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Why are most environmental resources un-priced (or under-priced) and what are the consequences of this? Under what circumstances is it desirable to monetize priceless environmental amenities? Briefly describe three methodologies for monetizing environmental amenities. What is the difference between passive use & direct use benefits?
For the argument in favor of state subsidies, draw (by hand is OK, but make sure it's neat) a supply and demand diagram that shows the positive externality, the effect of the subsidy, the market outcome, and the socially optimal outcome.
Explain the tools used to pursue expansionary and contractionary fiscal policy. During which phases of the business cycle would each be appropriate Explain what is meant by a built-in stabilizer and give two examples
There are two goods in the economy, anchovies, (a fish) and bananas (a farm product). Draw the economic possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
Again when the income rises by 5 percent, the units consumed of the commodity increase from 100 to 110. What is the income elasticity of demand for the good?
Gus cab driver rents a cab and pays for gas. In each of following circumstances, describe the short-run effects & long-run effects on the price and quantity of rides Gus offers.
Consider the following responses to the event of a hurricane. For this discussion: you do not need to provide an answer for each of the owners' responses, but do give your economics reasoning to support the conclusion that you've drawn with respe..
Compare and contrast the advantages and disadvantages of instituting an import tariff, or an outright ban on the importation of certain goods into U.S. markets.
What is a balance sheet? What is the accounting equation? Define each term in the accounting equation.
Elucidate what would social security payments have been in 2001 if the actual rate of inflation had been used.
Define what is a change in the amount of a product that consumers will buy because of the change in price.
Which of the following is an advantage of an indexed equity mutual fund relative to a managed equity fund? a. Indexed funds generally have better stock pickers.
You are creating a list of Customers (from the Customer table in Workshop 02) and you wish for that list to be in reverse alphabetical order of LastName, and alphabetical order of FirstName such at Jones, Ben will appear in the list before Jones, ..
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