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Describe two reasons why education growth may not translate to increases in GDP for a country.
Show how moving from a lump sum tax to a linear tax affects outcomes in terms of output and work effort. What is the effect on economic efficiency? How does your picture show this? You should use a linear PPF.
Assume there is uncertainty about the cost of disposing of the waste: there is a fifty-fifty chance that they will be $10,000 or $30,000. How this uncertainty affects the cost-benefit calculation, if the government is risk neutral, or very risk avers..
Discuss several ways in which greater educational opportunities for young women could lead to faster economic growth in these nations.
Inflation and Quantity theory of Money. Adapted from Jones Q3 Ch 8: What is the key endogenous variable in the quantity theory? (Read chapter 8 if this isn't clear) Explain the effect on this key variable of the following changes (holding everything ..
There are over 5,000 banks in the United States—more than 10 times more per person than in other industrialized countries. A recent study suggests that the long-run average cost curve for an individual bank is relatively flat. If Congress took steps ..
In the ‘Classico’ Region within Tuscany, all producers of Chianti wine must submit their wines to a government inspection process which certifies that only grapes grown in the Classic region have been used in the wine. All wines which pass this test ..
Using the expenditure approach, gross domestic product equals:
Present the arguments for free trade and the arguments for protection of the US domestic steel industry. Analyze and evaluate the arguments. What policy should we follow in the steel industry and why?
Would a dynamic approach to taxation be more likely to lead to economic growth than the static approach in a country with a falling tax base? What about in a country with a growing tax base? If free riders cannot be excluded from consumption of a goo..
You have just started a new job and one of the fringe benefits is a company contribution of $5,000 every year into a retirement savings account. Assuming the contribution amounts remain unchanged and that the account earns an average of 8% per year, ..
A land development company is considering the purchase of earth-moving equipment. The equipment will have a first cost of $190,000 and a salvage value of $70000 when the company sells it in 10 years. how many days per year must the company need the e..
Q1: suppose that changing climate conditions lead to greater wear and tear on the nations capital stock, meaning an increase in the depreciation rate of capital. Which of the following is steady-state for this economy?
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