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Devote 500 words to each question for a total of 1,000 words.
1. How and why does Mill critique Bentham's version of Utilitarianism for its lack of protection against the "tyranny ofthe majority" and how does his principle of liberty remedy this oversight?
2. Singer claims in the "solution to world poverty" that one should donate most of one's disposable income to organizations like OXFAM or UNICEF, and that failing to do that is analogous to refraining from saving a drowning child to protect one's new shoes. How would Aristotle, Kant, and Mill respond to this claim? Be sure to give reasons compatible with each philosopher's ethicalsystem in your answer.
Mr. Smith has a weekly income of M = $24. Initially the prices of Xand Y are both $2/unit and Mr. Smith buys 6 units each of X and Yeach week, a bundle on indifference curve I0. Then, ceterisparibus, the price of X increases to $4/unit
Product X is traded on the international market at a price p = 0.5. Consider a small open economy where there are two firms, A and B, producing product X. The two firms have a production function q^A = 10l^1/2k^1/2 and q^B = 10 min{l, k}
a) the market value of all final goods and services produced withing Wrexington in 2006 is what B) Gross national product for Wrexington in 2006 is what c) Net national product for Wrexington in 2006 is what d)National income for Wrexington in 2006 i..
1. The cross price elasticity of demand between goods X and Y is -3.5. If the price of X decreases by 7%, the quantity demanded of Y will ___. 2. What is the horizontal intercept of the budget line, given that M = $1,000, PX = $50, and PY = $40
What happens to your answers in b.), c.), and d.) if the tax rate decreased to 8% What was the original expenditure multiplier in this country What is the multiplier after the change in the tax regime
Provide some examples of Fed actions that could be harmful and of the damage that could be done. How can the Fed help the economy? Provide examples
Alchem (L) is the price leader in the polyglue market. All 10 other manufacturers (follower [F] firms) sell polyglue at the same price as Alchem. Alchem allows the other firms to sell as much as they wish at the established price and supplies the ..
How do you interpret the effect of immigrant status on wages when the model is Log wages regressed on immigrant dummy, and an immigrant dummy interaction
Calculate the NPV of the cash flows expected in 2006-2010 using only the 2005 Cost of Capital Calculate the NPV of the cash flows using the CASH FLOW figures at the bottom of the spreadsheet
The companies expect to invest $120 million upfront to set up the new unit. HoosierMaker expects to garner revenue of $9.5 million each year and spend $1.3 million a year in costs, over the next 7 years. What is the future worth of this investment..
By how much would the demand curve have to shift upward in order that the socially optimal quantity is realized?
Austin Utilities is planning to install solar panels to provide some of the electricity for its groundwater desalting plant. The project would be done in two phases. The first phase will cost $4 million in year 1 and $5million in year 2.
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