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goldhamster406Lv1

28 Sep 2019

Which of the following is true?

a. Public school administrators have strong economic incentives to operate efficiently.

b. Increasing the competition between public and private schools tends to lower both the cost

and quality of schools.

c. Competition between public and private schools is relatively low at the elementary and

secondary level.

d. Competition among schools is less

please explain it. thanks!!!

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Mahe AlamLv10

30 Sep 2019

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Two conditions that justify government intervention in a market are the presence of external benefits and equity concerns. Both of these issues are present in the case of primary and secondary education in the United States. Think about what education without government education would look like. In the absence of government intervention, all primary and secondary education in the US would be private. Public school districts would not exist. Parents would need to pay private firms (schools) to educate their children.

External benefits

If all education were private, itâs likely that people would buy too little education, from societyâs point of view. External benefits are one reason. When a child is educated, he or she benefits and we expect his or her parents to take those benefits into account when they purchase education. But there are additional benefits to society which parents may ignore. As people become more educated, they are less likely to be unemployed or be criminals and are more likely to volunteer and vote. The presence of these external benefits is an example in support for the government getting involved in education.

Equity

Many families in the United States have low incomes. Among all children in first through twelfth grades in 2001, 46% were from families with incomes below $40,000. Since the cost of private education would be an important share of these familiesâ incomes, most Americans would be concerned about the fairness of relying on markets to decide how much education children receive. Current spending by these families on private education provides some support for this concern. Of all children in private school in 2001, only 25% were from families with incomes below $40,000. Therefore, equity concerns are another example in support for government getting involved in education.

Providing vs. producing education

Most economists think external benefits and equity concerns justify government intervention in education. But it is important to distinguish between government production of education and other forms of government intervention. At the level of elementary and secondary education, K- 12 education, government intervention today mostly means production of education by local school districts. To benefit, children must attend public schools. But this is not the only form intervention could take.
There are other markets where government intervention takes the form of subsidizing peopleâs access to productsâthink of financial aid to college students, for example. Many people in the US think that government should move from producing education to subsidizing access.

One form that subsidy could take is government providing vouchers to parents. Parents would use the voucher to help pay for their childâs education in a private school. After it receives the voucher, the school would turn it in and be paid by a local or state government.

Today there is a lively debate between people who think K-12 education should be delivered publicly and people who think quality and efficiency would be higher if government provided vouchers and the education was delivered by private schools. Some of these quality and efficiency arguments can be based on material we covered this week. Price competition between private schools will pressure each one to produce efficiently. Competition for students will lead private schools to offer programs of interest to parents and their children.

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1. Explain whether a potential exit by students with vouchers will lead to the improvement of public schools. 2. Discuss whether the implementation of vouchers will lead the best students to leave public school, which could lead to a decline in education for the students left behind in the public schools. 3. Consider what might happen to the students who use vouchers to leave public schools in order to attend private schools. How might their academic performance change as a result of switching? 4. Finally, think about the impact of a voucher system on the students in an urban setting. Describe whether all families would have an equal opportunity to access education.

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Because physicians have admission rights to a hospital and are not considered "employees", does that create an economic strain on the hospital's operation? Discuss.

Explain how this type of arrangement (physicians not being hospital employees) would allow for true market competition among physicians. Do you think this type of arrangement provides a better level of quality in medical care to the patient? Explain your rationale.

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tancockroach528

1. A profit-maximizing monopolist will always charge _______ a perfect competitor would.

A. Less than

B. More than

C. The same as

D. Slightly more than cost than

2. A business with market power will typically:

A. Be more innovative than firms in perfect competition.

B. Force employees to work harder and longer.

C. Create new markets due to competitive forces.

D. Have lower productivity.

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A. Lower costs

B. Scarce land

C. Extreme start-up costs

D. Heavy government regulations

4. Which is an example of the government command approach?

A. The growth of community banks

B. Fast food franchises' growth

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5. Between 1961 and 1972, the federal government spent as much on ______ as it did on building highways.

A. Welfare

B. Medicare

C. Crop subsidies

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6. The inefficiency of taxation means that:

A. Governments tax only specific industries.

B. Taxes are applied more to consumers than businesses.

C. Imposing a tax on goods typically reduces the amount produced.

D. Imposing a tax on goods reduces prices and decreases supply.

7. A market where there are only one seller and buyers and have no good alternative is called a (n):

A. Oligopoly.

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9. ______ is paid communication with potential customers in a public medium, such as newspapers and television.

A. Journalism

B. Advertising

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