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Explain how programs such as TANF, EITC, SNAP, and Medicaid will affect low-income individuals and whether or not you think these programs will benefit families
Explain a situation using the supply and demand for skilled labor in which the increased number of college graduates leads to depressed wages.
Explain whether or not this level of redistribution is appropriate and whether more redistribution should occur.
How does a society or a country make the decision about the tradeoff between equality and economic output?
Explain what the long- and short-term consequences are of not promoting equality or working to reduce poverty.
In country A, the population is 300 million and 50 million people are living below the poverty line. What is the poverty rate?
In country B, the population is 900 million and 100 million people are living below the poverty line. What is the poverty rate?
Calculate the share of total income received by each quintile of this income distribution.
In a market without environmental regulations, will the supply curve for a firm take into account private costs, external costs, both, or neither? Explain.
What are the three problems that economists have noted with regard to command-and-control regulation?
What is a pollution charge and what incentive does it provide for a firm to take external costs into account?
What is a marketable permit and what incentive does it provide for a firm to take external costs into account?
What are better-defined property rights and what incentive do they provide to take external costs into account?
As the extent of environmental protection expands, would you expect the marginal benefits of environmental protection to rise or fall? Why or why not?
What are the economic tradeoffs between low income and high-income countries in international conferences on global environmental damage?
What arguments do low-income countries make in international discussions of global environmental cleanup?
In the tradeoff between economic output and environmental protection, what do the combinations on the protection possibility curve represent?
What information or data would you obtain to measure the external [not social] cost?
Would environmentalists favor command-and control policies as a way to reduce pollution? Why or why not?
Consider two ways of protecting elephants from poachers in African countries. Which plan seems more likely to help the elephant population?
Recycling is a relatively inexpensive solution to much of the environmental contamination. Is it a sound policy to make it mandatory for everybody to recycle?
How can high-income countries benefit from covering much of the cost of reducing pollution created by low-income countries?
Label the social optimal output and price as Pe and Qe. On the graph, shade in the deadweight loss at the market output.
The Junk buyers Company travels from home to home, looking for opportunities to buy items. Which will be larger the private or the social benefits?
When a neighborhood is cleaned up and kept neat, there are a number of positive. What types of government policies can encourage neighborhoods to clean up?