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Use economics to compare three ways to reduce the demand for heroin: (i) the substitution of another, less dangerous, and less debilitating drug, such as methadone for heroin, to registered addicts; (ii) the free availability of the illegal substance to registered addicts; and (iii) a legal proscription on use, which is the current policy.
If expenditures on preventing crime equal $200 billion and the costs of crime to victims equal at least $300 billion, could the United States save $500 billion by abandoning all efforts to prevent crime?
The following events have their initial impact on which of the following: aggregate demand, short-run aggregate supply, long-run aggregate supply, or both short-run and long-run aggregate supply? Do the curves shift to the right or left?
The following is a firm's expansion path. The price of capital is $5 per unit; the price of labor is $2 per unit. Units of Output Units of Capital Units of Labor 10 6 5 20 8 10 30 13 20 When output is 30 units, what is long-run total cost?
If tax rates stay the same, what will happen to total tax revenue?
Malthusians and Neo-Malthusians believe that, eventually, the population of the earth will be exceeding the number of people able to be sustained by the earth's food production. As such, they advocated different forms of population control. However, ..
The present price (year 0) of kerosene is $4.30 per gallon, and its cost is expected to increase by 10% per year. (At the end of year 1, kerosene will cost $4.73 per gallon.) Mr. Garcia uses about 800 gallons of kerosene for space heating during a wi..
Suppose the labour market in the house cleaning industry in Quebec City can be described by the following demand and supply equations: LD = 400 - 10w and LS = 40 + 20w. Calculate the equilibrium wage and employment if the market is free.
The Gentle Warming Company is purchasing a new cooling system. To pay for the system, the company agrees to make 12 installment payments of $8186 per year, beginning at the end of year 1. How much should the company set aside today to pay for the coo..
elucidate the effects of such expectations on the following variables today: output (Y), nominal interest rate (i), exchange rate (E), investment (I) and trade balance
Elucidate its advantages and disadvantages and suggest appropriate policy prescriptions to deal with the potential shortcomings.
Your savings account was earning 3% interest. What are explicit and implicit costs of your decision. What is total opportunity cost this year of starting shop.
According to the political business cycle theory, if the Fed wanted to see a President re-elected, prior to the election it might.
ACNE Corporation currently has a 20% market share in a $15 billion industry (measured by sales revenue). EMCA Corporation currently has a 17% market share in that same industry. What is the sales revenue for each corporation?
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