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Q1. Explain a voting pattern using the actual votes taken by at least 15 legislators in the U.S. Congress, a State Legislature, a City Council, or a County Commission on a contested issue one in which each side gets at least 20 percent of the total votes. Make sure that there often is more disagreement over the amendments to a bill than over the final bill. Avoid straight party-line votes.
Q2. A factory produces widgets. It currently produces 10,000 widgets per day, which it can sell for a total profit of $25,000 per day. The factory's operation creates smoke that affects nearby homeowners, causing respiratory ailments and similar problems. At the current level of operation, the damage is $10,000 per day. The efficient level of operations is 8,000 widgets per day. At this level, the factory would generate profits of $20,000 per day, but the damage to nearby homeowners would be reduced to $2,500 per day. If the factory were shut down, it would generate zero profits, but the damage to nearby homeowners would also be reduced to zero.
The government plans to rise state spending by $2bn in the next fiscal year.
Explain the paradox of why new cars usually lose a large fraction of their market value the moment they are driven from the showroom. Identify the economic principle that explains this paradox.
Repeat these calculations for the third, fourth, and fifth years, assuming that the Government taxes at a rate each year and has noninterest expenditures annually.
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
Suppose that the demand for healthcare services is perfectly inelastic while the supply curve is upward sloping. Analyze the impact.
Suppose that the only input used in the generation of solar energy is sunlight
Compute the equilibrium quantity and price and Calculate the consumer and producer surplus.
For each values for the MPC, determine the size of the simple spending multiplier and the total change in real GDP demanded following a $10 billion decrease.
Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues.
The market demand and supply function for VCR movie rentals are: QD= 10 - 0.04p and QS 3.8P = 4. Calculate the equilibrium quantity and price.
If you are near graduation and plan to start your new job in 3 weeks, how does the Bureau of labor statistics classify you? Unemployed, employed or notin labor force.
The government budget is balanced, with government purchases and taxes both fixed at $1,000. Net exports are $100.
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