poorest fifth of households elsewhere? Why or why not?

Answer 1

Ques1