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Say that Centerville currently collects $50 million in business property taxes. There are 30,000 employees in Centerville, each making about $35,000 per year. Residents of Centerville pay property taxes equal to about 3% of their annual income. The town is considering reducing business property taxes by 10%.
a) What will be the Centerville change in business property taxes?
b) According to Bartik, a reduction of business property tax rates by 10% can be expected to permanently increase employment in Centerville by how many workers?
c) What will the increase in residential property tax revenues do to the increase in employment in Centerville? Does the business tax deduction “pay for itself?”
The law of demand implies that when the price of a good rises, people buy less of it. This makes the demand curve slope monotonically downwards. A textbook exception is the so-called Giffen good that by definition behaves in the opposite way.
Assume that a competitive market has an upward-sloping supply curve and a downwardsloping demand curve, both of which are linear. A tax of $0.10 per unit is currently imposed in the market. Suppose that with the tax the equilibrium quantity is 70,000..
The following is a quote from a news article: "If a company makes product donations to the school- computers for instance - then the image of a. company goes up as graduate students use the company's products." Does such action consistent with a comp..
What is the marginal revenue of a firm that sells a product at the price of $15 and the price elasticity of demand for the product is -2? What is the price elasticity of demand of a firm that sells a product for $20 and marginal revenue is $12?
Worker productivity is one of the most important factors that helps us determine the performance of an economy. Which of the following best describes productivity?
The Green City Hospital treated 100 patients in May with 20 nursing hour inputs, and it treated 120 patients in June with 22 nursing hour inputs. What is the total product for each month? What is the marginal product?
q. 1. why indifference curves are downward sloping?2. why indifference curves are flatter whenever moving to the
The number of days' sales in inventory. Round to nearest dollar and one decimal place. Illustrate what conclusions can be drawn from these data concerning the inventories.
What are the major economic justifications for state intervention used by mercantilists? What are the major types of problems with state intervention as they pertain to international political economy?
Based on recent research, which of the following is the most likely cause of the reduction in the rate of technological progress?
Think about all the economic data that are reported in the news every day. The information from all of them may be relevant, but does a policymaker really need to know any more about the state of the economy than the level of output and the inflation..
The famous Swedish economist Assar Lindbeck remarked in his book on rent controls, “rent control appears to be the most efficient technique presently known to destroy a city-except ofr bombing”. Why would Professor Lindbeck think rent controls are de..
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