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If citizens were to decide that in the long run, federal expenditures should be 28 percent of national income, what must be the required overall average federal tax rate? (Please answer this in as much detail as possible, I am having a really hard time with this subject)
What appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy?
Explain how much extra surplus does the producer capture when it engages in first-degree price discrimination instead of charging a single price.
Describe economics and Describe the economic perspective, including definitions of scarcity, opportunity cost, purposeful behavior.
Using a three-circle Venn Diagram, check the following categorical arguments for validity. Some advertisers try to create a new ideal state for consumers. Some advertisers try to create dissatisfaction with the consumer’s current state. So, some who ..
If the firms form a cartel to maximize industry profit, what is the industry marginal revenue at the profit-maximizing level of output?
Draw a graph that shows a market with inelastic demand and elastic supply at equilibrium. Then, on your graph, draw what happens when the government subsidizes buyers. Note the price received by sellers and price paid by buyers. Who receives most of ..
Suppose you have hired a new worker, unfortunately you do not know if the worker is a shirker or a hard worker. Suppose working hard raises the probability of making a sale from 40% to 80% (thus raises the probability of making a commission C by the ..
Why is each the policy necessary? The welfare of consumers, producers, and society (the winners and losers) before and after the policy
Why were the creation of the Interstate Commerce Commission (ICC) and passage of the Sherman Anti-trust Act of 1890 so important to the creation of a fair business climate?
Suppose the dollar interest rate and the pound sterling interest rate are the same 5 percent per year. What is the relation between the currency equilibrium $/£ exchange rate and its expected future level?
A firm’s production function is given by: f(L,k) = L^1/2 , where L is the only input into production and it is variable in both the short and long run. Draw the long-run conditional labor demand in (L,Q) space (in other words, with L on the x-axis)
A newspaper article once reported that U.S. economy was experiencing a low rate of inflation. Why does inflation affect increase in Social Security and or profits.
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