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- Using incentives, how could we get someone to change their behavior? O Increase the benefits of activities we want people to perform O Increase the costs of activities we want people to perform Give people more information about possible benefits and costs of activities O Eliminate the opportunity cost of making choices2. Why did free markets and marketing win in the competition with communism?Why is 'coordination failure' a problem in economics? Because different individuals have conflicting preferences which makes it hard to reach mutually beneficial outcomes. Because externalities can lead to under/over production relative to the social optimum. Because this leads to a breakdown of trust in the economy. Because government invention will be necessary to achieve full coordination. O Because a Pareto improvement could be made.
- 20. In which of the following types of political culture do citizens believe that the role of government is to protect and preserve the existing social order? a. Individualistic b. Traditionalistic c. Moralistic d. Socialistic e. CivicI need the answer as soon as possible2. Residents in a town are voting to decide where a new library will be built. The residents" homes are on the same street and the "map" of the town is represented below. The letters represent the location of each house. The numbers represent distance in 100 meters (in other words, house 'a' is 100 meters from house 'b' and 1200 meters from house i). Each house- hold would receive a utility of 12 if the library was built in front of that house; utility decreases by I unit as the distance to the library increases by 100 meters. Use the distance markers (the numbers) to indicate where the library should go according to the following aggregation methods:
- * what does the Balme model Show 2The city of Edmonton is trying to figure out if they should add lights to crosswalks on busy roads. The lights would cost the city $80 000 to install and would improve safety at these crosswalks. If the crosswalk lights reduce the risk of fatality by 1 percent and the city estimates the value of human life is $10 million, what would an economist advise the city to do? Select one: O a. The economist would advise the city to install the lights because the cross out expected benefit of $1 000 000 is greater than the cost. O b. The economist would advise the city to not install the lights because the expected benefit of $80 000 is equal to the cost. cross out O c. The economist would advise the city to install the lights because the expected benefit of $100 000 is greater than the cost. cross out O d. The economist would advise the city to not install the lights because the expected benefit of $10 000 is less than the cost. cross outC. DISTINGUISH BETWEEN THE NEO-CLASSICAL, FREE-MARKET THEORY WITHDEPENDENCY THEORY?
- 1. Consider the following conversation.CHAD: “None of the COVID-19 vaccines in Canada has full Health Canadaapproval, and if you get injured from the vaccines, then the pharmaceutical companiesare not liable. Furthermore, the vaccines do not prevent against the spread ofcoronavirus, though they may reduce symptoms. However, their efficacy wanes aftera few months.”VIRGO: “Vaccines have helped humanity to conquer diseases like tetanus andsmallpox. Why are you saying that vaccines don’t help at all?”Which logical fallacy does Virgo commit?(A) Argument from authority.(B) Ad Hominem.(C) Post Hoc Ergo Procter Hoc.(D) Straw Man.16. Which of the following types of political culture stresses the importance of the individual and private initiative? a. Individualistic b. Traditionalistic c. Moralistic d. Socialistic e. Civic1. Whether the government has taken any action on Call to Action ? 2. Discuss the current status of Call to Actio