Economics Homework Questions?

Question

Buyers will opt out of markets in which:

A. there are significant negative externalities.

B. standardized products are being produced.

C. there is inadequate information about sellers and their products.

D. there are only foreign sellers.

Suppose that Susie creates a work of art and displays it in a public place. Economists would expect:

A. those enjoying the art to contribute money to compensate Susie for her costs.

B. those enjoying the art to "free ride" since they cannot be made to bear any of the cost.

C. government to tax those entering the public place in order to pay Susie for her efforts.

D. asymmetric information to lead some to pay Susie while others do not.

The Clean Air Act of 1990:

A. places taxes on utilities emitting sulfur dioxide, the major cause of acid rain.

B. sets aside billions of dollars to promote recycling.

C. allows utilities to buy and sell sulfur dioxide emission credits provided by government.

D. places taxes on producers who emit toxic chemicals.

Answer 1

When comparing firms within a industry, economists often use the productivity as a measure.  Discuss the differences and properties of various productivity measures such as average productivity, marginal productivity, and etc.   Give some real-world examples of these productivity measures for different industries.  Discuss the productivity in the firm or industry you are working.