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1. How is it possible for some people to pay negative taxes?
2. Why is it important to distinguish between deficits and debt?
3. Why may a budget surplus be considered undesirable?
In case of a Giffen good, income effect dominates substitution effect. All the points along the demand curve share the same elasticity. The marginal cost curve passes through the minimum point of the average fixed cost curve.
Paula has set aside $60 monthly budget to attend plays and watch movies. She likes plays exactly three time as much as she likes movies. Draw her indifference curves. If the price of movies decreases to 4 dollars how many movies will she see?
Break out the components of the $28 marginal revenue from the seventh unit sale at $38.31-that is, how much revenue is lost per unit sale relative to the price that would move six shirts per color per day?
Calculate the amount of former foreign monopoly profit that is transferred as tariff revenue to the home country when the home country imposes the tariff.
Elucidate the nature of competition in a marketplace which is characterized by a high barrier to entry and a significant product homogeneity.
Illustrate what would be the production possibility frontiers for Brazil as well as the United States.
Where aH and bH are her consumption of ale and bread. George and Harriet are each endowed with 4 units of ale and 4 uits of bread. Find the market-clearing price (which is a messy fraction).
If the utility function shows declining marginal utility of income for an individual, the individual must be a : a)risk-neutral person b) risk-taker c) risk-averse person
Corruption, the Merriam Webster dictionary (n.d.) defines corruption as the "impairment of integrity, virtue, or moral principle, or inducement to wrong by improper or unlawful means (as bribery). Many argue that corruption is a major problem in busi..
A new OSHA rule requires that welders be given 2 hour break for every 2 hours of work to prevent carpel tunnel syndrome. Using production theory, explain what will happen to the capital labor ratio in both the short run (when capital is fixed) and..
What happened in the last 6 years? 1) By how much has GDP (and Real GDP) changed, and have there been significant changes in the internal composition of GDP?
Which of the following events may decrease market labor demand? Choose all that apply.
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