Economics Question

Generally speaking, the inclusion of transportation costs in the total costs of production has the effect of causing the LRAC curve to:shift down.become steeper over the range on economies of scale.flatten out.shift up.

are annual values for M2 and for nominal GDP …

Here are annual values for M2 and for nominal GDP (all figures are in billions of dollars) for the mid-2000s.Year M2 Nominal GDP 2003 6,055.5 $10,960.8 2004 6,400.7 11,685.9 2005 6,659.7 12,421.9 2006 7,012.3 13,178.4 2007 7,404.3 13,807.5Compute the velocity for each year. Compute the fraction of nominal GDP that was being held as money.What is your conclusion about the stability of velocity in this five-year period?

July 5, 1884, Dudley, Stephens, and Brooks – …

On July 5, 1884, Dudley, Stephens, and Brooks – “all able-bodied English seamen” – and a teenage English boy were cast adrift in a lifeboat following a storm at sea. They had no water with them in the boat, and all they had for sustenance were two one-pound tins of turnips.On July 24, Dudley proposed that one of the four in the lifeboat be sacrificed to save the others. Stephens agreed with Dudley, but Brooks refused to consent and the boy was never asked for his opinion. On July 25, Dudley killed the boy, and the three men fed on the boy’s body and blood. Four days later, a passing vessel rescued the men. They were taken to England and tried for the murder of the boy. If the men had not fed on the boy’s body, they would probably have died of starvation within the four day period. The boy, who was in a much weaker condition, would likely have died before the rest.The basic question in this case is whether the survivors should be subject to penalties under English criminal law, given their unusual circumstances. Were the defendant’s actions necessary but unethical? (Explain your reasoning).What ethical issues are involved here?Base your response on one of the four schools of jurisprudential thought from the chapter. (If you don’t have your text, you can use the lecture notes for chapter 1 and you can do an online search for them.) And remember it should be at least 2 or 3 paragraphs.