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Unformatted text preview: 4/21/2008 IF we look at boundaries of central city, city limits has not changed for century but urban areas, concen but decentralization; Ppl moving to rural to central but building out to fringes. So metropolitian is larger. Employment also decentralized, pop moved out, housing market (rich move out poor come in to central city), It offers city whattax instrument to finance all that (property tax)-it’s not income elasticity, so social service should rise, and raise the tax rate which has the consequence of people leave and investment in real property diminish (capital flight) or else it will cut services. Education Factor Market Incomes Housing Property Tax Base Education If you get lower education, income is low, and live in a house where neighbors are poor and cannot get enough property tax base and raise children in a low education. Production Function Outputs Inputs Q = f(Inputs) Self Esteem f(Parent’s Income, Education Level, funding $, Class size, Race, Income, Peers,...
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This note was uploaded on 05/01/2008 for the course ECON 230 taught by Professor Randy during the Spring '08 term at UMass (Amherst).
- Spring '08