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Sometimes market activities (production, buying and selling) have unintended positive or negative effects outside the market's scope. TI know that is an externality. The question is:
Suppose that you are a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant. What tools would you use? What would be the benefits of the action? What would be the costs? How would you decide what was the best level of emission reduction? Why do you think your approach would be better than others?
Identify current trends in macro and microeconomics.
Critically examine market structures, consumer behavior, production costs, and international trade.
Goods and services not purchased in markets, such as food produced and consumed at home, are usually not included in GDP. How might this impact our measure of economic well being Should we try and include these types of good when measuring GDP
Ann McCutcheon is hired as a consultant to a firm producing ball bearings. This firm sells in two distinct markets, each of which is completely sealed off from the other. What price should managers charge in each market?
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases
What role do inventories play in determining the real GDP demanded In answering this question, suppose initially that firms are either producing more than people plan to spend or producing less than people plan to spend.
Critical Thinking: Last year Congress passed a bill creating a new national health care system that is not yet fully explained. What principles of economics relate to this decision
An article in BusinessWeek warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to "export its way out of trouble" by oversupplying everything from automobiles to semiconductors.
Discuss industry structure, demand and market conditions, and the pricing behavior of Kodak in the 1990s. Do you think the industry environment is significantly different today? Explain.
Completion of import documents needed for entry into the U.S. to include the tariff classification number and impacted duty rates or fees. Potential dumping issues (i.e. predatory pricing with knockoff products: when manufacturers export a product..
Give an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Pham can work as many or as few hours as she wants at the college bookstore for $11 per hour. But due to her hectic schedule, she has just 19 hours per week that she can spend working at either the bookstore or at other potential jobs
The Case in Point on Externalities, Cigarettes, and Smoking suggests that smokers generate: a-external benefits to society by dying early, thereby subsidizing the retirement costs of the rest of the population. b-external costs to society by dying ea..
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