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Down and Out ("Down and Out in Paris and London" by George Orwell) are a nice couple with nice manners but they've got no money at all ("Nice People", a famous English song of Flanagan and Allen from the Great Depression). They both receive welfare checks of $500 a month, which they can spend on housing and other goods. Each unit of housing costs $1 in the free market, as does each unit of other goods. Down and Out are eligible to receive a public housing unit, which provides them with an apartment that would cost them $1000 per month in the free market at a rent of $500 per month. Draw their budget set (the combination of housing and other goods that they can afford) in housing-other goods space. (Thus, housing is on the x-axis and other goods are on the y-axis).
Recently, the U.S. Supreme Court ruled that cities could have voucher programs that give money directly to parents, and the parents can then choose between competing schools: public and private. The idea for promoting such a ruling was to create comp..
Illustrate what the assignment should include. The bureau of labor statistics reported that in the second quarter of 2008 the working age population.
If L is increased by 2% with K unchanged, what is the resulting percentage change in output? Describe the nature of returns to scale for this production function.
A typical policy will pay the replacement cost of $2500 if the boat is a total loss.
The United States has an absolute advantage in making many goods, such as short-sleeve cotton golf shirts. Why do Cost a Rica and Bangladesh make these shirts and export them to the United States?
Given your understanding of bond markets, what signals is the the bond market sending in response to the downgrade. Is this problematic.
These 3 basic trade-offs include which goods or services are to be created, how to create them, also who gets them.
What is the point, based on the Equimarginal Rule, which has equal marginal benefit (or the closest) for the two purchases?
What are the economic arguments in favor of such licensing and regulation? What are the arguments against? If such licensing does occur, what is likely to happen to the number of estheticians that practice, the prices they charge and their average in..
Why might a company use an indirect cost discrimination scheme versus direct cost discrimination
Yet medicines with brand names that the man recognizes from TV commercials sell for more than the unadvertised versions. Elucidate in economic terms, this perplexing situation to the father.
the government limits the amount of land that can be devoted to tobacco production. Are these two programs at odds with the goal of reducing cigarette consumption
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