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EARMARKS-EFFICIENT PUBLIC GOODS OR INEFFICIENT PUBLIC PORK?
The advocacy organization Citizens A gainst Government Waste (CAGW) identifies earmarks in current legislation that it concludes reflect government waste. Go to and search through the CAGW Web site to find five recent examples of alleged wasteful expenditures. What kinds of additional information would you need before you accepted the group's assertion that each of the five projects is indeed wasteful? Explain how a Federally funded project might be wasteful from a national perspective, yet still be highly beneficial for a specific city or state.
Fill in the blank parentheses - The monetarists maintain that money supply has a significant positive impact on GNP. How would you test this hypothesis?
(1) consumption = $400 billion; (2) investment = $40 billion; (3) government purchases = $90 billion; and (4) net exports = $25 billion. If the full employment level of GDP for this economy is $600 billion.
Suppose a monopolist charges a price of $27 for its product and sells 10 units at that price. At 10 units of production the firm has average fixed cost equal to $10 and average variable cost equal to $12. How much total profit is the firm earning ..
If income elasticity of demand of good X is 0.89, what will happen to equilibrium price if there is an increase in income of consumers. Draw a diagram to support your answer.
Consider Moe. He only buys apples and bananas with his income. Moe says he considers apples and bananas both inferior goods. Using the concept of income elasticity, precisely explain whether he is reasonably describing his preferences.
We wish to design the common-base stage of Fig. 11.93 for a -3-dB bandwidth of 10 GHz.
Consider the market for earmuffs; there are two buyers, John and Joe. John has a demand function given by D(p)=16-3P and Joe has a demand function given by D(p)=30-2p. (both demand functions are implicitly bounded below by 0)
b. Calculate the aggregate social welfare in the competitive market c. Suppose Christmas tree suppliers get together to form a price-setting cartel (monopoly). What will price and quantity in this market be
Pam has chosen her best affordable combination of cookies and comic books. She spends all of her income on 30 cookies at $1 each and 5 comic books at $2 each. The price of a cookie falls to 50 cents and the price of a comic book rises to $5.
You need $100,000 in equity, which you can withdraw from your bank account that is currently paying 2% per year in interest, and a $400,000 loan with a 15% interest rate. What is your expected pretax accounting profit from your proposed agency.
Suppose that the production of crayons (q) is conducted at two locations and uses only labor as an input.The production function in location 1 by Q1=10Lx^0.5 and in location 2 by Q2=50Ly^0.5
If Boeing's dollar aircraft prices increase 20 percent and the yen/dollar exchange rate declines 15 percent, what effective price increase is facing Japan Air Lines for the purchase of a Boeing 747 Would Boeing's margin likely rise or fall if the ..
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