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Why, in a model with no production but two periods does an increase in current taxes (without a concurrent change in government spending) not affect consumption? Explain graphically how such a change effects savings. Suppose that the model also included foreign lenders who were willing to supply consumers with consumption today in return for con- sumption tomorrow at the initial equilibrium interest rate. How would the results of the model change? Suppose that government spending increased in this last version of the model and the gross interest rate is given by the product of a discount factor and the MRS between con- sumption today and consumption tomorrow. How would the model likely change in terms of consumption and interest rates? Suppose there was production today, but not tomorrow, what would likely happen to output today?
Suppose that, in an attempt to entice citizens to conserve energy, the government enacted regulations requiring that all air conditioners be more efficient in their use of electricity. After this regulation was implemented, government officials were ..
Suppose that the U.S. government decides to charge wine producers a tax. Before the tax, 20,000 bottles of wine were sold every week at a price of $4 per bottle. After the tax, 13,000 bottles of wine are sold every week; consumers pay $5 per bottle, ..
Show that an increase in government spending that is productive in this fashion could increase welfare for the representative consumer.
Why would a country employ the use of a guest worker program? Why would a country include offshore assembly provisions in its tariff code?
Total revenue is calculated as the quantity of a good or service sold multiplied by its market price. Thus, it is a measure of how much money a company makes from selling its product. The core objective of a firm is maximizing profit.
If anti-sweatshop movements are successful in raising pay and improving working conditions for apparel workers in foreign countries, how will these changes abroad affect labor market outcomes for workers in the apparel and retailing industries in the..
q. each day matt eats lunch at school. he likes only twinkies t and soda s and these provide him a utility of utility
Locate current data for GDP for the U.S. (Go to the Bureau of Economic Analysis Web site. Click on Interactive Data Tables, then National Income and Product Accounts, and then Frequently Requested NIPA Tables to get to Table 1.1.1). What are the annu..
Illustrate what are the different types of inflation. Elucidate why is it important to know which type of inflation we may be experiencing.
French’s going up against the ketchup giant, Heinz, and another well entrenched brand in the President’s Choice ketchup. As such, French’s is facing some significant challenges as it expands into and attempts to gain significant share of the Canadian..
Give a real example in history when a market for a product or service was affected by a change in each of the following: Income of buyers Price of a related good, either a substitute or compliment Number of buyers Consumer preferences and information..
According to studies by economists Frank Chaloupka and Michael Grossman, the price elasticity of demand for cigarettes for teenagers is 1.3 and for adults is 0.4 ("Price, Tobacco Control Policies and Smoking Among Young Adults," JHE, Vol. 16, no. 3 (..
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