How might the U.S. government encourage greater research and development? How would R&D benefit the economy?
Answer to relevant QuestionsWhat is the free-rider problem? Why does it exist? What are examples of free riders? Consider pollution, congestion, and other problems in our large cities. People often demand additional roads and parking structures to handle these problems. How might these measures be self-defeating? What are other ...Explain cost-benefit analysis. Would the results of cost-benefit analysis ever be different in the short run than in the long run? Why or why not? What is the relationship between education and earnings? Does this relationship explain all the earnings differences among various groups? Why or why not? Assume that the process of privatization continues successfully in Russia. Would all the problems of Russian industry by solved? What other policies may be necessary?
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