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Question: In an attempt to help the farm sector, Congress has several times passed legislation initiating and then extending the requirement that ethanol be blended with gasoline sold at the pump in many states. Because the cost of producing ethanol is higher than the cost of producing gasoline, the Federal government pays a subsidy to ethanol producers. The evidence is fairly clear that the demand for ethanol boosts the price of corn. Farmers argue that they would receive a minimum price anyhow, so food costs to consumers do not rise, and the greater dependence on ethanol reduces the demand for foreign oil, hence reducing imported oil prices and the amount of money going to OPEC nations. Assuming this argument has some merit, how would you measure whether the taxpayers are essentially getting their money's worth out of the ethanol subsidy? In your answer, indicate whether that policy might have any long-term impact on productivity growth.
Define the union wage gain and the union wage gap. Why should we care about the magnitude of the union wage gain? Why should we care about the magnitude of the union wage gap? Under what conditions will the union wage gap provide a reasonable estimat..
Suppose that Dent Carr's long-run total cost of reparing s cars per week is c(s) = 2s^2 + 50. If the price he receives for repairing a car is $8, then in the long run, how many cars will he fix per week if he maximized profits?
Identify the reasons and purpose for conducting employee orientation. Outline what would be covered in organizational and departmental orientation.
Suppose you are a discus hurler and your goal is to maximize the distance you achieve. You "produce" discus hurls by practicing. The total benefit of practice is distance achieved, and the input that achieves this distance is hours of practice. D..
With respect to price elasticity of demand, create a graph using the information in figure 1. Illustrate the ranges on demand curve that indicate elastic, inelastic, and unitary elasticity.
According to the principle of cyclical unemployment, what will occur when the demand for goods and services drops during a recession?
explain briefly how a change to the following ms md or p ceteris paribus would shift the lm function to the right.
Globalization is becoming very important in economic discussions. While some politicians favor protectionist policies because they feel these policies protect domestic producers, others claim free trade increases economic activity and has advantag..
What is rent seeking How much, potentially, might this monopolist spend on rent seeking activities Assume that they will earn the same profit you calculated in part c forever, and that the interest rate is 5%.
Elly is a teacher. Her mom gets really sick in January 2009, therefore she quits her job as a teacher and cares for her mother full time. But in January 2010 the government introduces a new scheme under which elly can get full time care for her mothe..
The present value of the gain from employing the new factory must be less or equal to $50 million and the rate of return from the new factory must be greater than 7%.
In the readings this semester, where do you see people beginning to look to other sources than an authority from the past; beginning to experience and expect more and more change in their lives.
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