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Q. 1. Last year President Obama proposed a job creation program that included a payroll tax cut? Using economic theory and with the help of a graph discuss what is the likely effect of this tax cut on wages, employment and tax revenues. What determines whether employers or employees will benefit the most from this tax cut?
2. The demand curve for gardeners is GD = 19 - W, where G = the number of gardeners and W = the hourly wage. The supply curve is GS = 4 + 2W.
a. Graph the demand curve and the supply curve. What is the equilibrium wage and equilibrium number of gardeners hired?
b. Suppose the town government imposes a $2 per hour tax in all gardeners. Indicate the effect of the tax on the market for gardeners. What is the effect on the equilibrium wage and the equilibrium number of gardeners hired? Explain Explain how much does the gardener receive?
Explain how much does the customer pay? Explain how much does the government receive as tax revenue?
Assume in this market all apartments are identical, so there is only one equilibrium rent. Show the rent as $800 per month.
The cause and effect on how and why there was a government shut down a month ago.
At what level of output are total profit maximized. Illustrate what price will be charged.
Elucidate the marginal revenue from the fourth worker
The national economy has been in a slump for several years, but recent signs of strength in much of the economy have led many forecasters to conclude that an expansion could finally be in the offing.
Consider a small economy in which consumers buy only two goods pies and tarts. In order to compute the consumer price index for this economy for two or more consecutive years.
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
Bud has very limited store space and has decided to limit his product line to one brand of beer, choosing to forego the snack food lines that normally accompany his business.
What is M1 in Iron mania. What is M2 in Iron mania.
Provide a rational for why you feel the new target market and pricing strategy would be successful and the likely impact to the profitability of the firm.
How do the buyer's returns compare with the method of payment, and how do they compare with single versus multiple bidders.
The Road Runner Club contributes money to Senator Sly's reelection campaign fund, and Senator Sly helps pass legislation to add more jogging paths across the state
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