罗森 财政学 第七版(英文版)Chap009

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大学英语课本答案大全

大学英语课本答案大全

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罗森财政学知识点

罗森财政学知识点

罗森财政学知识点1. 罗森财政学的定义和背景罗森财政学是以美国经济学家罗森(Rosen)为代表的公共经济学派的一个重要分支。

它主要研究公共部门和私人部门之间的关系以及公共支出和税收对经济运行的影响。

罗森财政学在20世纪60年代兴起,并在之后几十年中得到了广泛发展和应用。

2. 罗森财政学的基本假设罗森财政学基于一系列基本假设,其中最重要的是“人们对于公共产品和服务具有非排他性消费特征”。

这意味着,一旦公共产品或服务得到提供,任何人都无法排除其他人享受它们带来的好处。

这种特征使得私人市场无法提供足够数量和质量的公共产品,需要相关部门来进行干预。

3. 公共产品与私人产品在罗森财政学中,将产品分为公共产品和私人产品两类。

公共产品具有非排他性消费特征,并且一旦提供给一个人使用,其他人也可以免费享受到它们带来的好处。

而私人产品则具有排他性消费特征,只有购买者支付了相应的费用,才能享受到产品的好处。

4. 公共产品的特征公共产品具有以下几个基本特征:(1)非排他性消费特征:一旦公共产品提供给一个人使用,其他人也可以免费享受到它们带来的好处。

(2)非竞争性消费特征:一个人对公共产品的使用不会减少其他人对该产品的使用。

(3)无法通过市场供给:私人市场无法提供足够数量和质量的公共产品。

5. 公共支出和税收罗森财政学研究了公共支出和税收对经济运行的影响。

根据罗森财政学理论,相关部门通过提供公共产品和服务来改善社会福利,并通过税收来融资。

合理配置公共支出和税收可以实现社会资源最优化配置,并提高整体福利水平。

6. 公共支出与经济增长罗森财政学认为,合理增加公共支出可以促进经济增长。

适当投资于基础设施建设、教育、医疗保健等领域,可以提高生产力和劳动力素质,进而推动经济发展。

然而,过度的公共支出可能会导致财政赤字和债务累积,对经济稳定产生负面影响。

7. 税收与经济效应罗森财政学研究了税收对经济的影响。

税收可以用来调节收入分配、实现资源再分配,并提供公共产品和服务。

罗森财政学第七版(英文版)Chap009

罗森财政学第七版(英文版)Chap009

罗森财政学第七版(英文版)Chap009CHAPTER 9 – Social Insurance I:Social Security and Unemployment InsuranceMultiple-Choice Questions1. A pay-as-you-go system meansa) you pay for your dinner as you go to the table to eat.b) current working citizens pay for current retired citizens.c) there is no need for taxes since current workers pay for current retirees.d) retirees are paid from accounts that have accumulated with interest over theirworking lives.e) all of the above.2. Asymmetric information generally impliesa) information between parties is not equal.b) all parties are fully informed.c) information is costless.d) information is too costly to transmit.e) a and c.3. A fully funded plan requiresa) you to pay for your dinner as you go to the table to eat.b) current working citizens to pay for current retired citizens.c) no taxes since current workers pay for current retirees.d) retirees to be paid from accounts that have accumulated with interest over theirworking lives.e) all of the above.4. An actuarially fair return meansa) returns on investments are indexed to the stock market.b) returns on investments have to be positive.c) benefits received, on average, would be equal to the premiums paid.d) premiums for insurance are generally paid by the government.e) none of the above.5. When workers save less during their working lives due to the fact that they have beenpaying Social Security taxes, this is known asa) the Social Security effect.b) the wealth substitution effect.c) the bequest effect.d) the life cycle hypothesis.6. The Social Security earnings testa) applies only to workers between 65 and 69 years of age.b) was redesigned in the 1980s to include foreign workers.c) has a tax rate of no more than 16.9 percent.d) does all of the above.7. Social Security pension benefits area) subject to income taxes for those with certain income levels.b) nontaxable for all retirees.c) subject to state, but not federal, income taxes.d) subject to capital gains taxes.e) all of the above.8. The Social Security Administration has which program(s) to administer?a) disability paymentsb) health benefitsc) pensionsd) survivors' benefitse) all of the above9. The percentage of unemployed Americans that actually collects unemployment insurancebenefits isa) 9 percent.b) 18 percent.c) 25 percent.d) 33 percent.10. An earnings test as it relates to Social Security impliesa) benefits are reduced by some predetermined amount for those who have notreached normal retirement age.b) the amount of money earned during the working life of an individual determinesthe amount of benefits received.c) family earnings determine the amount of benefits received.d) all of the above.11. Social security taxes are projected to fall short of benefits starting ina) 2005.b) 2010.c) 2016.d) 2020.e) 2030.12. Social insurance can be justified on the grounds ofa) adverse selection.b) decision-making costs.c) income distribution.d) paternalism.e) all of the above.13. The retirement effect isa) when people retire later than they normally would have due to Social Security.b) when people decide not to retire at all because of problems with Social Security.c) when people retire earlier than they normally would have due to Social Security.d) when people save less for their retirement due to Social Security.e) none of the above.14. The gross replacement rate isa) the proportion of pretax earnings replaced by unemployment insurance.b) a rate of employment in key sectors of the economy.c) the percentage of each paycheck that is removed for unemployment insurance.d) the rate that tax receipts are used to cover tax expenditures.e) none of the above.15. A current worker may save more towards retirement so that he or she will have more toleave his or her children later. This altruistic motive is known as thea) altruism effect.b) bequest effect.c) income effect.d) savings effect.Discussion Questions1. Suppose in the market for labor that the labor supply curveis perfectly inelastic. Thiswould mean that the supply curve is vertical. Furthermore, suppose that demand is normal and downward sloping. Your textbook has explained that unemployment taxes are paid entirely by the employer (demanders). Who actually pays the tax in the scenario described above?2. Suppose that a fresh college grad gets a new job initially paying $20,000 a year. Theemployee gets a 3 percent raise annually. After 5 years of working, the employee quits and never works again. How much will this worker have earned over her brief working career? How much will she have paid in Social Security and Medicare taxes if the tax rate is 7.45 percent?3. Suppose that the ratio of retirees to working citizens is currently 1 to 5, meaning thatthere are 5 working people for every retiree. Suppose that in thirty years the ratio will change to 1 to 2. If benefits remain the same, what will happen to the tax rate assuming retirees are provided benefits in a pay-as-you-go system? How much would benefits decrease if the tax rate remained the same?4. A worker within the middle-income class is preparing to retire. In the year before heretired, his gross monthly earnings are $2,000. His Social Security benefits will be $1,200 per month. Before he retired, his income was subject to a tax of 25 percent. Find his before-tax and after-tax replacement rates.True/False/Uncertain Questions1. Having unemployment insurance available makes people work less.2. The percentage of retired older workers has decreaseddramatically since the introductionof Social Security.3. Social Security benefits have played an important role in the improved economic statusof the elderly over time.4. Unemployment taxes are collected from both employees and employers.5. A pay-as-you-go system of financing Social Security is not as good as a fully fundedsystem.6. A worker can begin receiving benefits as early as age 62.7. Social Security is used to redistribute income.8. Average indexed monthly earnings are derived from the worker’s earnings history anddetermine the primary insurance amount (PIA).9. Having a Social Security program makes people less inclined to save for their ownretirement.10. The gross replacement rate is typically 95% of pretax earnings.Essay Questions1. Work disincentives in the system of Social Security have seen the number of persons inthe program increase dramatically. What incentives could be put in place to reverse, or at least slow, this trend?2. Why should firms in industries with higher levels of turnover be required to pay more inunemployment insurance payments?3. Do you feel that when you retire there will still be Social Security? If so, do you feel thatbenefits will be at present levels or tax rates will have increased? Finally, has this discussion changed your plans regarding your own personal savings for your retirement?Answers to CHAPTER 9 - Social Insurance I:Social Security and Unemployment InsuranceAnswers to Multiple-Choice Questions1. b2. a3. d4. c5. b6. a7. a8. e9. d10. a11. c12. e13. c14. a15. bAnswers to Discussion Questions1. The suppliers of labor (employees) would be totally responsible for the paying the tax,despite the fact that the tax was levied on employers.2. The worker will have earned a total of approximately $106,182. She will have paidapproximately $7,910.59 in taxes.3. Initially, a worker paid for 20 percent of a retiree’s benefits. In the future, the sameworker would be responsible for paying for half of a current retiree’s benefits. If benefits remained the same, then each worker’s tax burden would increase by approximately30 percent of the cost of benefits. If tax rates remained the same, then benefits wouldneed to fall by approximately 60 percent.4. His before-tax replacement rate would be 1,200/2,000 = 0.6. His after-tax replacementrate would be 1,200/1,500 = 0.8.Answers to True/False/Uncertain Questions1. U2. F3. T4. F5. U6. T7. T8. T9. U10. FAnswers to Essay Questions1. Increasing the retirement age would see fewer people in the program. Other solutionsinclude removing the survivor’s benefits and introducing a more stringent wealth threshold that says that those persons with a certain wealth are not allowed to receive benefits.2. The employees in these industries are more likely to need unemployment benefits in thefuture.3. This is a personal question but, as recently as August 2004,the current chairman of theFederal Reserve, Alan Greenspan, has warned that benefits will need to be reduced for future recipients or that there will need to be increases in taxes. Many working adults today are changing their saving patterns because of this outlook.。

哈维罗森

哈维罗森

哈维罗森《财政学》哈维•罗森(Harvey S. Rosen)是当今美国新生代的著名经济学家之一。

他出生于1949年,1974年毕业于哈佛大学,获经济学博士学位,随后在美国著名的普林斯顿大学经济系任教。

罗森的研究成果涉及理论经济学与财政学的诸多领域,在世界一流的经济学杂志上发表了相当多的论文,编辑与撰写了6部专著。

其最著名的著作就是《财政学》。

此书一出版,就受到美国各大学的普遍欢迎,现在,在美国一流大学的本科生财政学教材中,基本上以它做教材。

《财政学》(英文版)出版后,被翻译为多种文字在西班牙、德国、加拿大、中国等多个国家出版发行,流行于世界各地,受到普遍的欢迎,成为世界一流大学的首选财政学教材。

世界上目前就税制体系而言,主要是两大类,即美国的税制与西欧的税制。

我们引入增值税,一个很大的动因是着眼于出口退税,即为了利用关税贸易总协定所允许的以出口退税来提高我国产品的国际竞争力,这里所谓的“退税”,退的就是“增值税”。

而美国则没有增值税,美国税制中三大主体税,即所得税、销售税与财富税,都均有分析,其对于围绕着种种税制而展开的正反面意见,都有细致的介绍,并作了明晰的梳理。

中国目前所面临的种种财政问题,其实在美国也照样存在。

所以,我们有认真研读人家的理论与经验的必要。

中国的税制与美国不同,前面已经说过,中国的税制并不是中国人的发明,而是照搬西欧的。

资本主义与自由弗里德曼弗里德曼的《资本主义与自由》一书出版之后在理论界掀起了一场思想的革命,它使经济自由主义深入到经济学界的每个角落。

这本书至今已经卖出超过五十万本、并且被翻译为十八种语言。

这本书指出自由市场在理论上和实践上都是应该被提倡的概念,并且对此提出了许多惊人的结论。

《资本主义与自由》一书着重介绍了弗里德曼的经济自由主义思想。

作者同时介绍了政治自由,以进一步来讨论它与经济自由两者之间的密切联系。

并且,作者从人类历史发展的历程阐述了经济自由的必然性。

该书主要阐明了两个思想:第一,资本主义社会一切活动的最终目的是达到经济自由,经济自由是政治自由得以实现的基础。

罗森财政学复习资料(双语版)

罗森财政学复习资料(双语版)

罗森财政学复习资料(双语版)第一篇:罗森财政学复习资料(双语版)罗森财政学复习资料(双语版)Unified budget: The document which itemizes all the federal government’s expenditures and revenues.统一预算:联邦政府在一种文件中将其支出逐项列出的文件Regulatory budget: an annual statement of the costs imposed on the economy by government regulations 管制预算:政府管制对经济产生的成本Entitlement programs: programs whose expenditures are determined by the number of people who qualify ,rather than preset budget allocations.公民权利性计划:(是指有关社会保障、公共福利计划、农产品价格维持等法律规定受益人和收益数额的政府支出项目)项目的成本不是由固定的美元数额来决定,而是由符合条件的人的数量决定。

Substitution effect :the tendency of an individual to consume more of one good and less of another because of a decrease in the price of the former relative to the latter.替代效应:是指一种商品价格的变化所引起的使消费者调整该种商品与其他商品需求量比例的效应。

Income effect : the effect of a price change the quantity demanded due exclusively to the fact that the consmer’s income has changed 收入效应:收入效应指由商品的价格变动所引起的实际收入水平变动,进而由实际收入水平变动所引起的商品需求量的变动。

财政学钟晓敏PPT课件

财政学钟晓敏PPT课件
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课堂讨论 • 你用什么指标衡量中国政府规模?你觉得中国政府规模合适吗? • 课后习题1
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大政府?小政府?
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• 在自由竞争的资本主义阶段
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• 财政学的创始人是亚当·斯密 • 《国民财富的性质和原因研究》
(国富论), 1776年出版,是财 政学创立的标志
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第二章 财政学的分 析工具
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2.1 实证分析与规范 分析
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• 设想罗杰斯先生每天的收入是10美元,这时政府计划对工资所得课税20%, 于是,罗杰斯的税后工资是8美元。假设罗杰斯是理性经济人,对此他会做 出什么反应呢? • 工作得更多? • 工作得更少? • 无动于衷?
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• “最小化”政府职能理论 • 这种理论认为,政府主要履行三项职能:
• 保卫国家的安全; • 保证本国公民的生命和财产安全; • 进行最基本的公共设施的组织和建设。
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• 20世纪30年代的经济危机席卷全球,程度之严重前所未有,市场机制在宏 观经济领域的缺陷充分暴露。另一方面,20世纪30年代,苏联工业化一日 千里,取得了极大的成就。
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• 凯恩斯从当时资本主义现实经济问题— —有效需求不足,论证了政府干预的必 要性,从此,西方各国政府以前所未有 的热情扩大了政府职能。
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• 20世纪70年代,政府干预的局 限性与缺陷日益暴露,经济出 现停滞膨胀的局面。

财政学_哈维罗森_第七版_课后习题答案

财政学_哈维罗森_第七版_课后习题答案

第一章P.164.a.政府对经济的影响增加了。

如果政府规模是由其直接支出来衡量,这项法规不会直接导致政府支出的增加。

然而,这可能会导致较高的遵从成本,并在“规制预算”中得到体现。

b.这项法律可能不会增加政府支出,但遵从这些管制的高昂代价将会增加管制预算。

c.很难说政府对经济的影响是增加了还是减少了,因为难以确定这一现象是反映了政府规模的扩大还是缩小。

一种可能是,GDP保持不变,而政府对商品和服务的购买减少;另一种可能是,政府对商品和服务的购买增加,但增长的比率低于GDP同期增加的比率。

同时还应考虑同期联邦政府的信贷、规制活动以及州和地方的预算等。

d.政府对经济的影响总体上可能并不改变。

如果联邦减少向州和地方政府的补助,联邦预算将要缩减。

然而,如果州和地方政府通过增加税收来抵消这一影响,把各级政府作为一个整体来看,其规模并不会以想象的幅度缩减。

第二章P.327.利用相关软件可以得出结论:赤字和利率之间存在着微弱的负相关关系。

但仅仅5年的数据得到的检验结果并不可靠。

因为货币政策、经济活动的水平等因素都会影响利率。

第三章P.494.a.当社会福利函数为W= UL+UA时,社会无差异曲线是斜率为-1的直线。

就整个社会而言,两人的效用对社会福利的边际贡献是相等的,即社会对二者的效用同等重视。

b. 当社会福利函数为W= UL+2UA时,社会无差异曲线是斜率为-2的直线。

这表明,与利维亚相比,社会两倍重视于奥古斯塔斯的效用。

c.结合效用可能性边界与社会无差异曲线,该种社会福利函数下的两种可能的最优解如下图所示。

ULUL8.当马克的收入的边际效用等于朱迪收入的边际效用时,社会福利最大化。

对已知条件中的两个效用函数求一阶导数,使MU M=MU J,则最大化条件为I J=4I M,因为固定收入是300美元,这意味着马克应该有60美元,朱迪应该有240美元,此时社会福利达到最大化。

10.a.错误。

帕累托效率的必要条件是,两种商品的边际替代率要等于其边际转换率。

罗森 财政学 第七版(英文版) 配套习题及答案Chap004

罗森 财政学 第七版(英文版) 配套习题及答案Chap004

CHAPTER 4 - Public GoodsMultiple-Choice Questions1. Public goods are characterized bya) nonrivalness.b) excludability.c) the sum of the MRSs equaling MRT.d) all of the above.2. Market mechanisms are unlikely to providea) prices.b) nonrival goods efficiently.c) supply and demand.d) none of the above.3. A pure private good isa) nonrival in consumption and subject to exclusion.b) rival in consumption and subject to exclusion.c) rival in consumption and not subject to exclusion.d) all of the above.4. Commodity egalitarianism refers to commodities thata) are important for most consumers.b) are too dangerous for most consumers.c) should be made available to all consumers.d) are good ideas but never produced.e) are produced in bulk.5. Charging individual prices that are based on consumers’ willingness to pay isa) government price supports.b) will pricing.c) second tier pricing.d) price discrimination.6. Equilibrium for public goods is characterized bya) MSB = MSB.b) MRS = MRT.c) MRS = MRS = MRS=…=MRS = MRT.d) MC = MB.e) MRS – MRT = MSB.7. Summing demand curves horizontally sends market ______________ to individuals,while summing vertically sends market ______________ to individuals.a) price; priceb) quantity; quantityc) quantity; priced) price; quantity8. Public goods can bea) provided privately.b) provided publicly.c) subject to free rider problems.d) all of the above.9. A ________ is a person who wants to enjoy the benefits of a public good withoutcontributing his or her marginal benefit to the cost of financing the amount made.a) free riderb) politicianc) price makerd) price optimizer10. Congestible public goodsa) are nonrival in consumption.b) can not be priced in the market.c) are rival in consumption.d) are never provided by the private sector.11. A private good isa) nonrival in consumption.b) subject to free rider problems.c) subject to exclusion.d) not subject to exclusion.e) none of the above.12. When those that do not contribute to the costs of a public good are denied use, this is acase ofa) exclusion.b) being nonrival.c) price discrimination.d) infeasibility.e) all of the above.13. Which of the following is a public good?a) public defenseb) public televisionc) a libraryd) schoolse) all of the above14. Pure private goods are supplied througha) the market.b) government taxes.c) merit pricing.d) none of the above.15. School vouchers area) provided by the government.b) provided by private organizations.c) public funds to be used for private tuition.d) all of the above.Discussion Questions1. Suppose there are two individuals with identical demand curves characterized by theequation Q = (33/2) – (P/2). What is market demand if these demand curves are added horizontally? Vertically?2. Redo problem 10 of Chapter 4 in your textbook. Assume now that the marginal cost ofgetting snow plowed is now $24.3. Use the answer you found when adding market demand curves vertically in Question 1above to find the market equilibrium quantity if the market supply is constant at 10.4. Suppose you are given the following demand curves: Q = 32 – P and Q = 16 – (P/2).Add these two demand curves vertically and find the market demand curve.5. Suppose there is a public good that has market supply characterized by the equation X =(P/3) – (32/3). Suppose further that market demand for this good can be characterized by the equation X = 25 –P. Find the equilibrium quantity of the public good that will be supplied.True/False/Uncertain Questions1. The free rider problem causes less than optimal production of a public good.2. Pure private goods are nonrival in consumption.3. Most goods that are nonexcludable are pure public goods.4. Vertical summation of demand curves yield results equivalent to those of horizontalsummation.5. Increasing the quantity of a pure public good can be done at zero cost.6. Demand curves for pure public goods satisfy the law of demand.7. Pure public goods involve positive externalities.8. Increases in spending on education will lead to an increase in student performance.9. Privatization means taking services that are supplied by the government and turning themover to the private sector for provision.10. Private goods are always provided by the private sector.Essay Questions1. You have read that the free rider problem affects equilibrium in a public good context.Explain how this situation can be modeled as a prisoner’s dilemma game.2. Discuss and contrast the advantages and disadvantages of public highways versus tollroads.3. Some economists believe that public schools would improve if they were subjected tocompetition. Discuss the pros and cons of this idea.。

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CHAPTER 9 – Social Insurance I:Social Security and Unemployment InsuranceMultiple-Choice Questions1. A pay-as-you-go system meansa) you pay for your dinner as you go to the table to eat.b) current working citizens pay for current retired citizens.c) there is no need for taxes since current workers pay for current retirees.d) retirees are paid from accounts that have accumulated with interest over theirworking lives.e) all of the above.2. Asymmetric information generally impliesa) information between parties is not equal.b) all parties are fully informed.c) information is costless.d) information is too costly to transmit.e) a and c.3. A fully funded plan requiresa) you to pay for your dinner as you go to the table to eat.b) current working citizens to pay for current retired citizens.c) no taxes since current workers pay for current retirees.d) retirees to be paid from accounts that have accumulated with interest over theirworking lives.e) all of the above.4. An actuarially fair return meansa) returns on investments are indexed to the stock market.b) returns on investments have to be positive.c) benefits received, on average, would be equal to the premiums paid.d) premiums for insurance are generally paid by the government.e) none of the above.5. When workers save less during their working lives due to the fact that they have beenpaying Social Security taxes, this is known asa) the Social Security effect.b) the wealth substitution effect.c) the bequest effect.d) the life cycle hypothesis.6. The Social Security earnings testa) applies only to workers between 65 and 69 years of age.b) was redesigned in the 1980s to include foreign workers.c) has a tax rate of no more than 16.9 percent.d) does all of the above.7. Social Security pension benefits area) subject to income taxes for those with certain income levels.b) nontaxable for all retirees.c) subject to state, but not federal, income taxes.d) subject to capital gains taxes.e) all of the above.8. The Social Security Administration has which program(s) to administer?a) disability paymentsb) health benefitsc) pensionsd) survivors' benefitse) all of the above9. The percentage of unemployed Americans that actually collects unemployment insurancebenefits isa) 9 percent.b) 18 percent.c) 25 percent.d) 33 percent.10. An earnings test as it relates to Social Security impliesa) benefits are reduced by some predetermined amount for those who have notreached normal retirement age.b) the amount of money earned during the working life of an individual determinesthe amount of benefits received.c) family earnings determine the amount of benefits received.d) all of the above.11. Social security taxes are projected to fall short of benefits starting ina) 2005.b) 2010.c) 2016.d) 2020.e) 2030.12. Social insurance can be justified on the grounds ofa) adverse selection.b) decision-making costs.c) income distribution.d) paternalism.e) all of the above.13. The retirement effect isa) when people retire later than they normally would have due to Social Security.b) when people decide not to retire at all because of problems with Social Security.c) when people retire earlier than they normally would have due to Social Security.d) when people save less for their retirement due to Social Security.e) none of the above.14. The gross replacement rate isa) the proportion of pretax earnings replaced by unemployment insurance.b) a rate of employment in key sectors of the economy.c) the percentage of each paycheck that is removed for unemployment insurance.d) the rate that tax receipts are used to cover tax expenditures.e) none of the above.15. A current worker may save more towards retirement so that he or she will have more toleave his or her children later. This altruistic motive is known as thea) altruism effect.b) bequest effect.c) income effect.d) savings effect.Discussion Questions1. Suppose in the market for labor that the labor supply curve is perfectly inelastic. Thiswould mean that the supply curve is vertical. Furthermore, suppose that demand is normal and downward sloping. Your textbook has explained that unemployment taxes are paid entirely by the employer (demanders). Who actually pays the tax in the scenario described above?2. Suppose that a fresh college grad gets a new job initially paying $20,000 a year. Theemployee gets a 3 percent raise annually. After 5 years of working, the employee quits and never works again. How much will this worker have earned over her brief working career? How much will she have paid in Social Security and Medicare taxes if the tax rate is 7.45 percent?3. Suppose that the ratio of retirees to working citizens is currently 1 to 5, meaning thatthere are 5 working people for every retiree. Suppose that in thirty years the ratio will change to 1 to 2. If benefits remain the same, what will happen to the tax rate assuming retirees are provided benefits in a pay-as-you-go system? How much would benefits decrease if the tax rate remained the same?4. A worker within the middle-income class is preparing to retire. In the year before heretired, his gross monthly earnings are $2,000. His Social Security benefits will be $1,200 per month. Before he retired, his income was subject to a tax of 25 percent. Find his before-tax and after-tax replacement rates.True/False/Uncertain Questions1. Having unemployment insurance available makes people work less.2. The percentage of retired older workers has decreased dramatically since the introductionof Social Security.3. Social Security benefits have played an important role in the improved economic statusof the elderly over time.4. Unemployment taxes are collected from both employees and employers.5. A pay-as-you-go system of financing Social Security is not as good as a fully fundedsystem.6. A worker can begin receiving benefits as early as age 62.7. Social Security is used to redistribute income.8. Average indexed monthly earnings are derived from the worker’s earnings history anddetermine the primary insurance amount (PIA).9. Having a Social Security program makes people less inclined to save for their ownretirement.10. The gross replacement rate is typically 95% of pretax earnings.Essay Questions1. Work disincentives in the system of Social Security have seen the number of persons inthe program increase dramatically. What incentives could be put in place to reverse, or at least slow, this trend?2. Why should firms in industries with higher levels of turnover be required to pay more inunemployment insurance payments?3. Do you feel that when you retire there will still be Social Security? If so, do you feel thatbenefits will be at present levels or tax rates will have increased? Finally, has this discussion changed your plans regarding your own personal savings for your retirement?Answers to CHAPTER 9 - Social Insurance I:Social Security and Unemployment InsuranceAnswers to Multiple-Choice Questions1. b2. a3. d4. c5. b6. a7. a8. e9. d10. a11. c12. e13. c14. a15. bAnswers to Discussion Questions1. The suppliers of labor (employees) would be totally responsible for the paying the tax,despite the fact that the tax was levied on employers.2. The worker will have earned a total of approximately $106,182. She will have paidapproximately $7,910.59 in taxes.3. Initially, a worker paid for 20 percent of a retiree’s benefits. In the future, the sameworker would be responsible for paying for half of a current retiree’s benefits. If benefits remained the same, then each worker’s tax burden would increase by approximately30 percent of the cost of benefits. If tax rates remained the same, then benefits wouldneed to fall by approximately 60 percent.4. His before-tax replacement rate would be 1,200/2,000 = 0.6. His after-tax replacementrate would be 1,200/1,500 = 0.8.Answers to True/False/Uncertain Questions1. U2. F3. T4. F5. U6. T7. T8. T9. U10. FAnswers to Essay Questions1. Increasing the retirement age would see fewer people in the program. Other solutionsinclude removing the survivor’s benefits and introducing a more stringent wealth threshold that says that those persons with a certain wealth are not allowed to receive benefits.2. The employees in these industries are more likely to need unemployment benefits in thefuture.3. This is a personal question but, as recently as August 2004, the current chairman of theFederal Reserve, Alan Greenspan, has warned that benefits will need to be reduced for future recipients or that there will need to be increases in taxes. Many working adults today are changing their saving patterns because of this outlook.。

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