Discuss how you could use an empirical econometric model

Assignment Help Business Economics

Reference no: EM133455753

Questions:

1. Using a diagram showing consumer and producer surplus, show generally how taxes impact consumer and producer welfare. Remember to highlight the deadweight loss (DWL) to your audience.

2. Then extend this to the macroeconomy by showing how taxes generally impact aggregate demand and aggregate supply (AD-AS).

3. Using an AD-AS model, can you answer whether a tax that improves people's health could have any potential long-term benefits for the economy.

4. Finally, briefly discuss how you could use an empirical econometric model to assess the health and economic growth consequences of a 'fat tax'.

Reference no: EM133455753

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