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1) Can the Federal Government discriminate among states when setting tax rates? What document provides the answer to this question? (As an example of the previous point, include at the end of this question the Federal tax on a gallon of gasoline)
2) Explain the main characteristics of the libertarian ideology. Do they have an Organic or Mechanistic view of government?
3) Several years ago, New York City introduced a ban on large soda drinks with the objective of reducing obesity (the ban was later declared unconstitutional). Explain concisely how somebody with an Mechanistic view of Government would react to this ban in contrast with somebody a Mechanistic view.
4) Explain concisely what a natural experiment is and its main benefit compared to using observational data in empirical economics.
Suppose that after hurricane Irene, the average income in Cape Charles, Virginia decreased by 14%. In response to this change in income, suppose the demand for steak in Cape Charles decreased by 4%. What is the income elasticity of demand for steak?
Explain is it irrational for an individual to take the time to be completely rational in economic decision making.
part a instructionsread the followingbulldonaldson t. 1996 september. values in tension ethics away from home. harvard
Annual Work Hours = ? + ?*(Average Hourly Wage) + ? You gather data on US workers aged 22 to 55 from the Current Population Survey. You define the Average Hourly Wage as self-reported total annual labor income divided by self-reported total annual wo..
The possibility for gains of trade is due to the fact that different countries face different resources endowments, production costs and geographical locations. Interpret and expand with examples.
q.use the following hypothetical demand schedule for movies to do exercises 1-4.quantity demanded price elasticity100
q.suppose a firms production function is given by q l12k12. the marginal product of labor and the marginal product of
In 3-4 pages, discuss public interest, administrative responsibility and some of the recent ethical obligations confronting public administrators in their day to day decision making. Also examine the recent trend in privatizing government functions a..
Suppose the airline industry consists of two firms, A and B. These two firms engage in Cournot competition with each other over a certain route for which inverse demand is P(Q) = 1000 − Q with Q = qA + qB. Solve for the Cournot equilibrium price.
Some reject fiscal stimulus measures in all policy forms. Explain what the various limitations are to a successful fiscal stimulus. Be sure to consider the damaging activities and decisions of (a) private corporations, (b) commercial banks, and (c) w..
The income elasticity of demand for your firm’s product is estimated to be 0.75. A recent report in The Wall Street Journal says that national income is expected to decline by 3 percent this year. What should you do with your stock of inventories?
Suppose that the government is debating whether to spend $100 billion today to address climate change.
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