(2) T/F/U. If we want to decrease gun violence, we should raise the costs of owning guns-i.e. higherprices for guns, more requirements to own them, and increase law enforcement. If your answertrue, explain why gun controls will not concede the same results as the drug war or prohibition.If your answer is false, explain why increasing gun controls will likely lead to more dangerousoutcomes. Also describe how you might actually decrease gun violence. Draw (2) equilibriumdiagrams and reference relative elasticities of the types of individuals that own guns (i.e.recreational users and criminals) in your answer.

Demand is the willingness to goods and services purchased in the economy at the prevailing market…

(2) T/F/U. If we want to decrease gun violence, we should raise the costs of owning guns-i.e. higher prices for guns, more requirements to own them, and increase law enforcement. If your answer true, explain why gun controls will no concede the same results as the drug war or prohibition. your answer is false, explain why increasing gun controls will likely lead to more dangerous outcomes. Also describe how you might actually decrease gun violence. Draw (2) equilibrium diagrams and reference relative elasticities of the types of individuals that own guns (i.e. recreational users and criminals) in your answer. If

(2) T/F/U. If we want to decrease gun violence, we should raise the costs of owning guns-i.e. higher prices for guns, more requirements to own them, and increase law enforcement. If your answer true, explain why gun controls will no concede the same results as the drug war or prohibition. your answer is false, explain why increasing gun controls will likely lead to more dangerous outcomes. Also describe how you might actually decrease gun violence. Draw (2) equilibrium diagrams and reference relative elasticities of the types of individuals that own guns (i.e. recreational users and criminals) in your answer. If

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter33: International Trade

Section: Chapter Questions

Problem 3SCQ: In France it takes one worker to produce one sweater, and one worker to produce one bottle of wine....

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P1. Let’s assume there are only 2 countries that produce 2 good. More specifically, suppose that the United States (US) and the United Kingdom (UK) each have 2 units of productive resources, 1 used to produce Wine, the other Cloth. The US can produce 40 units of Wine with 1 unit of productive resources and 40 units of Cloth with 1 unit of productive resources. The UK can produce 20 units of Wine with 1 unit of productive resources and 10 units of cloth with 1 unit of productive resources. Using this information, please answer the questions below: 1. What are the gains from trade? 2. What is the “range” of potential exchange rates between US and UK?
P1. Let’s assume there are only 2 countries that produce 2 good. More specifically, suppose that the United States (US) and the United Kingdom (UK) each have 2 units of productive resources, 1 used to produce Wine, the other Cloth. The US can produce 40 units of Wine with 1 unit of productive resources and 40 units of Cloth with 1 unit of productive resources. The UK can produce 20 units of Wine with 1 unit of productive resources and 10 units of cloth with 1 unit of productive resources. Using this information, please answer the questions below: *Who has an absolute advantage in the production of Wine? Cloth? *Who has a comparative advantage in the production of Wine? Cloth? *Given specialization, what is production before trade? After trade? *What are the gains from trade? *What is the “range” of potential exchange rates between US and UK? P2. Suppose that in Japan, without a tariff 10,000 cars will be sold per year at an equilibrium price of $20,000. With a $5,000 tariff,…
3. Voluntary contributions toward a public good Sean and Bob are considering contributing toward the creation of a water fountain. Each can choose whether to contribute $300 to the water fountain or to keep that $300 for a weekend getaway. Since a water fountain is a public good, both Sean and Bob will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.90 of benefit. For example, if both Sean and Bob choose to contribute, then a total of $600 would be contributed to the water fountain. So, Sean and Bob would each receive $540 of benefit from the water fountain, and their combined benefit would be $1,080. This is shown in the upper left cell of the first table. Since a weekend getaway is a private good, if Sean chooses to spend $300 on a weekend getaway, Sean would get $300 of benefit from the weekend getaway and Bob wouldn't receive any benefit from Sean's choice. If Sean still spends…
How can there be any economic gains for a country from both importing and exporting the same good, like cars?
Is it possible to have a comparative advantage in the production of a good but not to have an absolute advantage? Explain.
In France it takes one worker to produce one sweater, and one worker to produce one bottle of wine. In Tunisia it takes two workers to produce one sweater, and three workers to produce one bottle of wine. Who has the absolute advantage in production of sweaters? Who has the absolute advantage in the production of wine? How can you tell?
3. Voluntary contributions toward a public goodLarry and Raphael are considering contributing toward the creation of a public park. Each can choose whether to contribute $400 to the public park or to keep that $400 for a new suit.Since a public park is a public good, both Larry and Raphael will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.80 of benefit. For example, if both Larry and Raphael choose to contribute, then a total of $800 would be contributed to the public park. So, Larry and Raphael would each receive $640 of benefit from the public park, and their combined benefit would be $1,280. This is shown in the upper left cell of the first table.Since a new suit is a private good, if Larry chooses to spend $400 on a new suit, Larry would get $400 of benefit from the new suit and Raphael wouldn't receive any benefit from Larry's choice. If Larry still spends $400 on a new suit and…
Good morning, could you please help me to answer the following question:Thank you very much in advanceWhat are the social, economic, environmental and ecological impact factors of the use and production of plastic bags?What have been the most important international policies to reduce the production and consumption of plastic bags?
4. Answer both questions 2. Suppose a particular stretch of river can be used to build a hydropower dam that generates Q Kilowatt-hours (MWh) of electricity. The electricity price is 1.44 per Kilowatt-hour. The opportunity cost of producing power is C = $0.0007 x Q2 per hour. The opportunity cost of the dam is due to the foregone net benefit that would have resulted from recreation activity related to the river. What is the net benefit of the dam if the dam has optimal size? 3. Assume that the society should decide on how to allocate 24 units of depletable resource between two periods (period 1 and period 2). Benefit and cost of extracting qi units of depletable resource in period i = 1,2 are Bi = 127qi – 2qi2 and Ci = 17qi respectively. How much should the society extract in period 1 if the discount rate is 2%?
Grapes 200 Grapes 200 California 50 France 25 Tomatoes Tomatoes 4 Refer to the figure shown, which represents the production possibilities frontiers for California and France. Considering the production possibilities frontiers of both countries, we can infer that California should specialize in producing ........ and be willing to ......... five tomatoes for each grape.
"Population, Resources, and the Environment Much of the concern over environmental issues stems from the perception that we may reach a limit to the number of people whose needs can be met by the earth’s finite resources. We may or may not reach this point, given the potential for new technological discoveries, but it is clear that continuing on our present path of accelerating environmental degradation would severely compromise the ability of present and future generations to meet their needs. A slowing of population growth rates would help ease the intensification of many environmental problems. However, the rate and timing of fertility declines, and thus the eventual size of world population, will largely depend on the commitment of governments to creating economic and institutional conditions that are conducive to limiting fertility." What is the meaning of this statement?
Beth and Eleanor are considering contributing toward the creation of a building mural. Each can choose whether to contribute $400 to the building mural or to keep that $400 for a weekend getaway. Since a building mural is a public good, both Beth and Eleanor will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of them $0.60 of benefit. For example, if both Beth and Eleanor choose to contribute, then a total of $800 would be contributed to the building mural. So, Beth and Eleanor would each receive $480 of benefit from the building mural, and their combined benefit would be $960. This is shown in the upper left cell of the first table. Since a weekend getaway is a private good, if Beth chooses to spend $400 on a weekend getaway, Beth would get $400 of benefit from the weekend getaway and Eleanor wouldn't receive any benefit from Beth's choice. If Beth still spends $400 on a weekend getaway and…