Question: 4. For each of the programs listed below, discuss what market failures might be (or are) used as a partial rationale: a. Automobile Safety belt

 4. For each of the programs listed below, discuss what market
failures might be (or are) used as a partial rationale: a. Automobile

4. For each of the programs listed below, discuss what market failures might be (or are) used as a partial rationale: a. Automobile Safety belt requirements b. Regulations on automobile pollution c. National Defense d. Unemployment Compensation e. Medicare f. Medicaid g. Federal Deposit Insurance Corporation h. Federally insured mortgages i. Law requiring lenders to disclose the true rate of interest they are changing on loans j. National Weather Service k. Urban renewal 1. Post office m. Government prohibition on the use of narcotics n. Rent Control. 5. Doctors often charge patients different amounts depending on their judgement concerning the patient's ability to pay. Discuss, in detail, what implications does this have for exchange efficiency? 6. Advocates of small business often argue that they should receive special tax treatment. Assume that the small businesses had to pay only half the social security tax that is imposed on large corporations. What effect would that have on production efficiency

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