What do you see as the biggest flaw in using benefit-cost analysis to guide public policy?

Q: Illustrate using your own words and a suitable example the effect of negative externality such as…

A: Externality is the negative or positive spillover by the consumer or producer which affects the…

Q: What is one way in which an individual citizen can influence the government?

A: Individual citizens can able to influence government through various ways.

Q: Please give the stages of public policies

A: Following are the stages of public policies:

Q: Which is more difficult for a company to accomplish well, an analysis of external opportunities and…

A: A firm needs to analyze the strengths, weaknesses, threats, and opportunities firm. This can be done…

Q: Explain why economists might say that the market for higher education demonstrates externalities and…

A: Higher education when attained by students,gives rise to employment. Therefore according to…

Q: If education produces positive externalities and the government does not intervene in the market, we…

A: Positive externalities occur when an activity creates a benefit to the third person who is not…

Q: How can government prevent market failure?

A: Market failure is the scenario of inefficiency in the distribution and allocation of goods and…

Q: How does social protection, as an area of government spending, both positively and negatively impact…

A: Social protection basically refers to the government's policies and various programs to reduce…

Q: Explain why the federal government funds national defense.

A: In economics, goods and services can be classified on the basis of two characteristics of rivalry in…

Q: In general, what are some of the tactics the government uses to correct market failure? List 3 and…

A: Since you have asked multiple questions, we will answer only the first one for you. If you want the…

Q: What are the reasons for public failure

A: Public failure could be a result of various reasons, that has been explained as follows

Q: How does the problem of limited and bundled choice in the public sector relate to economic…

A: Limited and bundled choice in the public sector leads to a reduction in economic efficiency. The…

Q: How does the problem of limited and bundled choice in the public sector relate to economic…

A: ANS In the political process, the minimal and bundled option appears to decrease economic efficiency…

Q: What is the importance of communication in economic life under government and organizations?

A: Communication plays a giant role in advancing method and reducing poorness. A survey of corporations…

Q: What are core ideas behind less government/free market governance?

A: The free market is a supply-and-demand business mechanism with little to no government interference.…

Q: Define Public Policy according to Laswell

A: Lasswell had an effect on Political Science in the area of Policy, particularly Public Policy and…

Q: How is it possible to bear a cost without realizing it? What are some examples of policies that…

A: Costs are the expenses one has to incur either in the production activities or during the purchase…

Q: 85. All of the following would be government solutions to externality problems EXCEPT: a.public…

A: NOTE: Since you have asked multiple questions we will be answering only the first one, if you need…

Q: Public Policy

A: Public policies are the combinations of actions, laws, regulations, policies and several other…

Q: Evaluate the arguments for government intervention in the markets.

A: Government interventions refer to the interference of the government in the market. This is…

Q: As the Great Depression began in 1929, and millions of Americans found themselves in a terrible…

A: Depression refers to the fall in economic activity severely and for a long time. Great depression of…

Q: How do government failures provide rationale and justification for public policy?

A: In the context of public economics, government failure is defined as an economic inefficiency…

Q: How does government encourage positive externalities in the economy?

A: The situation in which either consumption or production of the goods/ services directly benefits the…

Q: What is the difference between private and social costs?

A: There is a difference between private costs and social costs. This difference should be known to…

Q: Government intervention is required in the case of a public good because everyone can use the good…

A: A public good is a product or service that is available to all members of a society, according to…

Q: Why are some people drawn to government while other people don't want to have anything to do with…

A: The actions by the government authorities to either expand or tighten the economy is the “fiscal…

Q: How does economic rationale and/or political/government/business insights gained from other classes,…

A: We feel that economic rationale most certainly assumes a part in our point of view on this issue. We…

Q: Discuss how public sector budgets reflect accountability ?

A: A budget is an estimate of revenue and expenditure for a given future period, and is typically…

Q: three key features of the public policy environment

A: Introduction A government or its institution chooses or adopts a specific and deliberate course of…

Q: explain when and how the government intervenes in the economy

A: In a free market economy, the resources of production are usually owned by the private individuals…

Q: Next question Which of the following is an example of a positive externality? A. A lower inflation…

A: Positive externality refers to the situation when social benefits exceed private benefits. It refers…

Q: Do you believe complicated principles, like competition, apply in both private and public…

A: Competition is a situation under which the various economic firms attempt to obtain a share of the…

Q: Why does government intervention become necessary in the situation of market failure?

A: Market failure is an economic situation wherein the goods and services in an economy cannot be…

Q: government spending

A: Government spending- government purchases the goods & services to use them efficiently for the…

Q: What challenges and opportunities would arise from higher and lower degrees of government…

A: Government intervention in the market refers to the regulation of the market by the government…

Q: how does public opinion impact our society and our political system? (American government 101)

A: By its actual nature, the majority rule process prods residents to shape opinions on various issues.…

Q: Is it inevitable that government must become involved in supporting investments in new technology?…

A: In the present world, technology is the main driver of change. There has been an increasing world…

Q: How do public television stations, like PBS, try to overcome the free rider problem?

A: When people in society are taking the benefits of goods and services without paying for them, then…