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1. Which of the following is a criterion for an ideal voting system, according to economist Kenneth Arrow?
All of these are considered essential to an ideal voting system.
Unanimity
Transitivity
No dictator
2. One of the primary aims of taxation is:
to increase government revenues.
All of these are primary goals of taxation.
to reduce the equilibrium quantity.
to alter the incentives of market participants.
Suppose the current equilibrium price of a quarter-pound hamburger is $5 and 10 million quarter-pound hamburgers are sold per month. After the federal government imposes a tax of $.50 per hamburger, the equilibrium price of hamburgers rises to $5.20 ..
In light of the externalities involved in the market for gasoline, how do the tax changes affect society's total welfare. Elucidate the effects on each individual component of total welfare.
As the number of explanatory variables in a regression increases, the R of the regression
If the economy conducts expansionary fiscal and monetary policy, explain how this will influence the AD/AS model? Also, explain the implications of this type of policy on the overall economy using the model?
Suppose the legislature enacts minimum wage legislation in order to provide workers with a "living wage.
Illustrate what will be the long run market equilibrium price also output. Elucidate how many mills of Illustrate what type - new or old - will survive.
Purrfect Pets Inc. is a small company that manufactures a variety of organic products for kittens and cats.A new product, a cat sofa, was created for the dual purpose of a scratching post and place for the cat to lounge. Discuss the arguments for eac..
Consider Solow's model when the production function is Y = 1000K0.3L0.7. The population growth rate is 2%, ? = 0.1 is the depreciation rate and s = 0.25 is the savings rate. Compute how much more output there is in this economy immediately thanks to ..
Elucidate how do the ratios Px*X/I also Py*Y/I change as income increases in this problem.
Graph and explain the US as the RCC(reserve currency-Issuing country) with a floating currency (the current period) and BOP(-). Show and explain why the Supply and Demand functions must be relabeled and explain the economic privileges and burdens the..
Globalization and technology developments have led to some significant changes in the global economy. Discuss the importance of such changes to the United States. What is the impact upon supply chains? Optional: Use your own company as an example
You observe a fellow nurse undressing an elderly woman and restraining her hands. The woman has been crying and yelling out for much of the night and is obviously confused. She leaves the woman naked on a stripped bed and walks out of the room, closi..
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