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Economists usually do not favor subsidies on specific products or in-kind payments to help low income people. This is because
A. in-kind payments suggest that the poor person does not have an indifference curve pattern from which to make choices.
B. a subsidy means that the recipient does not face a budget line anymore and therefore can not maximize his welfare efficiently.
C. the poor person could have increased utility if the same money used to subsidize a product would be given to them to use as they choose.
D. economists are individualists who believe that helping the needy makes them dependent.
Consider a market with a demand curve of P=10-Q and a supply curve of P=Q. Before the imposition of a tax, equilibrium quantity is 5, and equilibrium price is $5 (verify this). If a tax of $5 per unit is placed on this market, quantity traded falls t..
The manufacturer of Brand A automobile tires claims that its tire can save 110 gallons of fuel over 55,000 miles of driving, as compared to a popular competitor (brand B). If gasoline costs $4.00 per gallon, how much per mile driven does this tire sa..
Is the industry or industries in which the firm operates conducive to abnormally high rates of return.
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Suppose the two states decide that they want to produce 590 units of wheat together (not 590 units of wheat each). What is the maximum amount of cotton that they could produce?
Explain how the raising of short-term interest rates would affect all of the following in the United States: the inflation rate, the unemployment rate, the value of the U.S. dollar, net exports, and U.S. stock markets. Include at least one well-label..
Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis? What is the difference between shutting ..
Participate in a discussion with your classmates regarding how monetary policies affect our lives. Utilizing the knowledge that you have accumulated during our course, and by reading or watching the current news, determine the monetary policy issues ..
Is HSBC Global Corporation, Multi Domestic Corporation or borderless organization for its business in Japan? While HSBC claims that it is the world’s local bank, can it become a local bank in Japan? What should HSBC have done before they considered a..
Illustrate what did society gain from having brand name chicken. Illustrate what did society lose.
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