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1) Can the Federal Government discriminate among states when setting tax rates? What document provides the answer to this question? (As an example of the previous point, include at the end of this question the Federal tax on a gallon of gasoline)
2) Explain the main characteristics of the libertarian ideology. Do they have an Organic or Mechanistic view of government?
3) Several years ago, New York City introduced a ban on large soda drinks with the objective of reducing obesity (the ban was later declared unconstitutional). Explain concisely how somebody with an Mechanistic view of Government would react to this ban in contrast with somebody a Mechanistic view.
4) Explain concisely what a natural experiment is and its main benefit compared to using observational data in empirical economics.
Which of the following is NOT a characteristic of a perfectly competitive market? Recall the Application called "Wireless Women in Pakistan." What makes the wireless telephone market in the US NOT perfectly competitive? Recall the Application called ..
Suppose it takes New England two hours to produce a bushel of corn and six hours to produce a bushel of wheat. What is New England's opportunity cost of producing a bushels of corn?
It takes Melissa eight hours to produce a bushel of corn and two hours to wash and polish a car. It takes Greg six hours to produce a bushel of corn and one hour to wash and polish a car. Therefore: Question 2 options: Greg has a comparative advantag..
Venezuela had considerable capital outflows after election of Hugo Chavez. If Venezuela had fixed exchange rates, determine what effect would these flows have had on Venezuela's overall balance and value of the Bolivar
Budweiser, Miller and Coors, who together produce 80% of all beer consumed in the US, each spend well over $500 million a year on television advertising campaigns, promoting their beer brands. Do you think these firms would welcome congressional legi..
Many people believe trade deficits are a serious problem and need to be eliminated. Explain the three actions the Fed could take to reduce the trade deficit in the U.S., and explain carefully how these actions would result in a reduced trade deficit.
An increase in the rent of two bedroom apartments in Austin is likely to:
q1. a hearing is scheduled for your company to present arguments that your firm has not increased its market power
The Errata Book Company is a firm that sells its book to two types of consumers, type 1 and type 2. The marginal revenue Errata gets from type 1 consumers is: MR1 = 20 - 2Q1, and the marginal revenue Errata gets from type 2 consumers is: MR2 = 15 - 3..
What are your opportunity costs of water and dates? What are Mohammed’s opportunity costs of water and dates?Who has an absolute advantage in dates and water production and who has a comparative advantage in dates and water production? How many dates..
Describe the goals of the factory owners? Describe the goals of the employees? Describe the problem caused by the scarcity. What is the price of a life.
You make monthly deposits of $300 into an account that pays 3% per year. How much larger would the balance be after 4 years if interest is compounded continuously compared to monthly? Express your answer in $ to the nearest $0.10.
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