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1). A poor person who has an income of $1,000 receives $100 worth of food stamps. Draw the budget constraint if the food stamp recipient can sell these coupons on the black market for less than their face value.
2). Under a welfare plan, poor people are given a lump sum payment of $L. If they accept this welfare payment, they must pay a high tax, t= 1/2, on anything they earn. If they don't have to pay a tax on their earnings. Show that whether an individual accepts welfare depends on the individual's tastes.
3). Suppose that Roy could choose how many hours to work at a wage of w and chose to work seven hours a day. The employer now offers him time-and-a-half wages (1.5w) for every hour he works beyond a minimum of eight hours per day. Show how his budget constraint changes. Will he choose to work more than seven hours a day?
Identify the extent of safety issues in Canadian hospital care. Describe strategies that might be put in place to improve safety?
Why does a business need to understand elasticity of demand and calculate the elasticity of demand between prices $6 to $8
What is her AFC per poster if she prints 1,000 posters - Karen runs a print shop that makes posters for large companies.
State the commodity in which each country has absolute advantage and identify the commodity of comparative advantage for each country
Trade Restrictions Effects on Exchange Rates. Suppose that the Japanese government relaxes its controls on imports through Japanese firm.
Why has the global capital market grown so rapidly recently? Do you expect it to continue to grow and what are the risks that might be associated with investing in the Global Capital Market?
David is horrified to see that the value of his favorite beverage has raised. Determine which of the following would unequivocally be responsible for this value raise?
How responsive to demand is each in the market period and describe what a manufacturer of each product might do in the short run to increase production.
The quantity of coffee demanded Qd depends on the price of coffee Pc and the price of tea Pt the quantity of coffee supplied Qs depends on the price of coffee Pc and the price of electricity P e .
Compute the Average cost, Marginal cost, Average Variable Cost and the output level at which Average Variable Cost is at a minimum.
A hotel owner, having heard that new hotels consider to open in area, says, We have too many hotels in this town already. Statistics show that vacancy rates average 20% on any given night.
Provide two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. What evidence of excess supply or excess demand can you cite in these examples?
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