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The government is considering a policy to reduce air pollution by restricting the use of “dirty” fuels by factories. In deciding whether to implement the policy, how, if at all, will the likely effects of this policy impact real GDP?
a)The government purchase component of real GDP will increase due to the implementation of pollution-reducing improvements, and the consumption component will also increase due to cleaner air.
b)The cost of implementing pollution-reducing improvements will decrease real GDP due to the closing of some “dirty” factories, while the value of cleaner air will have no direct impact on real GDP.
c)The implementation of pollution-reducing improvements will increase real GDP due to increased investment, while the value of cleaner air will also have a definite positive impact on real GDP
d)The value of cleaner air will have a positive impact on real GDP; however, real GDP will be reduced due to increased investment from all the nation’s factories.
The CEO of a major automaker overheard one of its division managers makes the following statement regarding the firm’s production plans: ”In order to maximize profits, it is essential that we operate at the minimum point of our average total cost cur..
Bob’s Whole Catfish is a southern Alabama farm that operates in the perfectly competitive catfish farming industry. Bob’s short-run total cost curve is STC(Q)=400+2Q+0.5Q2 where Q is the number of catfish harvest per month. All of the fixed costs are..
What factors in global segment can have significant impact on U.S. restaurant industry? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the industry?
An individual who is not an existing client approaches you in early November stating that the income tax return for the financial year has not been prepared or lodged.
sing specific data for an industry of your choice Elucidate how the benefits of such a policy.
As you know, the Affordable Care Act expands coverage for low-income US citizens by giving them access to Medicaid. As you also know, not every state has taken advantage of this Medicaid expansion. What economic argument can you make for expanding Me..
Van has plans to go to an opera and already has a $100 non refundable, non exchangeable, and non transferable ticket. Now Amy, whom Van has wanted to date for a long time, asks him to a party. Van would prefer to go to the party with Amy and forgo th..
Your income is $10 and you buy sodas for $1 apiece. One day a local bully starts demanding that you buy him a soda for every soda you buy yourself. Therefore, it now costs you $2 to get a soda. In these circumstances, you choose to buy 3 sodas a day...
Either design will serve equally well and will involve the same material and manufacturing costs excluding the lathe as well as drilling operations.
A firm has a production function given by Q=10K^0.25L^0.25. Suppose that each unit of capital costs R and each unit of labor costs W. Derive the long run demands for capital and labor. Derive the total cost curve for this firm. Derive the long-run av..
Illustrate what will be the long run market equilibrium price also output. Elucidate how many mills of Illustrate what type - new or old - will survive.
Prove that the firm has decreasing returns to scale. Theresa received an order for 5000 units. Find the optimal K/L ratio, as a function of w/r. Next, assuming w = $20 and r = .10, solve for Ki*, Li*, and qi*. Then draw a graph, showing the isoquant ..
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