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1) Can the Federal Government discriminate among states when setting tax rates? What document provides the answer to this question? (As an example of the previous point, include at the end of this question the Federal tax on a gallon of gasoline)
2) Explain the main characteristics of the libertarian ideology. Do they have an Organic or Mechanistic view of government?
3) Several years ago, New York City introduced a ban on large soda drinks with the objective of reducing obesity (the ban was later declared unconstitutional). Explain concisely how somebody with an Mechanistic view of Government would react to this ban in contrast with somebody a Mechanistic view.
4) Explain concisely what a natural experiment is and its main benefit compared to using observational data in empirical economics.
Privatization in transition economies is often justified on the grounds of increasing. The text defines an economic system as. Which of the following legal forms of business organization provides for limited liability?
If the company will sell the number of units obtained in part d and wants to maintain the same profit as last year, what will its new price have to be.
Illustrate what happens when a consumer decides to save and reduce thier spending of consumer goods. Does this affect the supply of money, demand of money or the intrest rate.
Suppose a firm employs capital (K) and labor (L) to produce a product with the following production function: Q = min(K, L), where Q is the quantity produced and min(K, L) is the minimum (i.e., smallest) value of K or L. For example, if K = 20 and L ..
Identify two failed products and discuss the reasons that led to the products' failure. Or you may contrast the failed products with two from similar categories that were successful and try to figure out why they were the winners.
You used this information in deciding to open a store. Your store Explain however has not come even close to these annual sales.
Suppose the demand for oranges in the U.S. is: P = 5.35 - .012 Q. Using the midpoint formula, what is the elasticity of demand for oranges at $3 per box? What happens to total revenues from oranges due to the freeze? Why?
(Long-Run Industry Supply) Why does the long-run industry supply curve for an increasing-cost industry slope upward? What causes the increasing costs in an increasing-cost industry? What are the major characteristics of perfectly competitive market? ..
q1. assume australias unemployment rate began to rise and the government passed an investment tax credit to help
Recall that the Law of Demand states that demand curves are always downward-sloping. That is, people want to buy more of some good when its price is lower. Why is a firm’s short-run demand for labor downward-sloping?
The Newspaper reported that insurgents in Saudi Arabia had taken over a major oil refinery. What would you predict would happen to the average price and quantity exchanged in the market for gasoline in Saudi Arabia?
In June 2013, currency held by individuals and businesses was $1,124 billion; traveler’s checks were $4 billion; checkable deposits owned by individuals and businesses were $1,402 billion; savings deposits were $6,884 billion; time deposits were $583..
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