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Suppose that economic outcomes can be classified as either good or bad. Governments differ in ability and this affects the likelihood of good outcomes. There are two types of governments: high ability or low ability. The prior probability that a government is high ability is 1/2. The probability that the economy is good given that the government is high ability is 3/4, while the probability that the economy is good given that the government is low ability is 1/4. In this case, the incumbent government can manipulate the economy and the electorate will learn (update) their beliefs about the ability of the incumbent government based on the observed state of the economy.
a) What is the probability that the government is high ability given that the economy is good? What is the probability that the government is high ability given that the economy is bad?
b) Suppose that the probability of the opposition being of a high type is 1/2. Voters vote for the government with the highest probability of being of a high type. What is the probability that the incumbent government will win an election against the opposition if the economy is good? What is the probability the incumbent government will win if the economy is bad?
How has public policy helped to shape the way that urban Americans have spent their leisure time throughout the period that we have examined in class? Have such policies hindered a
The structural interdependence, in fact, forms the basis for the policy maker's choice behaviour for policy or policy mixes. The spectrum formed by various policy mixes depends on
Problem: (a) What do you meant by public policy? What does the study of public policy involve? (b) How are problems that might lead to public policy identified and defined?
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