ECON 616: Local and State Education policy
Three big issues concerning public schools in major cities across the
U.S. are funding, Common Core, and racial segregation.
Like in many U.S. cities, public schools in Philadelphia are on the
ECON 616: HW2
Its possible that people are less careful when they drive a car that has air
bags because air bags provide people a feeling of security. This may account
for the correlation between the air bag use and the increase in car crash.
ECON 616: HW 5
In this case, $70 B for all endangered species is much less than an aggregation of $ 15 B
for each. This exposes the preference knowledge problem of implementing Lindahl
pricing. Namely, even if individuals are willing to be honest about
ECON 616: HW3
Private goods are rival, i.e., ones consumption of one good hampers
anothers consumption of the same good, such as a T-shirt. Therefore, the
social marginal benefit is determined by horizontally (i.e., adding quantity at
ECON 616: HW1
Historically, this phenomenon is not coincidence. The reason is the following.
Social insurance programs, such as social security, Medicare, etc., which consist of a large
proportion of social welfare spending, are funded by federal
ECON 616: HW 4
The opportunity cost is the marginal cost of labor at its next best use. Since the labor market
is perfectly competitive, the marginal cost equals wage which is $20. Thus, the opportunity
cost of the labor employed for the project is