This essay is a budget simulation project on opportunity costs. it invovles alternatives to raising taxes or increasing city spending,
Date Submitted: 05/21/2004 00:41:05
Category: / Business & Economy / Economics
Length: 2 pages (513 words)
Category: / Business & Economy / Economics
Length: 2 pages (513 words)
I was asked to join this committee to help the Mayor solve a problem. The city's budget director has forecast that city tax revenues will be $300,000 less than expected this year, the second year of the city's two-year budget period. Instead of increasing taxes or increase city spending, I have decided to cut back on some of the lesser projects.
This city is having problems with its emergency personnel, or lack there of. Rather than …
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…is extremely evident in these decisions. The completion of these projects is completely dependant on the scarcity of money. The scarcity of space affects the child development center and the scarcity of time affects how long we have to make the necessary changes in this city. Things that will help the mayor get re-elected are the choices of what programs to cut, how to solve the scarcity problems, and how to balance the opportunity costs.
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