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The main arguement put forth by advocates of the singlr tax movement was that:
a. Taxing only income would make for a more equal society.
b. Taxing only land would be very efficient because taxing land does not increase its supply.
c. Taxing only imports would help protect local jobs and stimulate local entreprenuers.
d. Having only one tax would be much easier for people to understand and much less costly to administer than our current system.
Consider the demand for Ramen noodles. Suppose the price of Ramen noodles decreases. If Ramen noodles are a normal good, this will produce a _____ (choose: positive/negative) substitution effect and a ________ (choose: positive/negative) income effec..
If the objective is one of redistribution, what are the welfare implications of achieving this redistribution by providing cash supplements versus medical care to the desired beneficiary group?
q1. during a war the government puts pressure on producers for heavy equipment supplies and services making each more
One of the fans at this game believes in the Law of Small Numbers. She has the wrong model of how likely Curry is to make a basket. Here’s how her model works. The fan imagines that there is a deck of 4 cards. When Paul is Hot, 3 of these cards say “..
Draw an Edgeworth box with indifference curves through this endowment. At what combinations of X and Y are both better off (i.e., are Pareto Improving)? At what combinations of X and Y are there no more gains from trade (i.e., are Pareto Efficient)?
Two plants are emitting a uniformly mixed polllutant called gunk into the beautiful sky over Tourist Town. The city government decides it can tolerate total emission of no more than 100 kg of gunk per day.
When Satelite Glass switched from hourly wage to piece rate, what happened to the workers' productivity? What are the sources of this productivity change?
What is the Law of Diminishing Returns. Discuss a company's two short run options: 1. stay open or 2. shut down.
Truckco manufactures two types of trucks; the T1 and the T2. Each truck must go through the painting shop and the assembly shop. If the painting shop were completely devoted to the T1, 800 trucks could be painted in a day. The T1 contributes $300 in ..
Toys are produced by a competitive industry. Santa Claus gives away one million free toys each year. It costs Santa nothing to produce these toys. Illustrate Santa’s effect on consumer’s surplus and the producer surplus earned by commercial toy manuf..
If Jane gets one year of college she will earn $20 per hour. If Jane gets two years of college she will earn $22 per hour. If Jane gets three years of college, she will earn $24 per hour. If Jane finishes college, she will earn $25 per hour. Jane’s d..
An irrigation return flow drain has sampling equipment that can be powered by solar cells or by running an electric line to the site and using conventional power. Solar cells will cost $14,000 to install and will have a useful life of 10 years.
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