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1). A poor person who has an income of $1,000 receives $100 worth of food stamps. Draw the budget constraint if the food stamp recipient can sell these coupons on the black market for less than their face value.
2). Under a welfare plan, poor people are given a lump sum payment of $L. If they accept this welfare payment, they must pay a high tax, t= 1/2, on anything they earn. If they don't have to pay a tax on their earnings. Show that whether an individual accepts welfare depends on the individual's tastes.
3). Suppose that Roy could choose how many hours to work at a wage of w and chose to work seven hours a day. The employer now offers him time-and-a-half wages (1.5w) for every hour he works beyond a minimum of eight hours per day. Show how his budget constraint changes. Will he choose to work more than seven hours a day?
Keeping in mind that one must take off work to complete the task who has the lowest oppurtunity cost of completing the task.' Sam, Both have the same identical cost, Teresa.
The continual liberalization of economic supplements appears to be advantageous, at least on the surface. What are some of the problems and/or issues with this liberalization trend
Suppose a firm is producing 1,000 units of output. Its average fixed costs are $100. Its average variable costs are $50. What is the total cost of producing 1,000 units of output?
Which two of the text's possible explanations for increasing wage and salary inequality seem least consistent with the following fact The distribution of earnings has become more unequal within industries (Both goods and service industries) and wi..
current event1. with an economic perspective write a brief summary of the current event article2. write your opinion
What equilibrium prices will we see in the market when both operators compete on prices? Why?
Doesn't the labor theory of value imply that people should write the labor content of their commodities on the price signs instead of amount of money? How would you answer your friend?
Insurance agents receive a commission on the policies they sell. Many states regulate the rates that can be charged for insurance. Would higher or lower rates increase the incomes of agents Explain, distinguishing between the short run and the lon..
The demand and supply equations in a market are given as Q = 30 - 2P and Q = 10 + 2P. If the government imposes a tax of $0.50/unit on the suppliers,
What is the Federal Reserve (Fed) all about Which Federal Reserve District Bank is closest to you Who is the current Chairman of the Fed Should the Fed remain independent from political authority or should the President and Congress have a say in ..
What is the value of the vertical intercept of the aggregate expenditures function when we add net exports. What is the total (equation wise) of autonomous spending with net exports added.
Please write a three paragraph summary due next week regarding either the documentary "Inside Job" or "Capitalism: A Love Story." Discuss the financial crisis and how the current state of capitalism impacted average Americans.
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