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Explain what is meant by the terms, vertical equity, horizontal equity and the Ramsey rule. A city is considering imposing excise taxes on the following items to raise revenue to finance the construction of a new stadium for the major league baseball team that plays in the city. Evaluate the following taxes from the standpoint of vertical and horizontal equity.
a) jewelry
b)cigarettes
c) stock market transactions
d) tickets to baseball games
If each vendor sells exactly 100 hot dogs a day and the demand for hot dogs from vendors in the city is Q = 4400-1200P, how many vendors are there?
The largest source of household income in the U.S. is obtained from - Real gross domestic product is best defined as
where P is the original price paid for the car. If P = 35000, determine the selling price of the car after 5 years. What is the rate of depreciation of the car after 7 years?
The difference between the average wage of the Experienced workers and the average wage of the Inexperienced workers is $3.10 per hour. Why can we not conclude that experience raises a person's wage based on this fact?
Illustrate the change on the same graph and explain how you would term this in the theory of Economics - Indicate how the events of 'b' and 'c' would affect the equilibrium price of match tickets.
A firm’s Marginal Revenue curve (in class we called this also Marginal Value) is given by w=1200-2L, where w stands for the wage and L for the quantity of labor. The labor supply curve is given as w=L.
1a cut in government spending a decrease in income abroad an increase in taxes or an expectation that future consumer
In the aftermath of September 11 terrorist attacks, the quantity of sold airline tickets in 2002 fell by a large percentage when compared to 2001. During the same time period the average price for airling tickets also fell.
what is a sensitivity analysis? how would you use it in planning for future expansions? what role does this kind of
While sitting in your office one evening, you start to think about some of the key microeconomic messages you wish to communicate to the Board.
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
1) The Hub and Spoke Concept continues its development in the various modes of transportation (Maritime, Air, Truck, and Rail). Describe some of the key advantages this concept brings to the various modes of transportation.
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