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Analyse the statements below and affirm it as true or not.
1. When a group of neighbours ask a householder to tidy his front garden because they keep their own gardens tidy and attractive, they are attempting to use moral codes and social sanctions to internalize the externality associated with an untidy garden in a residential area.
2. For any given demand curve for pollution, a regulator can achieve the same level of pollution with either a Pigovian tax or by allocating tradable pollution permits.
3. If you values smoking in a restaurant at €10 and your friend values clean air while she eats at €15, according to the Coase theorem, you will not smoke in the restaurant only if your friend owns the right to clean air.
The government uses policies like student loans and free trade to influence the economy's growth rate. In 600-1200 words, identify at least four policies from the textbook that the government has created to impact economic growth and productivity.
Explain the difference between a short-run production function. Cite one example of this difference in a business situation Explain the relationship between a firm's short-run production function and its short-run cost function. Focus on the margin..
A government is recently operating with an annual budget deficit of $40 billion. The government has determined that;
A: what are four common phases of business cycle B: explain the causes of recent recession and when it started and when it technically ended. Finally why the recent recession was called the worst recession after the great depression.
What did the Federal Reserve do during the financial crisis of 2008 and 2009 How did the recent financial crisis affect the financial services industry What are some of the major provisions of the Wall Street Reform and Consumer Protection Act
Again when the income rises by 5 percent, the units consumed of the commodity increase from 100 to 110. What is the income elasticity of demand for the good?
Price Discrimination (PD) occurs "when a firm charges different prices to different customers for the same good". Explain under what conditions PD is possible and profitable?
How did Greece end up in their debt crisis they are in today? Additionally, what steps is the Greek government taking to manage their debt? Even though they have received bailouts and emergency loans, why are they still in debt? Lastly, why don't oth..
starting salaries of economics majors have a mean of 47000year with a standard deviation of 8000. what is the
In Japan potential GDP is 600 trillion yen and table demonstrate aggregate demand and short run aggregate supply schedules.
1. Jack Sprat can eat no fat, his wife can eat no lean." Construct an Edgeworth box diagram for this pair (assuming fixed quantities of "fat" and "lean") and indicate the contract curve.
Provide each of the subsiquent price elasticities, determine whether marginal revenue is positive, negative, or zero.
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