政府的角色

In the United States, as in some other developed countries, one who builds a highrise blocking the view of others may be subject to public hearings, and through these hearings the right to build the highrise may be denied. In Hong Kong, however, so long as the building code is met, every builder has the right to block the view of the residents nearby. Which of the following is true?

In a competitive labour market, two industries require the same type of labour. Suppose the marginal productivity of labour in Industry A is higher than that in Industry B. In the absence of transaction costs, which of the following statements is correct?

Given that people have well-defined rights to enjoy fresh air, which of the following justifies the government prohibiting smoking in public areas?

The construction of a new cross harbour tunnel in Western District has caused the value of nearby properties to rise. Therefore, to increase efficiency,

If all property rights are well defined and transaction costs are zero,

A divergence between private and social costs results from

In its production process, a chemical factory upstream pollutes a river nearby without considering the damages inflicted upon a fish farmer downstream. Under zero cost of transaction,

The more human capital an individual worker brings to the labour market,

An employer observes that when one employee is sick (and does not come to work), the value of output falls by $500 per day. If two workers are sick, the value of output falls by $1 200 and when three workers are sick the value of output falls by $2 100. Suppose the wage rate is $750 per man-day, the employer should

Which of the following implies a divergence between private and social costs?