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Q1. State two economic principles of taxation and which principle best justifies the excise tax on gasoline, when the tax revenue is used to maintain or improve the roads? Which principle best justifies the progressive U.S. taxation profits of corporate? Clarify.
Q2. 1) "Unemployment is more important problem than price increases". This kind of statement is normative or positive?2) You are given a choice between two movie passes, dinner at a Red Lobster and a new book. What is your opportunity cost? Explain.
Refer to situation. An economist would predict that onc e price controls were abolished in the spring of 1974,A) The price of gasoline would decline sharply B) The surplus of gasoline would vanish
Which factors make the strongest impact on your personal labor productivity, or that of your closest family member, if you don't have a job? What actions can a person take to increase his or her labor productivity?
Explicate your rationale. Once more, with the similar organization in mind, converse the most effective way to maintain also extend a competitive benefit.
suppose that there are two grades of professional football players. there are a restricted number of stars whom the
How much must be deposited each month for 9 months at an interest rate of 9.6% per month to allow for a single withdrawal of $54,273.31 at the same time as the last deposit?
The U.S. cigarette organization has negotiated with Congress also government agencies to settle liability claims against it.
Suppose that there is a unit mass of consumers who are uniformly distributed on the segment[0,1]. Two firms are located on the line and sell identical products.
Suppose population growth rate is 0.03, inome elastiity of demand for consumption is 0.75 and inome growth rate of 0.05. what would be the growth rate of agriultural production for balaned growth of the economy.
Which organization has a bigger markup. Explicate. Which organization has the bigger incentive for careful quality control
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
monopoly and equilibriuma. helen gets smart and realizes that she is the only pie shop approximately. compute the
Can you explain the law of diminishing returns in your own job place. Can you find a counter example.
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