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Most large urban areas have a mass transit and railway system that facilitates travel within the city, and in some cases, between the city and its neighboring areas and suburbs. What are the benefits and costs of maintaining a mass public transport system (i.e. bus and rail) in densely-populated urban areas? Should Indianapolis seriously consider expanding its bus-only transit system to include a heavy rail system similar to say, MARTA in Atlanta, Metrorail in Miami-Dade County, or Red Line in Cleveland. Why or why not?
Suppose you contribute $10 per week ($520 per year) into an interest-bearing account that earns 6% a year (compounded once per year). That’s probably one less pizza per week! But if you contribute faithfully each week into this account, how much mone..
Within which sections of the production function is marginal product increasing. Explicate the link between scarcity, choice and opportunity cost
Identify four different types of Regional Trade Agreements (RTAs). 2. Examine the European Union (EU) and its current state. Discuss how the EU is related to RTAs. 3. Discuss the benefits and negative aspects of using a common currency.
Elaine is going to invest $5,000 this year, and plans on increasing her investments by 7% each year. If she invests for 20 consecutive years and earns 7% per year, the amount she deposits on the 20th year is closest to …
The main economic rationale for a patent system is that quick imitation and commercialization reduces the expected profits of drug companies which thereby diminishes innovative activities. Given market realities, do you think a patent system is truly..
For each of the following scenarios, please decide whether there will be an increase, decrease, or no change in aggregate demand. The United States government decides to increase the federal tax rate by 4% for all earners.
Many economists claim that in a small open economy operating under a fixed exchange rate regime, the domestic central bank is powerless to control the money supply, and monetary policy is thus powerless as a tool to stabilize domestic output. Do you ..
Identify whether the following items are counted in M1 only, M2 only, both M1 and M2, or neither: Suppose Bob digs up a box in his front yard that contains $1000. A month later, Bob buys a $1000 government bond from the Fed with this money. What happ..
In this assignment, you will examine how to construct production possibilities frontiers and use them to explore economic tradeoffs. Each country on your graph should have the same degree of concavity, with the two outputs of goods and services label..
Prepare a two to three page report titled "Environmental Sustainability in the European Union (EU)." The report should be based on the publicly available information that you obtained. You may use the report published by the European Commission.
A monopsony faces a supply curve of p=10+Q. What is its marginal expenditure curve? If the monopsony has a demand curve of p=50-Q, what are the equilibrium quantity and price? How does this equilibrium differ from the competitive equilibrium?
Mechanics usually have better information about how to fix automobiles than their costumers do. What problems does this advantage create? Do mechanics or their customers do anything to limit these problems?
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