Environmental Scenarios and
Solutions
First Midterm (Take Home)
Exam
Professor Womersley
(Worth
15% of final grade)
Due
Friday October 2nd by email or hard copy.
Instructions
Answer
both questions. If you don’t know an answer, put down what you do know.
You
may research answers. Give diagrams if needed. Cite important research other
than material given in class or in the texts for the class. You must work
alone.
1. Microeconomic
applications
You are a staffer
working for New Vermaineshire state government in the Fish and Wildlife Division.
You are asked to prepare an analysis of a proposal in the legislature to
regulate moose permits using an online bidding system (similar to eBay) instead
of the existing lottery. The same number of permits will be issued, only via
open bidding. The only requirement to bid is that the bidder be a US resident
and have taken a hunter safety course.
Specify in plain English,
using diagrams if necessary, the effects on state revenue, on the price of
permits, and which sections of the public will be either winners or losers as a
result. State whether or not, in your own opinion as an experienced staffer,
this policy is likely to be successful, reasoning from the available evidence
and what you know of the local culture.
2. Macroeconomic
applications
If the state of New Vermaineshire chooses
to implement the above policy, what would be the general macroeconomic effects
to the state’s economy? List and detail these. Use diagrams if necessary.
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