This topic contains a solution. Click here to go to the answer

Author Question: Expenditures on education equal about _____ of state and local government financial outlays. a. ... (Read 137 times)

Capo

  • Hero Member
  • *****
  • Posts: 545
Expenditures on education equal about _____ of state and local government financial outlays.
 
  a. one quarter
  b. one third
  c. one half
   d. two thirds

Question 2

Describe the holdout problem with emphasis on how it might lead to resource being allocated inefficiently. Give three private ways to possibly overcome the holdout problem.
 
  What will be an ideal response?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Athena23

  • Sr. Member
  • ****
  • Posts: 305
Answer to Question 1

b

Answer to Question 2

The holdout problem arises when unanimous agreement is required for a collective action. The holdout problem can prevent Pareto superior moves from occurring because the holdout prevents actions that would make everyone better off in an attempt to improve their personal take. One way that the holdout problem can be overcome in certain situations is through contingent contracts where certain contracts vest only if everyone agrees. A second way is to hide ones intention to minimize the holdout problem. For example, the Disney corporation successfully disguised what it was doing when it purchased land on which to build Disneyworld. A final way to overcome the holdout problem is to substitute to a similar project not suffering from the holdout problem, such as building a shopping center on farmland on an urban fringe instead of downtown.




Capo

  • Member
  • Posts: 545
Reply 2 on: Jul 1, 2018
Wow, this really help


AmberC1996

  • Member
  • Posts: 317
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

Medication errors are three times higher among children and infants than with adults.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

For a complete list of videos, visit our video library