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Economists usually do not favor subsidies on specific products or in-kind payments to help low income people. This is because
A. in-kind payments suggest that the poor person does not have an indifference curve pattern from which to make choices.
B. a subsidy means that the recipient does not face a budget line anymore and therefore can not maximize his welfare efficiently.
C. the poor person could have increased utility if the same money used to subsidize a product would be given to them to use as they choose.
D. economists are individualists who believe that helping the needy makes them dependent.
According to Keynesian theory when should expansionary fiscal policy be used? How does this change GDP, unemployment and the price level?
A firm sells its product in a perfectly competitive market where or firms charge a price of $80 per unit. Illustrate what price should firm charge in short run.
One day you arrive to discover that the coffee shop has changed its name to Five bucks and is now charging $5 per cup.
Explain what the income eect is. You may use plain English or use an illustrative example. However, you must convince me you know what it is without copying a denition. Repeat the above for the substitution eect.
A company manufactures radios. If x is the number of radios that retailers are likely to purchase. Elucidate the revenue function of the manufacturing company.
Mr. Smith has saved $1800 each year for 20 years. A year after the saving period ended, Mr. Smith withdrew $7500 each year for a period of 5 years. In the sixth and seventh years, he only withdrew $5000 per year. In the eighth year, he decided to wit..
Besides raising taxes and issuing debt, the U.S. government (Treasury Department) can also secure funds by borrowing directly from the FED. What is the potential danger of this route? What are the implications for investors and for public policy of e..
Compute and indicate in diagram the level of domestic consumption, domestic production and imports of commodity Y at free trade price.
Some countries have fixed exchange rate systems instead of flexible exchange rate systems. Which of the following is a reason why fixed exchange rate systems have limited abilities to use monetary policy?
Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity?
Calculate the total fixed costs, total variable costs, average fixed costs, average variable costs, average total costs, as well as marginal costs.
To enrich an experience, we can pay attention to what ways an experience is new to you, such as previously overlooked nuances in gratitude. According to Hansen, being able to access a positive mental state is NOT essential for well being and coping.
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