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Question: LJohn Adams has a $65,000 adjusted gross income from Apple Corp. and allowable itemized deductions of $7200. Mary Eve has a $75,000 adjusted gross income and $2000 of allowable itemized deductions. Compute the total tax they would pay as unmarried individuals. Then compute their tax as a married couple filing a joint return.
The standard theory of monopolistically competitive firms maintains that, in the long run, such firms will operate at less than full capacity. Does this result depend on whether firms produce identical or differentiated products? Explain.
Compare price, output, profit, and consumer surplus when (a) the monopoly sets a uniform price for the product; and (b) the monopoly uses a two-part tariff
Explain how the five main policy responses to deteriorating international competitiveness work.
What cultural determinants about country would be most important to you as you reach a decision about whether or not to do business in this country.
Widgetland has 60 workers. Each worker can produce 4 widget(s) or 4 wadget(s). Each resident in Widgetland currently consumes 2 widget(s) and 2 wadget(s). Wadgetland also has 60 workers. Each can produce 3 widget(s) or 12 wadget(s).
Describe the characteristics that make the U.S. economy a "modified free enterprise" economy.
What is the annual cost of ownership of 4 scaper haulers, 3 bulldozers, and 2 motor graders if the annual interest rate is 3.5% Purchase price scaper hauler $2,145,669 Purchase price bulldozer $1,234,756 Purchase price motor grader $986,758 The contr..
"Some economists worry that the aging populations of industrial countries are going to start running down their savings just when the investment appetite of emerging economies is growing" (The Economist, May 6, 1995)
Assuming that food platters and entertainment are normal goods, what can you say about the quantity of each good that Heather will purchase after the discount?
Do the two options generate equal or dissimilar deadweight losses? Briefly explain. Describe any other considerations that might be relevant to policy makers when deciding between option 1 and option 2.
The coefficient of income in a regression of the quantity demanded of a commodity on price, income, and other variable is 10. Compute the income elasticity of demand for this commodity at income $10,000 and sales 80,000 units
Describe, design and illustrate the process of funds gained through illicit finance and how they are a part of the global economy.
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