Which of the following can the government use to address an externality? O All of these A subsidy Command and control regulations A tax Tradeable permits
Q: Economics & Personal Finance Think about the job you want in the future. Write a brief scenario…
A: The economies around the world tend to operate with the motive of enhancing their growth,…
Q: The clothes, books, electronics, sports equipment, etc. that you own are examples of real property.…
A: Real estate identifies the land and any material attached to it, including any part of the world…
Q: Let's say that you have put $1,000 in your savings account at a local financial institution, and an…
A: The banks which deals with public(Known as commercial banks) are the financial institution whose…
Q: Assume the economy is experiencing low and stable inflation, averaging 2% a year. Nadia loans her…
A: Given information Inflation rate=2% per year average Brett took loan from Nadia=$12000 to buy a car…
Q: Regulations regarding the disposal of hazardous waste are intended to prevent negative…
A: Negative Externalities are the cost borne by the third party without any consumption of the good.
Q: The government is NOT likely to address a negative externality using I Select |
A: Externality is the cost or benefit that the market transaction brings to the third party or society.…
Q: An accident caused by texting and driving is an example of a(n) ( Select]
A: In a market, there are various activities take place that results in market failure such as…
Q: Total revenue minus explicit and implicit costs equals which of the following? excess profits O…
A: The total amount of income being generated by a company through the sale of its goods and services…
Q: Which regulatory agency protects consumers from injury or death resulting from the use of a product?…
A: The Consumer Product Safety Commission (CPSC) is an independent federal regulatory organisation…
Q: Refer to the following supply and demand schedules for the market for yo-yos. Price Qd Qs $1 100 10…
A: Here, quantity demanded and quantity supplied of yo-yos is given at different price level.
Q: The table below shows the marginal utility from consuming mini pizzas and sodas. If pizzas and soda…
A: Given: The price of mini pizza is = $1 The price of soda is = $0.50 The total amount to spend is =…
Q: Provide three examples of public goods in your hometown. Explain how each is nonrival and…
A: A non-excludable and non-rivalrous public good is one that the government supplies. Defence,…
Q: Producing a good is efficient as long as the external benefits exceed the external costs. True O…
A: An external advantage is an advantage acquired by an individual or firm because of a monetary…
Q: What is measured by how many goods and services a worker produces in an hour? O gross domestic…
A: Meaning of Factors of Production: The term factors of production refer to the situation under…
Q: Answer this for me mate. Much appreciated.
A: Option D You are entitled for peaceful enjoyment of your possesion.
Q: The government grants which of the following to protect the property rights of writers and…
A: The entities in the economy work with different objectives, and are involved in different entities.…
Q: There are never unintended consequences of government intervention to address market failures. True…
A: In a free market, price is determined by pure market forces of demand and supply. Equilibrium price…
Q: Too much of a good or service is produced when there is a O Public good Negative externality…
A: In the absence of market failures, the competitive market allocates resources efficiently and…
Q: You can not own the rights to music, art, writing, or other creative endeavors. True False
A: False, on the grounds that Copyright applies to a genuinely general gathering of imaginative…
Q: When economists measure costs they do not include implicit or opportunity costs. True O False
A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…
Q: Government failure occurs when the benefits of regulation are Too difficult to measure Too high…
A: Economist argues that the free market through the forces of demand and supply optimise the use of…
Q: Public education results in which of the following? O More education than would be provided by the…
A: Public education : It implies government helps by investing in the public education. An educated…
Q: 1. What action should the Federal Open Market Committee (FOMC) take if it sees signs of inflation…
A: The situation that depicts a general rise in the level of prices for goods and services or an…
Q: Discussion Prompt Give an example of the price of a good changing. Explain what determinant of…
A: The markets in a society tend to operate with the assistance of the suppliers of various goods, and…
Q: Government failure occurs when a government's attempt to correct a market failure has unintended…
A: The markets are the place where the buyers of the goods, and services interact with the sellers,…
Q: Which of the following is a NOT public good provided by the government? O Police protection O…
A: public goods are Non rival and Non Excludable. For example roads, Defence or police protection They…
Q: 1. Define a progressive income tax system.
A: A tax is imposed by the government to raise funds for its expenditures. It may be progressive,…
Q: If two television networks merge, it is a vertical merger. O True O False
A: here we can choose the correct answer as follow-
Q: Credibility means the quality or power of inspiring belief. O True O False
A: According to the Merriam-Webster's Dictionary, credibility is defined as "the quality or power of…
Q: For each of the following changes in the market for apples, explain why demand will increase,…
A: 1. A rise in the price of peanut butter (a compliment) leads to a fall in the demand for apples.…
Q: Antitrust laws make which of the following illegal? Anti-competitive behaviors O All monopolies…
A: Economics deals with the allocation of scarce resources among humans with unlimited wants. As a…
Q: Assume the economy has entered a recession. Identify two fiscal and two monetary policy actions that…
A: The economies around the world tend to have various entities in the form of households, firms,…
Q: Which of the following is an example of a negative externality?
A: Externality occurs when there is an impact of an activity (either production or consumption) on the…
Q: The equal protection clause became part of the Constitution as a result of the 19th Amendment. True…
A: The statement is FALSE
Q: When the government makes sure that gas pumps accurately measure the amount of gas they provide, it…
A: Market failure refers to a situation that arises as a result of the inefficient allocation of…
Q: When the government provides K-12 education because educated children provide an external benefit to…
A: The answer is - (Option 4) Positive Externality when the government provides K-12 education because…
Answer this for me mate. Much appreciated.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Refer to Table 12.2. The externality created by the refrigerator production was 100. However, once we accounted for both the private and additional external costs, the market price increased by only 50. If the external costs were 100 why did the price only increase by 50 when we accounted for all costs?Give an example of a positive externality and an example of a negative externality.Show the market for cigarettes in equilibrium, assuming that there are no laws banning smoking in public. Label the equilibrium private market price and quantity as Pm and Qm. Add whatever is needed to the model to show the impact of the negative externality from second-hand smoking. (Hint: In this case it is the consumers, not the sellers, who are creating the negative externality.) Label the social optimal output and price as Fe and Qe. On the graph, shade in the deadweight loss at the market output.
- Externalities: End of Chapter Problem In Chapter 6, we said that taxes create deadweight losses. When we tax goods with external costs, should we worry about deadweight losses? Why or why not? Any deadweight losses O should not conern us. Deadweight losses are the result of transactions that no longer occur and the problem with negative externalities is that too many transactions occur. O should concern us. If there is a negative externality associated with a good, the deadweight loss from a tax simply exacerbates society's welfare costs. from a tax are counter-productive. Why would we tax goods with negative externalities when the remedy for a negative externality is a subsidy? should concern us. Deadweight losses sound bad because they are bad; we should always avoid deadweight losses.Figure: External Costs Price Social cost Supply E D H G Demand Quantity The distance between point I and point H represents the O price to the consumer external cost O private valuc O social costWhich of the following is likely to generate a negative externality? O Planting a tree O Working for long hours O Consuming vegetarian food O Smoking a cigarette
- Commun U ASTRAL15963907 Su Home | Shöreline C E D Multiple Choice O Quantity Refer to the provided supply and demand graph for a product. In the graph, line S is the current supply of this product, while line St is the optimal supply from the society's perspective. One solution to this externality problem is to give consumers a subsidy of the amount FG per unit. tax producers by the amount DE per unit. give producers a subsidy of the amount AB per unit tax consumers by the amount EF per unit Seved SaveSupply 10.00 9.00 8.00 7.00 6.00 MSC 5.00 4.00 Demand 3.00 2.00 1.00 25000 50000 75000 100000 125000 150000 175000 200000 If a tax or subsidy were used to correct the externality, what would be chosen? O a. tax = $4 O b. subsidy = $3 O C. tax = $3 O d. subsidy = $4 B.Which of these is a negative production externality? An airline manufacturer must hold up production of a plane at great cost due to delays in its global supply chain. A cereal manufacturer suffers losses due to a drought and unexpected increases in market prices of grains that it uses in its cereals. O Consumers complain to the wrong regulators about price gouging in gasoline markets. A producer of lead for batteries that are used nationwide emits noxious gases in its factory town and local people are getting sick. Thch Save
- 11. Compared to a good with no externalities, a good with a negative externality will appear to have experienced a OIncrease in Supply ODecrease in Supply Olncrease in Demand ODecrease in Demand at each corresponding price...e2Time left 0:16:1 Suppose that elementary education creates a positive externality. If the government does not subsidize education, then Select one: the equilibrium quantity of education will be less than the socially optimal quantity of O a. education O b. the equilibrium quantity of education is optimal the equilibrium quantity of education will be greater than the socially optimal quantity of education C. Od. the equilibrium quantity of education will be equal to the socially optimal quantity of education Next page page r on this page