Externalities from Education Positive externalities in consumption: the benefits from education spill over to a third party Positive externalities from: More rapid economic growth Better functioning democratic process Better safety and hygiene Greater charitable contribution Better decision making and more efficient functioning of markets
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Wisconsin Charitable Sales Promotions • • • "Charitable sales promotion" means an advertising or sales campaign, conducted by a person who is regularly and primarily engaged in trade or commerce for profit other than in connection with soliciting, which represents that the purchase or use of goods or services offered will benefit, in whole or in part, a charitable organization or charitable purpose. 440.41(3), Wis. Stats. "Commercial coventurer" means a person who is regularly and primarily engaged in trade or commerce for profit other than in connection with soliciting and who conducts a charitable sales promotion. 440.41(4), Wis. Stats. If a commercial coventurer conducts a charitable sales promotion on behalf of a charitable organization that is required to be registered [with the WI DRL], the commercial coventurer shall disclose in each advertisement for the charitable sales promotion the dollar amount, or percentage of price, per unit of goods or services purchased or used that will benefit the charitable organization or charitable purpose. If the actual dollar amount or percentage cannot reasonably be determined on the date of the advertisement, the commercial coventurer shall disclose an estimated dollar amount or percentage. The estimate shall be based upon all of the relevant facts known to the commercial coventurer and to the charitable organization regarding the charitable sales promotion. 440.45, Wis. Stats. Copyright © and Scholz Nonprofit Law 2011. All rights reserved.
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Externalities Externalities or spillover occur when some of the benefits or costs of production are not fully reflected in market demand or supply schedules. Some of the benefits or costs of a good may spill over to a third party. It is also called third party effect. Internalizing the external cost/ benefit will lower the impact of externalities. The optimal output level is MSB = MSC. Positive externalities refer to spillover benefits. It occurs when direct consumption by some individuals impact third parties positively. Public health vaccinations and education are two examples. Because some of the benefits accrue to others, [MSB (Marginal Social Benefit) > MPC (Marginal Private Benefit)], individuals will demand too little for themselves, and resources will be underallocated by the market. Correcting for spillover benefits requires that the government somehow increase demand to increase benefits to socially desirable amounts. 1. Government can increase demand by providing subsidies like food stamps and education grants to subsidize consumers. 2. Government can finance production of goods or services such as public education or public health. 3. Government can increase supply by subsidizing production, such as higher education, immunization programs or public hospitals. Negative externalities impact the third party negatively. An example is pollution, which allows the polluter to enjoy lower production costs because the firm is passing along the cost of pollution damage or clean up to society. Because the firm does not bear the entire cost, [MSC (Marginal Social Cost) > MPC (Marginal Private Cost)], it will overallocate resources to production. Correcting for negative externalities requires that government get producers to internalize these costs. 1. Legislation can limit or prohibit pollution, which means the producers must bear costs of antipollution efforts. 2. Specific taxes on the amounts of pollution can be assessed, which causes the firm to cut back on pollution as well as provide funds for government cleanup.
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The Democratic Parties        Democratic National Committee Senate Democratic caucus, House Democratic Caucus NY Democratic Party NY Assembly Democratic Caucus NY Senate Democratic Caucus Saratoga County Democratic party Saratoga Springs Democratic party
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The Democratic Parties        Democratic National Committee Senate Democratic caucus, House Democratic Caucus NY Democratic Party NY Assembly Democratic Caucus NY Senate Democratic Caucus Saratoga County Democratic party Saratoga Springs Democratic party
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Drawback Examples 1) In the BP oil spill, more than 200 million gallons of crude oil was pumped into the gulf of Mexico for a total of 87 days, making it the biggest oil spill in U.S. history. 16,000 total miles of coastline have been affected including the coasts of Texas, Louisiana, Mississippi, Alabama, and Florida. Oil is still washing up on shores. 2) The Exxon Valdez oil spill resulted in 10.8 million gallons. This oil spill killed over 250,000 animals. This oil spill is still considered one of the world’s worst oil spills in history taking it spot in the top 50. The economic losses were totaled up to 31 million. 3) The Santa Barbara oil spill ended up spilling over 3 million gallons of crude oil. Hundreds of miles of oceans were covered with thick crude oil along with over 35 miles of coastline. This oil spill led to laws and regulations dealing with preserving the environment.
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Biological Spill Response BSL1 Spill     Wear disposable gloves Soak paper towels in disinfectant and place over spill area Place towels in Biohazard bag for disposal Clean spill area with fresh towels soaked in disinfectant. BSL 2 Spill       Alert people in the immediate area of the spill Put on appropriate protective equipment Cover spill with paper towels soaked in absorbent materials Pour a freshly prepared 1:10 bleach solution around the edges of the spill, then into center area Allow a 20 minute contact period Dispose of as in BSL 1 procedure
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Who bears “residual Efficient Precaution andrisk”? Activity Legal Rule Victim Injurer Precaution Precaution Victim Activity Injurer Activity Efficient Zero Efficient Too High Zero Efficient Too High Efficient Simple Negligence Efficient Efficient Efficient Too High Contributory Negligence Efficient Efficient Efficient Too High Comparative Negligence Efficient Efficient Efficient Too High Strict Liability with CN Efficient Efficient Too High Efficient No Liability Strict Liability
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Political Parties & Leaders Alliance Party (Northern Ireland) [David FORD] Conservative Party [David CAMERON] Democratic Unionist Party or DUP (Northern Ireland) [Peter ROBINSON] Green Party of England and Wales or Greens [Natalie BENNETT] Labor Party [Ed MILIBAND] Liberal Democrats (Lib Dems) [Nick CLEGG] Party of Wales (Plaid Cymru) [Leanne WOOD] Respect Party [George GALLOWAY] Scottish National Party or SNP [Nicola STURGEON] Sinn Fein (Northern Ireland) [Gerry ADAMS] Social Democratic and Labor Party or SDLP (Northern Ireland) [Alasdair MCDONNELL] Ulster Unionist Party (Northern Ireland) [Mike NESBITT] UK Independence Party or UKIP [Nigel FARAGE]
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Charitable Contribution Example In 2016, PCC donated a total of $700,000 of cash to the American Red Cross. PCC’s taxable income before the charitable contribution deduction, NOL carryover ($24,000), DRD ($21,000), and DPAD ($465,000) was $6,287,000. What is PCC’s charitable contribution deduction for the year? What is its charitable contribution carryover to next year, if any? McGraw-Hill Education Copyright © 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 5-25
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