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In a monopoly market if the people want to get the most benefit from the surplus that has been created by the market, what government can do to protect the benefit of the people?
Susan quit her job as a teacher, which paid her $36,000 per year in order to start her own catering business. She spent $12,000 of her savings, which had been earning 10% interest per year, on equipment for her business. She also borrowed $12,000 fro..
Concert tickets to see Adele have increased from 100$ to 150$.
Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. What is the size of the labor force..
Using a supply and demand diagram and a "tax wedge," show whether the buyers or the sellers will bear the bigger burden of a soda tax. Please actualy draw the supply and demand diagram for a full rating!
Assume that a consumer has the utility function U(x,y) = 3x+y, where x and y represent the quantities of two goods, X and Y. The consumer has I=$60 to spend on the two goods, and good Y costs py=$2 per unit. The price of good x, px, is also exogenous..
The social security system levies a tax on workers and pays benefits to the elderly. Suppose that Congress increases both the tax and benefit.
The following figure plots the average farm prices of potatoes in the United States for the years 1989 to 1998 versus the annual per capita consumption. Each point represents the price and quantity data for a given year. Explain whether simply drawin..
The single most important health policy choice in the United States over the past four decades has noting. What evidence can you cite to support your position?
Give two examples of externalities connected with consumption and saving that can be used in arguing for policies aimed at increasing U.S. personal saving. Explain why they can be used that way. Explain what a traditional I.R.A. is. Explain how it in..
What would happen if no one tried to manage the business cycle? What role do you see for the Executive Branch of the U.S. government in managing the business cycle?
General Cereals is using a regression model to estimate the demand for Tweetie Sweeties, a whistle-shaped, sugar-coated breakfast cereal for children. The following (multiplicative exponential) demand function is being used: Determine the point price..
The FRS was established as an independent agency, removed from partisan politics by virtue of its ability to act without seeking presidential or legislative consent. Some argue this independence has the potential to result in rogue actions that may o..
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