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Suppose that the pre-tax price of gasoline is $1 per gallon. A tax of $0.50 is imposed and is paid by consumers to the government. What must the gross price of gasoline be after the tax so that the consumer tax burden is equal to the producer tax burden?
Which nation should specialize in which product. Explain how trading possibilities lines for each nation if actual terms of trade are 1 plum for 2 apples.
Describe the long-term trends in inequality in the United States using the available measures. What are possible explanations for these long-term trends.
q1. suppose that businesses buy a total of 170 billion of the four resources labor land capital and entrepreneurial
Illustrate what are the arguments for using real per capita GNI to compare living standards between countries.
Do you think there are lessons for American capitalism in Europe’s experience? Is it the other way around? Might both have things to learn? Do you think that the general acceptance of the market framework by Europe’s socialist parties signals an end ..
All the costs of exhibiting movies are fixed except for the $3.50 royalty payment you must make to the film distributor for each ticket sold. What price should you charge for movie tickets?
Write down the budget constraints when young also when old also the lifetime budget constraint for both types of consumers.
Propose how it can conclude the efficient levels of information in an organization to justify taking risk over uncertainty.
Once issued by the parent, It stays which way also all transfer benefits (tax breaks) are lost forever.
Explain how it is possible for one of two people in a two-good economy to have an absolute advantage in producing both goods, but trade can still benefit both people.
A large school of sharks is reportedly seen by beach-goers at the beaches of Melbourne.
Compare and contrast inflation and deflation. What are some of the damaging effects that each has on an economy.
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