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A. Why do governments raise taxes on cigarettes and alcohol to raise government revenues?
B- What changes do you make to your demand for gasoline when the prices start to climb up?
C- Would you want to own a business that sells price-elastic products or price-inelastic products? Why?
D. Let us say the price of widgets is $1.00. At this price, consumers demand 10 widgets. Now the widget seller increases the price to $1.50. At this new higher price, quantity demanded falls to 9 widgets. Are widgets elastic or inelastic? Please show your work.
Assume that the treasury is currently running large surpluses (tax collections exceed new government spending). On a S/D diagram show the effect on Treasury Bond markets of using these surpluses to buy back outstanding treasury securities.
assume that the current level of income in the economy is 700 billion. it is determined that in order to reduce the
A. Explain why the consequences of unanticipated inflation are worse than anticipated inflation B. Discuss the consequences of deflation on the economy. Do deflation can be good, yes no, explain why
each month the u.s. bureau of labor statistics publishes a variety of unemployment statistics including the number of
Suppose that the market for some product has a linear downward?sloping demand curve and a linear upward sloping supply curve. Then suppose that the price of a substitute good increases and the price of an input to production also increases.
Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot?
show that for an inferior good the demand curve for marshall is steeper than the hicksian demand and show the
Write in words (or in mathematical symbols) the formula for the coefficient of price elasticity of demand. What are the numbers or ranges of numbers that correspond to (1) perfectly elastic demand; (2) elastic demand? Give a realistic example o..
a. What are your views regarding economic forecasting? In particular, share any experiences you may have had with business forecasts for company budgets. b. Discuss some of the important criticisms of the forecasting.
What is the probability that the employer will hire a high skilled worker?
Solve the utility maximization problem for a consumer
Suppose the production function is given by Q= 5K + 6L. What is the average product of labor when 8 units of capital and 10 units of labor are employed?
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