Is the death penalty a deterrent to murder? One way to answer is to compare homicide rates in U.S. states that have the death penalty to rates in similar states that don’t have the death penalty (during the same time period). What do studies of this type show? no effect a small deterrent effect a medium-sized deterrent effect a backfire effect

The following is an excerpt describing the Oregon Medicaid lottery: In 2008, Oregon implemented a limited expansion of its Medicaid program for low-income adults through a lottery, selecting names from a waiting list to fill a limited number of available spots. Those selected had the opportunity to apply for Medicaid and to enroll if they met eligibility requirements. Based on the description, you might describe the Oregon Medicaid lottery as a: randomized experiment "As if random" natural experiment a true natural experiment

For questions 44 and 45 consider the following: The town of Fenerbahce has hired world-class econometricians to investigate their criminal justice system. The researchers report an interesting finding. People who were previously detected and punished by law enforcers gain a better understanding of the functioning of the law enforcement system, and are better able to exploit laws designed to protect defendants against the state. Thus, people who have been detected and punished before are better able to avoid detection and punishment. In particular, they report the following facts: The offense of jay-walking causes social harm of $100. A person who has never been punished for jaywalking before faces a 0.5 probability of being detected while jaywalking. A person who has been punished before for jaywalking faces a probability of 0.25 of being detected while jaywalking. The town wants to implement optimal punishment schemes. It is well known that everyone in Fenerbahce is risk-neutral and…

Suppose that Hubert, an economist from an AM talk radio program, and Kate, an economist from a school of industrial relations, are arguing over health insurance. The following dialogue shows an excerpt from their debate: Kate: A popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. Hubert: I think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. Kate: I disagree. I think government funding of health insurance is useful to ensure basic fairness.   The disagreement between these economists is most likely due to (DIFFERENCE IN SCIENTIFIC JUDGEMENT, DIFFERENCE IN VALUES, DIFFERENCE BETWEEN PERCEPTION VERSUS REALITY)   .   Despite their differences, with which proposition are two economists chosen at random most likely to agree? A. Employers should not be restricted from outsourcing work to foreign nations.…

One of the principles of economics is that people respond to incentives. Using this principle, discuss how a tax imposed on people who refuse to get vaccinated against COVID-19 virus affects the national level of vaccination coverage.

Where common pool resources exist, there is a case for government intervention to correct them. But under which conditions can we expect community-based solutions? What could the role of nudges be in this context? Discuss with reference to one or more examples.