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For the sake of argument (and this assignment) assume that global warming is a fact, caused by human activity, and that it can be fixed by taxing producers for the amount of carbon they release. The problem is that this tax would greatly increase costs for everyone.
How would this situation be described in terms of Positive economics?
How would this situation be described in terms of Normative economics?
Which of these do you think is the correct way to describe this situation and why?
What are the problems created by going directly to the manager with questions concerning data dictionary entries? Use a paragraph to list the problems you can see with your team member's approach.
What happens in a decreasing-cost industry when some firms leave and the industry's output contracts?
According to economists, what is (are) the true cost(s) of a budget deficit? Does the "opening up" of an economy change the type of costs a deficit produces? Use an investment/savings diagram in your answer.
Compared with lower inflation rates, a HIGHER inflation rate will (increase/decrees) the after-tax real interest rate when the government taxes NOMIAL interest income. This tends to (encourage/discourage) saving, thereby (increasing/decreasing) the q..
If the required reserve ratio were .25, then a $8 million increase in H ("high-powered money") from the Fed could lead to an increase in the money supply by as much as $____ million.
One morning, you are the first caller to identify a song contest hosted by a local radio station. As a prize, you won a free concert ticket worth $50. Unfortunately, the concert is the same night that you have to work at your $10/hour job. If you wen..
Harry values a new jacket at $100 and buys it from Jenny at $80 (costing her $70 to produce it). Jim then offers Harry the same jacket at $60. Harry buys the jacket from Jim, and stops buying it from Jenny. Which of the following makes this event Par..
A goatherd has the cost function c(y) = 2y2, where y is the number of tubs of goat cheese she makes per month. She faces a competitive market for goat cheese,with a price of $40 a tub. How many tubs should she produce per month?
Consider your own workplace. Do you work for a company, the military, or at a nonprofits institution such as a hospital? Describe your organization's buying center and how it adds value by procuring what your organization needs to conduct its busines..
A primitive economy uses two inputs, capital and labor, to produce two products, food and shelter. The marginal rate of technical substitution between capital and labor in shelter production is 1/3, while the MRTS for food production is 1. How, if at..
Consider the following situation. An individual may decide to pay taxes of $1200 or evade them. Assume that if the individual evades taxes and is audited, he pays a fine of $350, in addition to back taxes. Set up the strategic form (payoff table), w..
Your firm is considering the purchase of a machine that costs $75,000. It will be used for six years, and will have zero salvage value at the end of the sixth year. The firm’s combined state and federal tax rate is 40% and its after-tax MARR is 12%. ..
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