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In recent years the States of Colorado and Washington have (for all practical purposes) legalized the recreational use of marijuana. Both advocates and opponents claimed that such laws would have observable effects on public revenues and expenditures, public health, criminal behavior, and other social concerns. If you wanted to empirically analyze the impacts of marijuana legalization by comparing developments in Colorado and Washington to other states, which variables would you include in your analysis?
All else the same, if a bank has more rate-sensitive liabilities than assets, then a(n) _____ in interest rates will _____ bank profits.
Show that the following relation holds true sqrt((m - 1)/m) = (QE/Q*) = sqrt((m + 1)/m). What is the underlying reasons that this relation holds? Provide an interpretation of that relation.
To make ends meet your economics instructor runs a telephone service, 1-900-psychihelp. Incoming calls are directed to available 'psychic' who work from their home and utilize their own telephone (not to mention their very special 'psychic' talents.)..
In the 1990s, U.S. wine producers "were encouraged by the changing social role of their product." Specifically, the U.S. consumer had become much more attuned to wine. How did the growing acceptance of wine by consumers affect their indifference curv..
Illustrate what does a contraction Gap imply about the actual rate of unemployment relative to the natural rate
If the marginal product of capital is twice the marginal product of labor and the price of a unit of labor is $4, illustrate what must be the price of a unit of capital.
What are the properties of a general competitive equilibrium? Why is it considered a state of efficiency? What does efficiency, in the sense of a Pareto Optimum, mean? Did he prove the existence of a general competitive equilibrium?
Suppose that you are the economic advisor to a local government that has to deal with a politically embarrassing surplus that was caused by a price floor that the government recently imposed. Your first suggestion is to get rid of the price floor, bu..
State and Local Governments in this country use sales taxes as means of generating revenue. In other countries, a value added tax (VAT) is used to generate Government revenue. Please explain the difference. In your opinion, which tax system is most e..
Discuss a real world example that could, or has already, caused a shift in either the AD (aggregate demand) or SRAS (short run aggregate supply) curves for the US economy, or some other country.
The consumer of a bottle is willing to pay $18 for 3000 bottles but for every $8 decrease they are willing to buy 9000 more bottles. the suppliers will not supply any bottles at a price of $6 per bottle, but are willing to sell 3000 bottles for a uni..
The classical political economists shared, to a large extent, a vision of an emerging social system. Smith referred to this as the “society of perfect liberty” while Marx called it the “capitalist mode of production.” What were the central characteri..
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