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A. Suppose that the city of Cool currently levies a property tax for public safety at a rate of one percent of taxable value on a base of $10 million of taxable property. If the price elasticity of demand for public safety in Cool is -0.2, calculate and explain the expected effect of the grant on public safety spending, local public safety taxes, and tax rates in Cool.
B. Instead of this matching grant, suppose Cool receives a lump-sum grant of $55,000 that must be spent on public safety. If the total income of Cool residents is $22 million and the income elasticity of demand for public safety is 0.8, what is the expected effect of this grant on public safety spending and taxes?
There are two firms A and B located in different regions that produce an identical good at zero cost. Each region is inhabited by a single buyer interested in purchasing at most one unit of the good. The RP of each buyer for one unit of the good is $..
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units (qi = 20). What is the industry's long-run supp..
During hard times what should be done to encourage people to spend more so as to rise aggregate demand and invariably, create employment possibilities.
We can see that aid to Africa has increased significantly over the last 40 years and that incomes in Africa have stagnated. Explain why these two facts do not constitute proof that aid is not effective in increasing incomes in Africa.
The following data has been provided by your manufacturing department to estimate the standard cost of producing a particular product. What is your estimate of the cost to produce each unit? If you company wishes to make a 20% of the manufacturing co..
Analytical essay about "Why bother with theory in IPE? The essay should deal with a brief description and critical assessment of the four major theoretical perspectives discussed in class. What are "liberal" (also related to Keynesianism", "neolibera..
Suppose a wage increase from $19 to $21 an hour increases the number of job applicants from 50 to 64. What is the price elasticity of labor supply?
Assume that the job separation rate s is 0.01 (1%) per month and that the job finding rate f is 0.2 (20%) per month. What is the steady state unemployment rate for this economy? In the table from the previous scenario, how many periods does it take f..
Firm B has invested five years and $6 million in developing a new product. Even now, it is not clear whether the product can compete profitably in the market. Nonetheless, top management decides to commercialize it so that the development cost will n..
If the Federal Reserve increases the money supply, the rate of return on investment (increases/decreases) and the value of the domestic currency (increases/decreases)
Health officials have suggested that the spread of AIDS can be partly contained if more males use condoms.
Why is the use of the permits more efficient than the regulation requiring each firm to reduce pollution by one unit?
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