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As you may be aware, most Sports Stadiums or Event Arenas – which are constructed using tax dollars. The Cardinals stadium was financed using a sales tax on Rental Cars and Hotel Rooms. Are these facilities Public Goods or Private Goods? Explain why?
What would happen to GDP if the government hired unemployed workers, who had been amount $TR ain unemployment benefits, as government employees and now paid them $TR to do nothing? Explain.
The AD/AS model describes changes in the economy by relating real GDP (output) and the price level. Compare and contrast the Keynesian portion of the AD/AS model with the classical portion of the AD/AS model, and explain how the level of production i..
A risk-neutral consumer is deciding whether to purchase a homogeneous product from one of two firms. One firm produces an unreliable product and the other a reliable product. At the time of the sale, the consumer is unable to distinguish between the ..
In the Castorian Airline market there are only two firms. Each firm is deciding whether to offer a frequent flyer program.
q.suppose that the supply curve of healthcare ser-vices is perfectly inelastic i.e. vertical. analyze the impact of an
IM’s utility function can be expressed as u(x, y) =?1/X + y and his monthly income is 10 DOLLAR. Given that price for X is P won and Y is 1 DOLLAR, Calculates the X point price elasticity of demand.
In 2010, 60% of the population in the U.S. was of working age. In 2025, 56% of the U.S. population is expected to be of working age. Calculate the effect of this change in demographics on the annual growth rate of the GDP per capita if the GDP per wo..
Assume that a perfectly competitive, constant cost industry is in a long run equilibrium with 20 firms. Each firm is producing 70 units of output which it sells at the price of $18 per unit; out of this amount each firm is paying $2 tax per unit of t..
In the framework of an oligopoly, what strategy can work like a silent form of cooperation?
"Because of unusually good growing conditions, the supply of strawberries has substantially increased." This statement indicates that:
A consumer consumes 2 goods (X and Y) and has convex indifference curves for the two goods. In period 1 the price of each good is 2 and the consumer’s income is 8. In period 2 income and the price of Y are constant, but the price of X declines to 1. ..
How could union members' current annual incomes decline on net even if a long-lived strike induces a firm's management to increase the hourly wage rate? Sometimes union memberships coordinate work stoppages when all workers call in sick. From an econ..
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