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In the first years following the passage of the Clean Air Act in 1970, air pollution declined sharply, and there were important health benefits, including a decline in infant mortality. According to an article in the Economist magazine, however, recently some policymakers "worry that the EPA is constantly tightening restrictions on pollution, at ever higher cost to business but with diminishing returns in terms of public health."
a. Why might additional reductions in air pollution come at "ever higher cost"? What does the article mean that these reductions will result in "ever diminishing returns in terms of public health"?
b. How should the federal government decide whether further reductions in air pollution are needed? Source: "Soaring Emissions," Economist, June 2, 2011.
The Microsoft antitrust trial (United States vs. Microsoft) has been one of the biggest investigations of antitrust behavior since the turn of the century. You are supporting the Government, research and present a cohesive argument to the other si..
q1. the key to understanding how the level of real gdp will fall below and oscillate around potential output
Define the terms listed below. You should write a paragraph explaining each concept as if you were writing for your 15-year-old sibling.
How was your ballpark estimate developed - What disclaimers, if any, would you give to the project owner regarding the estimates for each project?
question 1. a. using the data from table calculate the elasticity of demand and elasticity of supply at each price
In the final round of a TV game show, contestants have a chance to increase their current winnings of 1 million dollars to 10 million dollars. If they are wrong, their prize is decreased to $100,000. To win, they have to guess the exact percentage th..
1. What is the expected value of choosing at random for an agent with x=.252.for what values of v would an agent with x=.25 prefer choosing at random from the alternative to abstaining from choice and getting U=0?
Explain how banks are financial intermediaries. What are reserves? What are excess reserves? Explain how the Fed can affect the quantity of excess reserves in the banking system.
Explain which country has an absolute advantage in the production of hats and which country has an absolute advantage in the production of beer.
Which of the following best illustrates the law of diminishing marginal utility?
A 10 % increase in the price of soda leads to a 20 % increase in the quantity of iced tea demanded. It appears that: When economists are sketching examples of a demand or supply curve that is close to horizontal, they refer to that demand or supply c..
Create a tracking portfolio to capture this gain. Explain what your tracking portfolio is made up of. Explain how you use it to make a profit. Be specific.
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