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Classification of Externality
Keeping in view the nature of the problem, externality may be classified into four broad types:
The disposal of public bad under normal course is done in various forms through natural resources media like air, water and land by treating earth as a natural sink. In the process of disposal, if the pollution load of public bad exceeds the assimilative capacity of the natural resource, it will impose serious problem by impairing the ecological balance. Hence, the main issue is how to abate pollution to the required level in order to keep both living and non-living organisms in good health and prosperity.
Suppose the firm mark up over the cost is 10% and the wage setting equation is W=P (1-u) where U is the unemployment rate. a) Find out the real wage rate implied by the price se
Question: Describe the main measures of size and/or cutoff point below which economies are classed as small? In 1982 the Development Committee of the World Bank and the Int
describe and illustrate the lm-schedule
Question 1: i) Describe the concept of circular flow of income. ii) Comment on the view that ‘GDP is the best measure to evaluate economic growth and standard of living'. iii)
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critically examine the statement that privatization can always decentralize economic power
explain how under the WTO differential treatment in reverse is different from the special and differential treatment
‘…Policies that promote residential mobility and increase the knowledge of the consumer-voter will improve the allocation of government expenditures in the same sense that mobility
The fragmentation and redundancies of the U.S federal system are expensive in terms of coordination and personnel costs. Would you favor or oppose greater consolidation? Why or why
Discuss whether high indirect taxes are the best way to discourage smoking.
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