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What is public finance?
A. Explain the philosophy of public finance.b. Contrast governmental accounting with nongovernmental accounting.c. Explain the relationship between budgeting and financial reporting in government.
Illustrate percent have prices increased over the past thirty years. What average annual inflation rate would have resulted in this answer.
Suppose you're an economic advisor in charge of trying to raise a maximum level of tax revenue for the government. You consider taxing the suppliers in the market for corn, a major agricultural product in the United States.
You will be asked to collect five (5) newspaper articles relating to subjects we are covering in the class. As we cover the various chapters you should be actively searching newspapers/magazines to find articles.
Define the following in three senctence minimum definition.
How much does it choose to sell when it enters the market? What is the resultant market price? How much does each of the two firms earn in profits?
Ilucidate the estimated demand for the company's product. Determine the point cross price elasticity.
Elucidate the historical relationship between unemployment and inflation.
Budweiser, Miller and Coors who together produce 80% of all beer consumed in the US, each spend well over $250 million a year on television advertising campaigns, promoting their beer brands.
Explain how the Central Bank can set the nominal interest rate in the money market. In addition, explain how it can use expansionary monetary policy to boost GDP if the economy is in a recession.
Describe the effects a 15 percent price increase would have on the demand for the product.
What was the growth rate of nominal GDP between 1999 and 2000? (Note the growth rate is the percentage change from one period to the next).
Explain why user cost, or scarcity rent, arises in the intertemporal allocation of a depletable resource such as minerals, and some types of energy and aquifer water resources.
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