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Most people want taxes to be fair. Yet there are strong disagreements over what constitutes tax equity. Using an example and the concepts of equity. Which principle of tax equity-the benefit principle or the ability-to-pay principle-is in closest agreement with your personal idea of what is fair?
Calculate the long-run equilibrium values of r and P, assuming that the potentiallevel of output (Y*) is equal to 3500 monetary units.
Illustrate what objectives are pursued by members of the OPEC cartel. Discuss what actions they can take to achieve these objectives.
the firms such as monopolies or those under imperfect competition sell different or "differentiated" products. They have to select the price which suits them best, presumably ones which maximize profits.
If your nominal income rose by 5.3 percent and the price level rose by 3.8 percent in some year, by what percentage would your real income (approximately) increase If your nominal income rose by 2.8 percent and your real income rose by 1.1 percent..
Taxi fares in New York recently were increased by nearly 50%. Predict the effect on the price of taxicab medallions, the earnings of taxicab drivers and congestion in New York streets.
Explain how the factors determining resource demand differ from those determining product demand. Explain the meaning and significance of the fact that the demand for a resource is a derived demand. Why do resource demand curves slope downward
Suppose each cake costs the same to make, what is the average cost to produce a cake. Compute Alyssa's labor productivity ration in dollars per hour for each type of cake.
hat is your expected utility without insurance? Suppose you can buy insurance that will cover the medical expenses but not the foregone part of your salary. How much is an actuarially fair policy, and what is your expected utility if you buy it?
Assume that you are the chief economic advisor to the president of the U.S..
What particular terms used in the subject of Macroeconomics can you apply to the question It will be better if you would reference relevant pages from your textbook. Also it will be a bonus if you could demonstrate your research skills by providi..
Explain why does the US steel industry want a tariff on imported steel. Show the US steel market with and without a tariff, showing graphically why they will like a tariff.
Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )
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