Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you match those for me? Thank you From the list on your right select the letter that contains the word, phrase, name, etc that

Can you match those for me? Thank you

image text in transcribed
From the list on your right select the letter that contains the word, phrase, name, etc that best matches the word, phrase, name, etc listed on the left. Perfect income equality A. Safety net programs Specialization and Trade 3. Tragedy of the Commons Social costs of producing a good exceed private cost C. Government programs to increase production of goods with positive externalities "Lake Victoria's lethal combination of overfishing and pollution threatens not only the once-abundant fish stocks, but also the fragile environmental D. Require a country to be more efficient than others (Absolute advantage is and economic ecosystems supported by Africa's largest lake. 35 million necessary) people .. depend on these troubled waters for survival." - Slate E. Example of a marketable permit program to deal with negative externalities v "As it stands, black women earn $0.63 for every dollar earned by their Caused by illegal immigration white male counterparts. Native American women eam $0.57 to every dollar, and Latina women earn 50.54. Meanwhile, white women and Asian G. Public good women earn $0.79 and $0.87, respectively." - CNBC An example of income inequality v "The 1990 Clean Air Act Amendment will result in a permanent 10 million Adam Smith ton reduction in sulfur dioxide (SO2) emissions from 1980 levels. ... The new law allows utilities to trade allowances within their systems and/or Poverty trap programs buy or sell allowances to and from other affected sources." - EPA Serves as an evidence for the need to redistribute income "From 2007 to 2016, the average income of the poorest fifth of all U.S. Allow countries to consume at a level beyond their Production Possibilities households rose 12.1 percent to $12,943, while income of the wealthiest Frontier 5 percent saw a 30.6 percent increase to $375,088." - Bloomberg M. Signals the possibility of labor market discrimination Marginal social benefit (MSB) exceeds Marginal private benefit (MPB) Marginal social cost (MSC) curve (the supply curve that takes externality into Supplemental Nutrition Assistance Program (SNAP), Medicare/Medicaid. account ) is found to the left of the marginal private cost (MPC) curve (private Supplemental Security Income Program (SSI), The Earned Income Tax supply curve) Credit (EITC), Temporary Assistance for Needy Families (TANF). Special O. Hurt a country if it is a net importer Supplemental Food Program for Women, Infants and Children (WIC), etc p. Underproduction Clearly defined property rights can help address negative externality Q. Ronald Coase R. Poverty line s. The Lorenz curve would be a 45-degree line T. The Lorenz curve will loop as farther down and away as possible from the 45- degree line

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing a risk based approach to conducting a quality audit

Authors: Karla Johnstone, Audrey Gramling, Larry Rittenberg

9th edition

9781133939160, 1133939155, 1133939163, 978-1133939153

Students also viewed these Economics questions