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Oil spills in the Gulf of Mexico have been known to cause extensive damage to both public and private oyster grounds along the Louisiana and Mississippi shores. One way to protect shellfish along the shoreline is to release large volumes of fresh water from the Mississippi River to flush oil out to sea. This procedure inevitably results in death to some of the saltwater shellfish while preventing more widespread destruction to public reefs. Oil containment booms and other temporary structures can also be used to intercept floating oil before it damages sensitive fishing grounds. If the Fish and Wildlife Service spent $110 millions in year 0 and $50 million in year 1 and 2 to minimize environment damage from one particular oil spill, what is the benefit-to-cost ratio provided the efforts resulted in saving 3000 jobs valued at a total of $175 million per year? Assume disbenefits associated with oyster deaths amounted to $30 millions in year 0. Use a 5 years study period and an interest rate of 8% per year.
Visit the Bureau of Economic Analysis Web site at www.bea.gov In U.S. Economic Accounts under National click on Gross Domestic Product (GDP), then Interactive Tables:GDP and the National Income and Product Account (NIPA) Historical Tables
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 est..
What will happen to the money supply in a checkable-deposits-only system? a) The required reserve ratio is 10%, and a depositor withdraws $2,000 from his checkable bank deposit.
Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The laboratory can hire any number of radiology technicians per hour to produce radiographs, which are displayed on a screen. The relationship between the number of technicians h..
Our salespeople report that the arrival of new competing products has reduced expected sales of your new product to $3 million. what is the most you should pay to complete development.
The report has been arranged for the research that has been conducted for the economic performance of India over the last ten years, from 2004 to 2013, by applying the macroeconomic indicators of real GDP and real GDP per capita.
This would obviouslyr equire more pilots, stewardesses, and others that facilitate theair-travel experience. However, suppose at the same time that several of the major airlines experienced a shortage of pilots dueto a strike.
Suppose we start at a position where we are at full employment. Explain what effect a contractiory fiscal policy would have on the price level and real GDP starting from full employment equilibrium. What would the effect be if we had and expansionary..
Use the (Keynesian) AD-AS model to answer the following questions.Draw the effects of a recession caused by a decrease in aggregate demand. For simiplicity, assume that your economy starts at general equilibrium. Label your graph carefully.
Accordingly, in order to make its commitment to NATO credible, rather than station all its troops in relatively safe areas, the U.S. chose to station many of its troops close to the borders of Soviet-friendly countries. How does this make the U.S..
Discuss the advantages and/or disadvantages of distributing marketable pesticide permits to each farm operating in the watershed equal to 40% of its current level of use of that pesticide, versus simply ordering each farm to reduce pesticide use t..
Economic and political stability are important factors to be considered when finalizing an international investment. Illustrate what are some specific risks of investing in politically and economically unstable countries. Cite real life examples.
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