What is Jerry Lewis' opportunity cost of doing interviews?

Compare the factors that explain resource allocation in the private and public sectors.

What are the full costs of government spending?

How does government provide a protective function to society? Are there any losses to society for this protection?

Explain government's justification for reducing antitrust activities.

What are externalities? Give examples of positive and negative externalities. How do many economists justify the role for government in the presence of negative externalities? Of positive externalities?

What are some non-coercive/market solutions that would deal with problems like this?

Graphically and verbally explain tax incidence in the labor market.

In case you're interested, here are the most expensive items on eBay.

How does Gwartney define government? What are the other definitions of government discussed in class? Explain the allocative efficiency rationale for government.

How does competitive behavior result in public and private markets?

What is the one-to-one payment-consumption link? Give examples. Explain how weakening it can result in misallocation/waste of goods.

Here is the data from the Northeast-Midwest Institute discussed in class. Look at the third column. According to this, there are now 32 net tax-consuming states. (Alabama ranks sixth.)

From yesterday's New York Times:

How much would you pay for the next Radiohead album, “In Rainbow”? This is not a trick question: Your answer will be as binding as a dictator’s edict.

“IT’S UP TO YOU,” the rock band’s site informs customers pre-ordering the digital download, which will be available Oct. 10. Doubters get a second assurance: “NO REALLY. IT’S UP TO YOU.”

As proof, the order form’s section for price is blank — and it will accept the lowest possible amount for the site: One British penny (about two American cents). After a perfunctory credit-card charge, Radiohead, one of the most popular and innovative rock bands of the past two decades, will gladly hand over a copy of the whole album for less than a dollar, PC World concluded in an article noting that Apple’s iTunes Music Store was left out of this deal.

There is no maximum price, nor any other guidance, setting up what is may be the biggest experiment in digital-era music-industry pricing to date. What are people willing to pay for music? How many will pay full price? How will the average price compare to what a typical record company would likely have charged? Will people pirate it anyway?

Read the full article here.