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The government is considering a policy to reduce air pollution by restricting the use of “dirty” fuels by factories. In deciding whether to implement the policy, how, if at all, will the likely effects of this policy impact real GDP?
a)The government purchase component of real GDP will increase due to the implementation of pollution-reducing improvements, and the consumption component will also increase due to cleaner air.
b)The cost of implementing pollution-reducing improvements will decrease real GDP due to the closing of some “dirty” factories, while the value of cleaner air will have no direct impact on real GDP.
c)The implementation of pollution-reducing improvements will increase real GDP due to increased investment, while the value of cleaner air will also have a definite positive impact on real GDP
d)The value of cleaner air will have a positive impact on real GDP; however, real GDP will be reduced due to increased investment from all the nation’s factories.
Suppose someone stated that the Heckscher-Ohlin model is best-suited for explaining trade between developed countries and developing countries, while newer theories such as those of Linder and Krugman are best-suited for explaining trade among develo..
The GDP is $40 billion below its potential value. It is expected that next-period GDP will be $20 billion below potential and that two periods from now it will be back at its potential level. The multiplier for government spending is 2. What is the b..
would there be any automatic Stabilizers in government budget. Would re be any distinction between full-employment deficits and actual beget deficit.
A computer-controlled milling machine will cost Ajax Manufacturing $65,000 to purchase plus $4700 to install. If the machine would have a salvage value of $6600 at EOY 20, how much could Ajax charge annually to depreciation of this equipment? Ajax us..
The two firms have the same demand curve P=100-4Q, Marginal cost of Firm 1 is 5 and for firm 2 is 10.
How is it possible for many price elasticities to be associated with a single demand curve? Rank the following in order of increasing (from negative to positive) cross-price elasticity of demand with coffee. Explain your reasoning please: Bleach Tea ..
The "interest-only" mortgage typically converts later to a:
Suppose that Omar’s marginal utility for cups of coffee is constant at 4.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second he eats, 8 for the..
Determine two (2) likely factors that might have caused the change. Predict the primary manner in which this change would likely impact business operations in the new market environment.
Suppose you are in charge of setting the price for commercial advertisements shown during Enemies, a top network television show. There is a 60-minute slot for the show. However, the running time for the show itself is only 30 minutes. Suppose that t..
It seems to me as if a representative agent is defined as a situation in which a competitive equilibrium can be reached by maximizing the utility of an object that can be interpreted as a "representative agent" whereas "aggregation" refers to a relat..
Does the factor proportions theory shed any light on Mexican migration to the Unites States? How does it account for US direct investment in Canada?
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