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1. The Riparian use doctrine
A) Encourages conservation of water
B) Protects the rights of those who got there first
C) properly weighs the marginal benefits of water use to all users
D) all of the above
2. The “beneficial use” of water principle
A) allows the state to determine who gets priority of use in the event of a water shortage
B) protects farmer’s water rights, encouraging them to invest in more efficient means of using water
C) may encourage urban development
E) A and C above
Illustrate what factors do you use to determine whether to invest in the additional capital and labor.
About John Maynard Keynes. Explain the 4 tenets of the classical position. Consequences of Pease: explain Keynes concerns regarding the Armistice. What did Keynes really mean by “in the long run we are all dead>” Explain how the multiplier can achiev..
You were able to purchase two tickets to an up-coming concert for $100 apiece when the concert was first announced three months ago. Recently, you saw that StubHub was listing similar seats for $225 apiece. What does it cost you to attend the concert..
If government imposes a $5 specific tax to be collected from sellers, what is the price consumers will pay. Explain how much tax revenue is collected.
One year of life is then worth a little less than $67,000. Actually, if you are talking of Quality adjusted life year, your last calendar year might be worth considerably less than one quality adjusted life year ignoring that. They can’t spend more t..
The real interest rate is defined as: The loanable funds theory states that ________ is(are) determined by the ________ for loans. Which of the following are assumptions of the loanable funds theory? Which of the following are assumptions of the loan..
Consider the following: “In 1973 several major oil producing countries formed a cartel. The cartel effectively decreased the supply of crude oil. Gasoline prices rose sharply as did the total expenditures on gasoline.” Use a supply/demand diagram of ..
An electronics manufacturer is considering the purchase of one of two types of laser trimming devices. The sales forecast indicated that at least 8,000 units will be sold per year. Device A will increase the annual fixed cost of the plant by $20,000 ..
While purchasing _____ an individual whose cost of time is low will visit a larger number of dealers compared to the individual whose cost of time is high.
What are the three questions that must be answered in order to determine the consumers' willingness to pay in a mixed market of cars with both Lemons and plums?
Suppose that the U.S. government decides to charge cola consumers a tax. Before the tax, 25,000 cases of cola were sold every week at a price of $7 per case. After the tax, 18,000 cases of cola are sold every week; consumers pay $8 per case (includin..
Elucidate the dynamics through which an increase in the stock of money affects real output and the price level in the short run.
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