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You are the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees. The Consumer Affairs Subcommittee is interested in your testimony about the pricing practices of your company because a recent news magazine reported that your mark-ups are 250 percent. The Environmental Subcommittee will ask you to justify why the firm should not be charged a per-unit tax on the firm's output to compensate for the pollution it discharges into a major river. Devise a game plan for responding to the questions that will be raised in the joint session of the subcommittees.
Political business cycle: Do economic events affect presidential elections? To test this so-called political business cycle theory, Gary Smith 20 obtained the following regression results based on the U.S Presidential elections for the four yearl..
Compute the coefficient of price-elasticity of supply for the seven prices ranges given above and complete the table.
Life insurance companies require applicants to submit to a physical examination as proof of insurability prior to issuing standard life insurance policies.
Explain and discuss the mechanisms by which this has occurred, and contrast our experience with: a) the recent performance of many NICs (newly-industrializing-countries) in the last few decades
According to the Heckscher-Ohlin theorem, is Russia capital abundant or labor abundant? Briefly explain. What is the impact of opening trade on the real wage in Russia? Briefly explain.
What price should DD set to maximize profits? What would output be if DD acted like a perfect competitor and set P = MC?
Assume you hire a furloughed Wall Street analyst to aid you examine your production process, and she uses your historical cost records to estimate that your total cost function is C(Q) = 100 + 2Q + 3.5Q2. Using this equation, answer the following ..
Calculate total factor productivity growth (our measure of technological progress) for each country using the growth accounting framework discussed in class.
Write an equation that expresses the money supply multiplier (for M1) in terms of its three determinants.
In national income accounting identity showing the equality between national saving and investment, what is the representation of private saving and what is the representation of public saving?
The Canadian economy is in long-run equilibrium. Assume the following events occur one at a time. Show the effect of each event on Aggregate Demand and Short-run Aggregate Supply in Canada by shifting only one curve.
Suppose that a perfectly equal distribution of income existed in Disneyland. Which of the reccent residents would have the same income he or she has in present distribution?
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