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Using key concepts discussed in the classes, explain why there is a large role of government (either local or federal) in the transportation industry in the real world. Specif-ically, what types of government policies do you expect in the industry? Under what circumstances, such interventions are justied? Is it related to specic properties of transportation services? What are such properties?
Suppose Rob, an avid golfer, spent a total of $1800 on green fees for the 60 rounds of golf he played in 2014 and a total of $2000 on green fees for the 50 rounds of golf he played (on the same courses) in 2015 In the situation above, Rob's real cons..
Discuss the outcomes and challenges surrounding shortages in various markets. Below are a few examples from NBC learn. Pick one of these to discuss: Bees Tamiflu Workers Rice
Imagine that it is the year 2199. Technology has progressed at an incredible pace. The latest discovery is the plutonium engine, which is capable of converting plutonium, a by-product of nuclear fission, Describe the economic outcome of this single-p..
Explain how and why each source is valuable and useful.
Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm. Describe the busi..
Which of the following is a conclusion of using the generational accounting measure?
Suppose the Federal Reserve Bank adopts expansionary monetary policy. Using the graph of supply and demand for the market of short term Treasury securities, show graphically and briefly explain what happens to the price of short term treasury securit..
The foreign exchange market and the money market (the market in which you can borrow or lend in USD or Euro) are very efficient: so there is no room for arbitrage. The spot exchange rate between USD and Euro as of today is $0.9/Euro. The one-year int..
The change in the total quantity produced which results when one more worker is added to the production process is called
You are asked to evaluate three medical interventions that reduce the number of deaths due to congestive heart failure. Among these interventions, there are no influences on the patient's quality of life. Which evaluation method would you use and why..
Recently, a bank was trying to decide what fee to charge for "expedited payments"—payments that the bank would transmit at a faster speed to enable customers to avoid late fees on cable TV bills, electric bills, and the like. To try to determine what..
Suppose the intermediation or capital goods costs pho units of the consumption good for each unit of capital intermediated (
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