Extreme efficiency comes at a cost of terrible inequality, while perfect equality comes at a cost of terrible inefficiency. However, there are cases where there is no efficiency cost to increased equality. Identify each scenario that is likely to increase equality with little or no efficiency cost. Using money and influence, rich donors successfully lobby for tax cuts for the highest 1% of earners. An extension of unemployment benefits leads to prospective workers taking more time off between jobs. After-school programs in Chicago reduce crime rates among teenagers. Atlanta's investment in public transportation leads to higher worker productivity, as fewer employees miss days or show up late for work. Programs offering free or low-cost childcare in Los Angeles lead to increased labor force participation among women, particularly lower-income women.

Extreme efficiency comes at a cost of terrible inequality, while perfect equality comes at a cost of terrible inefficiency. However, there are cases where there is no efficiency cost to increased equality. Identify each scenario that is likely to increase equality with little or no efficiency cost. Using money and influence, rich donors successfully lobby for tax cuts for the highest 1% of earners. An extension of unemployment benefits leads to prospective workers taking more time off between jobs. After-school programs in Chicago reduce crime rates among teenagers. Atlanta's investment in public transportation leads to higher worker productivity, as fewer employees miss days or show up late for work. Programs offering free or low-cost childcare in Los Angeles lead to increased labor force participation among women, particularly lower-income women.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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