AP-Microeconomics-Visuals-Unit5

AP-Microeconomics-Visuals-Unit5 - Visual 5.3...

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Unit 5 : Microeconomics National Council on Economic Education Visual 5.1 http://apeconomics.ncee.net The Economic Functions of Government Enforce Laws and Contracts. Maintain Competition. Redistribute Income. Provide an Economic Safety Net. Provide Public Goods: Nonexclusion Shared consumption Correct Market Failures: Provide market information Correct negative externalities Subsidize goods with positive externalities Stabilize the Economy: Fight unemployment Encourage price stability Promote economic growth
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Unit 5 : Microeconomics National Council on Economic Education Visual 5.2 http://apeconomics.ncee.net Illustrating a Negative Externality
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Unit 5 : Microeconomics National Council on Economic Education
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Unformatted text preview: Visual 5.3 http://apeconomics.ncee.net Illustrating a Positive Externality Unit 5 : Microeconomics National Council on Economic Education Visual 5.4 http://apeconomics.ncee.net Key Ideas in Public-Choice Economics • Is it rational for government leaders to favor special interests over the general public? Concentrated vs. special interests Information costs • Why are politicians mainly in the middle of the road? Median-voter model of political behavior • Are people rational or irrational when they spend little time evaluating candidates before they vote and when they don’t vote? • What is the effect of bureaucratic entrepreneurs on government?...
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This note was uploaded on 04/25/2010 for the course EDU 234234 taught by Professor Smith during the Spring '10 term at Oregon Tech.

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AP-Microeconomics-Visuals-Unit5 - Visual 5.3...

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