Under the Reagan administration, the Interior Department greatly increased the rate at which it leased off shore
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Under the Reagan administration, the Interior Department greatly increased the rate at which it leased off shore oil and gas. This had the effect of significantly reducing the prices that the government received for these leases. (Although the leases are sold by auction, there was only a single bidder for more than two-thirds of the tracts.) Discuss the distributional and efficiency consequences of this policy.
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Economics Of The Public Sector
ISBN: 9780393925227
4th Edition
Authors: Joseph E. Stiglitz, Jay K. Rosengard
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