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In addition to prohibiting development, reserving land for open space converts a private good (use of the land for commercial development purposes) into a public good (open access to the land for general public enjoyment). One way a society can reserve land for open space for the benefit of all is through zoning - prohibiting development in certain areas. As an alternative, a government may establish a budget category, funded by tax collections, for purchasing lands for public use. Is one approach more likely than the other to lead to a social optimum (i.e., be most consistent with consumer preferences for public and private goods)? What factors or conditions might favor one approach over another?
Explain whether each of the following types of technological changes in health care is likely to be cost increasing.
Let u(x,y) = x1/3y2/3 and let I = 100, Px = Py = 1. Write the FOC for the consumer's UMP and compute the consumer's demand function. Let U(x,y)=5x+4y and let I denote income and Px,Py the prices of the goods. Compute the demand functions for good..
is stability in the general level of prices through time important? why or why not? should price stability be the goal
Each of the 5 questions needs at least a one paragraph answer and a citation.1. Why are many of the large industrialized nations (e.g., U.S., U.K., France, & Japan) running continuingly large federal deficits and what must be done to avoid default?
The fiscal stimulus programs adopted by many countries in response to the financial crisis helped offset the decline in aggregate demand and reduce the size of the recession.
What is it about the Toyota Production System that makes it so difficult to duplicate the results of firms such as Toyota? Support your claims with at least one new resource in addition to the assigned readings.
explain why the optimal level of pollution is not zero. according to an epa study the health hazards of superfund sites
select a country that has universal health care system provided by that country and provide some background information
even before the metals and manufacturing companies described earlier u.s. railroads in the nineteenth century were
Determine which moral philosophy is most applicable to an understanding of the banking industry meltdown. Explain your rationale.
National income and product data are generally revised. What effects would the following revisions have on consumption,investment, government purchases, net exports and GDP
Give a brief summary of economic costs. In the short-run, why might a firm still operate even when there is a loss.
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