FINAL Flashcards
What are the core principles of Classical Liberalism
Scope of govt. must be limited
Govt. power must be dispersed
Which one of these is NOT a punchline on Govt. size?
U.S. govt. is the largest among all rich democracies
How many types of market failures are there?
6
Why is it important to standardize “Spending” and “Employment”?
To account for population
Which of the folloeing was NOT presented as an example of rent-seeking?
Road quality
To address the market failure of macroeconomic crises, Keynes (and Keynesians) argue:
Spend more and tax less
What is an externality?
Where social costs diverge from private costs
A public good is non-excludable and rivalrous
False
Which of these statements are true?
- “Some” competition is enough to affect prices
- Efficiency of the market requires “perfect competition” of buyers and sellers
- Oligopolies are smaller than monopolies
- The govt. is not allowed to behave monopolistic
- Efficiency of the market requires “perfect competition” of buyers and sellers
How can the government address imperfect information?
- Collect and publicize accurate warning based on data
- Prohibit dangerous products and work
- Mandate behavior
- All of the above
All of the above
Recession and Depression = Macroeconomic crises
True
How can government program shift behavior in harmful, unanticipated ways?
- Public payouts for police brutality
- Govt. insurance against risk shifts costs to public
- Govt. subsidies reduce incentive to seek private profit
All of the above
Rents are inefficient, raise costs, and reduce productivity
True
Which of these is NOT a premise of science
- Control
- Empiricism
- Research
- Objective
- Research
Government investments do not pay off in Jobs and Growth
True
According to Fligstein, markets are not too expensive to operate
False
Which of the following is an effect of Work- Family Policies?
- Mixed results on Labor Markets
- Cultural Change towards Gender Equality
- Improved Job Satisfaction
- All of the above
All of the above
What percentage of Employees in the U.S. have paid leave?
24%
(Hurley) In the early 1970’s Mayor John Lindsay (NYC) established hundreds of publicly funded child-care centers
True
(Hurley) What happened to those publicly funded child-care centers?
Much federal funding dried up by the late 1970’s causing many to close
(Haspel) A child-care system that relies on the employer- employee relationship is fundamentally flawed
True
(Haspel) During WWll, why did companies begin offering health insurance as a perk?
To get around wage caps
What is the relationship between “variables” ?
Independent (x): Cause
Dependent (y): Effect
According to Collins, both wealthy and poor women face child-care difficulties and inflexible workplaces in the U.S.
True
Why can experiments establish causality?
Randomization ensures treatment and control groups are otherwise identical
According to lecture: what is the cycle of science?
Theory–>Hypothesis–>Data–> Patterns
Many social programs are weak or have no effect
True
According to the reading by Dynarski and lecture, some say the “Gold standard” in policy evaluation is
Randomized Control Trials (RTCs)
Judge policies for Efficiency: Benefits > Costs?
Cost-Benefit analysis
Generous social policies:
Do not discourage work and do not encourage single motherhood
“Present” $ value today> “Discounted” $ value in the future
True
Why do some countries have more generous social policies than other countries?
The power of leftist collective political actors
According to Collins, Child care and Preschool are considered a universal entitlement in Sweden
True
What do taxes do?
1.Encourage good behavior
2.Stimulate economic growth
3.Discourage bad behavior
4.Offset inequality
5.Enhance the legitimacy of the Govt.
All of the above
The U.S. gets higher share from indirect, while other rich democracies get higher share from direct
False
(Reid) Why do Americans complain more about taxes?
American taxes are more direct & The U.S. tax system is so complex and cumbersome
Compared to other rich democracies, the U.S.:
Spends a low amount on social welfare programs
What are the dimensions of taxes?
Capacity
Progressivity
Adequacy
Broad Basing
Simplicity, Convenience, and Predictability
All of the above
All of the above
U.S. taxes are progressive, but the rich get a disproportionate share of income
True
Which one of these is incorrect about ‘less’ progressive taxes
- Sales tax
- Payroll tax
- Property/wealth tax
- Most deduction and Exemptions
Property/wealth taxes
High U.S. poverty and inequality are NOT caused by behavior
True
As places adopt more generous policies, is there an increase in bad behavior/outcomes?
- Some evidence for small effects on early retirement
- Zero or weak effects on employment
- Zero effects on single motherhood or drug use
- All the above
All of the Above
The U.S. has a “dying young” problem
True
The U.S. healthcare system is closest to a:
Bismarck System
Which of the following is true about the U.S. healthcare system compares to other rich democracies?
- It is very expensive
- It has mixed patient outcomes
- It has worse population health outcomes
- It has more uninsured
All of the Above
Health insurance in other countries isn’t as difficult as it is in the U.S.
True
Which of the following is true about the Bismarck Model of healthcare system?
Employer insurance mandated with basic insurance for unemployed and others
According to Collins, Which of the following was promoted in Germany’s Sustainable Family Policy?
1.Investing in early childhood education services
2.Promoting mothers continuous employment
3.Endorsing a dual-family earner model
4.All of the Above
All of the above
Which of the following is NOT true about the Beveridge Model of healthcare system?
All countries have state controlled facilities
Racial gap inequalities are in
Income and Wealth
Fractionalization:
Diverse places have weaker public good and policy
Racism accumulates when?
Across stages of life and From historical racism
How long will it take to lessen the racial inequality gaps?
Passed our timeline
What is racism?
In(Action) + Instituionalization
There has been significant progress between Black and White inequality gaps
False
What are effects of work family policies
- Better job satisfaction
- Cultural change towards gender equality
- Socialize child well-being and development
Can immigration have negative economic impacts in the long run?
No, immigration can positively impact economic growth and wealth creation & No, academic literature and policy does not support that argument
Illegal immigration is somewhat correlated to violent crime rates and is causal according to Nowrasteh
False
According to Nowrasteh, immigrants increase the budget deficit and government debt.
False
What’s systemic racism?
Complex system that perpetuates racial inequalities at institutional levels
