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Author Question: The definition of economic growth is the annual percentage A) increase in the per capita real ... (Read 69 times)

imowrer

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on: Jun 29, 2018
The definition of economic growth is the annual percentage
 
  A) increase in the per capita real GDP.
  B) increase in the per capita nominal GDP.
  C) increase in the total nominal GDP.
  D) increase in total exports.

Question 2

What is an effluent fee? Graphically, show how an effluent fee can correct an externality.
 
  What will be an ideal response?


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lou

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

An effluent fee is a charge to a polluter that gives the right to discharge into the air or water a certain amount of pollution. In the above figure, the market solution is point E, with price of P1 and output of Q1. The external cost of the pollution is equal to the distance FE, so an effluent fee equal to FE causes the firms to produce fewer units. The optimum is at E, with price of P, and output of Q.


imowrer

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Reply #2 on: Jun 29, 2018
Thank you


lou

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Reply #3 on: Jun 29, 2018
No problemo


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