Define each of the following terms and concepts and explain their significance in the economics of natural resources. In your discussion of each term/concept, give relevant examples.

a. [3 marks] Natural resource rents

b. [3 marks] Public good

c. [3 marks] intertemporal efficiency

d. [3 marks] Nonrenewable resources

e. [3 marks] Maximum sustainable yield

f. [3 marks] Incentive-based policies

A firm is considering purchasing a machine that costs ​$69,000. It will be used for six​ years, and the salvage value at that time is expected to be zero. The machine will save

​$42,000 per year in​ labor, but it will incur ​$10,000 in operating and maintenance costs each year. The machine will be depreciated according to​ five-year MACRS. The​ firm's tax rate is

35​%, and its​ after-tax MARR is 11​%. What is the present worth of the project?

Explain how the given federal government policy headline relates to long-run economic growth and produce a graph showing the effects of the government policy on Long-Run Aggregate Supply, the General Price Level, and output.

Federal Government Policy Headline: Congress Approves $250 Billion in Tax Breaks for Construction Equipment Upgrades

For this discussion board, explain one of the reasons why policymakers usually focus on demand-side policies to achieve their macroeconomic goals as opposed to the supply-side ones. Be sure to include concepts from the chapters.

Provide one example of a demand-side policy and explain why and how it causes the aggregate demand to shift.

Similarly for the supply side, you need to explain one of the reasons why some may prefer to use supply-side policies.

Provide one example of a supply-side policy and explain why and how it causes the aggregate supply to shift.

In what sense is OPEC's decision to cooperate as a cartel similar to the prisoners' decision to cooperate in the Prisoner's Dilemma game

Here, you will state whether you agree or disagree with fiscal and monetary policy actions taken.

•It is possible that some actions you agree with and other you disagree with - that is fine. You can discuss your reasons for disagreement or agreement on a case-by-case basis.

•In your argument, be sure you are using our economic models and concepts to support you and not just your own opinion or feeling about what is best. For instance, saying that we should not have spent money on government programs because it's not fair to give out money to people would not be an macroeconomics-based reason. You could say that increased government spending through expansionary fiscal policy created too much inflation later on and so you disagree with that action.

Data of a perfect competition market for good X is given by the following supply and
demand equation:
(D) : P = -1/2*Q + 600
(S): P = 1/2*Q + 350
The world price; Pw = 450$
Assume that the country is small and there is free trade.
a. Calculate the imported amount of good X, domestic quantity supplied and quantity
demanded at the world price.
b. Now the government imposes a tax of t = 10$/ imported unit, identify the effect of
tariff on the importing country in terms of: domestic production, domestic demand,
domestic price.
c. Calculate the Deadweight Loss caused by the tariff policy.
d. Explain why even the tariff policy causes a Deadweight Loss to the society, many
developing countries still use it.
e. If the Vietnamese government increases its tariff on the imported rice from Thailand
and Japan, what will be its effects on the market for rice in Vietnam?

How can trade between EU members affect unemployment? How could labour mobility have alleviated the unemployment differential in early 1990's? d) Do we observe labour mobility in reality? How does this relate to the theory of optimum currency areas?

Consider the Keynesian model, which is based on examining the expenditure side of the economy (AE = C + I + G + X – M)!

Please, formulate 3 different macroeconomic policies in the context of this model that could potentially have a positive multiplier effect on the economy! Please, explain in 2-3 sentences, why would each of your proposed policies lead to a positive multiplier effect and what are the risks that could reduce the multiplier effect!

In a fixed exchange rate regime, an increase in the price level will cause which of the following? Explanation please

A) a real appreciation and a leftward shift in the aggregate demand curve

B) a real appreciation and no shift in the aggregate demand curve

C) a real depreciation and a rightward shift in the aggregate demand curve

D) a real depreciation and no shift in the aggregate demand curve

E) no change in the real exchange rate, and no change in aggregate demand

4) list the main thrusts of the new Keynesians thought.

5) explain why formal and implicit contracts lead to and increase in unemployment according to new Keynesian school and how government should intervene actively through fiscal and monetary policies to counter this problem.

How cashless economy leads to mis-allocation of resources? example

Suppose the Bank of Canada releases a policy statement today which leads people to believe that the Bank will be enacting expansionary monetary policy in the near future. Everything else held constant, the release of this statement would immediately cause the demand for Canadian assets to ________ and the Canadian dollar to ________.

A) increase; appreciate

B) decrease; appreciate

C) increase; depreciate

D) decrease; depreciate

Question: What are the main influences on the elasticity of demand that that makes the demand for some goods elastic and demand for another goods inelastic? What are the main influences on the elasticity of supply that make the supply of goods elastic and the supply of other goods inelastic? Chapter 5