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What would have to happen to the market price of wheat for Felix to have the incentive to produce from the second field?
How does a technological advance that increases the efficiency of shoe production affect the production possibilities curve between shoes and pizza?
Using a production possibilities curve between schools and space stations, explain under what conditions the politician would be able to keep his promise.
Would it help you make decision on national air quality standards? Describe two positive statements that might useful in determining the air quality standards.
In the 1940s, Dr. Melvin Page conducted a national campaign to stop people other than infants from drinking milk. How would you evaluate Dr. Page's claim?
Who are the main beneficiaries of tax-exempt industrial development bonds (which enable communities to borrow funds to re-lend to firm constructing new plant.).
In 1998 a major dispute broke out between California and the United Kingdom involving. What do you think the U.S. government should have done in Barclay's case?
Suppose now that the government runs a deficit of 3 percent of GDP, and investment and private savings remain unchanged. What must happen to foreign borrowing?
Assume that Ricardian equivalence holds. What happens to national savings when the government increases the deficit? What happens to private savings?
Show the effect of an increased budget deficit. Show the effect of an increased budget deficit which originates as a result of increased public investment.
By how much lower was GDP in 1995 as a result of displaced investment, if an increase in the capital stock by 1 percent leads to a .2 percent increase in GDP?
How might you design a balanced budget amendment that would not force the government to cut back expenditures or raise taxes in an economic downturn?
Should expenditures on health care for children be considered an investment. What other expenditures might legitimately be classified as investment?
Should the revenues received be counted as reducing the deficit? How would the transaction be treated under a capital budget?
Assuming that the government raises taxes on wage income, what is the impact on GDP in the short run? What is the impact on the deficit and on investment?
Assume the government is considering whether to reduce the deficit by increasing capital gains. Describe how different groups are affected by the alternatives.
If resources are scare and if people are always wanting more than the economy can provide how is it possible that we would have unemployment?
Comparing the allocation without a tax to one with a tax. What are the differences in cumulative amounts extracted and the price paths?
Explain a situation you have observed (or read about) in which a firm made a decision considering irrelevant costs or did not consider relevant costs.
Find the equation of the indifference curve containing the optimal point and solve it for x2.
Discuss the importance of strategic alignment and the classical visionary approach of built-to-last companies.
Calculate the price elasticity of demand when the price is 25 and when the price is 30.
Discuss carefully who benefits and loses from such legislation, in the short run and in the long run. Discuss the political economy of such legislation.
Many of the issues of state and local taxation are similar to issues that arise in international contexts. Discuss the incidence of such taxes.
Many firms have employees, plants, and sales in more than one state. In imposing state corporation income taxes. Discuss the consequences of alternative rules.