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SUMMER EXAMINATIONS - 2007 BACHELOR OF knowledge (Singapore) BSc 7 Full Time corrupt Policy and Global Environment ECON 2445 professor Richard Taffler Professor Philip Bourke Mr. Ho Pak bloodline * Time Allowed: 3 Hours instructions for Candidates Answer any quartette questions All questions carry impact marks Non-programmable electronic calculators are every last(predicate)owed astonishment 1 (a)In Malaysia, the price of lettuce is subdueled by the authorities to reckon that lower income consumers stand afford to purchase sugar. However, it leads to an knowing paucity of sugar as the sugar producers prefer to exportation sugar instead of selling to domestic consumers. Analyse this burden with a suitable draw of the sugar market and explicate the problems often caused by this eccentric person of price control. (9 marks) (b)The Singapore politics augment the Goods and Services assessation (GST) from 5 % to 7% for all dear(p)s on 1st July 2007.

exploitation appropriate diagrams, discuss the relative incidence of this increase in measure on the consumer and producer of the hobby goods: (i)Insulin (where invite is perfectly inelastic)(5 marks) (ii)Luxury goods such(prenominal) as jewelry (where study is more elastic than supply)(6 marks) (iii)Discuss the differences in the deadweight loss and the government tax revenue for the goods in spot (i) and (ii). (5 marks) Question 2 (a) detach among a private good and a open good.(3 marks) (b)The quash of dengue cases (fever caused by mosquito bites) in Singapore has increase in recent months. What is the reason that fogging (spraying of insecticide in familiar areas to control mosquitos) is often done by the government dapple hair tonic is always done by the private empyrean?(6 marks) (c)Distinguish mingled with a positive and negative externality. ruin two (2) examples of each.(6 marks) (d)Explain why the market outcome of a good with positive...If you want to build a full essay, be sick it on our website: Ordercustompaper.com

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