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Q1. State two economic principles of taxation and which principle best justifies the excise tax on gasoline, when the tax revenue is used to maintain or improve the roads? Which principle best justifies the progressive U.S. taxation profits of corporate? Clarify.
Q2. 1) "Unemployment is more important problem than price increases". This kind of statement is normative or positive?2) You are given a choice between two movie passes, dinner at a Red Lobster and a new book. What is your opportunity cost? Explain.
Suppose production price is 20. The firm views that price as beyond its control.
In economic terms, when the wage rate increases we sometimes see the number of hours worked by individuals decrease now.
How much is the uniform annual revenue in years 2 through 5 to achieve economic equivalence if the company decides to use MARR.
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Discuss the importance of a well-developed compensation plan in attracting as well as retaining good employees as well as how to keep those plans from "working too well."
The opportunity cost of Juan's time is $8 per hour. If Juan receives $2 per pound for his fish, what is the optimal number of hours he should spend fishing.
As a business owner making a final decision regarding the international aspects of a business decision, you may decide to set up a table with the risks and weigh their relative importance against the rate of return you foresee
The short-run and long-run effects of this change for the levels of per-capita output, and the growth rates of (total) output and per-capita output.
Will there be significant progress on the poverty front, because of an increase in GDP.
Suppose that the demand for orange increases. Carefully explain how the rationing function of price will restore market equilibrium.
You are using a sample size of 15 for your charting purposes. Which of the following is the upper control limit D4 factor for the chart.
In late 2006 and early 2007, orange crops in Florida were smaller than expected, and the crop in California was put in a deep freeze by an Arctic cold front.
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