Discuss the arguments for and against state lotteries
What will be an ideal response?
State lotteries are popular with supporters because they provide a voluntary means for governments to obtain revenue that is then used to support desired government goods and services. To the extent that lotteries also compete with illegal gambling, they are thought to help curtail organized crime.
Yet lotteries are not without criticism. The argument against lotteries include moral ones that states should not sponsor gambling and give the message that luck determines people’s fate. There also are economic criticisms. Lotteries encourage compulsive gambling and this activity will hurt families. Lotteries also are regressive in the sense that low-income individuals are more likely than high income individuals to participate in them. Lotteries also are state-run monopolies that overprice their product by limiting the payout and stifle any private competition.
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Refer to the table below. If the discount rate is 5 percent and the cost of the investment is $42,000, what is the net present value of the investment?
The above table shows the future operating profits from an investment. The future operating profits are earned at the end of each of the respective years.
A) $44,854.77
B) $2,854.77
C) $3,599.22
D) $42,464.22
Aggregation is important because it allows many individual variables to be combined into one larger whole
a. True b. False
How does the labor force participation rate of women compare to that of men in the United States?
A. The labor force participation rates between the two groups is about the same. B. Women participate less than men when young (20-34 years old) but at the same rate as men in later years (35-54 years old). C. Men participate less than women at all ages. D. Men participate less than women when young (20-34 years old) but at the same rate as women in later years (35-54 years old). E. Women participate less than men at all ages.
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.