ALLIED ECN150 MODULE 4 HOMEWORK ASSIGNMENT

Welcome to the Module 4 Homework Assignment for ECN 150: Introduction to Microeconomics.This section prepares you to complete this assignment successfully. Please follow these instructions to complete and submit this assignment.You will create a document in either a .doc or .rtf format to record and save your work. If you have never created documents in an .rtf format, please visit the Academic Resource Center and click on Tutorials. You will then see a list of tutorials on the following page. Click on RTF Tutorial.Read the instructions carefully and review your work before you submit your assignment.Include a title page with this assignment. Your title page should follow standard APA formatting. Please view the .allied.edu/Pages/ViewPage.aspx?GroupID=189″>Title Page Example.When you are ready to submit the assignment, click the Start button at the bottom of the page to access the submission page and follow the instructions.Running head: [INSERT
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[INSERT
TITLE HERE]
Student
Name
Allied
American University

Author
Note
This
paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught
by [INSERT INSTRUCTOR’S NAME].

PART
I

Directions:
Please answer each of the following questions in a paragraph for each. Explain your thoughts with theory and
examples where applicable.

1. For
each of the following, determine whether it is a private good, public good,
common resource or a club good.
a. Congested
toll roads
b. Knowledge
c. Fish in
the ocean
d. National
defense
e. Congested
nontoll roads
f. Cable TV
g. The
environment
h. Fire
protection
i. Ice-cream
cones
j. Uncongested
toll roads
k. Clothing
l. Uncongested
nontoll roads

2. The
creation of knowledge is a public good.
Because knowledge is a public good, profit-seeking firms tend to
free-ride on the knowledge created by others and, as a result, devote too few
resources to the creation of knowledge.
How does the U.S. government correct for this apparent market failure?

3. Why do
wild salmon populations face the threat of extinction while goldfish
populations are in no such danger?

4. Identify
the three most important expenditure programs of the federal government. Explain how they differ from the three most
important expenditure programs of state and local governments? Explain why it makes sense for the federal
government to purchase “national defense” rather than state governments.

5. Why are
Pigovian taxes preferred to regulatory policies as methods to remedy negative
externalities?

PART
II:
Midterm Project

Click
.youtube.com/watch?v=5kwA-CwFK5A”>HERE to watch this
seven minute video from Paul Krugman, the author noted in Module 2.

The
video is on income inequality and the middle class. Within the context of the work you have done
up until this module, determine whether or not you concur with his
argument. Write a four page APA format
position paper, with proper citations and references, explaining your opinion. Please utilize LIRN to help you get started
with your search. You may visit the
Academic Resource Center for a guide on how to utilize LIRN successfully. Next, elaborate in two additional pages on
how you see the policies of the last presidency impacting the outcomes
indicated. Be sure to cite sources.

PART III: Reflection Essay

Write a one page paper on what you found most useful in this
module. What was the biggest take-away
lesson you learned and how do you see firms applying the topic to decision
making in a microeconomic methodology?