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Consider the "Moral Limits of Markets" by Michael J. Sandel. a) Employing Sandel's logic what do you think Sandel would have to say about a "command and control" approach to pollution control. Fully explain how you are interpreting his logic in the context of this question and how that logic supports your conclusion. Also fully explain how you are defining a "command and control" approach. b) Employing Sandel's logic what do you think Sandel would have to say about a "cap and trade" approach to pollution control. Fully explain how you are interpreting his logic in the context of this question and how that logic supports your conclusion. Also fully explain how you are defining a "cap and trade" approach.
Define the term "opportunity cost." Now that you have a definition of opportunity cost weigh the positives and negatives of taking a leave of absence from work and moving out of town to attend college full time, or maintaining your job while atten..
Describe why alternative efficient allocations may have different total levels, and different distributions, of wealth.
Suppose the wage rates of workers are based on the expected price level. If there is an unexpected increase in AD, it will cause the actual price level to increase. Then workers should raise their expected price level and negotiate a higher wage r..
Determine how a policy will change social welfare, changes in individual utility for high-income individuals are weighted more heavily.
Chamber of Commerce, and your colleague has written a position paper and asked you to proof read it. In that report, she concludes; "in 2009, the U.S. exports were $1.571 billion and imports were $1.946 billion, with a resulting trade deficit of $..
In the last month, the price of gasoline increased by 20 percent. Your job is to determine what caused the increase in price: a change in demand or a change in supply. Ms. Info has all the numbers associated with the gasoline market.
Consider the firms short run decision to hire workers. Suppose that a firm produces goods for sale in the perfectly competitive market. labor markets are competitive as well.
When the Fed buys government securities in the open market, the money supply ________ because ________. In the quantity theory of money, the assumption that aggregate output is fixed is based on the view that ________.M1 differs from M2 because _____..
What economic problem is the nation facing and what would be the goals of your Fiscal Policy
What determines the vertical intercept of the Security Market Line (SML)? What determines its slope? And what will happen to an asset’s price if it initially plots onto a point above the SML?
Compute the price elasticity of demand for paint and show your calculations. Decide whether the demand for paint is elastic, unitary elastic, or inelastic. Explain your reasoning and interpret your results.
Explain, using diagrams, why a monopoly can potentially earn super-normal profit in both the short run and the long run, while perfectly competitive firms can only earn normal profit in the long run.
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