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President Alcazar announced an increase in the labor subsidy given to firms to try to boost employment and GDP. The subsidies received by a firm are in proportion to the number of workers it employs, that is equal to s N, where s is the subsidy rate and N the number of workers employed. The government pays subsidies to firms, whose post-subsidy profits are distributed to households as income. However, the subsidies are financed by a lump-sum tax on households. The lump-sum tax is such that the government budget is balanced. Show that, for any given level of real wages, the net direct effect of this policy, subsidies and corresponding lump-sum taxes, on household’s disposable income is negative.
Assume that these college payments will be made at the beginning of each school year. The future general inflation rate is estimated to be 4% per year, and the annual inflation-free interest rate is 5%. What is the equal amount, in actual dollars, Je..
The chance of someone in the family getting sick over the relevant time period is 20%. What is the expected value of V over the vacation?
Assume that you have an app on your smart phone that allows you to walk up to any item in the supermarket, have your phone recognize it, and then display all the necessary information about the product. Imagine that the app even tells you where and h..
The Blue Dragon Restaurant is a new Chinese Restaurant in town. As the only Chinese restaurant in the area, it faces the following daily demand curve: Determine the profit-maximizing price of each meal assuming The Blue Dragon is behaving as a monopo..
Average tax rate is a. total taxes paid divided by total income b. measures the sacrifice a taxpayer makes c. measures the incentive effects of taxes on work effort, saving, etc. d. Both a and b. e. All of the above.
Explain why their contrasting views on the shape of the aggregate supply curve lead some economists to argue much more strongly for stabilization policies to fight unemployment and other economists to argue much more strongly for stabilization polici..
Consider the Solow Growth Model with technology given by Y = zF(K, N) = zK^(1/2)N^(1/2) , savings rate= 0.2, and depreciation rate=0.1. Both population growth and technological growth are 0. (Note: lower case letters denote per capita variables e.g. ..
According to the rational expectations hypothesis, unemployment
q1. illustrate what are the key determinants of spectrum healthcare resources fixed cost and variable cost in
Consider the allocation of a delectable resource over two periods. There are Qbar=4 units of the stock available. The total benefits derived from using the resource are defined as TBt= 20qt- (1/2qt^2) and the total cost of extracting the resource is ..
Praxilla, who lived in ancient Greece, derives utility from reading poems and from eating cucumbers. Praxilla gets 30 units of marginal utility from her first poem 27 units of marginal utility from her second poem, 24 units of marginal utility from h..
When the Bank of Canada's foreign exchange traders go into the market to support the Canadian dollar, they trade US dollars from Canada's reserves for Canadian dollars that other people are trying to sell. The Canadian cash resulting from this transa..
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