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Suppose the government of Washington is considering the addition of a new tax on firms. You have been called in to provide expert analysis on how such a tax would affect employment of labor. There are 3 proposals the government is considering:
1. A tax on every hour an employee works (e.g., “X” cents per hour).
2. A tax on some percentage of the value of the firm’s buildings, land, and machinery (e.g., “Y” percent of the total property value).
3. A tax on every unit of output a firm produces (e.g., “Z” cents per unit of output).
While all the plans have the potential to reduce employment opportunities, which plan would probably have the most favorable impact on employment of labor? Briefly explain your reasoning.
HINT: Compare the plans in terms of their scale and substitution effects.
Find a current article about one or more of the macro variables for a nation of your choosing, such as GDP, employment, inflation, or international trade.
Explain how much will your firm's total revenues (revenue from both products) change if you increase the price of good X by 1 percent.
1. In the market for a particular good, at a price of $26, the quantity demanded is 300 and the quantity supplied is 450. Which of the following is true?
Suppose the economy is in a recession and per capita disposable income is expected to decrease by 5%, then what percentage effect on sales would you expect to take place.
What would happen to the value of gold if people discovered that it could easily be made at home from inexpensive materials
Chapter 2 An example of a case power to the people. Figure 2-6 contains snapshot of excel spreadsheet. What is the formulas used to calculate figure 2-6. Please assist.
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Canada increased from 7,500 kg per month to 8,000 kg per month. Use calculated elasticity to comment on substitutability or complementarity of coffee and tea
q.1. lee has the utility function ux1 x2 x11x24 the price of x2 is 1. lee spends all his income to buy 6 units of x2
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