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1. Using your understanding of tax incidence explain why some states do not charge sales tax for basic foods.2. Explain how the elasticity of demand influences tax revenues?3. Define progressive, regressive and proportional taxes and give an example of each.
Illustrate percent have prices increased over the past thirty years. What average annual inflation rate would have resulted in this answer.
The data are available for output (Q) and Long Run Total Cost (LTC) for a firm. Using appropriate calculations determine the range of outputs over which the firm's technology exhibits Increasing, Decreasing or Constant Returns to Scale.
Illustrate are some of the clever strategies that landlords might use to create a black market.
How does the Federal Reserve increase or decrease the money supply and what might cause the Fed to change the supply?
Consumption per capita as a function of ? and s. e. Golden Rule consumption if ? = 10%. (Hint: Find the s that maximizes consumption)
Discuss how rapid inflation can undermine money's ability to perform each of the three functions.
Elucidate which of the following theories of expectations holds that individuals usa all information available in forming expectations.
Critically discuss that there is no satisfying theory that explains the behavior of firms in oligopoly markets. Which theories should I include in the analysis and give some examples relevant to these theories?
Describe the firms optimal advertising-to-sales ratio.
You are given the following information about the personal computer (PC) industry: Find the NRP and the ERP. Show all calculations and formulas.
Utilizing an appropriate diagram, show and explain briefly how a rise in the minimum wage could result in higher employment
Elucidate the fiscal policy also which factors limit its effect.
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