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Alessandra Z

BBC News - Australia plans to ban live betting odds during sports - 3 views

www.bbc.co.uk/...world-asia-pacific-22677753

shared by Alessandra Z on 31 May 13 - No Cached
  • bid to curb problem gambling.
  • "Fans, and particularly young fans, should not be subject to excessive promotion of betting during matches.
  • advertisements
  • ...1 more annotation...
  • revised code
  • Alessandra Z on 31 May 13
     
    Gambling - Demerit Good Advertising ban will lead to a decrease in demand for Gambling Negative externalities will decrease. However, Gambling = inelastic good? Addiction?
senkoffa

Northern Ireland's new five-pence carrier bag tax (BBC News UK) - 3 views

www.bbc.co.uk/...uk-northern-ireland-22047872

northern ireland plastic bag taxes Negative externalities supply

shared by senkoffa on 02 Jun 13 - No Cached
  • Retailers must now charge shoppers at least five pence for each new single-use carrier bag.
  • The department hopes to see an 80% reduction in the use of carrier bags as a result of the levy.
    • senkoffa
      senkoffa on 02 Jun 13
       
      The goal is to reduce the consumption in plastic bag usage in supermarkets and stores
  • "If we have a wonderful, clean and green country in the north of Ireland, let's protect it," he added. "I think most people will see the benefit of this and most people will embrace this new proposal."
    • senkoffa
      senkoffa on 02 Jun 13
       
      Negative Externalities; Plastic bag will lead to pollution and possible damage to wildlife
  • ...3 more annotations...
  • realised that plastic bags and single use bags were a "threat to our environment".
  • "Although there's been a lot of communication about this there seem to be a few consumers out there not quite ready for it yet.
  • "What we're really talking about here is a culture change and for that to happen it's going to take quite a while to embed, all we're asking for is a bit of patience."
James Cohen

Tax on super strength beers and lagers set to increase - 0 views

www.bbc.co.uk/...uk-politics-11879061

Demerit Good

shared by James Cohen on 29 Apr 11 - No Cached
  • James Cohen on 29 Apr 11
     
    Article on rise in tax from negative externalities from the demerit good of beer. Particularly the stronger beers with greater externalities.
Keisuke Ozeki

New drug price order may bring in monopoly - The New Indian Express - 2 views

newindianexpress.com/...article1602951.ece

shared by Keisuke Ozeki on 31 May 13 - No Cached
    • Keisuke Ozeki
      Keisuke Ozeki on 31 May 13
       
      Positive Externality, Merit Good
  • the new price regime would bring in monopoly in the sector.
    • Keisuke Ozeki
      Keisuke Ozeki on 31 May 13
       
      Would it bring in a monopoly? - Evaluation
  • ...5 more annotations...
  • While the earlier drug price control order covered only 74 bulk drugs and formulations
    • Keisuke Ozeki
      Keisuke Ozeki on 31 May 13
       
      Note that maximum price level existed previously, but at a lower level.
  • As per the new price control order, the ceiling price of an essential drug will be the simple average of all brands with a market share of at least one per cent.
    • Keisuke Ozeki
      Keisuke Ozeki on 12 Jun 13
       
      Decrease in demand temporarily as there is an expectation of decrease in price.
  • But, large companies will get a monopoly in pricing as they can manipulate price structure together.
    • Keisuke Ozeki
      Keisuke Ozeki on 12 Jun 13
       
      Creating cartels to increase the price together - Oligopoly, few large firms dominating the market.
  • The experts in the industry point out that the small players in the field will eventually be wiped out when the new price control regime will come into effect.
    • Keisuke Ozeki
      Keisuke Ozeki on 12 Jun 13
       
      Evaluation - Assumption made that the large firms are going to form cartels. If they don't, this will not occur. For the government to prevent this, they can create anti-cartel regulations
senkoffa

Smokers feel the pinch as France raises taxes (France 24 France) - 0 views

www.france24.com/...ent-debt-beer-economy-hollande

smokers taxes france cigarette Demand & Supply externalities market failure

shared by senkoffa on 02 Jun 13 - No Cached
  • French smokers began paying 6.5% to 10% more for tobacco, as an unpopular price rise went into effect
  • It is not clear whether this price hike will finally push French smokers to quit, as France’s 2008 full smoking ban failed to reduce the number of smokers. The number of 18 to 75-years-olds smokers actually increased by 2 points between 2005 and 2012 to near 30% of the population.
  • French anti-tobacco groups said 40 cents per pack was a modest price hike that would not encourage smokers to stub it out in significant numbers.
  • ...2 more annotations...
  • “A slow and incremental increase, like we’ve seen in the previous five years, has very little effect on consumption,”
  • The last significant drop in the number of daily smokers in France - 27% fewer from 2002 to 2004 – was prompted by a significant price rise in 2003.
Shoko Kuroda

U.S. Growth Slows to 2.2%, Report Says - NYTimes.com - 1 views

www.nytimes.com/...s-to-2-2-rate-report-says.html

shared by Shoko Kuroda on 31 May 12 - No Cached
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      It clearly states that the increase in consumer confidence shifted the AD curve to the right and how this lead to the stable US GDP growth
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      can draw a graph describing the growth in GDP by a AD curve shift to the right
  • Business investment, which had been a bright spot, declined in the most recent quarter.
  • ...24 more annotations...
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Business investment is stated as another factor which contributed to the decrease in GDP growth 
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Explanation as to what is GDP, its definition and the major factors which influence GDP. GDP= C (consumption)+G (government spending) +I (investment) +(X-M) (exports- imports)
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Could give an insight to some statistics as to what the GDP growth rates are for few countries around the world 
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Evaluate on the two different perspectives and the extent to both are valid 
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      reducing unemployment is another factor which affects GDP. State and explain how employment increases GDP. When people are employed this increases consumer confidence and results in consumers to be more willing to pay for goods and services and therefore increases consumption which is a big part of GDP. 
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Explain the relationship between the GDP of other countries. Such in this time period, Greece as a country was going the path of becoming bankrupt. The Euro-crisis contracted the economy of many countries. When they have a smaller economy, they have less amount of exports and therefore this could have made the difference between exports and imports significant and influenced GDP. 
  • Government spending also fell
  • particularly large drop in military outlays.
  • Many economists pointed out that consumer spending, mostly on cars and other large items, seemed to have come at a cost. Consumer savings declined.
  • decline in business investment.
  • Businesses spent more on equipment and software but much less on infrastructure.
  • decline in investment in
  • construction related to mining, oil and gas
  • series of external shocks, like a spike in gas prices (this year’s was less severe and is already subsiding) and the Ja
  • panese earthquake.
  • where many countries are already in recession and where this week Britain announced that it had entered the dreaded “double dip.”
  • slowing of China’s breakneck
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Decline in business investment, infrastructures invest more money therefore bring a bigger influence on growth of GDP whereas equipment and software have little affect since it is not as expensive as building roads and buildings. 
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Investment on construction of mining, oil and gas is similar to business investment on infrastructure since they acquire a lot of money whereas spendings on factories and office buildings are not as expensive as construction related spending. 
  • Shipments of durable goods increased last month, but new orders showed the steepest drop since January 2009.
  • unemployment benefits have risen.
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Unemployment benefits have risen, indicating that since there is a population who dont have a job, the government has to afford them unemployment benefits which reduces GDP. 
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Natural hazards such as the Earthquake and Tsunami which hit Fukushima on March 11, reduced the exports of Japanese goods to foreign countries due to the news of radiation. Because of a decrease in demand for Japanese goods, this could have reduced imports for America and a smaller difference between exports and imports of goods. 
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      Because China has such a global impact on the world's economy, the slowing growth of the Chinese economy could reduce consumption of goods, considering the fact that the prices of Chinese goods could increase. 
Shoko Kuroda

U.S. Growth Slows to 2.2%, Report Says - NYTimes.com - 0 views

www.nytimes.com/...s-to-2-2-rate-report-says.html

shared by Shoko Kuroda on 31 May 12 - No Cached
    • Shoko Kuroda
      Shoko Kuroda on 31 May 12
       
      GDP, Growth Domestic product is in the section of macro economics
  • The economic recovery slowed more than expected early this year,
  • an annual rate of 2.2 percent in the first quarter, down from 3 percent at the end of last year,
  • ...18 more annotations...
  • It was the first deceleration in a year, but it was not nearly as severe as other setbacks in the last couple of years.
  • Mitt Romney
  • insisting that the president has held back the recovery and intends to do further damage.
  • White House focused on
  • solid growth in consumer spending and a surge in residential building.
  • the private sector is continuing to heal from the financial crisis,” said Alan Krueger, chairman of the president’s Council of Economic Advisers.
  • subsidize the employment of teachers and first responders to emergencies.
  • Economists initially predicted a much weaker showing in the latest quarter, partly because of a large accumulation of inventories in the fall and winter that needed to be worked off. But in the last few weeks, expectations rose on strong jobs reports and rising consumer confidence.
  • Consumer spending did turn out to be the major strength
  • Business investment, which had been a bright spot, declined in the most recent quarter.
  • Government spending also fell more than anticipated,
  • thanks in part to a particularly large drop in military outlays.
  • Consumer savings declined.
  • decline in business investment.
  • Businesses spent more on equipment and software but much less on infrastructure.
  • in construction related to mining, oil and gas, while manufacturers actually increased their spending on factories and office buildings.
  • another significant slowdown, saying that last year’s hiccup was the result of a series of external shocks, like a spike in gas prices (this year’s was less severe and is already subsiding) and the Japanese earthquake.
  • Stagnation in Europe and a slowing of China’s breakneck expansion have weakened global demand even as corporate profits have continued to outpace expectations.
Cynthia Huang

Are you ready for the $60 light bulb? - 0 views

www.mercurynews.com/...are-you-ready-60-light-bulb

substitute goods microeconomics subsidizing san jose mercury news

shared by Cynthia Huang on 03 Jun 12 - No Cached
  • Cynthia Huang on 03 Jun 12
     
    I can't comment on the actual article, so here are my points: -this shows a case of substitute goods that happen to be merit goods. the manufacturer, Philips, has created an eco-friendly lightbulb that will last about 20 years. however, it also has other eco-friendly light bulbs that cost a fraction of the current set price. -the price is currently quite expensive, but the manufacturer is currently subsidizing the product for customers. -a diagram of positive consumption externalities can be shown, using the prices mentioned in the article.
Faizal Zubir

China's Chongqing Is First City to Offer Car Subsidy - 1 views

www.businessweek.com/...irst-city-to-offer-car-subsidy

Subsidies Externalities

shared by Faizal Zubir on 06 Jun 12 - No Cached
  • Faizal Zubir on 06 Jun 12
     
    IA 2: Macro
Yayoi Tanikawa

Japan Govt to expand routine vaccinations | The Jakarta Post - 4 views

www.thejakartapost.com/...pand-routine-vaccinations.html

shared by Yayoi Tanikawa on 05 Jun 12 - No Cached
  • Japan Govt to expand routine vaccinations
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      merit good that is under consumed
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      positive consumption externality
  • The health ministry has decided to add three immunizations--against cervical cancer and two infections that can cause bacterial meningitis
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      MPB moves towards MSB
  • subsidizing fees for the three vaccinations as an emergency measure since fiscal 2010
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      making vaccinations more accessible
  • ...6 more annotations...
  • subsidies are set to be terminated at the end of this fiscal year, the Health, Labor and Welfare Ministry plans to make the subsidies permanent
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      with subsidies, more quantity at a lower price
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      encourages people to get vaccinations
  • among children
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      so they can live longer, provide more to society
  • termination of subsidies for those immunizations was seen as undesirable in light of the fact that an increasing number of young people have been diagnosed with those conditions
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      by preventing the diseases, people won't have to spend more money on treating the diseases when they get older
  • routine vaccination program as soon as it can secure funding for them.
    • Yayoi Tanikawa
      Yayoi Tanikawa on 05 Jun 12
       
      under produced
  • Making all seven immunizations part of the routine vaccination program would cost 200 billion yen per year
  • "It's strange to treat them differently just for budget reasons when they are all important vaccinations
Yihan Li

Republican Lawmaker Considering a Tobacco Tax Increase Bill | StateImpact Idaho - 0 views

stateimpact.npr.org/...ng-a-tobacco-tax-increase-bill

shared by Yihan Li on 11 Jun 12 - No Cached
  • Tobacco Tax Increase
    • Yihan Li
      Yihan Li on 11 Jun 12
       
      Taxation on demerit good 
  • would tack on an additional $1.25 to Idaho’s tobacco tax
    • Yihan Li
      Yihan Li on 11 Jun 12
       
      Massive increase on the tax of tobacco 
  • Supporters estimate the $1.25 per pack increase could raise $50 million for the state as well as encourage people to quit or not pick up the habit
  • ...1 more annotation...
  • Medicaid program at least $83 million each year and cost taxpayers as much as $319 million in other health-related costs annually.
    • Yihan Li
      Yihan Li on 11 Jun 12
       
      negative consumption externalities  (benefit-cost curve) 
  • Yihan Li on 11 Jun 12
     
    Tobacco Tax
Sean Dolan

Renault backs electric cars with free chargers | Reuters - 0 views

www.reuters.com/...chargers-idUSL5E8G94V820120612

shared by Sean Dolan on 12 Jun 12 - No Cached
  • electric car
    • Sean Dolan
      Sean Dolan on 12 Jun 12
       
      positive consumption externalities
  • o claim 10
    • Sean Dolan
      Sean Dolan on 12 Jun 12
       
      demand increase
  • subsidy
    • Sean Dolan
      Sean Dolan on 12 Jun 12
       
      subsidized
  • ...2 more annotations...
  • with volumes dropping sharply after filling advance
    • Sean Dolan
      Sean Dolan on 12 Jun 12
       
      decrease in demand
  • about plug-in hybrids that
    • Sean Dolan
      Sean Dolan on 12 Jun 12
       
      substitute goods
Derek Schwung

US airlines boost domestic long-haul fares | Reuters - 0 views

www.reuters.com/...es-fares-idUSLNE80C01M20120113

shared by Derek Schwung on 17 Jun 12 - No Cached
    • Derek Schwung
      Derek Schwung on 17 Jun 12
       
      Increase in prices in overseas flights 
  • United Continental Holdings (UAL.N), AMR Corp's American Airlines (AAMRQ.PK), Southwest Airlines (LUV.N) and US Airways (LCC.N) all said they have matched it
    • Derek Schwung
      Derek Schwung on 17 Jun 12
       
      Many firms in the market are 
  • ...7 more annotations...
  • higher oil prices raise costs and threaten profitability
    • Derek Schwung
      Derek Schwung on 17 Jun 12
       
      Increase in FoP
    • Derek Schwung
      Derek Schwung on 17 Jun 12
       
      Inward shift in supply 
  • Oil prices initially rose on Thursday as the euro rallied and a Nigerian union threatened to shut down output, but they later eased on a report that the European Union could delay a ban on Iranian exports by six months. U.S. February crude oil was down 1.6 percent at $99.26 a barrel after earlier reaching above $102.
  • European law requiring airlines to pay for aircraft emissions.
    • Derek Schwung
      Derek Schwung on 17 Jun 12
       
      Negative Production Externality - tax Market failure 
  • d a $3 surcharge each way unveiled by Delta on fares purchased in the United States for flights between the United States and Europe
    • Derek Schwung
      Derek Schwung on 17 Jun 12
       
      Increase in price, tax put on consumer 
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