The Wilfer Resort Hotel has a spectacular view of a pine forest along a river bank. Suppose a commercial logger has purchased the pine forest and is planning to clear-cut the forest in a way that has a negative impact on the resort
Can the two parties arrive at a Coasian solution and if so what might that solution be?
In this case, since there are only two parties involved, private bargaining can bring about an efficient outcome. For example, the resort-owner could pay the logger not to clear-cut the forest or could buy the forest from its owner.
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Many business professionals constantly monitor their incoming email and text messages so they can appear to be alert and responsive, even at night and on weekends
Alternatively, some time management consultants recommend that business professionals should not constantly check for new messages because this practice distracts the worker from scheduled tasks that may have higher priority. The decision to check email or text messages less frequently may not harm the worker's salary if it is a: A) weak signal of worker ability. B) weak signal of cell phone strength. C) strong signal of worker ability. D) strong signal of ease of distraction.
A production possibilities curve will shift outward or to the right for all of the following reasons EXCEPT
A) an increase in the unemployment rate. B) an increase in the quality of the labor force. C) an improvement in production technology. D) a discovery of a new source of renewable energy.
In practice, the most difficult aspect of feasible WLS estimation is
A) knowing the functional form of the conditional variance. B) applying the WLS rather than the OLS formula. C) finding an econometric package that actually calculates WLS. D) applying WLS when you have a log-log functional form.
A change in consumer taste will prompt a change in _____.
Fill in the blank(s) with the appropriate word(s).