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Governments often impose taxes on the emission of specific pollutants, such as carbon tax.
1. What is the relationship between the short-run effect and the long-run effect of such a tax on the quantity of pollution emitted?
2. What is the relationship between the revenue collected by such a tax in the short run versus in the long run? Explain.
q. a company has started a phone service that uses overseas doctors to provide emergency medical consultations.
For a normal good, the income and substitution effects
Suppose that the U.S. government increases income taxes on individuals earning more than $500,000/year and uses the revenue from this tax increase to subsidize the cost of energy for businesses. How will this policy change affect the U.S. economy? Th..
The U.S Tobacco Settlement Agreement between the major tobacco companies and 46 states caused the price of cigarettes to jump 45 cents (21%) in November 1998. Levy and Marea (2006) find only 2.65% drop in prenatal smoking 15 months later. What is the..
A negative externality causes private markets to produce a level of output that is :
If the Fed simultaneously raises the discount rate and the reserve requirement, the money supply will:
Suppose the consumption behavior in problem 1 changes so that C=100+0.9Y, while I remains at 50. Assume an economy without government and without trade. Suppose the Consumption function is given by C=100+0.8Y , whereas I=50.
U.S. is currently suffering from underemployment and excessive current account deficit. What measures can U.S. take to move away from its present situation towards internal and external balance? Consider rules of Bretton Woods and policy tools.
The government wants to make Medicare benefits available to more people, but to achieve this goal, it needs to make cuts in the existing Medicare budget. The two areas where they are considering cuts are non-essential elective surgery and 6-12 month ..
Assume that each firm is free to set its production level, but each firm can communicate (via the business press) what they plan to do first. Using an economic model, show that it might be difficult to sustain a cooperative (high-profit) outcome. Wha..
What is the outcome of the case and whether you agree with the final decision and why?
A primary cause of inefficiency in government is that. According to the survey reported in the text, most people believe that health related goods and services should be allocated by the ___ allocation mechanism. An illegal drug dealer will maximize ..
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