Assume that the government of the state of New Jersey has determined that a large number of injuries and deaths have occurred as a result of accidents involving the installation and repairs of electrical equipment at private residences
In reaction to this problem the state assembly decided to pass a law which made a requirement that all certified electricians take and pass a tougher state licensing examination. Analyze the impact that this law is likely to have on the market for electricians and explain why safety may not necessarily improve.
If the state licensing examination becomes more difficult it is likely that there will be fewer authorized and certified electricians in the state of New Jersey. As a result this reduction in supply will lead to higher wages for those who do qualify. The result however may lead more homeowners to perform electrical work themselves which might wipe out or more than wipe out the positive impact of having more highly qualified electricians performing work at private residences.
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Based on this information, what would be the national standard for an allocatively efficient abatement?
Hypothetically, suppose a recent study of hazardous waste abatement (A) arrives at the following national estimates for abating chemical solvents: MSB = 100 – 0.75A and MSC = 20 + 0.50A, where A is measured in millions of tons per year, and costs are measured in millions of dollars.
All recessions are due to external shocks
Answer the following statement(s) true (T) or false (F)
The value of a country's exports during a particular year was $610,000 and the value of its imports was $995,000. Which of the following is true?
A) The country ran a fiscal deficit of $605,000 during that year. B) The country ran a trade surplus of $385,000 during that year. C) The country ran a trade deficit of $385,000 during that year. D) The country ran a budget surplus of $1,605,000 during that year.
The nominal interest rate equals the:
What will be an ideal response?