Author Archives: dudeworld33

Now that you have had a chance to think about tax systems: Which type do you prefer – progressive, flat tax, income, consumption – and why? How do you think the concept of equity or fairness fits into a tax system – if at all? How about incentives?  Former President Trump says the last taxContinue reading “Chapter 12 Reflection”

Review the definition of a public good before answering this – not all publicly provided goods are public goods. Parks, for example, are both rival and excludable – just think about Maroon Bells. If your good is provided both privately and publicly (recreation centers for example) it almost certainly is not a Public Good. Think of anContinue reading “Chapter 11 Reflection”

Remember to cut and paste question and then include your answer. Also label blog post – Reflection Chapter 10. (Each question below should be answered with 1-2 sentences.)   This is generally a very interesting chapter for everyone…. answer the following questions.  What is an  example of a negative externality that interests you (be very specificContinue reading “Chapter 10 Reflection”

Read through this post before you start. There are three parts to this reflection. You must respond to A, and then pick B or C for the second response in your blog.  Look up the employment trends in manufacturing.  (Try the Bureau of Labor Statistics).  Note i.) when did manufacturing employment reach its peak, and, ii.) whenContinue reading “Chapter 9 Reflection”

Pretend for a moment you are a member of the group considering imposing this tax (city council, state legislature, etc).   1. Give an example of a tax that you have paid in the past.  (1-5 words) 2. As an elected leader, give two reasons from the text to impose, and two not to imposeContinue reading “Chapter 8 Reflection”

1.  Describe efficiency from the perspective of an economist. 2. Why are producer and consumer surpluses important in determining market equilibrium? 3.  Should market efficiency always be the goal of policy setters?  Why or why not? What might an alternative be? Efficiency from the perspective of an economist is when resources are distributed and allocatedContinue reading “Chapter 7 Reflections”

How does this relate to the theories from the chapter?  Now consider a different case.  After Hurricane Katrina and after Hurricane Sandy speculators brought in bottled water, but charged quite a lot for it.  What might have happened had price controls been imposed?  How might speculators have responded?  What would have happened to the quantityContinue reading “Chapter 6 Reflections”

I need you to go walk around your closest shopping district looking at displays. Do you see some that are taking advantage of the concept of elasticity?  Particularly cross-price elasticity? You see this when you see groups of items used together displayed together.  Are all of them on sale or only some of them? UseContinue reading “Chapter 5 Reflections”

In many large cities you can now use your cell phone to call Uber or Lyft instead of hailing a taxi.  Would you expect this to affect the prices of taxi medallions (that is really the supply of taxis)?  Why or why not?  Talk about supply and demand curves in your answer. Or better yet,Continue reading “Chapter 4 Reflections”