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"U.S. Supreme Court Justice Stephen Breyer's book "Breaking the Vicious Circle: Toward Effective Risk Regulation (1993)" examines government's role in controlling and managing the health risks society faces from exposure to environmental pollution. One main difficulty examined in the book is the cleanup of hazardous waste sites. Justice Breyer was extremely critical of policymakers who wish to see waste sites 100% clean.
a). Explain, using the theory of optimization and a graph, the circumstances under which a waste site could be made "too clean". (Good answers are dispassionate and employ economic analysis)
b). Justice Breyer believes that society can enjoy virtually all the health benefits of cleaning up a waste site for only a "small fraction" of the total cost of completely cleaning a site. Doing analysis graphically illustrate this situation.
Calculate real GDP in each year, and the percentage increase in real GDP from year 1 to year 2 using year 1 as the base year. Next, do the same calculations using the chain-weighting method.
A young physician makes $180,000 per year with an annual salary increase of 2%.
Discover the payout ratio rounded to the nearest whole percent, and explicate what a payout ratio means.
Outline reasons why the marginal revenue product differs between workers in different jobs.
Explain how could ABC use interest rate swaps to reduce the exposure of its cost of debt to interest rate movements.
If the firm's MARR is increased to 25%, what would be the required savings in leasing so that the project would remain profitable.
what combination of coal-fired plants and gas-fired plants would minimize construction costs.
Find the profit-maximizing choice of q for this miniature farm; also compute profits that will be earned at this choice of q.
Required all pharmaceutical firms to sell their drugs in a competitive market with no ability to patent their break.
Describe the Discretionary and Non-discretionary Fiscal Policy you would advise
Can you recognize from the graph the period for which Canada was on affixed x-rate regime with the US dollar and the UK pound? What was this period.
What is the impact of the trade surplus or trade deficit upon the interest rates and currency exchange rates.
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