Only typed answer Back to AssignmentAttempts: ◇Keep the Highest: /45. Distribution of benefits and costsThe Parliament, the legislature of the fictional country of Verben, is considering legislation that will generate benefits of $25 million and costs of $29million. For perspective, Verben's population is 60 million.Passing the legislation is inefficient and if everyone in Verben shared equally in both its benefits and its costs, the Parliament will voteagainst the legislation.If the costs of the legislation are concentrated among a few people instead of widespread among the population, those people will be willing to spendup to $25 million lobbying the Parliament against the legislation. (Note: Assume that the benefits are widespread; therefore, you can ignorethem in the calculations of the few who experience the costs.)The less widely spread are the benefits of the legislation, the higher is the likelihood of lobbying for the legislation by those who will incur itsbenefits.Suppose that, as before, the costs of the legislation are concentrated among a small group, the benefits are very widespread, and the Parliament isresponsive to lobbying. The likely amount spent on lobbying for the legislation is $25 million in which case the Parliament will likely votethe legislation.for

Any project's predicted benefits and costs can be evaluated using the cost-benefit analysis…

Assignment Attempts: 4 Keep the Highest: /4 5. Distribution of benefits and costs The Parliament, the legislature of the fictional country of Verben, is considering legislation that will generate benefit: million. For perspective, Verben's population is 60 million. Passing the legislation is inefficient , and if everyone in Verben shared equally in both its benefits and its cost against the legislation. If the costs of the legislation are concentrated among a few people instead of widespread among the population, the up to $25 million lobbying the Parliament against the legislation. (Note: Assume that the benefits are widespr them in the calculations of the few who experience the costs.) The less widely spread are the benefits of the legislation, the higher is the likelihood of lobbying for the legisla benefits. Suppose that, as before, the costs of the legislation are concentrated among a small group, the benefits are very wie responsive to lobbying. The likely amount spent on lobbying for the legislation is $25 million in which case th the legislation. for

Assignment Attempts: 4 Keep the Highest: /4 5. Distribution of benefits and costs The Parliament, the legislature of the fictional country of Verben, is considering legislation that will generate benefit: million. For perspective, Verben's population is 60 million. Passing the legislation is inefficient , and if everyone in Verben shared equally in both its benefits and its cost against the legislation. If the costs of the legislation are concentrated among a few people instead of widespread among the population, the up to $25 million lobbying the Parliament against the legislation. (Note: Assume that the benefits are widespr them in the calculations of the few who experience the costs.) The less widely spread are the benefits of the legislation, the higher is the likelihood of lobbying for the legisla benefits. Suppose that, as before, the costs of the legislation are concentrated among a small group, the benefits are very wie responsive to lobbying. The likely amount spent on lobbying for the legislation is $25 million in which case th the legislation. for

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter31: The Impacts Of Government Borrowing

Section: Chapter Questions

Problem 6SCQ: What are some steps the government can take to encourage research and development?

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Question 2 Draw a production possibility frontier. The vertical axis shows the production of public sector goods and the horizontal axis shows production of private sector goods. The economy is currently producing at point A on the frontier where 50 per cent of all production is devoted to public sector goods and 50 per cent to private sector goods. (a) Mark the following points on your drawing. (i) Point A. (ii) Point B which shows production following the election of a govemment which increases government spending on both education and the National Health Service. (iii) Point C where unemployment is present in the economy. (iv) Point D where the government takes over production of all goods and services in the economy. (b) Draw another diagram putting on it the original production possibility frontier you drew for (a), labelling it AA. (i) Draw a new production possibility frontier on the diagram, labelling it PP, which shows the position after a devastating war has hit the economy.…
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