Question

In: Economics

Advocates of antipoverty programs claim that a. the government has good information about what people are...


Advocates of antipoverty programs claim that

a.

the government has good information about what people are willing to pay to eliminate poverty.

b.

fighting poverty is a public good.

c.

private sector will incur higher costs than the public sector for these programs.

d.

All of the above are correct.

The U.S. government protects fish, a common resource, by

a.

subsidizing the fishing industry.

b.

heavily taxing competing industries.

c.

selling fishing licenses and regulating fish lengths.

d.

None of the above is correct.

Which of the following is an example of government intervention to solve a Tragedy of the Commons problem?

a.

subsidizing basic research

b.

toll charges on congested roads

c.

building lighthouses

d.

cost-benefit analysis

When the absence of property rights causes a market failure, the government can potentially solve the problem

a.

by clearly defining property rights.

b.

through regulation.

c.

by supplying the good itself.

d.

All of the above are correct.

Which of the following is an example of an excise tax?

a.

a tax on tobacco

b.

the portion of federal income taxes earmarked to pay for Social Security and Medicare

c.

a tax on corporate profits

d.

a tax on the wages that a firm pays its workers

Solutions

Expert Solution

1) :-D is right option

2) :-The U.S. government protects fish, a common resource, by

selling fishing licenses and regulating fish lengths.

Common Resources are defined as a Goods that are rival in consumption but not excludable in nature, it means one person uses the good it does diminish the ability of another person to use it, but you can't stop people from taking the good. For example: fish in a pond, enviromental resources,

3):-B is right option

toll charges on congested roads

4):-D is right option

When the absence of property rights causes a market failure, the government can potentially solve the problems

d.All of the above are correct

Property Rights is defined as a bundle of the owners rights, privileges, and limitations for use of resources

5) :-D is right option

Excise Tax is kind of tax that impose on a specific good traded in the market

it is sometimes referred to as a "sin tax"

and it is typically a "per unit" tax

If first one is wrong sorry for that

If you are satisfied with a answer plz upvote thank you i really need that


Related Solutions

Some advocates of anti-poverty programs claim that fighting poverty is a public good. Explain what these...
Some advocates of anti-poverty programs claim that fighting poverty is a public good. Explain what these advocates mean by classifying charity as a public good. Why do governments tend to run programs that help the poor? Can the private sector be left to run those programs? Discuss your answer by focusing on externalities and market failure.
Redistribution of income occurs through the federal income tax and government antipoverty programs. Explain whether or...
Redistribution of income occurs through the federal income tax and government antipoverty programs. Explain whether or not this level of redistribution is appropriate and whether more redistribution should occur.
Q1) Last year the government made a claim that the average income of the American people...
Q1) Last year the government made a claim that the average income of the American people was $34100 However, a sample of 25 people taken recently showed an average income of $34,665 with a standard deviation of $3200. Is the government’s estimate too low? Conduct a significance test to see if the true mean is more than the reported average by the government. Use α=0.05. (a) State the null and alternative hypothesis. (b) Calculate the test statistic. (c) Calculate the...
There has been a lot of information in the news about whistleblowing - both the good...
There has been a lot of information in the news about whistleblowing - both the good and the downside of it.  Please find three articles on this topic and summarize each article for your posting.  Also, comment on how you feel about whistleblowing
What responsibility do you think the federal government has for funding programs for the prevention and...
What responsibility do you think the federal government has for funding programs for the prevention and treatment of HIV infection? Do you think the government should pay for national prevention programs or increase financial aid to cities bearing the medical costs of caring for people with HIV?
What are the four major-government sponsored insurance programs?
What are the four major-government sponsored insurance programs?
What has to be true if advocates of universal medical care are affected by doctors and...
What has to be true if advocates of universal medical care are affected by doctors and insurance companies?What about private medical care?
What is government financial condition? What is the major source for information about financial condition? How...
What is government financial condition? What is the major source for information about financial condition? How can we obtain information for financial condition analysis?
an example of a public good that the government has made excludable
an example of a public good that the government has made excludable
What government, community, and private programs are you aware of that address the needs of hungry...
What government, community, and private programs are you aware of that address the needs of hungry children and families in the United States? What else needs to be done to address this issue?
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT