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Questions
1. Provide a detailed explanation of the concept of willingness to pay by discussing revealed preference methods and the contingent valuation approach.
2. Explain the FOUR basic steps in benefit-cost analysis, which aspect of benefit-cost analysis would you consider to be the most controversial? Give reasons for your answer.
3. Standards appear to offer a method to take away the freedom of sources to pollute, replacing it with mandated changes in behaviour." Critically analyse the role of standards in controlling pollution in the environment.
Research and identify the salient features of the Fair Labor Standards Act (FLSA). Provide a definition of exempt and nonexempt employees. State at least three criteria that differentiate an exempt and nonexempt employee.
Use the appropriate version of the appropriate theorem to explain who would have lobbied for this tariff. Why is a tariff "second best"?
What is free and informed consent from the Catholic perspective?
Use the following table to classify each explanation for the high rate as an instance of either adverse selection or moral hazard.
Would a dynamic approach to taxation be more likely to lead to economic growth than the static approach in a country with a falling tax base? What about in a country with a growing tax base?
Conclude the optimal number of bran muffins to sell in a single package also the optimal package price. Elucidate how all step by step calculations to arrive at solution.
Critically discuss the extent to which there are market failures, externalities, and efficiencies in property and planning. Use first principle concepts and cit
On October 19, 1987, the Dow Jones industrial average dropped about 500 points or a little more than 23%. What effect should a decline in stock values of this magnitude have had on aggregate demand according to the life-cycle theory of consumption?
In "Nine Challenges of Alternative Energy" (pp. 386-397), David Fridley argues that the growing cost of and demand for energy, along with the growing concerns of the global climate, leaves us facing, not just a need to explore alternative energy opti..
Based on elasticity and total expenditure. As a businessperson, you've identified your products with a 0.98 price elasticity of demand. Your financial adviser e
All other things held constant, what would the probability of losing have to change to so that Ms. Lee is indifferent between not gambling and gambling?
What are the four major phases of the business cycle? How long do business cycles last? Why does the business cycle affect output and employment in durable good
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