Problem
1. What arguments can you give for supporting a socialist organization of a family and a market-based organization of the economy?
2. Economists Edward Lazear and Robert Michael calculated that the average family spends two and a half times as much on each adult as they do on each child.
a. Does this mean that children are deprived and that the distribution is unfair?
b. Do you think these percentages change with family income? If so, how?
c. Do you think that the allocation would be different in a family in a command economy than in a capitalist economy? Why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.