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Question: Use Barber's excellent work on John Stuart Mill in History of Economic Thought to show how Mill would comment on Barber's fantastic chapter on John Maynard Keynes.
What are the characteristics of a "tragedy of the commons"? Can the emission of greenhouse gases (causing global warming)
How do you evaluate our decline in international trade? What do you think should be done to improve our foreign trade?
If the public projects are not mutually exclusive, but the budget is $60K, which one(s) should be done? What is the minimum attractive rate of return?
Analyze the effects of a reduction in the nominal money stock on the price level, on output, and on the real money stock when the aggregate supply curve is positively sloped and wages adjust slowly over time.
1. In autarky (no trade), What are the relative prices of the goods in each country? 2. (i) Which country has the comparative advantage in the production of T?
Consider a monopoly that has a demand curve that is a straight line that intersects the vertical axis at a price of $12 and has a slope of -2. The marginal revenue curve for this firm will have a slope of:
Suppose that the long-run world demand and supply elasticities of crude oil are -0.906 and 0.515, respectively. The current long-run equilibrium price is $30 per barrel and the equilibrium quantity is 16.88 billion barrels per year. Derive the linear..
a. Write down Sarah's budget constraint. b. Compute the marginal rate of substitution of books for clothing (UB/UC) and books for food (UB/UF).
Suppose my supervisor tells me to dispose of some regulated toxic substance by dumping it down the drain. In this case part of my problem is that I have been ordered to do something that is potentially injurious to human health and, furthermore, ille..
Compared to a uniform standard, how much are the savings for society of achieving an efficient allocation?
The demand function for a particular brand of LCD TV is given by p=2800-35x where p is the price per unit in dollars when x thousand television sets are sold. Determine the number of sets that must be sold in order to maximize the revenue.
Why are coal miners in China paid higher than factory workers even though they have received more or less the same level of education and training? Why are workers with good looks paid higher in some jobs, but not in others?
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