Instructor's Manual IMChap005

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1、Part2–PublicExpenditure:PublicGoodsandExternalitiesChapter5–ExternalitiesBriefOutline1.TheNatureofExternalities2.GraphicalAnalysisa.Implicationsb.Conclusion3.PrivateResponsesa.BargainingandtheCoaseTheoremb.Mergersc.SocialConventions4.PublicResponsestoExternalities:TaxesandSubsidiesa.

2、Taxesb.Subsidies5.PublicResponsestoExternalities:EmissionsFeesandCap-and-TradeProgramsa.EmissionsFeeb.Cap-and-Tradec.EmissionsFeeversusCap-and-Traded.Command-and-ControlRegulation6.TheUSResponsea.ProgresswithIncentive-BasedApproaches7.ImplicationsforIncomeDistributionsa.WhoBenefits?b

3、.WhoBearstheCost?8.PositiveExternalitiesa.ACautionaryNoteAnswerstoEnd-of-ChapterQuestions1.Beforepassengerswerechargedforcheckedbags,theywouldchoosewhethertocheckbagsorcarrythemonbasedonwhethertheywerewillingtotradetimeforthehassleofdealingwithcarry-onbags.Thatis,passengerswhovalueds

4、avingtimebynothavingtodealwithbaggageclaimmorethanthecostofdealingwithcarry-onbaggagewillchoosetocarryon.Thefactthatpassengersarenowchargedforcheckedbaggagebutnotforbaggagecarriedontotheplanewillinefficientlyallocateoverheadspace.Passengerswillcarryonmoreandbiggerbagstosavethefeechar

5、ged,resultinginfulloverheadluggagecontainers.Overheadspacewillgotothefirstpassengersontheplane,ratherthanbeingdistributedmoreevenly.Bagschecked(withoutacharge)atthegateforcessomewhowouldchoosetocarryonevenwithoutthefeetohavetocheck,whichisalossinefficiency.Thosewhoelecttocarryontoavo

6、idthefee,butwouldratherchecktheirbags,alsoresultinaninefficiency.2.TheCoasetheoremsuggeststhatthechurchandthecomedyclubcouldnegotiate.Ifthechurchpossessedtherighttothe“noise”inthebuilding,thecomedyclubcouldpaythechurchtobequiet.Ifthecomedyclubpossessedtherighttoquietinthebuilding,the

7、churchcouldcompensatetheclubforthenoise.5-5Copyright©2014McGraw-HillEducation.Allrightsreserved.NoreproductionordistributionwithoutthepriorwrittenconsentofMcGraw-HillEducation.Part2–PublicExpenditure:PublicGoodsandExternalities1.Itisthecasethatacarbontaxwouldbepassedontotheconsumer.T

8、hetaxraisesc