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Toward Effective Risk Regulations (1993) examines goverment's role in controlling and managing the health risks society faces from exposure to environmental pollution. One major problem examined in
EZ Sharp industries Inc manufactures the Keen Edge line of diamond abrasive cutlery sharpeners for home use. Dia Sharp holds a patent on ist unique design and can earn substantial economic profit if
what is a balanced budget rule for the federal government what are the economic consequences of it (EXPLAIN) Should a candidate for a national office support such a rule
Next assume that the price of a substitute resource increases, other things constant. What happens to demand for labor What are the new equilibrium wage rate and employment level What happens to eco
Two countries alike in all other respects differ markedly in their provision of social insurance. One country provides old-age retirement pensions, unemployment insurance, and catastrophic illness i
How does using interest rates as operating or intermediate targets lead to procyclical (reinforcing the cycle) monetary policy How could policymakers use interest rates in the policy process and avo
Suppose that the income elasticity of demand for land is +0.75. The unit commuting cost (cost per mile) is the sum of monetary cost (30 cents per mile) and time cost (opportunity cost). Suppose that
A growing economy means that the economy is producing more and more "stuff", either because it has more resources (workers), or uses those resources more productively (smarter, better workers, worki
How does a minimum wage imposed under monopsony differ in results as compared with a minimum wage imposed under perfect competition (assuming the minimum wage is above the market-determined wage)
The marginal propensity to consume and the marginal income tax rate are 0.9 and 1/3, respectively. The budget deficit is observed to increase by 90. a. What change in investment would account for th
Consider a two-country model. Assume that the Current Account Balance is initially positive for one country. Assume that a permanent positive shock to production affects the country which initially
Discuss perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings. Additionally, how does the proliferation of global trade and
Because government-operated firms do not have to make a profit, they can usually produce at a lower cost and charge a lower price than privately owned enterprises." Evaluate this view.
If the price per visit is given to be $25, at what level of visits will the maximum profit position be?What are the profits at this level?
Can democracy survive if a majority of the citizenry pay little or nothing in taxes while benefiting directly from a higher level of government spending? Why or why not? Discuss.
What must and entrepreneur do to earn a profit? (2) How do the actions of firms earning profits influence the value of resources? (3) What happens to the value of reseources when losses are present?
What is the appropriate balance between private and public (i.e., government) activity Think of a case where the government has intervened (or it was suggested that government intervene) in a previ
Assume you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It curr
Larry, curly, and Moe run the only saloon in the town. Larry want to sell as many as possible without losing money. curly wants the saloon to bring in as much revenue as possible. Moe wants to make
Suppose that there are two stores, A and B, that sell homogenous good. Suppose that the two stores are located on the real line: store A is at 0, while store B is at 1. Derive the demand functions f
Two important policy goals of the government and the Fed are to keep unemployment and inflation low, while at the same time making sure that GDP is increasing at an average of 3% per year. It is impor
Based on the analysis of the data, share your thoughts on what caused the financial crisis and whether the United States is going in the right or wrong direction with its current policies.
Assume that the Current Account Balance is initially positive for one country. Assume that a permanent positive shock to production affects the country which initially had a positive current account
Suppose that the return on domestic bonds held by foreigners in country i are subsidized at the rate s and that returns on domestic bonds held by residents of country j are taxed at the rate. Write
Suppose that a car dealership wishes to see if efficiency wages will help improve its salespeople's productivity. Currently, each salesperson sells an average of one car per day while being paid $20