Create a market for the drugs economists can provide

Assignment Help Microeconomics
Reference no: EM131269892

Assignment: The Living Wage

Should drugs be legalized?

Legalization of drugs such as marijuana, cocaine and heroin often provokes intense disagreement among citizens as well as policymakers. Because legalization would create a market for these drugs, economists can provide helpful commentary based on consumer choice and demand.

To read about the current debate visit:

https://www.drugpolicy.org/news/082307media.cfm
https://www.druglibrary.org/schaffer/debate/debate.htm

Support for legalization does not divide easily along traditional political viewpoints. For a conservative group's argument see the Cato Institute at: https://www.cato.org/testimony/ct-dbz061699.html

The American Civil Liberties Union (ACLU) discusses the issue at: https://www.aclu.org/criminal-law-reform

By contrast, the US Department of Justice argues against legalization at: https://www.dea.gov/pr/multimedia-library/publications/speaking_out.pdf

For additional discussion by mainstream economists see: Brookings Institution (a private research group)

https://www.brookings.edu/research/articles/1996/03/spring-crime-stares

National Bureau of Economic Research, "Smoking, Drinking, and Drug Use Respond to Price Changes"

https://www.nber.org/digest/may05/w10948.html

Your final product will be a paper that:

- Addresses the question above in total.
- Is APA fortatted.
- The body is to be 2 pages minimum.

The requirements for your assignment are:

1. Answer this question fully.
2. Define the overall subject for the question.
3. Cite at least three resources from this week's materials.

Reference no: EM131269892

Questions Cloud

Identify the candidate keys of each relation : What kind of binary relationship exists between the STADIUM relation and the TEAM relation? Could the data from the two relations be combined into one without introducing data redundancy? If so, how?
Discuss the underlying assumptions and implications : Discuss the purpose and philosophical approach. Discuss the underlying assumptions and implications. If referring to a research article, present the methodology, where relevant, and discuss any practical issues or reasons to question the author's ..
Control discretion and investigate police misconduct : With respect to police decision-making, what is discretion? What makes it good or bad? Can it be both? In which types of situations do police officers exercise the most discretion? At which level do officers have the most discretion? After reading th..
Compute the interest earned in problem : Compute the interest earned in Problem.- Find the future value, at 2.95% interest, compounded continuously for 6 years, of the continuous income stream with rate of flow f(t) = 2,000e0.06t.
Create a market for the drugs economists can provide : Because legalization would create a market for these drugs, economists can provide helpful commentary based on consumer choice and demand.
Employee concern regarding unsafe execise equipment : As assistant to your Quality Assurance Team at World Wide Insurance, you are in charge of scheduling meetings. The chair, Ruben Flores, has asked you to call a meeting for Monday afternoon, April 24, 20--. He wants the group to discuss a recent emplo..
Compare the future values of given investments : Which investment is the better choice over the next 10 years?- Compare the future values of these investments to determine which is the better choice over the next 5 years.
Aptain stubing of the pacific princess seeks to maximize : Captain Stubing of The Pacific Princess seeks to maximize the return for their scheduled 14 day tour of Europe and has a number of options available to him. He can ply his guests with alcohol, upsell them on fancier restaurant fare or include more ex..
Determine how you will monitor the risks : For this assignment, you will determine how you will monitor the risks that you have projected, as well as the unknown risks that occur during the course of the project. You will also formulate a control plan once a risk has been identified during..

Reviews

Write a Review

Microeconomics Questions & Answers

  A two-year-old child is eating raisins one at a time from a

a two-year-old child is eating raisins one at a time from a large box. even though the child doesnt understand formal

  The key concepts in economics

Apply one (1) of the following economic concepts (supply, demand, market structures, elasticity, costs of production, GDP, Unemployment, inflation, aggregate demand, and aggregate supply) to the key points that you highlighted in Question 1. Explain ..

  List three of the highest paying occupations

List three of the highest paying occupations. Why do you think they are high paying jobs? Does a strike for a raise of 5 cents/hour make any sense? What kind of long-term benefit might a union gain from such a strike? If poor people don't want to wor..

  Economic capital calculations

What determines the confidence level used by a financial institution in its economic capital calculations?

  What short-term interest rate is the article referring to

An article in the Wall Street Journal notes that before the financial crisis of 2007-2009, the Fed "managed just one short-term interest rate and expected that to be enough to meet its goals for inflation and unemployment." What short-term intere..

  Diagram containing features of the consumer choice problem

The only goods that Angela consumes are wine (X) and chocolate (Y). On Tuesday the price of wine goes up, though at the same time, Angela's income increases by just enough so that she is equally happy (in utility terms) as she was on Monday.

  Find profits grow at an annual rat

The head of the accounting department at a major software manufacturer has asked you to put together a pro forma statement of the company's value under several possible growth scenarios and the assumption that the company's many divisions will rem..

  The cost of transporting goods and the price of obtaining

the cost of transporting goods and the price of obtaining information has decreased substantially over the past 100

  Calculate the profit for that level of output

Calculate the profit for that level of output, as well as the level of output immediately above and below it and what level of output will this firm operate at in order to maximize its revenues or minimize its losses?

  How can monetary policy ease the pain of austerity

Unemployment often takes a long time to decrease even after the economy has exited a recession, though it eventually will. There is often a fear, however, that this time the unemployment rate will stay constantly high. Discuss the two sources of u..

  Budget line with respect to his labor-leisure choice

Normal 0 false false false EN-US X-NONE X-NONE Suppose that John could wor..

  Discuss the difference between the cpi measure of inflation

Discuss the difference between the CPI measure of inflation as collected by the Bureau of Labor Statistics and the Billion Price Project (BPP), which is developed by researchers at MIT.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd