Proposals to lower speed limits on interstate highways

Assignment Help Business Economics
Reference no: EM133185241

The government gets involved in regulating products we may buy often citing reasons that the regulations are needed for our own safety.

Proposals to lower speed limits on interstate highways are often defended by saying the lower speed limit will save lives.

Write whether you agree with proposals by some to regulate a product (or a behavior . . like driving) if the goal is to "save lives".

What are the economic costs of having such regulations (i.e. enforcement of speed limits) vs the benefits achieved by those wanting regulations (i.e. saved lives).

Why did the federal government raise the speed limits on interstate highways to 70 or 75 mph some years back if higher speeds kill people?

Reference no: EM133185241

Questions Cloud

Monetary Policy : Discuss the concept of money. Explain the concept of bartering. Explain whether bartering does or does not meet all of the functions of money.
Dealing with Risk and Uncertainty : Evaluate a company's recent actions dealing with risk and uncertainty. Offer advice for improving risk management.
Low-cost price leader enforce leadership : How would a low-cost price leader enforce its leadership through implied threats to a rival? How does a firm become a "low cost" price leader?
Understanding of term three-dimensional framework : Discuss your understanding of the term "three-dimensional framework"
Proposals to lower speed limits on interstate highways : Proposals to lower speed limits on interstate highways are often defended by saying the lower speed limit will save lives.
Explain why consideration of opportunity costs : Explain why the consideration of opportunity costs may be very relevant to a firm. How can opportunity costs affect a business decision?
Think about good or service : Think about a good or service for which you believe there has been a shift in demand or supply.
Type of unemployment on businesses : Discuss different types (frictional, structural and cyclical) of unemployment and the impact of each type of unemployment on businesses.
Discuss the concept of money and concept of bartering : A medium of exchange, a unit of account and a store of value are the three functions of money. Britannica defines bartering

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd