Reference no: EM131040193
1. Why does the operation of a market system presuppose that individual rights are protected? Describe an economy in which individual rights are not protected. What institutions of government protect individual rights, and how do they work?
2. What is utilitarianism? What are the advantages and disadvantages of using utilitarianism to determine the public interest? Is some form of utilitarianism currently being used to measure the public interest? Explain. Should some form of utilitarianism be used?
3. Explain the concepts of Pareto optimality and Pareto superiority. How do the concepts differ? Would the Pareto criteria or utilitarianism provide a more effective measure of the public interest?
4. Relate the notion of potential compensation to the concept of Pareto superiority. If the beneficiaries of a change could potentially compensate the losers, is the change in the public interest? Are there some conditions under which potential compensation would suffice as a measure of the public interest and others under which actual compensation should be demanded?
5. What is a cost-benefit analysis? What problems might arise in trying to carry out such an analysis? Is a cost-benefit analysis more closely related to utilitarianism or to the Pareto criteria? Given the necessity of determining what is in the public interest, is a cost-benefit analysis a reasonable method of making the determination? What additional criteria could be used to supplement a cost-benefit analysis?
6. What is the distinction between positive and normative economics? Why is this distinction especially relevant to the study of public finance?
7. Is there a trade-off between equity and efficiency in public policy, or can the two goals be reached simultaneously? Explain how policies might be designed that are both equitable and efficient.
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Two-way analysis of variance
: After completing your initial response, post it to this discussion. Read the Discussion Participation Guidelines prior to posting to ensure you have met all of the criteria of the discussion.
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Question regarding the cyclical unemployment
: Total unemployment is 5%. Frictional unemployment is 2.3% and the economy is at full employment. What is cyclical unemployment? Round to 1 decimal place and no percent sign needed.
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Equilibrium quantity of boxes
: where QS is the quantity of boxes supplied per month. The equilibrium quantity of boxes in the market is ...and the number of firms in this industry when it is in long-run equilibrium is .....
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Advantage of benchmarking
: Which of the following is an advantage of benchmarking?
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What is distinction between positive and normative economics
: What is a cost-benefit analysis? What problems might arise in trying to carry out such an analysis? Is a cost-benefit analysis more closely related to utilitarianism or to the Pareto criteria? Given the necessity of determining what is in the p..
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Identify the 3 types of finance companies
: Your assignment should be a minimum of 2 written pages and utilize APA formatting. In-text citations and a reference page should also be included.
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Social network media or mainstream advertising media
: Who really has the power—social network media or mainstream advertising media? What is meant by “traditional advertising messages interrupt the consumer and present a product-focused one-way spin in their messages”?
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Federalism and gun control
: Federalism and Gun Control: How does the nature of U.S. federalism make it difficult, to the point of being almost impossible, to have any kind of comprehensive gun control?
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Unbiased research is conducted and shared with the public
: Do you think that Universities should be the primary place where "unbiased" research is conducted and shared with the public and with government officials, or do you believe that "Think Tanks" and similar organizations can do an equally-good or even ..
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