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- The people of Chingola district a town in the Copperbelt province of Zambia are concerned over the activities of the local investor whose copper mining activities have resulted in the pollution of the Kafue river. Some commentators have argued that there is need for Government to come up with a tax to deal with this externality. Using your knowledge of Public sector economics, Identify the type of externality and how large tax rate should the government use in order to eliminate this externality? Why does this tax rate work? Use a diagram to illustrate your answer.For which of the following problems can well-designed public policy enhance economic efficiency? both externalities and market power externalities, but not market power market power, but not externalities neither externalities nor market powerBased on Rosen and Gayer's definition of "organic" and "mechanistic" governments, which view of government makes the most sense towards public economics
- Describe one function of government in the economy other than correcting externalities. Provide an example.What is meant by the concept "laboratories of democracy"? Why do you think state and local governments are excellent laboratories for applying comparative analysis when it comes to the study of state and local governments?How does the problem of limited and bundled choice in the public sector relate to economic efficiency? Why are public bureaucracies possibly less efficient than business firms?
- Define vertical and horizontal equity objectives of a tax system. Which one do you think is more important in establishing equity and/or fairness?Distinguish between a carbon-tax and a cap-andtrade strategy for reducing carbon dioxide and other so-called greenhouse gases (that are believed by many scientists to be causing global warming). Which of the two strategies do you think would have the most political support in an election in your home state? Explain your thinking.Discuss how compensation differs from taxation as a solution to the externality problem? use graphs and explain in detail.