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The government is considering a policy to reduce air pollution by restricting the use of “dirty” fuels by factories. In deciding whether to implement the policy, how, if at all, will the likely effects of this policy impact real GDP?
a)The government purchase component of real GDP will increase due to the implementation of pollution-reducing improvements, and the consumption component will also increase due to cleaner air.
b)The cost of implementing pollution-reducing improvements will decrease real GDP due to the closing of some “dirty” factories, while the value of cleaner air will have no direct impact on real GDP.
c)The implementation of pollution-reducing improvements will increase real GDP due to increased investment, while the value of cleaner air will also have a definite positive impact on real GDP
d)The value of cleaner air will have a positive impact on real GDP; however, real GDP will be reduced due to increased investment from all the nation’s factories.
Over the last months, a growing score of economists have suggested that the Federal Reserve should raise interest rates (by reducing the money supply). Do you think that recent figures on employment and GDP growth lend support to such claims?
Let the random variable X follow a normal distribution with U(mu) = 50 and S2 = 64. Find the probability that X is less than 55. The probability is 0.2 that X is greater than what number?
suppose there are two diners. What will they order (at a Nash equilibrium)? b)suppose there are four diners. What will they order (at a Nash equilibrium)?
Present Worth Analysis, Annual Worth Analysis, Rate of Return Analysis, Incremental Analysis
Show graphically slutsky and hicks decomposition when price of x increases for normal good, inferior good (ordinary ) and giffen good. Label your graphs properly and label income effect and substitution effect in your graph. Derive the marshallian de..
Who is hurt and who is helped by an increase in the legal minimum wage? Under what circumstances might a higher minimum not reduce employment?
Illustrate what are the net benefits of this program. What would the net benefits be at a discount reate of 2 percent.
Consider the global market for crude oil Suppose there exists a single crude oil producer. This producer has a supply function for crude oil given by: If the crude oil producer acts as price-taking firm, what is the change in consumer surplus as a re..
a multinational engineering consulting firm that wants to provide resort accommodations to certain clients is
Over the past decade, medical costs have increased more rapidly than other prices. In order to illustrate how rising medical costs have affected consumer alternatives, let X represent the quantity of medical services, and let Y represent the quantity..
Greener Grass Company (GGC) competes with its main rival, Better Lawns and Gardens (BLG), in the supply and installation of in-ground lawn watering systems in the wealthy western suburbs of a major east-coast city. Derive algebraically the quantities..
An MBA student has proposed the following demand equation for good Y. QdY = a + b PY + c M where: QdY = quantity demanded of good Y in millions of tons per year PY = Price of good Y in dollars per ton M = Average consumer income in thousands of dolla..
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