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Evaluate the following policies in terms of their effect on "the greatest happiness the greatest number." (Think about market failures and failures of markets: how do the policies suggested correct problems with the functioning of the market and the distribution of income it produces?) Is there a tradeoff between economic efficiency and equality/happiness in each situation?
either two to three paragraphs or a analytical (non-verbal) model and a paragraph or two explaining it.
a) Free health care for all.
b) Replace the income tax with a tax on carbon.
c) Raise the tax on luxury goods to discourage conspicuous consumption
a) Should the Federal Reserve Board focus exclusively on the problem of inflation b) What other goals are appropriate for Federal Reserve policy c) What is the appropriate goal for the inflation rate d) How effective is Federal Reserve monetary polic..
You have been Employed through a private consortium of South African orange growers to predict the impact on the price and output of oranges under the following situation.
the European central bank euro area statistic for the most recent last-year period since the outburst of the global financial crisis. have their growth rates been similar what implications does this have for the conduct of monetary policy
Suppose your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs;
The consumption taxes the government collects in a given period are not restricted to be levied on consumption from only in that period.
If a nation's real GDP has increased faster that its population over a period of time, then we would conclude that: real GDP per capita increased faster than real GDP population grew slower than real GDP per capita real GDP per capita.
Illustrate what rate of inflation characterized this economy during 1994.
Describe a sequential game facing your firm, and represent it in extensive or tree form. Compute and analyze the equilibrium of the game.
Find out the profit maximizing level of price and output. Discuss an alternative regulatory regime, and discuss the merits of both.
Describe the position of India with respect to the comparative advantage it holds in gems and jewellery, software services, and petroleum.
The Textile Workers of America is planning to strike for higher wages. Management predicts that, if the strike is successful, the cost of labor will increase to $100 per day. If the strike is successful, how would this affect the decision in quest..
Explain how much would she need to make in revenues to earn positive accounting profits. If a firm makes positive economic profit it means that the firm earns normal profit.
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