Governments will normally use the Utilitarian principle in making decisions on how to distribute the national cake. Discuss five (5) potential problems with the use of this principle.
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Governments will normally use the Utilitarian principle in making decisions on how to distribute the
national cake. Discuss five (5) potential problems with the use of this principle.
Step by step
Solved in 2 steps
- Q2 solution needed i need in words not handwritten solution Q1: The October 30th, 2021 edition of The Economist included an article titled “As EnergyPrices Spike, Governments Reach for the Dirtiest Tool in the Box.” (It is not necessary foryou to read the article; we will provide all relevant information in the questions we ask).The “dirty tool” in question is fossil-fuel subsidies. For Question 1, consider the marketfor natural gas in January 2020, prior to the onset of the Covid pandemic and before anychanges described in The Economist article. Assume that in January 2020, natural gasprices were in a short-run equilibrium.• Draw a graph that shows supply and demand analysis for gas in January2020. This graph will serve as a starting point for your analysis inQuestions 2, 3, 4, and 5.• In drawing this graph, please assume that the demand curve is downwardsloping and the supply curve is upward sloping.• Clearly show the market equilibrium in January 2020.• Please remember to clearly…Over the past 30 years, the government has offered a wide variety of incentives for people to install alternative energy devices such as solar collectors or wind power generators. In many cases, these incentives can reduce peoples’ out-of-pocket costs for such devices to less than one-third of their actual market price. (i) What effect do such subsidies have on the adoption of such alternative technologies? (ii) Is this the best way to foster such alternatives? (iii) How might the fact that a particular technology is subsidized affect whether peoples’ choices of technologies are efficient in the sense described in Figure 1?10.2 help me and explain
- The image attatchded shows a supply and demand curve for a product. (a) Find a price where the supply and demand curve would predict a surplus in the marketplace for the produce. Explain how you know there would be a surplus using using data from the supply and demand curve. (b) Estimate the price where the consumers would completely stop buying the product. Explain how you found your answers by referring to the above graph. (c) Estimate the price where the free market would eventually settle according to the supply and demand curve.what is the economic significance of capas national shrine?1. Whether the government has taken any action on Call to Action ? 2. Discuss the current status of Call to Actio
- Which of the following is most likely to be the best method of reducing the usage of personal cars by the public? a) Decrease of road taxes and fines. b) Building more road and infrastructures. c) Increasing the speed limit on the highways. d) Increasing the parking fees and other service charges.Individuals go for flu injection not only protect themselves against flu but also help to prevent the disease from spreading in the community. (a) What type of externality occurs in the flu injection market? (b) Is the market outcome efficient? (c) What can the government do to rectify the externality issue?Explain key ideas of ecological economics.
- Many people struggle with the idea that economics has any place in a discussion of relevant environmental issues. The unfortunate reality, however, is that policy making surrounding these issues is often influenced by budgetary factors. Environmental/ecological/sustainability economics can help in making sure our natural resources are appropriately valued in these budget analyses. For each of the following methods used to value natural resources, offer a brief explanation of how they work and in what context they might be used. • Cost of illness method • Replacement cost method • Defensive expenditures approach • Contingent valuationIn free markets, when prices don't send the right message, resources are allocated in Pareto- inefficient ways, creating market failures. (a) Discuss an example of a market failure that you find in the economy. Use diagrams if needed. Explain the consequences for the society of this market failure (b) Clearly explain two ways in which the government could help correct the failure described in part (a). Use diagrams when needed. E Please select file(s) Select file(s)C= 2000 + 0.5(Y-T) T= 200 G= 400 I= 500 10. Refer to the table above. If government spending increases by $100, equilibrium output increases by: (A)S100. (B) $200. (C) $400. (D) $800.
