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1. How would you treat the activities of criminals in GDP accounting? What about the ac- tivities of the police force?
2. The Beatles claimed that "I don't care too much for money, money can't buy me love." (Shortly after ?rst making this claim they joined the ranks of the richest people in the world.) Does their claim undermine the use of GDP to measure welfare?
How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar?
Let Tom’s utility function be U(C,L) = ??! + 3×??! . If Tom has 10 hours to split between work and leisure and his wage rate is $5 per hour, what would be his optimal allocation?
Critics have argued that if there are strong factor substitution effects, these subsidies could reduce employment in the state. Explain their argument. How does this affect the labor market
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
what do you think is the best solution to the obesity epidemic? what roles can the food and restaurant industries, trial attorneys, government policymakers and regulators, and individual consumers play in a solution, if any
You know from data gathered on the widget market that market demand has recently increased and market supply has recently decreased. As manager of the facility, what decisions should you make regarding production levels and pricing for your widget..
a why and how might education have externality effects?b in our discussion of education and wages we assumed that
Draw a supply/demand diagram to model the US stock market (use the value of a stock price index such as the S&P 500 to represent the overall level of stock prices;
What is the value of the average fixed cost at the efficient volume and what is the efficient volume, toll and average fixed cost if the highway is built with four lanes? Explain.
An increase in the demand for video films also increases the salaries of actors and actresses. Is the long-run supply curve for films likely to be horizontal or upward sloping? Explain.
Calculate the payback period (P/B) and the net present value (NPV) for the project - Answer the following questions based on your P/B and NPV calculations.
First ignore the implicit constraints: 8 i; xi 0 and give the FOCs. Then take them into account and give the Kuhn-Tucker Conditions. Simplify your expressions as far as you can.
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