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Assume you are a U.S. Senator. The Senate has been asked for its "advice and consent" to a treaty negotiated by the Executive Branch. The treaty would require every nation of the world to reduce its carbon emissions by 20% by the year 2035. Exactly how this is to be done is left for each nation to decide. You have to vote, yes or no, on the treaty. How do you decide? What factors or sources do you consider, and why? Assume you have to vote yes or no. You cannot abstain or suggest amendments to the treaty. You should further assume that all nations are voting at the same time, so you cannot base your decision on what other countries choose to do.
If the government adhered strictly to an annual balance rule for its budget, then the government's budget balance would:
John is buying some wood from Michael at a price of $50. He needs to build warehouse to put them in. He has two options: (i) build a high quality warehouse at a cost of $100; or (ii) build a simple warehouse at a cost of $50. If there is no rule that..
An engineering student must decide whether to pay for auto insurance on a monthly or an annual basis. If paid annually, the cost is $1650. If paid monthly, the cost is $ 150 at the start of each month. What is the rate of return for buying the insura..
Which of the following best characterizes changes in the U.S. long-run aggregate supply curve during the past 50 years (taking into account that the economy has acquired better technology)?
calculate the breakeven cost of the above air-conditioner with condenser using evaporative cooling if the MARR is 8% p.a.
How can having panel data (with T=2 and n sufficiently large) help solve the omitted variables problem if the omitted variables are time invariant (don’t vary over time)?
Elucidate why a currency depreciation leads to an improvement in a countries balance of trade.
TT Drinks Company was established a hundred years ago and currently employs over 300 people. The company produces and sells a range of black, green and flavoured teas and fruit infusions. TT's last Director of Marketing was away from work with illnes..
Suppose that the individual demand for a product is given by Q = 1000 - 5P. Marginal revenue is MR = 200 - 0.4Q. There are no fixed costs and so marginal cost, which is constant, is equal to average cost. That is, MC = AC = $20. Calculate the firm's ..
Fair cross Farms harvests its crops four times annually and receives payment for its crop 90 days after it is picked and shipped. However, planting, irrigating, and harvesting must be done on a nearly continual schedule.
How can indifference curve analysis be used to compare the effects of lump-sum taxes and price-distorting taxes? What is the excess burden of a price-distorting tax for an individual taxpayer?
Suppose Apple sells phones with 4-inch screens and Samsung sells those 5-inch ones. Consumers have their hands of different sizes. Their most preferred sizes, as a result (that might depend on the probability that they drop their phones), are distrib..
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