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1. As a result of U.S. tariffs imposed on wool from New Zealand, the quantity of this wool that is imported has
a. decreased.
b. not changed.
c. increased a lot.
d. changed but whether it has increased or decreased is ambiguous.
2. Suppose everybody paid the same total amount of tax regardless of their income. This type of tax system would be
Select one:
a. regressive.
b. proportional.
c. marginal.
d. efficient.
3. A minimum wage
a. increases all workers' surplus because the wage rate increases.
b. increases consumer surplus because the price of the good decreases.
c. decreases the firms' surplus because fewer workers are hired at the higher wage.
d. None of these answers is correct.
4. Assume that the government passes a tax so that every individual must pay $100. This tax is a
a. progressive tax.
b. proportional tax.
c. regressive tax.
d. type of tax that is impossible to determine without more information.
In the United States we have a only few laws for the states to obey. Therefore, in contrast to the federal budget, the budgets of the individual states-------
Assume there is a market with only two profit maximizing companies (duopol) where each company has MC = AVC = 20 and no fixed costs. Also assume that market demand is Q = 100 - 0.5p. If both companies compete and chooses their given supply quantities..
Suppose the market for eggs is in equilibrium at a price of $2 per dozen eggs. If the government decides to enact a new price floor at $1.50 per dozen eggs, what outcome does economic theory predict will occur?
In the 21st century Explain how has globalization affected trade restrictions also the development of common markets
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Suppose the premium on a 6-month S&R call is $ 107.5 and the premium on a put with the same strike price is $ 59.3. Assuming that the effective annual interest rate is 3 %, and that today's price for the non-dividend paying S&R index is $ 1,000, what..
Liability of Limited Partners Virginia Partners, Ltd. (Virginia Partners), a limited partnership organized under the laws of Florida, conducted business in Kentucky but failed to register as a foreign limited partnership, as required by Kentucky law.
How does the taxation change if the income was $220,874? How does this variation affect people and corporations? Use the graph functions of Word or Excel to assist you-You will need two graphs
Which is the safer investment, Company A Stock, Company B Stock, or a porfolio containing half of each If you make a lucky prediction about the prices of the stocks of the two companies, will you earn more or less if you invest in that company rat..
Suppose that a Starbuck’s venti latte currently sells for US$4.00 in the United States and C$5.00 in Canada. Make up a value for the exchange rate between the U.S. dollar and the Canadian dollar (expressed as Canadian dollars per U.S. dollar) that le..
Find the case entitled In Re Samuels & Co., Inc., 526 F.2d 1238 (5th Cir. Tex. 1976). This case is in Week 5. After you have read Part 7 in the textbook (in a paragraph) discuss this case and why it comes under Section 9 of the UCC.
Do you see our communities growing closer together or further apart. One page double spaced.
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